Waffles for the WinWorkarounds are the thing to avoid onerous tariffsInvestors starting to think that bark is worse than the bitePLUS we are now on Spotify and Amazon Music/Podcasts!Click HERE for Show Notes and LinksDHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar.Love the Show? Then how about a Donation?Follow John C. Dvorak on TwitterFollow Andrew Horowitz on Twitter Warm-Up- Waffles for the Win- Workarounds are the thing- Learning about the First Sale RuleMarkets- 42 Days? And counting- Investors starting to think that bark is worse than the bite- US Steel Deal - WOW!- Fresh steam for speculation - lots of movementWaffling- What are your favorite way to eat waffles?- Friday - 50% on Europe - Blah Blah- 25% on Apple and every smartphone maker that brings in product to USA- Sunday - Delay the Europe tariffs until July 9th- Not sure where we are onResults- Markets swoon on the initial Europe Tariff announcement- Markets (Overnight Futures) Popped higher on the Waffle- Apple will look to eat and see a cut to margins ----- Surely Apple will promise to build plants in the US and slow role it to get some relief--- Apple recently announced a 250,000-square-foot advanced manufacturing facility in Houston that is expected to begin operations in 2026, indicating a timeline of roughly 1.5 to 2 years from announcement to production start (managed by Foxconn - manufacturing AI Driver ServersChina - Not bad- China’s industrial profits rose for a second straight month in April, with their growth improving despite U.S. tariffs and persistent deflationary pressures, thanks to Beijing’s measures aimed at supporting businesses.- Cumulative profits at major industrial firms climbed 3% last month compared to a year earlier, official data showed Tuesday, accelerating from a 2.6% growth in March.- In the first four months this year, industrial profits rose 1.4%, year on year, according to the National Bureau of Statistics, bolstered by stronger earnings in the equipment and high-tech manufacturing sectors.Facts though first:- Foxconn’s Zhengzhou campus in China, often called “iPhone City,” spans over 1.4 million square meters (15 million square feet) and employs hundreds of thousands of workers. Approx 80% of Apple's annual iPhone production)-- To replicate this in the U.S., Apple would likely need multiple facilities totaling 10–15 million square feet or more, depending on automation levels and vertical integration.First Sale Rule- Love this!-- The first sale rule has been around since 1988--- This is why markets/stocks/companies will always win- The “first sale rule” is a concept in U.S. customs law that allows importers to use the lowest cost of a good to calculate duties.- Under U.S. customs law, the first sale rule allows importers to base customs duties on the price of the initial transaction in a multi-tiered supply chain. Example scenario: A Chinese manufacturer sells a t-shirt to a Hong Kong vendor for $5. The Hong Kong vendor resells it to a U.S. retailer for $10. The U.S. retailer sells it to consumers for $40.- Using the first sale rule, the U.S. retailer can declare the $5 price for customs purposes, rather than the $10 resale price.- This approach reduces the duty owed by excluding the middleman’s markup.Asked AI to make easier to understand in an infographic AI Info-graphicBoeing Update- The U.S. Justice Department said Friday that it has reached a deal with Boeing- That will allow the aircraft maker to avoid prosecution over two crashes of its 737 Max planes that killed 346 people.- The non-prosecution agreement would allow Boeing, a major military contractor and top U.S. exporter, to avoid being labeled a felon.- The decision means Boeing won’t face trial as scheduled next month,