Trump tariffs news: Global stock markets made a fragile recovery on Tuesday, attempting to bounce back from a tariff-triggered sell-off that sent shockwaves through financial systems worldwide. Despite the rebound, anxiety lingers as escalating rhetoric between Washington and Beijing raises the spectre of a deepening trade war.
Asian and European indices saw modest gains as investors hunted for bargains following Monday's heavy losses. The recovery came even as US President Donald Trump doubled down on his tariff threats, warning of an additional 50 percent levy on Chinese imports if Beijing continued retaliating. China responded defiantly, vowing to "fight to the end" and rejecting what it called "pressure, threats and blackmail."
The standoff between the world's two largest economies has rattled global markets, with investors fearing a prolonged dispute could drag the world into recession. Trump's aggressive trade stance has already wiped trillions off company valuations and disrupted established trade norms.
Despite the uncertainty, Tuesday saw a glimmer of optimism in Asia. Tokyo surged more than six percent, recouping a significant portion of Monday's plunge.
In China, Shanghai gained 1.6 percent following a move by the central bank to support Central Huijin Investment, a key state-owned fund, in a bid to stabilise markets. Hong Kong, meanwhile, rose over one percent, though it remained far from recovering Monday's historic 13 percent drop—the city’s worst one-day performance since 1997.
Elsewhere in the region, Sydney posted gains exceeding two percent, while Manila rallied three percent. Seoul and Wellington also edged into positive territory, encouraged by the temporary uptick in global sentiment.
European bourses followed suit, with London, Paris, and Frankfurt all rising more than one percent. However, the uptick did little to offset the steep declines from the previous session, when markets tumbled over four percent amid rising trade tensions.
As uncertainty continues to hang over the global economy, President Trump urged Americans to remain “strong, courageous, and patient,” though markets appear to be bracing for a long and turbulent road ahead.
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