Seen and heard, tariff edition
“We have three airplanes that we had in China ready for delivery. I think we’ve got two of those already back and we’re bringing the third airplane back. They have in fact stopped taking delivery of aircraft due to the tariff environment.”
— Kelly Ortberg, the C.E.O. of Boeing, on CNBC on Wednesday. The company, whose longstanding ties to Beijing have been strained by U.S. tariffs, planned to deliver 50 airplanes to China this year, but may no longer do so.
“The United States was more than just a nation. It’s a brand, it’s a universal brand, whether it’s our culture, our financial strength, our military strength, America rose beyond just being a country — it was like an aspiration for most of the world, and we’re eroding that brand right now.”
— Ken Griffin, the C.E.O. of Citadel, speaking Wednesday at Semafor’s World Economy Summit in Washington. He added: “I’ll tell you what’s not going to happen is people are not going to race to build manufacturing in America, because with the policy volatility, you actually undermine the very goal you’re trying to achieve.”
“If, ultimately, costs are passed to us from those that we buy handsets from, unfortunately, for the customer, we’re going to have to come up with some new ways for them to figure out how to digest that increase in pricing.”
— John Stankey, the C.E.O. of AT&T, on Wednesday’s earnings call explaining that customers may have to pay more for phones.
“One of the important things that we need in our industry is we, first of all, I need clarity, and then I need consistency. Because, as I said, if you know a new vehicle, a brand-new vehicle, comes out every five or six years. To make those investments and to be good stewards of our owner’s capital, I need to understand what the policy is.”
— Mary Barra, C.E.O. of General Motors, speaking Wednesday at the Semafor event, when asked about whether she planned to invest more in U.S. manufacturing.
The web of Trump’s crypto ties
Even before winning re-election, President Trump had made clear that he would treat crypto very differently from former President Joe Biden, promising to unshackle the industry from tight regulation.
He has done so — and then some. The news that he is now offering a private dinner to the top 220 investors in his $TRUMP memecoin is the latest reminder that he won’t just champion the industry, but will also embrace it for personal profit.
“Have Dinner with President Trump and the $TRUMP Community!” read an invitation. “Let the President know how many $TRUMP coins YOU own!”
Content Source: www.nytimes.com