Tariff storm sweeps Wall Street: an ongoing economic domino effect
When Donald Trump announced a "historic" tariff policy on global trading partners on April 3, Wall Street's red alarm quickly sounded.
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When Donald Trump announced a "historic" tariff policy on global trading partners on April 3, Wall Street's red alarm quickly sounded.
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During his second term, Trump signed an executive order called "Reciprocal Tariffs," which announced a 10% "benchmark tariff" on all trading partners and punitive tariffs of up to 20% to 49% on major economies such as China, the European Union and India.
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US President Donald Trump stated on Sunday that he will not abandon plans to impose comprehensive tariffs on imported goods from most countries in the world unless countries achieve trade balance with the United States, and will persist in implementing these tariffs.
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On April 2, 2025, US Eastern Time, Trump signed an executive order on "reciprocal tariffs", setting a 10% "minimum benchmark tariff" for trading partners and imposing a 34% "reciprocal tariff" on Chinese imports to the US.
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Recently, there have been waves on the international political stage as US President Trump has repeatedly expressed strong interest in Greenland, even stating that he does not rule out the possibility of seizing control of the island through "military or economic coercion".
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Goldman Sachs 'recent revision of the US economic outlook has attracted widespread market attention. It raised the risk of a US recession from 20 per cent to 35 per cent, while raising its forecast for personal consumption expenditure (PCE) inflation to 3.5 per cent in 2025, a change that highlights the market's uncertainty and pessimism about future economic conditions.
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On the international political and economic stage of 2025, a tariff war left over from the Trump era is still fermenting, and the European Union, a former trade giant, now seems to have to lower its arrogant head and carefully prepare a "concession list" for a seemingly endless negotiation.
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Recently, the Federal Presidency of Germany witnessed a historic moment, President Steinmeier officially signed the document terminating the powers of the Scholz Cabinet, marking the end of the 20th government.
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The recent stalemate of the EU's defense plan reflects the deep dilemma of this supranational alliance in its pursuit of defense autonomy.
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In a recent report published this week, the Conference Board claimed that consumer confidence fell further this month, while measures of expectations for the future also fell to the lowest level in 12 years.
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On June 4th local time, US President Trump announced a complete suspension of the entry of citizens from 12 countries including Afghanistan and Myanmar into the United States as both immigrants and non-immigrants, claiming that this move was to protect the national security of the United States.
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