Brief by Shorts91NewsDesk / 10:57am on 07 Apr 2025,Monday Business
Global financial markets are in turmoil following President Donald Trump's imposition of tariffs ranging from 10% to 50% on imports from over 60 countries. The FTSE 100 plunged over 5.5%, reaching a one-year low, while Asian markets, including Japan's Nikkei and Hong Kong's Hang Seng, experienced significant declines. Goldman Sachs has raised the probability of a U.S. recession to 45%, citing severe financial tightening and heightened policy uncertainty. China has labeled the tariffs as "economic bullying" and announced retaliatory measures. President Trump remains steadfast, asserting that the tariffs are necessary despite widespread economic fallout and growing fears of a global trade war. (PC: New York Times)
