Markets Fall as Trump Raises Tariffs on Dozens of Countries
US markets opened sharply lower following President Donald Trump’s executive order implementing new tariffs of up to 41% on imports from dozens of countries, ranging from 10% baseline duties to 35% on Canada, 25% on India, 20% on Taiwan, and up to 50% on Brazil and others. The sweeping measures expanded import duties to approximately 69 global trading partners, pushing the U.S. effective tariff rate to around 18%— levels unseen in decades. Global financial markets reacted with anxiety: U.S. futures fell roughly 1%, Europe’s Stoxx 600 dropped 1.3%, and Asian indexes also declined noticeably. Wall Street opened lower, with the Dow down over 500 points, the S&P 500 off 1.4%, and the Nasdaq down 1.8%, compounded by weak U.S. hiring data showing only 73,000 new payrolls in July and substantial downward revisions to prior months. Analysts warn that while some […]
