Global Markets Plummet as Trump’s Tariffs Ignite Trade War Fears

The Guardian,

On April 5, 2025, President Donald Trump’s 10% universal tariff on UK goods took effect, part of a sweeping revision of U.S. trade policy that has sparked global anxiety over a potential trade war. Additional “reciprocal tariffs” target countries with significant trade surpluses with the U.S., such as Taiwan and Israel, which face duties of up to 32% and 17% respectively. The markets responded sharply, with the FTSE 100 and Dow Jones experiencing their steepest declines since the pandemic. Prime Minister Keir Starmer is engaged in diplomatic discussions with leaders from Australia and Italy, prioritizing national interest and ongoing talks with the U.S. for exemptions. Meanwhile, Taiwan’s president convened ICT industry leaders and unveiled a $2.67 billion aid package to cushion the impact, and Israel’s Prime Minister Netanyahu is expected to negotiate with Trump directly. Canada and Italy have called for restraint, warning against retaliatory tariffs. Automaker Nissan is already shifting production to the U.S., anticipating cost hikes. The international reaction underscores concerns over escalating economic disruptions and the realignment of global trade norms.

Stock Market Crash Raises Recession Alarms Amid Tariff Fallout

Business Insider,

The stock market faced a severe downturn this week, marking its worst performance since 2020. The S&P 500 dropped nearly 7%, and the Nasdaq 100 officially entered bear market territory, largely due to the economic fallout from newly announced tariffs by the Trump administration. Experts warn that these “Liberation Day” tariffs have significantly increased the risk of a U.S. and potentially global recession. John Hussman highlighted his firm’s recession indicator flashing a warning, while JPMorgan raised its recession probability estimate from 40% to 60%. Analysts stress that the trade tensions, if unresolved, could severely impact global economic growth. In response to the economic stress, financial experts predict the Federal Reserve may implement as many as four to five interest rate cuts in 2025. Jason Pride and others suggest the Fed will act quickly, given the growing risks. Market strategists believe investor confidence has sharply deteriorated, declaring the bull market over. Tech and AI sectors are seen as particularly vulnerable due to their reliance on international supply chains. The outlook remains grim unless trade disputes are resolved, with the current trajectory threatening both U.S. economic stability and global markets.

China Retaliates with 34% Tariffs as Trade Tensions Escalate

The Times,

President Trump’s sweeping tariffs have triggered global economic upheaval, with markets worldwide reacting sharply. China retaliated by imposing a 34% tariff on all U.S. goods and filing a complaint with the World Trade Organization, accusing the U.S. of “unilateral bullying.” Major U.S. stock indices, including the S&P 500 and Nasdaq, fell by nearly 3%, and key financial stocks like Morgan Stanley and JP Morgan tumbled. European and Asian markets also dropped significantly, with fears of a global recession escalating. Trump defended the tariffs as necessary to reassert U.S. manufacturing, despite economists warning of increased consumer prices and strained trade relationships. UK exports to the U.S. will face 10% tariffs, prompting concerns from British officials, though debate continues over whether retaliatory measures or negotiations are the best approach. Other countries, including South Korea, Japan, and South Africa, expressed alarm over economic impacts. While Russia, excluded from new U.S. tariffs due to existing sanctions, remains cautious, China responded with export controls on rare earths. Global stock markets saw continued declines, and firms with U.S. ties explored reshoring operations as a mitigation strategy. Amid the backlash, Trump’s administration insists the measures are critical to revamping a broken trade system and encouraging domestic investment.

Nationwide Protests Erupt Against Trump’s Policies

Reuters,

On April 5, 2025, opponents of President Donald Trump organized approximately 1,200 demonstrations across the United States, marking the largest single day of protest since the administration’s rapid policy shifts. The protests, spanning all 50 states, were primarily aimed at expressing dissent against the President’s recent actions, including the imposition of sweeping tariffs and other economic policies perceived as favoring the wealthy elite. In Washington, D.C., a central rally drew thousands of participants, voicing concerns over the administration’s direction and its impact on the average American. Organizers emphasized the need to highlight what they describe as the dismantling of governmental structures and economic systems for the benefit of a select few. The widespread nature of these protests underscores the growing public unrest and division over the current administration’s policies and their long-term implications for the nation.

Myanmar Earthquake Death Toll Surpasses 3,000

Xinhua,

The devastating earthquake that struck Myanmar on March 28 has resulted in a death toll exceeding 3,000, with thousands more injured. The 7.7-magnitude quake caused widespread destruction, particularly in the regions of Sagaing, Mandalay, and Naypyidaw. International aid has begun to arrive, with countries such as China, Thailand, and the United States offering assistance. Rescue operations are ongoing, but efforts are hampered by damaged infrastructure and aftershocks. The Myanmar government has declared a state of emergency and is coordinating relief efforts to support affected communities.

Dubai World Cup Emerges as Premier Racing Event

Talksport,

The 2025 Dubai World Cup, held on April 5 at Meydan Racecourse, has solidified its status as a premier event in the global horse racing calendar. With a staggering $30.5 million total prize pool, including $12 million for the main race and a $7 million winner’s share, it has surpassed the UK’s Grand National in prestige and financial magnitude.