Aluminum Tariffs

Elon Musk’s Net Worth Drops $52 Billion in 2024,

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In today edition we will talk about

  • U.S. Stocks and Bitcoin Struggle Under Trump’s Presidency Amid Inflation Concerns

  • Trump’s Aluminum Tariffs Could Cost 100,000 U.S. Jobs, Industry Leaders Warn

  • White House Takes Control of Press Access, Reversing Decades of Precedent

  • Elon Musk’s Net Worth Drops $52 Billion in 2024, but He Remains World’s Richest Person

U.S. Stocks and Bitcoin Struggle Under Trump’s Presidency Amid Inflation Concerns

Despite early optimism about a business-friendly Trump administration, U.S. stocks have fallen since his inauguration, trailing European and Chinese markets. Inflation worries, trade policy uncertainty, and a weak consumer confidence report have driven investors toward safer assets like government bonds, causing the S&P 500 and Nasdaq to slide for four consecutive sessions. Bitcoin, which peaked at $106,000 near Trump’s inauguration, has dropped 16% in the past month. Meanwhile, global markets are thriving, with European and Chinese stocks outperforming. While concerns over market overvaluation persist, some analysts believe strong corporate earnings could sustain the rally despite ongoing volatility.

Trump’s Aluminum Tariffs Could Cost 100,000 U.S. Jobs, Industry Leaders Warn

President Trump’s plan to impose a 25% tariff on imported aluminum aims to boost domestic manufacturing but could lead to significant job losses and economic fallout. Alcoa CEO William Oplinger warns that the tariffs may eliminate 20,000 direct aluminum jobs and up to 80,000 related positions across industries like mining and manufacturing. With Canada as the top aluminum supplier, the increased costs—estimated at $1.5–$2 billion annually—could force companies like Coca-Cola to shift packaging materials and lead to layoffs. History shows tariffs can spark retaliatory trade wars, raising prices for consumers and disrupting supply chains. While the White House defends the move as essential for national security, industry leaders argue it creates uncertainty, making long-term U.S. investment in aluminum production unlikely.

Smart Investors Are Betting On A.I. Stocks—Are You?

Experts say Trump’s $500B A.I. investment plan could transform the industry.

Meanwhile, a small but ambitious A.I. healthcare company just went public after eight years of innovation, securing $18M in funding and partnering with industry giants.

With a $120M market cap and shares still under $2, this stock may not stay cheap for long.

Some Tweets

White House Takes Control of Press Access, Reversing Decades of Precedent

The White House is now deciding which journalists can cover the president, stripping the White House Correspondents’ Association (WHCA) of its long-standing role in managing the press pool. Press Secretary Karoline Leavitt announced that while traditional media outlets will still be included, the administration will bring in new voices from streaming services, radio, and emerging media. Critics, including WHCA President Eugene Daniels, warn this move threatens press independence by allowing the government to control who reports on the president. The decision follows a controversy over banning the Associated Press from certain events, raising concerns about political favoritism in press access.

Elon Musk’s Net Worth Drops $52 Billion in 2024, but He Remains World’s Richest Person

Despite losing $52 billion this year, Elon Musk remains the world’s richest person with a net worth of $380 billion, far ahead of Meta CEO Mark Zuckerberg. Tesla’s stock has fallen over 20% in the past month, dropping its market value below $1 trillion for the first time since late 2024. Slowing EV demand, increased competition—especially in China—and declining U.S. sales have contributed to Tesla’s struggles. Musk’s wealth peaked at $347.8 billion after Donald Trump’s 2024 election win, as investors anticipated deregulation benefiting Tesla. However, recent setbacks, including federal downsizing under Musk’s leadership in the Department of Government Efficiency, have contributed to his financial decline.

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