🚀 Impact of Trump's tarrif proposals

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Donald Trump's proposal to impose 100% tariffs on countries that move away from the U.S. dollar could create a "lose-lose" scenario for both the U.S. and China, according to Hao Hong, partner and chief economist at GROW Investment Group. During a rally in Wisconsin, Trump vowed to maintain the dollar's global dominance by penalizing countries that abandon it. While this tactic aims to reinforce the dollar’s reserve currency status, Hong argued that such tariffs would exacerbate U.S. inflation and harm Chinese exports, which are already facing challenges. Analysts warn this strategy may ultimately hurt both economies.

2. Huawei has garnered significant attention for its new trifold Mate XT smartphone, accumulating over 2.7 million pre-orders within just two days, as revealed by its website. The Chinese tech giant's pre-orders began on Saturday, ahead of Apple's iPhone 16 launch. While Huawei has not disclosed the Mate XT's price, sales are set to begin on September 20. In the second quarter of 2024, Huawei ranked fourth in China's smartphone market with 10.6 million shipments, surpassing Apple's 10 million in the first quarter.

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4. Headlines

   1. Waffle House CEO Walth Ehmer passed away over the weekend.

   2. Air Canada is preparing to shut down operations due to a labour dispute.

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