President Donald Trump sent markets into a tailspin Monday after officially announcing sweeping 25% tariffs on all imports from Japan and South Korea, starting Aug. 1. The new tariffs apply to all goods from the two Asian economies and are in addition to any existing sector-specific duties.
The legal challenge arises from an earlier ruling by the European Commission this year, which determined that Apple’s rules obstructed developers from guiding users toward cheaper payment methods beyond the App Store.
U.S. stocks climbed on Wednesday, with the S&P 500 setting fresh record highs after a surprise decline in private payrolls boosted expectations of Federal Reserve rate cuts.
Netflix is reportedly exploring a partnership with Spotify for music awards shows or a live concert series as part of its push to provide more live streaming.
Tesla does not break down its sales numbers by geography but said that it sold 373,728 Model 3 and Y vehicles and 10,394 units of its more premium offerings, including the Cybertruck.
However, sales of Tesla’s EVs made at its factory in Shanghai dropped 6.8% YoY in the three months from April to June, marking the third quarter of consistent decline.
