President Donald Trump said he would consider lowering tariff rates imposed on China to secure Beijing’s support for a sale of the US operations of ByteDance Ltd.’s social video platform TikTok to an American company
“Every point in tariffs is worth more than TikTok,” Trump told reporters Wednesday in the Oval Office. He suggested that “in order to get China” to agree to a sale, “maybe I’d give them a reduction in tariffs.”
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OpenAI is nearing completion of a record-breaking $40 billion funding round, led by SoftBank Group Corp. The deal is expected to value the company at $300 billion, almost doubling its previous valuation of $157 billion from October. SoftBank will invest $7.5 billion, with an additional $2.5 billion coming from an investor syndicate
Other potential investors in talks to participate include:
•Magnetar Capital (potentially contributing up to $1 billion) •Coatue Management •Founders Fund •Altimeter Capital Management
This funding round, if completed, would be the largest of all time according to PitchBook data
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President Donald Trump announced a significant escalation in his trade policies on Wednesday, March 26, 2025, by declaring a 25% tariff on all automobiles not manufactured in the United States. This new tariff is set to take effect on April 2, 2025
Key Points of the Announcement
•The tariff will apply to all cars shipped to the United States from foreign countries
•The rate will start at the current 2.5% baseline and escalate to 25%
•Vehicles produced within the U.S. will be exempt from the tariff
Impact on the Auto Industry The announcement has already caused significant market reactions:
•Shares of major U.S. automakers declined in after-hours trading, with Ford falling 2%, General Motors dropping 2.3%, and Stellantis decreasing by 3%
•Industry experts predict that the tariffs could substantially increase vehicle prices for consumers, potentially by thousands of dollars
•The tariffs may disrupt approximately 30% of North American production, affecting around 20,000 vehicles daily
Global Trade Implications
This move is part of a broader trade strategy by the Trump administration:
•The auto tariffs coincide with Trump’s planned “Liberation Day” on April 2, when he intends to implement reciprocal tariffs against major U.S. trading partners
•The announcement has raised concerns about potential retaliation from other countries and further escalation of global trade tensions
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Gold prices could reach $3,500 per ounce within two years, according to Bank of America, driven by demand from central banks and China’s insurance industry. The precious metal has already gained 14% this year, breaking the $3,000 per ounce mark for the first time. This surge is attributed to geopolitical tensions and President Trump’s trade war, pushing investors towards safe-haven assets. Gold has seen a 6% increase this month alone and is currently trading at $3,024.8 per ounce
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Barclays reduced its 2025 S&P 500 target from 6,600 to 5,900, citing concerns about U.S. tariffs potentially slowing economic activity. This new forecast, now the lowest in CNBC Pro’s Market Strategist Survey, suggests only a 0.3% upside from the year’s starting point. Strategist Venu Krishna emphasized the importance of considering tariffs’ impact for at least the next six months. Barclays upgraded the financial sector to positive, citing decent valuations, earnings momentum, and potential benefits from deregulation under the Trump administration. Simultaneously, the firm downgraded the industrials and discretionary sectors
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