Donald Trump, acknowledging the turbulence in the stock markets, said on Thursday that there will “always be transition problems” and “difficulty”, as turmoil continues in the US and Asian markets amid uncertainty over his global tariff policies.
His comments came after the White House announced 145 per cent tariffs on some Chinese products — not the earlier reported 125 per cent — due to an existing 20 per cent levy on items linked to the drug fentanyl.
Despite the tensions, Trump expressed hope for a deal with China, saying, “I think we’ll end up working something out that’s very good for both countries.”
US markets decline
US stock markets opened in the green but ended the day with a sharp decline. By the close, the S&P 500 had dropped 3.6 per cent, the Dow Jones fell 2.5 per cent, and the Nasdaq slipped 4.31 per cent. Warner Bros Discovery shares plunged 14 per cent, while Amazon and Apple both fell by 7 per cent.
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