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US is starting to look like an emerging market after tariff shock, Euronext CEO says
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US is starting to look like an emerging market after tariff shock, Euronext CEO says
Apr 8, 2025 12:37 AM

PARIS, April 8 (Reuters) - The United States is starting

to resemble an emerging market more than a developed country,

Euronext's CEO Stephane Boujnah said on Tuesday as

financial markets remained volatile after the imposition of

sweeping U.S. tariffs.

"Fear exists all over," the head of the pan-European stock

exchange operator told France Inter radio. "The country (United

States) is unrecognisable and we are living in a transition

period. There is a certain form of mourning, because the United

States that we had known for the most part as a dominant nation

resembled the values and institutions of Europe and now

resembles more an emerging market."

Boujnah said global financial markets were rotating assets

and were trying to adapt to a United States that they do not

recognise after U.S. President Donald Trump announced global

tariffs on imports to the United States.

Trump has said the tariffs - a minimum of 10% for all

U.S. imports, with targeted rates of up to 50% - would help the

United States recapture an industrial base that he says has

withered over decades of trade liberalization.

Boujnah said there was some good news in that oil prices and

long-term rates were down, and that there were flows of money

leaving the United States to be re-invested in Europe.

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