President Trump Announces 25% Tariff on Foreign-Made Autos
U.S. President Donald Trump announced plans for immediate "reciprocal tariffs" against U.S. trading partners during a Rose Garden ceremony.
- Tariffs aim to address perceived unfair trade practices over the past 50 years.
- First specific tariff is a 25% levy on all foreign-made autos.
- Country-specific tariffs include:
- China: 34%
- Vietnam: 46%
- Taiwan: 32%
- South Korea: 25%
- Switzerland: 31%
- Bitcoin (BTC) price initially rose but retreated to $86,000, down about 1% following the announcements.