Hello tariffs, goodbye dollar profits

April Fool's Day was on April 1, but the very next day, US President Donald Trump unleashed his Liberation Day, raised tariff rates of 10% on the United Kingdom, Australia and Singapore, 20% on the European Union (EU) and 75.29% on China. Read full story

APRIL Fool’s Day was on April 1, but the very next day, US President Donald Trump unleashed his Liberation Day, raised tariff rates of 10% on the United Kingdom, Australia and Singapore, 20% on the European Union (EU) and 75.29% on China. Market analysts quickly dubbed it “Obliteration Day”, since the US stock market plummeted by 4% the next day, wiping out US$9 trillion of global stock market capitalisation over the next two working days.

.