Trade War Escalates: Wall Street Plunges, Allies Retaliate with Tariffs
Summary
The escalating trade war triggered a massive Wall Street selloff and retaliatory tariffs from allies like Canada and the UK, signaling an intensifying global economic clash with far-reaching consequences.
Key Points
- Wall Street suffered its worst day since 2020 after Trump announced global tariffs
- Canada announced 25% tariffs on certain US vehicles in retaliation
- The UK published a 417-page list of US goods that could face tariffs in response