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Q2 Market Report - How Fundamentals Are Shaping FX, Gold & Global Indices
Trump's Presidency Faces Growing Doubts as Q2 Approaches

Market update
Trump Declares ‘Economic Independence’ with Sweeping Reciprocal Tariffs
On April 2, 2025, U.S. President Donald Trump unveiled a sweeping tariff package aimed at resetting America’s global trade relationships. In a speech from the White House Rose Garden, Trump announced that the U.S. will impose a baseline 10% tariff on virtually all imported goods, while targeting over 60 countries with reciprocal tariffs—customized rates designed to mirror the trade barriers those nations impose on the United States.