On Thursday, the White House announced a flurry of new reciprocal tariffs just hours before its midnight deadline. The new rates go as high as 50% scheduled to take effect August 7th, targeting more than 90 countries and territories.

Meanwhile, the August 1st levies, including those imposed on America’s top three trading partners Mexico, Canada, and China commenced Friday. Global stock markets tanked, leaving U.S. trading partners scrambling to curb economic volatility.

Joining the discussion: 

• Yan Liang is a Chair Professor in Economics at Willamette University.
• Otaviano Canuto a Senior Fellow at the Policy Center for the New South and a Former Vice President of the World Bank.
• Sourabh Gupta is a Senior Asia-Pacific International Relations Policy specialist at the Institute for China-America Studies.
• Anthony Chan is a Former Chief Economist at JPMorgan Chase & Co.