American Apples, It’s Not Just Florida & Peak Heat – Top 3 Takeaways, August 7th, 2025
Takeaway #1: If you raise it, they will come
Trivia time. What percentage of your typical Apple product is Made in the U.S.A.? By the time you consider the parts, components and assembly the answer is...about 5%. Two things have become clear with President Trump this week. Last Friday’s Liberation Day 2.0 - wasn’t the end of the rising tariff story, for countries without U.S. trade deals in hand it may have just been the beginning of what’s set to happen from here. Today is the day that last week’s tariff increases are set to take effect and even before the new rates have all taken effect President Trump hasn’t appeared to be a good mood for those who currently lack good standing. Already this week he’s said he intends to raise India’s tariffs rates higher than the previously announced 25% because they’re continuing to increase Russian energy purchases which he’s warned about repeatedly (and speaking of Russia that’s a whole other matter entirely as Trump’s announced deadline for Russia to end the Ukrainian war is Friday). This takes us back to Apple. While President Trump has been pressing CEO Tim Cook to ramp up American manufacturing since his first term (which did net results as Apple build a plant in Texas where it assembles the Mac Book Pro), apparently tariff rates in China and India speak louder than words. Earlier this year when the Chinese trade war was raging into high gear, Apple began rapidly moving it’s iPhone production from China to India. Yesterday, with India now potentially facing higher tariff rates than China, Apple’s American Manufacturing Program was born...again. As Cook joined Trump at the Oval Office on Wednesday, he pledged an additional $100 billion investment into American manufacturing, bringing the four-year total by Apple to $600 billion. Now notably, President Trump has exempted smartphones and many consumer tech products from reciprocal tariffs up to this point – so it could just be the threat of that exemption potentially being taken away, that’s doing the trick, or it could be that Tim Cook is finally becoming serious about Apple returning to its roots. By the time Apple’s $600 billion buildout is complete...They’ll still be mostly manufacturing overseas...Although estimates show Apple’s U.S. production would likely quadruple to 20% in addition to creating approximately 336,000 U.S. jobs.
Takeaway #2: It’s Not Just Florida
Each month I bring you the latest in Florida’s voter registration news. As we’ve seen over the years the best indication of voter intention isn’t what happens in political polls in off election years. It’s the changes in voter registration information – the people will actually be voting the next time they go to the polls. In Florida, through the first six months of the year, Republicans have added to their advantage by a net of greater than 160 thousand voters so far this year. It’s been clear that Florida’s rightward trend towards to right from having been the ultimate swing state into the ultimate red state continues to take place. But the state that’s replaced Florida’s status as the ultimate swing state is showing similar trends to what Florida looked like entering 2020. Pennsylvania’s Democrats now hold a voter regisration advantage of only 59,000 voters. Last November, on Election Day, Democrats held an advantage over just over 300,000 voters (in an election Trump won). Republicans have never held an advantage in PA but that could be about to change and if it does...it’s a whole new political world.
Takeaway #3: Peak Heat
Are you ready for a break from the brutal summer heat? I have good news and bad news for you. The bad news is that if you answered yes, we’re statistically in the hottest week of the year for Southeast Florida. The better news is that it appears that we’ve already had the peak heat we’re going to see for the year. Historically, in the Palm Beaches, the hottest day of the year has been August 9th, with the 8th through the 11th producing daily highs of 91. But as we’re now set to enter what are typically the hottest few days of the year, there’s actually a bit of relief that’s coming courtesy of some wetter conditions. Instead, it appears that this year July 27th will prove to have been the hottest day of the year, and it looks like we’re generally past the peak heat of the year – a bit earlier than usual. Although with that said... While meteorologically speaking summer is only three months, by way of temperature patterns it is Florida’s longest season of the year. South Florida enters its “hot” weather phase, meaning average highs of 86 or higher, June 5th and remains in that pattern until September 30th – or just under four months. So, as you know it’s not going to be cool anytime soon, but you can take solace in having (likely) already passed the peak of the heat for this year.