{"id":17925,"date":"2025-04-07T10:23:49","date_gmt":"2025-04-07T10:23:49","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/stocks-in-asia-and-europe-fall-sharply-as-trump-doubles-down-on-global-tariffs-live-updates\/"},"modified":"2025-04-07T10:23:49","modified_gmt":"2025-04-07T10:23:49","slug":"stocks-in-asia-and-europe-fall-sharply-as-trump-doubles-down-on-global-tariffs-live-updates","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/stocks-in-asia-and-europe-fall-sharply-as-trump-doubles-down-on-global-tariffs-live-updates\/","title":{"rendered":"Stocks in Asia and Europe Fall Sharply as Trump Doubles Down on Global Tariffs: Live Updates"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<p>Since re-entering office, President Trump has issued a flurry of tariffs in an effort to rewire the global economy.<\/p>\n<p>On Wednesday, Mr. Trump unveiled his most aggressive policies to date, sparing few countries around the world. A 10 percent base line rate for the world went into effect on Saturday, with much higher ones for dozens of counties coming next week.<\/p>\n<div>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Mr. Trump\u2019s moves have caused financial markets to plummet, foreign leaders to issue condemnations and officials to warn about inflation and slowing economic growth.<\/p>\n<h2 class=\"live-blog-post-content css-19v2tje eoo0vm40\" id=\"link-3e820ac3\">What are tariffs, and who pays for them?<\/h2>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">A tariff is a government surcharge on products imported from other countries.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Tariffs are paid by the companies that import the goods. For example, if Walmart imports a $10 shoe from Vietnam \u2014 which faces a 46 percent tariff \u2014 Walmart will owe $4.60 in tariffs to the U.S. government.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">What happens next?<\/p>\n<ul class=\"live-blog-post-content css-1ie9vib ez3869y0\">\n<li class=\"css-1i3ul0c eoqvrfo0\">\n<p class=\"css-1il0jfh evys1bk0\">Walmart could try to force the cost onto the Vietnamese shoe manufacturer, by telling it Walmart will pay less for the product.<\/p>\n<\/li>\n<li class=\"css-1i3ul0c eoqvrfo0\">\n<p class=\"css-1il0jfh evys1bk0\">Walmart could cut into its own profit margins and absorb the cost of the tariff.<\/p>\n<\/li>\n<li class=\"css-1i3ul0c eoqvrfo0\">\n<p class=\"css-1il0jfh evys1bk0\">Walmart could raise the price of the shoes at its stores.<\/p>\n<\/li>\n<li class=\"css-1i3ul0c eoqvrfo0\">\n<p class=\"css-1il0jfh evys1bk0\">Or, some combination of the above.<\/p>\n<\/li>\n<\/ul>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Economists found that, when Mr. Trump put tariffs on China in his first term, most of that cost was passed on to consumers. But economic studies found that his tariffs on foreign steel were a bit different; only about half of those costs were passed on to customers.<\/p>\n<h2 class=\"live-blog-post-content css-19v2tje eoo0vm40\" id=\"link-5e62fe02\">Why is Trump imposing tariffs?<\/h2>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">The president and his advisers say their goal is to make the tariffs so painful that they force companies to make their products in the United States. They argue that this will create more American jobs and push up wages.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">But Mr. Trump has also described tariffs as an all-purpose tool, forcing Canada, Mexico and China to crack down on the flow of drugs and migrants into the United States. The president also maintains that tariffs will rake in huge sums of revenue that the government can use to pay for tax cuts.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Economists say that tariffs cannot simultaneously achieve all of the goals that Mr. Trump has expressed. In fact, many of his aims contradict one another. The same tariffs that are supposed to boost U.S. manufacturing are also making life painful for U.S. manufacturers, by disrupting their supply chains and raising the cost of their raw materials.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cAll of these tariffs are internally inconsistent with each other,\u201d said Chad Bown, a senior fellow at the Peterson Institute for International Economics, a Washington think tank. \u201cSo what is the real priority? Because you can\u2019t have all those things happen at once.