JamzNG Latest News, Gist, Entertainment in Nigeria
The international stock market has fallen dramatically overnight in the midst of fears of a global trade war after the tariff sweeping Donald Trump, which he called “medicine”.
The Japanese Nikkei 225 stock index dived almost 8%, Australian S&P/ASX 200 fell more than 6%, and South Korea’s Kospi lost 4.4%.
Meanwhile, the US stock market has a further weakness, with the future for the S&P 500 lost 4.2%and the average Dow Jones industry fell 3.5%, while the future for Nasdaq lost 5.3%.
Mr. Trump Warns that foreign governments must pay “lots of money” to lift their tariffs, which he described as “medicine”.
“I don’t want anything to go down. But sometimes you have to take medicine to improve something,” he said at Air Force One.
👉 Follow the Trump 100 in your Podcast application 👈
The US president said he had spoken with leaders from Europe and Asia during the weekend who hoped to convince him to reduce tariffs, which would be valid this week.
“I spoke with many leaders, Europe, Asia, from all over the world,” Trump said. “They really want to make an agreement. And I say, we will not have a deficit with your country. We will not do that because for me, the deficit is a loss. We will experience a surplus or, the worst, will achieve break -up.”
Trump, who spent most of the weekend playing golf in Florida, posted on the social platform of the truth: “We will win. Tough, it will not be easy.”
On Saturdays, US Customs Agents began to collect 10% unilateral TRump TRUB tariffs for all imports from many countries.
The higher “reciprocal” tariff between 11% and 50% in each country will begin to take effect on Wednesday.
The announcement of Trump tariffs has jerked the economy throughout the world, triggers a reply from China and
Triggering fear of global trade war and recession.
Investors and political leaders have struggled to determine whether the tariff here is to remain, or is part of a new regime that is permanent or negotiating tactics to win concessions from other countries.
Please use the Chrome browser for video players that are more easily accessible
Is it time to change tactics with Trump?
It came after Sir Keir Starmer promise “brave change” When he announced he would loosen the rules around the electric vehicle after the car maker was beaten by Trump tariff.
That Prime Minister says “global trade is being changed” after US PresidentLevy 25% in imported cars, and 10% tariffs on other products, be in effect.
Read more:
The global market has given Trump of no clear confidence votes
Jaguar Land Rover’s decision triggered anxiety at the car manufacturing center
Please use the Chrome browser for video players that are more easily accessible
‘Nothing off the table’ more than the tariff
Meanwhile, KPMG warns US tariffs on British exports can see GDP growth down to 0.8% in 2025 and 2026.
Accounting companies say higher rates in certain categories, such as cars, aluminum and steel, will be more than compensating for the export of pharmaceutical exports, leaving the effective tariffs charged on British exports around 12%.
Yael Selfin, Head of Economist at KPMG UK, said: “Considering the economic impact that will be caused by tariffs, there is a strong incentive to find a negotiated settlement that reduces the need for tariffs. The British automotive manufacturing sector is specifically exposed given the complex supply chain of several producers.”
