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Trump Unveils 100% Tariff on Semiconductors
President Trump announced a 100% tariff on imported semiconductors shortly after revealing plans for new tariffs, with exemptions for companies manufacturing chips in the U.S. or committing to do so. Apple CEO Tim Cook supported this move after the company pledged an additional $100 billion in U.S. investment, raising its total domestic commitment to approximately $600 billion.
In earnings news, McDonald’s reported performance exceeding expectations but emphasized caution due to declining visits from low-income consumers. CEO Chris Kempczinski noted the importance of re-engaging this demographic, stating it is crucial as they typically visit McDonald’s more frequently than higher-income groups. This reflects growing economic disparity in consumer behavior, referred to as the “Technochasm.”
Additionally, NioCorp Developments has risen 54% since its recent low, partly due to a U.S. Department of Defense grant of up to $10 million to support domestic scandium production, essential for defense systems. The project is also strategically important for critical minerals like niobium and titanium.
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