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Will Trump's "Liberation" day explode in his face?
The Mercury
|April 07, 2025
THE US president's "liberation day" tariff policies, announced on Wednesday, have resulted in sweeping border taxes of between 10% and 50% imposed on almost every nation, wiping out $1.9 trillion ($34.9 trillion) off Wall Street stocks and share prices in other financial centres across the globe on Thursday.
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The selloff on Friday the S&P 500 had lost 10.52% over the two days.
Over the week, the index is down 8.6% and on track for its worst performance of the index since the COVID-19 virus outbreak.
Households, despite worries about rising inflation due to the tariff war, are becoming increasingly nervous about possible higher unemployment in the months to come.
This is the opposite of what President Trump has in mind as his "Make US Better" tariff policies.
This story is from the April 07, 2025 edition of The Mercury.
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