May 8, 2025 7:17 pm
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World Faces Recession Risk Amid Trump’s Aggressive Tariff Decision

Market volatility continues following U.S. President Donald Trump’s abrupt change in tariff policy. Although the new tariffs were revoked within 24 hours of being implemented, global leaders remain uncertain about how to navigate the fragile state of international trade.

Trump’s temporary 90-day suspension of tariffs offered brief relief to countries, but the tension quickly resurfaced. With the U.S. and China imposing escalating tariffs on one another, fears of a full-blown trade war have intensified.

U.S. Treasury Secretary Scott Bessent stated on Thursday that over 75 countries are interested in trade negotiations with the United States. Despite the disruption caused by tariffs, President Trump remains optimistic about reaching an agreement with China, the world’s second-largest economy.

However, the ongoing shifts in U.S. trade policy have fueled instability in global markets. Such volatility was last seen during the COVID-19 pandemic. On Thursday, the S&P 500 index dropped by 3.5%, down nearly 15% from its February peak.

The ripple effect of Wall Street’s slump was felt in Asian markets as well. Japan’s Nikkei index fell by 4%, although markets in Taiwan and Hong Kong showed signs of recovery. European markets opened the day with slightly positive momentum.

Meanwhile, the sale of government bonds surged before the suspension decision and rose even higher on Friday. Long-term U.S. interest rates may see the sharpest weekly increase since 1982. Gold, often seen as a safe-haven asset, hit a record high.

Adam Hetz, head of multi-asset division at investment firm Janus Henderson, warned that the risk of a recession cannot be ruled out. In fact, recession fears have grown significantly compared to a few weeks ago.

Still, Treasury Secretary Bessent expressed confidence that reaching deals with other countries could stabilize the markets.

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