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'It's hard to predict': Professor weighs in on stock market plunge following tariffs announcement

  • President Donald Trump announced new 25% tariffs on aluminum and steel products on April 2, 2025, raising U.S. Import duties to their highest levels in over a century.
  • The UK government is considering retaliatory tariffs, with Trade Secretary Jonathan Reynolds stating that a four-week consultation on the matter will occur.
  • The FTSE 100 fell to a three-month low following the tariff announcement, and the Dow Jones index dropped almost 4%, as analysts consider the risk of a U.S. Recession.
  • Economists predict that UK economic growth could decrease by up to 0.5 percentage points due to the tariffs' global effects, impacting Chancellor Rachel Reeves's fiscal plans significantly.
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Periódico Expreso - Más Cerca de Ti broke the news in on Thursday, April 3, 2025.
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