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Updated Apr 2, 2025, 8:29 p.m. UTCPublished Apr 2, 2025, 8:26 p.m. UTC
- President Trump will sign an order for “reciprocal tariffs” to begin at midnight.
- The first specific tariff announced is a 25% levy on all foreign made autos.
- Bitcoin is volatile, but currently up just modestly from its price prior to the announcement.
In a Rose Garden ceremony on Wednesday, President Trump said he intends to immediately sign an order for “reciprocal tariffs” to be levied against U.S. trading partners.
“Our country and its taxpayers have been ripped off for more than 50 years but it’s not going to happen anymore,” said Trump, adding that the tariffs will begin at midnight.
STORY CONTINUES BELOW
The first specific tariff announced at the ceremony was a 25% levy on all foreign-made autos.
The price of bitcoin (BTC) has been volatile as Trump speaks, but is currently trading at $87,300, up very modestly from its price prior to the ceremony.
Stephen is CoinDesk’s managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania’s Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
