Apple Faces 25% Tariff, Volvo Cuts Jobs, Zoox Recalls Again

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Dear Money Master,

Today’s newsletter is packed with global business shifts and bold political moves 🌍. Volvo is cutting 3,000 jobs as it braces for economic headwinds 🚗, while European markets rebound thanks to Trump delaying steep tariffs on EU goods. China’s BYD intensifies the EV price war ⚡, and France lands a major win with a 20-plane Airbus deal in Vietnam ✈️. Meanwhile, Trump clears the Nippon–U.S. Steel merger and doubles down on domestic manufacturing—threatening a 25% tariff on iPhones made outside the U.S. 📱. Plus: cybersecurity giant Palo Alto Networks posts strong results, and Ross Stores navigates tariff turbulence without a full-year outlook.

Read of the Day: What is the FEAR index (aka VIX), and why do investors watch it so closely? We break down what it really tells you—and what it doesn’t.

📰 Your Daily Financial Digest - May 26th, 2025

🌍 Economics & Finance:

1. France Signs Airbus Deal with Vietnam ✈️
   During President Macron’s visit to Hanoi, France secured a deal for 20 Airbus jets and expanded defense and tech partnerships with Vietnam. The move aims to strengthen EU ties as Vietnam balances U.S. tariff threats with existing European trade commitments. Read more

2. Trump Approves Nippon Steel–U.S. Steel Merger 🏭
   Trump greenlit Nippon Steel’s $14.9B acquisition of U.S. Steel, reversing Biden’s earlier block over national security.The deal promises 70,000 jobs and $14B in investment, with U.S. Steel HQ remaining in Pittsburgh. Shares soared 20% on the news. Read more

3. European Stocks Rebound as Trump Delays Tariffs 📈
   European markets bounced back after Trump delayed a proposed 50% tariff on EU goods. Auto stocks, especially German carmakers like BMW and Volkswagen, led the recovery. Trump’s shift came after talks with EU leaders and hints at renewed negotiations. Read more

4. Volvo to Cut 3,000 Jobs Amid Rising Costs 🚗
   Volvo Cars is laying off 3,000 employees—15% of its office workforce—in a sweeping cost-cutting push. The company also scrapped its 2025–26 financial guidance, citing tariff risks and global uncertainty. Despite this, Volvo says it's committed to becoming an all-electric carmaker. Read more

💻 Technology:

1. BYD Shares Tumble 8% After EV Price Cuts 🔌
   China’s EV giant BYD slashed prices on 22 models, triggering an 8% stock drop amid investor fears of a price war. Foot traffic at dealerships reportedly surged, but competitors like Geely and Xpeng also saw their shares fall on concerns about tighter margins. Read more

2. Trump Threatens 25% Tariff on iPhones Made Abroad 📱
   Trump said iPhones sold in the U.S. must be made domestically or face a 25%+ tariff starting in June. Apple currently builds most iPhones in China but has expanded production in India. Analysts estimate U.S.-made iPhones could cost over $3,000. The move is part of broader efforts to push high-tech manufacturing back to the U.S. Read more

3. Amazon’s Zoox Issues Another Robotaxi Recall 🤖
   Zoox, Amazon’s self-driving unit, issued its second voluntary software recall this month after a robotaxi collided with an e-scooter in San Francisco. Though the incident caused only minor injuries, the software update affects 270 vehicles. A similar recall was announced two weeks earlier after a crash in Las Vegas. As rivals like Waymo and Tesla ramp up robotaxi operations, Zoox remains in testing mode with safety concerns under close watch. Read more

💹Earnings:

1. Ross Stores Faces Tariff Headwinds Despite Strong Q1 🛍️
   Ross Stores beat Q1 earnings expectations but withdrew annual guidance due to tariff risks. Analysts cut price targets as over 50% of inventory comes from China, pressuring margins. Despite this, Ross remains financially strong with solid customer demand. Read more

2. Palo Alto Networks Beats Expectations with 15% Revenue Growth 🛡️
   Palo Alto Networks posted $2.29B in Q3 revenue, up 15% YoY, driven by next-gen security services. Adjusted earnings also topped estimates, but shares fell 4% after-hours. The company expects steady growth into Q4, slightly above market forecasts. Read more

🔎 Deep Dive: The Fear Index – The VIX 😨

What does “market fear” actually look like? Meet the VIX, Wall Street’s so-called Fear Index. Created in the ‘90s, the VIX tracks expected stock market volatility based on S&P 500 options. When it spikes, investors brace for turbulence ⚠️.

In today’s deep dive, we explain the VIX’s origin, what it measures, how it works, and why it’s often misunderstood. You’ll learn how traders and analysts use it to gauge risk—and why it matters, especially during times of uncertainty 📉.

It’s one of the most important metrics in finance. You can read the full article in the Money Masters App.

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