this post was submitted on 03 Apr 2025
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Dow drops 1,500 as US stocks lead worldwide sell-off after Trump’s tariffs ignite a COVID-like shock (apnews.com)
submitted 2 days ago by [email protected] to c/[email protected]
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Trump announced a minimum tariff of 10% on imports, with the tax rate running much higher on products from certain countries like China and those from the European Union. It’s “plausible” the tariffs altogether, which would rival levels unseen in roughly a century, could knock down U.S. economic growth by 2 percentage points this year and raise inflation close to 5%, according to UBS.

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