Bloomberg Tech Trump Tariffs Roil Markets, Musk's DOGE In Action
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Feb 3, 2025 In this engaging discussion, guest Amy Seligow, a partner at Albright Stonebridge Group, shares her expertise on President Trump's controversial tariffs and their ripple effects on markets. She delves into the potential impacts on trade relations with Canada and China, amidst rising inflation concerns. The conversation also touches on Elon Musk's evolving role in cryptocurrency, particularly his team's actions regarding DOGE and federal payments. Lastly, Seligow discusses the interplay between AI advancements and tariff negotiations, shedding light on the complex landscape of tech and trade.
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Market Impact of Tariffs
- President Trump's tariff threats caused market volatility, especially impacting tech stocks.
- Tesla, Apple, and Nvidia experienced significant drops due to concerns about global trade disruptions.
Ontario Cancels Starlink Contract
- Ontario's premier canceled a $70 million Starlink contract due to the US tariffs.
- They also stated no US companies would receive provincial contracts while tariffs remain.
TSMC Stock Tumbles
- TSMC's stock tumbled due to Trump's tariffs and the DeepSeek AI development.
- Chip manufacturers face long-term decision-making challenges due to rapidly changing policies.