Global Markets Plunge as U.S. Tariffs Trigger Escalating Trade War

Donald Trump's tariff policy prompts retaliatory actions from China and Europe, fueling fears of a global recession and massive financial losses.

• The U.S. has implemented a universal 10% tariff on imports, with higher rates of 20% for the European Union and 34% for China, effective April 2, 2025.
• China has responded with a 34% tariff on U.S. imports, set to take effect on April 10, as European leaders prepare a unified countermeasure.
• Global stock markets have experienced severe declines, with major indices in Asia, Europe, and the U.S. losing trillions in value over the past three sessions.
• Economists warn that the tariff measures could slow economic growth, increase inflation, and potentially lead to a global recession.
• Donald Trump remains firm on the tariffs, dismissing market concerns and threatening additional measures, including a 50% tariff increase on Chinese goods.

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