Rwanda Stock Exchange CEO speaks on global tariff impact on markets

Rwanda’s stocks have largely remained stable amidst the escalating global dynamics around trade tariffs. The recent announcement by the White House of a 90-day pause on tariffs, except for China, has sent shockwaves rippling through the global stock markets. The Rwanda Stock Exchange CEO, Celestin Rwabukumba, shared insights on the implications of these trade wars on African stock markets in a recent interview on CNBC Africa. The market volatility and uncertainty stemming from the tariffs have investors on edge as trillions of dollars were wiped out in a matter of days. With major indices like the S&P 500 and Dow Jones experiencing significant fluctuations, the impact of these tariffs is reverberating worldwide. Rwabukumba highlighted the intertwined nature of the global economy, pointing out how the trade tensions between the U.S. and China have far-reaching consequences for other countries. As retaliatory measures are being considered, there is a growing sense of urgency for nations to come to the negotiating table and find common ground for sustainable global trade. The interview shed light on the challenges faced by the American economy as it grapples with the ramifications of the ongoing trade wars. President Trump's 'America First' approach has sparked debate over the effectiveness of tariffs as a means to revive domestic industries. Rwabukumba cautioned against the gamble of escalating trade tensions, emphasizing the need for a collaborative effort to address the complex web of interconnected markets. The interview concluded with a call for mutual consideration and cooperation among nations to navigate the current economic landscape and ensure a resilient future for the global economy.