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President Donald Trump’s global tariff war has rattled financial markets worldwide. Now, the consequences are impacting even his inner circle, according to Bild.
Peter Navarro on the way out
Trade advisor Peter Navarro is stepping down — a sign of major policy shifts in Trump’s approach.
Recently, Elon Musk called him "a blockhead dumber than a bag of bricks".
Commerce Secretary under pressure
Commerce Secretary Howard Lutnick is also facing possible dismissal. Politico describes him as the architect of Trump’s tariff policy.
Scott Bessent steps forward
Meanwhile, Treasury Secretary Scott Bessent is taking center stage. He is known for his balanced, technocratic approach.
Bond markets fall — Trump retreats
This week, the U.S. bond market plunged, prompting fears of a financial meltdown.
Trump had to delay tariffs on imports from 75 countries.
Experts say this proves the plan isn’t going as intended.
All eyes on China
The only ongoing high-stakes trade war is with China:
- Trump imposed 145% tariffs on Chinese goods,
- China responded with 125% tariffs on U.S. imports,
- Beijing warns this could trigger a global humanitarian crisis.
16:03, 11-04-2025
