Economic Turmoil and Foreign Policy Moves Define Trump's Week
Stock markets tumble on tariff fears while a tentative Russia-Ukraine ceasefire raises questions.
- U.S. stock markets entered correction territory this week, with the S&P 500 falling 10% from recent highs, driven by fears of a trade war and economic uncertainty.
- President Trump imposed 25% tariffs on Canadian metals, though plans to double them were paused following negotiations with Ontario officials.
- Trump threatened a 200% tariff on European alcoholic products, escalating global trade tensions and sparking concerns over inflation and consumer spending.
- The administration brokered a 30-day ceasefire proposal in the Russia-Ukraine conflict, but critics argue it involved significant concessions to Russia without clear reciprocal benefits.
- Economic experts warn that Trump's tariff policies and federal spending cuts could push the U.S. into a recession, with consumer confidence and job growth already showing signs of strain.
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