02.04.25 - Roll-out of tariffs

Today, US President Donald Trump will announce new tariffs. He is calling it “Liberation Day,” saying it is a big move to protect American jobs and businesses.
These new tariffs are reciprocal, which means the US will now charge other countries the same taxes they charge American products. For example, if Europe taxes American-made goods at 20%, the US will now tax European goods at 20% too.
A 25% tax on all imported cars and car parts, was already announced and will start tomorrow.

Markets: After the rebound yesterday, stock markets continue to lose ground today, interest rates down.

My view: I was surprised by the recent rebound. Overall, the stock market seems a bit too relaxed about the tariff announcement. The big question remains: how significant will the tariffs be, and how will other countries respond?

For now, I am staying on the sidelines with new investments until there is more clarity on the situation.

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