Mon Mar 31 03:34:17 UTC 2025: ## Trump’s Broad Tariff Announcement Sends Global Markets Plunging

**Washington D.C.** – President Trump announced Sunday that upcoming reciprocal tariffs, scheduled for release on April 2nd, will apply to “all countries,” contradicting previous White House statements suggesting a more targeted approach. This unexpected announcement has sparked significant unease in global markets.

Initially, administration officials, including White House economic advisor Kevin Hassett, hinted that the tariffs would primarily focus on 10 to 15 countries with substantial trade imbalances with the US. However, Trump’s statement on Air Force One clarified that the April 2nd announcement would mark the beginning of tariffs impacting a much broader range of nations.

The president’s remarks directly contradict his earlier assurances that the tariffs would be “very lenient” and even suggested he is “certainly open” to negotiating exemptions after the initial announcement. This wavering stance has left investors uncertain about the long-term implications of the president’s trade policy.

The news caused a sharp decline in Asian stock markets on Monday. Japan’s Nikkei 225 fell 3.85 percent, South Korea’s KOSPI dropped 2.55 percent, Australia’s ASX 200 lost 1.56 percent, and Hong Kong’s Hang Seng declined 1.20 percent. Gold, a safe-haven asset, surged to a record high above $1300 per ounce.

The president’s protectionist stance, including the recent 25 percent tariff on all auto imports, has already strained relationships with key allies like Canada, the European Union, and Japan. The breadth of the upcoming tariffs further escalates these tensions and throws the future of global trade into uncertainty. The administration has pledged that the tariffs will match the tariffs and non-tariff barriers imposed on US exports by other nations.

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