The long-awaited decision regarding reciprocal tariffs has been announced by the US government, with Donald Trump dubbing it “Libertarian Day.”

Tariffs have now been applied to all of the United States trading partners, calculated based on each nation’s trade balance, and are broader in scope than previously anticipated.

It appears that the trade war has officially commenced, leading to turmoil within global financial markets that exceeds earlier projections.

Investors are becoming increasingly aware of the potential risks these developments pose to worldwide financial systems, which could hinder economic growth, stifle economic activity, and disrupt supply chains.

While it is still too early to fully gauge the actual impact and associated costs, risk assets are already facing intense pressure, and equity markets are beginning to feel the strain. Oil prices have dropped sharply, although this may benefit oil-importing economies.

Similarly, gold prices have experienced a sharp decline.

There is a looming concern that the burden of these tariffs will eventually fall on consumers, potentially triggering inflation and raising the likelihood of stagnation.

A downward revision of the global economic outlook is anticipated, as the current situation is........

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