Global stock markets regained ground on Tuesday, April 8, 2025, despite escalating trade friction driven by President Donald Trump’s aggressive tariff policies.
Effective Wednesday, Trump unveiled steep tariffs, including a staggering 104% levy on Chinese goods, triggering a worldwide sell-off and recession fears. Yet, Tuesday saw Wall Street, Europe, and Asia rebound as investors seized lower valuations and eyed potential US trade talks.
TRUMP SLAPS 104% TARIFF ON CHINA
— Breaking911 (@Breaking911) April 8, 2025
The US will impose a 104% tariff on Chinese imports starting Wednesday, responding to Beijing’s 34% retaliatory duties announced Tuesday. Trump, unfazed, insisted China “wants to make a deal, badly,” posting on social media, “We are waiting for their call. It will happen!” China’s commerce ministry fired back, slamming the US for “blackmail” and vowing to “fight to the end.” The EU, facing 20% US tariffs, urged de-escalation, with Ursula von der Leyen warning of global economic risks in a call with Chinese Premier Li Qiang.
President Trump will impose tariffs of at least 104% on China on Wednesday after Beijing missed the deadline to stand down on its retaliatory threat, the administration says https://t.co/qcgRnW78yx
— CNN Breaking News (@cnnbrk) April 8, 2025
China’s leader countered confidently, saying, “We can fully hedge against adverse effects and maintain healthy economic growth.” Meanwhile, French President Emmanuel Macron pressed Trump to reconsider, hinting at EU retaliation, potentially 25% tariffs on US goods like soybeans and motorcycles if forced to act.
🔥 @KatiePavlich: The liberal media will say ANYTHING to continue their anti-Trump screed.
"Democrats, for a number of years, have SUPPORTED tariffs like the ones the president is planning to put on a number of these countries."
"There COULD actually be some bipartisanship,… pic.twitter.com/qyhsDcTu8i
— Townhall.com (@townhallcom) April 8, 2025
Market Recovery Amid Uncertainty
Tuesday’s gains followed Monday’s sharp declines. Europe’s key indices rose over 2%, Asia’s markets lifted, and Wall Street climbed after Trump touted a “great call” with South Korea’s leader. “Investors grew optimistic about tariff negotiations,” said IG analyst Axel Rudolph. Trump aims to revive US manufacturing by luring foreign firms stateside. However, critics, including ally Elon Musk, who called trade advisor Peter Navarro “dumber than a sack of bricks”, argue the tariffs are reckless and arbitrary.
Read: Trump Defends Sweeping Tariffs, Warns of Pain Before Prosperity
According to trade official Jamieson Greer, nearly 50 countries, including Japan and Korea, have approached the US to negotiate. Argentina, Vietnam, and Israel have offered tariff cuts, signalling openness to deals. Despite internal GOP friction and Musk’s dissent, Trump shows no sign of retreat, doubling down on his stance as the world watches anxiously.