\u201d<\/p>\n<h2 class=\"live-blog-post-content css-19v2tje eoo0vm40\" id=\"link-13e649b\">How were the tariffs calculated?<\/h2>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">The White House put out <a class=\"css-yywogo\" href=\"https:\/\/ustr.gov\/issue-areas\/reciprocal-tariff-calculations\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">a complicated-looking formula<\/a>, but <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/02\/business\/economy\/trump-tariff-rates-calculation.html\" title=\"\">one explanation appears<\/a> to be straightforward: the gap between what America exports to a country and what it imports.<\/p>\n<div class=\"css-1dzyl5h\">\n<section data-testid=\"inline-interactive\" id=\"2025-04-02-tariff-math-equation-china\" data-id=\"100000010088889\" data-source-id=\"100000010088889\" class=\"interactive-content interactive-size-scoop css-1vobcg1\">\n<div class=\"css-17ih8de interactive-body\" slug=\"2025-04-02-tariff-math-equation-china\" data-sourceid=\"100000010088889\" id=\"embed-id-100000010088889\">\n<p>    <!-- birdkit: do not modify this file --><\/p>\n<link href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/assets\/index.XAdi0wJm.css\" rel=\"stylesheet\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/entry\/start.C6t2KzrW.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/chunks\/D1VZWmDq.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/chunks\/CntV_A22.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/chunks\/n4yFbP3i.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/entry\/app.Dg-0VhYS.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/chunks\/DeyowMiv.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/chunks\/D7G7YanU.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/chunks\/UF9hqPTz.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/nodes\/0.BYSGOVfC.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/nodes\/2.D3l5i_sf.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/chunks\/D2AW_CmY.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-tariff-math\/7c47dfa7-7bf8-4f83-b342-03ae9a499437\/_assets\/_app\/immutable\/chunks\/BxWzlD5r.js\"\/>\n<div id=\"g-GZfOSrg\" class=\"birdkit-body g-GZfOSrg g-dark-mode-incompatible\" data-preview-slug=\"slug-0fxDs0w\" data-birdkit-hydrate=\"961567d7b7044ff2\">\n<p>\t<!--[--><!--[--><!----><!----><!--[--><!--[--><!----><!----><\/p>\n<figure class=\"g-wrapper  svelte-dk6paf g-needs-margin-block\" aria-label=\"graphic\"><!--[--><\/p>\n<div class=\"g-block g-block-margin svelte-rhgw2n g-margin-inline\">\n<div class=\"g-block-width g-max-width-body svelte-rhgw2n\"><!----><!----><!----> <!----><!--[--><\/p>\n<p><!--[--><\/p>\n<h3 class=\"g-heading svelte-1yj9fcz\"><!---->The White House formula for calculating its tariffs<!----><\/h3>\n<p><!--]--> <!--[!--><!--]--><\/p>\n<p><!--]--><!----> <!----><!----><!----><\/div>\n<\/div>\n<p><!--]--> <!--[!--><!--]--> <!----> <!--[--><\/p>\n<div class=\"g-block g-block-margin svelte-rhgw2n g-margin-inline\">\n<div class=\"g-block-width g-max-width-body svelte-rhgw2n\"><!----><!----><!----> <!----><!--[--><\/p>\n<div class=\"g-wrapper_meta g-text-align-center svelte-v3m00m\"><!--[!--><!--]--> <!--[!--><!--]--> <!--[!--><!--]--> <!--[--><\/p>\n<p class=\"g-credit svelte-v3m00m\"><!---->Photo by Carlos Barria\/Reuters; Diagram by Lazaro Gamio<!----><\/p>\n<p><!--]--><\/div>\n<p><!--]--><!----> <!----><!----><!----><\/div>\n<\/div>\n<p><!--]--><!----><\/figure>\n<p><!----><!----><!--]--><!--]--><!----><!----><!----><!--]--> <!--[!--><!--]--><!--]--><\/p><\/div>\n<\/div>\n<\/section>\n<\/div>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Mr. Trump\u2019s point of view appears to be that any trade deficit \u2014 the value of goods the U.S. imports from a country, minus what the U.S. sends it as exports \u2014 is bad, and tariffs will be applied until it is eliminated.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">He has long described bilateral trade deficits as examples of America being \u201cripped off\u201d or \u201csubsidizing\u201d other countries.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">In the White House tariff calculations, countries that send the United States more goods than they buy were deemed to have \u201cunbalanced\u201d trade and will face higher tariffs.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">This formula doesn\u2019t account for the fact that some countries are better at making certain products, a concept known as comparative advantage. And economists say it is nonsensical to force countries to exactly equalize their exports and imports to and from the United States.