<p>US President Donald Trump on Wednesday (July 23) underscoring his trade-first agenda, said that Japan and Indonesia have, for the first time ever, agreed to fully open their markets to American goods—including automobiles, agriculture, and even the long-protected rice sector. The US President attributed the breakthrough to his aggressive tariff strategy, insisting that without the leverage of tariffs, such access would have been “impossible.”</p><p>&nbsp;</p><p>Posting on Truth Social platform, Trump wrote, “Remember, Japan is, for the first time ever, OPENING ITS MAKET TO THE USA, even to cars, SUV’s, Trucks, -and everything else, even agriculture and RICE, which was always a complete NO, NO. The Open Market Japan may be as big a profit factor as the Tariffs themselves, but was only gotten because of the Tariff Power. They also agreed to buy BILLIONS OF DOLLARS WORTH OF MILITARY AND OTHER EQUIPMENT, and give us 90% of 550 BILLION DOLLARS - AND MORE!!! MAGA!!!. Indonesia has also agreed, for the first time ever, to COMPLETELY OPEN ITS MARKET TO THE USA. That’s BIG!!! Our businesses will make a fortune. Likewise Japan!"</p>

<p>“I will always give up Tariff points if I can get major countries to OPEN THEIR MARKETS TO THE USA. Another great power of Tariffs. Without them, it would be impossible to get countries to OPEN UP!!! ALWAYS, ZERO TARIFFS TO AMERICA!!!. I WILL ONLY LOWER TARIFFS IF A COUNTRY AGREES TO OPEN ITS MARKET. IF NOT, MUCH HIGHER TARIFFS! Japan’s Markets are now OPEN (for first time ever!). USA BUSINESSES WILL BOOM!,” he further wrote.</p>

<p>On Tuesday (July 22), Trump wrote, “We just completed a massive Deal with Japan, perhaps the largest Deal ever made. Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90% of the Profits. This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it. Perhaps most importantly, Japan will open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things. Japan will pay Reciprocal Tariffs to the United States of 15%. This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan. Thank you for your attention to this matter!”</p>

USA BUSINESSES WILL BOOM Trump tariffs push Japan Indonesia to open markets for US goods

US President Donald Trump on Wednesday (July 23) underscoring his trade-first agenda, said that Japan and Indonesia have, for the first time ever, agreed to fully open their markets to American goods—including automobiles, agriculture, and even the long-protected rice sector. The US President attributed the breakthrough to his aggressive tariff strategy, insisting that without the leverage of tariffs, such access would have been “impossible.” Posting on Truth Social platform, Trump wrote, “Remember, Japan is, for the first time ever, OPENING ITS MAKET TO THE USA, even to cars, SUV’s, Trucks, -and everything else, even agriculture and RICE, which was always a complete NO, NO. The Open Market Japan may be as big a profit factor as the Tariffs themselves, but was only gotten because of the Tariff Power. They also agreed to buy BILLIONS OF DOLLARS WORTH OF MILITARY AND OTHER EQUIPMENT, and give us 90% of 550 BILLION DOLLARS - AND MORE!!! MAGA!!!. Indonesia has also agreed, for the first time ever, to COMPLETELY OPEN ITS MARKET TO THE USA. That’s BIG!!! Our businesses will make a fortune. Likewise Japan!"

<p>Trump, writing on his Truth Social platform said that he will always give up tariff points if he can get major countries to open their markets to USA</p>

'USA BUSINESSES WILL BOOM': Trump tariffs push Japan, Indonesia to open markets for US goods

<p>As India and the US will soon be finalising the trade deal, one of the biggest barriers they are facing is related to agriculture and dairy. Reportedly, India has been hesitating to allow American dairy products into the country since it includes "non-veg milk", citing cultural concerns. This comes just ahead of US President Donald Trump's August 1 deadline to reach a deal with America or face higher tariffs.</p><p>&nbsp;</p><p>The two sides are facing difficulty in finding a common ground to agree on the deal terms ahead of the deadline.</p><h2>What is non-veg milk?</h2><p>India has been stressing one key issue, which is the import of dairy products from the US, including "non-veg milk". Cows in the US are fed animal-based products like meat or blood. The milk produced from these cows is referred to as "non-veg milk". &nbsp;</p><p>&nbsp;</p><p>Hence, India is pushing the US for a strict verification to ensure that the imported milk from cows that have not been fed animal-based products. India has made it a "non-negotiable red line".</p><p>&nbsp;</p><p>According to a 2023 World Atlas report, approximately 38 percent of India's population is vegetarian. Hindus in India use milk and ghee in religious rituals on an everyday basis.</p><p>&nbsp;</p><p>As the concerns were raised, Ajay Srivastava of Global Trade Research Institute (GTRI) told news agency PTI, "Imagine eating butter made from the milk of a cow that was fed meat and blood from another cow. India may never allow that."</p><p>&nbsp;</p><p>India's Department of Animal Husbandry and Dairying mandates veterinary certification for food imports. It means that the source animals have not been fed meat or blood.</p><p>&nbsp;</p><p>"The source animals have never been fed with feeds produced from meat or bone meal, including internal organs, blood meal, and tissues of ruminant origin and porcine origin materials, except milk and milk products," the certificate reads.</p><h2>How will it impact Indian dairy farmers?</h2><p>The Indian farmers could face annual losses up to Rs 1.03 lakh crore if India imports daily products from the US, according to a report by the State Bank of India (SBI).</p><p>&nbsp;</p><p>“If the dairy sector is opened up, the price of milk in India is likely to drop by at least 15 per cent, which could cause a potential annual loss of Rs 1.03 lakh crore to dairy farmers,” the report stated.</p><p>&nbsp;</p><p>Despite pressure from US President Trump, India remains hesitant to open its dairy and agricultural markets to the US.</p>

