CNBC TechCheck Evening Edition: July 14, 2025
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CNBC
28 minutes ago
- CNBC
Wall Street analyst Dan Ives brings his out-of-the-box fashion style to a new clothing line
Dan Ives is bringing a new definition to the term "street wear". The Wedbush Securities global head of technology research on Thursday launched a unisex fashion line with Snow Milk, a Brooklyn-based brand specializing in thrifted, upcycled and new, numbered clothing. The shirts and other items will let followers of Ives — known for his eccentric clothing as well as his bullish view on tech stocks — to mimic his unique sartorial choices. "I dress differently. I go to the beat of a different drum, but it's just like I do in terms of picking stocks," Ives told CNBC ahead of the launch. "The clothing is symbolic of just the way that I attack investing." The line includes a long-sleeve button-down and short-sleeve polo covered in graffiti-inspired designs. One piece has a portrait of Ives on the sleeve, sporting sunglasses and a hat. Items can be purchased online, as well as in pop-up stores in cities including New York and Los Angeles. Ives is based in New York while Wedbush is headquartered in L.A. Ives' collaboration with Snow Milk marks the streetwear brand's first partnership with someone from the world of finance, according to a press release. Ives said it was important to find a brand that brings the same originality and authenticity to clothing as he does to financial research. With Wall Street firms allowing more flexibility in workwear, Ives said this felt like the right time to officially break into fashion. Fans have long asked for him to make clothes or to provide advice on where to shop in hopes of building a similar wardrobe. "It's not just cookie cutter, Brooks Brothers suits," Ives, a frequent guest on CNBC, said of today's Wall Street fashion. Ives said this could be the first of many product drops that ultimately form a clothing line. Down the road, Ives said he'd like to expand into garments like sweatshirts and accessories such as hats. The well-known tech analyst has long said his clothing choices help him make market calls that sometimes seem idiosyncratic. Now, Ives said he hopes the clothing pieces inspire others to similarly make bold decisions in both fashion and investing. "In my decades on CNBC, viewers have seen my fashion evolve along with my view of tech stocks," Ives said. "This is just another step in that journey."
Yahoo
2 hours ago
- Yahoo
Trump tariffs live updates: Trump boasts of tariff billions, vows to punish China for Russian oil
President Trump took to Truth Social on Thursday boasting that billions of dollars in tariffs were now flowing into the US. "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!" Trump wrote. The US president added that this additional money will come "largely from countries" that he says has taken "advantage" of the US. "RECIPROCAL TARIFFS TAKE EFFECT AT MIDNIGHT TONIGHT! BILLIONS OF DOLLARS, LARGELY FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS, LAUGHING ALL THE WAY, WILL START FLOWING INTO THE USA." Trump's sweeping "reciprocal" tariffs hit US trade partners on Thursday when his deadline to strike deals expired at 12:01 a.m ET. As the trade deadline loomed Wednesday, Trump signed an executive order imposing an additional 25% tariff on India over its purchases of Russian oil. The new tariff, which will come into effect in 21 days, is set to "stack" on top of an existing country-specific tariff of 25%, which takes effect today. In doing so, Trump is set to make good on a threat for higher tariffs on India, as he has accused the country of effectively financing the Russian war in Ukraine. "They're fueling the war machine," he charged in a CNBC interview. Trump also floated the idea of higher tariffs on China due to Beijing's purchase of Russian oil. Trump said he would punish China with additional tariffs. Outside of China and India, Switzerland is the developed nation whose goods face a whopping increase: up to 39%. You can see the new rates Trump is set to levy in the graphic below: Trump also said that he would soon announce tariffs on semiconductor and pharmaceutical imports, as he prepares to add more sectoral duties to his mix of tariffs. He said duties on pharma could eventually balloon as high as 250%. On Wednesday, during a White House event with Apple (AAPL) CEO Tim Cook, he suggested he would impose a tariff of 100% on "all chips and semiconductors coming into the United States." In the past several days, Trump has unleashed a flurry of deals and trade moves leading up to his self-imposed deadline: Trump granted Mexico, the US's largest trading partner, a 90-day reprieve on higher tariffs. Trump hiked tariffs on Canadian imports to 35%, though goods contained in the US-Mexico-Canada agreement are exempt, keeping this hike's impact limited so far. The US agreed to a trade deal with South Korea. The agreement includes a 15% tariff rate on imports from the country, while the US will not be charged a tariff on its exports. Trump imposed 50% tariffs on semi-finished copper products starting Aug. 1. The president signed an order to end the de minimis exemption on low-value imports under $800, thereby applying tariffs from Aug. 29. Trump signed another order to impose a total of 50% tariffs on many goods from Brazil. However, it exempts key US imports like orange juice and aircraft parts. The US and EU agreed to a trade deal that imposes 15% tariffs on EU goods. The nations are still working on finalizing many terms of the deal. