The call, which began at 8 a.m. Washington time, was the first direct exchange between the two leaders in three months.

Earlier this year, Washington threatened to shut TikTok down unless its U.S. operations are transferred from Chinese parent company ByteDance to American ownership. 

Congress set a deadline of January 2025, though Trump has so far avoided enforcing it. He has admitted that banning the app outright could trigger a backlash among its millions of American users.

“I like TikTok; it helped get me elected,” Trump said on Thursday. “TikTok has tremendous value. The United States has that value in its hand because we’re the ones that have to approve it.”

Beijing, however, must sign off on any deal before it moves forward. Sources familiar with the talks say U.S. investors would take over TikTok’s American assets, but ByteDance would continue supplying the algorithm that drives the app’s powerful content recommendations. This unsettles U.S. lawmakers who argue that algorithmic control is inseparable from political influence.

“The platform may be American-owned, but if the algorithm is Chinese, the risk remains,” warned Senator Mark Warner, chairman of the Senate Intelligence Committee.

Trade and technology disputes

The TikTok talks are unfolding against a bigger economic fight. Since returning to office, Trump has raised tariffs on Chinese goods, some to levels not seen in nearly a century. Beijing retaliated with its own restrictions, leaving both economies struggling. 

The U.S. is battling high inflation and a record trade deficit with China, while China’s growth slowed to 4.2% in the second quarter of 2025, its weakest pace since the pandemic.

Despite these pressures, Trump insists he is close to securing better terms with Beijing. “We’re pretty close to a deal,” he said on Thursday, hinting at an extension of current trade terms. Washington is pressing China to buy more U.S. soybeans and Boeing aircraft, while also demanding a crackdown on fentanyl-related chemical exports—an issue the U.S. blames for soaring overdose deaths.

TikTok as leverage

Analysts say Beijing is using TikTok as a bargaining chip while holding back exports of rare-earth materials vital for U.S. technology production. “China’s effective use of sticks (rare earths) and carrots (TikTok) has turned things heavily in their favour,” said Scott Kennedy of the Center for Strategic and International Studies.

Washington, in turn, has restricted China’s access to advanced semiconductor designs, jet engines and specialised chemicals.

Political stakes

For Trump, TikTok represents more than a trade issue. It is also a political tool. Banning the platform risks alienating young voters who use it daily. Allowing it to continue under a restructured deal, however, lets him claim a win on national security without losing a vital channel of communication.

Diplomats are already eyeing a possible face-to-face meeting between Trump and Xi at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea next month. Such a meeting could test whether personal diplomacy can ease one of the most fractious U.S.–China relationships in decades.

Liu Pengyu, spokesperson for the Chinese embassy in Washington, said: “Heads-of-state diplomacy plays an irreplaceable role in providing strategic guidance for China-U.S. relations.”

As a sign of goodwill, Beijing recently allowed Wells Fargo banker Chenyue Mao to leave China after months of travel restrictions. Yet even with gestures like this, the unresolved issues—Taiwan, the South China Sea, and competing economic interests—make it obvious that a single phone call will not erase the deep mistrust between Washington and Beijing.

It’s the third time the president has pushed the enforcement date, ignoring pressure from lawmakers and legal analysts who insist he lacks the authority to sidestep the law indefinitely. 

The Foreign Adversary Controlled Applications Act, passed in 2024 with bipartisan support, gave ByteDance until January 19, 2025, to either sell TikTok’s U.S. assets or shut down. The Supreme Court upheld the law earlier this year.

Trump, however, has repeatedly refused to act. First in January, then April, and now again in June, he’s granted delays, despite having signed the very law enforcing the sale. 

The latest extension moves the deadline to mid-September, with White House press secretary Karoline Leavitt confirming on Tuesday:

“President Trump will sign an additional executive order this week to keep TikTok up and running.”

She added, “President Trump does not want TikTok to go dark. The administration will spend the next three months making sure the sale closes so that Americans can keep using TikTok with the assurance that their data is safe and secure.”

But that “assurance” seems tied to far more than just national security as Trump has made no secret of the app’s value to his political base. TikTok’s influence on young voters during the 2024 election helped energise an important demographic for his campaign. 

Speaking in May, he candidly admitted, “TikTok helped me with young voters.”

Earlier this week aboard Air Force One, he told reporters that he planned to extend the deadline again, “Probably, yeah. Probably have to get China approval but I think we’ll get it. I think President Xi will ultimately approve it.”

