Global markets tumbled Monday as President Donald Trump announced plans for new tariffs against the United Kingdom and European Union, escalating trade tensions and sparking fears of a wider economic slowdown. The move comes amid a renewed, and widely criticized, push by the Trump management to acquire Greenland.
Stock futures in both the US and Europe experienced significant declines. investors flocked to safe-haven assets like gold and US Treasury bonds, driving up prices. The Dow jones Industrial Average was down over 300 points in pre-market trading.
European Union leaders are convening an emergency meeting to discuss a coordinated response to the tariff threat. Details of potential retaliatory measures are expected later today.
Beyond the trade dispute, the Trump administration is also moving forward with the creation of a “Board of Peace” for Gaza, a plan that has drawn skepticism from international observers. Details remain scarce, but the initiative appears aimed at bypassing traditional diplomatic channels.
In the Middle East, Saudi Arabia is finalizing an agreement to establish a new military coalition with Somalia and Egypt. The stated goal is to counter iranian influence in the region. Meanwhile, the US has sharply increased its criticism of South Africa following recent joint naval exercises involving Iran.
Anita Krishna Gupta, CIO at Wealthbrix Capital Partners, warned that the tariffs could significantly disrupt global supply chains. “we’re looking at a potential slowdown in growth, particularly in Europe,” Gupta said. David Wilson,Director of Commodities Strategy at BNP Paribas,noted the surge in safe-haven demand,adding,”This is a clear indication of investor anxiety.”
