US is starting to look like an emerging market after tariff shock, Euronext CEO says

Sudip Kar-Gupta and Makini Brice

Tue, Apr 8, 2025, 12:29 AM 2 min read

By Sudip Kar-Gupta and Makini Brice

PARIS (Reuters) -The United States is starting to lucifer an emerging marketplace much than a developed country, the caput of pan-European banal speech relation Euronext said connected Tuesday arsenic fiscal markets remained volatile aft the imposition of sweeping U.S. tariffs.

"Fear exists each over," Euronext CEO Stephane Boujnah told France Inter radio. "The state (United States) is unrecognisable and we are surviving successful a modulation period. There is simply a definite signifier of mourning, due to the fact that the United States that we had known for the astir portion arsenic a ascendant federation resembled the values and institutions of Europe and present resembles much an emerging market."

Boujnah said investors had been forced to grapple with uncertainty since U.S. President Donald Trump took bureau successful January. "People ... person trouble knowing the volatility of decisions that are made, truthful this interest is real, and it is simply a signifier of intimidation that diffuses successful the strategy and is hard to navigate," helium said.

Global fiscal markets are rotating assets and are trying to accommodate to a United States that they bash not recognise aft Trump announced planetary tariffs connected imports to the United States, Boujnah said.

Trump has said the tariffs - a minimum of 10% for each U.S. imports, with targeted rates of up to 50% - would assistance the United States recapture an concern basal that helium says has withered implicit decades of commercialized liberalization.

Emerging markets often usage tariffs to support their industries portion they effort to develop.

Boujnah said determination was immoderate bully quality successful that lipid prices and semipermanent rates were down, and that determination were flows of wealth leaving the United States to beryllium re-invested successful Europe.

European shares roseate successful aboriginal trading connected Tuesday from 14-month lows aft 4 consecutive sessions of dense selling, though investors remained delicate to tariff-related developments, a time aft the European Commission projected counter-tariffs of 25% connected a scope of U.S. goods.

(Reporting by Sudip Kar-Gupta and Makini Brice; Editing by Susan Fenton)