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- Trump vows 25% tariff on all imports from Mexico, Canada, 10% on China
Trump vows 25% tariff on all imports from Mexico, Canada, 10% on China
Bay Area Times
November 26, 2024
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Top stories today:
- Trump vows 25% tariff on imports from Mexico, Canada, 10% on China
- MicroStrategy buys another $5.4B of BTC at $98K
- Telegram’s revenue +190% to $525M in H1
- Apple said to have iPhone 17 “Air” with thinnest build
- Anthropic proposes open protocol for connecting AI chatbots with data
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of the few hallucinations):
1. Trump vows 25% tariff on all imports from Mexico, Canada, 10% on China
For Mexico and Canada, he cited the flow of drugs and illegal immigrants as motivations.
He accused China of breaking promises on stopping drug exports.
China’s yuan fell to 4-month low, 7.2730 per dollar.
BYD is now in doubt about whether to build its plant in Mexico.
Markets give Trump only 36% odds that he will actually impose tariffs on Mexico/Canada, suggesting that this could be a negotiating tactic
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3. MicroStrategy buys another $5.4B of BTC at $98K, as prices -6% to $92K
Funded by a $3B convertible note offering (at 0% interest rate) and $2.5B in share sales, part of the company’s 21/21 plan to issue $21B in convertible debt and $21B in stock.
$MSTR now has $36B in BTC and a $82B market cap (not including $7B in debt), which makes their issuance strategy very profitable for current shareholders.
4. Telegram’s revenue +190% to $525M in H1, digital assets +225% to $1.3B from $400M in 2023-end
