Reported about 21 hours ago
President Trump's announcement of new tariffs has led to a significant downturn in U.S. stock markets, prompting fears of a global trade war as trading partners, including China, announce retaliatory tariffs. With a 10% baseline tariff on all countries and further increases for specific partners, the trade landscape is shifting drastically. Analysts warn of potential recession risks and increased costs for U.S. consumers, particularly in the auto industry, as companies grapple with the impact of these tariffs. Amidst the turmoil, Trump downplays market reactions, asserting that the economy will eventually recover.
Source: YAHOO