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Global Markets Tumble as Trump Imposes Sweeping Tariffs and US Jobs Data Disappoints
london, UK – Stock markets worldwide experienced a meaningful downturn on Friday, August 1, following President Donald Trump’s announcement of new tariffs on numerous trading partners and a disappointing slowdown in U.S. job growth. The dual blows to market sentiment sent major indices into the red,with European markets leading the decline.
Tariff Expansion Rattles International Trade
President trump unveiled a broad list of levies impacting exports from 69 countries, including major economies like Canada, India, Switzerland, brazil, and Taiwan. These new tariffs, set to take effect on August 7, range from 10% to 41% and are designed to increase the U.S. effective tariff rate to approximately 18%, a substantial jump from last year’s 2.3%.
the announcement came just hours before a self-imposed August 1 deadline for governments to negotiate toll-averting deals with the U.S. management. This move escalates ongoing trade tensions, which had previously been the
