In a move that’s shaken the global economy, President Donald Trump’s sweeping 10% worldwide tariff has officially kicked in—sending shockwaves through stock markets across the globe.
Announced during a fiery “Liberation Day” speech, Trump’s move to slap blanket taxes on imports marks one of the boldest—and most controversial—trade decisions of his presidency. The impact? Almost $5 trillion wiped off global stock markets in just days.
TRUMP "--- COLLECTING FROM THE USA CONSUMERS "
— Steve Burness (@BurnessSteve) April 5, 2025
The Price to the Consumer,of Everything imported, goes up a minimum of 10%.
If you want it, you pay more for it under Trump's "Fantasy Economics" Trade War.
THERE IS NO WAY THE PRODUCER PAYS THIS TARRIF OUT OF HIS OWN POCKET. pic.twitter.com/d4BlwiAF9D
The U.S. wasn’t spared either. All three major indexes — the Dow, S&P 500, and Nasdaq — plunged more than 5%, marking their worst day since the COVID-19 crash. Over in the UK, the FTSE 100 closed down nearly 5%, its sharpest one-day fall in over five years.
To make things worse, steeper tariffs—20% on EU goods and a massive 34% on imports from China—are looming, set to take effect on April 9. China’s response? Retaliatory tariffs of the same magnitude. A full-blown trade war appears to be underway.
Despite the chaos, Trump remains defiant, posting on Truth Social from his golf resort: “Big business is not worried... This will SUPERCHARGE our economy.”
But not everyone shares that optimism. Economists warn this could slash UK growth projections by up to 0.5%, as Prime Minister Sir Keir Starmer scrambles to coordinate with allies.
The world is watching closely. With tensions rising and markets unraveling, the question now isn’t just how deep the damage goes — but whether any leader can steady the ship.
