Trump's tariffs shake markets: dollar surges, stocks dive

Trump’s tariffs—25% on Canada/Mexico, 10% on China—sent the dollar soaring while stocks tumbled. The CAD hit its weakest since 2003, and the Mexican peso sank. Traders fear inflation and prolonged high US interest rates. Deutsche Bank warns the trade shock could be worse for Canada/Mexico than Brexit was for the UK. Auto stocks and EV makers are bracing for impact as markets anticipate China’s retaliation.