President Trump's decision to levy tariffs on dozens of trading partners is causing concern for businesses across the country as they face a new tariff reality.

Bridgewater

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

President Trump has issued an executive order imposing additional tariffs on imports from over 60 countries, with rates ranging from 10 to 41 percent. Major trading partners such as Japan and South Korea are included, while Mexico and China are exempt due to ongoing trade negotiations. Canada faces a 35 percent tariff on some imports, an increase from the previous 25 percent, with the White House citing concerns over illicit drug flows.

The new tariffs are set to take effect after a short delay to allow U.S. Customs to prepare. Business owners, particularly those reliant on imported goods like wine, have expressed concerns about rising costs and limited product availability. Many small businesses say they cannot absorb the additional expenses, which may result in higher prices for consumers or reduced offerings.

Businesses worry as Trump hits dozens of countries with new tariffs

Just hours before his August 1st deadline, in an executive order, President Trump slapped additional tariffs on more than 60 countries, ranging from about 10 percent to as high as 41 percent. The list includes negotiated rates for major trading partners like Japan and South Korea, but there are notable exceptions, including Mexico and China, which remain in trade talks with the U.S. Separately, America's second-largest trading partner, Canada, was slapped with a 35 percent tariff rate on some of its imports, up from 25 percent. The White House claims Canada hasn't done enough to stop the flow of illicit drugs. Well, they have to pay a fair rate, that's all. It's very simple. Trump said his August 1st negotiating deadline was firm, but these new levies will not go into effect until August 7th. A White House official said the delay allows U.S. Customs time to prepare for the tariffs. There's definitely going to be a few different casualties, so we're expecting to just not have access to a lot of things. Thea Merle is the co-owner of Neato Wine Shop and Market. Ninety percent of her products are imported, including many wines from the Mediterranean. The president reached a deal for a 15 percent tariff on European Union goods, but there is currently no exemption for European wine. It's not as if the tariffs getting pushed through is going to uplift the American wine industry. You know, so in every direction you'll be paying a premium for things that normally would be accessible. As a small business, Merle says she cannot afford to absorb extra costs from higher tariffs, compared to what she paid last year. So some of your products that you currently have on the shelf now, you're not going to be able to replace them down the line because of tariffs? Or if we do, they will be at a much, much higher price point.

President Trump explained why he fired Bureau of Labor Statistics Commissioner Erika McEntarfer on Friday. Government data showed fewer jobs were added to the U.S. economy last month than expected.

Washington

Trump announces new tariff rates, fires employment commissioner

Former Special Counsel Jack Smith, who ran two federal prosecutions of President Trump, is under investigation for allegedly violating a law barring federal employees from using their position to influence elections.

Jack Smith investigated for using position to influence elections

Montana authorities released a new surveillance image showing who they have identified as the suspect in a bar shooting in Anaconda. Meanwhile, nearly 2,000 miles away, police in Tennessee are searching for a quadruple homicide suspect.

Anaconda

Suspect on the run after Montana bar shooting

Los Angeles officials are praising an appeals court ruling limiting immigration stops, but the decision may only escalate a battle over transparency and control. Elise Preston has the latest information.

Los Angeles

Appeals court keeps restrictions on California ICE raids

Disturbing new video shows a severely malnourished Israeli hostage being held in what appears to be an underground tunnel. This comes as witnesses and aid workers say Israeli troops opened fire on hungry civilians at two Gaza food distribution sites.

Sderot

Middle East Conflict

Hamas propaganda shows malnourished Israeli hostage

U.S. President Donald Trump fired the U.S. commissioner of labour statistics after weak jobs numbers signaled tariffs weren’t yet leading to his promised economic boom.

Trump slams weak jobs numbers as 'rigged,' fires statistics chief

Donald Trump has ordered the repositioning of two United States nuclear submarines to “appropriate regions” relative to Russia, blaming a heated exchange with Dmitry Medvedev, Moscow’s military leader and former president.

Moscow

Trump sends nuclear submarines towards Russia

A mass shooting in Anaconda triggers community shock and concern, as witnesses share their experiences and the investigation unfolds amid rising tensions.

Community in shock following deadly shooting in Anaconda

U.S. President Donald Trump said he's ordered his administration to fire the commissioner of the U.S. Bureau of Labor Statistics, on the same day new data was released showing weak job growth in July. The Labor Department also sharply revised job growth for May and June down.

Trump orders firing of U.S. Bureau of Labor Statistics commissioner

U.S. President Donald Trump says he ordered two nuclear submarines to be positioned in the "appropriate regions" as a response to comments made by Russia's former president. CBS News' Charlie D'Agata reports.

Trump says nuclear submarines moved in response to Russia

Jeffrey Epstein accomplice Ghislaine Maxwell has been transferred to a Bryan, Texas, prison, CBS News confirms. Maxwell was previously held in Tallahassee, Florida.

