Brief by Shorts91 Newsdesk / 05:31am on 07 Apr 2025,Monday International
Global markets tumbled after U.S. President Donald Trump enforced sweeping tariffs, calling them “medicine” to fix trade deficits. Japan’s Nikkei fell nearly 8%, Singapore’s index 6.8%, and South Korea’s Kospi 4.4%, with U.S. futures also sharply down. China retaliated with matching tariffs, making trade between the top two economies nearly impossible. Trump warned countries must “pay a lot of money” to lift tariffs. Goldman Sachs raised U.S. recession risk to 45%. “Sometimes you have to take medicine to fix something,” Trump said. Analysts fear lasting damage to global trade and recession if negotiations don’t replace aggressive tariff policies. (PC: Reuters)
