8 Apr, 2025 20:51
Tariffs personally cost Trump $500m – Forbes
The US president’s wave of duties on imports has roiled stock markets
US President Donald Trump’s net worth has fallen by half a billion dollars in less than a week after he implemented a sweeping wave of tariffs, according to estimates by Forbes.
Last week, Trump announced a broad range of new tariffs on the imports from dozens of countries to the US, including a 34% levy on Chinese goods. Beijing has vowed to retaliate with a proportional 34% duty of its own, prompting Trump to escalate the blanket tariff on Chinese goods to a total of 104%. Fears about an escalating trade war have shaken global equity markets and wiped some $10 billion from stocks as of Monday, according to Bloomberg.
The net value of Trump’s own assets fell from an estimated $4.7 billion to $4.2 billion in less than a week “as the value of his public stock and private holdings fall in tandem with the broader market,” Forbes wrote on Tuesday.
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https://www.rt.com/news/615414-tariffs-personally-cost-trump-500mn/