Trump's Tariffs Spark Recession and Protectionism Fears

President Donald Trump has announced sweeping tariffs ranging from 10% to 50% on imports, causing severe market turmoil and fears of a global recession. Markets worldwide reacted negatively, with significant losses on Wall Street and other major financial centers, as the tariffs threaten the global trading system and could lead to retaliatory measures from affected countries. Trump's actions, perceived as a move towards protectionism, have drawn criticism from economists and world leaders, with China and the EU preparing countermeasures. The tariffs are designed to rebalance trade relations and protect American workers, but many fear they will only increase inflation and adversely impact the global economy. Despite some domestic support, the abruptness and severity of these measures have left investors uncertain and concerned about long-term economic consequences. The tariffs have been branded as an extreme shift in U.S. trade policy, reminiscent of historical protectionist eras.