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Trump says billions of dollars will now 'flow' into the US due to tariffs President Trump took to his social media platform Truth Social on Thursday and boasted of the billions of dollars that will now flow into the US due to tariffs. "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!" Trump wrote. Trump wrote that this money will come from countries he claims has taken advantaged of the US for years. ."RECIPROCAL TARIFFS TAKE EFFECT AT MIDNIGHT TONIGHT! BILLIONS OF DOLLARS, LARGELY FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS, LAUGHING ALL THE WAY, WILL START FLOWING INTO THE USA." Trump's sweeping "reciprocal" tariffs hit US trade partners on Thursday when his deadline to strike deals expired at 12:01 a.m ET. Now the world waits to see how these new tariffs will affect the global economy. Toyota warns of $9.5B tariff hit, slashes annual profit forecast Japan's Toyota Motor (TM) stock fell over 1% in premarket trading on Thursday after saying it expected a nearly $10 billion hit from President Trump's tariffs on cars imported into the US. Reuters reports; Read more here. Trump vs Modi: India hits back at at US for 50% tariff India's Prime Minister Narendra Modi and his government have fired back at Trump after the US president announced 50% tariffs on the South Asian country. Trump hit India with 50% tariffs, 25% of which will take effect on Thursday, due to India's purchase of Russian oil. Bloomberg News reports: Read more here. TSMC hits record; Taiwan says tech giant exempt from US tariffs Taiwan Semiconductor Manufacturing Co. (TSM) shares rose 5% in premarket trading on Thursday after announcing it will not have to pay 100% tariff on sales to the US. Bloomberg News: Read more here. Trump floats possible tariffs on China for buying Russia oil Bloomberg News reports: Read more here. Trump says he plans to set tariffs on computer chips at 100% President Trump said on Wednesday at a press conference with Apple CEO Tim Cook that he is planning to set a 100% tariff on semiconductor imports. Companies that pledge to invest in manufacturing in the US, however, will be exempt from the tariff. Reuters reports: Read more here. Apple set to dodge bulk of India tariffs Yahoo Finance's Dan Howley reports: Apple CEO Tim Cook has arrived at the White House. He is scheduled to speak with President Trump this afternoon and unveil an additional $100 billion investment in US manufacturing, on top of the $500 billion commitment already pledged by the company. Modi's rival blasts 'bully' Trump as public opinion hardens Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Trump order lowering tariffs on EU autos still days away: source European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. Alcohol groups say tariffs put $2B in sales and 25,000 jobs at risk In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. Trump hits India with additional 25% tariff over Russia oil buys President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. Carney says he'll look at opportunities to remove tariffs on US Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Trump says Japan to import Ford's huge F-150 pickup trucks President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. US investments under trade deal will be determined by benefits for Tokyo: Japan Reuters reports: Read more here. Honda Q1 operating profit halves on tariffs Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. China draws red lines on US chip tracking with Nvidia meeting China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. Trump says he's readying more tariffs on Russian energy buyers Bloomberg News reports: Read more here. Canada to help lumber industry cope with US tariffs: Carney Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Starbucks under pressure again as Brazilian tariffs hike coffee costs Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. EU continues to press for tariff exemption on wine, spirits as part of US deal The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. President Trump took to his social media platform Truth Social on Thursday and boasted of the billions of dollars that will now flow into the US due to tariffs. "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!" Trump wrote. Trump wrote that this money will come from countries he claims has taken advantaged of the US for years. ."RECIPROCAL TARIFFS TAKE EFFECT AT MIDNIGHT TONIGHT! BILLIONS OF DOLLARS, LARGELY FROM COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS, LAUGHING ALL THE WAY, WILL START FLOWING INTO THE USA." Trump's sweeping "reciprocal" tariffs hit US trade partners on Thursday when his deadline to strike deals expired at 12:01 a.m ET. Now the world waits to see how these new tariffs will affect the global economy. Toyota warns of $9.5B tariff hit, slashes annual profit forecast Japan's Toyota Motor (TM) stock fell over 1% in premarket trading on Thursday after saying it expected a nearly $10 billion hit from President Trump's tariffs on cars imported into the US. Reuters reports; Read more here. Japan's Toyota Motor (TM) stock fell over 1% in premarket trading on Thursday after saying it expected a nearly $10 billion hit from President Trump's tariffs on cars imported into the US. Reuters reports; Read more here. Trump vs Modi: India hits back at at US for 50% tariff India's Prime Minister Narendra Modi and his government have fired back at Trump after the US president announced 50% tariffs on the South Asian country. Trump hit India with 50% tariffs, 25% of which will take effect on Thursday, due to India's purchase of Russian oil. Bloomberg News reports: Read more here. India's Prime Minister Narendra Modi and his government have fired back at Trump after the US president