Fri Apr 11 04:21:52 UTC 2025: ## Global Markets in Turmoil as Trump’s Tariff War Intensifies

**Beijing, April 11, 2025** – Global markets experienced another day of volatility on Friday, April 11, 2025, as the fallout from US President Donald Trump’s unpredictable tariff policies continued. Asian shares plummeted following a reversal of Thursday’s gains in US stocks, fueled by China’s announcement of further countermeasures against the US. The White House clarified that the final tariff on Chinese imports would be 145%, significantly higher than previously indicated.

Chinese President Xi Jinping, meeting with Spanish Prime Minister Pedro Sanchez, called for European Union cooperation in resisting what he termed “unilateral bullying” from the US. He emphasized the need for China and Europe to jointly safeguard their interests and uphold international fairness. Mr. Sanchez, while acknowledging trade tensions, stressed the importance of continued EU-China cooperation.

The impact of the escalating trade war was felt worldwide:

* **US Shrimpers:** American shrimpers, struggling with cheap imports, expressed cautious optimism that the tariffs could help revive their industry.
* **Taiwan:** President Lai Ching-te stated that Taiwan was prioritizing trade negotiations with the US to mitigate a 32% tariff, aiming to reduce it to zero.
* **South Africa:** The rand, initially showing signs of recovery, remained volatile due to global tariff uncertainty and concerns about the stability of South Africa’s coalition government.
* **Europe:** European stock markets saw gains, but the situation remains precarious. Italian Deputy Prime Minister Antonio Tajani stressed the need for a US-EU agreement and the India-EU BTIA to mitigate the negative effects of the trade war.
* **India:** India’s stock markets surged after a 90-day suspension of additional US tariffs, although uncertainty remains. The rupee also strengthened. However, TCS reported weaker-than-expected results due to client hesitancy stemming from tariff uncertainty.
* **Southern Africa:** Economies in southern Africa face significant challenges due to the potential collapse of the African Growth and Opportunity Act (AGOA) and increased tariffs on car imports.
* **EU:** EU President Ursula von der Leyen indicated the EU is prepared to use powerful trade measures, including levies on US digital companies, if negotiations with the US fail.
* **China:** The yuan weakened against major trading partners, though the People’s Bank of China is reportedly taking steps to prevent a sharp decline.
* **South Korea:** South Korean shares fell for a third straight week, with major companies like Samsung and Hyundai experiencing significant drops.

President Trump acknowledged the “transition costs” associated with his tariff policies, while expressing confidence in the long-term benefits. French President Emmanuel Macron described the 90-day tariff pause as a “fragile” one, highlighting the ongoing uncertainty for businesses. Indian aqua farmers welcomed the temporary reprieve on seafood tariffs.

The situation remains highly fluid, with global markets bracing for further developments in the ongoing trade war. The 90-day pause offers a temporary reprieve but does little to alleviate the underlying uncertainty and fears of a global recession.

Read More