Donald Trump Trade War Update: Trump’s trade war has created upheaval in the market. The global markets are melting in this summer. The American market is also no exception to this. Due to the ongoing heat in the US market, Dow Jones has fallen by nearly four thousand points in the last two days, priced at $ 6.60 trillion. Along with this, the global markets have seen a decline of 9 trillion dollars during this period. All markets from Europe to Asia and Africa have melted in this scorching heat. The value from the markets has started disappearing systematically. The whole world is shocked, but Trump is quiet.
Nine trillion dollars from the US market have ended since Trump’s election. On November 4, Dow Jones closed at 38,314 points for the first time after reaching the summit above 45,000. On Friday, Dow Jones fell 5.50 percent or 2231.07 points to close at 38314 points. S&P 500 fell 6 percent or 322.44 points to close at 5,074.78. Nasdaq fell 5.82 percent or 962.82 points to close at 15,587.79 points. The price of crude oil fell 6.92 percent or about seven percent to close at $ 62.52. Gold closed down 2.10 percent or $ 65.60 to close at 3056.10.
All major European markets declined by about four and a half percent. FTSE 100 fell to about five percent or 419 points to 8054.98. While the DAX also fell at the same percentage ie 1075.67 points to 20641.72. KEC fell 40 4.026 percent or 324 points to close at 7274.95. A similar decline was recorded in Asian markets.
When the US stock market declined, Trump was enjoying the golf game at his Mar-e-Lago residence. This reminds of the situation when Rome was burning and Nero was playing flute. Thus, while the US stock market is melting in the heat of tariff, Trump is enjoying playing golf. Thus, Trump has become a catalyst for investors around the world.
China said that Trump’s decision on the US market is showing the impact. We do not need to say anything. Along with this, the Chinese spokesperson also posted a screenshot of decline in the US market.
American Fed Reserve Chairman Jerome Powell also warned that this could further reduce the possibility of cutting the expected interest rates this year. In response, Trump said in his post that Jerome should stop politics and reduce rates. This year, the US Fed Reserve is expected to cut interest rates at least 100 basis points.
Some experts stated that Trump has speculated that he would get a revenue of US $ 600 billion by imposing tariffs on US $ 3.3 trillion. Now the big question is whether imports will be so high even after so much tariff. Now, if there is no import, there will not be as much income as Trump wants.
Global organizations such as the International Monetary Fund (IMF) and the World Trade Organization (WTO) are warning that Trump’s tariff will turn into a battle trade war and endanger the entire global trade.
The fifth largest single-day decline in the 13-year history of the Bloomberg Billionaires Index was recorded on Friday after Thursday. This has seen the biggest decline after Corona.
The tariff war has led to a drastic decline in market capitalization not only in America, but also the stock markets of Asia and Europe.
In response to the heavy tariff declared by the US, China has also announced a 34 percent tariff on American goods. Keeping this fact in mind, the possibility of further decline in global stock markets and trade war cannot be ruled out in the coming days.
Meanwhile, JP Morgan has warned that the US can move towards recession due to the new tariff. The increase in import cost and retaliation by business partners will result in recession in US economic development and the purchasing power of consumers will be in danger. He said that now 60 percent of the possibility is that the US will go into recession due to Trump’s tariff. The unemployment rate will exceed five percent. The global organization IMF has expressed concern that tariffs pose a serious threat to world trade and trade scenario.
The World Trade Organization has estimated that the global trade of goods is likely to fall by one percent this year as a result of large -scale mutual tariffs.
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