*U.S. tariffs trigger over $3 trillion stock market loss.
*U.S. Pres. Trump's tariff plunges Argentine stock market and boosts country risk.
teleSUR
*U.S. Pres. Trump's tariff plunges Argentine stock market and boosts country risk.
teleSUR
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NewsTranscript
00:00The president of the United States, Donald Trump, has confronted the head of the Federal
00:04Reserve, Jerome Powell.
00:06The data of the agency in charge of the country's monetary policy contradict the tenet of the
00:10White House.
00:11This Friday, in a new act of interference, the U.S. president ordered the Fed to lower
00:16interest rates so as not to harm the economy, but the president of the organization does
00:21not share the criteria and warns that the head of state's tariff measures seriously
00:25complicate the country's outlook.
00:27Powell assured us since the announcement they are facing a very uncertain outlook with
00:31high risk of increased unemployment and inflation.
00:44And the losses caused by the tariffs implemented by the U.S. administration since last Tuesday
00:48amount to more than $3 trillion.
00:51These economic measures are already leaving their forced consequences on the stock market,
00:55which is the space where financial assets are bought and sold.
00:59According to calculations by financial portals in the country, Wall Street, the main financial
01:03block in the United States, has lost $9.6 trillion since Trump's inauguration.
01:08Likewise, the main stock market indexes reported falls.
01:11This is the case of the technological Nasdaq, with a total of more than 5,000 companies,
01:17which lost 5.97%.
01:19In this context, analysts warn that Trump's tariff war poses a significant risk to global
01:23economic growth.
01:33And in response to the increase in tariffs imposed by U.S. President Donald Trump, the
01:36Indian government has promised to act.
01:39When Indian Prime Minister Narendra Modi participated in the sixth summit of the Gulf of Bengal
01:44Initiative for Multisectoral, Technical and Economic Cooperation in Thailand, he proposed
01:49a 21-point action plan that addressed the various facets of cooperation among the bloc's
01:54members' nations.
01:56He also explained that in order to define the course of action and the opportunities
02:00that may arise from the new U.S. tax package, he is continuing to work with all industry
02:05stakeholders and domestic exporters while also reviewing the tariff situation with his
02:10economic team.
02:17While U.S. President Donald Trump deals a strong blow to the far-right government of
02:21Argentine President Javier Melendez, the tariff war sinks the Merval Index by almost 10%.
02:28The White House measure also had a significant impact on the certificates of Argentine companies
02:33known as ADR, some of which fell by up to 15%.
02:37The most affected are Banco Supervilla BBVA and Macro, which fell between 15 and 13.5%.
02:47In view of the situation, the country risk indicator prepared by the firm J.P. Morgan
02:52showed up in the South American nation to 925 points.
02:57The Merval Index, which measures the performance of Argentine shares and markets, fell up to
03:0210 points.
03:11And after participating in the American Patriots Gala in Florida, Argentine President Javier
03:16Melendez returned to Buenos Aires without a photo with his U.S. counterpart Donald Trump.
03:21The fact caused uneasiness in the government since the meeting with the U.S. President
03:26was one of the main objectives of this trip, as it would have served as a message of strength
03:31in the negotiations with the International Monetary Fund.
03:34President Melendez was awarded the Lion of Liberty award and gave a speech in which he
03:38defended the neoliberal system.
03:40The head of state also announced that Argentina will adapt its legislation to meet the requirements
03:44of the new tariff system promoted by President Trump's administration.