Global stock markets are in shock after US President Donald Trump introduced a new wave of global tariffs - that's taxes placed on goods imported into the US from other countries. The baseline tariff for all countries is 10%. But there are extra tariffs on 60 countries that Trump calls the worst offenders. These are countries that have been charging higher tariffs on US goods going into their countries. Trump has also put 104% tariffs on goods from China, the world's biggest exporter.
In the days after Trump announced the new tariffs, stock markets in the US and in the UK had some of their worst one-day falls since the beginning of the COVID pandemic in 2020. And our first headline is about the stock market. This one is from Reuters. Stocks tumble again as US hits China with 104% tariffs.
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