US President Donald Trump has threatened to impose 200% tariffs on China over the country’s refusal to export rare earth magnets. In a move that analysts believe could signal a deal soon, Trump stated his intentions in a Monday post on Truth Social. The threat comes as tensions between the two nations remain high.
Trump has also fired Fed Governor Lisa Cook, citing “sufficient cause” for her termination. However, Cook has disputed this claim, arguing that Trump lacks the authority to make such a decision. Meanwhile, countries with digital services tax will face substantial new tariffs and restricted chip exports from the US, according to Trump’s vow.
The market took a hit on Monday, as stocks lost steam and gave back some of Friday’s gains. The S&P 500 index is expected to undergo changes this week, including the removal of Walgreens Boots Alliance in favor of Interactive Brokers.
In other news, Nvidia earnings are set to be released this week, with some analysts suggesting a look at a potential Nvidia derivative that could benefit from artificial intelligence. Additionally, US President Trump and South Korean President Lee Jae Myung announced several agreements during their meeting in the Oval Office, including multibillion-dollar investments and record aviation purchases.
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Source: https://www.cnbc.com/2025/08/26/cnbc-daily-open-a-rebranding-exercise-is-needed-for-the-white-house.html