Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Major Tariff Announcement: 25% on Imports from Mexico and Canada
The import from Mexico and Canada has faced a 25% tariff declared by President Donald Trump, set to start on February 1, 2025. They would include a vast array of products which are primarily automobile and agricultural fields since last year, the US imported about $87 billion in vehicles and $46 billion in agricultural products from Mexico. It means the cost will be passed down to the consumers by the retailer. People will pay 25 cents to 75 cents more per gallon of gas due to the tariffs on oil imports from Canada.
Consumer Costs and Economic Impact: What Tariffs Mean for Prices
Economically, the tariffs will shrink U.S. economic output by 0.4% and boost federal taxes by approximately $1.2 trillion during the next decade. The automobile industry relies on lower labor costs in Mexico for building automobiles. This can be costly for the manufacturing process.
Escalating Trade Tensions: Additional Tariffs on Chinese Goods
The other announcement has been a 10% tariff on Chinese imports, again echoing the growing trade tensions. His administration's strategies toward protectionism do seem to bolster American manufacturing but will result in higher prices for consumers and strained international relationships.
Retaliation from Colombia: Tariffs Linked to Immigration Policies
Trump did also implement a 25% tariff on imports coming from Colombia. It continued to worsen to 50% after a week, as the nation refused to let U.S. military flights over its airspace for deportation of undocumented migrants. In retaliation, Colombian President Gustavo Petro grounded U.S. deportation flights and insisted that the migrants be treated humanely. Eventually, however, the two reached an agreement: Colombia agreed to accept deportees without any conditions; in response, Trump decided to temporarily forego the tariffs. This episode reveals the growing tension between the United States with Latin America in the spheres of immigration and trade.
