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Global Markets Plunge in Response to Escalating Trade Dispute

Global Markets Plunge in Response to Escalating Trade Dispute

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Global stock markets are experiencing significant declines, particularly in Asia. China's announcement of additional tariffs on US goods has triggered a sharp downturn, with Hong Kong's Hang Seng index plummeting 13% and its worst drop in 16 years. Asian markets, including Tokyo, Taipei, and Hong Kong, are down by 7% to 12%. European markets, such as Paris and Frankfurt, have also suffered losses, with Paris down by 6% and Frankfurt's DAX index declining by 10%. US oil prices have dropped below $60 a barrel for the first time since April 2021.

Anthony Albanese
Australian Government
1. You can't change global events. What you can do is prepare for them.
Kristalina Georgieva
International Monetary Fund
1. It is important to avoid steps that could further harm the world economy. We appeal to the United States and its trading partners to work constructively to resolve trade tensions and reduce uncertainty.
2. We are still assessing the macroeconomic implications of the announced tariff measures, but they clearly represent a significant risk to the global outlook at a time of sluggish growth.
State Council Tariff Commission
1. This practice of the US is not in line with international trade rules, seriously undermines China's legitimate rights and interests, and is a typical unilateral bullying practice.
Keir Starmer
Labour Party
1. Global trade is being transformed so we must go further and faster in reshaping our economy.
Jerome Powell
Federal Reserve System
1. The trade war could lead to higher inflation and lower growth.
2. Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem.
Donald Trump
Republican Party
1. THIS IS A GREAT TIME TO GET RICH.
2. CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!
3. We have been treated so badly by other countries because we had stupid leadership that allowed this to happen. They took our businesses, they took our money, they took our jobs.
4. They are coming to the table. They want to talk but there's no talk unless they pay us a lot of money on a yearly basis.
5. Seeing the World Champion Los Angeles Dodgers at 11:00 am. Exciting!!!
6. The United States has a chance to do something that should have been done DECADES AGO.
7. Negotiations with other countries, which have also requested meetings, will begin taking place immediately.
8. They have treated the US very poorly on trade. They don't take our cars, but we take MILLIONS of theirs. Likewise, agriculture, and many other 'things.' It all has to change, but especially with CHINA!!!
9. I don't want anything to go down but, sometimes, you have to take medicine to fix something.
Peter Navarro
White House
1. You steal from the American people every which way is possible. So don't just say we're going to lower our tariffs.
Kevin Hassett
White House National Economic Council
1. So the fact is, the countries are angry and retaliating -- and, by the way, coming to the table. I got a report from the [US Trade Representative] last night that more than 50 countries have reached out to the president to begin a negotiation, but they're doing that because they understand that they bear a lot of the tariff.
2. More than 50 countries have reached out to the president to begin a negotiation.

Global Markets Plunge in Response to Escalating Trade Dispute

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