Many new prices, announced by Trump on April 2, entered into force on Wednesday morning. They target a wide range of imported goods and have sparked a world trade war, as major economies provide for reprisal measures.
Trump’s prices include massive tasks of 104% on Chinese products, while dozens of other nations, as well as the European Union, will be faced with prices ranging from 11% to 50%.
Asian actions collapsed Wednesday morning while the new prices started with key markets already opened. In Japan, the Nikkei index fell by more than 5%, while the larger Topix index dropped by 4.6%. The Hong Kong Hang Seng index lost 4.3% and the Taiwan market plunged more than 5.7%.
Speaking at the event on Tuesday evening, Trump also announced additional prices plans on pharmaceutical imports.
“We are going to priced our pharmaceutical products and once we do it, they will rush into our country because we are the big market,” he said.
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