Markets respond to Trump's tariff announcement on first day in office

President-elect Donald Trump plans to impose a 25% tariff on goods from Mexico and Canada, and a 10% tariff on Chinese products starting on his first day in office. This announcement caused the U.S. dollar to rise, while Asian and European markets fell. The dollar increased by 1% against the Canadian dollar and 2% against the Mexican peso. In contrast, S&P 500 futures dropped by 0.3%. Market analysts expressed mixed reactions, with some viewing the tariffs as a negotiating tactic and others skeptical about their impact. The tariffs mark a significant shift in trade policy, with potential implications for U.S. relations with its neighbors and China. Market participants are closely monitoring the situation for further developments.