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High Drama and Big Impact: Trump’s Bold Tariff Plans and What to Expect

Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin
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Canva to Acquire AI Startup Leonardo.ai in Bid to Challenge Adobe

Canva Inc is set to acquire image generation startup Leonardo.ai, marking its second acquisition this year as it aims to compete with creative software leader Adobe Inc.

This deal will allow Canva to integrate Leonardo.ai’s video and image generation models into its own products. The acquisition, finalized in about a month, is Canva’s fastest to date, according to co-founder Cameron Adams. This follows Canva's recent acquisition of the Affinity suite of software, popular with Apple Inc Mac users.

Leonardo.ai, founded in 2022 and backed by Canva investor Blackbird Ventures, raised $31 million last year. Its 120-person team develops software that helps users generate and edit images online using text prompts. Over the past 18 months, users have created over a billion images on its platform.

Canva, valued at $26 billion this year, is expanding its AI tools to attract Adobe’s enterprise customers and boost revenue growth. Canva’s recent acquisitions include visual AI startup Kaleido.ai and image providers Pexels and Pixabay.

Founded a decade ago by Cameron Adams, Cliff Obrecht, and Melanie Perkins, Canva has grown into a major competitor to Adobe. Despite Adobe’s addition of AI features, its shares have dropped over 10% this year after a $20 billion deal to acquire Figma fell through.

Canva has long been viewed as a potential candidate for going public but has not disclosed any concrete plans. The company recently completed a $2.5 billion secondary share sale, according to COO Obrecht.

Key Takeaways:

  • Canva acquires Leonardo.ai to enhance its AI capabilities.
  • The deal was finalized in about a month, Canva’s quickest acquisition yet.
  • Leonardo.ai’s team of 120 focuses on AI image and video generation.
  • Canva aims to attract Adobe’s enterprise customers with new AI tools.
  • Canva has acquired eight companies, including Affinity and Kaleido.ai.
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