A deal to spin off TikTok into a U.S.-based firm, majority-owned by American investors, was reportedly nearing completion earlier this year. But Trump’s abrupt imposition of up to 145% tariffs on Chinese imports in March soured negotiations. China signalled it would block the sale in response.

Now, Trump appears to be using the TikTok ban issue as leverage in ongoing trade discussions. He has implied he might reduce tariffs if Beijing agrees to approve the divestment. 

That makes TikTok not just a social media platform under investigation, but a bargaining chip in one of the world’s most volatile diplomatic relationships.

Democratic lawmakers argue Trump is undermining national security by stalling. Some insist the current offer on the table doesn’t meet the legal standard, and question whether Trump’s personal and political interests are clouding his judgment.

The administration, meanwhile, is caught between conflicting aims; appease China just enough to get the sale done, but not so much that it appears weak. All while keeping 170 million U.S. TikTok users happy.

Given the length of the campaign and the public nature of his platform, one would think that the market had plenty of time to prepare and price in the potential policy shifts well in advance.

However, it turned out that investors were caught off guard by the extent of the upheaval that ensued.

Indeed, the first 100 days of Donald Trump’s presidency were characterised by extreme volatility and uncertainty for the global financial markets.

In this article, Octa broker reviews Trump’s policies and analyses their consequences for the global financial markets.

Introduction

Donald Trump assumed office on 20 January 2025, and market volatility has been rising ever since.

Some of Trump’s initiatives, particularly his aggressive trade policies, have sent shockwaves through equities, currencies, and commodities, leaving retail forex traders scrambling to adjust.

Meanwhile, larger investors struggled to adapt to the rapid pace of proposed reforms and their far-reaching consequences.

Overall, the first 100 days of President Trump saw heightened risk aversion and widespread uncertainty, which resulted in sharp fluctuations in asset prices and currency exchange rates as traders reacted to every policy announcement, tweet, and speech from President Trump and his new administration. Below is a list of just a few of the notable days that shook the markets. 

Major currencies’ performance since Donald Trump took office

Image

Source: Octa

Major market-moving events

1). 20 January. The U.S. Dollar Index (DXY) dropped by more than 1.20% after news surfaced that the new administration will not immediately impose trade tariffs, prompting a rally in the currencies of some U.S. trading partners: notably, the Mexican peso (MXN), the Euro (EUR) and the Canadian dollar (CAD).

It should be noted that prior to the sharp decline, the greenback had been rising almost uninterruptedly since September 2024, almost reaching a three-year high ahead of Trump’s inauguration as the market assumed that higher tariffs would spur inflation, prompting the Federal Reserve (Fed) to pursue a more hawkish monetary policy.

2). 1–3 February. In the future, historians may label 1 February as the official start of a global trade war.

On this day, Donald Trump imposed a 25% tariff on imports from Canada and Mexico, along with an additional 10% tariff on China.

The market’s reaction was highly negative. U.S. stock futures slumped in early Asian trading on Monday, 3 February, with Nasdaq futures down 2.35% and S&P 500 futures 1.8% lower. U.S. oil prices jumped more than $2, while gasoline futures jumped more than 3%.

Meanwhile, the Canadian dollar and Mexican peso weakened substantially, with USDCAD surging past the 1.47900 mark, a 22-year high, and USDMXN touching a 3-year high as economists warned that both countries were at risk of recession once the tariffs kick in.

Later that day, Trump agreed to delay 25% tariffs on Canada and Mexico for a month after both countries agreed to take tougher measures to combat migration.

3). 3–5 March. This is when the market began to seriously worry about the health of the global economy and a risk-off sentiment became evident.

As fresh 25% tariffs on most imports from Mexico and Canada, along with the 20% tariffs on Chinese goods, were scheduled to take effect on 4 March, investors started to sell-off the greenback and flock into gold (XAUUSD) as well as into alternative safe-haven currencies, such as the Swiss franc (CHF) and the Japanese yen (JPY).

In just three trading sessions (from 3–5 March), DXY plunged by more than 3% while the gold price gained more than 2%.

4). 6 March. Donald Trump signed an executive order establishing a U.S. cryptocurrency reserve. However, it was unclear how exactly this reserve would work and just how much it would differ from Bitcoin holdings already in place.

Many crypto enthusiasts were disappointed, which triggered a five-day downturn in BTCUSD, culminating in Bitcoin briefly dipping below the crucial $80,000 level on 10 March.

5). 2 April. The trade war entered the next stage when Trump unveiled his long-promised ‘reciprocal’ tariffs strategy, essentially imposing import duties on more than a hundred countries.

