{"id":133280,"date":"2025-04-11T09:11:14","date_gmt":"2025-04-11T09:11:14","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/tariffs-latest-asian-and-us-markets-plunge-as-trump-faces-insider-trading-accusations-sky-news\/"},"modified":"2025-04-11T09:11:14","modified_gmt":"2025-04-11T09:11:14","slug":"tariffs-latest-asian-and-us-markets-plunge-as-trump-faces-insider-trading-accusations-sky-news","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/tariffs-latest-asian-and-us-markets-plunge-as-trump-faces-insider-trading-accusations-sky-news\/","title":{"rendered":"Tariffs latest: Asian and US markets plunge – as Trump faces insider trading accusations – Sky News"},"content":{"rendered":"

China has hit back at Donald Trump, raising tariffs on US goods to 125% from 84%. It comes as Asian and US markets plunge. Meanwhile, the US president faces accusations of insider trading – listen to Trump 100 as you scroll.
Friday 11 April 2025 10:05, UK
Our US correspondents Mark Stone<\/a> and David Blevins<\/a> are back this afternoon at 4pm to answer your questions in their regular Q&A edition of the Trump 100 podcast.
Submit your question on anything Trump-related in the box at the top of the page.
By Ed Clowes, business reporter<\/b>
Europe’s key stock indexes have turned negative in the past hour as news broke that China will strike back at Trump’s tit-for-tat tariffs by increasing its duties on American products to 125% from the previous 84%.
The FTSE 100, a collection of the UK’s largest companies, dropped to 0.5% after starting the day slightly up, while Germany’s Dax 40 dropped 1.5% and France’s Cac 40 fell by 0.9%.
Asian markets were a more mixed picture, with Japan’s Nikkei down nearly 3%, but Shanghai’s stock index up 0.45%, as a whipsaw week of trading draws to a close in the region.
Oil prices look set to fall for a second consecutive week, while gold has hit a record high with investors turning to perceived safer havens to ride out economic volatility. 
China has announced an increase in tariffs on US goods – from 84% to 125% – but said there will not be further increases.
The finance ministry said the current tariff level means there is no market acceptance for US goods exported to China.
“If the US continues to impose tariffs on Chinese goods exported to the United States, China will ignore it,” the ministry said. 
What US tariffs does the world face? Here are the key numbers at a glance:
China v US <\/b>
10% tariff for most of the world<\/b>
No change for Canada or Mexico<\/b>
Car and metal tariffs remain<\/b>
Sectors at risk<\/b>
China’s commerce ministry has accused Washington of violating international economic and trade rules “and common sense” as Beijing raised tariffs on US goods to 125%.
It says the US should bear full responsibility for the “serious shocks and violent turbulence” facing global financial markets.
In a statement, the ministry acknowledges that the US has paused some tariffs “under pressure from China and other parties”.
But it adds: “This is only a small symbolic step and has not changed the nature of the United States seeking private interests through trade blackmail. 
“China urges the United States to take a big step in cancelling the so-called “reciprocal tariffs” and thoroughly correct its wrong practices.”  
China has announced it is raising additional tariffs on US goods to 125%, up from 84%. 
The tariffs will come into effect from tomorrow, the Chinese finance ministry says.
If the US insists on continuing to infringe on China’s interests then Beijing will take countermeasures and “fight to the end”, it says.
“The US’s imposition of abnormally high tariffs on China seriously violates international trade rules, basic economic laws and common sense, and is completely a unilateral bullying and coercion,” the ministry says.
It comes after Donald Trump announced a 90-day pause on additional tariffs for most countries but raised those on China to 145%.
By Ed Clowes, business reporter<\/b>
The UK’s most important stock index climbed gently this morning, with the market opening around 0.4% up after a strong bounceback yesterday.
It comes after a week of wild market swings up and down in response to Trump’s sweeping tariffs, as the global economy shuddered in response to the quickly materialising trade war.
The Mexican mining company Fresnillo was the top performer, growing 3.6% in the first 20 minutes of trading, while BP was the biggest loser, dropping 1.7% and continuing a poor run of form that has seen the company’s share price fall by more than a fifth this week.
Elsewhere in Europe markets were also positive, with France’s benchmark Cac 40 index gaining 0.4%, and Germany’s Dax index also increasing by 0.4%.
As we’ve reported, Asian markets plunged overnight and had been on track for their worst week since the 2008 financial crash after further turmoil on US markets – which closed down yesterday.
 President Xi Jinping has called on China and the EU to work together to “oppose unilateral bullying practices” – a reference to Donald Trump’s trade tariffs.
“There are no winners in a tariff war,” the Chinese leader said after talks with Spanish Prime Minister Pedro Sanchez.
“Going against the world will only lead to isolation,” he said.
While most countries were given a 90-day reprieve from tariff increases, China was instead hit by 145% tariffs as Trump pursues a trade war with Beijing. 
Mexico is “stealing” water from Texas and could face additional tariffs if it doesn’t stop, Donald Trump has claimed.
Farmers in the Lone Star State are being “hurt” by Mexico, Trump said, referencing an 81-year-old agreement.
Under the 1944 Water Treaty between the two countries, Mexico must send the US 1.75 million acre-feet of water from the Rio Grande every five years. 
An acre-foot of water is enough to fill about half an Olympic-sized swimming pool. 
“Mexico has been stealing the water from Texas Farmers,” Trump said on Truth Social. 
He added: “We will keep escalating consequences, including TARIFFS and, maybe even SANCTIONS, until Mexico honours the Treaty, and GIVES TEXAS THE WATER THEY ARE OWED!”
Mexico’s President Claudia Sheinbaum posted on X that Mexico has suffered a three-year drought but has been complying with the water treaty “to the extent water is available”. 
The so-called Wolf of Wall Street Jordan Belfort has broken his silence on Donald Trump’s tariffs, weighing in on questions of insider trading at the White House.
Opponents say the president has questions to answer after he said it was a “great time to buy” shares – four hours before the stock market surged on Wednesday when he paused tariffs.
But Belfort told Sky News’ Gillian Joseph<\/a> <\/strong>the fact Trump made the statement on social media meant it was public, rather than him tipping off a few people.
Speaking on The World programme<\/a><\/strong>, Belfort said: “I personally don’t find it overly suspicious. Especially since he’s told it to everybody at once.
“If he hadn’t said anything and told five of his best friends ‘I’m gonna ease this tariff situation – you should be buying’, that would be illegal.”
Insider trading is when people take advantage of non-public information to buy or sell shares and make a gain.  
‘Insane’ trade imbalance<\/b>
Belfort added that while he was against tariffs generally, Trump’s dramatic intervention was necessary as the US has an “insane” trade imbalance and imports far more than it exports.
“The United States has been drained of its wealth, drained of its factories,” he said.
“It’s not gonna be pretty,” Belfort added. “There’s going to be pain – but the path we were on before is simply unsustainable. It had to change.” 
The UK economy grew unexpectedly in February – but that feels redundant now after Donald Trump’s tariffs, says business and economics correspondent Gurpreet Narwan.<\/a><\/b>
The figures, which show the economy grew by 0.5% rather than the expected 0.1%, are already out of date.
“It might be the last growth we see now that Donald Trump has imposed sweeping tariffs on countries across the world,” Narwan says.
“He’s rowed back, but we’re still being hit with that 10% tariff.”
There is still a huge trade war unfolding between the world’s largest economies, Narwan says: “That will have ripple effects for the global economy, including in the UK.” 
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Install the Sky News app for free<\/p>\n

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