Is Elon's Empire Crumbling?

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after October 23rd, it may be too late.

Business Lookahead

AP Business Digest

Here are the AP's top business stories that have moved or are planned to move today. All times U.S. Eastern. For up-to-the minute information on AP's coverage, visit AP Newsroom's Coverage Plan.

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UPCOMING

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US TRUMP TARIFFS

FORMATS: Photo, Text, Video, LiveVideo

o WITH: US TRUMP TARIFFS-THE LATEST

o DESCRIPTION: Latest developments on date on which U.S. President Donald says tariffs will be implemented on goods being imported into the U.S. from around the world, after he pushed back the August 1 deadline.

o UPCOMING: By 08/07/2025 12:01 a.m. EDT

o WITH: INDIA-US TRUMP TARIFFS

o DESCRIPTION: Timeline of US-India trade relations

o UPCOMING: By 08/07/2025 12:01 a.m. EDT

o WITH: US TARIFFS-ASIA

o DESCRIPTION: President Donald Trump's new tariff rates on U.S. imports from dozens of countries are due to take effect Thursday. The import duties are the latest chapter in the saga of Trump's effort to reshape global trade, but many questions remain. Trump has threatened tariffs of up to 200% on imports of pharmaceuticals. He says he might slap higher tariffs on computer chips and the materials used to make them. There's still no agreement on what tariffs might apply to products shipped from China. Recent factory data shows the uncertainty is clouding the outlook for exporters as a rush to beat the tariffs tapers off.

o UPCOMING: By 08/07/2025 12:01 a.m. EDT

o WITH: US TRUMP TARIFFS

o DESCRIPTION: President Donald Trump officially began levying higher import taxes on Thursday, just as the economic fallout of his months-long tariff threats were creating visible damage for the U.S. economy. More than 60 countries and the European Union face tariff rates of 15% or higher, with those that agreed to frameworks betting that they had minimized any damage to their own economies. But the tariffs are starting to exert significant costs in America as hiring has become sluggish and companies show signs of passing along the taxes to their consumers by raising prices. To be updated with global reaction.

o UPCOMING: By 08/07/2025 12:01 a.m. EDT

o WITH: TRUMP-TARIFFS-CONSUMER-IMPACT

o DESCRIPTION: American businesses and consumers are finding the contours of President Donald Trump's foreign trade agenda taking shape. But they don't have much more clarity on how import taxes on goods from dozens of countries will affect them. Late Thursday, Trump ordered new tariff rates for 66 countries, the European Union, Taiwan and the Falkland Islands. Trump postponed the start date for all of the tariffs from Friday until Aug. 7. Companies are dealing with tariffs in various ways, from absorbing the tax costs themselves to raising prices. Economist say U.S. consumers are likely to foot at least part of the bill.

o UPCOMING: By 08/07/2025 12:01 a.m. EDT

o WITH: US TRUMP TARIFFS

o DESCRIPTION: President Donald Trump officially begins levying higher import taxes on dozens of countries, just as the economic fallout of his monthslong tariff threats has begun to create visible damage for the U.S. economy.

o UPCOMING: By 08/07/2025 12:01 a.m. EDT

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JAPAN-EARNS-TOYOTA

DESCRIPTION: Japan's top automaker Toyota reports earnings expected to reflect damage from President Donald Trump's tariff policies.

UPCOMING: By 08/07/2025 4:00 a.m. EDT, Photo, Text

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JAPAN-EARNS-SONY

DESCRIPTION: Japanese electronics and entertainment company Sony reports earnings amid concerns about President Donald Trump's tariff policies.

UPCOMING: By 08/07/2025 4:30 a.m. EDT, Photo, Text

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UNEMPLOYMENT BENEFITS

DESCRIPTION: The Labor Department reports on the number of people who applied for unemployment benefits last week. By Matt Ott. UPCOMING: 130 words after release of report at 8:30 a.m., photo.

UPCOMING: By 08/07/2025 8:30 a.m. EDT, Photo, Text

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MORTGAGE RATES

DESCRIPTION: Freddie Mac reports on this week's average U.S. mortgage rates. By Alex Veiga. UPCOMING: 250 words after noon release.

UPCOMING: By 08/07/2025 12:00 p.m. EDT, Photo, Text

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