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Trump's Tariffs Shock 68 Nations, Markets Plunge

8/1/2025

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Summary

Story summary

President Trump’s new tariffs, set to launch on August 7, will hit 68 countries, slapping Canada with a hefty 35% tariff over drug trafficking issues. With rates soaring between 10% and 41%, markets are reeling—U.S. futures and Asian stocks have plunged. Global leaders are left grappling with the fallout, showcasing a divided response.

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Story summary

President Trump’s new tariffs, set to launch on August 7, will hit 68 countries, slapping Canada with a hefty 35% tariff over drug trafficking issues. With rates soaring between 10% and 41%, markets are reeling—U.S. futures and Asian stocks have plunged. Global leaders are left grappling with the fallout, showcasing a divided response.