Trump's realised tariff threats sends markets and currencies into a tailspin

US sets sights on EU next

Eve Maddock-Jones
clock • 2 min read

US president Donald Trump has come through on his campaign promises and slapped a wider range of tariffs on his country’s biggest importers, triggering a wave of market volatility.

Trump announced a 25% tax on imports from Canada, Mexico and a 10% levy on Chinese products over the weekend. Within hours, Canadian prime minister Justin Trudeau unveiled a 25% counter-tariff on $107bn of US goods, while Mexican leader Claudia Sheinbaum pledged retaliatory levies. China had been celebrating the Lunar New Year over the weekend and amid this the Commerce Ministry issued a statement of "dissatisfaction" and vowed "corresponding countermeasures," without elaborating, according to reports. It pledged to file a complaint at the World Trade Organization and called on the...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read
Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read