Trump's reciprocal tariffs officially take effect, and the global trade war is expected to intensify

PANews reported on April 9th that Trump's reciprocal tariffs on dozens of countries officially took effect today, which is expected to deepen the risk of a global trade war, despite his preparation to negotiate with some countries. Trump's punitive tariffs have shaken the global trade order that has lasted for decades, raising concerns about economic recession and causing global stock markets to plummet significantly. Since Trump announced the tariffs a week ago, the S&P 500 index has lost nearly $6 trillion in value, which is the largest four-day decline since the benchmark index was established in the 1950s. The index is now approaching a bear market, falling nearly 20% from its recent high. After a brief respite, Asian markets resumed selling on Wednesday, including the Nikkei index, which fell over 3% during the day, while the Korean KOSPI index dropped more than 1% intraday.