Trade Agreements & Negotiations - South Korea agreed to 15% tariffs and will purchase a substantial amount of US energy and invest in the US [3][4] - The US removed many trade and non-tariff barriers with South Korea, expecting increased exports [5][6] - The US is in negotiations with India, but is frustrated with their slow progress and purchase of sanctioned Russian oil [7][8] China Trade Discussions - US and China met for two full days in Stockholm, led by Vice Premier Julie Fun [9][10] - The US believes there are the makings of a deal with China, though some technical details remain [11][12] - The US disputes claims that China gained leverage in negotiations through rare earth mineral export controls [13][14][15] Geopolitical & Economic Context - Negotiations with China are complex due to it being both the largest economic and military rival [16][17]

Inflation Concerns - Anglo American CEO Duncan Wanblad anticipates significant inflation over time [1] - Businesses will need to manage rising costs due to tariffs [1] - Supply chains are expected to be affected by tariffs [1]

The bulk of President Donald Trump’s global tariffs face their biggest test yet when a US appeals court weighs arguments on their legality https://t.co/QVE7EVIa4H ...

If President Trump's sweeping global tariffs are deemed unlawful, he still has options to impose taxes on imports into the US. Here's what to know. https://t.co/Q7F1fv7MdF ...

Trump's tariffs could deal a blow to India's growth and exports https://t.co/Br6Pi6MYcn ...

The rupee extended its losses, weakening toward a record low after US President Donald Trump announced plans to impose tariffs of at least 25% on Indian exports, higher than previously anticipated. https://t.co/QQvxqE6ShE ...

Tariffs Impact & Mitigation - Ford experienced an $800 million impact from tariffs in Q2 and expects a $2 billion impact for the full year [1] - The company is in productive conversations with the administration to mitigate the tariff impact [2] - Ford aims to reduce its tariff bill due to multiple layers of tariffs on imported parts, despite manufacturing 80% of its vehicles in the US [6] - The company is working with the administration to simplify tariffs and decrease the burden to become more competitive with imported brands [14] Quality & Recalls - Ford had a $570 million charge in Q2 related to recalls [8] - Initial quality is now competitive, with Ford being the most awarded company and brand in IQS JD Powers initial quality [9] - Recalls are primarily related to vehicles engineered from 2015 and 2016, often involving software updates [9] - The company expects recalls to potentially increase as it enhances quality inspections and addresses issues in older vehicles [10] - Warranty coverages are decreasing due to quality improvements [11] Trade Deals & Competitiveness - EU and Japan trade agreements offer a $5,000 benefit for Ford, which manufactures most of its products in the US [13] - The company is working with the administration to address the layering of tariffs to improve competitiveness [13][14]

We do want to turn back now to the today's big news on the economy. I'm joined now by NBC News senior White House correspondent Garrett Hake and CNBC senior economics reporter Steve Leeman and Thomas Hanik, former president of the Federal Reserve Bank of Kansas City. He's now a distinguished senior fellow at the Meritus Center at George Mason University.Thank you all for joining us. Really appreciate it. Garrett, let me start with you.The president has not been shy at all about trying to pressure the Fed to ...

You're right. It's been a very dynamic time for these trade negotiations and um lots and lots of events in the intermedating period, but we we're still, you know, a ways away from seeing where things settle down. We are clearly getting more and more information and um you know, I think at this point people's estimates, our estimates, outside estimates of the of the likely um you know, effective effective level of tariffs is is not moving around that much at this point.But at the same time there are many man ...

to our panel on this. So, we got what we expected, Francis. We got no cut.Okay. We got two descents from Fed governors. First time since 1993, before you were born even.Okay. I wish this this descent happened. What is Jerome Powell going to do at the next few meetings.Cuz he's on his way out and his legacy is I don't want to say on the line, but what he does is kind of how we're going to remember him because that's how things work. I might take a step back and say there's so much focus right now on Chair Po ...