President Trump's new global tariffs, effective early April 2025, triggered significant market declines, particularly impacting technology stocks, as companies like Amazon, Meta, Nvidia, Alphabet, and Microsoft saw substantial drops. Simultaneously, China responded to prior US tariffs by imposing export restrictions on crucial rare earth elements, a move acknowledged by North American mining firm Ucore as highlighting the need for a localized supply chain. Furthermore, France indicated that the European Union was considering expanding its retaliatory measures against US tariffs to include digital services. The sweeping nature of Trump's trade policies raised fears of a global trade war and potential recession, prompting defensive shifts in investment and concerns over inflation.
