Global Markets Rattle Amid Trump’s “Liberation Day” Tariffs

President Donald Trump stunned the global financial community by announcing sweeping new tariffs—dubbed the “Liberation Day Tariffs”—targeting hundreds of billions of dollars in imports, especially from China, Mexico, and even close allies like Germany and Japan.

Though he has since delayed full implementation for 90 days, the announcement has already had severe consequences:

Market Reaction: European and Asian stock markets dipped significantly, with the UK’s consumer confidence index falling to its lowest in over a decade.

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Currency Instability: Emerging markets experienced currency devaluation, particularly in Asia, where supply chains are deeply intertwined with U.S. trade.

Global Warnings: The IMF and World Bank warned that the tariffs could reduce global GDP by up to 0.8% if prolonged.

This move, seen by some as political posturing ahead of the 2026 midterms, has sparked fears of a new global trade war.