Okay, so a lot is happening with tariffs right now. 😬 It looks like the administration just signed an executive order for new "reciprocal" tariffs on dozens of countries, set to go into effect on August 7. 🗓️
Rates are all over the place, from a baseline 10% for some of our closest allies like the UK and Brazil, to some serious hikes on countries like Syria (41%) and Canada (35%). 📈 This is a big deal and definitely shaking up global trade. The idea is to rebalance what are seen as unfair trade deficits.
Some countries are getting hit harder than others based on trade deficits and what the administration calls "strategic alignment." It's definitely creating some turbulence in the markets and has a lot of people talking about the potential for higher prices and trade wars. 🤔 We'll have to wait and see how it all plays out!