United States (US) President Donald Trump hit social media hard on Friday, noting through a series of posts that his plans to execute widespread tariffs on most of the US trading allies are back on the table as a means of addressing the US federal deficit. Without any changes to funding sources, the US' budget shortfall is expected to swell under President Trump's stewardship as his proposed tax cuts will cause the federal government's inflows to evaporate.

President Trump also voiced his desire to "end the trade deficit with Japan", which currently stands at $65 billion annually.

Key highlights Trump signs an order amending duties on de minimis imports from China.

I aim to bring down the deficit.

I want to end the trade deficit with Japan.

We do want to work on the deficit; get it down to even.

I haven't changed my mind on US Steel.

I will make an announcement next week on reciprocal trade.

Tariffs are an option to address deficit.

Tariffs on Japan are an option.

I will announce reciprocal tariffs next week on many countries.

I will discuss the Nippon deal with Ishiba.

Auto tariffs always on the table.

I will be meeting with Xi probably.

I will be talking to Putin.

The US looking for security of rare earths.

No rush on Gaza.

I will probably talk to Zelenskiy next week; I want to discuss security of their assets, like rare earths.

Deepseek is a good development.

https://www.fxstreet.com/news/us-president-donald-trump-i-will-announce-reciprocal-tariffs-next-week-on-many-countries-202502071736

“[I]ndustry analyst firm SemiAnalysis reports that the company behind DeepSeek incurred $1.6 billion in hardware costs and has a fleet of 50,000 Nvidia Hopper GPUs, a finding that undermines the idea that DeepSeek reinvented AI training and inference with dramatically lower investments than the leaders of the AI industry.”

I have no direct positions in NVIDIA but was hoping to buy a new GPU soon.

Bank of America says growth stocks are in a bubble exceeding the 'dot-com' and 'nifty fifty' eras — and warns they could take the S&P 500 down 40%.

Bank of America warns of a bubble in US growth stocks echoing the "Nifty Fifty" and "dot-com" eras.

• Concentration in US stocks is significantly above historical norms, BofA said.
• Investors should consider diversifying and focusing on quality stocks to mitigate risks, BofA said.

https://finance.yahoo.com/news/bank-america-says-growth-stocks-180002109.html

I’m sure we will hear more about this tomorrow, yikes. Be safe out there.

US to Hold Off on Colombia Tariffs, White House Says

The South American country’s government “agreed to all of President Trump’s terms, including the unrestricted acceptance of all illegal aliens from Colombia returned from the United States, including on U.S. military aircraft, without limitation or delay,” White House Press Secretary Karoline Leavitt said in a statement.

God Bless His Money Printer