Trump's Tariff Tactics: A New Chapter in Global Trade Tensions
U.S. stocks fell, marking a weekly loss, after President Trump's recommendation of 50% tariffs on European goods reignited global trade tensions. Major indexes ended the week lower with technology stocks hit hardest. Apple's shares fell after facing potential 25% tariffs on non-US-manufactured phones.
The U.S. stock market closed lower this week amid renewed concerns over global trade tensions. President Donald Trump's proposal to impose 50% tariffs on European goods escalated worries, affecting major Wall Street indexes which shed over 2% for the week.
Technology, communication services, and consumer discretionary stocks suffered the most, with Apple shares falling 3% as the company faces potential tariffs on iPhones. Treasury yields also eased slightly.
Meanwhile, megacap stocks such as Amazon, Nvidia, and Meta Platforms saw declines. Treasury Secretary Scott Bessent conveyed Trump's dissatisfaction with EU trade offers, further hinting at elevated trade tensions.
(With inputs from agencies.)
- READ MORE ON:
- Trump
- tariffs
- stocks
- EU
- trade
- Apple
- Wall Street
- technology
- market
- Trump tariffs
Advertisement
ALSO READ
Escalating Tensions: Pakistan and India Trade Blows Over Airbase Attacks
Todd McClay Embarks on Trade Mission in UK and Korea as NZ-UK FTA Marks Success
US-China Trade Tensions: Hope for De-escalation in Geneva Meeting
Trade War Showdown: US-China Tariff Talks in Switzerland
High-Stakes Negotiations: U.S. and China Tackle Trade War in Geneva
Google News