Global Markets React to Trump's Tariff Delay
US President Donald Trump announced a delay in a 50% tariff on EU goods, affecting global markets. US futures rose, while Asian markets showed mixed results. Trump's decision followed negotiations with European Commission President Ursula von der Leyen. The financial implications led to mixed performances on Wall Street.
In a significant move impacting global markets, US President Donald Trump has postponed a looming 50% tariff on goods from the European Union. The deferral from June 1 to July 9 was announced following discussions with European Commission President Ursula von der Leyen, who expressed readiness for substantial negotiations.
The announcement led to a ripple effect across global markets. While US futures saw a rise, with the S&P 500 and Dow Jones Industrial Average both advancing, Asian shares presented a mixed bag. Tokyo's Nikkei 225 gained, while indexes in Hong Kong and Shanghai edged lower, reflecting investor uncertainties.
On Wall Street, responses were varied; Apple shares fell as Trump pressed for domestic production, while stocks like Intuit surged following strong earnings. Trump's tariff strategy continues to inject volatility into both the stock market and broader economic forecasts.
(With inputs from agencies.)
ALSO READ
Trump's Trade Tariffs Challenge Apple's Global Manufacturing Strategy
U.S. Tariff Threat Hits China-listed Apple Suppliers
Wall Street Awaits Nvidia's Earnings Amidst Market Calm
Wall Street Soars as Tariff Respite and Consumer Confidence Boost Investor Morale
Wall Street Ricochets: Tech Revives Market Post-Tariff Turmoil
Google News