NEW YORK, April 8. /TASS/. The net worth of US President Donald Trump has decreased by $500 million since his introduction of import tariffs on foreign goods, Forbes magazine writes.
On April 2, the day Trump rolled out his plan for sweeping tariffs, Forbes pegged his net worth at $4.7 billion. Less than a week later, it’s down to an estimated $4.2 billion, as the value of his public stock and private holdings fall in tandem with the broader market.
Trump’s biggest loss comes from his most valuable asset, the Trump Media and Technology Group, which declined 8% over the last three trading days, hitting its lowest price since October. His stake, worth $2.2 billion Wednesday, now sits at $2 billion. The roughly $170 million loss isn’t earning him any sympathy though, as he continues to take huge heat for his tariff policy.
On April 2, Trump announced the introduction of customs duties on products from 185 countries and territories. Russia is not on this list.
Universal tariffs of 10% came into force on April 5, individual tariffs will go into effect on April 9. Also, the US administration has imposed customs duties of 25% on all imported cars since April 3. Trump also declared a state of emergency in the country over the economic situation.