Ahead of Trump's trade deadline, India and the US have been moving further with the deal, making progress. However, one key concern has become a barrier in their trade deal, "non-veg milk". India has been hesitating to allow American dairy products into the country citing cultural concerns.

As India and the US will soon be finalising the trade deal, one of the biggest barriers they are facing is related to agriculture and dairy. Reportedly, India has been hesitating to allow American dairy products into the country since it includes "non-veg milk", citing cultural concerns. This comes just ahead of US President Donald Trump's August 1 deadline to reach a deal with America or face higher tariffs. The two sides are facing difficulty in finding a common ground to agree on the deal terms ahead of the deadline. What is non-veg milk? India has been stressing one key issue, which is the import of dairy products from the US, including "non-veg milk". Cows in the US are fed animal-based products like meat or blood. The milk produced from these cows is referred to as "non-veg milk". Hence, India is pushing the US for a strict verification to ensure that the imported milk from cows that have not been fed animal-based products. India has made it a "non-negotiable red line". According to a 2023 World Atlas report, approximately 38 percent of India's population is vegetarian. Hindus in India use milk and ghee in religious rituals on an everyday basis. As the concerns were raised, Ajay Srivastava of Global Trade Research Institute (GTRI) told news agency PTI, "Imagine eating butter made from the milk of a cow that was fed meat and blood from another cow. India may never allow that." India's Department of Animal Husbandry and Dairying mandates veterinary certification for food imports. It means that the source animals have not been fed meat or blood. "The source animals have never been fed with feeds produced from meat or bone meal, including internal organs, blood meal, and tissues of ruminant origin and porcine origin materials, except milk and milk products," the certificate reads. How will it impact Indian dairy farmers? The Indian farmers could face annual losses up to Rs 1.03 lakh crore if India imports daily products from the US, according to a report by the State Bank of India (SBI). “If the dairy sector is opened up, the price of milk in India is likely to drop by at least 15 per cent, which could cause a potential annual loss of Rs 1.03 lakh crore to dairy farmers,” the report stated. Despite pressure from US President Trump, India remains hesitant to open its dairy and agricultural markets to the US.

<p>Ahead of Trump's trade deadline, India and the US have been moving further with the deal, making progress. However, one key concern has become a barrier in their trade deal, "non-veg milk". India has been hesitating to allow American dairy products into the country citing cultural concerns.</p>

What is non-veg milk? Here's why it has become a 'non-negotiable red line' for India-US trade deal

