Tariff tip

Good morning. Jamie Dimon offers advice as Donald Trump’s tariffs loom. AI models show promise in forecasting hurricanes. And where to go for an offbeat vacation. Listen to the day’s top stories.

JPMorgan boss Jamie Dimon offered a tip to any attendees at the APEC CEO summit in Peru fretting over Donald Trump’s threats to impose tariffs on American imports. “Read his book: create options,” Dimon said, presumably referring to a strategy Trump espoused in The Art of the Deal. The president-elect’s tariff talk may be effective in getting other countries to negotiate trade deals, he added. Trump dominated the gathering without even being there. He was hosting a party at Mar-a-Lago where he was hailed as a kindred spirit by Argentine President Javier Milei.

Here’s the latest on Trump’s nominations. Doug Burgum will lead the Department of the Interior, a position that gives the North Dakota governor significant influence over plans to get drillers drilling. Former congressman Doug Collins is to be nominated as Secretary for Veteran Affairs. The president-elect’s choices have drawn criticism but incoming Senate majority leader John Thune told Fox that “all options are on the table” to get them cleared. As the drama unfolds, the heads of the largest corporations are bracing for four years of potential chaos.

Chip update: Applied Materials, the largest US maker of semiconductor-manufacturing equipment, gave a disappointing forecast, signaling some customers may be holding off on orders. Meanwhile, the US finalized its Chips Act incentive deal with Taiwan-based giant TSMC, part of a program designed to bring production back to American soil. Read how the US blew its chance to lead in chipmaking tech.

Meta said it intends to appeal US court rulings allowing dozens of states and hundreds of school districts to proceed with lawsuits blaming “addictive” social media apps for contributing to a mental health crisis among young people. As the issue of safety builds, Meta last week said it planned to use AI to identify users on Instagram who are lying about their age. The platform has already sent a video to millions of teenagers to warn them about sextortion.

Quick market snapshot: US stock futures dipped as traders digested Federal Reserve Chairman Jerome Powell’s indication that the central bank is in no rush to cut interest rates. Watch this video breaking down today’s key market themes. In China, the economy appears to be stabilizing. Retail sales expanded at the fastest rate in eight months in October, and that’s good news for anyone invested in Asian stocks.

AI-driven models are showing promise in forecasting hurricanes, beating out conventional models.

Porsche's falling Taycan sales demand a bigger fix, Chris Bryant writes. The German automaker must adapt to multiple threats including waning Chinese demand, slower electric-vehicle uptake and a possible US trade conflict.

Looking for an offbeat vacation away from the crowds? The UN has come up with an initiative that aims to promote responsible tourism and raise awareness of lesser-known destinations. Here are five unexpected places you may want to check out. Just get there before they become mainstream.

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