Global financial markets plunged into turmoil on Monday following U.S. President Donald Trump’s decision to impose sweeping tariffs on Canada, Mexico, and China, escalating fears of an all-out trade war.

Trump Moves Ahead with Tariffs Despite Global Concerns

On Saturday, President Trump signed an executive order imposing 25% tariffs on Canadian and Mexican imports and 10% tariffs on Chinese goods, set to take effect Tuesday. To mitigate potential spikes in energy costs, Canadian energy imports will face a reduced 10% tariff.

In response, Canada, Mexico, and China have all signaled retaliatory measures, further raising economic uncertainty. Trump warned that any countermeasures could prompt higher or expanded tariffs on their exports.

Market Fallout: Euro Plunges, Stocks Tumble

Global markets reacted sharply to the announcement, with major currencies and equities sliding amid heightened trade tensions.

• The Canadian dollar fell to its lowest level in over two decades against the U.S. dollar.
• The Mexican peso dropped to a four-year low.
• The euro slumped over 1%, hitting its weakest level in more than two years.
• Commodity-linked currencies such as the Australian and New Zealand dollars also saw steep declines of around 2% against the U.S. dollar.

In commodities trading, crude oil prices surged 4%, initially reacting to potential supply disruptions before retreating due to the lower tariff on Canadian energy. Meanwhile, gold, silver, and copper prices declined as a strengthening U.S. dollar weighed on metal markets.

Cryptocurrencies also suffered amid broader market turmoil. Bitcoin fell from $101,000 (€99,000) over the weekend to just above $94,000 (€92,000) by early Monday morning.

Stocks Hit Hard, Auto Industry Faces Pressure

Equity markets in Asia, Europe, and North America opened lower, while U.S. and European stock futures tumbled. The hardest-hit sector was automobiles, particularly European car manufacturers with production in Mexico.

• BMW, Volkswagen, and Mercedes-Benz saw pre-market declines amid concerns over U.S. tariffs on Mexican-made vehicles.
• Stellantis and Renault also faced selling pressure, with investors fearing prolonged trade disruptions.

Analysts warned that risk-off sentiment would likely dominate the week.
“This week, investors are likely to go risk-off—particularly as Trump has said he is unfazed by the market reaction,” said Josh Gilbert, a market analyst at eToro Australia.

Government Bonds and Inflation Risks

Government bonds—typically seen as safe-haven assets—were in focus as investors sought stability. However, Trump’s tariffs and the potential for retaliation raised concerns about global inflation, complicating monetary policy decisions for central banks in the U.S. and the EU.

Canada, Mexico, and China Prepare Countermeasures

In response to the U.S. tariffs, Canadian Prime Minister Justin Trudeau announced 25% tariffs on $155 billion (€102.8 billion) worth of U.S. goods, targeting alcohol, agriculture, consumer products, and raw materials.

• Tariffs on $30 billion (€19.9 billion) worth of goods will take effect immediately on Tuesday.
• Analysts warn that the economic blow could push Canada into a recession, marking its first economic contraction since the pandemic.

Meanwhile, Mexican President Claudia Sheinbaum said Mexico was preparing a “Plan B” involving tariff and non-tariff measures to protect its economy. Details are expected to be announced later Monday.

In China, the Ministry of Commerce strongly condemned the U.S. decision, calling it a “serious violation of WTO rules.”

• Beijing plans to file a complaint with the World Trade Organization (WTO) while keeping diplomatic channels open for negotiations.
• A government spokesperson urged the U.S. to “correct its wrongful actions” and “work with China” to de-escalate tensions.

As trade tensions escalate, global markets brace for more volatility, with investors watching for further U.S. policy moves and retaliatory measures from affected nations.

A new report from the World Economic Forum (WEF) highlights significant changes in the global job market, with technological advancements, demographic shifts, and economic uncertainty reshaping employment opportunities. While 92 million jobs are expected to be displaced by 2030, an estimated 170 million new positions will emerge, resulting in a net gain of 78 million jobs.

Tech-Driven Roles Dominate Fastest-Growing Jobs

According to the WEF’s “Future of Jobs Report 2025,” jobs related to artificial intelligence (AI), financial technology, and data analytics will see the highest growth rates over the next five years.

The demand for Big Data Specialists is projected to rise by 113%, followed closely by FinTech Engineers (93%) and AI & Machine Learning Specialists (82%). Other high-growth roles include:

• Software and Applications Developers (+57%)
• Security Management Specialists (+53%)
• Data Warehousing Specialists (+49%)
• Autonomous & Electric Vehicle Specialists (+48%)
• UI & UX Designers (+48%)
• Internet of Things (IoT) Specialists (+42%)
• Data Analysts & Scientists (+41%)

Clerical and Administrative Roles in Decline

Conversely, clerical jobs are among the most at-risk, as automation and AI continue to streamline business operations. By 2030, nearly one-third of postal service clerks (-34%) and bank tellers (-31%) will be displaced.

Other declining roles include:

• Data Entry Clerks (-26%)
• Administrative Assistants & Executive Secretaries (-20%)
• Cashiers & Ticket Clerks (-20%)
• Accounting & Payroll Clerks (-18%)

AI-powered automation is a primary driver of these declines, with businesses increasingly adopting digital processes to reduce reliance on manual labor.

Agriculture and Delivery Industries Experience Job Boom

Despite automation, agriculture remains a crucial source of employment. The report predicts 49 million new farming jobs by 2030, offset by 14.1 million job losses, resulting in a net increase of 34.9 million jobs—accounting for 45% of global net job growth.

Similarly, the rise of e-commerce and online food delivery services will drive demand for light truck and delivery drivers (+9.8 million jobs) and food processing workers (+4.3 million jobs).

Healthcare and Education Show Steady Growth

Unlike other sectors, nursing professionals (+3.1 million jobs) and personal care workers (+1.6 million jobs) are expected to see only job growth, with no anticipated losses.

Education remains another area of expansion, with university and higher education teachers (+1.9 million jobs) and secondary school teachers (+1.6 million jobs) ranking among the fastest-growing professions.

Skills Evolution: A Workforce in Transition

Beyond job creation and losses, the report emphasizes the changing skill landscape. By 2030, 39% of current workforce skills will be obsolete, requiring significant reskilling and upskilling efforts.

As AI and automation continue transforming industries, professionals will need to adapt to emerging technologies to remain competitive in the evolving job market.