What’s going on here?

The US president announced new tariffs on metal imports while flying to the Super Bowl, making room for paperwork on a table presumably full of buffalo wings and queso dip.

What does this mean?

The new tariffs are a 25% levy on every ounce of steel and aluminum imported into the country, no delays and no exceptions. That’ll apply to a ton – low-effort pun intended – of metal: the US imported over 80% of its aluminum last year, mostly from Canada, Mexico, and the United Arab Emirates. On the plus side, it might bolster domestic metal production. But with higher prices almost certain to trickle down supply chains, everyday Americans could end up footing part of the bill.

Why should I care?

For markets: You can bet your bottom dollar, at last.

Tariffs and trade disputes are causing ripples in currency markets, creating potential trading opportunities after a long period of stability. For years after the global financial crisis, central banks kept interest rates – which influence a country’s currency – nailed to the floor. That reduced volatility and left foreign exchange traders with little to play with. But now, there’s geopolitical drama – along with global central banks adjusting interest rates again, in different directions too. To take advantage, you could consider adding currencies to your portfolio and potentially benefit from opportunities less linked to stocks and bonds.

The bigger picture: When all else fails… at least there’s jewelry.

The latest of many tariff headlines, this news has many investors worried about the prospect of all-out trade wars. That, at a time when geopolitical relationships are already tense, US government debt is touching the ceiling, and stock market valuations look unsustainably high. So you can’t blame them for seeking something reliable. Enticed by gold’s proven ability to hold its value in most hostile environments, investors pushed the precious metal’s price up to an all-time high of $2,895.

What’s going on here?

France announced a hundred-billion-euro investment in AI at the Artificial Intelligence Action Summit this weekend, paying the price to compete with the other red, white, and blue.

What does this mean?

The US cemented itself as the home of AI just last month by announcing the Stargate Project: a fund designed to invest $500 billion into the tech over the next four years. But France seems determined to steal a slice of that reputation. The country’s now revealed its own plan to invest €109 billion ($113 billion) into the AI sector. Still light on the details, the French president said that Brookfield Asset Management will contribute some $20 billion while major European firms Iliad, Orange, and Thales will pitch in, too. Plus, a fund backed by the United Arab Emirates will pump up to $51 billion into a massive new data center campus – expected to be the biggest in Europe.

Why should I care?

For markets: Brookfield’s sponsoring the French tech revolution.

Brookfield is one of Canada’s biggest alternative investors, with fingers in pies across real estate, infrastructure, and private equity. That expertise should come in handy: the firm plans to spend $15 billion on first building data centers in France and then tripling their capacity. The rest of the cash, some $5 billion, is earmarked for wider infrastructure – everything from data transfer to chip storage and energy generation.

The bigger picture: The best defense is a good offense.

Mistral and Helsing, two of Europe’s most valuable startups, announced a collaboration of their own at the Summit. They’re building AI warfare technologies, expected to help defense systems better analyze environments, communicate with operators, and make fast, complex decisions. Tech firms used to tiptoe around this area, but it seems the opportunity’s too lucrative to pass up. OpenAI partnered with defense firm Anduril in December – and just last week, Google quietly erased its AI ethics rule against working on weapons.