Tariffs Take Effect, Trump Targets Chips, and A Welsh Island on Sale

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) US President Donald Trump doubled tariffs on Indian goods to 50% as a penalty for its purchases of Russian oil, escalating a fight with a key Asian partner and sparking outrage in New Delhi.(2) Donald Trump declared plans for a 100% tariff on semiconductor imports while promising to exempt companies such as Apple Inc. that move production back to the US, triggering a scramble among trading partners and companies worldwide to make sense of the threat.(3) Switzerland’s president left Washington without announcing any success in lowering the 39% tariff that US President Donald Trump has put on her country.(4) Three Federal Reserve policymakers voiced concerns about the US labor market Wednesday with remarks that pointed to a potential interest-rate cut in September.(5) The Bank of England is set to cut interest rates to the lowest level in over two years, as its policymakers contend with a slowing economy and a jobs market rattled by higher taxes.Podcast Conversation: A Private Island Fort Off the Coast of Wales Hits the MarketSee omnystudio.com/listener for privacy information.

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