Global Markets React to US Tariff Threats; EU Prepares Countermeasures

NEW YORK (AP) — Global markets experienced volatility ⁤following ⁣recent tariff threats by the United States, with Asian markets showing mixed performance and the European Union considering retaliatory measures.

Asian Markets Attempt Rebound after Losses

‍ Asian stock exchanges attempted a rebound following notable losses triggered by concerns over U.S. trade policies.Tokyo’s Nikkei index surged by ⁣5.6% in early trading.
‍ ‍ ⁤ Shanghai rose 0.44%, and Hong Kong gained 0.3%.
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however, not all Asian markets shared in the recovery. Taiwan and Jakarta continued to struggle, reflecting ongoing investor anxiety.

Indonesian Exchange Briefly Suspended After Plunge

Trading on the Indonesia⁤ Stock Exchange was temporarily suspended after the Jakarta Composite Index plummeted by 9.19%. The steep decline followed a⁤ prolonged holiday break, with trading resuming amid uncertainty surrounding U.S. tariff policies. According to the exchange, trading was⁤ halted for approximately 30 ⁣minutes before resuming.

China Urges Dialog, Rejection of ⁣Unilateral Tariffs

Beijing has ⁢called on Washington to engage in dialogue to resolve trade disputes. A Ministry⁣ of Commerce spokesperson stated that China urges the U.S. to “erase all unilateral duties⁤ against China,to stop⁣ economic and commercial suppression against China ⁤and ⁢adequately resolve the differences with China through dialogue with ⁣mutual respect and on a level of equality.”
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The statement comes in response to U.S. ⁣President Donald Trump’s threat‍ to ⁢impose additional tariffs if ⁤China does not withdraw its retaliatory duties on U.S. goods.

EU Drafts Countermeasures, Considers Tariffs on US Products

⁣ ⁤ The European Union is preparing⁢ to respond to new tariffs imposed by the U.S. The EU’s foreign and trade ministers met and approved a list of countermeasures developed by the European Commission. These ⁣measures include tariffs ranging from 10% to 25% on various U.S. products.

Trump Doubles ‍Down: Threatens Further Tariffs on China

⁢ ⁤ President Trump reiterated his stance, stating that China would face⁣ an additional 50% tax ⁤if it does not eliminate its retaliatory tariffs. He also mentioned that numerous countries are seeking to‍ negotiate ⁣trade agreements with‍ the U.S., citing Japan as an example.