The post Trump lays out his reciprocal tariffs on all countries, as stocks remain spooked appeared on BitcoinEthereumNews.com.

Was it an Oscar’s ceremony, or was it a tariff announcement? In a long, and varied speech in the White House’s rose garden, President Trump announced his reciprocal tariff rates. The baseline tariff rate is 10%, with rates varying for each country depending on how they levy tariffs on US imports. The UK has come off unscathed, with tariffs set at 10%, along with Brazil, Australia and Sadi Arabia. EU exports to the US are subject to double the UK’s rate at 20%, and Mexico and Canada have avoided further tariffs. No exemptions allowed Asian nations have been hit the hardest, with Vietnam subject to a 46% rate, and Cambodia at 49%. There has been whipsaw price action in the aftermath of Trump’s announcement. There were no carve outs or exemptions either for individual countries or for certain sectors, which spooked traders. In post-market trading, tech, autos, and materials sectors are lower, as expected. Nvidia takes another knock Nvidia has been hit hard. After initially rallying by 2%, it is currently down by nearly 5%, after Taiwan was subject to a 32% tariff rate.  Asia ex Japan and China has been hit hardest by  these tariffs, whereas the UK is definitely getting  ‘tariff light’ treatment from the President. This is reflected in the pound, GBP/USD shot up above $1.30 at one point, although it has since backed away from this level. US Treasury yields may have found a low, as inflation fears mount Although the baseline tariff rate is lower than expected at 10%, the variance in reciprocal rates is concerning for markets. The 10-year US Treasury yield has dropped by 10 bps and is currently at 4.11%. The worst-case scenario for tariffs could have pushed 10-year yields below 4%, as investors rushed for safety. However, a mixture of higher-than-expected…

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Filed under: News - @ April 2, 2025 10:25 pm