Hey guys, before we get into today's show, I wanted to give you a heads up that I'm taking some time off.
You'll be in the more than capable hands of Victoria and Sonia, and I'll be back in the fall.
So in the meantime, enjoy the rest of your summer.
Good morning from the Financial Times.
Today is Friday, July 24th, and this is your FT News Briefing.
Donald Trump's tariffs are back.
And as the U.S.-Iran war continues, bond investors are not happy.
Markets have kind of recovered, and then all of a sudden it seems like we're mired back in the fight again.
So I think that investors are very keen for this to be over.
Plus, the protests in India are getting Prime Minister Modi's attention.
I'm Mark Filippino, and here's the news you need to start your day.
The Trump administration is hitting 60 countries with new tariffs of between 10 and 12.5%.
They'll go into effect today when the current 10% global duties expire.
Previous levies issued by the president during his so-called Liberation Day were struck down by the U.S.
Supreme Court earlier this year.
The latest tariffs use a different legal justification.
They're based on the outcome of an investigation by the U.S.
Trade Representative's Office into forced labor.
The probe scrutinized countries including big U.S.
Trading partners such as Japan, South Korea, and Canada.