Small and medium-sized businesses (SMEs) across the globe are feeling the heat as U.S. President Donald Trump doubles down on global tariffs — refusing to back down even as stock markets worldwide tumble in panic.
Speaking from the Oval Office, Trump made it clear: there will be no pause in the trade war. "We're not looking at that," he said when asked if he'd consider easing tariffs. "Countries want to negotiate, and they'll be paying substantial tariffs."
This firm stance sent shockwaves through financial markets. On Wall Street, it was a rollercoaster.
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The Dow Jones started the day crashing by 1,700 points, then bounced back almost 900 points, before dipping again all triggered by a false rumor that Trump might pause tariffs for 90 days. The White House quickly shut that rumor down, calling it "fake news."
SMEs, often more vulnerable than big corporations, are watching anxiously. Tariffs raise the cost of doing business, especially for companies that rely on imported goods, tools, or raw materials. For small-scale exporters, the uncertainty alone is enough to cause sleepless nights.
Europe also took a beating. Spain's stock market dropped by over 5%, Germany's DAX lost more than 2,000 points in the morning, and Poland's main index plunged 6% at the opening bell. Though markets began to stabilize later in the day, the message was clear: the global economy is on edge.
The fear of a full-blown global recession is now louder than ever — and SMEs are at the frontlines. While major players may have buffers, small businesses are left counting the costs, rethinking supplies, and hoping for clarity. As one analyst put it: "In today's world, even a tweet can shake the entire economy. And for SMEs, every ripple feels like a wave.
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