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Hereās what you need to know
A 90-day tariff pause sent stocks soaring. Treasury Secretary Scott Bessent insists President Trumpās pause isnāt because of the market volatility.
The bounce back is a relief. One analyst had said the tariffs would āgo down as the worst U.S. policy mistakeā since 1930. He called it an āArmageddon scenarioā for U.S. tech.
Delta Air Lines, meanwhile, sent a warning about the economy. In its 2025 outlook, it warned that growth has largely stalled due to āuncertainties around global trade.ā
Jamie Dimon also warned of a tariff-induced recession. He hopes President Trump will work towards preventing more damage.
Even MrBeast is upset about tariffs talk. If the pause is lifted, he might make Feastables somewhere else.
And how much would it cost Apple to make iPhones in America? Bank of America tried to find out.
Relief rally
Talk about whiplash! In a social media post, the president announced a 90-day pause on tariffs for most countries.
No surprise, U.S. market indexes immediately shot up after the announcement.
In the same post, Trump wrote he was raising the tariff rate on China from 104% to 125% āeffective immediately.ā
He said the pause is all based on the fact that more than 75 countries called U.S. Representatives to negotiate. Quartzās Kevin Ryan and Catherine Baab have more.
All the times the āOracle of Omahaā pulled off a miracle
We think for his next venture, Warren Buffett should consider selling crystal balls.
The billionaire chairman and CEO of Berkshire Hathaway made headlines after it was revealed Berkshire sold $134 billion in equities and was sitting on a record $334 billion pile of money.
For the past two years, his company has been stockpiling cash and selling stocks, meaning Berkshire remains in strong financial shape as the rest of the market is in tumult as a result of President Donald Trumpās tariffs.
One of our favorite Buffett-isms? āPredicting rain doesnāt count. Building arks does.ā And, clearly, over the course of his financial career, heās done just that. Quartzās Shannon Carroll rounded up eight times Buffet called the stock market right.
More from Quartz
ā From coffee to cars, here are 10 products that are about to cost more
š«Ø Some fund managers are worried Trump āmight be insaneā
š¤· And Walmart ditched its earnings guidance because tariffs have caused such confusion
š Meanwhile, Amazon reportedly has already canceled some wholesale orders
š Anywyay, wanna go away for four years? Here are the 5 colleges with the best dorms
šµ Speaking of book smart ā here are the 10 most financially literate states
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