<p>US President Donald Trump, in an interview, has claimed that India was ready to "cut a 100% of their tariffs for the United States".</p>
<p>Speaking to Fox News, the American leader also reiterated how India was "one of the highest tariff nations in the world," and said that the nation makes it "impossible to do business".</p>
<p><strong>Also read | <a href="https://www.wionews.com/world/he-knew-exactly-what-that-meant-trump-claims-comey-called-for-his-assassination-with-8647-message-pam-bondi-9077234">'He knew exactly what that meant': Trump claims Comey called for his 'assassination' with '8647' message</a></strong></p>
<h2><strong>What did Trump say exactly?</strong></h2>
<p>Trump, during the interview with Fox News's Bret Baier, was talking about Iran and the prospective nuclear agreement; Trump brought up India.</p>
<p>"India is one of the highest tax...tariff nations in the world. They make it almost impossible to do business. Do you know that they're willing to cut a 100 per cent of their tariffs for the United States?" he said.</p>
<p><strong>Also read | <a href="https://www.wionews.com/trending/fragile-man-netizens-troll-78-year-old-trump-for-saying-35-year-old-taylor-swift-no-longer-hot-9077413">'Fragile man': Netizens troll 78-year-old Trump for saying 35-year-old Taylor Swift 'no longer HOT'</a></strong></p>
<p>You can watch what he said here &ndash; Trump's statement on India starts around the 10-minute mark:</p>
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-martgg97-43reawue-pfspm8hz">
<p dir="ltr" lang="en">President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> opens up about investments in America, trade negotiations, his trip to the Middle East and plans to transform Gaza in an exclusive interview with <a href="https://twitter.com/BretBaier?ref_src=twsrc%5Etfw">@BretBaier</a> on 'Special Report.' <a href="https://t.co/PnfDiEzjMn">pic.twitter.com/PnfDiEzjMn</a></p>
&mdash; Fox News (@FoxNews) <a href="https://twitter.com/FoxNews/status/1923539200529371222?ref_src=twsrc%5Etfw">May 17, 2025</a></blockquote>
<h2><strong>So, is an India-US tariff deal imminent?</strong></h2>
<p>When asked, "Is that deal (zero tariff) coming soon?" Trump did not specify a time frame but said, "Yeah, that will come soon."</p>
<p>Acting coy, he then said, "I'm in no rush," but emphasised that "everyone wants to make a deal with us".</p>
<p>"150 countries want to make deals with us," he claimed.</p>
<p><strong>Also read | <a href="https://www.wionews.com/world/donald-trumps-tone-deaf-disrespectful-behaviour-at-popes-funeral-ignites-online-hate-moron-embarrassed-us-on-world-stage-9006273">'Tone-deaf' Trump's disrespectful behaviour at Pope's funeral ignites online hate: 'Moron embarrassed us on world stage'</a></strong></p>

World | India News | South Asia | Discover US President Trump's claim that India is willing to eliminate 100% of tariffs for the United States. Is it true? Watch the video here.

US President Donald Trump, in an interview, has claimed that India was ready to "cut a 100% of their tariffs for the United States". Speaking to Fox News, the American leader also reiterated how India was "one of the highest tariff nations in the world," and said that the nation makes it "impossible to do business". Also read | 'He knew exactly what that meant': Trump claims Comey called for his 'assassination' with '8647' message What did Trump say exactly? Trump, during the interview with Fox News's Bret Baier, was talking about Iran and the prospective nuclear agreement; Trump brought up India. "India is one of the highest tax...tariff nations in the world. They make it almost impossible to do business. Do you know that they're willing to cut a 100 per cent of their tariffs for the United States?" he said. Also read | 'Fragile man': Netizens troll 78-year-old Trump for saying 35-year-old Taylor Swift 'no longer HOT' You can watch what he said here – Trump's statement on India starts around the 10-minute mark: President @realDonaldTrump opens up about investments in America, trade negotiations, his trip to the Middle East and plans to transform Gaza in an exclusive interview with @BretBaier on 'Special Report.' pic.twitter.com/PnfDiEzjMn — Fox News (@FoxNews) May 17, 2025 So, is an India-US tariff deal imminent? When asked, "Is that deal (zero tariff) coming soon?" Trump did not specify a time frame but said, "Yeah, that will come soon." Acting coy, he then said, "I'm in no rush," but emphasised that "everyone wants to make a deal with us". "150 countries want to make deals with us," he claimed. Also read | 'Tone-deaf' Trump's disrespectful behaviour at Pope's funeral ignites online hate: 'Moron embarrassed us on world stage'

Trump claims India ready to 'cut a 100% of their tariffs for the United States' | Watch

Thailand and Vietnam have officially elevated their bilateral relationship to a comprehensive strategic partnership, the highest level of diplomatic engagement. The prime ministers announced the agreement during a meeting in Hanoi.

Thailand, Vietnam Upgrade Ties To Highest Diplomatic Tier

#Gravitas A social media post by a former FBI director has triggered a high-level U.S. federal investigation.  The U.S. Secret Service and the Department of Homeland Security have launched parallel probes into an alleged threat directed at U.S. President Donald Trump.

