Morning Brew Daily Trump’s Universal Tariffs Begin & Apple Reports Best Revenue Since 2021
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Aug 1, 2025 President Trump's tariff deadline has major implications for trade relations, potentially affecting businesses and consumers. Apple has announced its best earnings since 2021, surprising many with its performance. Legislation to ban lawmakers from trading individual stocks gains momentum, raising ethical concerns. Figma's stellar IPO is making waves, while Musk's Boring Company struggles to meet expectations, earning it the title of the Dog of the Week. Additionally, AI-generated content is reshaping storytelling, particularly in popular series, challenging traditional licensing norms.
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Trump's Broad Tariff Strategy
- Trump's new tariffs affect 92 countries, with rates from 10% to 41%, reshaping global trade.
- Some countries, like Canada and Switzerland, faced unexpectedly high tariffs reflecting complex trade disputes.
Economic Resilience Amid Tariffs
- Despite rising tariffs, U.S. markets and the economy have remained resilient so far.
- Key questions remain about business stability and long-term investment in the U.S. amid tariff uncertainty.
Apple Beats Despite Tariffs
- Apple’s Q3 earnings showed strong iPhone sales and a 10% revenue growth, the biggest since 2019.
- Tariffs cost Apple $800 million this quarter, with potential future impacts looming depending on policy changes.