We recently published a list of 15 Best Blue Chip Stocks to Buy According to Billionaires. In this article, we are going to take a look at where Amazon.com, Inc. (NASDAQ:AMZN) stands against other best blue chip stocks to buy according to billionaires.
The US stock market is showing volatility after President Donald Trump’s recent announcement of sweeping 10% tariffs on all US trading partners and higher tariffs on countries with a trade deficit with the US.
Economists and investors believe President Trump’s tariff policies could potentially lead to a trade war with America’s trading partners, propelling inflation even higher. These two factors could plunge the US into an economic slowdown, and the markets could potentially sell off quickly if a recession materializes among its looming threats.
On April 10, CNBC reported that stock prices rose sharply a day before after declining for four days straight following President Trump’s announcement of a pause in a significant part of his tariff plan. The White House said that Democratic lawmakers were indulged in partisan games by inquiring if any stock market purchases conducted in recent days were undertaken with prior knowledge of the fact that President Trump would authorize a pause in his tariff plans. Trump announced higher tariffs on China even after he announced a 90-day pause for steeper-than-baseline rates for several other countries.
READ ALSO: 10 Best Medical Stocks to Buy According to Billionaires and 10 Best Organic Food Stocks to Buy According to Billionaires.
On April 11, Erica York, economist and the vice president of federal tax policy at the Tax Foundation’s Center for Federal Tax Policy, talked to CNBC’s “The Exchange” about the ongoing scenario and said that the imposition of around 145% total tariff on Chinese goods would result in a suspension of most trade between the US and China. She said:
“It depends on how narrowly the tariff is applied or how broadly it’s applied, but generally, if you get north of a triple-digit tariff, you are cutting off most trade.”
She further opined that:
“There may still be some things without any substitutes that companies just have to foot the bill, but for the most part, that cuts it off.”
The economist said that Trump’s new China tariffs, along with the others he implemented, would raise the average tariff rate to record highs the country hasn’t seen since the 1940s. The current market volatility has created numerous remarkable investment opportunities, so let’s look at the 15 best blue chip stocks to buy according to billionaires.
