Trade Tensions Escalate: Trump's Tariff Turmoil Spurs Market Uncertainty

In a dramatic turn of events, the U.S. Supreme Court overturned President Trump's emergency tariff policy, intensifying global trade tensions. This move prompted President Trump to increase tariffs to 15% on all international trades, a decision met with international consternation and domestic political hesitance.

The tariff hike, effective immediately, has complicated trade dynamics with countries like Russia and North Korea unexpectedly included. Nations such as India have paused their trade agreements with the U.S., while European markets witness a downturn as confusion reigns over the implications of this sweeping policy.

As legal battles loom over the refund of nearly $170 billion in tariffs, Treasury Secretary Bessent's embargo threats add to the chaos. The market faces further volatility ahead of Nvidia's earnings report, with investors closely monitoring potential disruptions to the AI sector.