The New York stock market experienced a sharp decline after US President Donald Trump imposed new customs duties on 185 countries. Comparing the US economy to a patient in need of surgery, Trump stated, “The patient’s condition is critical. They underwent surgery. There will be an explosive economy. It will be magnificent.” The decree signed by Trump announced that the US would apply “mutual tariffs” to the 185 countries it trades with, with a base tariff rate of 10 percent, which drew international attention. Speaking to reporters on Air Force One, Trump warned that “a sharp decline in the markets can be expected due to the tariffs imposed on US trading partners.” Reflecting on the day when the New York stock market concluded with a sharp decline due to concerns that tariffs could push the economy into a recession, Trump remarked, “I think everything is going very well. Markets will explode, the stock market will explode.” Describing the US economy as having “a lot of problems,” Trump likened it to a patient in need of surgery. Trump said, “The patient’s condition is critical. They underwent surgery. There will be an explosive economy. It will be magnificent.” Trump defended that “if we had asked countries to do us a favor, they would have said ‘no,'” stating that now countries would do anything for them. He emphasized that many production facilities have been built in the US and numerous construction projects will now be seen as a result, stating that tariffs will “enrich the US significantly.”

Title: Sharp Decline in US Stock Market
The New York stock market concluded the day with a sharp decline due to concerns that the tariffs announced by US President Donald Trump yesterday could push the economy into a recession. The S&P 500 and Nasdaq indices recorded their largest daily losses since 2020.

WIDESPREAD FEARS OF TRADE WAR

Yesterday, US President Donald Trump signed an executive order imposing unprecedented customs duties on all products imported into the US. The decree projects the imposition of tariffs on many of the US’s trade partners. Tariff rates range from 10% to 50%. As part of this, it is planned to impose tariffs of 20% on the European Union, 34% on China, 46% on Vietnam, 32% on Taiwan, 24% on Japan, 26% on India, 25% on South Korea, 36% on Thailand, 31% on Switzerland, 32% on Indonesia, 24% on Malaysia, 49% on Cambodia, 30% on South Africa, 37% on Bangladesh, and 17% on Israel. A 10% customs duty is envisioned for some countries, including Turkey, the United Kingdom, Brazil, Australia, the United Arab Emirates, New Zealand, Egypt, and Saudi Arabia. Additionally, Trump detailed the previously announced 25% automobile tariffs set to take effect on April 4th, affecting trucks, engines, lithium batteries, tires, and other parts like shocks and struts. This situation has raised concerns about the outbreak of a widespread trade war that could lead to global economic slowdown.