Trade Policy Changes - US President signed an executive order announcing new tariffs ranging from 10% to 41% on dozens of countries, scheduled to take effect on August 7th [1] - Talks with China continue with an August 12th deadline approaching [1] - Mexico received a 90-day extension [1] - Canada was hit with a 35% tariff on imports, effective immediately [2] Trade Deal Frameworks - The executive order formalizes trade deal frameworks already negotiated with a handful of nations [1] - The US President indicated openness to deals within four weeks [1] US - Canada Trade Relations - The US President stated Canada has been treating the US badly for years and that the US wants fairness [2]

Trade Policy - White House unveils new tariff plan for every country [1] - The new tariff plan was released just hours ahead of the trade deal deadline [1]

Trade Policy - White House unveils new tariff plan for every country [1] - New tariff plan released just hours ahead of trade deal deadline [1]

Trade Policy Changes - The US government is granting Mexico a 90-day extension to negotiate a new trade deal, despite previous statements against extensions [1] - New trade deal with South Korea imposes a 15% duty on imports in exchange for a $350 billion investment in the US [2] - The US government is imposing an unspecified penalty on India for purchasing military equipment and energy from Russia [2] - Brazil's rate is increased to 90% due to perceived unfair treatment of their former president [2] Uncertainty and Confusion - Much of the information regarding these trade deals is sourced from social media posts or White House fact sheets, rather than signed agreements [5] - Information released by the US government sometimes differs from that released by other countries involved [6] - There is uncertainty regarding the implementation date of tariffs, specifically whether they apply to goods arriving on August 1st or goods shipped on August 1st [7] - Businesses face chaos and confusion when trying to import goods, price products, and charge customers [4] Legal Challenges - Small business owners have challenged the legality of the tariffs in court, arguing that the president does not have the authority to unilaterally implement them [8][9] - The president is using an emergency wartime power act to justify the tariffs, claiming a trade emergency due to the country's trade deficit [9] - Judges are pushing back on the government's argument, and the issue may ultimately go to the Supreme Court, prolonging the uncertainty [10]

Trade & Tariffs - Impending tariffs from the Trump administration are set to take effect, creating economic uncertainty [1] - The tariff deadline has been extended multiple times, now set for August 1st [1] - Trump criticizes Canada's plan to recognize a Palestinian state, stating it "will make it very hard" to reach a trade deal [1] Political & Economic Context - White House Press Secretary Karoline Leavitt held a press briefing [1] - The situation raises the specter of even more economic uncertainty [1]

It is time for money, power, politics. We are obviously following major trade news tonight. The president announced a deal with South Korea, which of course is a key US trading partner with just two days to spare before the deadline. The deal officially sets the tariff rate on South Korean imports, which we pay for. They don't, at 15%. Also, as part of the deal, Commerce Secretary Howard Lutnik says, I'm going to slow this down. South Korea will provide $350 billion dollars for to to invest in the United St ...

WASHINGTON — President Trump announced Wednesday evening that he had reached an agreement with South Korea that will include $350 billion in investment from Seoul and lock in a 15% tariff rate for the Asian nation. "I am pleased to announce that the United States of America has agreed to a Full and Complete Trade Deal with the Republic of Korea," Trump, 79, wrote on Truth Social. The Deal is that South Korea will give to the United States $350 Billion Dollars for Investments owned and controlled by the Unit ...

Trade Negotiations - US and China concluded trade talks in Stockholm, with potential extension of tariff pause subject to President Trump's approval [1][3][4] - The current deadline marks higher tariff rates taking effect for most other countries [2] - Further technical discussions are ongoing, and President Trump will make the final decision on extending the pause [4] - A potential meeting between President Trump and President Xi could take place before the end of the year [7] Tariffs and Potential Outcomes - Failure to reach a deal could result in a 34% tariff on Chinese goods [6] - The US is seeking a lower tariff rate depending on China's offers [7]

Currency Market Analysis - Euro weakness is observed, reversing gains after reaching a three-year high, influenced by dollar weakness and anticipation of a trade deal [1][2] - The pound initially experienced a relief rally following the UK trade deal announcement but later faced concerns about increased costs [4] - The pound fell below $1.34, considered low despite a recent high of $1.38, but it was the best-performing G10 currency yesterday [9] Trade Deal Impact - The trade deal is perceived as more expensive for companies than before, with a 15% cost increase exceeding the previously expected 1% [3] - Market reaction to trade deals may be overdone, with uncertainty about whether they are ultimately beneficial for Europe or detrimental to the US [4][5] Economic Data and Central Bank Meetings - Key central bank meetings, including the Fed, are anticipated as potential catalysts to shift the current narrative [6] - Crucial US data, including inflation and jobs reports, will be important for assessing the US economy's performance and the impact of tariffs [7] - EU GDP data and the Bank of England decision next week are being priced into the pound, influencing the euro [8] Earnings and Equity Market - Strong earnings results are observed from banks like Barclays, indicating a bullish outlook on the equity side [11] - Big tech earnings this week will be crucial for assessing the equity story and the vulnerability of the S&P rally [12] - Value stocks, particularly the Footsie 100, are outperforming the Stoxx 600 and the S&P in terms of year-to-date returns [12]

>> Thanks for watching. Fast money starts right now. >> Hey I'm Cramer, welcome to Mad Money. Welcome to Cramerica other my friends I'm just trying to make you a little money.My job is not just to entertain you but to educate and to teach you. So call me at one 800 703 CNBC or tweet me JimCramer. We've now got two trade deal wins on our hands.Last week's deal with Japan and this weekend's deal with the European Union. Despite the market's muted response Dow slipping 64 points S&P inching up 0.02% Nasdaq adv ...