President Trump’s tariffs on automobiles and auto parts have sparked a clash with mainstream economists, with the president arguing that they will boost American jobs and prosperity by encouraging domestic production. However, economists warn that tariffs could lead to higher car prices, disrupt supply chains, and trigger global trade wars, ultimately hurting the U.S. economy. Stock markets fell in response to the tariffs, with automakers and economists predicting disruptions and layoffs in the auto sector. Despite Trump’s claims that tariffs will benefit the U.S., economists remain skeptical and warn of potential negative consequences, including slower economic growth and reduced hiring.
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Bitcoin, Ethereum, and Dogecoin Soar as "Risk On" Trade Continues
Investors are actively buying risk assets, including growth stocks, tech stocks, and cryptocurrencies, with Bitcoin (BTC) rising 2.9%, Ethereum (ETH) 5.1%, and Dogecoin (DOGE) 6.2% due to positive macroeconomic news, particularly expectations of de-escalation in the U.S.-China trade war. Bitcoin has shown to be a risk asset rather than a hedge, while Ethereum and Dogecoin face uncertainty regarding their long-term value, especially as Ethereum struggles with transaction costs and Dogecoin lacks fundamental use cases. Overall,...
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