Tariffs take effect amid economic concerns and Epstein case pressure

Inside 12 hours of President Trump’s new tariffs taking effect, uncertainty lingers as trade negotiations continue with countries including China, Switzerland, and India.

(NBC)- Inside 12 hours of President Trump’s new tariffs taking effect, uncertainty lingers as trade negotiations continue with countries including China, Switzerland, and India. The president called the deals “the greatest trade deals in the history of our country,” but not all agreements are finalized.

Heavy equipment manufacturer Caterpillar warned the tariffs could result in a $1.5 billion hit to its bottom line, while hotel giant Marriott cited tariffs as a factor in declining government and international travel to the U.S.

Shoppers like Jules Ronquillo from San Jose say rising costs are affecting their budgets. “I try not to go over 50 dollars, ’cause that’s my budget,” Ronquillo said. A recent Associated Press poll reveals that the rising price of groceries is a major source of stress for many Americans.

Caroline Chen, a business professor at San Jose State University, explained, “The idea that your fresh food is going to double or triple in price in a matter of days from when you previously purchased it, I think, is a cause of concern for anyone.”

Meanwhile, the White House faces growing calls for transparency in the Jeffrey Epstein case. President Trump suggested transcripts from a recent nine-hour Justice Department interview with Epstein’s associate, convicted sex offender Ghislaine Maxwell, could soon be released.

Maxwell’s legal team responded with a written statement emphasizing her due process rights, stating, “Whatever interest the public may have in Epstein… her legal options are viable, and her due process rights remain.”

Maxwell is currently appealing her conviction, while the House Oversight Committee has demanded the Justice Department hand over all files related to Epstein and Maxwell by August 19.