Ex-FBI Chief Accused Of Plotting Trump's Assassination

<div>As the United States and China intensify their economic rivalry, Europe finds itself increasingly caught in the middle&mdash;vulnerable to becoming a dumping ground for Chinese goods shut out of the American market. Despite the European Union&rsquo;s (EU) efforts to balance relations with both superpowers, China&rsquo;s rapidly growing trade surplus with the EU is triggering alarm across the continent and exposing cracks in Europe&rsquo;s open-market model.</div>
<div>As the United States and China escalate their economic rivalry and with no long-term certain solution in sight, Europe finds itself caught in the crossfire, increasingly vulnerable to becoming a fallback market for Chinese goods squeezed out of the US economy. Despite the European Union&rsquo;s (EU) efforts to maintain balanced relations with both economic giants, China&rsquo;s growing trade surplus with the EU is raising alarm across the continent.</div>
<div>In the first four months of 2025 alone, China&rsquo;s trade surplus with the EU surged to a record $90 billion, underlining the shift in global trade patterns as the US imposed reciprocal tariffs on dozens of countries. With American levies on Chinese goods still up to 30 percentage points higher than they were at the start of this year, much of China&rsquo;s excess production is being increasingly redirected toward Europe&mdash;some through Southeast Asia and Latin America.</div>
<div>According to a report by Bloomberg, Maxime Darmet, senior economist at Allianz Trade, said, &ldquo;European and non-US markets are going to see an increase in Chinese shipments.&rdquo;</div>
<div>&ldquo;China will want to keep global market share at a high level, so will try to increase share in other markets,&rdquo; Darmet added.</div>
<h2><span>The new trade battlefield</span></h2>
<div>The shifting trade tides are testing the EU&rsquo;s core principles of economic openness. As Washington embraced a more protectionist stance, Brussels had to recalibrate its trade strategy. The EU has responded with targeted measures&mdash;such as tariffs on Chinese electric vehicles (EVs)&mdash;but has so far resisted a full-scale trade war.</div>
<div>At the heart of the trade imbalance lies China&rsquo;s aggressive industrial policy. State subsidies, particularly in the electric vehicle sector, have helped Chinese companies like BYD undercut competitors around the world. In 2024, BYD sold 4.27 million new vehicles globally, a 41 per cent jump from the previous year. Of those, 1.76 million were fully electric, putting BYD just behind Tesla in global EV sales. China&rsquo;s plug-in hybrid sales also soared 72.83 per cent to 2.49 million units.</div>
<div>The European Commission&rsquo;s move to impose duties on these heavily subsidised imports in late 2024 sparked outrage in Beijing. In retaliation, China launched an anti-dumping investigation into European dairy products, including cheese and milk&mdash;an echo of past tit-for-tat trade tensions and a sign that hostilities are broadening beyond vehicles and technology.</div>
<div>Despite these disputes, China remains the EU&rsquo;s largest trading partner, and the EU is China's second-largest. More than half of EU imports from China consist of mechanical appliances and electrical equipment, while vehicles and aircraft account for less than 6 per cent. On the export side, mechanical appliances and electrical equipment also lead, followed by vehicles and pharmaceuticals.</div>
<h2><span>Germany and France at the forefront of the storm</span></h2>
<div>Germany has been particularly impacted by the changing trade dynamics. The bilateral trade relationship with China, once marked by a German surplus, has flipped dramatically. In 2020, China had a trade deficit of over $18 billion with Germany. By 2024, that had reversed to a $12 billion surplus, and if current trends hold, China&rsquo;s surplus with Germany could exceed $25 billion in 2025.</div>
<div>One major factor has been the rapid rise in Chinese car exports, including both EVs and conventional models, while German exports to China, especially cars, have declined. Despite EU tariffs curbing EV imports, Chinese automakers have ramped up deliveries of hybrids and combustion-engine vehicles, maintaining their momentum in the European market.</div>
<div>France, too, is in the spotlight as it prepares for high-level talks with Chinese Vice Premier He Lifeng. The meeting comes after a temporary 90-day truce between Washington and Beijing, which lowered some tariffs but left many trade barriers firmly in place. European markets welcomed the pause, but economists remain wary, warning that the underlying tensions are far from resolved.</div>
<div>Meanwhile, the EU&rsquo;s trade chief Maros Sefcovic acknowledged the growing concerns last week, stating that the bloc is &ldquo;monitoring possible risks of trade diversion&rdquo;. Initial assessments are expected in mid-May, with the topic likely to dominate the agenda at Thursday&rsquo;s meeting of EU trade ministers in Brussels.</div>
<h2><span>Currency and competitiveness</span></h2>
<div>Further complicating matters is the recent weakening of the Chinese yuan, which in April 2025 hit its lowest level against the euro in more than a decade. This currency slump makes Chinese exports even more attractive to European buyers, increasing competitive pressure on domestic producers already battling deflation and sluggish demand.</div>
<div>As imports from China swell, EU exports to China are faltering. Between January 2023 and December 2024, EU exports to China dropped 12.5 per cent, while imports from China decreased by just 4.9 per cent. This decline in European exports contrasts sharply with a 3 per cent increase in exports to other non-EU countries during the same period.</div>
<div>Monthly trade data reinforces the trend: EU exports to China fell from &euro;19.2 billion ($21.5 billion) in January 2023 to &euro;16.8 billion ($18.8 billion) in December 2024, with the trade deficit peaking at &euro;29 billion ($32.5 million) in August 2024. Though imports from China also declined slightly, the overall deficit remains steep, underscoring Europe&rsquo;s dependence on Chinese goods amid weakening demand for European products in China.</div>
<h2><span>More protectionism likely?</span></h2>
<div>The evolving trade conflict has already altered the strategy of European capitals. Policymakers are increasingly under pressure to safeguard their industries&mdash;not only from Chinese competition but also from the collateral damage of US policies aimed squarely at Beijing.</div>
<div>With the global trade system becoming more fragmented, economists predict that Europe will continue to introduce more non-tariff barriers and subsidies for critical industries. The European Commission is expected to intensify efforts to prevent unfair competition, especially in sectors like automotive, green technology, and advanced manufacturing.</div>
<div>Whether Europe can maintain its identity as a bastion of free trade while protecting its industrial base in this era of geopolitical rivalry remains one of the defining challenges of the post-pandemic global economy.</div>

