Trump's Tariff Shock: A New Trade War Era?
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On April 2, 2025, former President Donald Trump made a bold move that sent shockwaves across the global economy—announcing sweeping new tariffs on imports to the United States. The policy includes a 10% blanket tariff on all goods entering the country, with significantly higher rates targeting key trading partners: 34% for China, 20% for the European Union, 24% for Japan, 25% for South Korea, and a staggering 32% for Taiwan. The announcement has rattled global markets, with stock exchanges in Beijing and Tokyo taking heavy losses, and European markets following suit. Investors are flocking to safe-haven assets like gold, and oil prices have taken a hit, signaling fears that the tariffs could stifle global economic growth. Economic experts are warning that these tariffs could lead to increased production costs, higher prices for consumers, and potential job losses. Shipping giant Maersk has already criticized the move, calling it damaging to global trade stability. In response...
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