DATA POINTS
- 9: The number of presidential pardons granted by President Biden on his last day in office
- 12 hours: The length of the Supreme Court imposed TikTok ban
- 26: The number of executive orders President Trump signed on day one
- 120: The total number of hostages that have been freed from Gaza
- 228,000: The number of federal employees called back to in-person work following a Trump executive order
- 500,000: The record number of attendees at the 48th Annual MLK Day Parade
To Tariff, or Not to Tariff
Are tariffs a tool or a weapon? President Trump thinks they can be both, and by the looks of it, Wall Street CEOs agree.
In his first few days in office, Trump has stated plans to use tariffs to place a 25% tax on Canadian and Mexican goods, saying the countries are sending “mass numbers of people and fentanyl” into the U.S. He also told press he’d be imposing an additional 10% tax on Chinese imports claiming that China is sending fentanyl to Canada and Mexico for a final U.S. destination. In total, Canada, Mexico, and China account for more than one-third of goods and services imported into the United States.
Tariffs have traditionally been used to counter unfair trading practices, and President Trump assesses the winning tactic will be successful in addressing American border security and illicit drug trafficking.
The tariffs are certain to have an effect on other countries, but what will they mean for American consumers? Some items may see additional inflation, but if it’s in the name of national security, Wall Street argues it is worth it. Per JPMorgan CEO, “National security trumps a little bit more inflation.” Do you agree?
ChatGPT Puts Together a Fundraiser
Big Tech is about to spend big money to build infrastructure to house U.S. artificial intelligence advancements. The joint venture Stargate, led by ChatGPT’s OpenAI, SoftBank Group, Oracle, and MGX (among others), will invest half a trillion dollars into the initiative. Although the plan remains vague, its first data center will be constructed in Texas, managed by Oracle, and used by OpenAI. While the initiative will need to bring on additional equity investors, Microsoft, Arm Holdings, and NVIDIA were all named technology partners in the project.
Artificial intelligence has been around for years, but OpenAI singlehandedly changed the rules of the game in 2022 when it released ChatGPT. Its popularity did more than shake up Silicon Valley – its disruption was more akin to an earthquake, forcing each Big Tech company to redraw its product plans while investing in machine learning. They may change the game once again with $500 billion worth of wind in their sails.
More at the Wall Street Journal
Tales from the Crypto
The cryptocurrency community saw the incoming Trump Administration as a win amid President Biden’s efforts to restrict the industry. The price of bitcoin has been skyrocketing since Election Day.
In an unexpected turn, the Trump Team launched meme coins (a new cryptocurrency token) just before the inauguration. The coins are stamped with a picture of Trump holding up a fist with the words “fight fight fight.” Meme coins are a highly volatile type of cryptocurrency driven by popular internet or cultural trends. They lack intrinsic value but can experience dramatic price surges or crashes. Trump’s coin started selling for $10, but by Sunday afternoon, the meme coin was trading at $70.
Crypto enthusiasts were less than pleased with Trump’s meme coin move, seeing it as a cash grab that undermines efforts to legitimize crypto assets.
Though Trump’s appetizer may have caused some heartburn for the crypto community, he plans for a more palatable main course. He has promised to create a U.S. bitcoin stockpile and ease restrictions for crypto companies to access more of the financial marketplace. It seems like bitcoin may have a resurgence if the second Trump term opens new doors for its subscribers.
Read More at the Associated Press
A Song of Ice and Fire
In a week of historic events, the weather didn’t back down. In the South and East, a rare winter storm brought polar temperatures and snow to places unaccustomed to such weather. Southern California continues battling wildfires fueled by powerful winds.
In the South, freezing temperatures 20 to 30 degrees lower than normal have brought life to a standstill. Places like Florida experienced the most significant bout of winter weather since 1989, with reports of 5-12 inches of snow. States including Louisiana, Alabama, and Georgia have declared emergencies, with officials urging people to stay off the roads and prepare for possible power outages.
On the West Coast, strong Santa Ana winds have reignited wildfires in already devastated areas. Communities near Los Angeles remain on edge as the Palisades Fire continues to endanger homes and lives.
President Trump is expected to tour damaged areas and meet with Californians this weekend to assess damage and trigger federal relief programs for affected families.
The Buckeye Bullseye
Ohio State’s win over Notre Dame in the 2025 College Football Playoff National Championship was a rivalry comeback – not only for the Buckeye team but for TV ratings. OSU’s victory averaged 22.1 million viewers, the most-watched game of the expanded playoff season. Year-over-year, viewership was down. Last year’s championship match between Washington and Michigan drew 25.05 million viewers. Comparisons may not be fair, though, as the 2025 championship happened hours after President Trump’s inauguration and competed with MLK Day coverage.
The Buckeye season merited high marks. After their season’s early heartbreak against Michigan two months prior, the Buckeyes turned it around in the game that mattered. Quarterback Will Howard was on point, throwing for 231 yards and two touchdowns, while freshman star Jeremiah Smith landed a jaw-dropping 56-yard catch late in the game.
With NFL conference championships around the corner and the Superbowl on the horizon, 2025 is making for some good football.
See you next week!
Be sure to follow us on Facebook, Twitter, and LinkedIn for more news and industry updates. To receive a copy of The Weekender in your inbox, sign up here.
