Trump and Musk protest
Trump and Musk Protest The United States started levying a 10% base tariff across all imports on Saturday, as President Donald Trump encouraged Americans to remain strong in the wake of market volatility. The United Kingdom and France are part of the hundreds of nations being affected, and their officials have said they will not exclude any possibilities. China, the nation most severely hit by President Trump’s tariffs, meanwhile, revealed a significant retaliatory move.
All three U.S. major stock indexes dropped over 5% on Friday, with the S&P 500 declining almost 6%, marking the worst week for the US stock market since 2020. Thousands of protesters in Washington, D.C., New York, and other cities protested several Trump policies, ranging from the economy to government reductions.
Trump labeled the market turbulence as an “economic revolution” which the United States “will win.” “Hold firm, it won’t be easy, but the result will be historic,” he included in a message on Truth Social.
Trump and Musk Protest Policy changes
Trump and Musk Protest His policy changes have been affecting global supply chains. In the UK, the FTSE 100 dropped almost 5%, its largest decline in five years, and Asian markets also dropped, with stocks in Germany and France experiencing similar declines. Billionaire Elon Musk, a close friend of President Trump and director of the Department of Govern
ment Efficiency (DOGE), said the United States and Europe might develop a “zero-tariff situation,” which would make “a free trade zone between Europe and North America.” His comments, made during a trip to Italy to meet with government ministers, came days before the Trump administration imposed tariffs of up to 50% on April 9 on products it considers “most harmed” by trade imbalances with the United States.
Trump and Musk Protest about Tax
The EU is expect to hit with a 20% tax.
Trump and Musk Protest During his initial term, Trump criticized the planned free trade deal with the EU, the Transatlantic Trade and Investment Partnership (TTIP). Nevertheless, the trade war escalated to a point where he retracted his ultimatum to put tariffs on European automobiles in 2018. British Prime Minister Sir Keir Starmer made a series of phone calls to world leaders after Trump’s announcement to put tariffs on Wednesday.
Starmer’s reaction to Trump’s tariffs
Trump and Musk Protest Starmer’s reaction to Trump’s tariffs is slowing and accelerating at the same time.
>Downing Street issued a statement following Sir Keir’s discussion with French President Emmanuel Macron, in which the two concurred that trade war serves no one but no issues should be excluded. Sir Keir and Macron were also concerned with the global economic and security ramifications, especially in Southeast Asia.
China’s economy affected by Trump’s terrific
Trump and Musk Protest China, the second-largest economy in the world, was most affected by Trump’s retaliatory tariffs on nations it considers to be unfriendly to US interests. Beijing, on Friday, imposed retaliatory tariffs of 34% on US imports, the same rates Washington slapped on Chinese imports. Beijing also lodged a complaint about the new tariffs with the World Trade Organization.
>In a statement released a day after, China’s Ministry of Foreign Affairs called on Washington to “stop using tariffs as a weapon to suppress China’s economy and trade, and to stop undermining the legitimate development rights of the Chinese people.”
>In the nation’s capital, and throughout the United States, approximately 1,200 protests were anticipated Saturday, the biggest day of demonstrations against President Trump and Musk since the White House revealed the alterations in US government policy, increasing the authority of the executive branch.
The effect on trade
The effect on trade since the tariffs took effect has felt.
>In the UK, Jaguar Land Rover said it would halt all exports to the United States until it can deal with the new terms of trade.
