Trump’s threat is the latest tit-for-tat between the U.S. and China in the last week
The dollar index rallied sharply following Trump’s win on Nov. 5
Trump’s tariffs cover some 70% of the EU’s exports to the United States
China’s Finance Ministry announced it would impose a 34% tariff on all goods imported from the U.S.
Senate Republicans contend the cost is $1.5 trillion
The S&P 500 nosedived 5.97% to 5,074.08, the biggest decline since March 2020
The Stoxx 600 closed 2.57% lower on Thursday
The drop in rates comes at a good time for the housing market
Powell stressed that meeting the inflation side of its mandate will require keeping inflation expectations in check
It could be used to reduce the US national deficit
Deutsche Bank warned that the euro area’s gross domestic product could suffer a hit of 0.4-0.8 percentage points
China also added 11 U.S. firms to the “unreliable entities list” that the Beijing administration says have violated market rules
The Nasdaq composite fell 1,050.44 points, or 6%
Markets are still digesting tariffs
The regional Stoxx 600 index ended down around 2.7%
The U.K. has “a fair and balanced trade relationship with the U.S.”
South Africa seeks to negotiate a new “bilateral and mutually beneficial trade agreement”
The additional U.S. duties on India come to 27%
Pharmaceutical companies breathed a sigh of relief
The International Monetary Fund most recently assessed that the economy of Poland, which has historically maintained close relations with the U.S., would expand by 3.5%
The Dow gained 235.36 points to hit 42,225.32
Investors shrugged off mostly bearish U.S. government crude inventory data
Trump said last month that he planned to announce car tariffs “very shortly”
The partners have been working with a consortium of investors
Canada has imposed 25% tariffs on more than $20 billion worth of U.S. goods
In the first quarter of 2024, Tesla reported 386,810 deliveries
President Donald Trump’s aggressive tariffs could deter firms from adding to headcount
The tech-rich Nasdaq Composite also finished in the green
The highest annual inflation rates were in Croatia, Estonia, and Slovakia at 4.3% each
The reciprocal tariffs follow a bevy of other import duties