Tariffs, Chips, and Cosmic Distractions: The Week Global Trade Got Personal

28th July, 2025

Trump’s tariff machine is back in high gear — a 15% EU deal has landed, China’s truce may be next, and over 200 countries are reportedly on notice. In Brussels, that looming August 1 deadline feels like a clock to "Liberation Day 2.0" — or a market meltdown. Meanwhile, Samsung scored $16.5B from Tesla in a mega-chip alliance that could shift the AI race, and the U.K. just flipped the switch on one of the world’s strictest child online safety laws, forcing age checks across porn sites and social platforms. Hollywood and Wall Street had their own twists: Marvel cracked $100M, Gwyneth Paltrow called in an astronomer, and Palantir quietly muscled into the S&P 20. All this and more in today’s Read And Eat It!

Major Headlines

• Trump Strikes 15% EU Tariff Deal, China Truce Extension Looms in Sweeping Global Trade Push

  
  

• Donald Trump and European Commission President Ursula von der Leyen have reached a major trade agreement setting a 15% tariff floor on European goods—a move both sides say marks a reset in U.S.-EU economic relations. Speaking from Scotland, Trump hailed it as “the biggest of them all,” while von der Leyen called it “the best we could get,” after years of retaliatory tariff skirmishes. The announcement coincides with reports that the U.S. is preparing to extend its fragile tariff truce with China by three more months, with formal negotiations to resume soon in Stockholm. Trump added that letters will go out to 200+ countries dictating new tariff rules, signaling an aggressive global overhaul of American trade policy. Yahoo Finance 

  
  

• Liberation Day 2.0 Is 9 Days Away. Is a "Trump Dump" Imminent for Stocks?

  
  

• With Trump threatening a sweeping 30% tariff on EU imports, Brussels is scrambling to finalize the U.S.-EU trade pact before the August 1 deadline. EU diplomats confirm the U.S. proposed a 15% flat tariff, raising optimism for a deal. However, failure to reach an agreement would trigger €93B in automatic countermeasures targeting American goods including whiskey, jeans, and aircraft. France has warned of “mortal danger” to its industrial base, while the ECB holds rates steady amid rising uncertainty. BBC

  
  

• Samsung Lands $16.5 Billion Chip Deal With Tesla, Boosting Foundry Unit Amid AI Race

  
  

• Samsung Electronics has secured a massive $16.5 billion semiconductor supply deal with Tesla, giving its struggling chip foundry business a major boost as the AI arms race accelerates. The 10-year agreement, quietly announced over the weekend and later confirmed by insiders, makes Samsung the primary supplier of custom logic chips for Tesla’s next-generation vehicle and AI systems. The move comes as Samsung fights to regain ground lost to Taiwan’s TSMC, which dominates advanced chip manufacturing. For Tesla, the partnership signals an effort to vertically integrate more of its AI and autonomy stack ahead of its much-hyped Robotaxi launch. Reuters

  
  

• UK Enforces Porn Site Age Checks Under New Child Safety Law — Reddit, X Begin Verifications

  
  

• The U.K.’s controversial Online Safety Act took effect Friday, mandating age verification for adult content platforms and tightening protections for minors online. Around 6,000 pornographic sites are complying via ID checks and selfies. Broader platforms like Reddit, Bluesky, Grindr, and X have also rolled out verification tools. Critics warn the system could erode digital privacy, while others see it as a potential global blueprint for child protection online.  TechCrunch

  
  

Minor Headlines

• Fantastic Four breaks $100 million at box office, and a Marvel curse NBC

  
  

• Nvidia AI chips worth $1B smuggled to China despite Trump export bans —  Financial Times 

  
  

• Dating safety app Tea breached, 72,000 user images exposed — TechCrunch

  
  

• Intel to spin off Network and Edge division — TechCrunch

  
  

• Palantir joins top 20 most valuable U.S. companies as stock doubles — CNBC

  
  

• Citigroup unveils Strata Elite credit card with $595 annual fee —   Wall Street Journal 

  
  

• Investors weigh market impact of possible early Powell exit — Reuters 

  
  

• Astronomer hired by Gwyneth Paltrow to pivot press from Coldplay scandal — CBS

  
  
  
  
  
  

  Gen Z Word of the Day: Hard launch

  
  

  Meaning: Publicly revealing a new relationship or change on social media.

  
  

  Example: “She hard-launched her boyfriend with that Paris trip photo dump.”