Economic uncertainty in the US

Last week Trump announced and implemented reciprocal tariffs with all countries that exports goods to the US, and as at the close the US stock exchanges on Friday, It was estimated that $6.4 trillion has been wiped out in market values. Almost all of the stock exchanges in the world also reported lower stock prices, that some $11 trillion in stock market wealth has disappeared. Oil and other commodity prices expected to be affected by the Trump tariffs also fell, but gold prices shot up as investors seek safe havens for their investments.

- Ruben Almendras [e-mail]

The Trump tariffs to almost a hundred countries ranged from 10% to as much as 65%, with the major US trading partners like Canada, China, Japan, Mexico, Germany, France, Italy, and other European countries, in the 30% to 50%. The Philippines was slapped with 17%, Indonesia 30% and Vietnam 45%, and so are most of the developing countries that have positive trade balance with the US.