SINGAPORE: US President Donald Trump’s sweeping tariff plans battered world markets once more on Monday (Apr 7) after he stated international governments must pay “some huge cash” to get the levies eliminated, whereas US shares acquired a short elevate on hints of a pause, solely to slip once more.
Asian and European shares plunged and oil costs plummeted as buyers feared the duties Trump likened to “medication to repair one thing” may result in larger costs, weaker demand and doubtlessly a worldwide recession.
Hong Kong’s Cling Seng index led the Asian inventory plunge, plummeting greater than 13 per cent on its worst day for the reason that 1997 Asian monetary disaster. European shares additionally opened sharply within the purple.
Trump warned he would impose an extra 50 per cent tariff on China if it didn’t take away its retaliatory 34 per cent tariff by Tuesday.
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