Trump announced plans for a 10% tariff on Chinese goods and a 25% levy on imports from Mexico and Canada, citing concerns over fentanyl trafficking and immigration. BofA analysts expect these measures to intensify trade tensions and disrupt bilateral trade flows if implemented in early 2025.
The U.S. is set to implement its third major crackdown on China’s semiconductor industry, targeting 140 entities with new export restrictions aimed at curbing China’s access to advanced chips and equipment vital for artificial intelligence and other high-tech applications.
OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, has been looking to unwind production cuts by the first quarter of 2025. However, the outlook for surplus supply has put pressure on prices. The group accounts for about half of the world’s oil production.
The world’s largest cryptocurrency fell into a trading range below the $100,000 level in recent weeks, after largely failing to cross the coveted level during a rally through November. But it still remained close to recent record highs of over $99,000.
Chinese chip companies targeted by Washington with fresh export controls have vowed to speed up supply chain localisation and said they would be able to continue production thanks to recent efforts to build equipment stockpiles.
