Trump's latest tariffs kick in, deepening global trade war
President Donald Trump's "reciprocal" tariffs on dozens of countries took effect on Wednesday, including massive 104% duties on Chinese goods, deepening his global trade war even as he prepared for negotiations with some nations. Trump's punishing tariffs have shaken a global trading order that has persisted for decades, raised fears of recession and driven worldwide stocks sharply downward. The S&P 500 has shed nearly $6-trillion in value since Trump unveiled the tariffs a week ago, the deepest four-day loss since the benchmark's creation in the 1950s. The index is now nearing a bear market, defined as 20% below its most recent high.
President Donald Trump's "reciprocal" tariffs on dozens of countries took effect on Wednesday, including massive 104% duties on Chinese goods, deepening his global trade war even as he prepared for negotiations with some nations.
Trump's punishing tariffs have shaken a global trading order that has persisted for decades, raised fears of recession and driven worldwide stocks sharply downward.
The S&P 500 has shed nearly $6-trillion in value since Trump unveiled the tariffs a week ago, the deepest four-day loss since the benchmark's creation in the 1950s. The index is now nearing a bear market, defined as 20% below its most recent high.
