27/03/2025 Daily Reports
Trump’s Auto Tariffs Jolt Markets as Recession Fears Resurface
- Asian stocks retreated as President Donald Trump’s surprise move to impose a 25% tariff on all non-US-made cars reignited fears of a global trade war and its potential economic fallout.
- A regional equities gauge dipped 0.2%, with losses in Japan, South Korea, and Australia, though Hong Kong managed gains.
- Automakers like Toyota, Ford, and GM fell sharply, and the Mexican peso weakened.
- Trump’s shifting trade stance has unsettled markets just two months into his presidency.
- The tariffs, set to begin April 3, are seen as a major headwind for automakers, potentially raising vehicle prices by up to $10,000. Wall Street’s “Magnificent Seven” stocks extended declines, dragging the S&P 500 and Nasdaq 100 lower.
- While the Federal Reserve remains cautious on rate changes, officials warn that the economic impact of tariffs may not be short-lived.
- Weak industrial profits in China and contracting liquidity in US stock markets further compounded investor concerns.
- Meanwhile, gold held near record highs, oil climbed on shrinking US inventories, and India’s Sensex bucked the global trend with strong gains on optimism for fiscal support and rate cuts.
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