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"Trump's reciprocal tax" sparked a global trade war?
In the early morning of April 3rd, the global financial market was shaken after the speech by President Donald Trump about what is called the "countervailing tax" that will be applied to almost every country and zone in the near future.
This news has shaken the entire global financial market and caused heavy losses. Just after 2 days, Wall Street lost a staggering $2.5 trillion, the Dow Jones fell nearly 1,500 points, and the S&P 500 hit its lowest point since June 2020. In Vietnam, the VN-Index experienced its worst day in history, dropping 88 points, equivalent to 6.68%, in just one day.
China has responded strongly, while Vietnam is ready to reduce taxes on American goods to zero for negotiations. Will America accept concessions, or will tensions continue to escalate? Please watch today's video to understand more.