Business & Economy: In the first four months of 2025, China’s trade surplus with the EU surged to a record $90 billion, underlining the shift in global trade patterns

As the United States and China intensify their economic rivalry, Europe finds itself increasingly caught in the middle—vulnerable to becoming a dumping ground for Chinese goods shut out of the American market. Despite the European Union’s (EU) efforts to balance relations with both superpowers, China’s rapidly growing trade surplus with the EU is triggering alarm across the continent and exposing cracks in Europe’s open-market model. As the United States and China escalate their economic rivalry and with no long-term certain solution in sight, Europe finds itself caught in the crossfire, increasingly vulnerable to becoming a fallback market for Chinese goods squeezed out of the US economy. Despite the European Union’s (EU) efforts to maintain balanced relations with both economic giants, China’s growing trade surplus with the EU is raising alarm across the continent. In the first four months of 2025 alone, China’s trade surplus with the EU surged to a record $90 billion, underlining the shift in global trade patterns as the US imposed reciprocal tariffs on dozens of countries. With American levies on Chinese goods still up to 30 percentage points higher than they were at the start of this year, much of China’s excess production is being increasingly redirected toward Europe—some through Southeast Asia and Latin America. According to a report by Bloomberg, Maxime Darmet, senior economist at Allianz Trade, said, “European and non-US markets are going to see an increase in Chinese shipments.” “China will want to keep global market share at a high level, so will try to increase share in other markets,” Darmet added. The new trade battlefield The shifting trade tides are testing the EU’s core principles of economic openness. As Washington embraced a more protectionist stance, Brussels had to recalibrate its trade strategy. The EU has responded with targeted measures—such as tariffs on Chinese electric vehicles (EVs)—but has so far resisted a full-scale trade war. At the heart of the trade imbalance lies China’s aggressive industrial policy. State subsidies, particularly in the electric vehicle sector, have helped Chinese companies like BYD undercut competitors around the world. In 2024, BYD sold 4.27 million new vehicles globally, a 41 per cent jump from the previous year. Of those, 1.76 million were fully electric, putting BYD just behind Tesla in global EV sales. China’s plug-in hybrid sales also soared 72.83 per cent to 2.49 million units. The European Commission’s move to impose duties on these heavily subsidised imports in late 2024 sparked outrage in Beijing. In retaliation, China launched an anti-dumping investigation into European dairy products, including cheese and milk—an echo of past tit-for-tat trade tensions and a sign that hostilities are broadening beyond vehicles and technology. Despite these disputes, China remains the EU’s largest trading partner, and the EU is China's second-largest. More than half of EU imports from China consist of mechanical appliances and electrical equipment, while vehicles and aircraft account for less than 6 per cent. On the export side, mechanical appliances and electrical equipment also lead, followed by vehicles and pharmaceuticals. Germany and France at the forefront of the storm Germany has been particularly impacted by the changing trade dynamics. The bilateral trade relationship with China, once marked by a German surplus, has flipped dramatically. In 2020, China had a trade deficit of over $18 billion with Germany. By 2024, that had reversed to a $12 billion surplus, and if current trends hold, China’s surplus with Germany could exceed $25 billion in 2025. One major factor has been the rapid rise in Chinese car exports, including both EVs and conventional models, while German exports to China, especially cars, have declined. Despite EU tariffs curbing EV imports, Chinese automakers have ramped up deliveries of hybrids and combustion-engine vehicles, maintaining their momentum in the European market. France, too, is in the spotlight as it prepares for high-level talks with Chinese Vice Premier He Lifeng. The meeting comes after a temporary 90-day truce between Washington and Beijing, which lowered some tariffs but left many trade barriers firmly in place. European markets welcomed the pause, but economists remain wary, warning that the underlying tensions are far from resolved. Meanwhile, the EU’s trade chief Maros Sefcovic acknowledged the growing concerns last week, stating that the bloc is “monitoring possible risks of trade diversion”. Initial assessments are expected in mid-May, with the topic likely to dominate the agenda at Thursday’s meeting of EU trade ministers in Brussels. Currency and competitiveness Further complicating matters is the recent weakening of the Chinese yuan, which in April 2025 hit its lowest level against the euro in more than a decade. This currency slump makes Chinese exports even more attractive to European buyers, increasing competitive pressure on domestic producers already battling deflation and sluggish demand. As imports from China swell, EU exports to China are faltering. Between January 2023 and December 2024, EU exports to China dropped 12.5 per cent, while imports from China decreased by just 4.9 per cent. This decline in European exports contrasts sharply with a 3 per cent increase in exports to other non-EU countries during the same period. Monthly trade data reinforces the trend: EU exports to China fell from €19.2 billion ($21.5 billion) in January 2023 to €16.8 billion ($18.8 billion) in December 2024, with the trade deficit peaking at €29 billion ($32.5 million) in August 2024. Though imports from China also declined slightly, the overall deficit remains steep, underscoring Europe’s dependence on Chinese goods amid weakening demand for European products in China. More protectionism likely? The evolving trade conflict has already altered the strategy of European capitals. Policymakers are increasingly under pressure to safeguard their industries—not only from Chinese competition but also from the collateral damage of US policies aimed squarely at Beijing. With the global trade system becoming more fragmented, economists predict that Europe will continue to introduce more non-tariff barriers and subsidies for critical industries. The European Commission is expected to intensify efforts to prevent unfair competition, especially in sectors like automotive, green technology, and advanced manufacturing. Whether Europe can maintain its identity as a bastion of free trade while protecting its industrial base in this era of geopolitical rivalry remains one of the defining challenges of the post-pandemic global economy.

