Trump's trade grenade leaves global markets shell-shocked
By Pragadish Kirubakaran and Neeraja Gopalakrishnan in Media News on Tuesday, 08th April 2025 at 3:28pmIn a move that has sent shockwaves through the global economy, U.S. President Donald Trump announced sweeping tariffs, including a baseline 10 per cent levy on all imports, with significantly higher rates for certain countries. This decision has ignited fears of a full-blown trade war, prompting varied reactions from world leaders and economic stakeholders.
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Partha Sinha for The Times of India claimed that the immediate aftermath of Trump's tariff announcement was a tumultuous day on Wall Street. The S&P 500 and Nasdaq experienced their steepest declines in years, reflecting investor anxiety over escalating trade tensions. Major international leaders voiced their disapproval, warning of a potential global recession and vowing retaliatory measures.
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