Breakfast News: China Hits Back (Again)
Import tariffs raised by China, Alphabet targets agency contracts, Stellantis sees shipment drop, and more...
Source: Image created by Jester AI.
China this morning confirmed it is raising U.S. import tariffs from 84% to 125%, taking effect tomorrow, saying further countermeasures will be applied if the U.S. continues its "unilateral bullying." This comes after the Trump administration yesterday clarified China faces a 145% tariff rate, not 125%, causing U.S. markets to fall.
Alphabet (NASDAQ: GOOG) signed a deal with the U.S. General Services Administration to cut the prices of its business software by 71% for federal agencies, in a move to take advantage of the more price-conscious public sector. The hope is that some business can be done to win away market share from Microsoft (NASDAQ: MSFT), which currently is the government's favored enterprise software provider.
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