Trump’s tariffs backfire, China remains silent, Marc Andreessen backs Musk’s $10 billion plan and more: This week in the economy – JPMorgan Chase (NYSE:JPM)

It was an eventful week in the business and political world. Here’s a quick look at the top stories you may have missed. Trump’s ‘Liberation Day’ tariffs are counterproductive, the silence in China speaks volumes Nobel Prize-winning economist Paul Krugman has warned that the “Liberation Day” tariffs were imposed by the former president Donald Trump […]

Scott Bessent has it ‘backwards’, says Peter Schiff: China’s economy will ‘grow’ as trade with the US decreases

Economist Peter Schiff pushed back against the Minister of Finance Scott Bessent comments on US-China trade, saying Beijing’s decision to reduce its dependence on US markets will strengthen its economy, not weaken it. Bessent ‘Has it backwards’ On Wednesday, Schiff said in a post on “Selling to customers who can actually afford to pay is […]