<\/p>\n<h2 class=\"live-blog-post-content css-19v2tje eoo0vm40\" id=\"link-5aef59c0\">How have financial markets reacted?<\/h2>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Wednesday\u2019s announcement set off a global rout in stock markets as worries deepened about a trade war. Those worries were largely confirmed after <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/04\/business\/china-trump-tariffs-retaliation.html\" title=\"\">China retaliated<\/a> against Mr. Trump\u2019s sweeping tariffs with steep levies of its own on U.S. goods.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">The S&amp;P 500, the benchmark U.S. index, <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/04\/business\/trump-stocks-tariffs-trade.html\" title=\"\">fell 6 percent on Friday<\/a>, bringing its losses for the week to 9.1 percent. It was the steepest weekly decline since the early days of the coronavirus pandemic in March 2020.<\/p>\n<div class=\"css-1dzyl5h\">\n<section data-testid=\"inline-interactive\" id=\"2025-04-02-world-stock-markets-inauguration-world-stock-markets-inauguration\" data-id=\"100000010088720\" data-source-id=\"100000010088720\" class=\"interactive-content interactive-size-scoop css-174j8de\">\n<div class=\"css-17ih8de interactive-body\" slug=\"2025-04-02-world-stock-markets-inauguration-world-stock-markets-inauguration\" data-sourceid=\"100000010088720\" id=\"embed-id-100000010088720\">\n<p><!-- Generated by ai2html v0.121.1 - 2025-04-07 17:31 --><br \/>\n<!-- ai file: world-stock-markets-inauguration.ai --><\/p>\n<div id=\"g-world-stock-markets-inauguration-box\" class=\"ai2html ai2html-responsive\" role=\"img\" aria-describedby=\"g-world-stock-markets-inauguration-box-img-desc\">\n<p>A line chart showing the stock markets of 6 countries since Trump\u2019s inauguration.<\/p>\n<p>\t<!-- Artboard: 335 --><\/p>\n<div id=\"g-world-stock-markets-inauguration-335\" class=\"g-artboard\" style=\"max-width: 335px;max-height: 582px\" data-aspect-ratio=\"0.575\" data-min-width=\"0\" data-max-width=\"599\">\n<p>\t\t<img decoding=\"async\" id=\"g-world-stock-markets-inauguration-335-img\" class=\"g-world-stock-markets-inauguration-img g-aiImg\" alt=\"\" src=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-world-stock-markets-inauguration\/4565295b-a90d-4ea5-ae7d-956e52a83129\/_assets\/world-stock-markets-inauguration-335.png\" bad-src=\"data:image\/gif;base64,R0lGODlhCgAKAIAAAB8fHwAAACH5BAEAAAAALAAAAAAKAAoAAAIIhI+py+0PYysAOw==\"\/><\/p><\/div>\n<p>\t<!-- Artboard: 600 --><\/p>\n<div id=\"g-world-stock-markets-inauguration-600\" class=\"g-artboard\" style=\"width:600px; height:582.418078937792px;\" data-aspect-ratio=\"1.03\" data-min-width=\"600\">\n<p>\t\t<img decoding=\"async\" id=\"g-world-stock-markets-inauguration-600-img\" class=\"g-world-stock-markets-inauguration-img g-aiImg\" alt=\"\" src=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-04-02-world-stock-markets-inauguration\/4565295b-a90d-4ea5-ae7d-956e52a83129\/_assets\/world-stock-markets-inauguration-600.png\" bad-src=\"data:image\/gif;base64,R0lGODlhCgAKAIAAAB8fHwAAACH5BAEAAAAALAAAAAAKAAoAAAIIhI+py+0PYysAOw==\"\/><\/p><\/div>\n<\/div>\n<p><!-- End ai2html - 2025-04-07 17:31 -->\n<\/div>\n<\/section>\n<\/div>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Losses were widespread, hitting technology companies as well as firms that rely on Chinese manufacturing in their supply chains. Apple shares dropped more than 13 percent over the week. Shares in Caterpillar, which makes construction equipment, tumbled nearly 11 percent.<\/p>\n<h2 class=\"live-blog-post-content css-19v2tje eoo0vm40\" id=\"link-5a94bc96\">How have U.S. trading partners responded?<\/h2>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">China<\/strong> said it would impose <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/04\/business\/china-trump-tariffs-retaliation.html?smid=url-share\" title=\"\">34 percent tariffs<\/a> on all U.S. products, matching the levies that Mr. Trump announced this week on Chinese goods. It also barred 11 American companies from doing business in China, and customs authorities said that they would halt chicken imports from five of America\u2019s biggest agricultural exporters.