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.
A manhunt is underway in suburban Houston after a gunman opened fire at a local bar early Sunday, killing one person and injuring five others, police ...
India has warned Pakistan of “high floods” along the Sutlej River as northeastern regions prepare for another intense monsoon spell, with nearly 2...
In a historic showdown, Spain’s Carlos Alcaraz defeated Italy’s Jannik Sinner at the U.S. Open final on Sunday, earning his second Grand Slam tit...
Hamas said Sunday it received a new U.S. ceasefire proposal through mediators and is ready to resume negotiations....
U.S. President Donald Trump said on Sunday that he may visit Kazakhstan following an “excellent conversation” with the country’s President, Kass...
A manhunt is underway in suburban Houston after a gunman opened fire at a local bar early Sunday, killing one person and injuring five others, police said.
India has warned Pakistan of “high floods” along the Sutlej River as northeastern regions prepare for another intense monsoon spell, with nearly 2 million people already displaced, officials said on Sunday.
In a historic showdown, Spain’s Carlos Alcaraz defeated Italy’s Jannik Sinner at the U.S. Open final on Sunday, earning his second Grand Slam title of 2025 and a record $5 million first prize.
Hamas said Sunday it received a new U.S. ceasefire proposal through mediators and is ready to resume negotiations.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Mozambique is taking a major step to expand electricity access with the $6 billion Mphanda Nkuwa hydroelectric plant, the largest such project in southern Africa in 50 years.
Czech police have arrested a 51-year-old man long suspected of driving a high-speed racing car on public motorways, a case that has captured public attention since 2019.
Max Verstappen secured a commanding victory at the Italian Grand Prix on Sunday, taking his first win since May and the third of his season.
A manhunt is underway in suburban Houston after a gunman opened fire at a local bar early Sunday, killing one person and injuring five others, police said.
India has warned Pakistan of “high floods” along the Sutlej River as northeastern regions prepare for another intense monsoon spell, with nearly 2 million people already displaced, officials said on Sunday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment