President Donald Trump’s recent new tariff announcements have affected everything from traditional stocks to digital assets, causing a ripple of global markets. On April 2, 2025, Trump announced a wide range of tariffs between his 45-minute address from the White House. The tariffs include a 10% baseline for all goods imported into the US, with some countries seeing a 34% increase in China, 20% in the European Union, and countries like Japan and Vietnam seeing similar increases. Trump also imposed a 25% tariff on automobile imports.
The impact on the global market was immediate. The S&P 500 lost more than $2 trillion in market capitalization within 15 minutes of its announcement. The Nasdaq fell 5.1%, but the Dow Jones industrial average fell close to the corrections area, down nearly 10% from the December high. In Europe, major stock indexes also hit. Germany’s DAX index lost 1.8%, while companies like Adidas, Puma and Pandora lost 10% in value. Large US tech companies, including Apple, Nvidia, Tesla and Amazon, also fell sharply between 2.5% and 6%.
Meanwhile, the cryptocurrency market felt the impact of the tariff announcement. Bitcoin fell 5.8% to $81,732. Solana fell in 13 months after reaching $293 in January, reaching a 13-month low. Dogecoin lost 10% of its value and XRP fell by 7.4%. As a result, investors began to flock to the ridiculous things in search of safer alternatives.
The global response to Trump’s protectionist policies was quick. China has condemned tariffs and has pledged to retaliate with measures. European Commission Chairman Ursula von der Leyen called the tariffs a “serious blow” on the global economy, but while Britain faces 10% tariffs, he emphasized diplomacy, but they have not ruled out other actions to protect their interests. China’s new tariff rate, including a total tariff of 54%, has caused particular concern, and China has labeled the measure as a violation of international trade rules.
Experts warn that economic fallouts can have long-term consequences. Fitch Rating Orsonora described tariffs as “a fundamental change” that could lead to a global economic downturn. Bitget Research’s Ryan Lee added that tariffs have prompted massive sales in digital currencies, bringing Ethereum and Solana down 6%. As the market remains unstable, attention is focused on how the country responds and whether these tariffs will cause wider trade disputes.