In April 2025, the global financial markets were rocked by a sharp and sudden downturn. The S&P 500 plunged nearly 5%—its worst single-day drop in years—while the Dow Jones tumbled over 1,600 points. The cause? A wave of new tariffs abruptly announced by Donald Trump’s administration, including a blanket 10% tax on all imports and steeper penalties on goods from key trading partners like China, Japan, and the European Union. Within hours, China retaliated with a 34% tariff on U.S. goods, igniting fears of a global trade war and deepening economic uncertainty.