The year 2025 has brought a resurgence of protectionist trade policies, with the United States leading the way under President Trump.The U.S. imposed a new 10% baseline tariff on all imported goods on 'Liberation Day', escalating trade tensions globally.Retaliatory measures have been swift, with countries like Canada and China imposing tariffs in response.This trade war has reignited global trade tensions, putting trade alliances under severe strain.The imposed tariffs have impacted up to 60 countries, raising concerns about inflation and market volatility.Financial markets, including crypto, have seen significant distress, with global crypto capitalization dropping by 26%.Bitcoin and Ethereum have faced considerable drops, showing crypto's vulnerability to macroeconomic shocks.Traditional equities fell, but safe-haven assets like gold surged as investors sought security amid market turbulence.The tariff resurgence has led to increased volatility, with Bitcoin experiencing significant losses and Ethereum's volatility surging.The macroeconomic implications include rising inflation and potential stagflation, impacting GDP and economic forecasts.