Trump Floats Blanket Tariff Rate of 10% or 15% for 150 Countries

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• 00:03

  Investors warn that the independence of the Federal Reserve matters as the market reacts.

• 00:09

  It's worried that a politicized Fed will not try its hardest to keep inflation down.

• 00:15

  That if Powell is fired and a new person wants to cut rates right away,

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  that you'll reignite the kind of inflation that we saw in the aftermath of the pandemic.

• 00:24

  Plus,

• 00:25

  national security concerns hold up a landmark deal for the UAE to buy Nvidia's cutting-edge chips.

• 00:32

  And President Trump tells Coca-Cola to put real sugar back in its American recipe.

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  It's Thursday, July 17th.

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  I'm Azhar Sukri for The Wall Street Journal.

• 00:42

  Here is the AM edition of What's News,

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  the top headlines and business stories moving your world today.

• 00:53

  The dollar rebounded this morning after President Trump said he plans to write to as many as 150 nations,

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  setting a blanket unilateral tariff rate, which he said could be 10% or 15%.

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  Trump made the comments to reporters at the White House and said in an interview later yesterday that the administration hasn't decided on the exact rate.

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  goods from most countries are currently subject to a 10% baseline tariff,

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  while last week Trump floated the idea of blanket levies of 15% to 20%.

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  The president has already sent roughly two dozen letters to individual trading partners,

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  including the European Union,

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  Japan and South Korea, setting out tariff rates that will kick in on August 1st.

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  Meanwhile,

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