U.S.-UK Framework:

If 10% is the tariff rate for one of America’s closest allies, it’s fair to assume others will face higher levels.

U.S.-China Trade Détente in Switzerland:

Within 48 hours, Trump shifted from “no change” to suggesting 80% tariffs. De-escalation is nice in theory, but 80% is still catastrophically high.

Google Search Decline in Apple’s Ecosystem:

We finally have hard data showing a drop in traditional search, thanks to rising AI-query usage. That’s very-bad, not-good for GOOG, but a strong validation of hyperscaler AI investment. We’re moving away from “googling” toward a new verb: “[Insert your AI client]”-ing.