President Trump announced a plan imposing extensive tariffs on nearly all of America's trading partners, causing an immediate negative reaction in global markets. The S&P 500 experienced its worst drop since 2020, while significant tech companies like Apple and Amazon faced sharper declines. Both Democratic and some Republican lawmakers, alongside business groups, voiced their concerns about these tariffs, predicting increased consumer prices and slowed hiring. Economic experts warned that if maintained long-term, these tariffs could destabilize the job market, triggering retaliation from international leaders, including notable responses from the E.U. and Canada.
President Trump’s unveiling of expansive tariffs on nearly all trading partners sparked significant market reactions, indicating widespread concerns over the potential impacts on the economy.
Economists warned that prolonged tariffs could negatively affect American consumers and the job market, with concerns raised about the rationale behind such drastic measures in a strong economy.
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