Overview

• President Trump unveiled tariffs with a 10% baseline on all imports and higher rates for China (34%), the EU (20%), and Japan (24%).
• A 25% tariff on auto-related imports, including cars, trucks, and parts, was also announced as part of the measures.
• Markets reacted negatively, with Dow futures falling over 1,000 points, S&P 500 futures dropping 3.9%, and Nasdaq-100 futures tumbling 4.7%.
• Gold prices surged as investors sought safe-haven assets, while the U.S. dollar weakened against major currencies.
• Economists warn the tariffs could raise costs for businesses, reduce consumer spending, and heighten recession risks in an already fragile global economy.