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">The European Union<\/strong> said it was preparing countermeasures to the new Trump tariffs, after announcing earlier retaliatory measures that were <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/03\/20\/world\/europe\/us-tariffs-eu-whiskey.html\" title=\"\">concentrated<\/a> on a wide variety of goods, including whiskey, motorcycles and women\u2019s clothing. E.U. officials are also considering trade barriers on services, using <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/02\/business\/dealbook\/trump-tariffs-europe-response.html\" title=\"\">a new trade weapon<\/a> that was developed only in 2021 to target Big Tech and Wall Street.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">Canada <\/strong>has vowed to defend its workers, businesses and economy from new tariffs and threats from Mr. Trump. Prime Minister Mark Carney recently said it was clear that the United States was \u201c<a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/live\/2025\/03\/27\/business\/trump-tariffs\" title=\"\">no longer a reliable partner<\/a>.\u201d<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">In March, after U.S. steel and aluminum tariffs took effect, the Canadian government said that it would impose new retaliatory tariffs on $20 billion worth of U.S. imports, on top of the 25 percent tariffs announced previously.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">Mexico<\/strong> made a major effort to fend off tariffs, sending more than two dozen accused cartel leaders to the United States to face criminal charges and dispatching troops to fentanyl laboratories and the U.S. border.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">Britain <\/strong>tried to cultivate closer ties to the U.S. but <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/03\/world\/europe\/uk-trump-tariffs.html\" title=\"\">still got swept into Mr. Trump\u2019s tariffs<\/a>.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">South Korea<\/strong> convened an emergency task force and vowed to \u201cpour all government resources to overcome a trade crisis.\u201d<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">Brazil<\/strong> said it was also evaluating retaliatory measures.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">Australia<\/strong> said it would not respond with retaliatory tariffs, as Anthony Albanese, the prime minister, vowed not to \u201cjoin a race to the bottom that leads to higher prices and slower growth.\u201d<\/p>\n<h2 class=\"live-blog-post-content css-19v2tje eoo0vm40\" id=\"link-2803395b\">Which countries are exempt?<\/h2>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/03\/business\/economy\/russia-us-tariffs-trump.html\" title=\"\">Russia was notably absent<\/a> from the countries, large and small, that were hit with new U.S. tariffs.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Treasury Secretary Scott Bessent said Moscow was spared because sanctions imposed on the country after its invasion of Ukraine effectively halted U.S.-Russian trade.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">But trade data paints a more complicated picture. Last year, Russia still exported about $3 billion worth of goods to the United States, according to U.S. trade figures, mostly fertilizer and platinum.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">North Korea, Cuba and Belarus, which are also subject to tough sanctions, were also excluded from the new levies.<\/p>\n<h2 class=\"live-blog-post-content css-19v2tje eoo0vm40\" id=\"link-637e7577\">What happens next?<\/h2>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Jerome H. Powell, the chair of the Federal Reserve, warned on Friday that President Trump\u2019s tariffs risk <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/04\/business\/economy\/powell-trump-tariff-inflation-risk.html\" title=\"\">stoking inflation and slowing down growth<\/a>.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Many analysts quickly downgraded their forecasts for economic growth, saying that tariffs would push up prices for consumers and costs for businesses, slowing demand and economic activity.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Nancy Lazar, chief global economist at Piper Sandler, estimated the U.S. economy might contract 1 percent in the second quarter. She had previously expected a flat quarter. \u201cIt\u2019s an immediate hit to the economy,\u201d she said.