2025-04-03
Despite sharp falls in stock markets around the world following news of new US tariffs, Donald Trump predicts that the market will soon recover. The statement sparked strong reactions – at the same time the president was on his way to a golf tournament.
Sharp stock market decline in the US, Europe and Asia
Global financial markets were shaken on Thursday after the United States unveiled new tariffs targeting countries in Asia, including Vietnam, Laos and China.
In the US, the Nasdaq fell by a whopping 4,73%, the Dow Jones lost 3,73% and the broad DJ USA index fell by 4,74%. Stock markets in Europe also fell sharply – the OMXS30 in Stockholm fell 3,77%, while Paris, Frankfurt and London showed similar declines.
In Asia, Tokyo's Nikkei index fell 2,77% and Hong Kong's Hang Seng lost 1,52%. Canada and South Africa also reported declines.
Trump: “You’ve never seen anything like it”
President Donald Trump commented on the development in an interview with BloombergDespite the stock market crash, he showed no concern:
“It’s going very well. You’ve never seen anything like it. The stock market will skyrocket, the country will prosper.”
According to Reuters, Trump was on his way to a golf tournament at his own resort in Miami on Air Force One. The combination of a sharp stock market drop and the president's relaxed message has drawn criticism from several quarters.
Commodity markets follow suit downwards
It's not just the stock market that has reacted. Commodity prices also fell on Thursday.
Silver prices fell 6,14%, oil dropped 5,15%, and gold – usually seen as a safe investment – also fell 0,81%. Platinum prices fell 2,44% and copper was flat.
The movements in the commodity market reflect concerns that the US tariff announcement could lead to broader global uncertainty and weaker growth.
EU and Canada prepare responses
French President Emmanuel Macron commented on the situation by promising a “forceful response” from the EU. According to Bloomberg, he urged European companies to hold off on investing in the US until the situation is clarified.
Canada responded quickly. The country's government is now considering imposing a 25% tariff on American cars – a direct countermeasure to Trump's actions.
Several international analysts believe that the world is facing a new trade conflict that may be difficult to control.
Related articles about the US tariff decision
Want to read more about the US's new tariff policy and how different countries are reacting? Here are more fact-based analyses from Thailand Info:
US customs figures questioned – no one knows how 90% was calculated
Asia reacts to new US tariffs – Thailand seeks dialogue
US imposes tariffs – affecting Thailand and Southeast Asia
Text: The editorial staff
Image license: Steve Jurvetson, Flickr, original image
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