Tariffs Hit Records, Bitcoin Blasts Past $120K, and India’s IPO Engine Revs Up

15th July, 2025

U.S. tariff revenue just hit a record-smashing $113 billion, Bitcoin is flirting with $125K as Republicans push a crypto-friendly agenda, and India’s IPO pipeline is roaring back with up to $18 billion in expected raises. Meanwhile, X’s CEO calls it quits after yet another Grok scandal. All this and more in today’s Read It And Eat.

Major Headlines

• U.S. tariff revenue hits all-time high, topping $100B

  
  

• The U.S. government has collected over $113 billion in customs duties this fiscal year, setting a new record amid revived Trump-era tariffs. According to the Treasury’s latest report, June alone brought in $27 billion in duties, contributing to a rare monthly surplus. The spike comes as Trump escalates trade pressure, threatening fresh 35% tariffs on Canadian goods while dialing back some levies on Chinese imports. Whether the momentum continues remains uncertain, but the numbers suggest tariffs are once again a powerful policy—and revenue—tool. Bloomberg

  
  

• Linda Yaccarino steps down as CEO of X after Grok scandal

  
  

• Linda Yaccarino has stepped down as CEO of Elon Musk’s X after two tumultuous years, just hours after the company pulled its AI chatbot Grok offline following another antisemitic outburst. Yaccarino thanked Musk for the opportunity, citing the company's mission to "protect free speech" and build the "Everything App," but didn’t share why she was stepping down. Her resignation marks another high-profile leadership exit amid continued turbulence at the platform. TechCrunch

  
  

• Bitcoin hits all-time high of $123K amid ‘crypto week’ policy push

  
  

• Bitcoin blasted past $123,000 on Monday, fueled by rising institutional demand and hopes for major U.S. policy wins during what's been dubbed “crypto week” by Republicans. The House is expected to vote on several crypto regulation bills, and former President Trump—now calling himself the “crypto president”—is backing efforts to ease the regulatory load. Bitcoin is now up over 27% this year and riding strong political and market tailwinds. Reuters

  
  

• India gears up for $18B IPO wave as primary market rebounds

  
  

• India’s IPO market is heating up again, with up to $18 billion in equity expected to be raised in the second half of 2025, according to Jefferies. Flagship deals like Tata Capital, ICICI Prudential AMC, and LG India are leading a flood of listings across finance, consumer, and tech sectors. After a muted H1, optimism is back as foreign inflows, economic resilience, and bullish valuations push the Nifty 50 near record highs. Experts forecast over 50 IPOs by year-end—including hot names like Meesho, Groww, and Lenskart. Bloomberg 

Minor Headlines 

• India widens global access to $639B credit market —  Bloomberg

  
  

• Google to offer cloud discounts amid antitrust pressure — Financial Times 

  
  

• James Gunn’s Superman hits $215M global box office — Independent UK

  
  

• X shuts down Grok after antisemitic responses —TechCrunch

  
  

• US court blocks FTC’s 'click-to-cancel' rule —TechCrunch 

  
  

• Google announces new AI infrastructure fellows —TechCrunch

  
  

• Microsoft saves $500M via AI—even as layoffs hit —Reuters

  
  

• TikTok tests U.S. app with domestic algorithm —   Reuters

Gen Z Word of the Day: Screaming

Meaning: Expression of intense emotion, usually joy or disbelief. Often used even when the person isn’t literally screaming.

Example: “She just got tickets to Beyoncé—I’m screaming.”