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Today — 23 May 2025Main stream

Trump trade threats bring volatility back to markets

✇Axios News
By: Courtenay Brown
23 May 2025 at 07:38

With a blast of early morning social media posts, President Trump escalated the trade war that the White House had spent weeks reducing to a low boil.

Why it matters: It was a reminder that there will be no trade peace in this administration, only trade war lulls of uncertain duration.

  • That reality could keep financial markets on edge.

Driving the news: Trump threatened to impose a minimum 25% tariff on Apple if the tech giant does not shift manufacturing to the U.S.

  • "I have long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else," Trump posted on Truth Social.
  • "If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.," he added — though it is legally dubious whether the White House could subject a single company to a specific tax.
  • Many analysts say that "Made in the USA" iPhones are unrealistic and if somehow it did happen, the product would be notably more expensive.
  • Apple's Tim Cook has announced billions in investments for U.S. manufacturing plants, though Trump is still unsatisfied.

About thirty minutes later, Trump said he would recommend a 50% import duty on European goods starting on June 1 — a far higher rate than the 20% "Liberation Day" rate that was later scaled back to 10%.

  • "The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with," Trump posted.
  • "Our discussions with them are going nowhere!"

The big picture: It is a sharp contrast to the administration's message in recent weeks, with top economic officials suggesting progress on a slew of trade deals ahead of the expiration of the 90-day pause on reciprocal tariffs in early July.

  • Commerce Secretary Howard Lutnick told Axios' Mike Allen this week that the administration would notch deals with "most" key trading partners by the summer.
  • "I think most countries, we'll have an idea of what we want to do with them," Lutnick said.
  • On Fox News this morning, Treasury Secretary Scott Bessent said that "There are 18 important trading partners. With the exception of the EU, most are negotiating in very good faith."

Between the lines: Vice president JD Vance met with the European Union's top official on Sunday and signaled the meeting would help kick trade talks into high gear.

  • But Trump has a sore spot for Europe, a gripe that goes back decades. On Friday, he repeated assertions that "Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations" kept the U.S. at a disadvantage.
  • Lutnick told Axios that "some countries are impossible" to negotiate with, including the European Union.
  • Bessent will often tell reporters that the bloc is the most difficult to negotiate with because "who do you call?," quoting Henry Kissinger.

The intrigue: Stocks fell — including Apple, which fell more than 2% — after Trump's threats. Europe's stock markets also took a hit.

  • Yields on U.S. government bonds had been shooting higher on concerns about the tax package making its way through Congress, which would add trillions to the deficit.
  • But now that trade is front and center again, the yield on the 30-year Treasury note briefly fell below 5%, before rising back some.

The bottom line: Trade tensions appeared to moving to the back burner.

  • Trump reminded financial markets that he could dial up tensions any time he wants.

Vestaboard’s Note is a smaller, cheaper version of its hypnotic split-flap display

✇The Verge News
By: Andrew Liszewski
23 May 2025 at 08:35
The Vestaboard Note attached to an off-white wall showing a message with a heart at the end.
The Vestaboard Note uses 45 split-flap modules compared to the larger version that has 132. | Image: Vestaboard

The original Vestaboard revived and modernized the split-flap mechanical displays that were once a mainstay of airports and train stations around the world, but at $3,499 it put a steep price on nostalgia. Its creators are back with a new version called the Vestaboard Note that’s much smaller and more affordable. It’s available for preorder now, starting at $899 – discounted from $1,299 – with deliveries expected to begin in December 2025.

The company had spent over a year developing a new version of the Vestaboard called the Smart Bits that was “a completely new way to experience Vestaboard’s patented character units” that also “pushed the limits of design, engineering, and manufacturing,” according to the company’s founder and CEO, Dorrian Porter. But, when faced with economic uncertainty as a result of President Trump’s tariffs on Chinese-made goods, the company pivoted and instead created the Note.

A short video showing how the split-flap mechanisms in the Vestaboard Note work.

Functionally, the Note is nearly identical to the original Vestaboard. But instead of using 132 split-flap mechanisms, which the company calls Bits, the Note only features 45. Each can display 64 alphanumeric characters plus other symbols like punctuation, solid colors, and a newly added red heart. The display measures 24.5 inches wide, or 28.4 inches with an optional bezel frame that adds $169 to the full retail pricing.

The Vestaboard Note on the wall of a kitchen showing a forecast for three days of the week.

Messages, patterns, and images can be created using a web interface or a free accompanying mobile app for iOS and Android. They’re sent to the Note over Wi-Fi or an Ethernet cable. In addition to a library of existing designs and inspirational quotes, the app allows messages to be scheduled, sent to other Vestaboard users you’re friends with, or even silenced during certain hours of the day. As hypnotic as the sound of over 2,800 spinning flaps may be, you probably don’t want the Vestaboard Note waking you up in the middle of the night.

Deals: M4 iPad Pro $300 off, M2 iPad Air $350 off, Apple Watch Series 10 from $299 ($160 off upgraded models), more

✇Latest Mac & Apple News
By: Justin Kahn
23 May 2025 at 08:45

While and Best Buy’s Memorial Day sales before we even kick off the holiday weekend, there are some additional deals to add to the list today. Amazon has now dropped a sizable $300 off the 2TB M4 iPad Pro, while more affordable models start from $809. That deals joins some notable offers on Apple’s Magic Keyboard as well as a giant price drop on the originally $1,049 iPad Air down at $699 shipped. Apple Watch Series 10 deals continue from $299 while upgraded models are up to $160 off alongside discounts on Twelve South’s TimePorter Apple Watch band organizer. All of that and more awaits below in today’s 9to5Toys Lunch Break.

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