US-China trade rift may turn Europe into a dumping ground for Chinese goods

<p><span>US President</span><span> <a href="https://www.wionews.com/world/qatar-a-lago-banner-seen-near-trumps-palm-beach-home-amid-controversy-over-400-mn-qatari-jet-9069570">Donald Trump</a> claimed on Thursday (May 15) that India had put forward a proposal for a trade agreement with "no tariffs" or 'zero tariffs". Speaking at a business event in Qatar, the US president claimed that India is "willing to literally charge us no tariff." </span><span>Meanwhile, the Sensex jumped 1,300 points after Trump's statement.</span><span></span></p>
<p><strong>Read More | <a href="https://www.wionews.com/world/donald-trump-in-qatar-after-meeting-syrian-leader-in-saudi-arabia-announces-200-billion-boeing-deal-9069455">Trump announces $200 billion Boeing deal in Qatar, expresses hope for Iran nuclear deal to Qatari emir</a></strong></p>
<p><span>Last month, US President JD Vance, during his visit to India, indicated that the US and India had finalised "terms of reference" for a potential tariff deal. Vance made the big announcement the day after meeting with Indian Prime Minister Narendra Modi, saying that it sets a roadmap towards a final deal between the two nations. US Treasury Secretary Scott Bessent also suggested that India is likely to be the first country to finalise a bilateral trade agreement with the US.&nbsp;</span></p>
<p><span>In March, the US imposed 25% levies on steel and aluminium imports - an extension of tariffs first imposed in 2018 during US President Donald Trump's first term.</span></p>
<p><span><strong>Read More | <a href="https://www.wionews.com/world/will-trump-attend-russia-ukraine-peace-talks-in-istanbul-heres-what-we-know-volodymyr-zelensky-donald-trump-vladimir-putin-turkey-talks-9070912">Will Trump attend Russia-Ukraine peace talks in Istanbul? Here's what we know</a></strong></span></p>
<h2><span>Trump's Qatar trip</span></h2>
<p><span>Trump reached Qatar on Wednesday (May 14) - his second stop on a tour of West Asia. On Day 1 of Qatar trip, Trump announced that Qatar Airways signed a massive deal with US-based Boeing to purchase 160 jets, worth $200 billion. </span><span>Trump also expressed his hopes about the Iran nuclear deal and said in Doha, "I have a feeling it&rsquo;s going to work out." His remark came a day after Trump called Iran the "most destructive force" in the Middle East. "The biggest and most destructive force [in the Middle East] is Iran which has caused unthinkable suffering in Syria, Lebanon, Gaza, Iraq, Yemen and beyond,&rdquo; he said during his visit to Saudi Arabia.&nbsp;</span></p>
<p><strong>Read More | <a href="https://www.wionews.com/world/donald-trump-meets-ahmed-al-sharaa-becomes-first-us-president-to-meet-syrian-leader-in-25-years-see-pics-9067927">Donald Trump meets Ahmed al-Sharaa, becomes first US president to meet Syrian leader in 25 years: See pics</a></strong></p>
<h2><span>Trump meets Syrian leader</span></h2>
<p><span>Donald Trump became the first US president in 25 years to meet a Syrian leader Ahmed al-Sharaa. No US president has met a Syrian leader since Bill Clinton saw Hafez al-Assad, Bashar&rsquo;s father, in Geneva in 2000 in a failed effort to persuade him to make peace with Israel. Trump announced that he was lifting &ldquo;brutal and crippling" Assad-era sanctions on Syria. Syrian leader Ahmed al-Sharaa was seen in a meeting with Saudi officials including Crown Prince MBS, US President Trump and Secretary of State Marco Rubio.</span></p>
<p><strong>Read More |<span>&nbsp;</span><a href="https://www.wionews.com/world/donald-trump-meets-ahmed-al-sharaa-becomes-first-us-president-to-meet-syrian-leader-in-25-years-see-pics-9067927" target="_blank" rel="noopener">Donald Trump meets Ahmed al-Sharaa, becomes first US president to meet Syrian leader in 25 years: See pics</a></strong></p>

World | US President Donald Trump claimed on Thursday (May 15) that India had put forward a proposal for a trade agreement with "no tariffs" or 'zero tariffs".

