News for May 1, 2025

Apple says Trump’s tariffs could add about $900m to its costs this quarter, even as it shifts more US-bound iPhone production to India and other devices to Vietnam.

McDonald's reported its biggest U.S. sales drop since the COVID-19 pandemic, saying tariff-driven economic worry is hurting lower-income customers and reducing traffic.

Amazon denied it would show tariff charges on product pages, while Shein and Temu are already passing import costs on to shoppers through higher prices and added fees.

Nvidia and Anthropic are clashing over U.S. chip export limits, with Nvidia saying Anthropic is exaggerating smuggling risks to support tighter rules on China.

Microsoft is raising Xbox prices on consoles, controllers, and some headsets, saying higher market costs and tariffs are forcing the changes.

General Motors cut its 2025 outlook after warning that President Donald Trump’s auto tariffs could cost it up to $5 billion this year.

Trump is replacing national security adviser Mike Waltz with Marco Rubio after a Signal chat scandal, while the administration also pushed several major court fights on immigration and federal policy.

Iran accused the U.S. of sending mixed signals and making provocative remarks as nuclear talks continue and tensions rise over the Houthis and new oil sanctions.

Trump’s China tariffs are making it harder and more expensive for U.S. fireworks companies to bring in supplies for July Fourth shows.

President Donald Trump asked for patience as the US economy shrank and blamed tariffs, trade disruption, and his predecessor for the weak data.