Global Markets Tremble As Tariff Threats Escalate
President Trump's new tariff threats on Canada and Europe led to a dip in U.S. and European stock futures. The dollar strengthened against the euro and the Canadian dollar. Fears of an escalating trade war loom as markets await potential impacts on global financial stability.
U.S. and European futures slid in Asian markets on Friday following President Donald Trump's increased tariff threats against Europe and Canada, which subdued an incipient rally in regional shares.
The dollar appreciated against the euro and Canadian dollar after Trump's Thursday letter announcing a 35% tariff on imports from Canada starting August 1, with a similar notification impending for the European Union.
As Nasdaq, S&P 500, and EUROSTOXX 50 futures slipped 0.4%, market participants speculated on the possible ramifications of these tariffs, including potential tensions between the U.S. and its trading partners, and their resulting impact on global markets.
(With inputs from agencies.)
- READ MORE ON:
- tariff
- Trump
- stock futures
- Europe
- Canada
- dollar
- trade war
- economics
- financial markets
- Trump tariffs
Advertisement
ALSO READ
D’Addario Harmonizes Strategy Amidst Trade War Tensions
Grappling with Trade Wars: D'Addario's Leadership in Musical Accessories Market
Strings of Strategy: D’Addario Tunes into Trade War
Dollar's Dance: Trade Talks and Political Tremors
Shifting Trade Winds: Dollar Tumbles Amid U.S.-Japan Trade Deal Announcements
Google News