Briefings
Week InReview: August 1, 2025
- By: admin
- On: 08/01/2025 15:49:25
- In: Week InReview
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The global stock selloff extended to a sixth day. The US announced a 10% minimum tariff, with rates of 15% and higher for a range of countries. The average US tariff rate will rise to 15.2% if rates are implemented as announced, according to Bloomberg Economics. Here's a list of the levies.
Bank chief executive officers are being asked for their pitches on monetizing mortgage giants Fannie Mae and Freddie Mac, including a major public offering of stock.
Switzerland was hit with a 39% tariff rate; the Swiss franc fell. Trump said the US will put a 35% levy on some imports from Canada, although the administration kept in place an exemption for goods traded under the rules of the US-Mexico-Canada trade agreement.
?Taiwan said a 20% duty is “temporary” and expects a reduction after talks.
Friday's July US jobs report is forecast to show employment likely moderated, while the unemployment rate is seen ticking up to 4.2%. Bloomberg Economics expects underlying job gains at a level that should keep unemployment stable.
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