Trump’s Sweeping Tariffs Spark Global Trade War and Market Chaos
The U.S. imposes historic tariffs as China retaliates, global markets plunge, and recession fears escalate.
- President Trump’s tariffs, including a 10% universal duty and higher rates for specific countries, have officially taken effect, marking the steepest trade barriers in over a century.
- China has announced a 34% retaliatory tariff on all U.S. goods and export restrictions on rare earth elements, set to begin April 10, intensifying trade tensions.
- Global stock markets have plummeted, with the U.S. losing $6 trillion in market value over two days and major indices entering bear market territory.
- Economists and financial institutions, including JPMorgan, have raised U.S. recession forecasts to 60%, citing the tariffs as a significant economic shock.
- President Trump remains defiant, urging Americans to ‘hang tough’ and defending the tariffs as essential for economic reform, despite mounting criticism and economic instability.
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