President Trump announced new tariffs on imports from around 90 countries, including a universal 10% tax and additional specific tariffs for certain nations, raising concerns about a global trade war. The tariffs have strained international relationships and contributed to economic uncertainty, particularly affecting countries like China with higher levies. Financial markets have reacted negatively, with significant declines in major indices such as the Russell 2000 and S&P 500, as investors and economists monitor the potential long-term impacts on global trade and economic stability.
