US Imposes 10% Global Tariff Amid Protests
The US began imposing a 10% baseline tariff on all imports on Saturday, with President Donald Trump urging Americans to 'hang tough' amid market turmoil. Hundreds of countries, including the UK and France, are impacted, with China announcing significant retaliatory measures. All three major US stock indexes plunged over 5% on Friday, marking the worst week for the US stock market since 2020. Thousands protested in Washington DC, New York, and other cities against Trump's policies. Trump described the market volatility as 'an economic revolution' that the US will win. His policy changes have disrupted global supply chains. The UK's FTSE 100 fell nearly 5%, and Asian, German, and French markets also declined. Elon Musk suggested a 'zero-tariff situation' between the US and Europe. The Trump administration plans to impose tariffs of up to 50% on 'worst offenders' for trade imbalances on April 9, with the EU facing a 20% levy. China, the hardest hit, retaliated with 34% tariffs on US imports and filed a complaint with the World Trade Organisation.