02.02.25 - Tariffs!

US President Donald Trump imposed a 25% tariff on Canada and Mexico and 10% tariff on imported goods from China with immediate effect.
Canada hits back putting a 25% tariff on imported goods from the US. Mexico announced to follow. China so far, will challenge Trump’s tariff at the World Trade Organization (WTO).

Markets: cryptos with major losses. Equity futures in US and China point to a decline.

My View: After last Monday with the DeepSeek event, another bumpy start on financial markets is expected. Hard to predict yet if the market is going to stabilize quickly. It depends on the conflict is shaking up and if investors see the potential that this is going to escalate.
The next event this year which will challenge the portfolio. As I highlighted in my recent comments, a bumpy way can be expected and a higher market volatility. Therefore, I did keep my position on long volatility (ETF), which should offer again some stabilization to my portfolio.
Depending on the market reaction, I will take action on short notice tomorrow early morning.

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