Asian and European stock markets suffer historic losses due to Trump’s trade war
- Asia Hong Kong has suffered the greatest losses: It has lost 13.2%, the biggest blow it has suffered since 1997. In Europe, on the other hand, the main stock exchanges have started Monday with losses of between 6% and 10%. Mobilizations have been held in the largest cities in Europe and the United States to denounce the measures taken by Trump.
Since launching his first term as President of the United States in January 2017, Donald Trump has taken advantage of White House events called "Freedom Day" to impose taxes against countries and/or companies around the world. The latest edition of this event, invented by the Washington tenant himself, took place last Wednesday when Trump announced a “universal” tariff for the whole world. The effects of this measure on the world market are immediately apparent: The stock markets of the main Asian and European countries suffered their biggest losses in a long time on Monday.
As for Asian stocks, Hong Kong’s has been hit hardest by border taxes: It has suffered the biggest losses since 1997, losing 13.2%. With the measure announced on Wednesday, the U.S. tariffs on China have reached 54%, which has been significantly detected in the fall of the Shanghai stock exchange: The loss was 7.3%. On the other hand, the Taipeigo stock exchange, a market of great importance in the trade war between the United States and China, a country with the highest production of semiconductor chips, has fallen by 9.7%.
Trump’s protectionist policy has had repercussions not only in Asia, but also in the markets of major European countries: Monday was launched with losses of between 6% and 10%, including the German Frankfurt Stock Exchange (10%), the Italian Milan (7%) and the Parisian Stock Exchange (6.7%). Spain has not been an exception, as the Ibex35 has reached a loss of 7%. Trump justified tariffs on Wednesday’s outbreak to “make America rich again” by targeting countries and territories that have “misbehaved” commercially with the United States.
Mobilizations in Europe and the US against Trump’s authoritarianism
Under the slogan Don’t Muzzle, mobilizations have been held in the largest cities in Europe and the United States on Saturday to condemn Trump’s decisions since he came to the presidency of the United States in January. Thousands of Americans have flooded the streets of Washington, Boston and/or New York, but many more have flooded the streets of Paris, Berlin and/or London. Protests against both Trump and his administration have been shouted and shown in mobilizations, denouncing, among other things, the deportations of immigrants and the measures taken against LGTBIQ+ people.
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