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The Brazilian government will initiate procedures under the reciprocity law and submit the matter to the WTO dispute settlement mechanism.
July 24 – The Office of the United States Trade Representative issued a notice on July 23 announcing that, pursuant to Section 301 of the Trade Act of 1974, it will impose tariffs of 10% to 12.5% on dozens of countries and regions under the pretext of so-called “forced labor,” in order to replace the expiring global import tariffs. The new tariffs will take effect on July 24, Eastern Time.
U.S. Treasury: Despite the narrowing interest rate differential between the U.S. and Japan, the yen's weakness continues, and excessive volatility in the yen is undesirable.
A senior U.S. official said that goods that comply with the UMC agreement will be exempted because North American supply chains are highly integrated and these goods contain a high proportion of U.S. ingredients.
A senior U.S. official said tariffs on some countries, including India, will be reduced from 12.5% to 10%.
A senior U.S. official said the Section 301 investigation into overcapacity is still ongoing, but requires a great deal of research and analysis.
A senior U.S. official said: These tariff measures are not simply a copy of the tariffs under the International Emergency Economic Powers Act, which were overturned by the U.S. Supreme Court.
A senior U.S. official stated that the tariffs will target 60 economies, which account for approximately 99% of U.S. trade. The new tariffs will take effect at 00:01 ET on July 24 (12:01 pm Beijing time on July 24).
A senior U.S. official stated that the U.S. has imposed tariffs of 10%-12.5% on several countries. The U.S. has exempted products such as oil, natural gas, fertilizers, and food from tariffs.
According to the Wall Street Journal, sources say Stripe is in talks to acquire OpenRouter, an artificial intelligence model aggregation platform.
Foreign central banks held $24.814 billion in U.S. Treasury securities in the week ending July 17, compared with $639 million in the previous week.
On July 24th, Intel (INTC.O) released a surprisingly strong revenue guidance, indicating that surging data center spending is helping the chipmaker achieve its long-awaited recovery. The company stated that it expects third-quarter sales to reach $15.8 billion to $16.8 billion. Even the lower end of that range easily exceeds the average analyst estimate of $15.1 billion. This guidance highlights Intel's growth momentum among data center customers who are in dire need of chips to meet the demands of artificial intelligence computing. Last quarter, sales in this area surged 59%, more than double the growth rate of Intel's overall revenue. Following the earnings release, Intel's stock price rose 13% in late trading. Furthermore, Intel's second-quarter revenue reached $16.13 billion, also exceeding market expectations of $14.43 billion.
Intel (INTC.O): Gross margin for Q2 2026 was 40.4%.
SpaceX (SPCX.O): Due to weather conditions, the 13th Starship test flight is now scheduled for Friday, July 24th local time.
Intel (INTC.O) shares rose more than 9% in after-hours trading after the company’s third-quarter revenue outlook beat expectations.
Intel (INTC.O) CFO: Intel has signed long-term agreements with customers to supply CPUs and XPUS processors.
Intel (INTC.O) CFO: Intel plans to increase its capital expenditures in 2026 from $18 billion to $20 billion.
Intel (INTC.O) CFO: Intel plans to significantly increase capital expenditures in 2027.
Intel (INTC.O) forecasts third-quarter revenue of $15.8 billion to $16.8 billion, higher than IBES's estimate of $15.1 billion.
Market news: The value of Alphabet's (GOOG.O) stake in Anthropic has surged to approximately $124 billion.
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