US equity markets faced fresh selling pressure on Thursday as investors digested reports that the Trump administration is preparing to announce a significant expansion of tariffs targeting dozens of countries.
The development marks a sharp escalation in trade policy, with Washington imposing new duties on more than 60 nations.
Argentina, for instance, will remain subject to the 10% rate established under the original 2025 regulation, leaving President Javier Milei’s administration in a complex position amid the US-China crossfire.
The broadening of the tariff net has reignited concerns about global trade fragmentation and its impact on corporate margins.
While the immediate focus is on the sheer scale of the expansion, the specific rates applied vary by jurisdiction.
Argentina, for instance, will remain subject to the 10% rate established under the original 2025 regulation, leaving President Javier Milei’s administration in a complex position amid the US-China crossfire.
This move comes despite recent diplomatic signals suggesting a potential thaw in US-China relations.