The stock market experienced a rollercoaster week amid tensions over President Donald Trump’s tariff policies. Wall Street stocks ended the day with some gains, although the UK’s FTSE closed down by 1.1%. Trump’s aggressive tariffs have sent shockwaves through the global economy.
Stocks are in rally mode after the President said he doesn't intend to remove the Fed Chair. He also anticipates substantially lower tariffs on China. @KristenScholer explains in the Market Update. pic.twitter.com/6H4melw0Nt
— NYSE 🏛 (@NYSE) April 23, 2025
China responded with a hike to 125% on American goods, while the original US tariffs increased levies on some Chinese goods to 145%. The US dollar has fallen to a three-year low due to market uncertainty. Trump claimed on social media that the US was “doing really well on our tariff policy.” Upcoming negotiations with various countries over these tariffs are expected in the coming weeks.
Stocks To Watch | 📊Ready, set, trade! Keep an eye on these stocks as they set the market abuzz #StockMarket #TrumpTarrifs pic.twitter.com/Js3aM4Fuq0
— ET NOW (@ETNOWlive) April 24, 2025
In San Francisco, Jenny Ngo, co-owner of Telescope Coffee, faces price hikes due to a standard 10% tariff on imports from Ethiopia and Guatemala. The cost of iced coffee cups imported from China has also surged. Ngo projects another price increase to sustain her business, impacting customers as they start to tighten their belts.
The volatile stock market affects a substantial portion of Americans. Around 61% invest in the stock market, mainly through retirement accounts like 401(k)s and IRAs. Stock market fluctuations could directly impact people’s retirement savings and financial security.
Global Markets | Here's a look at how the global equities performed overnight📈 #Nasdaq #DowJones #FTSE #CAC #DAX pic.twitter.com/bvKfrXyPc0
— ET NOW (@ETNOWlive) April 24, 2025
Stock market’s turbulent tariff impacts
As China hikes tariffs in retaliation, people in China expressed a mix of confidence and concern. Some remain optimistic about their country’s economic resilience, while others believe the tariff conflict may prompt quick negotiations to resolve disputes.
Jorge Prudencio, who runs the Bread Bite Bakery in Washington, D.C., plans to raise prices at his bakery to break even after his Colombia-based coffee distributor increased prices due to the new U.S. tariffs. In the US, the three major stock indexes closed with modest gains for the weekend but have yet to recover to pre-tariff announcement levels. It remains to be seen how these tariff policies will fully impact markets moving forward.
Russia is closely monitoring the US’s tariff measures. Russian economic bodies are analyzing potential consequences and strategizing to minimize the negative impact on their economy. Trump announced a significant increase in US tariffs last week, arguing that the US buys more goods than it sells, posing a security threat.
He believes tariffs will create more American jobs. Most economists warn that tariffs reduce growth and predict that these abrupt policy changes will complicate international trade and investment. Numerous countries have threatened retaliatory tariffs.
As markets remain on edge, everyone is watching how the unfolding tariff negotiations and policies will shape the global economic landscape in the coming months.
