Trump tariffs shock world, trigger market meltdown

OVER $1.7 TRILLION WIPED OUT FROM TOP 500 US STOCKS YESTERDAY

- BY JUSTIN GEORGE VARGHESE Your Money Editor

President Donald Trump has imposed the toughest US tariffs in a century, intensifying trade tensions and rattling investors worldwide, sending shockwaves through the global economy and financial markets.

The new policy, announced on Wednesday, applies a minimum 10 per cent tariff on all foreign imports, with even steeper rates for over 60 nations, including major trade partners like China, the European Union, Japan, Vietnam, and India.

China, in particular, faces tariffs exceeding 50 per cent on several goods. “For too long, American workers have been sidelined while other countries gained at our expense,” Trump stated at the White House. “Now, it’s our turn to thrive.”

Dramatic escalation