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ECONOMY

Refund Duties

U.S. businesses can now ask for their tariff money back.

On Monday, the Trump administration began accepting refund requests for the $166B collected from Trump’s “Liberation Day” tariffs after the Supreme Court struck them down and a federal trade court ordered refunds. A new government claims system (called CAPE) is handling the filings, allowing ~330,000 importing businesses to recoup their payments on foreign imports—plus interest accrued. 

While the White House could still appeal the refund order, the government says they’ll give businesses their greenbacks back within 60-90 days. 

Because only official tariff-paying entities are invited to the refund party, individual consumers won’t benefit unless businesses opt to pass the savings along. FedEx has committed to returning refunds directly to consumers, and Costco has signaled it will do so via lower prices.

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Verse to consider whether you’re waiting on a refund, an unanswered prayer, or that big email… “I wait for the Lord; I wait and put my hope in his word. I wait for the Lord more than watchmen for the morning—more than watchmen for the morning.” 
Psalm 130:5-6 (CSB) (read full passage)

TECHNOLOGY

Core Reboot

Apple has a new head chef.

The tech company announced Monday that CEO Tim Cook will step down on September 1 after 15 years—passing the whisk baton to SVP of hardware engineering John Ternus, the man behind the iPad, AirPods, and a decade of iPhone, Mac, and Apple Watch glow-ups.

Cook, 65, isn’t going dark mode; he’ll slide into the Executive Chairman seat, while longtime chip boss Johny Srouji fills Ternus’s old shoes as Chief Hardware Officer.

Cook is a tough act to follow: Apple’s stock climbed ~20x during his run, and the Cupertino giant’s market cap grew from $350B to over $4T—making it the world’s second-most valuable company.

Ternus also inherits Apple’s biggest headache: the company has fallen behind in the AI race, fumbling on promised Apple Intelligence features.

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CHRISTIAN PERSPECTIVE
Consumers and companies alike can use technology to hoard power and wealth or bless others. Whatever technology you’re using, remember to use every resource at your disposal to honor God and love others.

“A generous person will be enriched, and the one who gives a drink of water will receive water. People will curse anyone who hoards grain, but a blessing will come to the one who sells it.” 
Proverbs 11:25-26 (CSB) (read full passage)

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WORLD NEWS

Ceasefire 2.0

At the eleventh hour, President Trump announced he’s giving the U.S.-Iran ceasefire an extension.  

Trump said the renewal—something he initially didn’t “want to do”—was due to Iran’s government being “seriously fractured.” He also said the truce would hold until Iran’s leaders submit a “unified proposal” to end its war with the U.S. and Israel. 

Uncle Sam was scheduled to attend a second round of peace talks with Iran in Pakistan yesterday, but negotiations were put “on hold” when Tehran failed to RSVP, citing “contradictory messages, inconsistent behavior, and unacceptable actions by the American side.” 

Meanwhile, the conflicting countries have accused one another of violating their initial ceasefire. Trump claims Iran has breached the temporary truce “numerous times,” while Tehran says the U.S.’s Strait of Hormuz blockade is a “violation.”

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PRAY WITH US
King Jesus, from You alone comes perfect peace. As this conflict drags on, our helplessness grows. But You have not changed. Bring Your kingdom’s peace here, as it is in Heaven. Provide for the war-torn; heal those wounded and grieving. Free the power hungry from hatred, cruelty, and revenge. Empower leaders with wisdom to negotiate creatively. Embolden Your Church to go courageously into the mess, proclaiming the gospel of peace. 

And in future days, if hard-fought, carefully woven reconciliation unravels again, turn our eyes to Your unending reign of peace. Amen.

FBI Director Kash Patel filed a $250M lawsuit against the Atlantic on Monday over a report that his drinking posed a national security risk. The suit claims the Atlantic failed to respond to a pre-publication letter asking for time to refute the 19 allegations in Friday’s article (read here), which Patel called “lies.” The Atlantic, standing by its reporting, called the lawsuit “meritless.”
 

Labor Secretary Lori Chavez-DeRemer and Rep. Sheila Cherfilus-McCormick (D-FL) resigned this week amid ethics investigations. Chavez-DeRemer departed Monday—reportedly private-sector bound—following allegations of inappropriate staffer relationships, misuse of funds, and drinking on the job. Cherfilus-McCormick resigned Tuesday amidst a pending criminal case for allegedly funneling $5M in COVID relief funds into her 2022 campaign, which she called “a witch hunt.”
 

Warsh endured the hot seat. The Senate grilled President Trump’s Fed Chair pick, Kevin Warsh, Tuesday on his personal wealth, rate intentions, and thoughts on central bank independence. Warsh pledged to be an “independent actor,” saying he never promised the White House he would cut interest rates. His confirmation remains stuck behind a DOJ probe into current chairman Jerome Powell.
 

Details are emerging on Sunday’s Shreveport shooting. Police ID’d the 31-year-old gunman who killed his seven kids and another child before being killed by authorities. Prior to the domestic violence incident, the suspect and his estranged wife—who was critically wounded—were reportedly due in court Monday. Investigators are also looking into circumstances surrounding the gunman’s weapon.
 

The podium at this year’s Boston Marathon looked… like last year’s. Kenyans John Korir (02:01:52) and Sharon Lokedi (02:18:51) claimed repeat first-place finishes in the men’s and women’s races, with Korir setting a course record for the nation’s oldest marathon. Meanwhile, in Beijing, robots got a W when a humanoid broke the human half-marathon world record Sunday (see its cousin-Mose-like “run”).

(We’re also covering running and robots tomorrow in Decaf, The Pour Over for Families. Sign up—for free—here.)

WHIPPED CREAM ON TOP

Sculpting a face… with your thumbs.

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