U.S. President Donald Trump once again postponed the implementation of his long-threatened taxes last week and instead announced that dozens of economies will face new rates on August 7.

Washington

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

Global Tariffs

Donald Trump’s decision to impose broad tariffs on imports has triggered strong reactions from countries around the world, including protests in Brazil. The tariffs, some as high as 50%, are linked to political developments and are set to take effect after a period intended for negotiations. Countries such as Switzerland and Canada are working to reach agreements to avoid steep import duties, while analysts note that the US administration’s unpredictable trade policy has strained relationships with traditional allies.

Economic experts warn that these blanket tariffs could increase the cost of imported materials, potentially slowing manufacturing job growth and impacting the broader economy. Recent economic indicators, including a slowdown in US hiring, have raised concerns about the possibility of a recession.

How are world economies reacting to Trump tariffs?

Donald Trump's decision to impose sweeping tariffs in every corner of the globe sparked outrage and even protests like here in Brazil. The US president linked the 50% tariffs to the trial of former Brazilian President Jair Bolsonaro. Those tariffs, along with others across the planet, are set to snap into effect on August 7th, after several delays which, according to Trump, are meant to give countries time to negotiate. Wall Street traders have called it taco trade, that's an acronym for Trump Always Chickens Out, in reference to Trump's habit of threatening to impose tariffs and backing out at the last moment. Switzerland now has just a few days to negotiate a deal before it's hit with 39% import duties. Canada says it's optimistic it will reach an agreement to avoid 35% tariffs on its own exports. The conversations have been informative, constructive and cordial. I would expect the prime minister will have a conversation with the president over the next number of days. While Trump may have scored political victories with headline tariff figures, analysts say his erratic trade policy has already alienated traditional allies. He doesn't like the leader, old or new, of Canada, Trudeau or Carney, and so he's teaching him a lesson, Trump thinks, by increasing those tariffs and making it difficult on the Canadian economy. That's how our decisions are being made, and if it sounds insane to you, that's because it is. Blanket tariffs may also slow the creation of manufacturing jobs by increasing the cost of imported materials such as steel, aluminium and machinery. The latest economic indicators could also be a warning of things to come. But Friday's jobs report showed hiring had slowed in July, a sign the US economy could be heading into a recession.

A shipwreck off Yemen has killed at least 68 people, the UN's migration agency said, with dozens still missing after the boat carrying mostly Ethiopians sank.

Sana'a

Migrant boat sinks off Yemen, killing at least 68

After two unverified videos of Israeli hostages were released, Hamas said the hunger crisis in the region puts them at risk. The militant group said it would deliver food from the Red Cross to the hostages under a couple of conditions, including permanent humanitarian corridors.

Jerusalem

Middle East Conflict

Hamas says hunger crisis putting hostages at risk

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 dismisses weak jobs numbers, fires labour statistics chief

Government scientists warn that the 2025 wildfire season in North America is projected to be the longest ever, with fires already causing significant damage across the western United States and Canada. Major blazes have led to evacuations, destruction of historic sites, and widespread air quality alerts.

Santa Barbara

Wildfire season in North America shaping as worst on record

A volcano in Russia's Far East has erupted after sitting dormant for 600 years. Scientists believe the eruption was triggered by the massive earthquake that struck the region last week.

Kamchatka Peninsula

Russian volcano erupts for first time in 600 years

An independent watchdog agency responsible for enforcing a law against partisan political activity by federal employees has opened an investigation into Jack Smith, the special counsel who brought two criminal cases against Donald Trump before his election to the White House last year.

Former Trump prosecutor Jack Smith faces probe by U.S. watchdog

New outbreaks of violence overnight into Sunday (August 3) rocked Syria straining a fragile ceasefire. Meanwhile residents in Sweida are calling access to more humanitarian aid.

As Suwayda

Humanitarian needs escalate in Sweida as truce frays

Parts of the European Commission's much-anticipated AI Act come into force this weekend. It's been hailed as the first piece of comprehensive legislation aimed at regulating AI globally, though critics say it doesn't go far enough.

Brussels

Rise of AI

EU's landmark AI act enters new phase

A Ukrainian lawmaker and a pair of local officials, as well as an unspecified number of National Guard personnel, have been caught in a major graft scheme that involved using state funds to buy drones and other military hardware at deliberately inflated prices in return for bribes.

Kyiv

Ukraine Invasion

Ukraine uncovers major drone procurement graft scheme

Over the past few days, Hamas and its ally Islamic Jihad have released three videos showing two hostages seized during the October 7, 2023, attack on Israel that triggered the ongoing war in Gaza. The videos sparked reactions from Israelis who are stepping up calls for a truce.

Tel Aviv-Yafo

Israeli hostage families protest in Tel Aviv

Pope Leo XIV celebrated the concluding mass of one of the most important events of the Holy Year. A million faithful filled the Tor Vergata esplanade in Rome. Pope Leo sent a message of hope for the young people afflicted by wars and recalled the words of his predecessor.

Rome

Pope Leo urges Catholic youth to spread faith and enthusiasm

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.

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

Hamas propaganda shows malnourished Israeli hostage

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.

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.

How are world economies reacting to Trump tariffs?

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Global Tariffs