Introducing Radar Lite: A Whole Lot of Radar. For a Lot Less.

After Trump's announcement of a 30% tariff on EU goods, the EU responded with a finalized second list of countermeasures targeting US goods worth €72 billion ($84 billion), including Boeing aircraft, automobiles, and bourbon—if it decides to retaliate—as transatlantic trade tensions intensify.

The Australian dollar weakened this morning to around $0.656, reversing gains from last week, as renewed tariff threats from Trump raise concerns of a potential global trade war. Trump has proposed a 200% tariff on Australian pharmaceuticals, which, if implemented, could cost the Australian economy up to A$2.8 billion.

It has been a week of small releases regarding what’s coming on the tariff front on August 1st, and the S&P 500 continues to tread water after briefly setting new all-time highs yesterday.