Brief by Shorts91 Newsdesk / 04:59am on 07 Apr 2025,Monday Business
Asian markets plunged on Monday after former US President Donald Trump announced sweeping new tariffs, triggering fears of a global economic shock. Japan’s Nikkei 225 dropped 6.5%, Taiwan nearly 10%, and Singapore 8.5%. US futures also pointed to heavy losses, with oil dipping below $60/barrel. Trump defended the tariffs, saying, “Sometimes you have to take medicine to fix something.” China retaliated with 34% tariffs on US goods. Over 50 countries, including Vietnam and Israel, are seeking tariff negotiations. Britain’s PM Keir Starmer warned the old global order is ending, while economists fear rising consumer prices and prolonged market turbulence. (PC: Getty Images)