announced 50% tariffs on the South Asian country. Trump hit India with 50% tariffs, 25% of which will take effect on Thursday, due to India's purchase of Russian oil. Bloomberg News reports: Read more here. TSMC hits record; Taiwan says tech giant exempt from US tariffs Taiwan Semiconductor Manufacturing Co. (TSM) shares rose 5% in premarket trading on Thursday after announcing it will not have to pay 100% tariff on sales to the US. Bloomberg News: Read more here. Taiwan Semiconductor Manufacturing Co. (TSM) shares rose 5% in premarket trading on Thursday after announcing it will not have to pay 100% tariff on sales to the US. Bloomberg News: Read more here. Trump floats possible tariffs on China for buying Russia oil Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Trump says he plans to set tariffs on computer chips at 100% President Trump said on Wednesday at a press conference with Apple CEO Tim Cook that he is planning to set a 100% tariff on semiconductor imports. Companies that pledge to invest in manufacturing in the US, however, will be exempt from the tariff. Reuters reports: Read more here. President Trump said on Wednesday at a press conference with Apple CEO Tim Cook that he is planning to set a 100% tariff on semiconductor imports. Companies that pledge to invest in manufacturing in the US, however, will be exempt from the tariff. Reuters reports: Read more here. Apple set to dodge bulk of India tariffs Yahoo Finance's Dan Howley reports: Apple CEO Tim Cook has arrived at the White House. He is scheduled to speak with President Trump this afternoon and unveil an additional $100 billion investment in US manufacturing, on top of the $500 billion commitment already pledged by the company. Yahoo Finance's Dan Howley reports: Apple CEO Tim Cook has arrived at the White House. He is scheduled to speak with President Trump this afternoon and unveil an additional $100 billion investment in US manufacturing, on top of the $500 billion commitment already pledged by the company. Modi's rival blasts 'bully' Trump as public opinion hardens Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Rahul Gandhi, Narendra Modi's most recognizable political rival, has come out to call President Trump a "bully" for his negotiation tactics. Bloomberg reports: Read more here. Trump order lowering tariffs on EU autos still days away: source European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. European automakers will have to hold on a little while longer before President Trump lowers auto tariffs as EU-US negotiations continue. Reuters reports: Read more here. Alcohol groups say tariffs put $2B in sales and 25,000 jobs at risk In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. In a letter to President Trump, a group comprising of 57 alcohol industry firms have said that Trump's tariffs of 15% on EU goods could reduce the value of alcohol sales by almost $2B and put 25,000 jobs at risk. Reuters reports: Read more here. Trump hits India with additional 25% tariff over Russia oil buys President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US president threatened India with higher tariffs earlier this week, which India's Prime Minister Narendra Modi called "unjustified," also calling out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. In the early days of trade negotiations, relations between the US and India appeared more friendly, with both sides saying they would reach a deal within days. However, over recent months ,things seem to have turned sour as neither side can agree on some of the finer details within the deal, which concern dairy and agricultural products. As a result, a trade war seems to have developed between the two sides, and now with this additional 25% tariff gift from Trump to Modi, the two seem further away from reaching an agreement than ever before. Carney says he'll look at opportunities to remove tariffs on US Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Canadian Prime Minister Mark Carney said that he will look to assess ways in which he can remove some counter-tariffs against the US. Carney's statement seems at odds with his earlier commitments to fight back against President Trump's trade war. Bloomberg News reports: Read more here. Trump says Japan to import Ford's huge F-150 pickup trucks President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. President Trump said that Japan has agreed to accept imports of Ford's F-150 pick up trucks. This latest news is seen as a sign that the two sides may not be on the same page when it comes to their understanding of the trade agreement reached last month. Bloomberg News reports: Read more here. US investments under trade deal will be determined by benefits for Tokyo: Japan Reuters reports: Read more here. Reuters reports: Read more here. Honda Q1 operating profit halves on tariffs Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. Shares in Honda Motor (HMC) rose 2% premarket on Wednesday after the automaker reported a 50% drop in first-quarter operating profit. A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. China draws red lines on US chip tracking with Nvidia meeting China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. Trump says he's readying more tariffs on Russian energy buyers Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Canada to help lumber industry cope with US tariffs: Carney Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Starbucks under pressure again as Brazilian tariffs hike coffee costs Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. EU continues to press for tariff exemption on wine, spirits as part of US deal The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here.
