menu_open Columnists
Jason Ma

Jason Ma

Fortune

We use cookies to provide some features and experiences in QOSHE

More information  .  Close

Trump threatens to add another 50% tariff on China—sending the total rate past 100%—unless it backs down from retaliation tomorrow

"Additionally, all talks with China concerning their requested meetings with us will be terminated!"

monday 2

Fortune

Jason Ma

Trump tariffs could climb even further—to the highest since 1872—before they ease again as a cycle of retaliation and escalation plays out

UBS said the effective US tariff rate could go as high as 30%, up from 25% under Trump's latest plans.

monday 10

Fortune

Jason Ma

CEOs had said they’d speak out against Trump if stocks sink 20%. After the latest meltdown, they’re still silent but may be ready to act 

Elon Musk said Saturday he hopes for a "zero-tariff" system between the US and Europe that would create "a free-trade zone."

06.04.2025 3

Fortune

Jason Ma

Treasury Secretary Scott Bessent downplays stock market crash as short-term reaction and says ‘everything is working very smoothly’

Bessent said "what I've been very impressed with is the market infrastructure, that we had record volume on Friday."

06.04.2025 7

Fortune

Jason Ma

Trump tariffs could help clear the way for bigger tax cuts as Congress eyes a potential revenue windfall — and a shrinking economy

Economists at Citi Research said in a note on Thursday that the aggressive tariffs "may now become a justification for larger tax cuts."

06.04.2025 10

Fortune

Jason Ma

Warren Buffett keeps taking investors to school as stock meltdown reveals the uncanny wisdom of his recent moves 

His decision last year to shed most of Berkshire Hathaway's Apple stock now looks especially well timed.

05.04.2025 10

Fortune

Jason Ma

Trump tariffs are weakening the dollar instead of boosting it—further adding to the price Americans will pay for costlier imports

So far this year, the US dollar index, which tracks the greenback against a basket of other global currencies, has tumbled 4.7%.

05.04.2025 10

Fortune

Jason Ma

White House officials are considering a higher tax rate for the wealthiest Americans to help pay for cutting taxes on tips, report says

Ending taxes on tips was one of President Donald Trump's top campaign pledges, and he has reaffirmed it since returning to the White House.

31.03.2025 2

Fortune

Jason Ma

EU will respond firmly to US tariffs but still open to ‘compromise,’ German chancellor says

"But if the US leaves us no choice, as with the tariffs on steel and aluminum, we will respond as a united European Union," Scholz said.

31.03.2025 7

Fortune

Jason Ma

Dow futures drop as report says White House mulls global tariff of up to 20% on nearly all trading partners

Over the weekend, reports said Trump has pushed his advisers to get more aggressive on tariffs, including higher rates on a wider set of nations.

31.03.2025 70

Fortune

Jason Ma

The world is asking what an American promise is worth now. The answer could determine the dollar’s future

A top economist and currency scholar said "the dollar’s global role will suffer if the US is perceived as turning its back on its allies."

30.03.2025 9

Fortune

Jason Ma

Soaring US debt may start to overwhelm America’s ‘exorbitant privilege’

Moody's added to the growing list of US debt warnings in a report that sounded the alarm on the deteriorating fiscal situation.

30.03.2025 10

Fortune

Jason Ma

Trump says auto tariffs are permanent and doesn’t care if they cause carmakers to hike prices — ‘I hope they raise their prices’

"I couldn’t care less. I hope they raise their prices, because if they do, people are gonna buy American-made cars. We have plenty," Trump said.

30.03.2025 200

Fortune

Jason Ma

Some US oil executives see disaster in Trump’s agenda while dismissing ‘drill, baby, drill’ as a ‘myth and populist rallying cry’

"Energy markets are not exempt from the loss of public faith in all markets," one executive said.

29.03.2025 4

Fortune

Jason Ma

Social Security employee warns ‘people could be out of benefits for months’ as staffers who fix payment glitches exit

"We will have cases that get stuck, and they’re not going to be able to get fixed."

29.03.2025 10

Fortune

Jason Ma

Trump seeks even more aggressive tariffs to fundamentally transform the US economy and eyes a single universal duty, report says

Intense discussions are ongoing ahead of April 2, which Trump has billed as "Liberation Day," when his next batch of tariffs will be unveiled.

29.03.2025 10

Fortune

Jason Ma

The IRS could collect $500 billion less in tax revenue, report says, and the U.S. may run out of cash in a few months without a debt-ceiling hike

An expected 10% revenue decline is due to changes in taxpayer behavior and President Donald Trump's cuts to the IRS, according to The Washington Post.

