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Trump Stands Firm on Tariffs as Global Stock Markets Decline

04/07/2025
Businesspeople shaking hands, symbolizing a trade agreement or negotiation impacted by increased tariffs. - Supply Chain News

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Compos Mentis Legal Practitioners, a leading Nigerian law firm with offices in Warri, Lagos, and Abuja, continues to set new standards in legal service delivery through innovation, strategic thinking, and a commitment to global best practices. Established in 2007, the firm has grown into a trusted name in dispute resolution, debt recovery, intellectual property, medical law, and corporate advisory. The firm holds the distinction of being the first Nigerian law firm certified to the ISO 9001:2015 standard, reflecting its dedication to quality management, transparency, and client satisfaction. This milestone reinforces Compos Mentis LP’s role as a trailblazer in legal professionalism, setting a benchmark for excellence across Nigeria and beyond. At the heart of the firm’s innovation strategy is Consultus Lawyer, a proprietary digital platform that allows clients—both local and international—to access legal services remotely. Through this platform, the firm provides affordable, high-quality support in a wide range of legal matters, including cross-border disputes and advisory services. Flexible pricing models ensure accessibility for diverse clients, including government agencies, public institutions, community trust boards, individuals, and small enterpr In 2024–2025, the firm recorded an 87.5% success rate across 24 litigation cases, a testament to its rigorous preparation and expert legal strategy. The firm's consistent results and sectoral expertise have been recognized through numerous accolades, including the Dispute Resolution Law Experts of the Year in Nigeria – 2025 by Global Law Experts and the Regional Law Firm of the Year at the 2024 ESQ Legal Awards. Compos Mentis LP has also earned multiple Mondaq Awards in 2024 and 2025 for its contributions to legal thought leadership, particularly in intellectual property and immigration law. These recognitions underscore the firm’s ability to blend deep legal insight with a forward-thinking approach to knowledge sharing. Beyond its commercial achievements, Compos Mentis LP is deeply committed to social responsibility. The firm provides pro bono legal services to indigent individuals and supports host communities in the Niger Delta with legal representation and governance advisory. It also invests in talent development, fostering the next generation of legal professionals through mentorship and continuous learning opportunities. As Compos Mentis LP expands its reach and digital capabilities, it remains grounded in its core values: excellence, access to justice, and service to the community. With a proven track record, global outlook, and commitment to legal empowerment, the firm is positioned as a leader in Nigeria’s evolving legal landscape. To learn more, visit: https://compos-mentis.com #ComposMentis #LegalInnovation #DisputeResolution #AccessToJustice #ConsultusLawyer #ISO9001Certified #RuleOfLaw #NigeriaLegal #LawFirmOfTheYear #GlobalLegalStandards

Compos Mentis Legal Practitioners Nominated for Go Global Awards 2025

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Trump Stands Firm on Tariffs as Global Stock Markets Decline

by Mich M.
04/07/2025
in Tariffs & Duties

US President Donald Trump has remained resolute in his stance on the tariffs, dismissing concerns over the market turmoil they have caused. While global stocks continue to experience significant losses, Trump likened the tariffs to “medicine,” arguing that the measures were necessary to address long-standing trade imbalances.

Trump emphasized his position on the so-called “reciprocal tariffs,” stating that he would not back down unless other countries adjusted their trade policies to balance trade with the United States. He asserted that the US had been mistreated by other nations in past trade agreements, leading to the loss of American businesses, jobs, and money.

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The global stock market has been in a sharp decline, with Taiwan’s TAIEX and Hong Kong’s Hang Seng both dropping about 10 percent. Other major Asian markets such as Japan’s Nikkei 225, Singapore’s Straits Times Index, South Korea’s KOSPI, and Australia’s ASX 200 also saw significant losses. US stock futures indicate further losses when Wall Street reopens, continuing a two-day downturn that wiped out over $6 trillion in market value.

On the tariff front, the US began imposing a 10 percent baseline tariff on imports, with additional higher duties of 11 to 50 percent scheduled to take effect on Wednesday. These tariffs are set to target both US rivals and allies, including China, which faces a 34 percent tariff, while the European Union, Japan, and South Korea face tariffs between 20 and 25 percent.

In response to the US tariffs, China announced retaliatory measures, including a 34 percent tariff on all US imports and restrictions on some critical minerals. The European Union is preparing its own list of US imports to target with higher duties. Despite these measures, Trump has expressed willingness to negotiate with China, but emphasized that any agreement would depend on China eliminating its trade surplus with the US.

Other US trading partners, including the United Kingdom, Australia, Indonesia, and Taiwan, have not yet enacted retaliatory measures. Israeli Prime Minister Benjamin Netanyahu is set to discuss the tariff issue with Trump during his upcoming visit to the White House.

The escalating trade tensions have led analysts to raise concerns about the potential for a US recession within the next year. JPMorgan has increased the likelihood of a US recession to 60 percent, while S&P Global estimates the probability at 30 to 35 percent. Some economists argue that the disruptive impact of the US’s trade policies could lead to a global economic downturn.

Despite the market upheaval, Trump administration officials have downplayed the risk of a recession, arguing that the long-term economic benefits of these trade measures will outweigh the short-term challenges.

Your go-to source for supply chain logistics news updates: The Supply Chain Report. Enhance your international trade knowledge at ADAMftd.com.

#TrumpTariffs #GlobalStockMarket #TradeWar #TariffsAndDuties #MarketDecline #USChinaTrade #EconomicDownturn #TradeTensions #RecessionConcerns #USTradePolicies

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The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

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