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illuminem summarises for you the essential news of the day. Read the full piece on CNN or enjoy below:
🗞️ Driving the news: President Donald Trump has enacted sweeping new tariffs on imports from dozens of countries, marking the most significant overhaul of U.S. trade policy in decades
• The new "reciprocal tariffs" introduce sharply differentiated rates — up to 50% for Brazil and over 35% for several others — and apply to nearly all trading partners except Canada and Mexico (if compliant with USMCA)
• An additional penalty targeting India is set to take effect on August 27
🔭 The context: This policy shift follows months of stalled negotiations and partial trade arrangements. While eight trade deals have been announced, only agreements with China and the UK have been formalized — with the China deal set to expire on August 12
• Trump has consistently framed tariffs as tools to rebalance U.S. trade and incentivize domestic production, despite criticism from economists and global partners
🌍 Why it matters for the planet: Higher tariffs could disrupt global supply chains that are essential for clean technology, pharmaceuticals, and agricultural products
• Countries targeted by the tariffs — including India, Vietnam, and Taiwan — are key suppliers of renewable energy components and electronic goods
• Sudden cost increases could deter climate-aligned innovation, delay decarbonization projects, and increase reliance on domestic fossil-heavy production
⏭️ What's next: Affected countries are expected to contest the tariffs diplomatically and, potentially, in court. The most immediate deadline is August 12, when the China trade agreement expires, potentially triggering retaliatory measures
• Trump has signaled further tariffs on semiconductors and lumber, including a proposed 100% tariff on chips — a sector critical to both the green transition and AI technologies
• Stakeholders in tech, energy, and manufacturing are bracing for prolonged uncertainty
💬 One quote: “These tariffs may appeal politically, but they risk igniting a global trade backlash that will hurt American consumers and stall clean energy progress,” — Robert Atkinson, president of the Information Technology and Innovation Foundation
📈 One stat: Tariffs under Trump’s new regime have already generated over $100 billion in tax revenue, according to administration figures — though the long-term cost to consumers and industries remains contested.
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