24.03.2025 7

Fortune

Jason Ma

The Cuban Missile Crisis has a lesson for today’s stock market as the next Trump tariffs could fuel a huge rebound, top Wall Street forecaster says

"There are increasing signs of that we've actually established a tradable bottom."

24.03.2025 8

Fortune

Jason Ma

The US now suffers from these 5 dead giveaways of an emerging-market economy in trouble, former IMF official says — ‘It pains me to say it’

"Worse, by dint of its size, America’s actions have a much greater impact on the world economy than those of any run-of-the-mill emerging market."

24.03.2025 60

Fortune

Jason Ma

Cathie Wood says the US is in a ‘rolling recession’ as money velocity collapses, but that will help unlock Fed rate cuts and lower taxes

The Ark Invest CEO also said she has been buying Tesla stock and crypto-related assets like Coinbase and Robinhood during the market's downturn.

23.03.2025 10

Fortune

Jason Ma

The F-47 stealth fighter will likely be the ‘most important defense decision’ of Trump’s entire term, retired Air Force general says

Trump said at the White House on Friday that Boeing beat out Lockheed Martin on an award that could eventually yield hundreds of billions of dollars.

23.03.2025 30

Fortune

Jason Ma

US debt could explode above 200% of GDP in two decades if Trump’s tax cuts become permanent, CBO says — putting it at unsustainable levels

"Macroeconomic feedback effects would further increase interest rates and, therefore, lead to even worse fiscal outcomes," the Peter G. Peterson...

22.03.2025 10

Fortune

Jason Ma

Since Elon Musk joined Trump’s White House, more Tesla owners are trading in their cars than ever before

Tesla trade-ins are being used to buy new BMW i4 EVs as well as the Hyundai Ioniq 5 and the Ford Mustang Mach-E, according to Edmunds data.

21.03.2025 8

Fortune

Jason Ma

Warren Buffett is investing more money in Japan amid the recent selloff in the U.S. stock market

Berkshire Hathaway increased its holdings in Japan's five biggest trading houses after agreeing to gradually lift its holdings beyond 10%.

17.03.2025 6

Fortune

Jason Ma

This US-based company warns revenue could suffer from ‘anti-American sentiment’ amid trade war backlash

A backlash against US products includes alcohol, electric vehicles, and even cutting-edge weapons.

17.03.2025 4

Fortune

Jason Ma

Wall Street’s recession odds are starting to look like a coin flip as Trump refuses to back down on his trade war 

"If we would continue down this road of what would be more disruptive, business-unfriendly policies, I think the risks on that recession front would...

16.03.2025 3

Fortune

Jason Ma

The backbone of the US economy flashes stagflation warnings as uncertainty spikes on tariffs and layoffs — ‘storm clouds are forming’

"Confidence that the economy will continue to grow is fading, even with a new management team in place."

16.03.2025 20

Fortune

Jason Ma

NATO countries are having second thoughts about buying America’s F-35 as the ‘predictability of our allies’ is doubted amid Trump’s seismic shifts

"There are several options that must be considered, particularly in the context of European production."

15.03.2025 3

Fortune

Jason Ma

DOGE’s $1 card freeze hits research on life-saving military gear, while genealogy to help identify soldiers’ remains gets exception

"The reality is that the Army has some tough decisions ahead—we must prioritize resources towards those functions which are most critical to...

11.03.2025 20

Fortune

Jason Ma

The Wall Street strategist who nailed the stock market’s recent mega-rallies sees a 10%-15% jump in the coming months

"I think it’s very possible that March, April, May could actually be one of these huge rally months where we’re rallying 10-15%."

10.03.2025 4

Fortune

Jason Ma

Can CEOs expect clarity soon on tariffs after recent whiplash? Trump says they could go up further — ‘It depends’

"We may go up. I don't think we'll go down, but we may go up," Trump said about tariffs.

10.03.2025 4

Fortune

Jason Ma

‘Nobody will trust a US treaty again,’ and Japan’s yen is now the new safe haven currency, strategist says

Trump warned on Thursday that the US won't defend NATO allies if they don't spend more on defense.

09.03.2025 4

Fortune

Jason Ma

Billionaire investor Mark Cuban warns ‘this is how recessions start’ as federal cuts ripple through the economy

"This is a bigger issue than people realize. Not just jobs lost. But their families losing benefits. Landlords losing tenants. Cities and towns losing...

