ENA Global 2025-04-09 15:24:50 <p><span style="font-size:14px"><strong>New Delhi, Apr 9 (KNN)</strong> President Donald Trump's reciprocal tariffs on dozens of countries took effect on Wednesday, including unprecedented 104 per cent duties on Chinese goods, intensifying a global trade conflict as his administration prepares for negotiations with some nations.</span></p> <p><span style="font-size:14px">These punitive measures have disrupted long-established global trading norms, sparked recession concerns, and triggered significant market downturns worldwide.</span></p> <p><span style="font-size:14px">The S&amp;P 500 has lost nearly USD 6 trillion in value since Trump announced the tariffs last week, marking the deepest four-day decline since the index's inception in the 1950s.</span></p> <p><span style="font-size:14px">The benchmark is approaching bear market territory, defined as 20 per cent below its most recent peak.</span></p> <p><span style="font-size:14px">Asian markets continued their decline on Wednesday following a brief pause, with Japan's Nikkei dropping over 3 per cent and South Korea's won falling to a 16-year low. U.S. stock futures indicated a fifth consecutive day of losses on Wall Street.</span></p> <p><span style="font-size:14px">Trump has sent conflicting messages about the longevity of these tariffs, describing them as permanent while simultaneously suggesting they are leverage to bring other leaders to the negotiating table.</span></p> <p><span style="font-size:14px"> We have a lot of countries coming in that want to make deals, he stated during a White House event on Tuesday. The administration has already arranged discussions with South Korea and Japan, two key allies and major trading partners, while Italian Prime Minister Giorgia Meloni is scheduled to visit next week.</span></p> <p><span style="font-size:14px">Vietnam's deputy prime minister, representing a low-cost manufacturing hub facing some of the highest duties globally, is set to meet with Treasury Secretary Scott Bessent on Wednesday.</span></p> <p><span style="font-size:14px">The prospect of potential agreements briefly boosted stock markets on Tuesday, though U.S. stocks relinquished those gains by the trading day's end.</span></p> <p><span style="font-size:14px">Trump nearly doubled the duties on Chinese imports from the previously announced 54 per cent after Beijing revealed counter-tariffs last week.</span></p> <p><span style="font-size:14px">China has pledged to resist what it considers economic blackmail, with top Chinese brokerages committing to collaborate on stabilising domestic share prices amid the tariff-induced volatility.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 41697 https://knnindia.co.in/news/newsdetails/global/trump-doubles-down-on-china-with-104-duties-beijing-vows-retaliation 2025-04-09 15:24:50 knnindia.co.in