Trump Tariff’s have unleashed mayhem in global stock markets with uncertainity going through the roof.
Asian markets plunge: Markets in Asia slumped Monday, sparked by US President Donald Trump’s trade war and China’s forceful response to high tariffs. Hong Kong’s benchmark Hang Seng index closed 13.2% lower – its worst day since 1997.
• European stocks tumble: Stock markets in Europe. Germany’s DAX down 9% and London’s FTSE 100 down about 5%.
• Trump’s trade war: As US and global stock markets tanked, Trump said he does not want “anything to go down,” but stressed “sometimes you have to take medicine to fix something.” With the administration sending mixed signals on whether his trade policies are open for negotiation, fears of a global recession are mounting.
Trump Defends Tariff Strategy Amid Market Selloff, Says ‘Sometimes You Have to Take Medicine’
As global markets brace for heightened volatility, U.S. President Donald Trump reaffirmed his commitment to sweeping tariff measures, dismissing concerns that he is deliberately triggering a selloff. Speaking aboard Air Force One on Sunday, Trump likened the current economic disruption to a necessary cure.
“I don’t want anything to go down, but sometimes you have to take medicine to fix something,” Trump told reporters. The remarks came as U.S. markets endured a sharp decline last week, with futures pointing to more turbulence in Asia and beyond.
Trump’s aggressive trade stance has sent shockwaves through financial markets, with analysts increasingly forecasting the possibility of a U.S. recession and potential interest rate cuts as early as May.
Despite market anxiety, Trump insisted the U.S. economy remains resilient. “What’s going to happen to the markets I can’t tell you. But our country is much stronger,” he asserted.
The President also made clear that his administration would not reach a trade agreement with China unless the persistent trade deficit is resolved. “Unless we solve that problem, I’m not going to make a deal,” he said.
As of Saturday, U.S. customs agents began collecting a flat 10% tariff on imports from many countries. More severe “reciprocal” tariffs—ranging from 11% to 50%—are scheduled to take effect Wednesday at 12:01 a.m. EDT. Trump added that he has spoken with leaders across Europe and Asia, claiming many are eager to strike a deal with the U.S.
These developments come at a time when investor sentiment is increasingly fragile. With inflationary pressures, rising input costs, and now a potential trade war escalation, businesses and financial markets alike are on high alert.
For latest Business and Finance News subscribe to Globalfinserve, Click here