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As Trump’s tariffs bite, investors should ensure the companies they own have strong fundamentals

The market is rewarding positive surprises slightly less than it has in the past, and punishing negative surprises more severely

Ben Paul
Published Sun, Aug 3, 2025 · 06:35 PM
    • Trump fired the commissioner of the US Bureau of Labor Statistics last week, after US job numbers for July came in weaker than expected
    • Trump fired the commissioner of the US Bureau of Labor Statistics last week, after US job numbers for July came in weaker than expected PHOTO: REUTERS

    [SINGAPORE] It seemed like Groundhog Day again when US President Donald Trump unveiled revised reciprocal tariffs on imports from dozens of countries last Thursday (Jul 31).

    The adjusted rates came just one day before the previously announced reciprocal tariffs were due to kick in; the new duties will take effect only on Aug 7.

    To me, it initially appeared that Trump was once again delaying the full implementation of his tariffs while maintaining pressure on America’s trading partners to open their markets.

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