Wild market swings as Trump threatens 104% China tariff

Wild market swings as Trump threatens 104% China tariff

Trump administration considering drone strikes on Mexican cartels.

World financial markets have been on a roller coaster since opening again on Monday following the unveiling of Trump’s tariff program last week. Though there were some fluctuations over news of possible trade deal negotiations with certain countries, international markets closed on a downswing both Monday and Tuesday.

According to White House press Secretary Karoline Leavitt, 70 countries have approached with offers of negotiations in response to Trump’s tariff threats. Most of the tariffs Trump outlined are to be implemented this week.

Market pessimism won out after Trump announced today that the US would impose a 104% tariff on Chinese goods beginning at 12:01 a.m. Wednesday. This was in response to Beijing levying a 34% tariff, which was itself a response to Trump imposing an additional 34% tariff on China last week.

A Reuters/Ipsos poll found that 73% of Americans are anticipating price surges on everyday items due to Trump’s tariffs. A majority of respondents (57%) opposed the tariffs. Economists are predicting that Trump’s tariffs could push the US and the rest of the world into a recession.

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Trump administration considering drone strikes on Mexican cartels

According to current and former federal law enforcement, military, and intelligence officials, The Trump administration is considering taking military action against cartels in Mexico involved in the fentanyl trade. Plans are still in the development phase but have included the possibility of the US military carrying out drone strikes against cartel figures and logistical hubs in Mexico.

According to the sources, this planning foresees cooperation with the Mexican government. However, Mexico’s president Claudia Sheinbaum has repeatedly rejected any suggestion of US military action on Mexican soil as an unacceptable violation of Mexico’s sovereignty. The sources say that unilateral action by the US has not been ruled out.

President Sheinbaum apparently has given the US military and intelligence services permission to conduct surveillance flights over Mexico in order to assess potential targets.

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