Servicios Médicos Cubanos
CUN-HAV Enjoy Travel Group
Cubasol
AVA Resorts
Walmart
Herbalife
Barceló Solymar
Grupo Hotelero Islazul
Intecap
Agexport
Tigo
Instituto Hondureño de Turismo
MAD-HAV Enjoy Travel Group
Nestle
INTERFER
Realidad Turística
Los Portales
blackanddecker
INOR
Cervecería Centroamericana S.A.
Centro Nacional de Cirugía de Mínimo Acceso de Cuba

Trump Tariffs Updates: ‘Reciprocal’ Levies Shake Up Global Trade

Date:

Share:

AVA Resorts
Servicios Médicos Cubanos
INOR
Herbalife
Cervecería Centroamericana S.A.
Instituto Hondureño de Turismo
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
Nestle
blackanddecker
INTERFER
Grupo Hotelero Islazul
Realidad Turística
Los Portales
Intecap

US President Donald Trump announced a 10 percent “minimum baseline tariff” for all imports into the US, with dozens of countries hit with rates multiple times higher.

Trump’s tariffs trigger an immediate backlash, with US ally Australia blasting them as “unwarranted” and Italy calling them “wrong”, while other countries have already vowed retaliation.

Speaking at the “Make America Wealthy Again” event in the Rose Garden, Trump says the US “has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike” for decades.

Trump announced 25-percent tariffs on auto imports last week on all cars and parts made outside the US.

Trump revealed his long-awaited “Liberation Day” trade plan, announcing a baseline 10 percent tariff on all US imports as well as higher duties on dozens of select countries.

China and the EU promised to roll out “countermeasures” in response, raising fears of an escalating global trade war.

Global stocks fell sharply as the scale of Trump’s tariffs took many investors by surprise.

World markets continue to slide as trade war looms over Trump tariffs

The Reuters news agency reports that world markets have been left reeling due to Trump’s tariffs.

Stock markets have tumbled, and investors are dashing to the relative safety of bonds, gold and the yen.

S&P 500 futures dropped 3 percent, suggesting investors expect deep losses when Wall Street opens later today.

US Treasury yields slid and China’s yuan dropped to a seven-week low.

“We will likely see retaliation from Europe but it’s clear countries will think about how to retaliate in a politically astute way,” said Justin Onuekwusi, chief investment officer at the investment firm St James’s Place, in London.

“Significant retaliation could lead to a tariff ‘spiral of doom’ that could be the growth shock that drags us into recession,” he said.

“We have raised global recession risks to 35 percent from 15 percent,” he added.

Japan’s Daiwa Institute of Research estimated that Trump’s 24 percent reciprocal tariffs could lower the country’s real GDP by 0.6 percent this year, after growing just 0.1 percent in 2024.

Real GDP is similar to GDP, except that it is adjusted for inflation.

The tariff follows a previously announced 25 percent tariff on most vehicle imports to the US, as well as key auto parts, that also went into effect on Thursday.

The car tariff is expected to inflict damage on Japan’s auto industry, which contributes 3 percent of its GDP.

In response, the Nikkei share average fell to an eight-month low on Thursday, wiping out 18.7 trillion yen ($127bil) of market value.

EU ready for ‘trade war’ over Trump tariffs, eyeing US online services: France

The EU is “ready for a trade war” with the US and could “attack online services”, French government spokesperson Sophie Primas said.

“We are pretty sure that we are indeed going to see an adverse effect on production,” Primas told French broadcaster RTL, expressing particular concern about the “strong” impact on French wines and spirits as a result of the US tariffs.

Primas said the EU was preparing a two-stage response, with “an initial response”, to be put in place around mid-April, concerning aluminium and steel.

Then the EU will target “all products and services”, with the measures probably ready at the end of April, she said, adding this was still being discussed.

“We have a whole range of tools, and we are ready for this trade war,” she said.

“We are also going to attack services. For example, online services, which are not taxed today but could be,” Primas said.

US economist Larry Summers estimates losses of $30 trillion or more

While estimates are still coming in, the renowned US economist Larry Summers predicted losses of $30 trillion or more from the new round of tariffs – up from a prediction of $20 trillion just hours earlier.

“Never before has an hour of Presidential rhetoric cost so many people so much. Markets continue to move after my previous tweet. The best estimate of the loss from tariff policy is now closer to $30 trillion or $300,000 per family of four,” he said on X.

Summers previously told Bloomberg that the tariff hikes are set to unleash an “oil crisis-like shock to the economy”.

“This is the kind of thing you discuss in the way we would usually discuss an oil-price spike or earthquake or a drought, as a supply shock,” he said on Bloomberg Television’s Wall Street Week. “The question is mostly how much damage is going to be done.” (https://www.aljazeera.com/news/liveblog/2025/4/2/trump-tariffs-live-news-liberation-day-plan-puts-markets-on-high-alert)

MAD-HAV Enjoy Travel Group
Cervecería Centroamericana S.A.
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
Servicios Médicos Cubanos
Tigo
Agexport
Realidad Turística
CUN-HAV Enjoy Travel Group
INOR
Instituto Hondureño de Turismo
blackanddecker
Nestle
Grupo Hotelero Islazul
AVA Resorts
Intecap
Cubasol
Barceló Solymar
INTERFER
Los Portales
Herbalife
Walmart
Hotel Barcelo Solymar
Barcelo Guatemala City
Henkel Latinoamerica
Havanatur
Intecap
INTERFER
Hotel Holiday Inn Guatemala
Revista Colombiana de Turismo Passport
Tigo
Blue Diamond Resorts
AirEuropa
Cubacel
Maggi - GLUTEN-FREE

Subscribe to our magazine

━ more like this

Pole Dancing in Israel: A New Dimension with BlueDance.co.il

In recent years, pole dancing has experienced a remarkable transformation, shifting from a misunderstood niche to a popular activity combining fitness, self-expression, and empowerment....

A New Luxury Hotel Just Opened on An Idyllic Beach in Cancun, Mexico — And We Were the First to Stay

Waldorf Astoria Cancun opened to the public on Nov. 1, the brand's first new build in Mexico, with two waterfront pools and a fantastic...

Pan American Health Organization Launches Interactive Dashboard on Avian Influenza in The Americas

To monitor cases of avian influenza A (H5N1) in the Americas, the Pan American Health Organization (PAHO) launched an interactive dashboard on the web...

Nicaragua Presents Its New Interoceanic Canal Route to China and Seeks to Compete with Panama

Estimated reading time: 8 minutes With a length of 445 kilometers, in a second attempt, the Nicaraguan president, Daniel Ortega, presents China with a new...

US Lawmakers Join Requests to Extend TPS To Central Americans

The chairman of the US Senate Foreign Relations Committee, Robert Menendez, along with other legislators gathered outside the Capitol this Thursday to express his...
Havanatur
Intecap
Hotel Barcelo Solymar
Cubacel
INTERFER
Maggi - GLUTEN-FREE
Hotel Holiday Inn Guatemala
Henkel Latinoamerica
Barcelo Guatemala City
Revista Colombiana de Turismo Passport
AirEuropa
Blue Diamond Resorts

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Herbalife
Barceló Solymar
Grupo Hotelero Islazul
Agexport
AVA Resorts
Nestle
Intecap
Realidad Turística
Tigo
INTERFER
INOR
Servicios Médicos Cubanos
MAD-HAV Enjoy Travel Group
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
Cervecería Centroamericana S.A.
Cubasol
Walmart
Instituto Hondureño de Turismo
blackanddecker
Los Portales