Wall Street experienced a significant downturn, marking the worst day for the S&P 500 since the early pandemic, following President Trump's proclamation of extensive tariffs on U.S. imports. Major stakeholders, including European and Asian markets, reacted strongly, with European leaders pledging retaliation against the 20 percent tariff on the E.U. The backlash extended globally, with China announcing plans to protect its economic interests in light of a new 34 percent tariff. Meanwhile, Canadian and Mexican leaders signaled their responses, indicating a broader push for new international trade frameworks absent U.S. influence.
Wall Street experienced its worst decline since the pandemic in response to President Trump's unexpected tariffs on imports, triggering global market reactions.
European leaders, led by Ursula von der Leyen, pledged retaliation against U.S. tariffs, emphasizing collective action among European nations against U.S. trade policies.
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