Funding & Business
Trump Reveals New Batch of Tariffs From Iraq to Philippines
US President Donald Trump unveiled a new round of tariff demand letters on Wednesday with levies set to hit in August on imported goods from partners who fail to reach agreements with the US.
Trump said he would levy a 30% rate on Algeria, Libya, Iraq and Sri Lanka, with 25% duties on products from Brunei and Moldova and a 20% rate on goods from the Philippines. The levies were largely in line with rates Trump had initially announced in April, though Iraq’s duties are down from 39% and Sri Lanka’s reduced from 44%.
Trump began notifying trading partners of new rates on Monday ahead of a deadline this week for countries to wrap up negotiations with his administration and posted to social media that he planned to release “a minimum of 7” letters on Wednesday morning, with additional rates to be posted in the afternoon. Brett Bruen, President and CEO of Global Situation Room joins to discuss. (Source: Bloomberg)
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German companies are the most optimistic about the economy since early 2022 and for the first time in two years plan to boost investments, according to a report by S&P Global Market Intelligence.
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Asian equities were set to join a rally in US shares and Bitcoin in a sign investors are looking through the latest tariff headlines to focus on corporate profits and the economy.
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Van Leeuwen Ice Cream Co-Founder and CEO Ben Van Leeuwen discusses the impact of tariffs and inflation on customers. He also discusses the difference between grocery and scoop shop business and expanding the brand. He speaks with Romaine Bostick on July 9 2025 in New York. (Source: Bloomberg)
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