U.S. stocks tumbled on Thursday after the White House clarified that tariffs on Chinese imports will total 145%, not the previously stated 125%, reigniting investor fears over the global trade outlook.
The market losses accelerated after the White House issued a clarification on President Donald Trump’s latest tariff move. While Trump had originally stated that Chinese goods would face a 125% tariff, the administration confirmed on Thursday that the final rate will be 145%.
The earlier 125% figure, which Trump had posted on social media and mentioned during a press conference on Tuesday, was already higher than any previous U.S. tariff rate on Chinese goods. It sparked brief panic across global markets before investors recovered on hopes the escalation might be temporary or subject to negotiation.
However, Thursday’s clarification by the White House dashed those hopes. Officials explained that the 125% figure only accounted for the latest round of increases, and when combined with prior tariffs already in effect, the total effective rate on most Chinese imports is 145%.
"While yesterday seemed to be a significant rally in the face of good news in terms of the potential for negotiations, the bad news is the trade war with China continues to escalate," said Art Hogan, chief market strategist, B Riley Wealth.
Even a better-than-expected U.S. inflation report failed to lift markets. Investors remain concerned that the steep tariffs will disrupt global supply chains, drive up prices for consumers, and hurt U.S. businesses dependent on Chinese goods.
France and the Netherlands faced strong condemnation at the United Nations headquarters in New York as the 4th session of the Permanent Forum on People of African Descent spotlighted ongoing colonialism in their overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Europe experienced its most extensive flooding since 2013 last year, with 30% of the continent’s river network impacted by severe floods, according to a joint report by the Copernicus Climate Change Service and the World Meteorological Organization.
France and the Netherlands faced strong condemnation at the United Nations headquarters in New York as the 4th session of the Permanent Forum on People of African Descent spotlighted ongoing colonialism in their overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
A small plane crashed near Kopake, New York, on April 13, killing at 6 people. The Mitsubishi MU-2B aircraft, carrying six people, went down under unclear circumstances. This marks the second aviation accident in New York in a week, raising safety concerns.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 10th, covering the latest developments you need to know.
The death toll from the catastrophic roof collapse at a nightclub in Santo Domingo has risen to 98, with more than 160 people injured, according to Dominican authorities.
A quiet Thursday afternoon at St. Peter’s Basilica turned into something extraordinary, as visitors caught a rare glimpse of Pope Francis — not in his familiar white papal robes, but dressed in black trousers and a striped blanket.
In a dramatic about-face, U.S. President Donald Trump on Wednesday announced a 90-day pause on newly implemented tariffs for dozens of countries — a move that eased market turmoil but further escalated tensions with China.
European gas prices rose modestly on April 15, with the benchmark TTF index climbing 0.5% amid ongoing market adjustments, according to data from the London ICE exchange.
France and the Netherlands faced strong condemnation at the United Nations headquarters in New York as the 4th session of the Permanent Forum on People of African Descent spotlighted ongoing colonialism in their overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
France and the Netherlands faced strong condemnation at the United Nations headquarters in New York as the 4th session of the Permanent Forum on People of African Descent spotlighted ongoing colonialism in their overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
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