The global stock markets faced a dramatic decline of over $2 trillion as investors reacted to President Trump's recent announcement of extensive tariffs. The tariffs, affecting nearly every country, were more severe than anticipated, causing significant concern over their implications for both U.S. and global economic growth. Analysts highlighted the contradiction in Trump's approach of attempting to radically alter long-standing trade practices while also providing exemptions to protect certain sectors, suggesting the administration can't expect favorable outcomes without facing the consequences of such drastic changes in trade policy.
Markets have voted this is obviously bad for U.S. and world growth," wrote Derek Holt, vice-president and head of capital markets economics at Scotiabank.
The U.S. can't have its cake and eat it, too," says Karl Schamotta, chief market strategist at the financial services firm Corpay.
If you overturn that world order, you're going to pay the cost," he says. "The question is whether [Trump] will have the stomach to stick with it...
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