CNBC’s “Money Movers” What’s Next for Trade Deals? Nvidia Sparks Global Chip Rally, Musk Feuds with OpenAI 5/29/25
May 29, 2025
David Rosenberg, Founder of Rosenberg Research, shares his contrarian perspectives on the economy and investment. He discusses the fallout from a recent court ruling against sweeping tariffs and its impact on trade negotiations. The conversation also delves into Nvidia's soaring stock and the ramifications of export restrictions on the tech industry. Additionally, Rosenberg explores Elon Musk's rivalry with OpenAI, highlighting Musk's attempts to disrupt a crucial AI infrastructure deal. His insights offer a compelling look at the current economic landscape.
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Tariff Ruling's Impact on Trade
- A court ruling blocking President Trump's sweeping tariffs raises questions about negotiating leverage and ongoing trade deals.
- Despite the ruling, trade discussions continue as countries seek certainty amid remaining tariffs and appeal processes.
Market Reaction to Tariff Ruling
- The market had already priced in some tariff de-escalation, so the court's ruling led to a mild market reaction.
- Uncertainty about tariffs prolongs the timeline for defining trade rules, affecting investor sentiment.
NVIDIA Navigates China Restrictions
- NVIDIA faces revenue loss due to export restrictions to China but sees growth in other regions.
- CEO Jensen Huang is lobbying for less restrictive policies to tap into China's significant AI market opportunity.