Headlines and Quotations
WSJ
Tech Products Will Face Separate Levies, Trump Says
- “Trump stressed in a social-media post Sunday that “NOBODY is getting ‘off the hook'” on tariffs and that levies on tech products are simply moving to a different bucket.”
Tim Cook’s ‘Long Arc of Time’ Prepared Apple for the Trade War
- “Tim Cook and his adherence to the “long arc of time” won—again. The iPhone is exempt from the White House’s latest escalation of the trade war with China, the Trump administration quietly announced late Friday.”
- “The company rushed India-made iPhones to the U.S., and Cook no doubt lobbied Trump for an exemption from the China tariffs that had soared past 100% in recent days.”
Russian Missile Strike Kills at Least 34 in Ukrainian City
Wealthy Buyers Are Backing Out of Multimillion-Dollar Home Deals
- “buyers pull out of deals or tap the brakes amid global economic uncertainty. In the U.S., the richest 10% have 36.3% of their total assets in stocks and mutual funds, according to a new report from Realtor.com, which found real-estate comprised 18.7% of their total assets.”
Iran Has a Reason to Strike a Nuclear Deal: Its Economy Is in Trouble
- “Iran’s currency is among the weakest in the world. Inflation remains well above 30%. Young people are struggling to find work, and a frustrated middle class can no longer afford to buy imported goods.”
Will the Last Investor to Leave America Please Turn Out the Lights
- “Where they were in 2020, 2011, 2008, 1998, or for the older among them, 1987. Last week should join that list.”
- “Stocks, bonds and the dollar all sold off at once.”
Bloomberg
Trump Says He’s Looking at Tariffs on Chips, Electronics Supply Chain
- ‘President Donald Trump denies that there was a tariff “exception” for certain electronics announced Friday, saying in a post on Truth Social that these products are still subject to existing tariffs of 20% and that the administration is looking into tariffs on the whole supply chain for electronics.’
- “(Electronics are) exempt from the reciprocal tariffs, but they’re included in the semiconductor tariffs, which are coming in probably a month or two,”
CNBC
China urges Trump to correct mistakes and heed ‘rational voices’ on reciprocal tariffs
- “We urge the U.S. to heed the rational voices of the international community and domestic parties, take a big stride in correcting its mistakes, completely abolish the wrongful action of ‘reciprocal tariffs,’ and return to the correct path of resolving differences through equal dialogue based on mutual respect,”
Billionaire Ray Dalio: ‘I’m worried about something worse than a recession’
- Bridgewater founder Ray Dalio said on Sunday that he’s concerned that the global monetary system will break down.
- President Donald Trump’s tariff policies and growing U.S. debt are contributing to a new unilateral world order, Dalio said.
Reuters
Japan policymaker wants stronger yen, says Tokyo shouldn’t sell Treasuries
“Japan must strengthen the yen, such as by helping boost the country’s industrial competitiveness, as the currency’s weakness has pushed up households’ living costs, the ruling party’s policy chief said on Sunday.”
- “As a U.S. ally, the government shouldn’t think about intentionally using U.S. Treasury holdings,”
