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13.06.2025 ⇢ Day Markets Plummeted Under Trump's "Medicine"

Global markets experienced severe turmoil as Trump's tariff "medicine" took effect. Asian markets opened with steep declines, setting the tone for a day of financial panic. By morning, European markets followed suit with the FTSE 100 plunging 6% to a one-year low.

Trump remained defiant throughout the day, dismissing calls for a tariff pause while threatening China with an additional 50% tariff if Beijing didn't withdraw its 34% retaliatory levies. BlackRock's CEO stated the US was "probably in recession" while Goldman Sachs raised recession chances to 45%.

Prime Minister Starmer characterized the tariffs as a "huge challenge" as his government prepared a response to protect British interests. Meanwhile, France warned the EU could take "extremely aggressive" actions against US tariffs, while the EU offered a "zero-for-zero tariff" arrangement on industrial goods.

By day's end, most US markets closed down after a rollercoaster trading session, with growing fears of an "economic nuclear winter." HEBREWSUMMARY: Not applicable LOCALSUMMARY: Global markets experienced severe turmoil as Trump's tariff "medicine" took effect. Asian markets opened with steep declines, setting the tone for a day of financial panic. By morning, European markets followed suit with the FTSE 100 plunging 6% to a one-year low.

Trump remained defiant throughout the day, dismissing calls for a tariff pause while threatening China with an additional 50% tariff if Beijing didn't withdraw its 34% retaliatory levies. BlackRock's CEO stated the US was "probably in recession" while Goldman Sachs raised recession chances to 45%.

Prime Minister Starmer characterized the tariffs as a "huge challenge" as his government prepared a response to protect British interests. Meanwhile, France warned the EU could take "extremely aggressive" actions against US tariffs, while the EU offered a "zero-for-zero tariff" arrangement on industrial goods.

By day's end, most US markets closed down after a rollercoaster trading session, with growing fears of an "economic nuclear winter."
These overviews were written by an AI

The Guardian

China says it will not bow to US pressure after Trump threatens additional 50% tariffs – business live

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The Sun

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Mirror

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Daily Mail

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23:23

Sky News

Trump says no pause on tariffs after rollercoaster day on Wall Street ends with most US markets down

22:33

BBC

Trump threatens new 50% tariffs on China

The US president says he will introduce the additional tax unless Beijing withdraws its own 34% counter-tariff on American goods.
22:33

The Times

Trump: I will not pause tariffs — we can’t be stupid any more

President threatens China with 104% charges as more than 50 nations rush to negotiating table
21:18

The Independent

Trump dismisses tariff pause as Netanyahu vows to ‘eliminate’ US trade barriers

20:18

Channel 4

Trump tariffs cause global economic turmoil

So far there is no sign that President Trump is backing away from his tariff policy. For him it has been an article of faith for decades.
19:18

Morning Star

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17:53

The Spectator

Trump hits back at China’s retaliatory tariffs

17:44

Metro

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Spiked

Burning down our liberties

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17:28

HuffPost UK

Economist Unpacks Trump’s Tariffs

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15:46

Breitbart UK

Art of the Deal: EU Offers Trump ‘Zero-for-Zero Tariffs’ on Industrial Goods with United States

EU Commission President Ursula von der Leyen said on Monday that the bloc has offered a “zero-for-zero tariff” trade arrangement on industrial goods with the United States in a bid to avoid a full-on trade war.
15:46

Novara Media

Ten Brits Accused of War Crimes in Gaza, Including Killing Civilians

Legal experts have lodged a landmark report with the Met police, alleging that British citizens have committed war crimes and crimes against humanity while fighting with the IDF in Gaza. Harriet Williamson reports.
12:12

New Statesman

China intends to crush the trade war

Beijing has retaliated against Donald Trump's tariffs — and the response was far stronger than expected.
06:22
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