Trump’s Trade War Heats Up; Pharmaceuticals May Be Next

At 12:01 a.m. on Wednesday, President Donald Trump’s new round of tariffs took effect, slapping imports from China with a 104% tax and escalating what is shaping up to be a global with no clear off-ramp. China did not back down, instead retaliating by more than doubling its tariffs on U.S. goods from 34% to 84%.

The ripple effects were immediate: tumbled and global markets lost trillions of dollars. JPMorgan Chase CEO Jamie Dimon is already bracing for a , warning that a downturn is now the likely outcome of this economic brinkmanship. The Dow Jones industrial average fell more than 2,000 points, and Treasury yields rose sharply—classic signs of investor panic.

And the tariffs are not limited to China. Trump’s so-called “Liberation Day plan now affects more than 60 countries with new import duties. He has also hinted that pharmaceuticals may be next in line for tariffs.


Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.

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The post Trump’s Trade War Heats Up; Pharmaceuticals May Be Next appeared first on American Urban Radio Networks.

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