Trump Tariffs Trigger Wall Street Bloodbath, S&P 500 Notches Worst Weekly Drop Since 2020: This Week In Markets

Global markets plunged in the first week of the new quarter after President Donald Trump announced sweeping new tariffs on Wednesday—an event he dubbed “Liberation Day.”
Trump unveiled a set of retaliatory tariffs with differentiated rates depending on the trading partner. The announcement sparked backlash from analysts, who criticized the methodology and raised fears of retaliation from global trade partners.
China, the country with which the U.S. has the largest trade deficit, was hit with a steep 34% tariff, prompting Beijing to respond with similar countermeasures by the end of the week. The escalation marked the beginning of a new global trade war between the world’s two largest economies.
Other key trading partners were also targeted: the European Union faced a 20% tariff, Japan 24%, and India 26%. Canada and Mexico were spared, as long as their exports complied with USMCA provisions.
The surprise severity …Full story available on Benzinga.com

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