On Thursday, July 23rd, 2026, President Trump announced the imposition of new tariffs between 10% and 12.5% on imports from 60 countries. These tariffs are a response to allegations of forced labor practices in those countries. The new duties are scheduled to take effect at 12:01 a.m. ET on Friday morning, July 24th.

In addition to these tariffs, Trump has also imposed 50% tariffs on dairy, alcohol, and cars imported from Canada. Meanwhile, the Strategic Petroleum Reserve has reached its lowest level since 1983 amid surging oil prices. The Federal Reserve, now chaired by Kevin Warsh, has kept interest rates unchanged.

Other notable developments include a White House teleprompter operator being placed on leave due to alleged insider trading related to Trump's speeches, and Truth Social planning to offer Wall Street firms expedited access to the president's posts.

Bank of America CEO Brian Moynihan commented on American spending habits, while the U.S. economy added 57,000 jobs in June, lowering the unemployment rate to 4.2%.

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