The market route began with equity markets losing billions of dollars in valuation. S&P 500 lost more than 11% in just two days, while DXY dropped to a fresh six-month low.

6). 9–11 April. Trade war drama continued to unfold. Financial markets were stunned by President Trump’s abrupt reversal on tariffs.

Duties on trading partners, which had taken effect less than 24 hours prior, were largely rolled back as the President announced a 90-day freeze on the reciprocal tariffs. However, a 10% blanket tariff was still applied to most nations.

In contrast, the trade conflict with China escalated sharply. Following China’s 84% retaliatory tariff on U.S. goods, the U.S. increased tariffs on Chinese imports to 125%. This, combined with existing duties, brought the total U.S. tariff burden on Chinese imports to 145%.

Kar Yong Ang, a financial market analyst at Octa broker, comments:

‘I will remember that day for a long time. Traders were stunned by Trump’s sudden U-turn on trade policy and really struggled to make sense of it all. A knee-jerk reaction was to simply buy gold and ask questions later.‘

Apart from country-based tariffs, Trump also introduced additional import tariffs on aluminium and steel and ordered a probe into duties on copper imports.

Overall, his aggressive trade policies have fueled speculation about the global recession, which explains why gold has been one of the best-performing assets since Trump took office.

Kar Yong Ang comments: ‘We are dealing with a rather unusual situation. Even a global depression is not out of the question as tariffs may disrupt supply chains, hurting global output while also contributing to stronger inflationary pressure. This will certainly complicate monetary policy decisions. If I were to describe Trump’s first 100 days in just two words, it would be “run for safety”.’

Indeed, Trump’s recent public criticism of Jerome Powell, the Fed’s Chairman, added more fuel to the fire of nervous investor sentiment.

Overall, the full effect of Trump’s policies is yet to materialise, but the potential impact on global trade and the macroeconomy is substantial.

The IMF, citing escalating trade tensions, downgraded its 2025 global growth forecast to 2.8% and warned of potential stock market crashes and a 7% contraction in the world economy should trade wars persist.

Although Scott Bessent, the U.S. Treasury Secretary, hinted at de-escalating U.S.-China trade tensions, it is clear that investors should still get used to living in a period of heightened volatility and uncertainty.

Kar Yong Ang has this advice for an average retail trader: ‘Focus more on short-term trades with tight stop-losses as opposed to long-term position-trading, cut exposure to U.S. equities, diversify into gold and other safe-haven currencies like Swiss franc and most importantly, keep your mind clear and be ready to quickly switch from one position to another’.

Compliance reminder: trading Contracts for Difference (CFDs) carries a high level of risk and may not be suitable for all investors. Emotional trading can increase this risk. Always trade within your means and understand the risks involved.

Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

Since its foundation, Octa has won more than 100 awards, including the ‘Most Reliable Broker Global 2024’ award from Global Forex Awards and the ‘Best Mobile Trading Platform 2024’ award from Global Brand Magazine.

For others, it’s the perfect opportunity to re-strategize, diversify their investments, and potentially make big gains to achieve those big dreams.

Whatever the case, the crypto market holds lots of promises for the new year. Let’s look at some of the major milestones we could see from Bitcoin and the broader crypto market in 2025.

Bitcoin to Reach $250,000?

After reaching an all-time high price of over $108,000 in December 2024, many industry experts have Bitcoin price predictions between $200,000 and $250,000 by 2025. That’s at least double the highest price Bitcoin reached last year.

According to Tomisin Olatunji, a crypto analyst at Quidax, several factors will play significant roles in shaping the crypto landscape this year.

These include Donald Trump’s return to the White House, marking a potential shift in U.S. economic and regulatory policies, which could influence global markets, including cryptocurrency.

The anticipated approval of more crypto exchange-traded funds (ETFs) is also expected to drive mainstream adoption by providing easier access to digital assets for retail and institutional investors.

Stronger institutional interest in Bitcoin, fueled by its growing recognition as a hedge against inflation and a store of value, will further solidify its position in the financial ecosystem and contribute to market growth.

A New Altcoin Season

While Bitcoin did pretty well in 2024, altcoins also had a great year. Altcoins like XRP, Hedera (HBAR), and Stellar (XLM) outshined Bitcoin’s gains during the year. But some analysts have predicted that the real altcoin season is coming in 2025.

An altcoin season happens when the broader altcoin market increases and Bitcoin dominance reduces. The period often always follows a season of Bitcoin highs, then altcoin take over when the Bitcoin price falls.

