US stocks took a dip in early trade on Monday before President Donald Trump’s expected introduction to President Donald Trump’s wide tariff, said the President said “will affect all countries.”
Dow Jones Industrial Average fell 315 points or 0.75%, while SThere was a decline of 1.1% on Monday morning. Tech-Havi Nasdac recorded a decline of 1.75%.
Electric car manufacturer Tesla, led by billionaire Trump-Suffering Elon Musk, dropped about 6%.
The recession in the US markets followed the worldwide celloff wave.
Japan’s Nikkei index fell more than 4% and South Korea’s Kospi slipped 3% after opening on Monday. In Europe, British FTSE 100 declined by 1.18%, the German Dax Index declined by 1.82%and France’s CAC 40 fell by 1.76%.
Gold-a conventional safe-hobbon property-a new record of $ 3,128 reached a high level.
A currency merchant runs a currency merchant by screen showing the US dollar and a foreign exchange rate between South Korean on 31 March 2025 in Seoul, South Korea.
Lee Jin-Man/AP
Trump told reporters later this week that his tariffs could affect “all countries”.
He said, “Tariffs will be much more generous than those countries, meaning that they will be kind to the United States than those countries.”
Trump said, “For decades, he ripped us in such a way that no country has ever burst in history and we are going to be better than them, but this is enough money for the country.”
According to a statement by the White House, 25% of auto tariffs are one of the people applying on April 3. These measures will apply to imported passenger vehicles, including car, SUV, Minivan, cargo van and light trucks.
Analysts are widely expected that tariffs increase prices for foreign manufactured cars, as importers will be passed with a part of tax burden to consumers.
Cars produced in the US are also expected to undergo significant price growth as manufacturers will bear high costs for imported parts and will face an increase in demand as buyers seek domestic options, experts have told ABC News.
Trump rejected concerns about auto tariffs later this week. “The automakers are going to earn a lot of money,” he said. “American vehicle manufacturer or international vehicle manufacturer, if you are talking about them, are going to build in the United States.”
“People who are going to make money are the people who manufacture cars in the United States,” they continued. “Outside the United States, it’s going to be on them. I don’t care much about it. But you have a lot of companies coming to the country to manufacture cars.”
ABC News’ Hannah Demisi contributed to this report.
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