Welcome back. Today, the de-escalation on tariffs between China and the U.S. couldn’t come at a better time for the TV business; Apple’s tariff-pricing strategy is informed by an awkward moment for Amazon; and luxury shoppers like getting pampered—who knew?

The U.S. and China said Monday that they will suspend most of the tariffs on each other's goods while talks continue, sending U.S. stock futures soaring and providing a ray of hope for battered businesses.

The news comes just in time for the TV industry, whose annual upfront selling season hits high gear this week with a raft of stage shows and parties.

Questions about tariffs’ potential impact on consumer spending have been threatening to pour cold water on the glitzy proceedings, Suzanne Vranica and Megan Graham report.

One consumer-product company last week was planning to cut its overall ad spending by 7% this year, while one financial-services company has slashed its ad budget by about 15%, according to people close to the companies.

And even with the walk back, most Chinese imports into the U.S. will face a 30% tariff overall, not counting separate levies on imports of steel, aluminum and autos.

“I don’t think it’s going to be a strong upfront, by any stretch of the imagination,” said David Campanelli, president of global investment at media agency Horizon Media.

Financial concerns will get short shrift on stage, though, as media conglomerates including NBCUniversal, Fox, Warner Bros. Discovery and Disney make their elaborate pitches to ad executives in New York City over the coming days.  

Netflix, Amazon and YouTube will also be vying for ad dollars, leaning on star power with appearances from the likes of Lady Gaga and MrBeast.

More: NBC is canceling “Suits LA” and at least four other shows as it makes room for the return of the NBA to its primetime schedule. [THR]

NBCU, Fox and Amazon all take the stage today. Here’s a complete upfronts calendar. [Ad Age] 

Apple is considering raising prices for its fall iPhone lineup but is determined to avoid any scenario in which it appears to attribute increases to U.S. tariffs, Rolfe Winkler and Yang Jie write.

Company executives took a lesson from the reaction when a news report in April said Amazon might show the impact of tariffs to its shoppers; the White House called it a hostile act and Amazon quickly said the idea “was never approved and is not going to happen.”

These circumstances have led Apple to look at what supply-chain insiders described as the least-bad choice: raising prices on the new iPhones to preserve profit and finding reasons other than tariffs to explain the move.

It couldn’t be determined what new features Apple may offer to help justify price increases.

The e-commerce company Mytheresa has figured out the secret of selling luxury goods online while rivals flamed out, Suzanne Kapner writes: obsessively focusing on big spenders.

Mytheresa showers them with perks like invitations to in-person special events, such as a private viewing of a New York City Ballet rehearsal. Exclusive collections from a tightly curated set of designers keep them coming back.

Roughly 40% of its sales come from less than 4% of its customers, and some of them shop with Mytheresa every week.

Next up: The company will see whether its strategy can help several struggling online luxury retailers that it recently acquired, including Net-a-Porter, in a deal that gives it the heft to take on traditional chains.

Brandi Carlile’s third annual Mothership Weekend music festival served an often overlooked music genre: “mom rock.” [WSJ]

A federal judge denied Burger King’s motion to dismiss a lawsuit alleging false advertising over the size of its Whopper sandwich. [BI]

The Dutch Bros drive-through beverage chain now has 1,000 locations, including markets far from its home in Grants Pass, Oregon. [Restaurant Business]

How creators are using generative AI to help make their videos, podcasts and newsletters. [Digiday]

Tourism companies are catering to “set jetters,” travelers who want to feel like they’re on the set of productions like “White Lotus,” “Yellowstone” or “Saltburn.” [NYT] 

Is “plus” branding finally over for streamers? ESPN will name its planned streaming app… “ESPN.” [CNBC]