Wilbur Ross Talks Trump Tariffs, Says Brazil Is a 'One-Off'

Tariffs and Trade - The original tariff deadline of July 9th was pushed back to August 1st [1] - Major countries have submitted counterproposals to the Trump administration to avoid tariffs [2] - The US has already collected $100 billion in tariffs, expected to reach $300 billion by year-end [4] - $300 billion on a four-year basis is a little over 1% of the US economy, but the impact will be a fraction of 1% after importers, exporters, and foreign governments absorb some of it [5] - Uncertainty around tariffs can erode investor confidence [7][9] - The Trump administration is using tariffs more broadly for diplomatic and other goals, not just trade [13][14] Crypto and Investment - The speaker is joining the board of Reserve One, a company focused on Bitcoin Treasury [18][19] - The speaker's initial objection to crypto was the lack of government regulation and professional investors [20] - Institutional investors like BlackRock and Fidelity are entering the crypto space, professionalizing the market [21][22] - Some firms are recommending allocations to Bitcoin, such as 5% of portfolios [24]