Morning Business Report: Tariffs, insurance gaps, office dress codes 41NBC News

Starting August 1, imports from at least 14 countries will face steep new tariffs as part of the Trump administration’s latest trade move.

(LILAMAX)- Starting August 1, imports from at least 14 countries will face steep new tariffs as part of the Trump administration’s latest trade move. Goods from Japan, South Korea, and three additional nations will be hit with 25% tariffs.

White House Press Secretary Karoline Leavitt confirmed that official tariff letters have already been sent, with more expected in the coming days. The announcement sent shockwaves through the markets—dragging the Dow down 422 points in its worst session in three weeks. Major indexes across the board posted sharp losses.

A new study from Western & Southern Financial Group reveals that just 51% of U.S. adults have any form of life insurance. The report highlights significant disparities based on age, income, gender, and race.

As expected, older adults are more likely to carry policies, but overall participation remains low—raising concerns about financial preparedness and long-term security for many households.

The rising temperatures are fueling debate over workplace fashion—specifically, whether shorts have a place in professional settings.

Fashion critic Vanessa Friedman of The New York Times gave a cautious thumbs-up, saying that when styled appropriately, shorts can add “a bit of surprise, and cool” to otherwise dull outfits. However, beachwear, denim, and biker shorts remain widely discouraged in formal environments.

A recent survey by Talker Research, commissioned by Darwin’s Pet Food, shows the deep impact dogs have on their owners’ lives. The average dog parent cancels social plans four times a month and cuts outings short six times because their pup isn’t welcome.

Many say their dogs influence their work routines—and even where they work. The study also found a rise in DINKWADs: double-income, no kids—with a dog.