Tariffs

Apple CEO Tim Cook addressed concerns about iPhone 17 price increases, stating they aren’t due to tariffs. This comes after a $100 price hike for the Pro model, despite unchanged entry-level prices. While analysts anticipated tariff-related increases, Cook highlighted Apple’s efforts to mitigate impact, including supply chain diversification by shifting production to India and Vietnam. Apple absorbs significant tariff costs and balances global operations with U.S. investments. The company also faces challenges from competitors and navigating the AI landscape, focusing on practical AI applications rather than overt marketing.

Amid trade tensions, Apple CEO Tim Cook has strategically managed relations with the White House, seemingly safeguarding Apple’s interests. While Cook’s efforts, including U.S. investment pledges, have been perceived as successful in mitigating tariffs, analysts predict potential price increases for the upcoming iPhone 17 lineup. This is driven by factors like rising component costs and shifts towards higher-end models, despite Cook’s focus on supply chain optimization. Price adjustments may be subtle, such as discontinuing entry-level storage options.

Sony has completed shifting its PlayStation 5 (PS5) console production for the U.S. market out of China in response to U.S. tariffs. According to CFO Hiroki Totoki, this supply chain realignment aims to mitigate the impact of trade tensions. The production shift for PS5 peripherals is expected to be finalized by the end of September 2025. While current PS5 prices in the U.S. remain stable, Sony will dynamically adjust future pricing based on various factors including profitability and market competitiveness.

President Trump announced a potential 100% tariff on imported chips, sparking concerns about price increases. He clarified that the tariff exemption would apply to companies manufacturing in the USA. Apple CEO Tim Cook met with Trump, showcasing Apple’s increased US investment pledge to $600 billion, including a smart glass factory in Kentucky. The investment also supports Apple’s US supply chain. Trump reiterated his “Made in the USA” focus, preferring domestic production over Apple’s investments in India.

Apple’s fiscal Q3 2025 saw a revenue boost due to accelerated device purchases driven by consumer anxiety over potential tariffs, contributing one percentage point to the company’s 10% year-over-year revenue growth. Initial tariff announcements led to speculation about significant iPhone price increases, prompting consumers to buy early. Apple absorbed $800 million in tariff expenses in the June quarter and anticipates $1.1 billion in the September quarter, potentially leading to a $50 price increase for the iPhone 17 series models.

Nintendo’s stock hit a two-month high, fueled by the successful launch of the Switch 2 and its safe-haven status amid market volatility. The new console sold over 3.5 million units in its first four days, surpassing the original Switch’s launch performance and setting a new company record. Analysts attribute this to strong hardware sales and the gaming sector’s resilience against trade tensions, impacting other Japanese gaming companies positively.

JPMorgan Chase CEO Jamie Dimon expresses caution about the U.S. economy’s prospects, anticipating potential headwinds. He cites cooling effects after government stimuli, the impact of previous administrations policies, and concerns in the private credit sector. Dimon suggests a potential economic slowdown with rising inflation and acknowledges the complexity added by factors like reduced immigration. Despite resilient job growth, he advises businesses and investors to prepare for challenges.

TSMC CEO C.C. Wei, addressing a shareholder meeting, acknowledged the indirect impact of US tariffs. While recognizing potential price and demand fluctuations, Wei remained optimistic about the semiconductor industry, particularly AI chips. He highlighted strong, consistently unmet demand for AI processors and confidently forecast a “very good” outlook for TSMC over the next decade.

The EU is bracing for potential trade escalation with the US following Trump’s tariff threats, particularly on steel and aluminum. The EU warns of retaliatory measures if new duties are imposed, and views upcoming talks with the US as crucial for de-escalation. Focused on protecting its economic interests, the EU seeks negotiation to remove tariffs and address trade barriers in key sectors, with significant countermeasures already prepared.

The EU is preparing retaliatory measures in response to the Trump administration’s decision to double steel and aluminum tariffs. The EU Commission views this as detrimental to resolving trade disputes through negotiation and will implement countermeasures if necessary. Canada also faces potential economic strain due to disrupted supply chains and possible job losses. Despite a legal challenge within the US, the tariffs are moving forward, signaling escalating trade tensions.