Trump Administration Announces New Tariffs on 60 Countries
Summary
The Trump administration imposes new tariffs on 60 countries while escalating tensions with Iran and the Houthis, driving oil prices above $100 and pushing mortgage rates to near-year highs. Markets reacted negatively to weak earnings from Alphabet and Tesla, raising concerns over AI spending and negative free cash flow. Meanwhile, IBM’s stock recovered slightly after a historic drop, as the company attributed missed targets to delayed deals and a sharp decline in mainframe sales.
Topics discussed
IBM ad: AI results over promises
Intro: Tariffs, oil prices, and IBM earnings
New Trump tariffs on 60 countries
Saudi nuclear deal contingent on Israel normalization
Houthi attacks and escalating Iran conflict
Oil hits $100; Tech stocks fall on AI spending fears
Rising Treasury yields and mortgage rates
Wage growth for lower-income workers
ReliaQuest ad: Agentic defense
Intel and Blackstone earnings beat expectations
IBM earnings miss and mainframe decline analysis
EU fines Google $1 billion; Show wrap-up
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