Global stocks slide as Trump imposes tariffs on imports
Feb 03, 2025
Global stock markets went down as President Trump imposed tariffs on imports from countries like Canada, Mexico, and China. This means adding a tax on goods coming into the United States from these nations. This made the value of the dollar stronger, oil prices higher, and U.S. stock market futures lower. Many Asian markets, like Taiwan, South Korea, and Japan, were affected the most. Car manufacturers' stocks also dropped because they make cars in different countries and share parts from all over. President Trump also talked about adding tariffs to the EU, but said the U.K. might be treated differently. The dollar became more valuable compared to other money like the euro or the Mexican peso.
This news caused a lot of confusion and worry among people who invest in the stock market. They were not sure about how this would affect their money. It also made things more expensive for people who buy goods from other countries. This is a big deal because many things people use every day come from different parts of the world. The government is trying to protect businesses in the United States, but it can also cause problems for people in other countries who rely on trading with us. It is important to keep an eye on what is happening in the world so we can understand how it might affect us.