Trump's latest tariff salvo fuels economic uncertainty, experts say
CBSN
A flurry of tariff threats by President Trump leaves U.S. consumers and businesses in limbo ahead of an Aug. 1 deadline to deploy the import duties against more than 50 countries around the world, according to economists and trade experts.
"Nobody knows whether these are threats or whether they will become policy, so it seems like everyone has become desensitized to them," EY Parthenon chief economist Gregory Daco told CBS MoneyWatch, adding that uncertainty over U.S. tariffs leaves companies in "a very dense fog."
Mr. Trump on Saturday announced he is imposing 30% tariffs against Mexico and the 27-member European Union. That followed moves to threaten tariffs ranging from 20% to 50% on roughly two dozen countries, including key U.S. trading partners such as Brazil, Canada, Japan and South Korea.
President Trump's director of the National Counterterrorism Center, Joe Kent, announced his immediate resignation Tuesday, citing the decision to begin a war against Iran when "Iran posed no imminent threat to our nation." In:
Air travelers faced hundreds of flight cancellations and thousands of delays on Tuesday in the wake of powerful storms that struck the Midwest and Eastern Seaboard. Many airports also continue to struggle with disruption from reduced staffing at often-jammed security checkpoints amid a partial government shutdown that has lasted more than a month. Mark Strassmann contributed to this report. In:
President Trump has invited farmers and biofuels producers to the White House for a big event next week as the industry awaits the government's announcement on mandates for the fuel additives. In:
A bitter Democratic primary is unfolding in Maine as two candidates battle for the chance to challenge five-term Republican Sen. Susan Collins, one of the GOP's most vulnerable incumbents in the upcoming midterm elections.
From a surprising heatwave in California to blizzards burying parts of the Midwest and storms rolling over the East Coast, chaotic weather put more than half the nation's population in the path of extreme conditions Monday.
The race to fill the seat of retiring Illinois Sen. Dick Durbin has been heating up in the days leading up to Tuesday's 2026 Democratic primary and could set the tone for other midterm primaries on issues like President Trump's deportation policies and outside spending. And another factor in the race is Gov. JB Pritzker's attempt at powerbrokering: he's given his endorsement and millions in campaign funds to his lieutenant governor, Julianna Stratton. In:
A man who was accused of planting pipe bombs outside the Republican National Committee and Democratic National Committee headquarters on the eve of the Jan. 6 attack in 2021 is asking a judge to dismiss the criminal charges against him, arguing he is covered by President Trump's sweeping pardons of alleged Jan. 6 rioters.
Kouri Richins, a Utah mother accused of murdering her husband and later publishing a children's book about grief, has been found guilty on all charges by a jury in Utah. The Associated Press contributed to this report. In:
The Kennedy Center's board of directors voted on Monday to shut down operations for two years as President Trump calls for a major overhaul of the D.C.-based performing arts institution. In:
A person believed to be the ex-wife of the suspect in the attack at Michigan's Temple Israel last week told authorities that the suspect was "not stable" ahead of the attack, according to a 911 call obtained by CBS News Detroit. Lucia I Suarez Sang contributed to this report. In:
The Cuban government is planning to allow Cuban nationals who live abroad — including in the U.S. — to invest in companies on the island, a top government official told NBC News in an interview that aired Monday, as the country faces economic collapse and immense pressure from the Trump administration.
U.S. Soccer and Nike on Monday unveiled new national team kits ahead of the 2026 FIFA World Cup. The collection includes two primary jersey, stars and stripes, as well as a new goalkeeper uniform. In:
Washington — The Supreme Court on Monday said it will consider the Trump administration's efforts to roll back temporary deportation protections for thousands of immigrants from Syria and Haiti. In: