More from US tariffs: how Trump’s tax is hitting Big Tech and beyond
The tariff apocalypse has not been canceled.
The UK is prepared to cut a tax that targets Silicon Valley, and other countries may follow suit.
9AM PT tomorrow, April 10th, and they’ll ship in June, just like the UK/EU/Canada ones that already went on preorder today during the Trump tariff flip-flop kerfuffle.
Delta reported its quarterly earnings today, but the company wasn’t able to provide investors an estimate on its finances for the year. “Given the lack of economic clarity, it is premature at this time to provide an updated full-year outlook,” says Delta CEO Ed Bastian.
“With broad economic uncertainty around global trade, growth has largely stalled.” The comments come just as China responded to Trump’s tariffs with its own hike on US goods.
The YouTuber’s line of chocolate bars are getting hit by new taxes on imports. MrBeast said on X that for products sold outside the US, it would be cheaper to produce them abroad given the trade war Trump created.
“A random price hike was pretty brutal ngl,” he wrote in a follow up post. “We’ll figure it out. I feel for small businesses though. Could really be a nail in the coffin for them.”
Reuters reports US memory manufacturer Micron has told customers it will add surcharges to some of its products once Trump’s tariffs take effect. Micron’s customers put those chips are largely made in China, Taiwan, Japan, Malaysia, and Singapore, in products like laptops, servers, and cars, which will also get more expensive.
The report quotes an executive at an unnamed Asian memory chip manufacturer:
“If they don’t want to bear the taxes, we cannot ship the products. We cannot be held accountable for the decisions made by your government...With this kind of tax rate, no company can generously say, ‘I’ll take on the burden’.”
Apple’s “short-term” solution to Trump’s tariffs may be upping its iPhone exports from India, where the 26 percent tariff is about half of China’s. The company is on track to make 25 million phones there this year, with 10 million for the local market, but might redirect more to the US.
The Wall Street Journal reports that Apple sees the situation as “too uncertain” to alter its manufacturing plans just yet though.
The company’s early data suggests a “much smaller-than-feared 0.2 percent fall in first-quarter operating profit,” according to Reuters, likely driven by the stockpiling of memory chips by manufacturers ahead of Trump’s tariffs, with a related uptick in Galaxy S25 sales driven by panicked buyers in the US. Regardless, the quarter ahead looks grim so a reversal of Samsung’s dilemma is unlikely.
Good video from Billboard’s Kristin Robinson.