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World economies brace for Trump tariffs ahead of deadline

World economies brace for Trump's tariffs, fearing global trade turmoil as markets react and major partners prepare countermeasures against U.S. policies.

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 24, 2025. R / EUTERS/Brendan McDermid/File Photo

World economies were jittery on March 31 ahead of US President Donald Trump's "Liberation Day" when he is set to unleash tariffs against multiple countries, risking global turmoil to redress what he says are unfair trade imbalances.

Trump, who has been making unprecedented use of presidential powers since taking office in January, is set to announce on April 2 exactly what tariffs will be imposed and whether they will target entire sectors.

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