{"id":274612,"date":"2025-04-05T05:45:59","date_gmt":"2025-04-05T05:45:59","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/05\/us-tariffs-wipe-out-9-trillion-in-global-markets-trump-says-will-supercharge-economy-the-times-of-india\/"},"modified":"2025-04-05T05:45:59","modified_gmt":"2025-04-05T05:45:59","slug":"us-tariffs-wipe-out-9-trillion-in-global-markets-trump-says-will-supercharge-economy-the-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/05\/us-tariffs-wipe-out-9-trillion-in-global-markets-trump-says-will-supercharge-economy-the-times-of-india\/","title":{"rendered":"US tariffs wipe out $9 trillion in global markets; Trump says will ‘supercharge economy’ – The Times of India"},"content":{"rendered":"
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  • Global markets were rattled on Friday as US President Donald Trump\u2019s aggressive tariff war triggered a massive sell-off, erasing more than $9 trillion in market capitalisation since his second-term inauguration on January 20. The Wall Street meltdown, the worst since the Covid -19 pandemic, sent shockwaves across global financial centres.<\/li>\n

    The S&P 500 plunged nearly 6%, the Dow Jones Industrial Average fell 5.5%, and the tech-heavy Nasdaq slumped 5.8%, officially entering bear market territory.
    \u201cUS markets have now lost over $9 trillion in market cap since the Jan 20th Trump 2.0 Inauguration,\u201d said Ajay Bagga, banking and market expert. \u201cUS imports are $3.3 trillion. US tariff revenues, even if all imports stay and even if tariffs are collected on ALL these $3.3 trillion of imports, will be $600 billion. Imports will become costlier by around 20 per cent on average. Demand will go down, and import volumes will shrink. So, $600 billion will not be collected. But the market cap loss of $9 trillion is real.\u201d
    The sell-off was sparked after China hit back with a steep 34% retaliatory duty on all US imports, effective April 10, escalating fears of a prolonged global trade war. European and Asian indices followed the US slump\u2014Germany\u2019s DAX lost 5%, France\u2019s CAC 40 dropped 4.3%, and Japan\u2019s Nikkei 225 fell 2.8%. Oil prices sank to their lowest levels since 2021, while industrial commodities like copper also recorded sharp declines.<\/p>\n

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    Do you think trade wars between countries are beneficial for the global economy?<\/p>\n<\/div>\n<\/div>\n<\/div>\n

    India wasn\u2019t spared either. The Sensex fell 930 points to close at 75,364.69, and the Nifty ended the day 345 points lower at 22,904.45. For the week, the Sensex shed over 2,100 points, with global trade tensions and heightened risk aversion weighing heavily on investor sentiment. Sectors such as IT, metals, pharma, and oil were the worst hit.<\/p>\n

    \u2018Tariffs here to stay\u2019: Trump brushes off chaos, markets lose $5 trillion in two days
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    Amid the market turmoil, President Trump remained unfazed and doubled down on his combative trade policy.<\/a> Posting on Truth Social, he declared: \u201cBig business is not worried about the Tariffs, because they know they are here to stay, but they are focused on the BIG, BEAUTIFUL DEAL, which will SUPERCHARGE our Economy. Very important. Going on right now!!!\u201d
    His comments followed a two-day wipeout that erased $5 trillion from the US markets alone. Despite a robust jobs report, investor nerves were frayed over the escalating tariff tit-for-tat and looming fears of a global recession.
    Still, Trump struck an optimistic note, urging his followers: \u201cThis is a great time to get rich,\u201d and likening the economic upheaval to a surgical procedure\u2014painful but necessary. \u201cChina played it wrong, they panicked \u2013 the one thing they cannot afford to do!\u201d he wrote in another all-caps post.
    He also hinted at progress with other trade partners, stating: \u201cVietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the US.\u201d
    Outside the US, markets remained under pressure. Germany, France, and Japan all reported heavy losses. Oil and copper continued to fall, deepening concerns about a broader slowdown in global demand.
    Meanwhile, US Federal Reserve Chair Jerome Powell issued a warning that the trade war could contribute to \u201chigher inflation and lower growth,\u201d and signalled restraint on interest rate cuts. But Trump pushed back, urging: \u201cCUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!\u201d
    Despite the mounting losses for major corporations like GE Healthcare and DuPont, which have been directly hit by China\u2019s countermeasures, Trump continued to project strength. \u201cONLY THE WEAK WILL FAIL!\u201d he posted, while spending the weekend golfing at his Mar-a-Lago resort in Florida.<\/div>\n