As the weekend wraps up, we bring you a recap of the major stories that have shaped the business world. From potential changes in dollar stores due to Trump’s tariff plans to Canada’s possible retaliation in a trade war, there’s a lot to catch up on. Let’s not forget the significant milestones achieved by Elon Musk and the surprising alliances forming in the political and business arenas. Here’s the lowdown on what you may have missed.
Trump’s Tariff Plans Could Reshape Dollar Stores
A proposal by President-elect Donald Trump to impose tariffs on products imported from China, Canada, and Mexico could significantly impact the product assortment and pricing in American dollar stores. Dollar Tree Inc. DLTR, known for offering items at $1 or less, has already raised prices to $1.25 to combat inflation.
Canada Considers Export Taxes in Potential Trade War
In response to Trump’s proposed tariffs, Canada is contemplating imposing export taxes on goods, including uranium, oil, and potash. According to a Bloomberg report, retaliatory tariffs on U.S.-made goods and export controls on certain Canadian products are most likely. The Trudeau government may also consider expanding its powers over export controls.
Elon Musk Becomes First Person Worth $400 Billion
Thanks to a continued surge in Tesla Inc.’s TSLA stock price since Trump’s 2024 presidential election win, Elon Musk has become the first person ever worth more than $400 billion. Tesla’s stock hit a new all-time high of $415 on Wednesday, surpassing its previous high of $414.50.
Mark Zuckerberg Donates $1M to Trump’s Inauguration
Meta Platforms Inc.’s META CEO Mark Zuckerberg and his company have donated $1 million to support President-elect Donald Trump’s inauguration events. This is Meta’s first contribution to an inauguration fund and comes amid efforts to mend its relationship with Trump, who had previously accused the company of censoring right-wing voices.
Trump and Bezos to Break Bread
President-elect Donald Trump has announced plans to dine with Amazon.com Inc.’s AMZN founder Jeff Bezos. This surprising alliance comes after years of clashes and marks a shift in their relationship following Trump’s recent election win.
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This story was generated using Benzinga Neuro and edited by Anan Ashraf.
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