U.S. President-elect Trump recently announced that if he takes office, he will sign an executive order on his first day imposing high tariffs on imported goods from Mexico, Canada, and China. This move has caused the U.S. dollar to strengthen rapidly, with non-U.S. currencies generally declining, and the Taiwanese stock market also being significantly affected and dropping sharply. (Background: Wall Street enters Bitcoin lending) Trump's business firm Cantor offers billions in 'BTC collateralized loans,' and his son previously worked at Tether.) (Additional background: Crypto think tank warns: Despite Trump's victory, these 3 U.S. policies could still scare away cryptocurrency investors) Today (26th), in the early hours, U.S. President-elect Trump made a statement on the social media platform 'Truth Social,' stating that if he takes office, he will sign an executive order on his first day to impose a 25% tariff on all imported goods from Mexico and Canada, and an additional 10% tariff on Chinese imports. Trump emphasized that this action is a retaliation against illegal immigration issues and cross-border crime and drug problems. This news quickly propelled the U.S. dollar to strengthen, with non-U.S. currencies generally declining, among which the Canadian dollar and Mexican peso fell the most, with the latter dropping over 1.2%. Major impact on trade relations Currently, Mexico, China, and Canada are the three largest sources of U.S. imports, statistics show that as of September this year, these three countries combined accounted for 42% of the total value of U.S. imports. Among them, Canada's and Mexico's exports to the U.S. account for nearly 80% respectively. Therefore, if the Trump administration implements the planned 25% tariff increase, it will have a significant impact on the economies of these two countries. Additionally, Trump also plans to impose a 10% tariff on goods from China, which is a response to China's failure to fulfill its promise to stop fentanyl from entering the U.S. According to a report by the New York Times, Trump had stated during his campaign that tariffs on China could exceed 60%, and plans to impose tariffs ranging from 10% to 20% on other countries. In 2022, Mexico, China, and Canada collectively exported $830 billion to the U.S., making them the three largest trading partners of the U.S. Strong dollar, Taiwanese stock market declines The Taiwanese stock market today (26th) closed at 22,678 points, down 269 points. TSMC's stock price closed at NT$1,010, a decline of 1.94%, down NT$20. The weighted index of the Taiwanese stock market opened at 22,789 points today and continued to decline, hitting a low of 22,700 points during the session, ultimately closing at 22,678 points, down 269 points. Related reports Wall Street enters Bitcoin lending) Trump's business firm Cantor offers billions in 'BTC collateralized loans,' and his son previously worked at Tether. Crypto think tank warns: Despite Trump's victory, these 3 U.S. policies could still scare away cryptocurrency investors. Trump nominates Besant to serve as U.S. Treasury Secretary, what is his stance on cryptocurrencies, supporting Bitcoin reserves? "Trump calls for high tariffs on Mexico, Canada, and China as soon as he takes office! The dollar jumps on the news, and TSMC closes down." This article was first published in BlockTempo (the most influential blockchain news media).