Evening digest: Trump tariff threat, PayPay IPO, Bitcoin near $70K

Global markets are navigating fresh geopolitical and financial crosscurrents as trade tensions, major tech funding talks, and crypto volatility capture investor attention.

The Trump administration has revived tariff investigations that could reshape global trade flows, while SoftBank-backed PayPay makes its Nasdaq debut with an $880 million IPO.

Bitcoin is holding near the key $70,000 level despite widespread selling pressure.

Meanwhile, AI startup Anthropic is exploring a massive $60 billion joint venture to secure the capital needed for the next wave of artificial intelligence expansion.

Trump is back with a tariff threat

The Trump administration has initiated new trade investigations, reviving tariff pressure after the Supreme Court struck down much of President Donald Trump’s earlier tariff program last month.

One Section 301 probe will examine excess industrial capacity across 16 trading partners, including China, the European Union, India, Japan, South Korea, and Mexico.

Moreover, the second investigation targets imports made with forced labor from more than 60 countries.

US Trade Representative Jamieson Greer said the excess-capacity case could lead to fresh tariffs by this summer, with public comments due by April 15 and a hearing expected around May 5.

The move is meant to restore US leverage in trade talks as officials prepare for meetings with Chinese counterparts in Paris.

PayPay IPO hits Nasdaq

SoftBank-backed PayPay priced its US IPO at $16 per share, the low end of its marketed range, raising about $880 million through 55 million American depositary receipts.

The digital payments giant, which dominates Japan's QR code wallet space with over 70 million users, will debut on Nasdaq under the ticker "PAYP" with a valuation of nearly $10.7 billion.

Pricing came in below the $17-$20 target amid Middle East tensions roiling markets, though demand exceeded supply fivefold.

SoftBank, which led the offering alongside Goldman Sachs and J.P. Morgan, retains majority control post-listing.

Bitcoin price holds near $70,000

Bitcoin traded around $69,834 on Thursday, down 0.53% or $374 from the prior close, despite intensifying selling across all wallet sizes.

On-chain data showed a surge in transfers out of wallets of every denomination, with small holders dumping hardest while whales trimmed positions too.

Price action stayed resilient near the $70,000 psychological level after dipping to $69,180 intraday, buoyed by strong spot volume over $52 billion.

Analysts pointed to profit-taking after last week's rally above $72,000, plus macro jitters from oil spikes and US trade probes.

Anthropic eyes $60B Joint Venture

Anthropic is reportedly in advanced talks to form a joint venture with private equity heavyweights.

Sources say the AI startup behind Claude is eyeing a deal that could value it at over $60 billion fully diluted, with PE firms like Thrive Capital and Lightspeed in the mix.

The structure would let Anthropic tap big capital without a full sale, keeping founders in control while funding massive compute needs.

Deal talks have heated up after Amazon's recent $8 billion investment, as rivals like OpenAI snag mega funding rounds.

No final terms yet, but an announcement could come soon if negotiations hold. Investors bet this hybrid model will dominate AI's next phase.