Hi guys, I’m back with another economic article following the recent news from February.
President Trump’s plan to impose tariffs on goods from neighboring countries like Canada and Mexico, as well as countries like China, could result in a huge price increase. According to a study, these tariffs may cost Americans up to $1200 annually. In addition, the tariffs have led democrats to highlight how these policies will affect the average American. To add to the chaos, Congress is having a hard time finding a median to make a bill that would prevent the government from shutting down on March 14.
America could be in hot water with a potential recession coming in the future. Market strategists like David Rosenberg are telling people to be cautious as he thinks tariffs, government spending, and personal savings could lead to a slow and recession-like economy. A suggestion by many would be to diversify your portfolio, especially with non-US stocks or precious metals like golf and silver.
Some rebounding commodity prices have led to a large rebound in the mining industry. They experienced a $2.9 billion prodigy bood, which contributed to a $7.3 billion increase in overall company earnings.
On the world news side, the war in Ukraine has reached heightened tensions after a recent meeting with President Trump and President Zelenskyy went south. Trump and Zelenskyy went back and forth on who was at fault for the war. North Korea opens its border to tourists after 5 years of not letting anyone in. Finally, Israel blocks aid to Gaza amid a ceasefire despite. There is still fighting going on from both sides, even though a ceasefire was made for Ramadan.