Prof G Markets Trump Unveils Steep New Tariffs, TikTok Develops App for U.S. & CoreWeave’s $9B Acquisition
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Jul 8, 2025 The podcast dives into the latest tariffs imposed by Trump, analyzing their economic impact and provoking trade tensions. It also discusses TikTok's development of a dedicated app for U.S. users amidst potential sale talks, raising eyebrows about privacy and strategy. Finally, the conversation shifts to CoreWeave’s ambitious $9 billion acquisition of Core Scientific, exploring the complexities of the stock deal and skepticism from investors about its true valuation and business sustainability.
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Trump Revives Tariffs on Allies
- Trump announced a new set of tariffs on major allies, including Japan and South Korea, after a 90-day tariff pause ended.
- These tariffs impact key trade partners and reflect heightened trade tensions despite longstanding alliances.
Tariffs as Market Access Fees
- Barry Appleton explains the tariff letters as Trump's way of charging countries for market access, akin to a membership fee.
- This strategy aims to disrupt previous free trade agreements by monetizing access and creating a policy reveal over time.
TikTok’s US App Signals Sale
- TikTok plans to launch a new US-specific app ahead of potential sale to American investors, reflecting efforts to comply with US regulatory demands.
- This move signals a significant step towards a TikTok sale, with timing coinciding with trade negotiations involving China.