1 week Ago
T he latest set of U.S. tariffs , including a massive 104% levy on Chinese imports, take effect on Wednesday (April 9, 2025), leaving markets around the world worried about whether the tariffs would be permanent or U.
S. President Donald Trump would bring them down with negotiations. Analysts have warned that financial markets will experience more swings up and down, given the uncertainty over how long Mr.
Trump will keep the stiff tariffs on imports. It is expected to cause a recession if they last a long time. China said it will “fight to the end” and warned of countermeasures after Mr.
Trump threatened on Monday to raise his tariffs even further on the world’s second-largest economy. Mr. Trump, on April 2, had unveiled a raft of punishing tariffs targeting countries around the world, including some of its closest trading partners, in a move that risks sparking a global trade war.
(With inputs from agencies) Follow the latest updates here: Asian shares sank again on Wednesday as the latest set of US tariffs, including a massive 104% levy on Chinese imports, was due to take effect. Japan’s Nikkei 225 index initially lost nearly 4% and markets in South Korea, New Zealand and Australia also declined. On Tuesday, the S&P 500 dropped 1.
6% after wiping out an early gain of 4.1%. That took it nearly 19% below its record set in February.
The Dow Jones Industrial Average dropped 0.8%, while the Nasdaq composite lost 2.1%.
Uncertainty is still high about what President Donald Trump will do with his trade war. -AP The United States and China hurtled towards an all-out trade war on Wednesday (April 9, 2025), locked in a high stakes game of brinkmanship as President Donald Trump prepared to unleash a wave of tariffs against dozens of partners. The global economy has been rocked since sweeping 10% U.
S. tariffs took effect over the weekend, triggering a dramatic market sell-off worldwide and sparking recession fears. Read more here Additional U.
S. tariffs on Chinese imports are set to reach 104% on April 9, 2025, the White House says; Washington doubles down on planned action after Beijing vowed a “fight to the end” on levies.
