Global markets plunge, Germany slams ‘nonsense’ tariffs

Stock markets across Asia and Europe have dropped sharply as the shockwaves from United States President Donald Trump’s tariffs continue to be felt around the world.
European trade officials are meeting in Luxembourg to discuss response to Trump’s move, with Germany calling the US tariffs policy “nonsense”.Musk vs Navarro: Is the Trump team divided on tariffs?
While Trump has doubled down on his tariffs plan, signs of divisions among the US president’s aides – including billionaire Elon Musk and trade adviser Peter Navarro – are emerging.

In an interview on Thursday, Navarro, a longtime Trump aide and the administration’s senior counsellor for trade and manufacturing, defended the tariffs.

“The market will find a bottom. It will be soon, and from there, we’re going to have a bullish boom, and the Dow is going to hit 50,000 during Trump’s term,” Navarro told CNN.

As of Monday, the Dow Jones stood at 38,314 before the start of trading.

After an X user posted a clip of Navarro’s interview and alluded to the adviser’s doctorate from Harvard University, Musk hit back on the platform, which he owns.

“A PhD in Econ from Harvard is a bad thing, not a good thing,” Musk posted.