Wall Street Breakfast Podcast: Trump Signs New Tariff Order

Tariff Changes - President Trump signed an executive order revising "reciprocal" tariffs on numerous countries, establishing new duty rates ranging from 10% to 41% [2][3] - Syria faces the highest tariff at 41%, while Switzerland and South Africa will see rates of 39% and 30%, respectively; Taiwan's tariff is reduced to 20% from 32% [3] - Canadian imports will see an increase in tariffs from 25% to 35%, effective August 1, 2025 [3] Reddit's Performance - Reddit reported a strong second-quarter performance, with shares rising 15% in premarket trading [6] - The company expects third-quarter revenue between $535 million and $545 million, and adjusted EBITDA between $185 million and $195 million, exceeding Bloomberg's consensus estimates [7] - Daily active unique users increased by 21% year-over-year to 110.4 million, and net income for Q2 was $89 million, compared to a loss of $10 million a year ago [7][8] Palantir's Major Deal - Palantir Technologies secured a significant enterprise deal with the U.S. Army worth up to $10 billion over the next decade, consolidating 75 contracts into a single agreement [8][9] - The deal aims to enhance military readiness, drive operational efficiency, and provide cost efficiencies, with volume-based discounts established for the contract's performance period [9] - This contract is noted as one of the largest awarded by the Department of Defense and the largest ever for Palantir [9]