Kristolina Georgieva warns against retaliation to US levies while US president insists ‘markets will boom’ after sweeping tariff announcement
Full report: Global markets in turmoil as Trump tariffs wipe $2.5tn off Wall StreetAnalysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economists
In the Pacific, Fiji is the hardest hit by Trump’s tariffs. It has been levied with a 32% tariff, Vanuatu at 22% and Nauru at 30%.
Fiji prime minister Sitiveni Rabuka said the move was akin to a “trade blockade” that his country could not win.
Today was the worst stock market experience in five years. Usually when you have a terrible stock market experience, it’s because a bank fails, a pandemic, a hurricane or because some other country does something.
We don’t have these kinds of stock market responses in response to policies that the President of the United States is proud of. That is something that is entirely without precedent. It is extremely dangerous.
If any administration of which I was a part had launched an economic policy so totally ungrounded in serious analysis or so dangerous and damaging, I would have resigned in protest.
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Source link : https://www.theguardian.com/us-news/live/2025/apr/04/us-business-stock-markets-nyse-blog-trump-tariffs-asian-markets
Author : Helen Livingstone
Publish date : 2025-04-04 02:40:00
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