The Rundown Samsung Profits Crushed by U.S. Chip Controls, Waymo to Test AVs in Philly
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Jul 8, 2025 Recent U.S. tariffs are crushing Samsung's profits, posing challenges for international markets. Meanwhile, Waymo is gearing up to expand its autonomous vehicle testing in Philadelphia, incorporating human drivers for safety. The podcast also highlights the exciting launch of the Esports World Cup in Saudi Arabia, featuring a massive $70 million prize pool and attracting over 2,000 competitors from around the globe, emphasizing Saudi Arabia's push for economic diversification in sports.
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Trump's Tariff Playbook
- President Trump reintroduced tariffs to push countries into making favorable trade deals with the US.
- Despite the drama, markets are unlikely to meltdown and may quickly buy the dip.
Samsung's Profit Fall
- Samsung's profits plunged 56% due to US chip export restrictions and tariffs.
- The company's foundry and consumer electronics businesses were heavily impacted by these policies.
US Policies Hammer Samsung
- Samsung can't sell top AI chips to China due to US export restrictions, hurting its foundry business.
- Tariffs in the US further strain Samsung's consumer electronics sector.