They also believe AI and decentralized finance (DeFi)-related altcoins will lead the charge during the next altcoin season.

More Crypto ETFs

Following the approval of spot Bitcoin and spot Ether exchange-traded funds (ETFs) in 2024, more asset management companies have been pushing for the approval of more spot crypto ETFs.

According to Bloomberg, ETFs will be hot in 2025, and many ETF companies are competing with their filings pending approvals by the US Securities and Exchange Commission (SEC).

Some of the cryptocurrencies that could see their ETFs launched are Litecoin (LTC), Solana (SOL) and XRP. Some analysts say we may also see Bitcoin ETFs expand beyond the spot market as new ETFs with Bitcoin options will be created in 2025.

Friendlier Crypto Regulations

There was decent progress in terms of crypto regulations around the world in 2024. For instance, the Nigeria SEC paved the way for a potential broader crypto regulation in the country by issuing Quidax a provisional licence.

Similarly, South Africa approved 248 crypto asset service provider (CASP) licences in December 2024. Don’t forget that countries like El Salvador and the Central African Republic (CAR) already consider Bitcoin legal.

Looking ahead in 2025, many analysts believe that the crypto market will finally get the regulatory clarity it needs, starting from the US.

After appointing David Sacks as his crypto and artificial intelligence (AI) czar, Donald Trump said “He will work on a legal framework so the crypto industry has the clarity it has been asking for.” If he stays true to his words, we may be getting friendlier crypto regulations soon, especially since Trump and Sacks are pro-crypto. Olatunji believes this guarantees opportunities for Africa and Nigeria. “Crypto provides Nigerians with a unique opportunity to participate in the global economy,” he stated. “Crypto offers people an opportunity to make money, and as the market evolves and activities increase, we anticipate this momentum will positively impact the Nigerian economy, driving innovation, job creation, and financial inclusion.”

Strategic Bitcoin Reserves

There have been lots of conversations around a potential strategic Bitcoin reserve in the US this year. But it’s not only the American country that’s considering buying and storing Bitcoin in its government coffers.

Countries like Switzerland, Germany, Hong Kong, Russia, Brazil, and Poland are taking steps to explore storing Bitcoin as a strategic asset. If they pull it off, they’ll follow in the footsteps of countries like El Salvador, Finland, and Georgia, which already have decent chunks of Bitcoin reserves.

More Interest Rate Cuts

The US Federal Reserve introduced a 0.25% interest rate reduction in December 2024. At the time, it was the third consecutive interest rate cut. But there are reports of further rate reductions in 2025.

If these are anything to go by, the US Fed will likely reduce interest rates a couple more times down the year.

Countries like the UK are also likely to lower interest rates due to high inflation rates. Lower interest rates will cause more people to switch from regular financial products to riskier investment options like cryptocurrencies because of their potentially higher gains.

Final Thoughts

There’s a huge expectation for the crypto industry this year. Though the year has started off well with coin prices rediscovering bullish trends, there’s more to come as the year goes by.

As a trader or investor, you want to position yourself properly and be ready for the market’s major moves. May the markets move in your favour.

From policy implications to economic ties, Trump’s re-entry into the White House holds implications for global geopolitics, especially for Nigeria.

This article explores the Nigerian media’s portrayal of Trump’s return to power, the sentiment reflected in the coverage, and the critical role of continuous media monitoring and intelligence for policymakers, businesses, and global brands operating in Nigeria.

Nigerian media has been abuzz with discussions ranging from Trump’s controversial policies during his first term to speculations about what his leadership could mean for Africa.

During the inauguration, notable themes of economic revival and national pride were underscored, with Trump promising a “golden age“ for America.

(NPR.org) Yet, Nigerian outlets have cautiously emphasized the risks his leadership might pose to U.S.-Africa relations, focusing on issues like trade, immigration, and foreign aid.

Nigerian media monitoring and intelligence consultancy P+ Measurement Services have identified a few critical trends in Trump-related coverage within Nigeria:

1. Media Exposure Share: Analysis shows that 58% of the stories about Trump’s inauguration and its potential impact on Nigeria appeared in major print and online publications such as The Guardian Nigeria, daily.ng, and ThisDay.

Broadcast media accounted for 29% of coverage, while social media discussions made up the remaining 13%. This distribution underscores the importance of print and online platforms in shaping public perception and discourse.

