By coinnews 
00:00 Speaker A
Let’s get you through three things you need to know today. First up, President Trump announcing sweeping tariffs on all exports to the US at a level not seen in a century.
00:10 Donald Trump
This will be indeed the golden age of America. It’s coming back, we’re going to come back very strongly.
00:19 Speaker A
Trump announced Wednesday he will apply at least a 10% tariff on all exports to the US with even higher duties on some nations to counter large trade imbalances with the US that includes some of the country’s biggest trading partners like China which now faces a tariff of above 50% on many goods. China vowed to retaliate against the tariffs, urging the US to quote, immediately cancel the levies and resolve trade differences. Meanwhile, France is pushing for the European Union to hit US tech companies in response to the tariffs. For now, the new measures don’t include Canada and Mexico, which are embroiled in a separate on-and-off tariff dispute with the US.
00:52 Speaker B
And global stocks plunging amid the tariff announcement. US stock futures bearing the brunt of the selling this morning with Big Tech amongst the biggest laggards. Gold is off of its high, slightly down after hitting a record as investors seek safety. Meantime 10-year treasury yields dropping to the lowest level in more than five months. Also, oil futures sinking as the demand outlook weakens.
01:12 Speaker A
Plus, taking a look at the companies and sectors that could be most affected this morning. Apple is leading those big tech losses as its global supply chain is hit by these sweeping tariffs. Retailers taking a hit, Nike, Deckers, Lululemon, and more are selling off as their supply chains face high levies. And automakers selling off as tariffs on all car imports into the US going to effect today with additional tariffs on parts looming over the sector. Although imported cars and parts are exempt from the so-called reciprocal tariffs, car makers are already reeling from Trump’s escalating trade war.