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Economists at Fitch Ratings said in a note Thursday that the tariffs had significantly raised the risk for a recession in the United States. It said that tariffs would result in higher consumer prices that would squeeze real wages and weigh on consumer spending.<\/p>\n<h2 class=\"live-blog-post-content css-19v2tje eoo0vm40\" id=\"link-1b63d4eb\">How could tariffs affect consumer prices?<\/h2>\n<div class=\"css-1dzyl5h\">\n<section data-testid=\"inline-interactive\" id=\"import-share-by-country-uqof\" data-id=\"100000009964932\" data-source-id=\"100000009964932\" class=\"interactive-content interactive-size-scoop css-174j8de\">\n<div class=\"css-17ih8de interactive-body\" slug=\"import-share-by-country-uqof\" data-sourceid=\"100000009964932\" id=\"embed-id-100000009964932\">\n<p><!-- Generated by ai2html v0.121.1 - 2025-02-01 19:58 --><br \/>\n<!-- ai file: import-share.ai --><\/p>\n<div id=\"g-import-share-box\" class=\"ai2html ai2html-responsive\" role=\"img\" aria-describedby=\"g-import-share-box-img-desc\">\n<p>A chart showing which countries have the largest share of U.S. imports. Mexico, China and Canada are the three biggest.<\/p>\n<p>\t<!-- Artboard: 335 --><\/p>\n<div id=\"g-import-share-335\" class=\"g-artboard\" style=\"max-width: 599px;max-height: 715px\" data-aspect-ratio=\"0.838\" data-min-width=\"0\" data-max-width=\"599\">\n<p>\t\t<img decoding=\"async\" id=\"g-import-share-335-img\" class=\"g-import-share-img g-aiImg\" alt=\"\" src=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-02-import-share-by-country\/6b4fec19-ce1e-46da-a574-7dc2be9d5ef0\/_assets\/import-share-335.png\" bad-src=\"data:image\/gif;base64,R0lGODlhCgAKAIAAAB8fHwAAACH5BAEAAAAALAAAAAAKAAoAAAIIhI+py+0PYysAOw==\"\/><\/p>\n<div id=\"g-ai0-2\" class=\"g-graphic g-aiAbs g-aiPointText\" style=\"top:15.566%;margin-top:-18.3px;left:49.9408%;margin-left:-86px;width:172px;\">\n<p class=\"g-pstyle1\">Share of U.S. imports<\/p>\n<p class=\"g-pstyle1\">2008-24<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t<!-- Artboard: 600 --><\/p>\n<div id=\"g-import-share-600\" class=\"g-artboard\" style=\"min-width: 600px;\" data-aspect-ratio=\"1.5\" data-min-width=\"600\">\n<p>\t\t<img decoding=\"async\" id=\"g-import-share-600-img\" class=\"g-import-share-img g-aiImg\" alt=\"\" src=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-02-import-share-by-country\/6b4fec19-ce1e-46da-a574-7dc2be9d5ef0\/_assets\/import-share-600.png\" bad-src=\"data:image\/gif;base64,R0lGODlhCgAKAIAAAB8fHwAAACH5BAEAAAAALAAAAAAKAAoAAAIIhI+py+0PYysAOw==\"\/><\/p>\n<div id=\"g-ai1-2\" class=\"g-graphic g-aiAbs g-aiPointText\" style=\"top:20.066%;margin-top:-18.3px;left:49.967%;margin-left:-86px;width:172px;\">\n<p class=\"g-pstyle1\">Share of U.S. imports<\/p>\n<p class=\"g-pstyle1\">2000-24<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p><!-- End ai2html - 2025-02-01 19:58 -->\n<\/div>\n<\/section>\n<\/div>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Mr. Trump\u2019s tariffs target countries that supply a wide variety of goods to the United States. For American families, <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/03\/31\/business\/trump-tariffs-higher-prices.html\" title=\"\">the very likely result is higher prices<\/a> at grocery stores, car dealerships, electronics retailers and clothing outlets.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Avocados, tomatoes and strawberries imported from Mexico are some of the first places where shoppers might notice an uptick in prices.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">It could take longer for prices to rise for durable goods, like cars, because of existing inventory, or if companies expect the tariffs to be temporary.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">The Yale Budget Lab estimated that <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/04\/03\/business\/trump-auto-tariffs-car-prices.html\" title=\"\">Mr. Trump\u2019s new auto tariffs<\/a>, which took effect on Thursday, would raise vehicle prices 13.5 percent on average, the equivalent of an additional $6,400 for the price of an average new 2024 car. In total, American households <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2025\/03\/27\/us\/politics\/trump-car-tariffs-trade-strategy.html\" title=\"\">would pay $500 to $600 more<\/a>, on average, as a result of the tariffs, the group estimated.