Trump Administration Announces New Tariffs on Over 80 Countries

P.M. Edition for July 23. The U.S. plans to impose new tariffs on most trade partners, replacing President Trump’s temporary global 10% tariff. Plus, the threat of escalating conflict in the Middle East drove oil prices over $100, and concerns around higher inflation made bond yields surge. WSJ markets reporter Sam Goldfarb discusses how that ripples through the economy. Meanwhile, heavy AI spending from Alphabet and Tesla spooked investors, and the Nasdaq dropped more than 2%. And after IBM issued a rare profit warning last week, the company’s earnings shed more light on what went wrong. We hear from reporter Anissa Gardizy about where its business goes from here, while tech columnist Christopher Mims spoke with IBM CEO Arvind Krishna. Alex Ossola hosts.

Correction: New U.S. tariffs target 60 economies, or more than 80 countries. An earlier version of this podcast incorrectly said the tariffs target 60 countries. (Corrected on July 24.)

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