Overview

• China imposed 34% tariffs on all U.S. goods starting April 10 and restricted rare-earth exports critical to tech industries.
• Global markets have lost over $3 trillion in value, with U.S. indices seeing their worst single-day declines since 2020.
• Economists now estimate a 60% chance of a global recession, citing heightened economic uncertainty and supply chain disruptions.
• The European Union is finalizing retaliatory measures, potentially targeting $28 billion in U.S. goods with tariffs.
• Major U.S. industries, including automotive and tech, are bracing for higher costs, layoffs, and operational shifts due to the tariffs.