US investment future plunged on Friday, pointing to deeper costs on Wall Street after China struck back with new taxes in response to the Trump administration’s sweeping transfer jobs. The tit-for-tat walk intensified investment concerns, sending international markets into a spiral and wiping out billion in equity worth.
The fallout from Washington’s latest tariff offensive, estimated to have already erased$ 2.4 trillion from US markets, sparked immediate retaliation from Beijing, which imposed 34 per cent duties on American imports and announced plans to file a complaint at the World Trade Organisation ( WTO ).
Former US government director Lawrence Summers, a Harvard professor, slammed the industry conflict triggered by Trump’s plans. ” Now was the worst investment business practice in five times. Often when you have a bad property market knowledge, it’s because a lender fails, a crisis, a cyclone or because some other region does something”.
” We don’t have these types of share market responses in response to procedures that the President of the United States is proud of. That is something that is wholly without precedence. It is extremely dangerous”, he added.
Social media reflected the deep split in public attitude. Reviewers lambasted Trump’s business methods, blaming them for job loss and economic uncertainty. Gabe Sanchez, political commentator and number of What Was That Show, cited March’s 205 per cent wave in cutbacks as a direct result of the escalating trade war.
” Cuts in the US surged 205 per share in March, hitting 275, 240 work reduces- the worst since the top of the pandemic in 2020. Trump has kicked off a deal conflict based on false numbers. And today? The property market is in freefall”, he said in a blog.
Adding energy to the discussion, Trump’s internet venture, Truth Social, was reported to have moved to unload stock just days before the taxes were announced. A later Tuesday processing revealed Trump Media and Technology Group’s plan to sell over 142 million stock, raising concerns about inside vision.
Meanwhile, former Obama campaign head Jon Cooper pointed to China’s sharp retaliation as a major cause behind the worsening business slide. ” Financial areas are now plunging also more”, he said, warning of the global financial consequences.
Despite the reaction, Trump remained stubborn. Speaking to reporters before departing for his Florida sport hotel, he predicted a property market “boom” and confirmed sweeping fresh levies, a blanket 10 per cent import duty on all places starting Saturday, with sharper charges targeting find countries to follow next week.
