Asian markets in 'bloodbath' after trade tariffs (10th April 2025) The value of stock markets in Asia has fallen by their biggest amount in decades. The market in Shanghai was down by nearly 8%, Hong Kong's Hang Seng dropped by 13.22%, Japan's Nikkei index fell 7.8%, and Taiwan's market closed more than 9.7% down. Markets in Australia also sank. An analyst told the BBC that the markets were a "bloodbath". Stock prices are reacting negatively to the trade tariffs announced by US President Donald Trump on April the 2nd. He called this day "Liberation Day". He said it "will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to make America wealthy again". Many countries are thinking about what to do about the tariffs. China's People's Daily newspaper said China could fight back. It wrote: "After eight years of trade wars with the US, we've built up a wealth of experience in this struggle." It added that China was strong enough to face "US tariff bullying". The country could increase its own tariffs on imports from the USA. Japan's Prime Minister Shigeru Ishiba said he would ask the US to reduce the 24% tariffs on Japanese goods. He will visit the US "as soon as possible". He will explain to President Trump that Japan "is not doing anything unfair". Talking about the tariffs, Trump said: "Sometimes you have to take medicine to fix something." Vocabulary Matching Paragraph 1 1. value a. Ten years. 2. decade b. A person who looks at information and numbers carefully. 3. sank c. How much something is worth (like money). 4. analyst d. To become free. 5. bloodbath e. A very, very, very bad situation for something. 6. liberation f. Having a lot of money or other thing. 7. wealthy g. Went down and down and down from a higher to a lower place . Paragraph 2 8. tariff h. Something you take to get better when you are sick. 9. trade wars i. To try very hard to do something difficult. 10. wealth j. When someone hurts or scares someone else again and again. 11. struggle k. A tax on goods and other things coming into a country. 12. bullying l. When countries fight about buying and selling things. 13. reduce m. To make something smaller. 14. medicine n. A lot of money and things. 2. TRUE / FALSE: Read the headline. Guess if “1-8” below are true (T) or false (F). The fall in stock values is the biggest for over a century. T / F Japan's market fell by a bigger amount than Shanghai's. T / F The article said stock markets in Australia also went down. T / F President Trump said America's industry would now start to grow again. T / F A Chinese newspaper said China would not fight back against the US. T / F The newspaper said China has had an 8-year trade war with the USA. T / F President Trump called April the 2nd Liberal Nation Day. T / F President Trump said Japan was doing many unfair things to the USA. T / F 3. SYNONYM MATCH: (The words in bold are from the news article.) fallen nearly li ... ...
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