Wake up with Breakfast News!

Wake up to the latest market news, company insights, and a bit of Foolish fun—all wrapped up in one quick, easy-to-read email, called Breakfast News. Delivered at 7:30 AM ET every single market day. See an example of our weekday Breakfast News email & sign-up below.

S&P futures contracts dropped by 0.6% due to news of blanket tariffs of 15%-20% being considered by President Donald Trump on most trading partners, a significant jump from the current global baseline minimum rate of 10%.

• “All of the remaining countries are going to pay, whether it’s 20% or 15%.” Trump stated that he felt tariffs have been very well received, using the stock market hitting fresh record highs as evidence of this.
• “Fentanyl is hardly the only challenge we have with Canada…which causes unsustainable trade deficits.” In a letter written to Canadian Prime Minister Mark Carney, Trump threatened a 35% levy, higher than the current 25%, although the majority of Canadian exports are exempt under the U.S.-Mexico-Canada Agreement (USMCA).

Tesla (NASDAQ:TSLA) has applied to test and deploy its Robotaxi in Phoenix, Arizona, following in the footsteps of Waymo and highlighting the next step in expansion after launching in Austin, Texas, last month.

• Application decision expected at the end of July: The move would allow Tesla to tap into an area already comfortable with driverless cars, with Waymo offering the service from 2020 and now having a fleet of 400 robotaxis there.
• Green light for Mumbai showroom opening: Tesla will open its first site in India next week, opening access to the world’s third-largest car market, with $1 million worth of cars and merchandise imported for the launch.

The FT reports that Alphabet (NASDAQ:GOOG) will heavily discount cloud computing services for the U.S. government in a continued push by the administration to reduce prices on contracts with the tech giant.

• “Every single one of those companies is totally bought in, they understand the mission”: A senior official from the General Services Administration who is negotiating the contracts said Google’s cloud contract is likely to land in a similar spot to the 75% discount agreed upon with Oracle (NYSE:ORCL) last week.
• U.S. government cloud service spend exceeds $20 billion annually: Alphabet will be keen to avoid losing contracts, given the size involved and desire not to cede ground to the two other main contractors, Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN).

Global pharmaceutical stocks, including Eli Lilly (NYSE:LLY) and Johnson & Johnson (NYSE:JNJ), are readying for the announcement of industry-wide tariffs, which President Donald Trump said is due “very soon,” with concerns it could materially impact profit margins.

• Section 232 pharma probe results soon: Although an expected grace period of 12-18 months is expected before any levies go into effect, the proposed rate could be as high as 200%.
• “A 200% tariff would inflate production costs, compress profit margins, and risk supply chain disruptions.” Analysts from Barclays (NYSE:BCS) cite an end impact of drug shortages and higher prices for U.S. consumers if the levies are not managed carefully.

Of the following wildly popular companies among Fools, which one -- and you can only pick one -- would you consider selling if the CEO were to step down and why: Amazon (NASDAQ:AMZN), CrowdStrike (NASDAQ:CRWD), or Shopify (NASDAQ:SHOP)? Debate with friends and family, or become a member to hear what your fellow Fools are saying.