#TrumpTariffs Tariff Announcement Sparks Market Reaction

US President Donald Trump's announcement of a comprehensive tariff rate of 10% has sent shockwaves through the market, but not entirely in a negative way. Despite being lower than expected, the move has triggered a surge in risk assets.

The US dollar index (DXY) took a hit, dropping 50 points in the short term. Meanwhile, Bitcoin saw an astonishing rapid increase of over $1,500. Spot gold initially fell but later rebounded, showing the market's initial uncertainty. Nasdaq futures skyrocketed over 2% in after-hours trading.

Trump's tariff announcement is part of his efforts to address the national emergency posed by illegal aliens and drugs, including fentanyl, coming into the US from Canada, Mexico, and China. The tariffs aim to hold these countries accountable for halting illegal immigration and stopping the flow of poisonous drugs.

It's worth noting that Trump had previously threatened to impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China. The actual tariff rate announced, however, was lower than expected, which might have contributed to the market's positive reaction.