US President Donald Trump claimed on Thursday (May 15) that India had put forward a proposal for a trade agreement with "no tariffs" or 'zero tariffs". Speaking at a business event in Qatar, the US president claimed that India is "willing to literally charge us no tariff." Meanwhile, the Sensex jumped 1,300 points after Trump's statement. Read More | Trump announces $200 billion Boeing deal in Qatar, expresses hope for Iran nuclear deal to Qatari emir Last month, US President JD Vance, during his visit to India, indicated that the US and India had finalised "terms of reference" for a potential tariff deal. Vance made the big announcement the day after meeting with Indian Prime Minister Narendra Modi, saying that it sets a roadmap towards a final deal between the two nations. US Treasury Secretary Scott Bessent also suggested that India is likely to be the first country to finalise a bilateral trade agreement with the US. In March, the US imposed 25% levies on steel and aluminium imports - an extension of tariffs first imposed in 2018 during US President Donald Trump's first term. Read More | Will Trump attend Russia-Ukraine peace talks in Istanbul? Here's what we know Trump's Qatar trip Trump reached Qatar on Wednesday (May 14) - his second stop on a tour of West Asia. On Day 1 of Qatar trip, Trump announced that Qatar Airways signed a massive deal with US-based Boeing to purchase 160 jets, worth $200 billion. Trump also expressed his hopes about the Iran nuclear deal and said in Doha, "I have a feeling it’s going to work out." His remark came a day after Trump called Iran the "most destructive force" in the Middle East. "The biggest and most destructive force [in the Middle East] is Iran which has caused unthinkable suffering in Syria, Lebanon, Gaza, Iraq, Yemen and beyond,” he said during his visit to Saudi Arabia. Read More | Donald Trump meets Ahmed al-Sharaa, becomes first US president to meet Syrian leader in 25 years: See pics Trump meets Syrian leader Donald Trump became the first US president in 25 years to meet a Syrian leader Ahmed al-Sharaa. No US president has met a Syrian leader since Bill Clinton saw Hafez al-Assad, Bashar’s father, in Geneva in 2000 in a failed effort to persuade him to make peace with Israel. Trump announced that he was lifting “brutal and crippling" Assad-era sanctions on Syria. Syrian leader Ahmed al-Sharaa was seen in a meeting with Saudi officials including Crown Prince MBS, US President Trump and Secretary of State Marco Rubio. Read More | Donald Trump meets Ahmed al-Sharaa, becomes first US president to meet Syrian leader in 25 years: See pics

'India offered trade deal with literally no tariffs': Donald Trump's big claim amid tariff war

U.S. President Donald Trump has revealed details of the highly speculated trade deal with China.

US-China Trade Ties: After tariff war, Trump hails 'good relationship' with China

Asian stocks edged higher early on friday, tracking Wall Street's positive close driven by the U.S.-UK trade deal announcement. While stocks and oil rose, gold also rebounded to gain. That shows the mixed sentiment in markets, reflecting many unanswered issues in the UK trade deal.

