To The Moon

Trump's Comprehensive Tariffs on All Countries Officially Take Effect

🇺🇸 S&P 500 Index: 0.68% 📈

🇺🇸 Nasdaq Index: 0.87% 📈

🇪🇺 Stoxx 600 Index: -0.48% 📉

🇯🇵 Nikkei 225 Index: 0.28% 📈

🇭🇰 Hang Seng Index: -0.02% 📉

🇨🇳 CSI 300 Index: -0.08% 📉

🇸🇬 Straits Times Index: -0.35% 📉

- U.S. stock market rises, with the S&P 500 and Nasdaq Composite climbing 0.7% and 0.9%, respectively, rebounding briefly after volatile trading. Market optimism has increased in anticipation of reciprocal tariff relief ahead of Trump's comprehensive tariff announcement.

- U.S. ADP nonfarm employment data shows that private businesses added 155,000 jobs in March, a significant increase from February's revised 84,000 and exceeding the Dow Jones consensus estimate of 118,000. Annual wages rose by 4.6% year-over-year, while job-switchers saw a 6.5% increase, narrowing the gap and indicating a decline in labor mobility for those willing to switch jobs.

- The Asia-Pacific markets were mostly flat, with the Hang Seng Index barely changing and the CSI 300 Index slipping -0.1%. Investors are risk-averse ahead of Trump's upcoming tariff announcements, opting for caution amid rising volatility. Sectors such as EVs, biotechnology, and commodity exports led the decline.

💡 Upcoming Events: 💡

Thursday: The U.S. will release initial jobless claims and ISM Services PMI, while China will publish Caixin Services PMI.

Friday: The U.S. will release nonfarm payrolls, unemployment rate, and average hourly earnings, followed by a speech from Fed Chair Jerome Powell. Meanwhile, Japan will publish monthly and yearly household spending data.

💡 Key Developments Today: 💡

1. The U.S. will impose at least a 10% tariff on all exporting countries, with additional tariffs on about 60 countries with the largest trade deficits with the U.S., including China (at least 54% on multiple products), the EU, and Vietnam.

Trump Tariff

2. This new round of reciprocal tariffs will take effect this weekend, and from April 9, tariffs will be further increased, including China (34%), the EU (20%), Vietnam (46%), Taiwan (32%), and Malaysia (24%).

3. Trump signs an executive order closing the "de minimis" trade loophole, imposing a 30% tariff or a fixed $25 tax per item on imports valued under $800, with plans to raise the per-item tax to $50 after June. The order takes effect on May 2 as part of Trump's broader tariff measures against global trade partners.

4. Amazon $Amazon.com(AMZN)$   submits a last-minute bid to acquire TikTok, joining mobile tech firm AppLovin in the competition. Reports suggest the proposal was submitted this week to Vice President JD Vance and Commerce Secretary Howard Lutnick, but it is not being taken seriously as the U.S. ban is only days away.

Amazon might acquire Tiktok

5. Alibaba Group $Alibaba(09988)$  $Alibaba(BABA)$   plans to launch the next generation of its flagship large language model (LLM), Qwen3, in the coming weeks to strengthen its position in the open-source AI sector. Insiders say Alibaba Cloud is set to unveil Qwen3 later this month.

Alibaba Qwen 3

✅ Key Takeaways:

Amid tariff concerns, S&P 500 futures have plunged over -3.5%, Nasdaq 100 futures have fallen 4.5%, and U.S. Treasury futures have surged as investors flock to safe-haven assets. Gold is nearing historic highs, while the Japanese yen has strengthened due to capital inflows. Investors are pulling money out of tech and cyclical stocks.

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