Morning Brew Daily Companies Brace for US Tariffs & Musk Gets Keys to Treasury Dept.
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Feb 3, 2025 In a whirlwind discussion, the hosts tackle the impact of Trump's sweeping tariffs on major trading partners like Canada and China, revealing potential consequences for everyday Americans. They dive into Elon Musk's controversial access to the Treasury's payment system, raising eyebrows over government oversight. Additionally, highlights from the recent Grammy Awards, including Beyoncé's historic wins and Rebecca Yarros' literary triumphs, add a celebratory touch. Finally, a glimpse into upcoming market influences rounds out the engaging conversation.
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Groundhog Day Disagreement
- Punxsutawney Phil, the groundhog, predicted six more weeks of winter after seeing his shadow.
- Staten Island Chuck, another groundhog, disagreed, not seeing his shadow.
New Trade War Magnitude
- Trump imposed tariffs on US allies, Mexico and Canada, impacting $1.4 trillion worth of goods.
- This is a larger trade war than Trump's first term, targeting allies rather than rivals like China.
Tariff Impact on Consumer Goods
- Tariffs on cars, groceries, building materials, and energy will likely increase prices for consumers.
- A single car's price might rise by $3,000 due to cross-border tariffs.
