Topline
President Donald Trump’s media company, Trump Media & Technology Group (TMTG), announced it is expanding its Truth Social platform and Truth+ TV streaming to Canada and Mexico, as Trump enacts global tariffs that experts warn makes it costlier for American companies to conduct international business.
CHICAGO, ILLINOIS – MARCH 25: In this photo illustration, President Donald Trump’s social media … More
Key Facts
Both the Truth+ mobile app and TV apps are now available to download in Canada and Mexico, the company announced Wednesday, with Trump Media CEO Devin Nunes saying “Truth Social and Truth+ are now fully open for business” in the two countries.
The expansion comes as Trump, who founded TMTG, implements steep tariffs on more than 60 countries, resulting in a global market sell-off.
Canada and Mexico were absent from the list of countries slapped with tariffs during Trump’s “Liberation Day” announcement a week ago, but that’s because he levied a 25% tariff in February on both U.S. neighbors for all goods not subject to the U.S.-Mexico-Canada trade agreement.
The Truth+ mobile app is now on app stores for iOS and Android devices, according to TMTG and the TV apps are available on Roku, Apple, Android and Amazon Fire TVs.
Trump Media also owns fintech platform Truth.Fi.
Forbes Valuation
Trump is worth an estimated $4.1 billion, according to Forbes’ real-time tracker, but his net worth has dropped more than $500 million since his tariff announcement. Trump Media, of which he has about a $2 billion stake, is the president’s biggest asset. Despite initially sliding significantly on the tariff news, TMTG was up 15% in Wednesday afternoon trading.
Big Number
44%. That’s how much TMTG’s stock has fallen so far this year. The S&P 500, which is tumbling toward a bear market, is down just 10% year to date.
Key Background
The Trump administration’s sweeping tariffs announced last week led to a global sell-off in stocks and bonds as well as economists and finance experts increasing recession odds. Trump formed TMTG in 2021 after he was kicked off most social media platforms following the Jan. 6, 2021 riot at the U.S. Capitol. Though Trump has since returned to X and Facebook, the president’s favored site is his own Truth Social, where he posts frequently about U.S. policy decisions. He used the platform Wednesday afternoon to announce a 90-day pause on tariffs for some countries in a post where he also said he’s raising the tariff on Chinese imports to the U.S. to 125%, “effective immediately.”
Further Reading
Will Trump Negotiate Tariffs? President Touts Talks With Other Countries—But Unclear How Long They’ll Take (Forbes)
Trump’s Net Worth Drops $500 Million As Tariffs Upend Global Economy (Forbes)
Here’s The Full List Of Trump’s Reciprocal Tariffs Announced Wednesday (Forbes)