09.03.2025 20

Fortune

Jason Ma

Social Security’s acting chief privately admits DOGE ‘will make mistakes’ as cuts delay processing of claims, report says

"DOGE people are learning and they will make mistakes, but we have to let them see what is going on at SSA."

08.03.2025 2

Fortune

Jason Ma

‘America First’ policies are threatening American exceptionalism as the economy and markets flash warning signs

"We are still betting on the resilience of consumers and the economy. However, Trump Turmoil 2.0 is significantly testing the resilience of both."

08.03.2025 30

Fortune

Jason Ma

Dow tumbles more than 600 points as Trump confirms aggressive tariff plans, killing hopes for a last-minute reprieve and sending stocks reeling

The Dow Jones Industrial Average tumbled 650 points, or 1.5%. The S&P 500 sank 1.8%, and the Nasdaq lost 2.6%.

04.03.2025 30

Fortune

Jason Ma

Social Security payments could suffer interruption soon as DOGE causes ‘system collapse,’ former commissioner warns — ‘start saving now’

"Ultimately, you’re going to see the system collapse and an interruption of benefits. I believe you will see that within the next 30 to 90 days."

03.03.2025 4

Fortune

Jason Ma

Even in deep-red Trump country, business conditions are quickly collapsing as tariff fears cross party lines 

"The uncertainty in tariff threats and general chaos of another Trump presidency is weighing heavy on our business."

02.03.2025 4

Fortune

Jason Ma

Foreign adversaries are seeking federal workers angry about Trump’s layoffs as potential intelligence sources, report says

The efforts include the creation of recruitment websites and aggressive outreach to federal employees on social media, according to CNN.

02.03.2025 9

Fortune

Jason Ma

Russia’s old economy is gone, and its wartime transformation has the military primed for a resurgence, former State Dept. official warns

"Even if hostilities were to cease immediately, Russia’s economic transformation is unlikely to be reversed."

02.03.2025 40

Fortune

Jason Ma

The US economy has suddenly been thrown into reverse as key GDP indicator flashes stunning negative forecast

The Atlanta Fed's GDP tracker now indicates the economy is headed for a 1.5% contraction in the first quarter, after showing 2.3% growth just days...

01.03.2025 10

Fortune

Jason Ma

After Trump-Zelensky blowup, Europe may be more willing to seize frozen Russian assets while EU official says ‘free world needs a new leader’

"Are the Europeans willing to stand up for themselves, for their principles, for their values, and for fellow Europeans? And I fear the answer is no."

01.03.2025 10

Fortune

Jason Ma

In leaked memo to Google’s AI workers, Sergey Brin says 60 hours a week is the ‘sweet spot’ and doing the bare minimum can demoralize peers 

"I think we have all the ingredients to win this race, but we are going to have to turbocharge our efforts."

28.02.2025 20

Fortune

Jason Ma

The fertility crash comes down to what men are doing—or not doing—Nobel laureate says 

“It won’t change unless the guy’s expectations about what he’s ‘supposed to do’ changes.”

24.02.2025 5

Fortune

Jason Ma

Repricing US gold reserves would be bullish for the market, signaling the precious metal is not a ‘barbarous relic,’ analyst says

If US gold reserves were priced at the current market rate, the value would top $750 billion.

24.02.2025 10

Fortune

Jason Ma

American troops pack more punch than European ones, and fighting Russia without the US would require adding more than 300,000, think tank says

"US troops would come in large, cohesive, corps-sized units with a unified command and control tighter even than NATO joint command."

23.02.2025 6

Fortune

Jason Ma

Trump tariffs promise chaos, but China’s Xi Jinping may be the biggest threat to the global economy, former Treasury official warns 

"When it comes to manufactured goods, trade with China is virtually a one-way street."

23.02.2025 30

Fortune

Jason Ma

This NATO ally will ‘buy, buy, buy’ more weapons as quickly as possible after intelligence report says Russia may start a war in Europe in a few years 

"This is particularly true if Russia assesses that the US cannot or will not support the European NATO countries in a war with Russia."

22.02.2025 9

Fortune

Jason Ma

Egg price inflation is so bad that some NYC stores are selling them ‘loosie’ cigarette style

Some New York bodegas began selling eggs in groups of three for $3.

22.02.2025 7

Fortune

Jason Ma

Russia’s ruble is soaring as Trump pushes for an end to the Ukraine war while Europe fears getting sidelined

The ruble has shot up 20% since the start of the year as investors have been expecting improved US-Russia ties under Trump.

17.02.2025 6

Fortune

Jason Ma