Trump Calls for Resilience as 10% Tariffs Take Effect, Sparking Global Market Decline

Trump Calls for Resilience as 10% Tariffs Take Effect, Sparking Global Market Decline

The United States has begun imposing a 10% baseline tariff on all imports, with President Donald Trump urging Americans to “stay strong” amid economic uncertainty. The move, which has broad global implications, has drawn reactions from leaders in the UK, France, and particularly China — the latter responding with its own steep tariffs and filing a formal complaint with the World Trade Organization.

Friday saw significant losses across all three major US stock indices, with the S&P 500 suffering its worst weekly drop since 2020. Protests erupted in several US cities, targeting Trump's economic policies and government reforms.

Despite the turmoil, Trump labeled the situation as an “economic revolution,” predicting historic outcomes. His trade policies continue to disrupt global supply chains, with sharp market declines also seen in the UK, Europe, and Asia.

Elon Musk, who currently oversees the Department of Government Efficiency (Doge), suggested a potential shift toward a transatlantic free-trade zone. Meanwhile, the Trump administration is preparing to roll out even steeper tariffs on select countries starting April 9, with the EU set to face a 20% levy.

UK Prime Minister Sir Keir Starmer has been in talks with world leaders, including French President Emmanuel Macron, expressing concern over the economic and geopolitical ripple effects. Both leaders emphasized that while conflict should be avoided, all options remain open.

China, bearing the brunt of the tariffs, announced matching retaliatory measures and condemned the US for weaponizing trade. In a statement, Beijing called on Washington to halt actions that undermine China’s economic development and international trade rights.