Global stocks slide as Trump imposes tariffs on imports

Global stock markets slumped, the dollar strengthened, and oil prices rose after President Trump imposed tariffs on imports from Mexico, Canada, and China, causing Asian markets to fall with Japan and South Korea performing the worst. European markets were also affected, with the STOXX 600 index down by 1.4% and Germany’s DAX down by 2%. Automaker stocks dropped due to the complex supply chain shared between the U.S., Canada, and Mexico, with companies like Stellantis, Volkswagen, Toyota, Nissan, Honda, GM, and Ford all seeing declines. President Trump hinted at imposing tariffs on the EU and the U.K., causing the dollar to strengthen against various currencies.

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