In the wake of newly imposed tariffs by the Trump administration, numerous countries, including Taiwan, are reaching out to the US to renegotiate trade terms, with Taiwan specifically aiming for a zero-tariff deal. The situation has also triggered significant market repercussions, as evidenced by a near 11% drop in the S&P 500 index, reflecting investor concern about the ramifications on global trade. Senior officials indicate that these tariffs are a strategy to provoke discussions on new trade agreements, while the European Union prepares potential countermeasures. Traders express mixed sentiments about the future of the market.
"Some Trump officials are claiming that the tariffs are intended to get other world leaders to contact the president on potential new trade deals."
"Investors were nervously awaiting the opening of global stock markets on Monday following a major selloff last week, with the S&P 500 index falling 10.5% after the tariff announcement."
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