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Trump's reciprocal tariffs take effect. Canadian Prime Minister responds: Will retaliate!
① Canadian Prime Minister Carney stated that the Canadian government will retaliate against Trump's Autos tariffs and provide support for affected workers. ② New Brunswick Premier Susan Holt announced that the province plans to financially support the affected Industry, boycott USA companies, and has stopped purchasing USA Commodities.
Express News | In Overnight Trading, Tech Giants See Significant Declines, Tesla Drops 6%, Nvidia Down 5%. Crypto-Related stocks Fall
The U.S. Treasury Secretary 'shifts the blame': The sharp decline in the U.S. stock market is due to issues with the Mag 7, not the MAGA.
As tariffs are implemented and Post-Market Trading falls sharply, US Treasury Secretary Bessent once again defended Trump, stating that the Nasdaq Index peaked on the day DeepSeek was released, so this is a Mag 7 issue, not a MAGA issue.
Tariffs exceeded expectations, U.S. stock Futures plummeted, Apple fell sharply over 7% after hours, U.S. bonds rebounded, and Futures gold reached a new high five times.
Tesla initially fell over 6% but ended up rising over 5%. After Trump announced reciprocal tariffs, the yield on the ten-year U.S. Treasury bond first hit a daily high and then turned lower; Bitcoin surged past the 0.088 million mark before dropping over 3000 dollars. Crude Oil Product closed at a new high for over two months but turned down after Trump's announcement of tariffs.
Trump announced the implementation of "reciprocal tariff" measures, and several trade partners stated they would take countermeasures.
On April 2, the president of the USA, Trump, signed two executive orders announcing a 10% "minimum benchmark tariff" on all trade partners and imposed higher tariffs on several trade partners; The benchmark tariff rate will take effect at midnight on April 5, and reciprocal tariffs will take effect at midnight on April 9; Several trade partners have stated that they will take countermeasures, and the EU and Canada have already formulated counter plans.
Meta's Zuckerberg Lobbying President Trump to Escape Upcoming FTC Trial - WSJ
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