Trump, Tariffs and new deals
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The Dow, S&P 500 and Nasdaq remain volatile as trade deals and tariffs keep investors in limbo. Amazon’s Prime Day met with fierce competition as Walmart, Costco offer their own deals. Oil inches higher.
President Trump sent more mixed signals on his tariff policy and bashed Russian President Putin during a Cabinet meeting Tuesday.
That means your local sales tax rate — ranging from under 5% in some states to close to 10% or more in parts of Alabama and Louisiana — applies to many Prime Day purchases. For example, if you grab a $500 laptop online and live in a place with a 9.5% sales tax, you could pay an extra $47.50 at checkout.
The Trump administration is expected to send dozens of letters to countries that have not made a trade deal, warning them that higher tariffs could kick in next month.
US President Donald Trump on Wednesday threatened Brazil with a crippling tariff of 50% starting August 1, according to a letter he sent to the country’s president, Luiz Inácio Lula da Silva.
"America will, once again, build a DOMINANT Copper Industry," Trump said in a post on his Truth Social media platform.
NBC News is tracking the prices of common purchases ahead of major discounting by Amazon, Walmart and other retailers, and as Trump’s global levies threaten to take hold.
U.S. stock futures edged lower and global equities were narrowly mixed with sector-specific duties back in the spotlight.