Trump called for high tariffs on Mexico, Canada, and China when he took office! The US dollar rose on the news, and TSMC stock fell.

US President-elect Trump announced recently that if he takes office, he will sign an executive order on the first day imposing high tariffs on imported goods from Mexico, Canada and China, which has led to a rapid strengthening of the US dollar, a general fall in non-US currencies, and a significant decline in the Taiwan Stock Exchange. (Previously: Wall Street enters the BTC loan market: Cantor, a Trump business company, provides billions of dollars in 'BTC mortgage loans', and his own son used to work for Tether) (Background: Encryption think tank warns that despite Trump's victory, these three US policies may still scare away Virtual Money investors) Early this morning (26th), US President-elect Trump issued a statement on social media 'Truth Social', stating that if he takes office, he will impose a 25% tariff on all imported goods from Mexico and Canada on the first day and an additional 10% tariff on imported goods from China. Trump emphasized that this move is a retaliatory measure against illegal immigration, cross-border crime, and drug issues. This news has quickly pushed the US dollar to a strong rise, with non-US currencies falling across the board, with the Canadian dollar and the Mexican peso seeing the biggest declines, the latter falling more than 1.2%. Influencing trade relations: Currently, Mexico, China, and Canada are the top three sources of imported goods to the United States. Statistics show that as of September this year, these three countries accounted for a total of 42% of the total value of US imported goods. Among them, Canada and Mexico account for nearly 80% of exports to the United States. Therefore, if the Trump administration implements the planned 25% tariff, it will have a significant impact on the economies of these two countries. In addition, Trump also plans to impose a 10% tariff on goods imported from China, which is a response to China's failure to fulfill its promise to prevent fentanyl from entering the United States. According to the New York Times, Trump has said during the campaign that tariffs on China could be as high as 60% or more, and plans to impose tariffs ranging from 10% to 20% on other countries. In 2022, Mexico, China, and Canada exported a total of US$830 billion to the United States, making them America's top three trading partners. Strong US dollar, Taiwan stocks fall: Taiwan's stock market closed at 22,678 points today (26th), down 269 points. TSMC's stock price closed at NT$1,010, a drop of 1.94%, or NT$20. The Taiwan Weighted Index opened at 22,789 points today, falling all the way and hitting a low of 22,700 points during the day, and finally closing at 22,678 points, down 269 points. Related reports: Wall Street enters the BTC loan market: Cantor, a Trump business company, provides billions of dollars in 'BTC mortgage loans', and his own son used to work for Tether Encryption think tank warns that despite Trump's victory, these three US policies may still scare away Virtual Money investors Trump nominated Benson to be the US Treasury Secretary. What is his position on Cryptocurrency? Does he support BTC reserves?