1. The Reward for Anti-American Policies:
Trump commented that an additional 10% tariff could be imposed on BRICS countries that he sees as supportive of (anti-American) policies, reiterating the threats.
2. Global Market Reactions:
U.S. markets experienced a noticeable decline, with the Dow and S&P 500 indices dropping by about 600 points amid aggressive selling.
Oil prices fell as fears of a global trade crisis increased, while investors turned to bonds (rising yields on U.S. bonds).
3. Losses Across Sectors and Companies:
The automotive sectors (European and Asian options) and technology were negatively affected.
Exports of crude oil and agricultural commodities are facing violent fluctuations due to trade uncertainty.
4. Effects on Producing Countries — Example: Indonesia:
Indonesia expects palm oil exports to the United States to drop by 15–20% due to a 32% tariff imposed on its imports, allowing Malaysia to gain market share.
5. Legal and International Context:
In May 2025, the U.S. trade court suspended the (Freedom Day Tariffs) imposed by Trump based on the National Emergency Act (IEEPA), considering they exceeded presidential powers.
So far, a limited number of mini agreements have been reached with Britain - China - and Vietnam, while talks with the European Union have stalled.