Donald Trump.
This week, on April 2nd, 2025, the world witnessed a dramatic shift in international relations and economic policy. In a bold and controversial move, U.S. President Donald Trump launched a global trade war. Announcing sweeping tariffs on all products from nearly all countries—excluding Russia, Belarus, and North Korea—Trump declared the day “Liberation Day,” framing the action as a reclaiming of American economic sovereignty.
The move effectively signals the end of an era: the long-standing push toward globalisation that shaped the 21st century economy. For decades, countries leaned into interdependence, open trade, and integrated supply chains. That model was upended with the stroke of a pen.
China was quick to respond with heavy countermeasures, imposing high tariffs on all American imports and halting the export of rare-earth minerals—an area where the U.S. is particularly vulnerable. These minerals are vital to a wide array of high-tech industries, from electric vehicles to defense systems.
Unsurprisingly, stock markets around the world reacted sharply. Major indices plummeted amid fears of a prolonged economic conflict, supply shortages, and a potential global recession.
As the dust begins to settle, one question echoes from boardrooms to kitchen tables across the globe: What does this mean for the future? Only time will tell, but April 2nd, 2025 will be remembered as a turning point—a day when the world’s economic order took a sharp and completely uncertain turn.