5 things to know before the stock market opens on Friday

The White House announced yesterday that it would impose new tariffs ranging from 10% to 12.5% ​​on more than a dozen countries over alleged forced labor violations. The U.S. Trade Representative said the tariffs, which began overnight, apply to 60 trading partners and account for more than 99% of all U.S. trade.

As CNBC’s Kevin Breuninger and Ashley Trujillo report, the new tariffs serve as a replacement for the temporary 10% tariffs President Trump imposed after the Supreme Court struck down most of the “Emancipation Day” tariffs in February.

Australia, Brazil, Chile and New Zealand all rejected the Trump administration’s justification for new tariffs, while Canada expressed more cautious concerns. Despite opposition, major trading partners have not announced retaliation, as most have indicated they will continue negotiations with the US government.

shares of intel Shares rose 3% this morning after the company beat expectations for record second-quarter earnings and bottom line. Thanks to the artificial intelligence boom, Intel’s quarterly revenue growth is also the highest in nearly 15 years.

CEO Lip-Bu Tan said in a statement that the company is experiencing “unprecedented demand” in its computing business. As CNBC’s Kiff Lesswing points out, Intel doubled Wall Street’s expectations for its latest quarter’s earnings per share.

oracleThe company’s stock price is also rising before the bell after the software company signed a 10-year contract worth up to $7 billion with the Department of Defense.

future of honda motor industryThe Ridgeline pickup truck has been the talk of the town, and the automaker confirmed yesterday that the next-generation model will be produced in the United States.

The Japanese automaker announced that assembly of mid-size models will return to the Alabama plant where the vehicles are made within two years, after production at the facility was temporarily halted this year. The possible suspension was tied to the Ridgeline’s failure to meet California emissions regulations, according to reports.

“Our goal is to continue to serve our loyal Ridgeline customers,” American Honda Motor’s Lance Wolfer told CNBC’s Michael Weiland. “But one of the things we want to drive in the future is to make our vehicles more robust and even more capable.”

Secretary of Health and Human Services Robert F. Kennedy Jr. has promised to shake up the U.S. food industry and restore trust in the Centers for Disease Control and Prevention. His promise is being put to the test by the cyclosporosis epidemic.

As CNBC’s Angelica Peebles reports, experts have long warned that the United States is ill-prepared to respond to foodborne illness outbreaks. Some believe that federal funding cuts under the Trump administration have put the United States in an even worse position.

President Kennedy said earlier this week that the outbreak was “under control” and argued that arguments that agency cuts would impede investigations were “invalid.”

Here are some articles to bookmark this weekend.

— CNBC’s Davis Giangiulio, Spencer Kimball, Chloe Taylor, Li Ying Xiang, Anique Bao, Sean Conlon, Arjun Karpal, Kevin Breuninger, Ashley Trujillo, Garrett Downs, Ashley Caputo, Kif Leswing, Jordan Nove, Michael Weiland and Angelica Peebles contributed to this report.

Luke Fountain helped produce this newsletter. Josephine Rozzelle edited this version.