Source: New York Times
“Markets around the world shuddered on Thursday after President Trump announced across-the-board 10 percent tariffs on [American buyers of goods from] all U.S. trading partners except Canada and Mexico, as well as even higher tariffs on [American buyers of goods from] dozens of America’s other main trading partners. Futures on the S&P 500, which allow investors to trade the index outside normal trading hours, slumped over 3 percent. Asian markets fell sharply, with benchmark indexes dropping more than 3 percent in Japan, and nearly 2 percent in Hong Kong and South Korea. The slide came after Mr. Trump, speaking at a ceremony at the White House on Wednesday, announced a new 10 percent base line tariff on all imports as well as country specific taxes on goods from a host of other countries.” (04/02/25)