Trump declares deficit emergency—Sweeping tariffs unleashed
In a dramatic Rose Garden address, President Trump declared a national emergency over the U.S. deficit, unleashing sweeping reciprocal tariffs on imports. The move has rattled global markets, sparked fierce debates among trade partners, and is set to reshape international commerce. Critics warn of economic fallout while allies brace for retaliatory measures. This bold pivot in economic policy is igniting a trade war that may alter the future of global trade and U.S. economic relations.
24 Hours – President Trump declared a deficit emergency and launched sweeping reciprocal tariffs on imports, triggering a global trade war. European and Chinese leaders have vowed retaliation, sending Asian markets plunging and stock futures tumbling. Auto prices are set to surge while business groups sound the alarm. Political fissures deepen in Washington as dissent grows among GOP senators. Severe weather continues to batter the US Midwest, and humanitarian appeals surge from earthquake‐stricken Myanmar. Innovation in medical technology makes headlines even as global economic and diplomatic tensions escalate. Trade turmoil intensifies; markets and alliances hang in the balance. Trade war intensifies.
Count – 54% - Highest imposed tariff rate on Chinese imports
Quote – "We have an American president saying no more to the U.S. being the world’s piggy bank." — JD Vance
Asian markets plunge—Tariff shock sends stocks tumbling
Stock futures dive—Global investors scramble amid trade war
Reciprocal tariff chart unveiled—World trade in turmoil
EU gears up for counters—Trump strikes a global nerve