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Global Stocks Decline as Trump’s Tariffs Trigger Market Uncertainty
London’s financial markets experienced a downturn at the opening bell this morning, mirroring a global sell-off as newly imposed tariffs by former US President Donald Trump took effect, sending shockwaves through international equities.
FTSE 100 Reacts Sharply to New Levies
The FTSE 100 index immediately responded to the escalating trade tensions, commencing trading with a significant 2.5% decrease. This sharp drop reflects broader market anxieties spurred by Trump’s tariffs, which target approximately 60 nations and include a substantial 104% tariff on goods imported from China.
Anticipation of Economic Repercussions
Nations worldwide have been preparing for potential economic fallout from these import taxes. The levies, impacting goods entering the United States, were implemented just after midnight Washington time, equivalent to 5 am in the United Kingdom.
Trump’s Remarks on Trade Policy
In remarks delivered last night, Mr. Trump addressed the tariffs, stating, ‘They exploited us significantly in trade. But now, the advantage has shifted to our side.’ He further commented on international trade relations by adding, ‘And I foresee a situation – not a war, but a shift – because they are all seeking access here. Japan, for instance, is actively pursuing opportunities within our market.’
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Stocks Decline as Trump’s ‘Significant’ Tariffs Come Into Effect
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