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Morning Brew Daily

Trump’s Universal Tariffs Begin & Apple Reports Best Revenue Since 2021

Morning Brew Daily

Morning Brew

News, Business, Business News

4.42.8K Ratings

🗓️ 1 August 2025

⏱️ 29 minutes

🧾️ Download transcript

Summary

Episode 639: Neal and Toby cover Trump’s tariff deadline that ends today that may impose new ‘baseline’ tariffs with America’s biggest trading partners. Then, Apple reports earnings that beat expectations. Also, a law banning lawmakers from investing in individual stocks is picking up steam in Congress. Plus, Figma’s eye-popping IPO makes it the Stock of the Week. And Musk’s Boring Company is failing to meet expectations, making it the Dog of the Week.  Build your Range Rover Sport at RangeRover.com/US/Sport  Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. Listen to Morning Brew Daily Here:⁠ ⁠⁠https://www.swap.fm/l/mbd-note⁠⁠⁠  Watch Morning Brew Daily Here:⁠ ⁠⁠https://www.youtube.com/@MorningBrewDailyShow⁠

Transcript

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0:00.0

Good morning Brew Daily Show. I'm Neil Fryman.

0:07.0

And I'm Toby Howell.

0:08.0

Today, President Trump announced higher tariff rates on 92 countries as the trade deadline struck midnight.

0:14.0

Then U.S. lawmakers are considering banning themselves from trading stocks.

0:19.0

It's Friday, August 1st. Let's ride. Limber up, boys and girls,

0:27.3

the presidential fitness test is coming back. Flanked by pro athletes at the White House,

0:32.4

President Trump signed an order that reinstates a standardized fitness test for school kids,

0:37.3

calling it an important

0:38.1

step in our mission to make America healthy again. The fitness challenge had been a requirement

0:42.6

in public school since the late 1950s until it was scrapped by Obama in 2013 to focus less

0:48.4

on competition and more on healthier lifestyles. We don't know yet what specific exercises will be

0:53.7

included, but the most

0:54.8

recent version required a mile run, a shuttle run, sit and reach, and some combo of pushups,

1:00.3

pull-ups, and sit-ups. Toby, knowing you, you might go back to elementary school just so you can

1:04.9

beat your classmates in the fitness test. It was a big deal for me, Neil. It was a big deal.

1:09.6

But the history behind this test is fascinating. Back in the 1950s, these two rock climbing fitness gurus administered a fitness test they designed to 4,000 U.S. kids and 3,000 kids across Europe.

1:21.6

58% of U.S. kids failed while just 8% of Europeans did. So they brought those results to Eisenhower who kind of freaked out, which led to the institution

1:29.8

of the presidential fitness test.

1:31.7

It was different from what the test eventually became because it was heavily influenced by

1:36.1

military training.

1:37.5

It had pull-ups and softball throws, which is great for hoisting yourself out of a foxhole

1:42.5

or throwing a grenade, but not so great for

...

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