Trump tariffs: How financial markets are responding
Global News
European and Asian shares were mostly lower Tuesday after a new round of tariffs imposed by U.S. President Donald Trump took effect.
European and Asian shares were mostly lower Tuesday after a new round of tariffs imposed by U.S. President Donald Trump took effect.
China hit back at Washington’s move to raise tariffs by 20% across the board with higher duties of up to 15 per cent on U.S. farm exports.
Germany’s DAX slipped 1.8 per cent to 22,733.26 while in Paris the CAC 40 declined 1.1 per cent to 8,108.71. Britain’s FTSE 100 lost 0.4 per cent to 8,837.92.
The future for the S&P 500 rose 0.1% while that for the Dow Jones Industrial Average was unchanged.
In Asian trading, Tokyo’s Nikkei 225 dropped 1.2 per cent to 37,331.18, while the Hang Seng in Hong Kong lost 0.4 per cent to 22,922.16. The Shanghai Composite index edged 0.2 per cent higher to 3,324.21.
South Korea’s Kospi gave up 0.2 per cent to 2,528.92. Taiwan’s Taiex shed 0.7 per cent, while Bangkok’s SET lost 1.1 per cent.
On Monday, the S&P 500 dropped 1.8 per cent after Trump said there was “no room left” for negotiations that could lower the tariffs that took effect Tuesday for imports from Canada and Mexico. Trump had already delayed the tariffs once before to allow more time for talks.
The Dow dropped 1.5 per cent and the Nasdaq composite slumped 2.6 per cent.
Trudeau was in London for a weekend security summit, making Canada the only non-European nation represented in talks on how to ensure a possible Ukraine ceasefire holds.
British Prime Minister Keir Starmer said he had worked with France and Ukraine on plan to end the war and that the group of leaders — mostly from Europe —had agreed on four things.
The first phase of the ceasefire, which included a surge in humanitarian assistance, expired on Saturday but a second phase has yet to be negotiated.
The Vatican distributed a message from the pope in which he thanked his doctors for their care and well-wishers for their prayers after he skipped his weekly noon blessing.
Rebellion Brewing says if tariffs come into effect, it may have to look at alternative suppliers, but it is not a prospect the company is looking forward to.
British Prime Mininister Keir Starmer embraced Ukrainian President Volodymyr Zelenskyy on his arrival to 10 Downing St. and said the U.K. stands with Ukraine.
The summit was announced earlier in the week to involve European leaders, but takes on a new focus with Ukrainian President Volodymyr Zelenskyy attending.
Many Ukrainians expressed a sense that the Ukrainian leader had stood up for their country’s dignity and interests during the tense meeting with Trump and Vance.
Doctors said it would take a day or two to evaluate how and if the Friday afternoon episode impacted Francis’ overall clinical condition.
British Prime Minister Keir Starmer said the invite 'symbolizes the strength of the relationship' between the U.K. and the U.S.