AI Summary:
Trump administration has downplayed that and potential further catastrophic economic fallout. Investors nervously awaited the open of US trading after Wall Street’s selloff last week. Asian markets will open in the coming hours and expect a rocky day. Treasury Secretary Scott Bessent revealed that more than 50 nations had begun negotiations with the US since the tariffs were announced on Wednesday. Trump’s wide-ranging tariffs came into effect on Saturday. The initial 10 percent “baseline” tariff took effect at US seaports, airports and customs warehouses. Despite this, economists have warned that the tariffs could lead to a decline in US gross domestic product.

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