Business Archive

CNBC points out a US Customs notice about a glitch affecting the code that’s supposed to exempt freight already on the water from the new tariffs, whether from countries under the 90-day delay / 10 percent hike, or China’s increased 145 percent rate.

Prada is reportedly set to acquire Versace from Capri Holdings for $1.38 billion, scoring a $200 million discount on the previous valuation of the deal due to global trade uncertainties.

That’s according to a report from the Bank of England’s financial policy committee, warning that advanced AI trading models may learn to manipulate markets to “exploit profit-making opportunities” in a way that destabilizes financial industries or intentionally causes a crisis.

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.

Donald Trump’s tariffs threaten to blow up Shein’s supply chain, which heavily depends on Chinese manufacturing. Bloomberg reports that the Chinese government didn’t like Shein’s plans to move some of its manufacturing out of China — Shein wants to avoid tariffs as much as it can, and the Chinese government reportedly is looking to minimize manufacturing job losses.

After the markets reacted positively to a false report about a potential 90-day pause on tariffs, Donald Trump has decided to push the other way. After China responded to his new tariff plan with retaliatory tariffs of its own and apparently ended negotiations on a solution for TikTok (welcome to the trade war), he posted a new message on Truth Social Monday morning:

Somewhere in the loop of Reuters / CNBC newswires connected to stock traders’ terminals and the @deitaone account on X that usually reposts wire reports, a comment from Trump economic adviser Kevin Hassett was reported as though the White House would consider a 90-day pause on tariffs for countries other than China.