Trump's Tariffs Trigger Global Market Turmoil

President Donald Trump's announcement of new tariffs has triggered significant turmoil in global financial markets, raising fears of an impending trade war. Markets in the U.S. saw sharp declines, with the S&P 500 dropping nearly 6% and major Asian indices, including Hong Kong's Hang Seng and Japan's Nikkei, experiencing losses over 12% and 7%, respectively. Trump's tariffs, which he labels as 'reciprocal,' are higher than those imposed by other countries, and critics argue that they could destabilize the U.S. economy and global trade. In retaliation, China has announced its own tariffs and filed a complaint with the World Trade Organization. Economists warn that Trump's focus on trade deficits is misguided and may lead to further economic disruption. As the administration's trade policies unfold, the long-term impacts on global supply chains and economic stability remain uncertain.