Responding to China's tariffs announcement, finance expert Stephen Innes has just said: "Are we officially out of the negotiating phase? China just torched that playbook, slapping a sweeping 34% tariff across all US imports, effective the day after Trump’s 'Liberation Day' duties kick in.
"The message from Beijing couldn’t be clearer: retaliation will be broad, fast, and relentless. And just like that, we’re back in a live-fire tariff environment — and markets are reeling."
He added it is not only the size of Mr Trump’s tariffs push that is "freaking the market", but the breadth and unpredictability as Wednesday’s rollout was deeper than priced.
Mr Innes said Mr Trump's targeting of drugs and microchips takes aim at two pillars of global supply chains, adding: "Markets wanted negotiation. Instead, they got escalation — and it’s hitting where it hurts: earnings, inflation, and margin guidance."
