Fri Apr 04 03:10:26 UTC 2025: ## Trump’s Sweeping Tariffs Trigger Global Market Meltdown

**New York, April 4, 2025** – President Donald Trump’s imposition of a 10% baseline tariff on all imports to the United States, along with significantly higher duties on goods from dozens of other countries, sent shockwaves through global markets, causing a major meltdown. The move, pushing US tariffs to their highest level in over a century, triggered sharp declines across major indices and significantly impacted numerous sectors.

Megacap US tech companies bore the brunt of the impact. Apple, with over 90% of its manufacturing in China, saw its shares plummet 8%, facing an estimated $39.5 billion in tariff costs. Analysts predict this could slash Apple’s operating profit by nearly 32%. Other tech giants, including Microsoft, Alphabet (Google’s parent company), and semiconductor companies, also experienced significant losses. PC makers like Dell and HP faced potential cost increases of 10-25% per unit.

Retail giants Walmart, Amazon, and Target, heavily reliant on Asian suppliers, saw their shares fall by 3-7%. The S&P 500 retail index hit its lowest point since September 2024. Similarly, the sportswear industry suffered, with Lululemon and Nike experiencing double-digit percentage drops in their share prices.

The automotive sector also felt the impact, with Ford and General Motors shares declining. The added tariff costs are estimated to increase the price of the lowest-cost American cars by $2,500-$5,000, and up to $20,000 for some imported models. Ford responded by announcing discounts to compete.

While pharmaceuticals received a temporary exemption, analysts warn this is not a guarantee of long-term protection. Major financial institutions also suffered, reflecting the heightened economic uncertainty.

Economists warn that the tariffs could reduce US growth by 1-1.5 percentage points this year, significantly increasing the risk of a recession. The substantial increase in import costs and the potential for retaliatory measures from affected countries threaten to destabilize the global trade order and disrupt supply chains. The Dow Jones Industrial Average fell 2.72%, and the S&P 500 lost 3.21%. The widespread market reaction underscores the significant economic ramifications of President Trump’s protectionist trade policies.

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