CNBC
2 hours ago
- CNBC
Confused and concerned, CEOs get to grips with Trump's new tariff regime
Business leaders are scrambling to get their head around a new era of tariff complexity. The bemused mood among European chief executives on Thursday came as U.S. President Donald Trump sought to reshape the global trading system in America's favor. The Trump administration slapped higher tariff rates of between 10% to 50% on dozens of trading partners just after midnight ET, following months of delays and extensions. As of Thursday, most imports into the U.S. will now face a baseline tariff rate of 10%, although the overall tariff effective tariff rate is estimated to have climbed to more than 17%, according to the Yale Budget Lab think tank. That represents the highest level of tariffs since 1935, during the Great Depression. Zurich Insurance CEO Mario Greco said on Thursday that he was "confused" by Trump's tariff announcements, according to Reuters. He reportedly added on a press call that the U.S. tariff blitz appeared to "part of the game, to create chaos." The Swiss insurer, which does not expect a new era of global trade rivalry to impact its business, said it was well positioned over the coming months. "Look, what is important for business is to have clarity and to have decisions. Business adapts and adjusts itself and we are prepared to any kind of conditions in the market, but clarity is very important," Greco told CNBC's "Squawk Box Europe." Oliver Bate, CEO of German insurance giant Allianz, shared Greco's assessment of the tariff situation. "If you are not confused, I don't know what confuses a human being. But you have to see through the confusion," Bate told CNBC. "So, I can talk about being confused but our customers expect us to provide protection to them. Second, it doesn't affect us very much directly. The thing that does affect us on the accounting level is the volatility around foreign exchange and the potential volatility in financial markets," he added. Major trading partners, such as the U.K., Japan and South Korea, have secured deals to get lower tariffs than those announced by Trump in early April. The European Union has also struck a framework agreement to lower tariffs on most EU goods to 15%. Other countries have been hit harder by Trump's trade war. The U.S. has imposed levies of 50% on goods from Brazil, 39% on Switzerland, 35% on Canada and 25% on India. Carsten Knobel, CEO of German consumer goods and adhesives maker Henkel, described the current market environment as "very challenging and uncertain." "This is reflected due to the geopolitical tensions but also the trade and tariff conflicts — and also the military escalations we see in a lot of countries," Knobel told CNBC on Thursday. Worries about a lack of trade certainty was a common thread during earnings season. "One of the things that for us, if I look at the medium to long term outlook, is certainly a concern is the lack of certainty," Vincent Clerc, CEO of Danish shipping giant Maersk, told CNBC. "One thing is having to deal with baseline tariffs or tariff regime that you know you can count on when you're making investment decisions or when you're making strategic decisions," Clerc said. "What we feel from a lot of our customers is that this uncertainty is causing a delay on investments and could have an impact on global growth and global demand as people are waiting to see what is the right decision." Maersk, widely considered a barometer for global trade, said a sustained period in which businesses can get to grips with the announced trade deals would help customers manage a new phase of globalization. Siemens CEO Roland Busch, meanwhile, welcomed the passing of the latest tariff deadline, while making clear the development was likely to have a limited impact on the business. "The most important point was, of course, to have certainty now, which is good. We would have wished for lower tariffs. We are clear for global trade but the impact on our Siemens business for this current fiscal year is minor," Busch said.