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Mr. Trump has argued the price increases would be minimal compared with other economic benefits, and has repeated that sentiment. Over the weekend, the NBC News correspondent Kristen Welker asked the president whether he was concerned that tariffs could make cars more expensive. Mr. Trump replied that he \u201ccouldn\u2019t care less.\u201d<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">\u201cIf the prices on foreign cars go up, they\u2019re going to buy American cars,\u201d he said of consumers.<\/p>\n<h2 class=\"live-blog-post-content css-19v2tje eoo0vm40\" id=\"link-3a304fc9\">What does it mean to be American made?<\/h2>\n<div class=\"css-1dzyl5h\">\n<section data-testid=\"inline-interactive\" id=\"car-import-embed\" data-id=\"100000010034828\" data-source-id=\"100000010034828\" class=\"interactive-content interactive-size-scoop css-1vobcg1\">\n<div class=\"css-17ih8de interactive-body\" slug=\"car-import-embed\" data-sourceid=\"100000010034828\" id=\"embed-id-100000010034828\">\n<p>    <!-- birdkit: do not modify this file --><\/p>\n<link href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/assets\/index.DZCNQUz4.css\" rel=\"stylesheet\"\/>\n\t\t<link href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/assets\/index.CyB6tk6K.css\" rel=\"stylesheet\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/entry\/start.C3x4ZrBE.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/chunks\/DpRYZ0IX.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/chunks\/C0l2QXI8.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/chunks\/CyV8N9rS.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/entry\/app.BQRCbfOE.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/chunks\/C_ZGd-Bt.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/chunks\/C__vxhTk.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/chunks\/BmeqV-rR.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/nodes\/0.Cc_D8qNm.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/nodes\/2.8E_pW0s4.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/chunks\/DbCxgDvY.js\"\/>\n\t\t<link rel=\"modulepreload\" href=\"https:\/\/static01.nytimes.com\/newsgraphics\/2025-02-28-car-import-tariff\/89281350-75bf-451a-b0fc-5174fd6fe3c4\/_assets\/_app\/immutable\/chunks\/DpQp_qh2.js\"\/>\n<div id=\"g-2025-02-28-car-import-tariff\" class=\"birdkit-body g-2025-02-28-car-import-tariff g-dark-mode-incompatible\" data-preview-slug=\"2025-02-28-car-import-tariff\" data-birdkit-hydrate=\"9f05b299833c65b6\">\n<p>\t<!--[--><!--[--><!----><!----><!--[--><!--[--><!----><!----><\/p>\n<figure class=\"g-wrapper  svelte-zyvdx9 g-needs-margin-block\" style=\"\" aria-label=\"graphic\"><!--[--><\/p>\n<div class=\"g-block g-block-margin svelte-rhgw2n g-margin-inline\" style=\"\">\n<div class=\"g-block-width g-max-width-body svelte-rhgw2n\"><!----><!----><!----> <!----><!--[--><\/p>\n<div class=\"g-wrapper_hed g-text-align-left svelte-1yj9fcz\"><!--[--><\/p>\n<h3 class=\"g-heading svelte-1yj9fcz g-has-leadin\"><!---->What\u2019s an Import?<!----><\/h3>\n<p><!--]--> <!--[--><\/p>\n<p class=\"g-leadin svelte-1yj9fcz\"><!---->National borders blur in vehicle production, with parts often sourced from around the world.<!----><\/p>\n<p><!--]--><\/div>\n<p><!--]--><!----> <!----><!----><!----><\/div>\n<\/div>\n<p><!--]--> <!--[!--><!--]--> <!----> <!--[--><\/p>\n<div class=\"g-block g-block-margin svelte-rhgw2n g-margin-inline\" style=\"\">\n<div style=\"max-width: 900px;\" class=\"g-block-width g-max-width-900px svelte-rhgw2n\"><!----><!----><!----> <!----><!--[--><\/p>\n<div class=\"g-wrapper_meta g-text-align-left svelte-v3m00m\"><!--[!--><!--]--> <!--[--><\/p>\n<p class=\"g-source svelte-v3m00m\"><!---->Source: The National Highway Traffic Safety Administration<!----><\/p>\n<p><!--]--> <!--[!--><!--]--> <!--[--><\/p>\n<p class=\"g-credit svelte-v3m00m\"><!---->The New York Times<!----><\/p>\n<p><!--]--><\/div>\n<p><!--]--><!----> <!----><!----><!----><\/div>\n<\/div>\n<p><!--]--><!----><\/figure>\n<p><!----><!----><!--]--><!--]--><!----><!----><!----><!--]--> <!--[!--><!--]--><!--]--><\/p><\/div>\n<\/div>\n<\/section>\n<\/div>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Nearly half of all vehicles sold in the United States are imported, as well as nearly 60 percent of the parts used in vehicles assembled in the United States.