Donald Trump has reignited fears of a global trade war. On Truth Social, Trump vowed to impose 25% tariffs threats on Mexico and Canada unless border controls improve. Additionally, he plans to enforce 10% tariffs on Chinese imports starting January. His primary focus is on curbing illegal drug flows, including fentanyl, from entering the United States.
China quickly responded, emphasizing that a trade war benefits no one. Analysts believe Asia is better positioned now than during the 2018-2019 trade tensions, thanks to advanced supply chains and opportunities in sectors like artificial intelligence and greentech. Targeted retaliatory measures from China could soften the overall impact on its economy.
Investors are eagerly awaiting the release of the Federal Reserve's recent meeting minutes. The Fed cut rates in November, signaling confidence in inflation control. However, inflation’s decline has slowed, leaving the path of future rate cuts uncertain.
Fed official Neel Kashkari hinted at another rate cut in December, stating it remains a "reasonable debate." These decisions could heavily influence market performance heading into 2025.
Despite facing a 5.4% decline on Tuesday, Bitcoin remains attractive to corporations. Companies like Rumble and MicroStrategy have significantly increased their cryptocurrency holdings. Rumble announced a $20 million Bitcoin purchase, citing its value as an inflation hedge.
MicroStrategy followed suit, acquiring 55,500 bitcoins worth $5.4 billion earlier this month. Optimism over regulatory clarity under Trump’s administration has spurred corporate interest, positioning Bitcoin as a key player in financial markets.
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