Throwing Trade

President Trump is giving August 1st the full tariff treatment. 

Over the weekend, Trump announced 30% tariffs on Mexico and the E.U., following Thursday’s announcement of 35% tariffs for Canada—all set to take effect August 1.

Trump acknowledged Mexico’s help slowing fentanyl and illegal migration, but said it hasn’t done enough to stop North America from becoming a “narco trafficking playground.” The E.U. called the tariffs unfair and promised it’s “ready to take necessary countermeasures,” though the White House warned any retaliatory tariff would be matched and added on top of the 30% baseline. Meanwhile, Canada paused its promised retaliation of 50% tariffs on U.S. steel and aluminum while negotiations continue. 

The U.S. Treasury posted a surprise $27B surplus in June, fueled partly by record tariff revenue, but remains on track for a larger-than-last year deficit.

ETERNAL PERSPECTIVE
Regardless of what happens in the global economy, God will remain in control. In the midst of uncertainty on earth, set your hope on the abundance we will enjoy with Christ when he comes. 

“Blessed be the God and Father of our Lord Jesus Christ. Because of his great mercy he has given us new birth into a living hope through the resurrection of Jesus Christ from the dead and into an inheritance that is imperishable, undefiled, and unfading, kept in heaven for you.” 
1 Peter 1:3-4 (CSB) (read full passage)