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Trump’s China tariff shock sparks a global market sell-off

By Ilene
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Trump's surprise threat of a new 10% tariff on China sent Asian markets into a tailspin. Carl Court/Pool—Getty Images

Trump’s China tariff shock sparks a global market sell-off

  • A Trump surprise on Thursday sparked a global sell-off on Friday, as the U.S. president cemented his drive to upend the global trading system with tariffs, including a surprise new tariff on China. The S&P 500 dropped by 1.6% in Thursday trading, erasing all the index’s gains for the year so far. Asia and Europe market then reacted with steep declines.
On Thursday, Donald Trump took to social media to complain that illegal drugs were still entering the U.S. at “very high and unacceptable levels.” In his post, Trump affirmed that previously announced 25% tariffs on Canada and Mexico would go into effect on March 4…
 
 

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