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European shares plunge to 16-month low as China retaliates to Trump tariffs

  • President Donald Trump’s tariffs have led to predictions of a 60% chance of a US recession, according to JP Morgan.
  • Transport Secretary Heidi Alexander stated that global tariffs are 'bad news for the global economy,' as they hurt demand and consumers.
  • JP Morgan raised the odds of a US recession to 60% following the tariff announcement, indicating economic uncertainty.
  • Trump acknowledged potential market declines but emphasized the need for tariffs, stating, 'sometimes you have to take medicine to fix something'.
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  • 37% of the sources lean Left
37% Left
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The Economist broke the news in London, United Kingdom on Sunday, April 6, 2025.
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