President Trump has announced new tariffs targeting imports from the European Union and Japan, with rates of 20% and 24% respectively. This move aims to bolster protectionist trade policies. The immediate impact has been a significant ripple effect across financial markets, resulting in declines across sectors such as U.S. tech and those focused on international trade. Investors are reacting to the uncertainty surrounding these tariffs by withdrawing capital from the cryptocurrency market, leading to a 25% decline in total market value. These new tariffs could escalate existing global trade tensions between the U.S., EU, and Japan, with potential countermeasures already brewing.