US shows emerging market signs after tariff shock, says Euronext CEO

April 08, 2025 (MLN): 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 US tariffs.

"Fear exists all over," the head of the pan-European stock exchange operator told France Inter radio. "The country (US) 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 US President Donald Trump announced global tariffs on imports to the US, as per Reuters.

Trump has said the tariffs - a minimum of 10% for all US imports, with targeted rates of up to 50% - would help the US 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 US to be re-invested in Europe.

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