Global financial markets suffered a dramatic crash as Trump's universal 10% tariff floor took effect. Asian markets opened with Hong Kong falling 13.12%, its largest drop since 1997. European bourses followed suit, with the CAC 40 plunging over 6%, its worst day in three years.
French Commerce Minister Laurent Saint-Martin warned that European retaliation could be "extremely aggressive," as Trump threatened China with additional 50% tariffs if Beijing maintained its retaliatory measures. The EU proposed elimination of industrial tariffs, which Trump deemed "not sufficient."
Meanwhile, French authorities announced the arrest of three young men for allegedly planning a terrorist bombing in northern France. One suspect was described as "highly radicalized."
In the evening, a major fire broke out at a waste sorting center in Paris's 17th arrondissement, with authorities reassuring that no toxicity had been detected.