Trump Imposes New Tariffs on Imports, Apple Revenue Surges 9.6%

In a significant move, the White House announced that President Donald Trump will sign an executive order imposing new tariffs on imports from various trading partners. The order, which is set to take effect on August 1, will see the implementation of new tariff rates on a range of goods. The exact number of executive orders required to enforce these new policies remains unclear, but it is anticipated that multiple orders will be necessary to cover the breadth of the new tariff measures.

This development comes as part of a broader strategy by the Trump administration to address trade imbalances and protect domestic industries. The new tariffs are expected to impact a wide array of products, including those from key trading partners such as China, the European Union, and Mexico. The move is likely to escalate tensions in global trade relations, as affected countries may retaliate with their own tariffs or other trade barriers.

Meanwhile, Apple reported a significant surge in its third-quarter revenue, exceeding analyst expectations. The tech giant's revenue for the quarter ending June 28 reached 940 billion, a 9.6% increase from the previous year. This performance was driven by strong sales of iPhones, which contributed to the overall revenue growth. Apple had previously anticipated that the quarter would be impacted by 900 million in tariffs, but the actual impact was less severe than expected.

The strong financial performance by Apple comes at a time when the company has been under pressure due to trade tensions and concerns about its competitiveness in the artificial intelligence sector. The robust revenue figures have alleviated some of these concerns, demonstrating the company's resilience in the face of external challenges. Apple's performance also highlights the continued demand for its products, particularly the iPhone, which remains a key driver of the company's financial success.

In another significant development, Pimco, one of the world's largest bond managers, has expressed a preference for short- to medium-term European bonds. This preference is driven by the current economic uncertainties, including the impact of tariffs and trade policies on the European economy. Pimco's economists and portfolio managers have noted that the European economy is at risk of stagnation in the second half of the year due to these uncertainties. As a result, they are favoring bonds with lower interest rates, which are seen as a safer investment option in the current climate.

Pimco's stance on European bonds reflects a broader trend among investors who are seeking safe-haven assets in response to global economic uncertainties. The preference for short- to medium-term bonds is also influenced by the potential for further economic slowdown in Europe, which could lead to additional policy measures by the European Central Bank. These measures could include interest rate cuts or other forms of monetary stimulus, which would further support the value of European bonds.