Bryan

Ghislaine Maxwell transferred to Texas prison

The announcement comes as international pressure mounts on Israel over the war in Gaza and the deepening humanitarian crisis in the Palestinian enclave.

Ljubljana

Slovenia becomes first EU country to ban arms trade with Israel

The United States imposed sanctions on Palestinian Authority officials just as other nations are stressing the importance of the PA in governing Gaza in the event of an end to the devastating war in the enclave.

New York

U.S. sanctions Palestinian Authority in growing diplomatic rift

Ukraine’s Parliament has reversed a controversial law signed last week by President Volodymyr Zelenskyy, which would have allowed the government greater control over anti-corruption agencies. The decision comes as the country faces one of its most significant political crises since Russia’s full-scale invasion in 2022.

Kyiv

Ukraine Invasion

Ukraine parliament reverses bill on anti-corruption agencies amid crisis

U.S. President Donald Trump has signed an executive order increasing tariffs on Canadian goods that don't meet the terms of the Canada-U.S.-Mexico Agreement to 35 per cent.

Ottawa

Trump raises Canada tariff to 35%, grants extension to Mexico

U.S. special envoy Steve Witkoff met Israeli Prime Minister Benjamin Netanyahu on July 31 in a bid to salvage Gaza truce talks and tackle a humanitarian crisis in the enclave, where a global hunger monitor has warned that famine is unfolding.

Jerusalem

Trump's envoy meets Netanyahu for Gaza aid, ceasefire push

U.S. special envoy Steve Witkoff is visiting Israel as more countries join the call to recognize a Palestinian state in September. CBS News' Robert Berger has the latest.

Trump envoy in Israel as Canada joins call on Palestinian statehood

President Donald Trump says the U.S. will charge a 15% tariff on imports from South Korea as part of a deal that eases, for now, tension with a top-10 trading partner and key Asian ally.

Trump says U.S. will set 15% tariff on South Korean imports

U.S. President Donald Trump slapped a 50% tariff on most Brazilian goods to fight what he has called a "witch hunt" against former President Jair Bolsonaro, but softened the blow by excluding sectors such as aircraft, energy and orange juice from heavier levies.

Rio de Janeiro

Trump hits Brazil with tariffs, sanctions but key sectors excluded

Widespread damage from tsunami waves after one of the strongest earthquakes ever recorded appears to have been largely avoided. Experts say this event should be used to gauge disaster preparedness for a more serious situation in the future.

Okinawa

Tsunami damage less severe than feared after Russian earthquake

Prime Minister Mark Carney announced that Canada will recognize a Palestinian state later this year if the Palestinian Authority, which governs parts of the West Bank, meets certain conditions.

Canada to recognize Palestinian state in September if conditions met

Australia said on Wednesday (July 30) it will add YouTube to sites covered by its world-first ban on social media for teenagers, reversing an earlier decision to exempt the Alphabet-owned video-sharing site and potentially setting up a legal challenge.

Canberra

Australia expands teen social media ban to YouTube

President Donald Trump said on Wednesday (July 30) the United States will impose a 25% tariff on goods imported from India, as well as an unspecified penalty for buying Russian weapons and oil, on Aug. 1.

Trump says U.S. to hit India with 25% tariff starting August 1

Mourners flooded the streets of Birmingham to celebrate the life of rock-and-roll legend Ozzy Osbourne during his funeral procession in the United Kingdom. Mark Savage, a music reporter at the BBC, a CBS News partner, joins with more details.

Birmingham

Ozzy Osbourne fans flood Birmingham streets to mourn late music icon

U.S. President Donald Trump told reporters before departing from Scotland that Jeffrey Epstein poached workers from his Mar-a-Lago spa. Trump mentioned Virginia Giuffre, one of Epstein's most vocal accusers, in his latest remarks.

Trump says Epstein 'stole' young women from Mar-a-Lago spa

Owdeh Hathaleen, a 31-year‑old Palestinian activist, teacher, and filmmaker behind the Oscar-winning documentary No Other Land, was shot dead by an Israeli settler near the village of Umm al‑Khair in the South Hebron Hills.

Palestinian activist killed by Israeli settler in West Bank

A powerful magnitude 8.8 earthquake off Russia's Far Eastern Kamchatka Peninsula triggered tsunami waves of up to 16 feet nearby, and sparked evacuation orders in Japan, Hawaii and across the Pacific on Wednesday (July 30).

Hawaii

Tsunami reaches Hawaii after huge quake shakes Russia's Far East

The U.N. General Assembly brought high-level officials together to promote a two-state solution to the decades-old Israel-Palestinian conflict. Israel and the United States are boycotting the two-day meeting, co-chaired by the foreign ministers of France and Saudi Arabia

Israel and U.S. boycott UN Summit for two-state solution

With numerous countries facing an Aug. 1 trade agreement deadline, officials in the Trump administration say China could get an extension while negotiations continue.

Businesses worry as Trump hits dozens of countries with new tariffs

Breakdown

See The Full Story

Global Tariffs