On April 2, 2025, President Trump announced a 10% tariff on nearly all imports, coming into effect on April 5, 2025. Canada and Mexico are exempt from the baseline tariff, but non-compliant goods face a 25% tariff.
Reciprocal tariffs targeting 60 nations, including a 34% tariff on China and a 46% tariff on Vietnam, will begin on April 9, 2025. The 25% tariff on foreign-made cars goes into effect immediately.
The announcement led to negative market sentiment, with Bitcoin briefly rising to 88,000 USD before stabilizing at 84,500 USD. S&P 500 futures dropped by 1.9%, and Nasdaq futures fell by 2.7%, reflecting investor concerns.
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