Trump's Takeover of Canadian Rare Earths Miners Raises Concerns
The stock market experienced a significant decline on Friday, with the S&P 500 dropping nearly 3% after President Donald Trump threatened to increase tariffs on Chinese products.
This move is part of an ongoing trade dispute between the US and China, which has been progressing slowly. China has been heavily impacted by Trump's tariffs, with an effective tariff of 64.9%.
- The US government has purchased a 10% stake in Canadian rare earths developer Trilogy Metals (NYSE:TMQ).
- The purchase includes warrants to buy an additional 7.5% stake in the company.
As a result, Trilogy Metals' stock price surged nearly 140% last Monday.
Trump threatened "a massive increase of tariffs on Chinese products"
Author's summary: Trump's tariffs impact the stock market.
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