I’ve got news that hasn’t gone down well with my crypto portfolio, or with my cousin and his PEA.
Donald Trump has struck again: a new 25% tariff on imported cars.
It’s starting to add up, isn’t it?
And apparently, this is only the beginning...
Make America great again
Trump promised to make the United States stronger.
And to do it, he’s willing to put pressure on the American economy, and everyone else’s.
Today, Wednesday 2 April, he’s due to speak on what he calls "Liberation Day".
Translation: more tariffs.
For now, China, Mexico and the European Union are directly in the firing line.
And according to the White House, there will be no exceptions.
But will it work?
Hard to say.
Personally, I think it’s too early to have a clear view.
In the short term, nobody’s happy, especially those of us hoping for a proper crypto bull run.
But perhaps his strategy will pay off for the United States in the long run.
What it means for Europeans
Things were looking fairly good in Europe in March.
Inflation eased slightly, to 2.2% from 2.3% in February.
Unemployment is down a little too.
The ECB meets on 17 April to decide whether to cut rates.
Until now, a cut seemed possible. But Trump’s announcements make everything less certain.
If import prices start rising again, inflation could pick up.
And in that case, the ECB could decide to leave things as they are.
Gold, the big winner
Plenty of people are worried right now. Gold holders aren’t among them.
The price is $3,124.94, up 17.93% in three months.
It’s been setting records for weeks.
Why?
Because gold doesn’t depend on rates or political announcements.
And when uncertainty grows, that’s often where the money goes.
To wrap up
There’s a lot to take into account, and I hope I won’t be repeating myself about Trump next week.
Some good news about ETH, with a photo of Vitalik like the one above, would honestly be much more pleasant to write about.
But between geopolitics and market uncertainty, we work with what we’ve got.
Photo credit: Nic Antaya/Getty Images