Global Trade Tensions Rise as Trump's Tariffs Take Effect

According to BlockBeats, U.S. President Donald Trump's reciprocal tariffs on dozens of countries have officially come into effect, heightening concerns about a global trade war. Despite his willingness to negotiate with some nations, these punitive tariffs have disrupted the longstanding global trade order, sparking fears of an economic downturn and causing significant declines in global stock markets. Since Trump announced the tariffs a week ago, the S&P 500 index has lost nearly $6 trillion in value, marking the largest four-day drop since the index was established in the 1950s. The index is now approaching bear market territory, defined as a 20% decline from recent highs. After a brief respite, Asian markets resumed their sell-off on Wednesday, with Japan's Nikkei index falling over 3% and South Korea's KOSPI index dropping more than 1% during the day.