Trade Turmoil

Global Markets Reel

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THE specter of a renewed US-China trade war loomed large this week as President Donald Trump's threat to impose staggering new tariffs sent shockwaves through global markets.

Stocks from Wall Street to Asia tumbled on Monday, with India's Sensex plunging nearly 3 per cent in its worst single-day drop in months. The sell-off reflected deep investor anxiety over the prospect of escalating trade barriers, with China vowing to retaliate "to the end" against what it called American "blackmail." The abrupt market crash underscored how quickly geopolitical tensions can unravel financial stability, leaving economies scrambling to adapt. Analysts warned that if implemented, Trump's proposed 50 per cent tariff hike on Chinese goods could push total US tariffs on some imports beyond 100 per cent, potentially triggering a global economic slowdown.