Trump Announces Reciprocal Tariffs in Rose Garden Ceremony
In a significant address delivered in the Rose Garden on Wednesday, President Trump declared his intention to immediately sign an executive order imposing “reciprocal tariffs” on U.S. trading partners. He asserted, “Our country and its taxpayers have been ripped off for more than 50 years, but it’s not going to happen anymore.” During the ceremony, Trump emphasized that these tariffs would take effect at midnight.
The first specific measure introduced was a hefty 25% tariff on all foreign-made automobiles, a move aimed at bolstering the domestic auto industry and addressing trade imbalances.
As the President spoke, the cryptocurrency market experienced notable volatility. The price of bitcoin (BTC) fluctuated during his remarks, but it currently stands at $87,300, reflecting a modest increase from its value just before the ceremony began.