2. Sentiment Analysis: Neutral to negative sentiments dominated the narrative, with 62% of analyzed articles adopting a cautious tone. Coverage focused on concerns over Trump’s history of unpredictable policies, trade wars, and his limited engagement with Africa during his previous term. Positive sentiment accounted for just 21%, largely emphasizing hopes for improved trade relations or potential policy shifts favouring Africa.

3. Earned Media Performance: Media intelligence from P+ Measurement Services highlights that Nigeria generated significant earned media exposure about Trump, with mentions of “Nigeria” in U.S. inauguration coverage up by 19% compared to Biden’s inauguration four years ago. However, much of this media engagement stemmed from concerns rather than optimism.

4. Reputation and Policy Context: Trump’s first presidency saw restrictions on immigration and limited engagement with African development initiatives.

Many Nigerian commentators fear his return could amplify these challenges, particularly around visas, trade agreements like AGOA, and strategic defense collaborations.

The results emphasize the necessity of continuous media monitoring and intelligence for three key stakeholder groups in Nigeria:

• Policymakers: Nigerian government officials must leverage near-real-time media analysis to understand policy shifts in Washington and how they impact Nigeria. With the U.S. being a major trading partner, monitoring Trump’s statements, speeches, and executive orders can provide early warnings about potential changes to tariffs, sanctions, or aid structures. Policymakers can use this data to craft timely responses and maintain Nigeria’s strategic positioning on the global stage.
• Corporate Brands in Nigeria: Companies engaged in sectors such as agriculture, oil and gas, and technology must monitor global economic trends sparked by Trump’s policies. For example, renewed energy dominance strategies by the U.S. may disrupt Nigeria’s crude oil exports. Similarly, stricter immigration laws could limit talent mobility for Nigerian tech firms with global ties.
• Global Brands Operating in Nigeria: Multinationals like Procter & Gamble, MTN Nigeria, and The Coca-Cola Company must consider how Trump’s “America First” policy could impact supply chains, investments, and partnerships. Continuous media sentiment tracking within Nigerian media offers these brands valuable insights into local consumer behaviour and reputation management in response to U.S. policy shifts.

As we look ahead, Trump’s policies and their global implications will continue to shape media narratives in Nigeria.

Nigerian stakeholders—across public and private sectors—must remain agile, leveraging insights derived from structured media intelligence to safeguard their interests and anticipate changes effectively.

*Philip Odiakose is a leader and advocate of PR measurement, evaluation and media monitoring in Nigeria. He is also the Chief Media Analyst at P+ Measurement Services, a member of AMEC, NIPR and AMCRON

Trump, who previously claimed that migrants were “poisoning the blood of our country,” made the pledge during a podcast interview with Silicon Valley tech investors on June 20.

He stated that anyone who graduates from a US college should have the opportunity to remain in the country.

During an appearance on the All-In Podcast hosted by Chamath Palihapitiya, Jason Calacanis, David Sacks, and David Friedberg, Trump said, “It’s so sad when we lose people from Harvard, MIT, the greatest schools, and lesser schools that are phenomenal schools also. I think you should get, automatically, as part of your diploma, a green card to be able to stay in this country, and that includes junior colleges, too.”

A green card allows individuals to live and work in the US permanently and provides a route to citizenship. Trump’s new proposal, which could result in hundreds of thousands of new citizenship applications annually, marks a significant shift from the strict immigration policies that helped him rise in the Republican Party.

Trump has also repeatedly criticized his Democratic opponent, President Joe Biden, for being too lenient on immigration.

At a campaign event in Wisconsin on Tuesday, Trump criticized a new program announced by Biden that allows undocumented spouses of US citizens to apply for permanent residency without leaving the country. “Our country is under invasion. We should not be talking amnesty; we should be talking about stopping the invasion instead,” Trump said.

Starting late on Friday, Musk asked his followers to cast votes on whether to reactivate the account of former US President Donald Trump on the social networking site. For a whole day, the poll was open.

Musk had discussed the possibility before taking over Twitter in a $44 billion deal that closed on Oct. 28.

The world’s richest man had said he would reverse the permanent ban” if the deal went through.”

“Permanent bans should be extremely rare and really reserved for accounts that are bots, or scam, spam accounts… I do think it was not correct to ban Donald Trump,” Musk said at the time.

“I think that was a mistake because it alienated a large part of the country and did not ultimately result in Donald Trump not having a voice.”

On the contrary, Trump said earlier this year that he would not return to the social media platform even if Musk reversed the ban.

Checks showed that Trump was yet to post anything on his account.