{"id":14360,"date":"2025-04-09T05:37:43","date_gmt":"2025-04-09T05:37:43","guid":{"rendered":"https:\/\/infundpros.com\/?p=14360"},"modified":"2025-04-09T05:37:44","modified_gmt":"2025-04-09T05:37:44","slug":"donald-trump-defies-market-tumult-as-tariffs-take-effect","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=14360","title":{"rendered":"Donald Trump defies market tumult as tariffs take effect"},"content":{"rendered":"<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description\">Your guide to what the 2024 US election means for Washington and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=81cbdcdf-aafa-411e-8458-4af2b2b186d0&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Donald Trump has pushed the world into a full-blown trade war, defying market turmoil as sweeping tariffs against dozens of US trading partners came into effect.<\/p>\n<p>With no last-minute reprieve from the White House, the president\u2019s so-called reciprocal tariffs came into force at midnight in Washington on Wednesday. They include a 104 per cent levy on China that will slash trade between the world\u2019s two largest economies.<\/p>\n<p>The tariffs mark a profound reversal to decades of liberalisation in the world economy and will \u2014 if sustained \u2014 lead to a complete reshaping of global trade patterns.<\/p>\n<p>A sell-off in markets deepened in Asia, extending a rout that began when Trump first announced the duties on \u201cliberation day\u201d last week. US Treasuries, Japanese government bonds, the dollar and stock futures tracking the S&amp;P 500 all fell sharply.<\/p>\n<p>The historic decision to impose tariffs caps the aggressive trade policy Trump has pursued since returning to office, as the US president tries to remake a global economic order he says has \u201cripped off\u201d America for decades.<\/p>\n<p>White House officials, including Treasury secretary Scott Bessent, have sought to talk up possible trade negotiations with South Korea, Japan and other countries \u2014 a message that had given hope to investors that Trump could soften his stance after pressure from billionaire allies, trading partners and Republicans in Congress.<\/p>\n<p>At a fundraising event for Republicans in Congress on Tuesday night, Trump struck a defiant tone, saying other countries \u201cwant to make a deal with us\u201d but the US did not \u201cnecessarily\u201d need any agreements and was \u201chappy the way we are\u201d. He added: \u201cI know what the hell I\u2019m doing.\u201d<\/p>\n<p>In a post on Truth Social late on Tuesday, Trump said he was \u201cproud to be the president for the workers, not the outsourcers; the President who stands up for Main Street, not Wall Street\u201d. <\/p>\n<p>But the decision to push ahead with the tariffs has sparked fears of a recession and spiralling inflation in the US, as well as a severe slowdown in the global economy.<\/p>\n<p>\u201cOur estimates of \u2018shocks\u2019 to market views using the joint movements of US equities and bonds are consistent with a large downgrade to US growth views,\u201d analysts at Goldman Sachs noted.<\/p>\n<p>The yield on the 10-year Treasury jumped 0.2 percentage points to 4.46 per cent in Asian trading while futures tracking the S&amp;P 500 were down 1.9 per cent. About $6.2tn in market value has been wiped from the S&amp;P 500 index since \u2018liberation day\u2019. <\/p>\n<p>Oil prices extended their drop on Wednesday, as investors braced for a potential recession. Brent crude, the international benchmark, fell 4 per cent to $60.36 a barrel. West Texas Intermediate, the US benchmark, fell 4.4 per cent to $56.97, a four-year low.<\/p>\n<p>The president\u2019s determination to follow through with his ultra-protectionist tariffs has drawn a fierce backlash from Wall Street, business leaders and some Republican lawmakers.<\/p>\n<p>The trade war has also opened divisions within Trump\u2019s own circle. While Bessent has described his plan to launch talks with Japan over a new trade deal, Trump\u2019s trade tsar Peter Navarro wrote in the Financial Times that the president\u2019s position was \u201cnot a negotiation\u201d.<\/p>\n<p>Elon Musk, the technology billionaire and Trump adviser, on Tuesday attacked Navarro, calling him a \u201cmoron\u201d and \u201cdumber than a sack of bricks\u201d after Navarro suggested the Tesla boss\u2019s opposition to tariffs was self-interested.<\/p>\n<p><em>Additional reporting by William Sandlund in Hong Kong<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/81cbdcdf-aafa-411e-8458-4af2b2b186d0\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world&#8230;<\/p>\n","protected":false},"author":1,"featured_media":14361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-14360","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Donald Trump defies market tumult as tariffs take effect | inFundPros<\/title>\n<meta name=\"description\" content=\"Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldDonald Trump has pushed the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=14360\" \/>\n<meta property=\"og:locale\" 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