Trump Announces Reciprocal Tariffs, Markets React Swiftly

In a surprise Rose Garden announcement on Wednesday, U.S. President Donald Trump declared the immediate implementation of "reciprocal tariffs" aimed at correcting what he called decades of unfair trade practices. The executive order, set to take effect at midnight, marks a significant shift in U.S. trade policy.

"Our country and its taxpayers have been ripped off for more than 50 years, but it’s not going to happen anymore," Trump said during the ceremony. The first major tariff revealed was a 25% duty on all foreign-made automobiles, sparking instant reactions across global markets.

Country-specific tariffs include a 34% levy on Chinese imports, 46% on Vietnamese goods, 32% on Taiwanese exports, 25% on South Korean products, 20% for the European Union, and 31% for Swiss imports. These aggressive trade measures come amid growing global economic uncertainty and are expected to strain relations with key trading partners.

Financial markets responded sharply. Bitcoin (BTC) initially surged during the speech’s early moments but later dropped 1% to around $86,000 as tariff details emerged. U.S. stock index futures fell steeply, with the Nasdaq 100 down 2.3% and the S&P 500 falling 1.7%. In contrast, gold soared to near $3,200 per ounce, hitting a new record high as investors rushed to safe-haven assets.

This bold move reflects Trump’s continued focus on protectionist economic policies ahead of a contentious election season. With tariffs targeting major global exporters, analysts anticipate both market volatility and possible retaliation from affected nations. As the policy takes effect, traders, businesses, and crypto investors will be watching closely to assess the broader economic impact.