Trump

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.

The U.S. imposed tariffs up to 39% on Swiss goods, a move considered a “catastrophic blow” by Swissmem. The tariffs, second highest after Syria, sent Swiss “concept stocks” tumbling, with Roche, UBS, and watch group shares declining. The U.S. is a key export market for Switzerland, and the country had anticipated lower tariffs similar to those with the EU. Experts predict a negative impact on Swiss GDP, the franc, and export-reliant companies. The tariffs are scheduled to take effect on August 7th, but adjustments are still possible.

Elon Musk has launched the “America Party” to challenge the US two-party system. This move follows his public break with Donald Trump, driven by disagreements over the “Big Beautiful Bill,” particularly its impact on EV subsidies and the national debt. Musk’s new party aims for Congressional seats in upcoming mid-term elections, facing significant hurdles in gaining ballot access and electoral viability. The venture risks retaliation against Tesla, with declining sales already a concern.

Michael Wolff claims President Trump told him he leaked the New York Times story about Elon Musk’s alleged drug use, even taking credit for it in conversations. Wolff states Trump frequently discussed Musk’s mental state and drug use. The White House vehemently denies Wolff’s allegations, labeling him a fabricator. Musk has denied using illicit drugs, admitting only to prior prescription ketamine use for depression. This comes amid escalating public friction between Trump and Musk.

President Trump has extended the potential deadline for a U.S. ban on TikTok to September 17, 2025, marking the third such extension. This follows a 2024 law mandating ByteDance divest TikTok or face a ban. ByteDance has stated it will not sell the app. Despite the ongoing legal uncertainties, TikTok’s global user base continues to grow, exceeding one billion monthly active users outside of China.

DTTM Operations, representing Donald Trump, has filed trademark applications for telecommunications services, including mobile phones and retail ventures, potentially expanding his business interests. This follows earlier filings signaling a move into the metaverse, suggesting a broader diversification strategy beyond his traditional real estate and hospitality focus. The applications encompass virtual goods, digital token exchange, and virtual training services.

Following Elon Musk and Donald Trump’s public disagreement, the fallout continues. The White House is reviewing SpaceX’s multi-billion dollar contracts with the Department of Defense and NASA. This includes assessing SpaceX’s role in missile defense systems. The government is preparing potential retaliatory measures, giving it options should the political situation worsen despite Musk’s retracted threat to retire SpaceX’s Dragon spacecraft.

Donald Trump launched a website for his proposed “Golden Visa” program, offering U.S. residency for $5 million. He claims the program could eliminate the national debt by selling 10 million visas. The initiative, first announced in February, grants holders rights similar to green card holders, potentially leading to citizenship. The plan has faced skepticism due to its revenue claims.

Donald Trump confirmed a dispute with Elon Musk, stemming from Musk’s opposition to Trump’s proposed tax cuts and EV subsidy reductions. While Trump hinted at potential actions against Tesla (but supporting Starlink), both exchanged personal attacks before Trump expressed well wishes. Musk responded with a red heart on X, potentially signaling a desire to de-escalate tensions, suggesting a shift from recent public disagreements.

Donald Trump and Elon Musk’s relationship has soured, with Trump saying he isn’t speaking to Musk. Their public disagreements have sparked speculation about repercussions, and Trump is reportedly considering selling his Tesla. While House Speaker Mike Johnson hopes for reconciliation, Trump’s former advisor Peter Navarro downplayed the conflict, and the feud casts a shadow on the future of Tesla and SpaceX.