Elon, Inc.
Everybody's Business: Tariffs Interrupted--Bonds, iPhones and an Ancient Howl
· Summarized
Key takeaways
- The implementation of sweeping tariffs has caused significant volatility in the financial markets, sparking fears of negative impacts on the U.S. economy.
- Apple’s heavy reliance on China for manufacturing exposes it to risks from tariffs, making it a significant focus for investors watching market reactions.
- Scientific advancements like the de-extinction of species, while impressive, also raise important questions about the ethics and ramifications of genetic manipulation.
Summary
Tariffs and Market Turmoil
Max Chafkin and Stacey Vanek Smith dive into the repercussions of the tariffs implemented by the Trump administration. The discussion highlights the immediate impact these tariffs have had on market stability, particularly in the bond market, which has been erratic and tumultuous. Tracy Alloway from Odd Lots joins to further analyze how these tariffs are creating widespread uncertainty and will likely influence investor behavior.
Apple's Challenges Amid Tariffs
The podcast transitions to Apple's precarious position in the face of new tariffs. Mark Gurman, Bloomberg's Chief Correspondent covering consumer technology, clarifies that Apple is significantly impacted by tariffs due to its manufacturing reliance in China, where a large percentage of its iPhones are produced. He discusses potential price increases for upcoming iPhone models in the wake of tariffs and how Apple may handle rising costs without losing customers.
The Ancient Howl - Science's Latest Feat
The episode ends with a fascinating twist as the hosts discuss a breakthrough in de-extinction by Colossal Biosciences, which has successfully resurrected the Dire Wolf. Stacey expresses excitement over the idea of hearing an ancient howl for the first time in millennia, while Max adopts a skeptical stance about the scientific validity of the claim, emphasizing the nuances of genetic engineering in this context.
Sponsors
- Bloomberg Audio Studios · Hey everyone, Max Chaffkin here. Just a heads up. You're about to hear another episode of Everybody's Business, which is the new show that I have been working on with the wonderful financial journalist, Stacy Vanick Smith.
Show notes
In the second episode of Bloomberg BusinessWeek’s new podcast Everybody’s Business, Max Chafkin and Stacey Vanek Smith talk market turmoil. The stock market has been on a wild ride ever since the Trump Administration put sweeping tariffs in place, but it was trouble in the bond market that seemed to get the President’s attention and inspire the White House to hit pause on the tariffs. Tracy Alloway of the Odd Lots podcast joins to help explain.
And what does a big, global company like Apple do in a protectionist world? Mark Gurman, Bloomberg’s Chief Correspondent covering consumer technology, explains why the tariff announcement has hit Apple’s stock especially hard and how much you can expect the price of your iPhone to rise.
Finally, have scientists unearthed an ancient howl? Stacey is blown away while Max is (unsurprisingly) skeptical.
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