The U.S. is significantly raising tariffs on imports from over 60 countries
President Trump signed an executive order that raises tariffs from 10% to 41% on imports from over 60 countries — including Canada (up to 35%), India (25%), and South Africa (30%). This is the highest tariff rate in a century, and it will take effect on August 7. Companies warn: this is a historic level of trade pressure.
The U.S. and South Korea reached a trade agreement on the eve of the deadline.
The agreement provides for a 15% tariff instead of the previously threatened 25% on goods from South Korea. In response, Seoul will invest $350 billion in U.S. assets and purchase $100 billion in energy resources. This eases tensions ahead of the August 1 trade deadline.
Asian industrial production declined due to uncertainty surrounding American tariffs.
A July survey showed: activity in the industrial sector of Asia — Japan, South Korea, China — fell below 50 PMI points. The reason is that global demand is weakening, and ahead of new U.S. tariffs, businesses are hesitating with production. This indicates a threat of slowing regional economic recovery.
The Japanese economy avoided a technical recession due to consumption.
According to estimates, Japan's GDP grew by 0.4% annualized in the second quarter — consumption remained stable, and net exports provided a positive impulse. Thus, the country avoided a technical recession, although capital expenditures increased slowly.
Oil prices have fallen — traders are awaiting results on August 1.
Ahead of the August 1 deadline, Brent and WTI oil futures fell by 0.97% and 1.06% respectively (to $72.53 and $69.26). Investors turned to gold as a safe-haven asset amid uncertainty over U.S. trade policy and possible tariff strikes.
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Hiring rates in the U.S. have slowed — unemployment rises to 4.2%
In July 2025, hiring rates in the U.S. decreased, and unemployment is expected to rise to around 4.2%. This follows an unexpected jump in the previous month due to hiring in the public and educational sectors. Forecast: insufficient momentum for the Fed to consider lowering interest rates in the near future.
Musk is increasing the fortunes of far-right figures in Europe
Elon Musk may have lost political favor in Washington — he stepped down from his role as an advisor to President Donald Trump in May and has since exchanged insults with the president, — but while working on creating his own political party, he reportedly does not control his power over X.
Musk's influence on the platform he purchased for $44 billion has made him a powerful figure both at home and abroad. Among those he has chosen to develop are far-right politicians and rebellious thought leaders across Europe, according to an analysis of public data by the Associated Press. His dominance, which has real financial and political implications, fuels concerns in Europe about foreign interference — this time not from Russia or China, but from the United States.
Russian invaders attacked Kyiv region, Dnipropetrovsk region, and other regions of Ukraine on the night of August 1.
Russian invaders attacked Kyiv region on the night of August 1 — large fires broke out at civilian enterprises in Bila Tserkva, but there were no casualties.
Three people died and another 10 were injured as a result of a Russian strike on the city of Kramatorsk in Donetsk region on the afternoon of July 31.
Two adults and two children were injured, and farms, an educational institution, infrastructure, private homes, and cars were damaged as a result of Russian strikes in Dnipropetrovsk region on the night of August 1.
As a result of the strike, at least 30 houses and 13 cars were damaged.
The number of deaths from the attack on Kyiv on the night of July 31 has risen to 31, including 3 children. Another 159 people were injured, including 16 children.
The U.S. Senate Appropriations Committee has overwhelmingly approved the "Defense Appropriations Act" for the 2026 fiscal year, which provides for an allocation of $1 billion for military support to Ukraine, reported Ukraine's ambassador to the U.S. Markarova.
According to her, the next steps will be to consider the document by the full Senate, a conference between the two chambers, during which a consolidated text of the bill will be approved and its final adoption.
The Supporting Ukraine Act of 2025 has been introduced in Congress
Co-chair of the U.S. Senate Foreign Relations Committee Jeanne Shaheen and Senator Lisa Murkowski have introduced a bipartisan bill, the Supporting Ukraine Act of 2025, which provides multibillion-dollar aid to Ukraine.
According to the project, U.S. security assistance to Ukraine is made in the form of U.S. contributions to the Ukraine Recovery Investment Fund created under the provisions of the intergovernmental Ukrainian-American agreement.
The bill for the 2026 and 2027 fiscal years includes allocations:
▫️$30 billion in security assistance to Ukraine;
▫️$500 million in aid to Ukraine for emergencies;
▫️$3 billion for the FMF program for Ukraine;
▫️increase of the PDA program allocation limit to $6 billion;
▫️$600 million to support Ukrainian law enforcement, anti-corruption programs, and accountability for war crimes
