In the early hours of April 3 (Vietnam time), U.S. President Donald Trump announced a 10% import tariff on all foreign goods, set to take effect on April 5. Some countries face even higher rates, including China at 34%, the EU at 20%, Vietnam at 46%, and Taiwan at 32%.
Markets React Sharply
Following the announcement, U.S. stock markets plummeted: the S&P 500 dropped 2.2%, while the Nasdaq-100 tumbled 3.3%. Gold prices surged to $3,160 per ounce, and WTI crude oil reached $71.7 per barrel. The U.S. dollar weakened, with the DXY index slipping 0.4%. Bitcoin dropped from $88,000 to the $82,000–$83,000 range.
Global Consequences
Countries may retaliate with their own tariffs, potentially escalating global trade tensions. Projections indicate that U.S. inflation could rise to 3.5% in 2025, while GDP growth may slow to just 1%. If the trade war intensifies, U.S. exports could take a significant hit, further destabilizing the global economy.
However, some analysts believe that in the long run, a weakening U.S. dollar due to trade tensions could create an opportunity for Bitcoin to strengthen its position as an alternative asset.
Leave a Reply