US Stock Market Donald Trump Tariff Live Updates: Trump’s announcement on Wednesday sent shockwaves through global stock markets. (Reuters)
Donald Trump Tariff Live Updates | US Stock Market News: As US President Donald Trump’s new tariffs take effect, Israeli Prime Minister Benjamin Netanyahu is heading to Washington to discuss easing the 17% tariff on Israeli goods. With global leaders warning against trade wars, Netanyahu aims to persuade Trump to reduce the tariffs, which could impact Israel’s economy. Netanyahu said he is the “first international leader, the first foreign leader, who will meet with President Trump on the issue, which is so important to the Israeli economy”.
Trump assured Americans that the outcome will be “historic” but cautioned citizens to “hang tough” amid potential economic hardship. On Saturday, UK Prime Minister Keir Starmer and French President Emmanuel Macron spoke by phone, agreeing that “a trade war is in nobody’s interests,” but stressing that “nothing should be off the table” as they weigh possible responses.
‘Liberation Day’ decree: Donald Trump imposed sweeping new tariffs on all trading partners causing global market turmoil and swift condemnation from allies and adversaries and tit-for-tat retaliation from China. All countries have been slapped with a 10 per cent ‘baseline’ tariff, with several others hit with varying levels of ‘retaliatory’ tariffs. Trump insists the policy will deliver “historic” results — but global businesses are already feeling the pressure.
Market in turmoil: Trump’s announcement on Wednesday sent shockwaves through global stock markets. Wall Street plunged on Friday, erasing $5 trillion in market value from S&P 500 companies by the close of trading on Friday — marking a record two-day loss. Oil and commodity prices also tumbled as investors rushed toward the relative safety of government bonds. This came after steep losses in Asian and European markets.
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