President Trump’s sweeping new tariffs have sent shockwaves through global stock markets, causing sharp declines in Asia, Europe, and the United States. The tariffs, which dramatically raise levies on imports from several significant trade partners, have elicited strong criticism and threats of retaliation from affected countries. China, facing a 54% tariff on its exports to the U.S., called the move “typical unilateral bullying” and vowed to take countermeasures.
Japan, hit with a 24% tariff, labeled the decision “extremely regrettable” and promised to prevent significant economic impact. South Korea, facing a 25% tariff, described the situation as “extremely serious” and pledged to overcome the trade crisis. The tariffs announcement caused immediate turbulence in financial markets.
Japan’s Nikkei 225 index tumbled over 4%, closing 2.8% down.
Tariffs shake global markets
South Korea’s Kospi index dropped 2.7%, while Hong Kong’s Hang Seng Index fell 1.5%.
In Europe, the Stoxx 600 index traded 1.2% lower, with Germany’s DAX falling 1.3% and France’s CAC 40 dropping 1.6%. U.S. stock futures indicated a difficult day ahead, with the Dow, S&P 500, and Nasdaq set to open significantly lower. Meanwhile, gold surged to a record high above $3,160 an ounce as investors sought safe-haven assets.
The global outcry against the tariffs has been swift and strong. Taiwan called the measures “highly unreasonable,” while Japan and South Korea expressed grave concerns about the impact on their automobile and steel industries. As tensions escalate and the specter of trade wars looms, the world braces for further economic instability.
The sweeping tariffs have not only caused immediate market turmoil but also raised the stakes in an already fraught global trade landscape.
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