Trump Unveils Tariff Policy

FINANCE
Trump Unveils Tariff Policy

President Donald Trump on Wednesday unveiled long-anticipated reciprocal tariffs aimed at resetting America’s trade relationships. Under the new policy, the U.S. will impose tariffs at about half the rate other countries levy on American goods, with a minimum 10% tax. Speaking from the White House Rose Garden, Trump declared, “We subsidize a lot of countries. We’re not taking it anymore,” adding that the tariffs would “make America wealthy again.”

Trump cited specific examples: China taxes U.S. goods at 67%, so the U.S. will respond with a 34% tariff. The European Union’s tariffs total 39%, prompting a 20% U.S. response. Tariffs of 25% will be placed on South Korea, 24% on Japan, and 32% on Taiwan. He also announced 25% tariffs on all foreign-made cars and parts, effective at midnight.

The announcement rattled markets and reignited concerns among economists and analysts. Critics argue the tariffs may increase inflation by raising the cost of imported goods, which businesses typically pass on to consumers. With inflation still lingering after peaking at 40-year highs, further price hikes could slow consumer spending and weaken the economy.

Major banks have warned the tariffs may increase the risk of a recession, and the Federal Reserve remains cautious, wary of making interest rate moves amid economic uncertainty. Economists also warn of potential stagflation—where stagnant growth and high inflation coexist. One think tank bluntly called the new tariff policy “a recipe for making Americans worse off,” reinforcing fears of long-term economic disruption.

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TECH
Amazon Makes Last-Minute TikTok Bid

Amazon has submitted a last-minute bid to acquire TikTok, just days before a U.S. ban is set to take effect. A Trump administration official, speaking anonymously, confirmed Amazon sent a formal offer in a letter to Vice President JD Vance and Commerce Secretary Howard Lutnick. The New York Times first reported the development.

President Trump recently delayed enforcement of a Supreme Court-backed law requiring TikTok’s Chinese parent company, ByteDance, to sell the platform to a U.S.-approved buyer or shut it down. While he hinted at extending the pause again, Trump also emphasized he expects a deal by Saturday.

Amazon declined to comment, and TikTok has not responded. Other potential bidders include Oracle, Blackstone, Perplexity AI, and various investor-led groups offering as much as $47.5 billion. Perplexity AI has proposed remaking the TikTok algorithm with U.S.-based infrastructure to meet domestic privacy standards.

Investor groups led by Frank McCourt and Employer.com’s Jesse Tinsley have made multibillion-dollar offers, while Wyoming entrepreneur Reid Rasner claims to have offered ByteDance nearly $48 billion.

Despite national security concerns raised by the FBI and FCC—specifically about potential data sharing with China—no public evidence has confirmed such actions. TikTok has repeatedly denied it would comply with such requests.

Interestingly, Trump now credits TikTok for helping him connect with younger voters, a shift from his earlier stance when he tried to ban the app. His administration is set to discuss TikTok’s fate this week, as the ban deadline looms and acquisition talks intensify.

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