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">Since the North American free trade zone was created in 1994, American and foreign-owned automakers have built <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/interactive\/2025\/03\/04\/business\/economy\/car-tariffs.html\" title=\"\">supply chains that cross the borders<\/a> of the United States, Canada and Mexico.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\">For example, the 2024 Chevrolet Blazer, a popular sport utility vehicle made by General Motors, is assembled at a plant in Mexico using engines and transmissions that are produced in the United States.<\/p>\n<h2 class=\"live-blog-post-content css-19v2tje eoo0vm40\" id=\"link-1359a57a\">What is the history of tariffs in the U.S.?<\/h2>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">1789:<\/strong> At its founding, the <a class=\"css-yywogo\" href=\"https:\/\/fraser.stlouisfed.org\/title\/tariff-1789-hamilton-tariff-5884\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">United States relied heavily on tariffs<\/a> to finance the federal government and protect domestic manufacturers, as proposed by Alexander Hamilton, the first Treasury secretary.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">1828:<\/strong> The federal government passed tariffs averaging 38 percent to shield the country\u2019s manufacturing sector from foreign competitors. These were labeled the \u201c<a class=\"css-yywogo\" href=\"https:\/\/history.house.gov\/Historical-Highlights\/1800-1850\/The-Tariff-of-Abominations\/\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">Tariff of Abominations<\/a>\u201d by Southern states, whose economies relied on exporting raw materials and importing manufactured goods, leading to a constitutional standoff.<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">1930:<\/strong> The <a class=\"css-yywogo\" href=\"https:\/\/timesmachine.nytimes.com\/timesmachine\/1930\/04\/03\/96084942.pdf?pdf_redirect=true&amp;ip=0\" title=\"\">Smoot-Hawley Tariff Act<\/a> of 1930 was enacted after the stock market crash of 1929, in an attempt to protect U.S. businesses. Instead, <a class=\"css-yywogo\" href=\"https:\/\/www.youtube.com\/watch?v=yuOHbyuanbY\" title=\"\" rel=\"noopener noreferrer\" target=\"_blank\">as described in \u201cFerris Bueller\u2019s Day Off,\u201d<\/a> the tariffs \u201cdid not work, and the United States sank deeper into the Great Depression.\u201d<\/p>\n<p class=\"live-blog-post-content css-h61jh5 evys1bk0\"><strong class=\"css-8qgvsz ebyp5n10\">1934: <\/strong>Franklin D. Roosevelt signed the <a class=\"css-yywogo\" href=\"https:\/\/timesmachine.nytimes.com\/timesmachine\/1934\/06\/13\/93630901.pdf?pdf_redirect=true&amp;ip=0\" title=\"\">Reciprocal Trade Agreements Act<\/a>, which gave the president the authority to negotiate bilateral trade agreements. This set the stage for more than 90 years of liberal free trade policies.<\/p>\n<p class=\"live-blog-post-content css-1smqmx3 etfikam0\">Reporting was contributed by <!-- -->Mark Landler<!-- -->, <!-- -->Eshe Nelson<!-- -->, <!-- -->Alexandra Stevenson<!-- -->, <!-- -->Andrew Duehren<!-- -->, <!-- -->June Kim<!-- -->, <!-- -->Karl Russell<!-- -->, <!-- -->Colby Smith<!-- -->, <!-- -->Ian Austen<!-- -->, <!-- -->Vjosa Isai<!-- -->, <!-- -->Annie Correal<!-- -->, <!-- -->Keith Bradsher<!-- --> and <!-- -->Alan Rappeport<!-- -->.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/live\/2025\/04\/07\/business\/trump-tariffs-stock-market\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since re-entering office, President Trump has issued a flurry of tariffs in an effort to rewire the global economy. On<\/p>\n","protected":false},"author":1,"featured_media":17926,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[239,114,305,113],"class_list":["post-17925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-customs-tariff","tag-donald-j","tag-stocks-and-bonds","tag-trump"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks in Asia and Europe Fall Sharply as Trump Doubles Down on Global Tariffs: Live Updates - World News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/site.itshrt.com\/worldnews\/stocks-in-asia-and-europe-fall-sharply-as-trump-doubles-down-on-global-tariffs-live-updates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stocks in Asia and Europe Fall Sharply as Trump Doubles Down on Global Tariffs: Live Updates - World News\" \/>\n<meta property=\"og:description\" content=\"Since re-entering office, President Trump has issued a flurry of tariffs in an effort to rewire the global economy. 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