Shadd Dales and Anthony Varrell dive into one of the most immediate pressures facing the cannabis industry—tariffs on Chinese imports—with exclusive insights from Tilt Holdings (NEO: TILT) CEO Tim Conder, who just returned from a trip to China.While some Chinese goods are facing tariffs up to 145%, cannabis vape hardware is being hit with 40% to 55% tariffs, depending on the component. That’s a direct hit to profitability for brands that rely on Chinese-made batteries, cartridges, and devices. Tim breaks down the current mood in China, the pace at which manufacturers are shifting to countries like Indonesia and Malaysia, and the real costs of pivoting supply chains.Plus, we recap Cresco Labs (CSE: CL, OTCQX: CRLBF) latest earnings—$166 million in Q1 revenue with $36 million in adjusted EBITDA and $30 million in operating cash flow. Revenue is down year-over-year, but Cresco is leaning into discipline—cutting off credit-risky wholesale accounts and preserving margin. Not a growth story just yet, but a sustainability play, and that counts in this market.AYR Wellness (CSE: AYR.A, OTCQX: AYRWF) is in a more precarious spot. The company delayed its earnings filing and is working through a major debt restructuring with help from Moelis & Company. It’s not panic mode—but it’s definitely a watchlist situation as they explore capital structure alternatives.More concerning is the industry-wide trend of delayed earnings. From missed deadlines to last-minute restatements, these delays are now red flags for investors. It begs the question—how many operators are juggling debt, liquidity issues, or even survival?#cannabisstocks #vapeindustry #timconder #tiltholdings #crescolabs #ayrwellness #cannabisinvesting #supplychainnews #tariffs2025 #tradetoblackWant to see last week's recap?   • Texas Hemp Ban, SAFE Banking Turmoil & Cur...  Want to see more Cannabis Reform videos?   • What’s the #1 Cannabis Stock to Own in 202...     • Why Is Federal Cannabis Legalization Takin...     • How the Government is holding back the Mar...     • Senator Tillis Pushes Back on Trump’s Phar...  Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter!https://newsletter.thedalesreport.com...Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web:Facebook:   / thedalesreport  Twitter:   / thedalesreport  Instagram:   / dalesreport  LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, please get in touch with us at:[email protected] views on the Trade To Black podcast and the guests on this podcast are purely opinions. You should not treat any opinions expressed by us or our guests as investment advice. The views on this podcast are solely intended to be informational and are not investment advice. Please go to our website for a full list of disclosures and details of any client relationship we have. https://thedalesreport.com/website-te...