Business News

Stocks Rise on Trump Tariff Narrowing

The major U.S. stock indexes jumped Monday, driven by optimism that President Trump’s upcoming reciprocal tariffs, set for April 2, would be narrower than announced.

Trump hinted at leniency over the weekend, suggesting he might impose tariffs lower than those charged by other countries, easing concerns about a trade war’s impact on inflation and growth.

Subsequently, the Dow jumped nearly 600 points, while the S&P 500 and Nasdaq climbed 1.8% and 2.3%, respectively. The 10-year Treasury yield rose to 4.33%, and Bitcoin jumped 3% to nearly $88,000.

Trump also announced a new 25% tariff on imports from any country buying Venezuelan oil, alongside expanded tariffs on Venezuela itself.

World’s Largest Defense Budgets

The U.S. maintained its dominance in global defense spending in 2024, allocating nearly $1 trillion—more than the next 12 countries combined, according to the International Institute for Strategic Studies.

China followed with a $235 billion budget, while Russia ranked third at $146 billion. However, due to lower domestic costs, their actual military capabilities could be greater than these figures suggest.

NATO allies in Europe and Canada averaged 2% of GDP on defense, compared to the U.S.’ 3.4%. See a graphic here.