Following President Trump's announcement of widespread tariffs, including 10% on British goods, London's FTSE 100 Index fell sharply by 1.4%. European shares also took a hit, with Germany's DAX and France's CAC 40 down over 2%. As investors sought refuge in gold, which reached new highs, analysts voiced concerns about retaliation from affected countries and global supply chain disruptions. US futures also indicated significant declines. This situation marks a notable shift in international trade dynamics, with potential long-term implications.
Unlike previous trade tensions that mainly centred on US-China disputes, this round of tariffs is broader in scope, targeting multiple strategic industries such as electric vehicles, semiconductors, steel, and renewable energy.
Trump's bold attempt to reshape international trade has sent shockwaves through global markets. The effects of 'Liberation Day' are being felt far and wide, with Asian markets down overnight and European stocks under pressure.
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