Tariff turmoil - trillions wiped off global stock markets

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• 00:01

  Cutting through an overload of information to get to the heart of the story, this is the point.

• 00:08

  Asian markets saw steep drops this morning as exchanges reopened for the first time since Trump's latest tariffs gambit.

• 00:15

  China swiftly hit back on Friday with strong and sprawling countermeasures,

• 00:20

  including additional tariffs of 34 percent on all U.S. imports,

• 00:26

  starting on April 10, taking to his truth social platform.

• 00:30

  Trump blasted China's move as panicked, but is it the White House that is panicking now?

• 00:37

  How are Trump's tariffs impacting average Americans?

• 00:40

  Will these tariffs make America great again in the long run?

• 00:44

  Welcome to the point, with me, Liu Xin, coming to you from Beijing.

• 00:47

  I'm pleased to be joined here in the studio by Aina Tangan, senior fellow with the Think Tank Taihe Institute,

• 00:53

  and Professor Liu Baocheng,

• 00:55

  dean at the Center for International Business Ethics at the University of International Business and Economics here in Beijing.

• 01:02

  And we also join online from Washington, D.C. by Surab Gupta,

• 01:06

  senior Asia-Pacific International Relations Policy Specialist at the Institute for China-America Studies.

• 01:12

  Gentlemen, welcome to the point.

• 01:14

  Let's take a look at the performance of Asian stock markets, a bloodbath,

• 01:19

  if I may use the word, within first hour of trading after markets.

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  It's reopened Shanghai Composite down by 6.6 percent, Henshin down by nearly 10 percent,

• 01:28

  Australia about 4.5 percent, Nikkei 6 percent, Singapore down 7 percent, so on so forth.

• 01:34

  Aina, has Trump's tariffs policy triggered a global crisis?

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