Dow Jones Futures Rise Ahead of Big Tariffs; Bitcoin Soars On Trump Plan

The Dow Jones Industrial Average (DJIA) futures rose on Monday, ahead of President Donald Trump's planned tariffs on Mexico and Canada, while Bitcoin soared on news of Trump's plan to create a national crypto reserve. The DJIA futures gained 100 points, or 0.3%, to 33,950, as investors awaited the tariffs' impact on the U.S. economy and markets.

Trump announced on Sunday that he would impose a 25% tariff on all goods imported from Mexico, effective Tuesday, and a 10% tariff on Chinese goods. The tariffs on Mexico and Canada were in response to the countries' refusal to accept U.S. demands for increased border security and immigration enforcement. The tariffs on China were part of an ongoing trade dispute between the two countries.

The news of the tariffs sent shockwaves through global markets, with stocks tumbling and the Mexican peso and Canadian dollar falling sharply. However, the DJIA futures' rise on Monday suggested that investors were optimistic that the tariffs would be temporary or that a deal could be reached to avoid them.



Meanwhile, Bitcoin prices surged on Sunday after Trump announced his plan to create a national crypto reserve. In a post on Truth Social, Trump said he would direct his administration to "move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA." He later added that the reserve would "obviously" include Bitcoin and Ethereum as well.

The news sent Bitcoin prices soaring more than 10% from around the time of Trump's announcement to more than $94,000 early Sunday afternoon. Ethereum prices also surged, gaining more than 13% from before the announcement to briefly top $2,500 in the early afternoon. Prices for the smaller market cap coins Trump mentioned—XRP, ADA, and SOL—all spiked at least 20% shortly after Trump's announcement.

The surge in Bitcoin prices came as a relief to investors who had been watching the cryptocurrency's value fluctuate in recent weeks. Bitcoin had been trading in a tight range, with prices hovering around $90,000, as investors awaited clarity on the U.S. government's stance on cryptocurrencies.

Trump's announcement of a national crypto reserve was seen as a positive sign for the cryptocurrency industry, as it suggested that the U.S. government was taking a more favorable view of digital assets. The news also came as a boost to Trump's re-election campaign, as he has been courting the crypto vote in recent months.



In conclusion, the Dow Jones Industrial Average futures rose on Monday ahead of President Donald Trump's planned tariffs on Mexico and Canada, while Bitcoin soared on news of Trump's plan to create a national crypto reserve. The tariffs and the crypto reserve announcement sent shockwaves through global markets, but investors seemed optimistic that a deal could be reached to avoid the tariffs or that they would be temporary. The surge in Bitcoin prices came as a relief to investors who had been watching the cryptocurrency's value fluctuate in recent weeks.