The Week in Numbers: Trump's Credit Card Demand, Saks Bankruptcy, and China's Trade Surplus

Trump's Credit Card Interest Rate Demand

• 🎯 President Donald Trump called for a 10% cap on credit card interest rates, urging compliance by January 20th.
• ⚠️ Legal and financial experts suggest this move would require new legislation from Congress to be enacted.
• 📉 The announcement led to a decline in stocks for several major finance companies during the week.

AI Chip Tariffs and Semiconductor Market

• ⚡ Trump imposed a 25% tariff on certain AI chips under a new national security order, citing reliance on foreign supply chains.
• 🚫 Products like Nvidia's H200 and rival AMD semiconductors were affected by this measure.
• 📈 Despite tariffs, TSMC reported a 35% jump in profits for the fourth quarter, driven by the AI boom.
• 💰 TSMC predicted continued strong growth and announced plans to invest $100 billion in US manufacturing capacity.

Saks Global Bankruptcy and Restructuring

• 📉 Luxury retail firm Saks Global filed for bankruptcy with $3.4 billion in debt.
• 🆘 The company secured $400 million in rescue financing approved by a US judge.
• 💸 The bankruptcy followed cash shortfalls after a merger with Neiman Marcus and struggles adapting to online consumer shifts post-pandemic.

China's Record Trade Surplus and Diversification

• 📊 China achieved a record trade surplus of $1.2 trillion last year.
• 🌍 Beijing successfully diversified trade away from the US, with significant growth in exports to Africa, Latin America, and Southeast Asia.
• 📈 This strategy helped China's economy navigate US tariffs and ongoing trade tensions with Washington.