Traders work on the floor of the New York Stock Exchange during morning trading on August 05, 2025 in New York City.
Michael M. Santiago | Getty Images News | Getty Images
Markets have still got that loving feeling despite U.S. tariffs coming into effect. On Thursday, President Donald Trump’s “reciprocal” tariffs hit dozens of countries, with those not named in the list subject to a 10% baseline levy.
Aug. 7 was a culmination of quite a few deadlines the world has faced as it rides the rollercoaster of Trump’s tariff strategy, and while this deadline might already be in force, the tariffs are not really set in stone. Negotiations, of course, will keep happening, and countries could see some reprieve.
Remember, Trump walked back on “Liberation Day” tariffs a week after all the pomp and ceremony in the Rose Garden, and the July 9 deadline was pushed to Aug. 1, and then to Aug. 7. Steep tariffs announced on China have been on hold, with the deadline of Aug. 12 expected to be postponed.
So, while these might be the highest tariffs the world has seen since the Smoot-Hawley Act in the 1930s – are thay here to stay?
Now, if you’d excuse me, the taco shop downstairs may be opening for business.
– Lim Hui Jie
What you need to know today
The full list of U.S. tariffs around the world. After months of threats, deals, and posts on Truth Social, dozens of key U.S.trading partners were hit Thursday with “reciprocal” tariffs on their exports to the country. The U.S. has said that besides the list of countries here, all other exports to the U.S. will face a baseline 10% tariff rate.A new Fed governor. Trump on Thursday announced he has selected stephen Miran, chair of the Council of Economic Advisors, to replace Adriana Kugler, who resigned Friday. Miran will serve out Kugler’s term, which expires Jan. 31, 2026, and will not be a replacement for Fed Chair Jerome Powell.
markets are mixed. The Dow Jones Industrial Average gave back gains and closed lower on Thursday as investors pocketed some of their profits in a volatile session. In contrast,the tech-heavy Nasdaq composite advanced,and th
OpenAI Launches GPT-5,Making Advanced AI Accessible to All Users
openai announced the release of GPT-5,its newest and most powerful large language model,on thursday. The model is now available to all ChatGPT users, including those utilizing the free version.
According to OpenAI, GPT-5 represents a significant leap forward in AI capabilities, demonstrating improvements in intelligence, speed, and overall usefulness. The company highlights its enhanced performance across a range of applications, including writing, coding, and healthcare.
– Ashley Capoot
https://www.cnbc.com/2025/08/06/openai-is-giving-chatgpt-to-the-government-for-1-.html