Trump Tariffs: US Emerges as Biggest Loser in Markets | The Opening Trade 04/03

President Donald Trump’s shake-up of the global trading system is hurting US assets more than those in many of the big economies he has just slapped with additional tariffs. US equity index futures tumbled after Trump announced a sweeping series of tariffs following the market close on Wednesday, and a gauge of the dollar slumped. But the impact elsewhere was less extreme. The Stoxx Europe 600 was down trading while the Euro was up against the dollar, hitting its highest level since October.
The widespread selloff in global markets makes clear that investors don’t expect any winners from the latest — and by the far the largest — salvo in a growing trade war.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Kriti Gupta.

Chapters:
00:00:00 – Opening Trade
00:01:11 – Trump Tariffs China, EU, Japan, Taiwan
00:02:34 – Euro Highest in Six Months After Tariffs
00:03:56 – Canada, Mexico Exempted from ‘Reciprocal’ Tariffs
00:07:44 – Von der Leyen on EU Response
00:11:59 – Scott Bessent Advises Countries Not to Retaliate
00:23:34 – Marco Rubio Arrives in Brussels for NATO Meeting
00:28:22 – Tariff Impact on Global GDP
00:42:23 – China Weighs Tariffs Response
00:42:27 – Gold Price Rally Continues
00:47:49 – European Stocks Fall at Market Open
01:06:32 – Shipping, Luxury Stoxx Drop on US Tariffs
01:10:14 – Vietnam Tariffs to Hit Footwear Stocks
01:11:42 – Oil Price Falls for Third Straight Day
01:31:11 – Markets Price ECB Rate Cuts
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