Catenaa, Wednesday, April 02, 2025-Global stock markets tumbled Monday as investors reacted to US President Donald Trump’s plans for sweeping new tariffs on imports, sparking fresh trade war fears.
Trump, who has already imposed tariffs on steel, aluminum and cars, is set to announce additional levies on April 2, which could target all countries.
The uncertainty has rattled markets, with the Nikkei 225 in Japan dropping over 4%, South Korea’s Kospi losing 3%, and major European indexes falling by nearly 1%.
While Wall Street saw volatility, the Dow closed up 1%, the S&P 500 rose 0.5%, and the Nasdaq slipped 0.1%. Gold, a safe-haven asset, surged to a record $3,128.06 an ounce.
The tariffs are expected to generate $600 billion annually, but critics warn they could stoke inflation and hurt American businesses.
Some firms, including U.K.-based Brompton Bicycle, have said they may pull back on US investments.
Meanwhile, Trump confirmed a deadline for TikTok’s Chinese owner ByteDance to sell the app or face a US ban remains set for April 5.
