Global markets are on edge ahead of President Trump's imminent tariff announcement, which could prompt a trade war. Economists caution that his protectionist policies might slow economic growth and increase prices. With Trump's team still deliberating on tariff structures, companies like Mercedes are anxious, evaluating whether to withdraw certain models from the U.S. market. Moreover, the pharmaceutical company Sandoz warns of potential spikes in healthcare costs and impacts on drug availability due to the looming trade tensions. The immediate implementation of tariffs adds to the uncertainty.
Global markets are mostly lower ahead of President Trump's big tariffs rollout today, with economists warning that his protectionist policies could trigger a global trade war.
As of yesterday, Trump's team was still debating what the reciprocal tariffs would look like, raising questions about their structure and potential impact on the economy.
The uncertainty surrounding the tariff announcement has forced companies to scramble, with firms like Mercedes reconsidering their market strategies in response to anticipated auto tariffs.
Sandoz, the European pharma giant, expressed concerns that the trade war could increase healthcare costs and limit drug availability for consumers.
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