Trump tariffs sow fears of trade wars, recession and a $2,300 iPhone
Trump tariffs sow fears of trade wars, recession and a $2,300 iPhone
WASHINGTON/OTTAWA/TOKYO, April 4 (Reuters) - Countries around the world threatened to wage a trade war with the United States as President Donald Trump's sweeping tariffs fed expectations for a global downturn and sharp price hikes for swathes of goods in the world's biggest consumer market.
The penalties announced by Trump on Wednesday triggered a plunge in world financial markets and drew condemnation from other leaders reckoning with the end of a decades-long era of trade liberalization.
