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Wall Street Stumbles as Trump’s Tariff Threats Rattle Global Markets

U.S. stock markets kicked off the week in the red as renewed trade tensions sparked by former President Donald Trump sent shockwaves through Wall Street. The Dow Jones Industrial Average tumbled over 400 points, while the S&P 500 and Nasdaq Composite dropped 0.8% and 0.9% respectively. The sell-off followed Trump’s announcement of sweeping new tariffs set to take effect on August 1. In a series of public letters posted to social media, Trump warned that countries including Japan, South Korea, South Africa, and Malaysia would face levies ranging from 25% to 40% unless trade agreements are finalized by a self-imposed July 9 deadline. Adding to the market jitters, Trump declared that any nation aligning with the “Anti-American policies of BRICS” would be hit with an additional 10% tariff, escalating tensions with key trading partners like China and India. The tech sector bore the brunt of the downturn, with Tesla shares plunging nearly 7% amid political controversy surrounding CEO Elo...
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Ecuador’s Trade Pivot: Noboa Imposes 27% Tariff on Mexican Imports

Ecuador’s President Daniel Noboa has announced a 27% tariff on Mexican goods, a move aimed at ensuring fair treatment for domestic companies amid ongoing trade imbalances. Speaking on the social platform X, Noboa reiterated his openness to expanding trade and even signing a free trade agreement with Mexico—provided that current abuses are addressed. Until such an agreement is reached, the tariff will remain in effect.

The decision follows heightened diplomatic tensions that arose last year after relations between Ecuador and Mexico soured over a controversial raid on the Mexican embassy in Quito to arrest a former Ecuadorean vice president. The strained relationship has left Mexico’s economy ministry yet to comment on the new measure.

Notably, this announcement comes just days before Ecuador’s first-round general election, in which Noboa is seeking re-election. The tariff is seen as both a protective economic measure and a politically strategic move to appeal to local industries that have long argued for fairer trade practices.


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