TORONTO – The futures market suggested more losses were in store for U.S. stock markets when trading begins this morning as U.S. President Donald Trump’s latest round of tariffs went into full effect.
Stock markets in Asia and Europe were down as the latest set of U.S. tariffs, including a 104 per cent charge on Chinese imports, came into force.
China has responded by raising its retaliatory tariff on the U.S. to 84 per cent, up from 34 per cent, effective April 10.
Stock markets have been falling since Trump announced plans for so-called reciprocal tariffs last week.
The move imposed higher import tax rates on dozens of countries around the world.
It has also prompted increased fears of a global recession due to the trade war.
This report by The Canadian Press was first published April 9, 2025.
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