Golden Finance reports that Trump stated this morning that he will impose a 25% tariff on all products entering the United States from Mexico and Canada. As a result, the US dollar quickly strengthened, with an increase of 0.4%. Non-US currencies fell across the board, with the Canadian dollar and Mexican peso experiencing the most significant declines, the latter dropping more than 1.2%. Spot gold and silver also fell under the pressure of the strong dollar, with silver dropping below $30/ounce.