Trump's Tariffs Unleash Trade War and Calls for Negotiations
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CNN |
President Donald Trump’s blanket 10% tax on imports took effect overnight, with much steeper tariffs for many countries still to come next week.
KRON4 News |
The trade wars launched by U.S. President Donald Trump have escalated to new heights.
Investopedia |
The tariffs represent a rollback of the post-WWII economic global trade system, which economists credit with raising U.S. living standards.
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Traders have flocked to bets this week that would pay out if stocks kept tumbling. Volumes in put options tied to stocks and exchange-traded funds smashed a record Friday, according to Cboe Global Markets data.
The S&P 500 fell almost 5 percent on Thursday, its worst drop since June 2020, as President Trump’s higher-than-expected tariffs set off another round of economic worry.
By Saqib Iqbal Ahmed NEW YORK (Reuters) -Alarm about the fallout from President Donald Trump's sweeping tariffs gripped global financial markets, with Wall Street's fear level at a five-year high while financial executives expressed shock and worry about economic growth.
The initial 10 per cent “baseline” tariff paid by US importers took effect at US seaports, airports and customs warehouses at 2pm AEST on Saturday.
A roller-coaster quarter for markets is ending with little relief, as President Donald Trump’s disruptive trade policies and rising stagflation fears drive investors toward risk aversion.
Customs agents began collecting unilateral 10% tariffs after fallout from President Trump's new policy and China's retaliation saw the worst week for U.S. stocks since the pandemic.