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🔋🇨🇳 EU Presses China on Rare Earths Amid Rising Trade Tensions Brussels will push Beijing for better access to critical minerals at a July 24 summit, citing production risks. China delays export licences as tariff disputes escalate over EVs, brandy, and pork.

RT @Cernovich: The so-called “pork” seems like small potatoes now doesn’t it?

Pro-XRP lawyer John Deaton has suggested Elon Musk and Tesla may purchase additional Bitcoin following the Tesla CEO’s harsh criticism of the recent Congressional spending bill. Deaton’s prediction comes as Musk launched a scathing attack on what he termed a “pork-filled” legislative package. “Wouldn’t be surprised to see Elon and Tesla buy more Bitcoin . The Big Beautiful Bill is a walking billboard and advertisement for buying Bitcoin,” Deaton posted on X, directly replying to Musk’s criticism of the FY2025 budget. Musk’s frustration was evident in his social media response: “I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.” The spending bill includes H.Con.Res.14 and H.R. 1968, totaling $1.6 trillion in discretionary spending, with $895 billion allocated to defense and $711 billion to non-defense programs. Critics, like Musk, argue that the legislation contains wasteful spending on specific regional projects and industry subsidies. Related: Is Bitcoin Ready for a June Shake-Up? Fed Moves and Inflation Data Set the Stage Musk expanded his criticism by highlighting the fiscal implications of continued deficit spending. In a follow-up post, he warned that interest payments already consume 25% of all government revenue, creating an unsustainable trajectory. “If the massive deficit spending continues, there will only be money for interest payments and nothing else! No social security, no medical, no defense … nothing,” Musk stated . He emphasized the long-term consequences of current fiscal policies. This concern about debt service costs aligns with growing worries among fiscal conservatives about the sustainability of current spending levels. With interest rates still high, a growing share of government expenditures is being used to cover interest payments on the national debt. Coinbase CEO Brian Armstrong joined the conversation by linking fiscal irresponsibility to Bitcoin’s potential as an alternative reserve currency. Armstrong warned that unchecked deficit spending could accelerate Bitcoin’s adoption as a global monetary standard. Armstrong’s comments highlight the tension between cryptocurrency advocates who see Bitcoin as a hedge against fiscal mismanagement and those who prefer maintaining dollar dominance through responsible government spending. The Coinbase CEO’s perspective suggests that while Bitcoin’s rise could benefit from fiscal instability, a strong American economy remains crucial for global stability. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

HOW LONG TO MARS? NOT EXACTLY A QUICK ROAD TRIP Getting to Mars takes more than a fast rocket and a packed lunch. A one-way trip usually takes nine months, but a round trip can stretch to 3 years. Earth and Mars do not stay put. Their distance swings from about 34 million miles to 250 million miles as they orbit the sun. NASA’s Parker Solar Probe can zoom at over 400,000 miles per hour, so if you could catch a ride, you might reach Mars in just 3 days. Sounds exciting, but right now that’s only for tiny robotic probes, not humans. The real challenge is aiming at a moving target. Scientists use “pork chop plots” to figure out the best time to launch so the planets line up perfectly. That chance only comes every 26 months. Even with the best plans, space missions to Mars still take around 9 months. Scientists dream of using lasers to speed things up, but for now, anyone heading to Mars has to be patient and ready for a long journey. So next time you grumble about a boring bus ride, imagine 9 months stuck in a spaceship! Source: Space

China has announced additional tariffs on Canadian imports, escalating a trade dispute. This move comes as a response to earlier Canadian tariffs on Chinese goods. The tariffs, set to take effect on March 20, 2025, will target Canadian products, including a 100% tariff on rapeseed oil, oil cakes, and peas, and a 25% tariff on aquatic products and pork. The growing trade dispute between China and Canada unfolded after Canada imposed tariffs on Chinese goods that were aimed at China’s trade practices. In retaliation, China has shifted its focus to Canadian exports. This new wave of tariffs follows a pattern of rising global trade tensions. Similarly, the United States has also expanded its trade war to include the European Union, Mexico, Canada, and South Korea. US actions have been prompted by concerns over national security related to imports and attempts to address what it sees as unfair trade practices. Related: Trump and Trudeau in Talks: Will Tariffs Be Lifted Today? Global Impact on Trade and Economy: The impact of these tariffs is already evident in global markets. As countries like China and the US continue to enforce tariffs and non-tariff barriers, global trade flows have slowed, and stock markets have experienced volatility. Companies, particularly in the manufacturing sector, have faced rising costs, while producers and suppliers have been forced to look for alternative markets to minimize the impacts of tariffs. Interestingly, despite this trade chaos, certain sectors have experienced unexpected shifts. Notably, the crypto market saw a slight uptick in interest, potentially tied to discussions surrounding the US government’s proposal for a national crypto reserve. Under President Trump’s leadership, the United States has announced plans for reciprocal tariffs aimed at nearly all US trade members. Expected to be released on April 2, 2025, these tariffs will address what the White House considers unfair trade policies from countries like the European Union, Canada, and South Korea. Related: China vs. Trump Tariffs: Global Markets Shaken, Crypto Beckons However, Peter Navarro, a senior trade adviser, confirmed that inverse tariffs are certain , with the aim of reshaping the relationship between the US and its global trade partners. While the full scope of these tariffs is still unclear, their likely impact could be far-reaching, especially for US companies that depend on international trade. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.