The recent tariffs imposed by President Trump led to a dramatic drop in the stock market, marking the worst day for the S&P 500 since the pandemic's peak. Key global leaders reacted strongly; Ursula von der Leyen from the EU indicated solidarity among member countries against U.S. tariffs. China and Canada announced countermeasures, while Mexico focused on enhancing domestic production. These developments highlight a shift in global trading relationships and elevate tensions as nations prepare to defend their economic interests.
Stocks in Asia and Europe also fell, with the S&P 500 down 4.8 percent, marking its worst drop since June 2020 due to surprise tariffs from Trump.
European leaders, led by Ursula von der Leyen, vowed to retaliate against Trump’s tariffs, declaring that an attack on one is an attack on all.
China announced its intention to respond to the new tariffs, emphasizing the need to protect its rights and interests amidst escalating trade tensions.
Canada's Prime Minister Mark Carney and Mexico's President Claudia Sheinbaum implemented measures to mitigate the effects of U.S. tariffs, with calls for a new trading order.
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