President Trump announced tariffs on Chinese imports Thursday, reigniting fears of a trade war and sending jitters through the the stock market.
“Even though this has been out there, the big worry is what’s the next shoe to drop,” said Daniel Ives, Chief Strategy Officer at GBH Insights.
The tariffs are aimed at curbing what Trump calls “a tremendous intellectual property theft problem.”
U.S. Trade Representative Robert Lighthizer now has 15 days to identify $50 billion worth of imports to tax, with a focus on technology products.
Many experts and investors fear that China will retaliate, impacting companies like Boeing that have carved large markets in China.
This move comes shortly after Trump levied taxes on imported steel and aluminium, angering allies around the world, including Canada and the EU.
Lighthizer signaled on Thursday that most of those allies will now be exempt from the metals tariffs, seeming to send a clear signal that much of Trump’s protectionist policies are squarely crafted with China in mind.
Overall, Chinese companies may have more to lose from these recent IP tariffs than U.S. tech companies, said Ives. He pointed out that, other than Amazon, revenue from China is negligible for most companies.
In addition to the tariff news, the markets were still reacting to Facebook’s privacy scandal.
The social media giant “continues to be that dark cloud over tech stocks,” said Ives.
“[It’s] been a lot of angst amongst investors we’ve been talking to.”
Dylan Douglas, host of 'Young American with Dylan Douglas,' joins Cheddar to reveal how Gen Z is feeling about the election and what issues matter most to them.
Priceline CEO, Brett Keller, joins Cheddar to discuss the latest travel trends and how Hurricanes Helene & Milton have affected those flying south. Watch!
Hyperice CEO, Jim Heuther, joins Cheddar to discuss the company's latest product collaboration with Nike. Find out how it is helping your favorite athletes.
Founder, Chairman and Principal Analyst of Constellation Research Inc., Ray Wang, reveals how Tesla's Robotaxi is going to disrupt the transportation industry.
Have Taylor Swift fans dubbed Flava Flav as King of the Swifties? Plus, his new partnership with Old Spice and if he will ever go back to the Olympics. Watch!
Education Reporter for The Wall Street Journal, Doug Belkin, discusses his latest piece and delves into why incoming freshmen are preferring southern schools.
Founder & CEO of FLYR, Alex Mans, joins Cheddar to talk about the current state of the airline industry and how his company is updating technology in the sky.
Spirit Halloween CEO, Steve Silverstein, stops by Cheddar to talk SNL, this year's top costume ideas and why you should watch out for Spirit Christmas. Watch!
