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Let’s dive into what’s happening in the market today!

• Trump Doubles Steel & Aluminum Tariffs to 50%—What It Means for Your Wallet and the Economy

• Trump’s ‘Big, Beautiful Bill’ Faces Backlash Over Debt Math—Musk and Markets Sound the Alarm

• Google DeepMind CEO Warns: AI Misuse Is a Bigger Threat Than Job Loss

Trump Doubles Steel & Aluminum Tariffs to 50%—What It Means for Your Wallet and the Economy

President Trump has doubled tariffs on steel and aluminum imports to 50%, a move hailed by U.S. steelmakers as a win for national security and manufacturing, but criticized by industries that rely on the metals. While the administration says the tariffs will protect American jobs and revive domestic production, critics warn of rising costs for cars, canned goods, and construction, and potential job losses in sectors that use these materials. Experts say the tariffs could lead to higher consumer prices without significantly boosting production. Canada may retaliate, escalating trade tensions.

Trump’s ‘Big, Beautiful Bill’ Faces Backlash Over Debt Math—Musk and Markets Sound the Alarm

Elon Musk’s scathing criticism of President Trump’s massive domestic policy package—dubbed the “Big, Beautiful Bill”—highlights growing concern over the White House’s claim that the legislation won’t add to the national debt. Despite assurances from Trump’s economic team, independent analysts and bond markets warn the bill’s steep tax cuts and spending increases could balloon deficits by trillions. As Senate Republicans prepare to vote, skepticism from fiscal conservatives, Wall Street, and credit agencies threatens to derail the package. Still, the administration remains defiant, betting that growth from tariffs, deregulation, and investment will offset the cost—despite mounting evidence to the contrary.

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Google DeepMind CEO Warns: AI Misuse Is a Bigger Threat Than Job Loss

Google DeepMind CEO and Nobel laureate Demis Hassabis says the real danger from AI isn’t mass job loss—it’s the risk of powerful AI falling into the wrong hands. Speaking at SXSW London, Hassabis warned that misuse of advanced AI systems could pose serious security threats, urging global regulation to prevent bad actors from weaponizing the technology. While some experts fear AI could wipe out white-collar jobs, Hassabis believes the tech will boost productivity and create new roles. Still, he stresses the urgent need for international agreements and ethical guardrails as AI rapidly advances beyond current oversight.

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That’s a wrap for this edition of Finance Megaphone.

We hope the insights and updates we’ve shared help you stay informed and ready to take on the market. Remember, knowledge is power, and we’re here to keep you in the know every step of the way. Be sure to check back next edition for more timely news, expert analysis, and the latest trends in the financial world.

Until then, keep investing smart and stay ahead of the curve!

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