US President Donald Trump claimed that the US is earning billions of dollars every week from countries that are misusing the already imposed tariffs. Meanwhile, the stock markets of Asia and Europe declined a huge decline. Trump’s tariff policy has created anarchy in the global market in the last few days. The stock markets of Asia and Europe have seen a huge decline.
Oil prices have fallen: Trump
Posting on the social media platform Truth, Trump said, “Oil prices have come down. Interest rates have come down. Food prices have come down. There is no inflation.” Trump claimed that the US is earning billions of dollars every week from countries that are misusing the already implemented tariffs. The US President said, “China has done the most wrong with America. Chinese markets are falling.” China said it would impose 34 percent tariffs on all American imports from 10 April. Trump described the move as ridiculous. China has also decided to ban the export of double -use items to 16 American companies. On this, Trump said that China has done wrong. they are scared.
Decline in markets around the world
American Federal Reserve Chairman Jerome Powell warned that American tariffs are likely to increase inflation and slow growth. Due to which unemployment can increase. There has been a huge decline in markets around the world including India amid concerns about the US imposition of counter tariffs. The domestic stock market declined by 2,226.79 points in the BSE Sensex. While the National Stock Exchange’s Nifty fell 743 points. In other Asian markets, Hong Kong’s Hangseng fell over 13 percent. Japan’s Nikkei 225 has fallen by about 8 percent. Shanghai SSE Composite has fallen by 7 percent and South Korea’s Kopy has fallen by more than 5 percent.
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