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Trump tariffs: Sell-off continues as markets consider tariffs

By
Published  April 7, 2025 4:28pm CDT
Consumer
FOX 26 Houston

The Brief

    • Financial markets extend losses, particularly in Asia, as Trump tariffs take effect.
    • President Trump has for decades been a critic of free-trade, and the nation's trade deficit, which currently stands at $1.2 trillion.
    • While tariffs can be a blunt financial tool, some economists believe they can force a rebalancing of the nation's trade structure.
    • Businesses that benefitted from cheap foreign labor may have a difficult time finding solid financial footing.
    • Messaging from the administration, that is sometime glib and tone-deaf, threatens to lose potential support.

HOUSTON - U.S. financial markets started the week with another day of volatility in response to tariffs imposed by President Donald Trump. 

The Dow Jones finished down 349 points while global markets saw a massive sell-off, particularly in Asia where tariffs could hurt the most. 

What they're saying:

"This, very much, is about how does the United States really negotiates a better trading position and better footing for the U.S. economy, and potentially, the economies of 'friends'... certainly not 'foes'," says WisdomTree economist Sam Rines. "It's going to be a very significant change for these businesses that got used to the way things were."

The Source: Sam Rines, economist at WisdomTree, The Wall Street Journal

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