Trump’s 30% Tariff Threats Rattle Complacent Markets

Markets had grown accustomed to dismissing Trump's trade war rhetoric, but his latest escalation—threatening 30% tariffs on Japan, South Korea, Canada, Brazil, Algeria, and the EU—has reignited volatility concerns. JPMorgan Chase CEO Jamie Dimon and other Wall Street figures warn against underestimating the president's resolve, despite investors' bets on another retreat.

Annex Wealth Management's Brian Jacobsen cautions that these "punitive" tariffs may disproportionately harm EU economies, suggesting TRUMP could follow through. Mexico denounced the measures as sovereignty violations, while EU Commission President Ursula von der Leyen promised retaliation but left room for negotiation. The developments come as Trump cited persistent trade deficits in a Friday letter to Brussels.