It’s been a turbulent week in the world of global trade. From chairman Donald Trump‘s tariff battles to a potential AI crisis, here’s a quick recap of the week’s top stories.
Peter Schiff challenges Trump’s tariff strategy
Renowned economist Peter Schiff criticized US trade policy on Friday. This came as Trump announced a new 10% global tariff after a significant legal setback. Schiff took to Twitter to take issue with the long-standing claim that foreign countries are exploiting the US through trade deficits.
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Scott Bessent dodges question about $134 billion tariff reimbursement
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Economists dispute Citrini’s AI Doom thesis
The note ‘The Global Intelligence Crisis of 2028’ Citrini research provoked a sharp reaction from Wall Street economists and strategists. Now a growing number of experts are challenging the idea that an AI-powered increase in productivity could lead to mass unemployment, collapsing demand and systemic financial problems.
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EU warns against tariff increases
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The Trump administration announces a postponement of tariff refunds
On Friday, the US government announced that companies seeking refunds after the Supreme Court invalidated $133 billion in tariffs would face delays. The announcement came as Trump questioned whether the case could be retried.
Last week’s Supreme Court ruling lifted many of President Trump’s emergency law tariffs, dealing a blow to one of his signature trade policies.
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