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Amid Trump's tariff war, the fall in crude oil prices is not stopping. Brent crude fell 4 percent on Monday to below $64 per barrel. This is the lowest level since April 2021. There is tremendous turmoil in the global market after Trump's reciprocal tariff. Meanwhile, Trump has claimed that oil prices have come down. There is no inflation. At the same time, Trump has justified the tariff. It is worth noting that experts have warned of a high risk of recession.
What did Trump say about inflation?
"Oil prices are down, interest rates are down (slow-moving Fed must cut rates!), food prices are down, there is no inflation, and the long abused US is making billions of dollars a week from countries abusing tariffs already in place," Trump posted on his social media platform Truth Social.
Trump targeted China
He has called China the "biggest abuser" in terms of tariffs. Trump further wrote, "China's markets are constantly falling. Despite this, it has increased its tariffs by 34 percent, which is ridiculous. China has taken advantage of America for decades. Targeting the Democratic Party, he said that the old leaders should be blamed for this. Let us tell you that he has targeted former US President Joe Biden without naming him. Trump finally said that we should make America great again.
The effect of American tariffs on the Indian market
Talking about the Indian stock market, there was a stir in the stock market today on Monday, 7 April. In the pre-open itself, the BSE Sensex of the stock market had fallen by 4000 points. At the same time, the NSE Nifty fell by 11,00 points. Today the Bombay Stock Exchange Sensex closed at 73,137, falling 2226 points. The National Stock Exchange's Nifty fell 742 points to close at 22,161. The impact of US tariffs is being seen in the Indian stock market. Apart from US tariffs, there can be many other reasons for the sell-off in the stock market.
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