President Trump’s abrupt release of a “tariff letter” has triggered significant volatility in global financial markets. The announcement of new import tariffs—set to take effect from August 1 on 14 countries, including Bangladesh—has led to sharp declines in indices like the Dow Jones, Nasdaq, and S&P 500. Shares of companies such as Toyota, Nissan, Honda, LG, and SK Telecom fell by several percentage points. The tariff policy has also affected U.S. bond markets and led to a strengthening dollar, weakening other major currencies. Trump warned that BRICS-aligned nations may face an additional 10% tariff. Economists have cautioned that the policy could destabilize not just trade but the global economic equilibrium.