Global markets suffered losses for the second consecutive day as President Donald Trump’s new tariff measures continue to stoke fears of a global economic downturn.
The controversial tariffs, set to hit a wide range of international imports, have rattled investors worldwide and spurred widespread uncertainty about the future of global trade.
London’s FTSE 100 index fell sharply at the opening bell, following further declines that were seen across Asian markets overnight.
Despite the mounting concerns, President Trump insisted that his tariffs rollout is going “very well,” asserting that the measures will ultimately lead to an economic boom.
In a dramatic development, US markets closed on Thursday with their biggest one-day loss since the onset of the pandemic in 2020, intensifying the debate over the new trade policy.
The tariffs, which impose a minimum duty of 10% on global imports into the United States, are set to come into effect as early as tomorrow.
Among the new measures are steeper duties, including a 20% tariff on European Union imports and a staggering 54% on Chinese goods, scheduled to be implemented from April 9.
World leaders from Beijing to Brussels have vowed to respond to the tariffs, promising retaliatory measures that could further strain international economic relations.
Market analysts warn that the escalating trade tensions could undermine global market stability, affecting investor confidence and economic growth prospects worldwide.
A detailed breakdown from our business reporter highlights the potential impact on the UK’s economy, where initial market responses indicate significant vulnerability.
As the situation continues to develop, investors remain cautious, with many bracing for further volatility and uncertainty in the global economic landscape.
