Markets React as Trump Announces New Tariff Plans

The US dollar rose after Donald Trump announced plans to impose additional tariffs on imports from Canada, Mexico, and China, causing concerns over his trade policies. The dollar index increased by 0.4%, while the Mexican peso and Canadian dollar fell. European and Asian stock markets also reacted negatively, with major indices dropping. However, Chinese markets showed some relief as the proposed tariffs were smaller than expected. The announcement followed a market-friendly nomination of Scott Bessent as Treasury secretary, which had initially eased tariff concerns.