Trump tariffs live updates: China urges firms to shun Nvidia chips, trade truce extended

🏛️ Stock futures rise slightly ahead of July inflation report. Live updates:

Stock futures fell early Tuesday, as investors prepare for a fresh inflation report.

Futures tied to the Dow Jones Industrial Average added 61 points, or 0.1%. Nasdaq 100 and S&P 500 futures traded just above the flatline.

Investors are focused on the July consumer price index report, hoping to gather potential insight into how the Federal Reserve will handle short-term interest rates, especially as the S&P 500 hovers near an all-time high. CNBC reports.


📊 July CPI report expected to show inflation accelerated amid tariff pressures:

July's Consumer Price Index (CPI) is expected to show prices rose at a faster clip annually compared to June. The report, due Tuesday at 8:30 a.m. ET, comes as investors stay alert to how much President Trump’s tariffs are starting to affect consumer costs.

According to Bloomberg data, headline CPI is expected to have increased 2.8% year over year in July, up from a 2.7% rise in June.

On a monthly basis, prices are forecast to increase 0.2%, a slight slowdown from June’s 0.3% gain, driven by lower gasoline prices and expectations of moderately softer food inflation.

On a "core" basis, which strips out volatile food and energy prices, the annual inflation rate for July is expected to tick up to 3.0% from June’s 2.9%, indicating that rising goods inflation is no longer being offset by easing services inflation. Yahoo Finance reports.


🚗 Ford announces $2 billion investment in Louisville assembly plant aimed at cheap EVs:

Ford on Monday announced it would invest $2 billion in a Louisville, Kentucky, assembly plant aimed at rolling out more affordable electric vehicles.

The investment comes on top of $3 billion already planned for a battery park in Michigan. Together the facilities will create or secure nearly 4,000 new jobs, Ford said in a news release.

“We took a radical approach to a very hard challenge: Create affordable vehicles that delight customers in every way that matters - design, innovation, flexibility, space, driving pleasure, and cost of ownership - and do it with American workers,” Ford CEO Jim Farley said in the release. CNBC reports.


💵 Trump signs order granting another 90-day extension on harshest China tariffs:

President Trump on Monday signed an executive order implementing another 90-day pause on additional tariffs on China that were set to take effect on Tuesday.

The move again pushes off a deadline for imposing the harshest taxes on Chinese imports as the two sides continue negotiations on a deal.

Trump posted on social media that he had signed the order around 8 p.m. ET. Around the same time, China also announced the extension of the tariff pause via official news agency Xinhua. Yahoo Finance reports.


☎️ JPM's Peters sees equities 7%-8% higher over next 12 months:

Grace Peters, global investment strategy co-head at JPMorgan Private Bank, says the pain trade "broadly lies to the upside" and explains the differentiation she sees between the US economy and equity market. MarketScreener reports.


👩‍⚖️ Musk’s xAI plans legal action against Apple over App Store practices:

Elon Musk has announced that his AI venture, xAI, intends to pursue legal action against Apple, alleging that the tech giant is violating antitrust laws through its management of App Store rankings.

In a post on his social media platform X, Musk said: "Apple is behaving in a manner that makes it impossible for any AI company besides OpenAI to reach #1 in the App Store, which is an unequivocal antitrust violation. xAI will take immediate legal action."

Musk did not provide any supporting evidence for his allegations, according to Reuters, and as of 12 August 2025, Apple, OpenAI, and xAI have not responded to requests for comments from Reuters. Yahoo Finance reports.

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