Cargo containers are stacked at the Jakarta International Container Terminal at Tanjung Pliok Port, Jakarta on August 7, 2025, with the US beginning to implement a new 19% tariff on Indonesian imports.
Yasuyoshi Chiba | AFP | Getty Images
As if the ever-changing trade obligations from US President Donald Trump weren’t difficult enough for businesses, here comes new complexity: the federal court of appeals.
On Friday, the U.S. Federal Circuit Court of Appeals ruled that Trump is imposing tariffs on China, Canada and Mexico in relation to fentanyl trafficking, while also ruled that tariffs on China, Canada and Mexico were overreaching his powers.
That said, these tariffs are allowed to last until October 14th, with the Trump administration having time to appeal to the U.S. Supreme Court.
In First Blush, this development may appear to bring profits to inventory. In the month, the S&P 500 added almost 2%, with Dow Jones Industrial Arage rising over 3% and Nasdaq Composite rising 1.6%.
However, on and off tariffs can cause more anxiety than certainty in planning strategies regarding addressing those obligations.
And that means potential volatility in the market. The August profits can be tested in September. This is, historically speaking, the worst month for the S&P 500. Investors may want to win consecutive months of gains, but at this point, additional uncertainties about trade policy could reduce those possibilities.
– CNBC’s Erin Doherty contributed to this report
Things you need to know today
Most Trump’s tariffs are illegal, the US will appeal court rules on Friday. Nevertheless, the court allowed the duties to be implemented until October 14th, giving the Trump administration time to appeal the decision to the Supreme Court. These are the tariffs affected by the verdict.
Core inflation in the US was checked up in July. The Personal Consumption Expense Price Index, released on Friday, showed an annual price rise of 2.9%. I’m in line with my expectations, but my reading is the best since February.
US stocks won in August. Even if it is S&P 500, Dow Jones Industrial Average and Nasdaq Composite It fell on Friday and earned all the gradual solid profits. Pan-European Stoxx 600 The index lost 0.64%, with most regions bruss in red.
China and India could potentially become partners instead of rivals, says Xi Jinping. According to Xinhua, the Chinese president made that statement at a security meeting on Sunday. According to Reuters, the sentiment was echoed by his Indian counterpart, Narendra Modi.
(Pro) Focuses on the number of jobs in August. After a disastrous July report led Trump to fire the US Secretary of Labor Statistics, investors will look to Friday’s August report, not just for data but for the president’s response.
And finally…
US Federal Reserve Chairman Jerome Powell and US President Donald Trump.
Evelyn Hockstein |Reuters
This is what it really means for Trump to gain control of the Federal Reserve Commission.
The efforts of Federal Reserve Governor Lisa Cook, President Donald Trump, are more than just firing someone. If successful, it is manipulation that indicates the earthquake change of an institution that has been considered more than politics due to age.
If Trump has forced the majority of members of the Governor’s Committee to vote for the way he wants, and the evidence now is certainly scarce that he can achieve such a goal – it would give him access to the key lever that controls the economy and the country’s financial infrastructure.
– Jeff Cox
