As global financial markets tumble following Donald Trump’s introduction of sweeping import tariffs, Poland’s Prime Minister Donald Tusk has said that the country will “calmly endure” despite being hit by a “ricochet.”
Writing on X, Tusk called for calm and said that Poland’s stability would act in its favor as markets around the world continued to plummet.
“The reaction to the tariff war was predictable,” said Tusk. “The stock market earthquake from Japan through Europe to America must be survived without nervous decisions.”
He added: “The Polish stock exchange also took a hit, but political and economic stability are our assets in this difficult time. We will calmly endure!”
On Monday, the Warsaw Stock Exchange opened with a massive sell-off of shares as investors rushed to withdraw capital from both blue-chip firms and smaller concerns.
State-owned giants such as PGE, KGHM and Orlen also reported falls. In total, around 85% of firms listed on the WSE were in the red.
Jacek Rzeźniczek from the finance website Stooq.pl called it “a bloody morning” for Europe’s markets, adding: “We are observing a collapse not seen in years.”
In Germany, the DAX fell 10% before later rallying, while stock exchanges in London and Paris plunged to around the 6% mark.
Defense companies, which have performed particularly well in recent times, also reported losses, with Germany’s Rheinmetall losing nearly a quarter of its value at one stage.
European ministers are due to meet in Luxembourg on Monday to discuss a coordinated response to Trump’s tariffs.
Speaking to reporters on Sunday, the U.S. president remained unfazed about how his tariffs had impacted the global market. “I don’t want anything to go down,” he said, “but sometimes you have to take medicine to fix something.”
Trump added that he had already spoken to several global leaders seeking to negotiate lower tariffs. “They want to talk but there’s no talk unless they pay us a lot of money on a yearly basis,” he warned.
“The reaction to the tariff war was predictable,” said Tusk. “The stock market earthquake from Japan through Europe to America must be survived without nervous decisions.”
He added: “The Polish stock exchange also took a hit, but political and economic stability are our assets in this difficult time. We will calmly endure!”
On Monday, the Warsaw Stock Exchange opened with a massive sell-off of shares as investors rushed to withdraw capital from both blue-chip firms and smaller concerns.
In the first minutes of trading, the WSE’s WIG20 index fell by over 7%, with banks taking the heaviest hits.Reakcja na wojnę celną była do przewidzenia. Giełdowe trzęsienie ziemi od Japonii przez Europę do Ameryki trzeba przeżyć bez nerwowych decyzji. Polska giełda też dostała rykoszetem, ale stabilność polityczna i gospodarcza to nasze atuty w tym trudnym czasie. Spokojnie wytrwamy!
— Donald Tusk (@donaldtusk) April 7, 2025
State-owned giants such as PGE, KGHM and Orlen also reported falls. In total, around 85% of firms listed on the WSE were in the red.
Jacek Rzeźniczek from the finance website Stooq.pl called it “a bloody morning” for Europe’s markets, adding: “We are observing a collapse not seen in years.”
In Germany, the DAX fell 10% before later rallying, while stock exchanges in London and Paris plunged to around the 6% mark.
Defense companies, which have performed particularly well in recent times, also reported losses, with Germany’s Rheinmetall losing nearly a quarter of its value at one stage.
European ministers are due to meet in Luxembourg on Monday to discuss a coordinated response to Trump’s tariffs.
Speaking to reporters on Sunday, the U.S. president remained unfazed about how his tariffs had impacted the global market. “I don’t want anything to go down,” he said, “but sometimes you have to take medicine to fix something.”
Trump added that he had already spoken to several global leaders seeking to negotiate lower tariffs. “They want to talk but there’s no talk unless they pay us a lot of money on a yearly basis,” he warned.
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