President Donald Trump’s recent move to impose a 20% tariff on European Union (EU) goods has sparked a major global trade dispute, triggered market crashes, and caused mass protests across the U.S. and abroad.
The new tariffs, announced last week, mark the latest escalation in what economists call a full-blown trade war. In a Truth Social post on Sunday night, Trump has doubled down: “Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN… Be Strong, Courageous, and Patient, and GREATNESS will be the result!”
The EU has responded by finalizing its list of retaliatory tariffs, targeting American exports like bourbon, motorcycles, and soybeans. Officials confirmed the list will be finalized by Wednesday and implemented by April 15.
European Trade Commissioner Maros Sefcovic commented on social media after a two-hour meeting with U.S. representatives: “The E.U. is committed to meaningful negotiations but also prepared to defend our interests.”
Stock markets around the world have plunged. On Monday:
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Hong Kong’s Hang Seng index fell by 13.2% — its worst single-day drop since 1997.
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European stock markets fell by 4–5%.
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The U.S. stock market braced for further decline, with futures pointing to continued losses.
JPMorgan CEO Jamie Dimon warned on Sunday, “Trump’s tariffs could tip the global economy into recession.”
Trump’s Inner Circle Divided
While Trump continues to defend the tariffs as a revenue source, even some of his top allies are questioning the approach. Tech billionaire Elon Musk, a key Trump adviser, told supporters in Florence, Italy: “I hope Europe and the United States move to a zero-tariff situation, effectively creating a free-trade zone.”
Hedge fund manager Bill Ackman also criticized the tariffs, saying they “hurt American consumers and businesses.”
Protests Erupt Nationwide
On Saturday, over 1,400 “Hands Off!” protests were held across all 50 U.S. states and several major international cities, such as London and Paris. Organizers, led by the Indivisible movement and a broad coalition of civil rights groups, condemned what they called Trump and his adviser Musk’s “billionaire power grab.”
Rep. Jamie Raskin (D-MD) declared at the Washington Monument rally: “No moral person wants an economy-crashing dictator who knows the price of everything and the value of nothing.”
Rep. Ilhan Omar (D-MN) added: “If you believe in a country where we take care of our neighbors… we have to fight for it.”
In Los Angeles, protesters marched a 1-mile loop, chanting “Power to the People” and holding signs reading “Hands Off Education” and “Resist, Resist.”
Public Services Under Pressure
Meanwhile, Trump and Musk’s government downsizing plans have led to thousands of federal layoffs, cuts to Social Security staff, and the dismantling of foreign aid programs. Elon Musk, head of the Department of Government Efficiency, boasted of putting USAID “in the wood chipper,” prompting outrage among humanitarian organizations.
Union Leaders Speak Out
Federal employee unions joined the protests, accusing the administration of destroying public services. Randy Erwin, president of the National Federation of Federal Employees, said in Washington, D.C.,“They claim to be making government more efficient. That is a joke… a cruel joke.”
The Situation Ahead
Despite growing unrest, Trump remains defiant, promising that tariffs will generate “billions of dollars a week” for the U.S. Treasury. European leaders are considering hitting back with product tariffs and targeting U.S. tech giants like Google if talks break down.
French official Stéphane Séjourné stated Monday that Europe has pulled bourbon from its retaliation list to avoid harsh U.S. alcohol tariffs, but warned that digital services could follow.
The White House has yet to provide a clear negotiation timeline. Treasury Secretary Scott Bessent told CNN: “These aren’t the kind of issues you can negotiate away in days or weeks.”
As global markets remain volatile and domestic unrest spreads, both sides appear to be digging in, leaving businesses, workers, and everyday people caught in the middle.
