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#Recent Portfolio Insights #Market Analysis After Tariff Policy #Top Buy-the-Dip Picks Bitcoin and Crypto under the pressure of customs duties! This is what you need to know before the market opens tomorrow!
New events have occurred related to the customs duties that the United States has announced it will apply to almost the entire world.
According to White House economic advisor Kevin Hassett, more than 50 countries have reached out to the U.S. for negotiations following President Donald Trump's announcement this week of new comprehensive tariffs.
A 10% "base" customs duty has come into effect on most goods imported from the USA, leading to a swift reaction worldwide. Some countries hint that they will take countermeasures, while countries like Indonesia and Taiwan have signaled their desire to avoid escalating trade tensions by announcing that they will not impose retaliatory tariffs.
It is reported that the Prime Minister of the State of Israel, Benjamin Netanyahu, has gone to Washington for direct trade negotiations with Trump, while the Prime Minister of the United Kingdom, Keir Starmer, painted a grim picture in his speech in Parliament: "The world we knew is gone," said Starmer, adding that the British government is ready to take measures to protect the national economy from potential consequences.
Economists warn that tariffs could lead to rising prices for American consumers and disruptions in supply chains. Following the announcement, there were fluctuations in the markets, while Trump addressed the nation via social media. On Saturday, while playing golf in Florida, the president said: "Hang in there, this is an economic revolution. It won't be easy, but the outcome will be historic."
At the same time, a few hours after the introduction of customs duties, speaking before an Italian audience, Elon Musk expressed hope for a "tariff-free situation" between the US and Europe in the future. The CEO of Tesla and SpaceX, who provides unofficial advice to Trump on trade and innovation, noted that a more free trading environment remains an ideal goal in the long term.
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