In a recent address from the Rose Garden, U.S. President Donald Trump announced intentions to sign an order for ‘reciprocal tariffs’ aimed at U.S. trading partners.

“Our country and its taxpayers have been ripped off for more than 50 years but it’s not going to happen anymore,” asserted Trump, pointing out that certain tariffs will be enacted starting at midnight.

Details on tariffs include a 25% tax on all foreign-made automobiles, with China facing a 34% levy and the European Union bearing a 20% charge.

As this news unfolded, Bitcoin experienced significant volatility, currently sitting at $86,000, marking a 1% drop ahead of the announcements.

Summary of Key Points:

• 25% tariffs on all foreign automobiles start on April 3.
• A 10% blanket tariff will begin on April 5.
• Specific tariffs: China (34%), Vietnam (46%), Taiwan (32%), South Korea (25%), EU (20%), and Switzerland (31%) starting April 9.

Following the announcement, U.S. stock futures fell sharply, with the Nasdaq 100 down by 2.3% and the S&P 500 down by 1.7%. Gold prices surged to just below $3,200 per ounce.