Last night, Donald Trump fired the first big shots in a global trade war, announcing sweeping tariffs on friend and foe alike.
The US president ordered a 10% “baseline tariff” on all imports to America, and higher “reciprocal tariffs” on goods from about 60 countries or trading blocs that have a high trade deficit with the US.
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Following President Donald Trump’s latest and strongest set of tariffs, financial markets around the world are facing major losses.
The US stock market, however seems to be experiencing the biggest impact from this situation.
On Thursday,
» Read more about: US stock market faces major losses as Trump’s tariffs shake global economy »
Vice President JD Vance asked for patience from the public as the Trump administration continues its plans it claims will lower prices, including deregulation and tariffs.
The vice president joined Fox News’s Fox and Friends Thursday morning, a day after President Donald Trump announced his slate of reciprocal tariffs at the White House.
The broad tariff actions declared by President Donald Trump have created alarm among economists, with the country’s largest bank, JPMorgan Chase, issuing warnings that the measures have the potential to take the U.S. economy perilously near a recession.
The announcement has drawn sharp responses from Wall Street, where investors are concerned about the risk of disruption to global trade and economic stability.
President Trump has liberated Mr. Market, and the beast looks keen to blast through a key technical level on the S&P 500 (^GSPC).
In a “Liberation Day” spectacle at the White House, Trump uncorked a baseline tariff rate of 10% on countries that will go into effect on April 5.
The Wall Street Journal on Wednesday issued a scathing critique of President Donald Trump’s so-called Liberation Day announcement vowing sweeping new tariffs on countries worldwide.
In a sharply worded editorial headlined “Trump’s New Protectionist Age,” the newspaper’s conservative board warned of multiple ways the tariffs could backfire on Trump that the president “isn’t advertising.”
The board pointed to a range of possible repercussions,
» Read more about: Wall Street Journal Torches Trump's Tariffs With 'Golden Age' Reality Check »
Apple (AAPL) shares fell over 7% before the bell, still leading the sell-off in tech stocks that followed Trump’s bigger-than-expected tariffs.
Apple’s overseas production hubs are particularly vulnerable, given the iPhone maker’s presence in China, Vietnam, and India. These countries will face tariffs of 34%,
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SINGAPORE – Investors in Singapore are shifting more funds to defensive assets such as gold, cash, government bonds and real estate investment trusts (Reits) in response to US President Donald Trump’s latest tariff announcement, analysts say.
Mr Trump’s April 2 decision to impose at least 10 per cent tariffs on all exporters to the US – friends and foes alike – have pushed investors towards safer options amid market volatility.
» Read more about: Gold rush: Investors fleeing to safe havens after Trump’s tariff bombshell »