Tariffs Take Effect; Fed Officials Voice Concern Over Labor Market | Bloomberg Brief 8/7/2025

Briana Lupea

US equity futures rise after the Kremlin confirmed that Presidents Putin and Trump will meet for summit talks in the next few days. President Trump's sweeping new tariffs officially took hold, as he barrels forward with his turbulent push to reshape global trade. The president also announced his plans for a 100% tariff on chip imports while exempting Apple with its increased US investment. Three Fed officials voiced their concerns over the US labor market, pointing to a potential rate cut in