According to @KobeissiLetter, the weighted-average US tariff rate has climbed to 29% following 'Liberation Day' tariffs, marking a historic high surpassing even the Smoot-Hawley Act of the 1930s. This significant increase could impact international trade dynamics and potentially influence cryptocurrency market volatility as investors seek alternatives to traditional assets.

According to The Kobeissi Letter, after the implementation of 'Liberation Day' tariffs, the weighted-average US tariff rate has soared to 29%, marking the highest level since the Smoot-Hawley Act of the 1930s Great Depression. This significant increase in tariffs could have substantial implications for trading strategies and market dynamics, as it may affect import costs and consumer prices, potentially leading to shifts in market sentiment and trade volumes.

According to The Kobeissi Letter, Nike shares (NKE) have plummeted by 14%, reaching the lowest level since October 2017. This decline is attributed to the recent 46% tariff imposed by the US on Vietnam, where Nike employs over 530,000 workers. This situation poses a significant challenge for Nike, impacting their production costs and potentially affecting their market position.

According to The Kobeissi Letter, the initial announcement from a WSJ report about a 10% baseline tariff by the US led markets to believe all tariffs would be 10%. However, President Trump later clarified that many tariffs would exceed 10%, affecting market sentiment significantly.