CNBC Daily Open: Trump brandishes tariffs for peace, not a trade war

Here's a tariff we tin get behind. At a White House gathering connected Monday with NATO's caput general, Mark Rutte, U.S. President Donald Trump said helium would present "tariffs astatine astir 100%" connected Russia's commercialized partners if the Kremlin doesn't scope a woody to extremity its penetration of Ukraine successful 50 days.

Notably, the punitive measures volition beryllium implemented arsenic "secondary tariffs," Trump said. Unlike Trump's mean tariffs, nether which a circumstantial state is slapped with a levy, secondary tariffs enforce the work on countries and entities that bargain Russia's exports.

While those moves were meant to weaken Russia's economy, they bash tally the hazard of drafting different countries' ire. According to data from the International Trade Centre, successful 2024, Russia's biggest export was oil, and its biggest buyers were China, India and Turkey, successful that order. That means those nations, among others, would efficaciously look a tariff of 100% from the U.S. — the highest of each updated numbers announced truthful far — if they don't displacement their buying patterns.

That said, it's refreshing to deliberation of tariffs not arsenic a limb successful a commercialized warfare (even if determination mightiness beryllium collateral damage), but being utilized for peace.

Trump threatens 100% tariffs connected Russian export buyers. The U.S. president said helium volition impose "secondary tariffs" connected Moscow if the state doesn't extremity its warfare connected Ukraine successful 50 days.

U.S. stocks tick up adjacent aft renewed tariff threats. All large U.S. indexes posted mild gains Monday stateside. The Stoxx Europe 600 inched down 0.06%, but London's FTSE 100 closed 0.64% higher to hit a grounds high.

'Patriotism' buying is suppressing inflation. Kevin Hassett, manager of the U.S. National Economic Council, theorized that tariffs aren't causing prices to emergence due to the fact that Americans are buying home products.

Elon Musk doesn't enactment Tesla-xAI merger. The tech billionaire replied successful the antagonistic to a question regarding a imaginable deal. Musk, however, said helium backs Tesla investing successful xAI, and volition clasp a shareholder ballot connected it.

[PRO] Tesla's supplier has imaginable beyond batteries. Contemporary Amperex Technology, besides known arsenic CATL, supplies artillery packs to large electrical companies. Analysts deliberation the institution tin besides beryllium a "software ecosystem provider."

Inflation study Tuesday should supply clues connected the interaction tariffs are having connected prices

June's ostentation study volition beryllium examined not truthful overmuch for what the header numbers amusement than what's successful the underlying data, particularly whether tariffs are starting to person an impact.

"I'm looking astatine autos and I'm looking astatine apparel, and past month's speechmaking was precise debased for some of them, which is precise counterintuitive to what you would have" expected, said Chris Hodge, caput U.S. economist astatine Natixis CIB Americas. "These are 2 sectors that are precise delicate to accrued tariffs."

— Jeff Cox