value of stock markets in Asia has fallen by their biggest amount in decades. market in Shanghai was down by nearly 8%, Hong Kong's Hang Seng dropped by 13.22%, Japan's Nikkei index fell 7.8%, and Taiwan's market closed more than 9.7% down. Markets in Australia also sank. analyst told BBC that the markets were "bloodbath". Stock prices are reacting negatively to trade tariffs announced by US President Donald Trump on April 2nd. He called this day "Liberation Day". He said it "will forever be remembered as day American industry was reborn, day America's destiny was reclaimed and day that we began to make America wealthy again".
Many countries are thinking about what to do about tariffs. China's People's Daily newspaper said China could fight back. It wrote: "After eight years of trade wars with US, we've built up wealth of experience in this struggle." It added that China was strong enough to face "US tariff bullying". country could increase its own tariffs on imports from USA. Japan's Prime Minister Shigeru Ishiba said he would ask US to reduce 24% tariffs on Japanese goods. He will visit the US "as soon as possible". He will explain to President Trump that Japan "is not doing anything unfair". Talking about tariffs, Trump said: "Sometimes you have to take medicine to fix something."
