Trade Wars: Global Impact of Trump's Tariffs

The escalation of tariffs by U.S. President Donald Trump has disrupted global markets, pushing towards a potential recession. While Trump paused some tariffs temporarily, duties on Chinese goods have intensified. This ongoing trade tension has caused significant market volatility and concerns from global leaders and businesses alike.

A tumultuous week, marked by U.S. President Donald Trump's tariffs, continues to influence global markets. While Trump has temporarily paused tariffs for several countries, tensions with China run high, fueling recession fears.

Despite efforts by U.S. Treasury Secretary Scott Bessent to ease concerns, market volatility persists. The S&P 500 dropped 3.5% amid uncertainties, with Asian markets mirroring the trend. Amidst this, Japan, Taiwan, and Vietnam are engaging in trade talks with the U.S.

Trump's aggressive stance against China has intensified tariffs on Chinese goods, causing concern among trading partners. Meanwhile, the EU debates its response to U.S. tariffs, as the potential for a trade recession looms over global markets.

(With inputs from agencies.)