00:00Donald Trump's decision to impose sweeping tariffs in every corner of the globe sparked
00:05outrage and even protests like here in Brazil.
00:09The US president linked the 50% tariffs to the trial of former Brazilian president Jair
00:15Bolsonaro.
00:18Those tariffs, along with others across the planet, are set to snap into effect on August
00:237th after several delays which, according to Trump, are meant to give countries time
00:29to negotiate. Wall Street traders have called it taco trade. That's an acronym for Trump
00:34always chickens out, in reference to Trump's habit of threatening to impose tariffs and
00:40backing out at the last moment.
00:42Switzerland now has just a few days to negotiate a deal before it's hit with 39% import duties.
00:50Canada says it's optimistic it will reach an agreement to avoid 35% tariffs on its own exports.
00:57The conversations have been informative, constructive and cordial. I would expect the Prime Minister
01:02will have a conversation with the president over the next number of days.
01:07While Trump may have scored political victories with headline tariff figures, analysts say his
01:12erratic trade policy has already alienated traditional allies.
01:16He doesn't like the leader, old or new, of Canada, Trudeau or Carney. And so he's teaching him a lesson, Trump thinks, by increasing those tariffs and making it difficult on the Canadian economy. That's how our decisions are being made. And if it sounds insane to you, that's because it is.
01:38Blanket tariffs may also slow the creation of manufacturing jobs, by increasing the cost of imported materials, such as steel, aluminium and machinery.
01:49The latest economic indicators could also be a warning of things to come. Last Friday's jobs report showed hiring had slowed in July, a sign the US economy could be heading into a recession.
02:02Last Friday's jobs report, for the first half.
02:05Last Friday's jobs report showed the last Sunday's jobs report showed the
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