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Trump Shocks Markets with Sudden 25% Tariffs on Canada and Mexico, Doubles China Tariffs to 20%
President Donald Trump has confirmed that 25% tariffs on imports from Canada and Mexico will go into effect on Tuesday, sending shockwaves through financial markets. The announcement came as a surprise, with Trump stating there was "no room left" for negotiations or delays. The tariffs are expected to impact a wide range of products and industries, potentially raising prices for American consumers and businesses. In response, Canada has prepared a package of counter-tariffs against U.S. goods, signaling a potential trade war between the North American allies.
Trump and TSMC to Unveil $100 Billion U.S. Chip Investment, Bolstering Domestic Semiconductor Industry
President Trump and Taiwan Semiconductor Manufacturing Company (TSMC) are set to announce a massive $100 billion investment in the United States. The announcement, scheduled for 1:30 P.M. ET, aims to boost domestic chip production, enhance supply chain security, and solidify U.S. semiconductor leadership. This significant move is expected to have a substantial impact on the market and the U.S. technology sector.
Trump's Crypto Reserve Plan Sparks Market Rally, Raises Questions About Funding and Conflicts of Interest
President Trump's announcement of plans to include major cryptocurrencies in a new U.S. strategic reserve has sent shockwaves through the crypto market. Bitcoin surged 20% from last week's lows, with other cryptocurrencies like Ethereum, XRP, Solana, and Cardano also rallying. This news comes as Trump's appointed 'Crypto Czar', David Sacks, confirmed selling all his personal crypto holdings before taking office to avoid conflicts of interest. The move has sparked debates about market integrity and funding sources for the reserve plan. Meanwhile, U.S.-Philippines defense ties remain strong under Trump, with a focus on LNG trade.
Other News
- Atlanta Fed's Q1 GDP Forecast Plunges to -2.8%, Signaling Potential Economic Slowdown
- Eurozone Inflation Dips to 2.4%, Fueling ECB Rate Cut Speculation
- GitLab Exceeds Q4 Targets, but Stock Dips on Cautious Annual Forecast
- SEC to Dismiss Lawsuit Against Kraken, Boosting Crypto Industry Outlook
- FDIC Approves Rollback of Biden-Era Bank Merger Scrutiny, Easing Path for Consolidations
- Intel's 18A Chip Process Faces Delays, but Nvidia and Broadcom Show Early Interest
- AI Cloud Firm CoreWeave Files for Nasdaq IPO, Showcasing Revenue Growth
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