Trump’s Tariff Letters: A Political Love Letter?
This article, taken from CNBC’s Daily Open newsletter, discusses the recent letters sent by former U.S. President Donald Trump to 12 countries regarding new tariffs. Here’s a breakdown of the key points:
- The “Love Letter” Analogy: The article compares the letters to a modern-day version of courting, similar to how people now use Instagram DMs.
- Tariff Threats: The letters informed leaders of new tariffs, ranging from 25% to 40%, set to begin on August 1st, unless trade deals were negotiated.
- Reciprocal Tariffs: The article suggests the letters are a rehash of previous announcements, similar to the “reciprocal” tariffs Trump displayed in April.
- Market Impact: U.S. markets fell on the news of the tariffs, with major indexes ending in the red.
- Other Market News: The article also mentions Tesla’s stock drop due to Elon Musk’s political involvement and Samsung’s profit forecast.
- Laopu Gold: The article also mentions Laopu Gold, a Chinese jeweler, opening its first overseas store in Singapore.
Read the original article here: [Link to Original Article]