Asian Stocks Edge Up On Optimism About Trade Talks

<p>US President Donald Trump on Tuesday (May 6) completely scraped off reducing tariffs on Canada, saying that there's nothing Canadian Prime Minister Mark Carney can say to lift <a href="https://www.wionews.com/tags/us-tariffs">US tariffs</a>.&nbsp;</p>
<p>During meeting with the Canadian PM, a reporter asked if there is anything Carney can say to him that would make him lift the tariffs on Canada. To this, Trump replied, "No, that's just the way it is." &nbsp;</p>
<p>Trump said that "this is a very friendly conversation" with Carney but that the US wants to make its own cars.&nbsp;</p>
<p><strong>Also read: <a href="https://www.wionews.com/world/wonderful-marriage-between-us-and-canada-pm-carney-says-canada-will-never-be-for-sale-trump-replies-never-say-never-9042011">'Wonderful marriage between US and Canada': PM Carney says 'Canada will never be for sale', Trump replies, 'never say never'</a></strong></p>
<p>&ldquo;We don&rsquo;t really want cars from Canada,&rdquo; Trump said. &ldquo;We don&rsquo;t want steel from Canada because we&rsquo;re making our own steel.&rdquo;</p>
<p>He also reiterated that Canada needs US good more than the US needs Canadian goods. "We don't do a lot of a business with Canada, they do a lot of business with us," he said.</p>
<p>He said Canada buys the US's "top notch" military equipment. However, Carney didn't respond.</p>
<p><strong>Also read: <a href="https://www.wionews.com/world/very-talented-very-good-trump-calls-canada-pm-carneys-win-greater-than-his-in-surprisingly-warm-white-house-welcome-9041911">'Very talented, very good': Trump calls Canada PM Carney&rsquo;s win &lsquo;greater than his&rsquo; in surprisingly warm White House welcome</a></strong></p>
<p>Trump said it was an "honour" to host the Canadian prime minister following his election victory. Trump says the US will "always' protect Canada, and adds that "it's not a money thing".</p>
<p>It was a long-awaited meeting that came after weeks of strained relations over tariffs and talk of annexation.</p>
<p>Despite the recent tensions, the meeting began on a surprisingly warm note. President Trump told reporters in the Oval Office it was a &ldquo;great honour&rdquo; to host Carney, describing his election win as &ldquo;very big&rdquo;.</p>
<p>&ldquo;I think I was probably the greatest thing that happened to him,&rdquo; Trump said. &ldquo;His party was losing a lot, and he ended up winning. So I really want to congratulate him, probably one of the greatest comebacks in the history of politics, maybe even greater than mine.&rdquo;</p>
<p><strong>Also read: <a href="https://www.wionews.com/world/we-dont-need-anything-from-canada-trump-blasts-canada-ahead-of-first-meeting-with-pm-carney-at-white-house-9041768">&lsquo;We don&rsquo;t need ANYTHING from Canada&rsquo;: Trump blasts Canada ahead of first meeting with PM Carney at White House</a>&nbsp;</strong></p>

When asked if there is anything Carney can say to him that would make him lift the tariffs on Canada. To this, Trump replied, "No, that's just the way it is."  WORLD

US President Donald Trump on Tuesday (May 6) completely scraped off reducing tariffs on Canada, saying that there's nothing Canadian Prime Minister Mark Carney can say to lift US tariffs. During meeting with the Canadian PM, a reporter asked if there is anything Carney can say to him that would make him lift the tariffs on Canada. To this, Trump replied, "No, that's just the way it is." Trump said that "this is a very friendly conversation" with Carney but that the US wants to make its own cars. Also read: 'Wonderful marriage between US and Canada': PM Carney says 'Canada will never be for sale', Trump replies, 'never say never' “We don’t really want cars from Canada,” Trump said. “We don’t want steel from Canada because we’re making our own steel.” He also reiterated that Canada needs US good more than the US needs Canadian goods. "We don't do a lot of a business with Canada, they do a lot of business with us," he said. He said Canada buys the US's "top notch" military equipment. However, Carney didn't respond. Also read: 'Very talented, very good': Trump calls Canada PM Carney’s win ‘greater than his’ in surprisingly warm White House welcome Trump said it was an "honour" to host the Canadian prime minister following his election victory. Trump says the US will "always' protect Canada, and adds that "it's not a money thing". It was a long-awaited meeting that came after weeks of strained relations over tariffs and talk of annexation. Despite the recent tensions, the meeting began on a surprisingly warm note. President Trump told reporters in the Oval Office it was a “great honour” to host Carney, describing his election win as “very big”. “I think I was probably the greatest thing that happened to him,” Trump said. “His party was losing a lot, and he ended up winning. So I really want to congratulate him, probably one of the greatest comebacks in the history of politics, maybe even greater than mine.” Also read: ‘We don’t need ANYTHING from Canada’: Trump blasts Canada ahead of first meeting with PM Carney at White House

'There's nothing PM Carney could say to lift US tariffs': Trump completely dismisses reducing tariffs on Canada

<p>US President Donald Trump on Tuesday (May 6) once again targeted China, saying that their economy is "suffering greatly" because of the <a href="https://www.wionews.com/tags/tariffs">tariffs</a>&nbsp;they brought in.&nbsp;</p>
<p>The US president further said that the Chinese are "not doing business right now" and their ships are "turning around in the Pacific Ocean."</p>
<p>Trump added that the Chinese leadership "want to meet", adding that they want to negotiate a trade deal to end the tariffs.&nbsp;</p>
<p><strong>Also read: <a href="https://www.wionews.com/business-economy/chinas-services-growth-9039421">US tariffs stall China&rsquo;s services growth: PMI hits 7-month low as trade tensions escalate</a></strong></p>
<p>"We will be meeting with them at the right time," he said during his meeting with UK Prime Minister Mark Carney.&nbsp;</p>
<p>US President Trump and UK PM Keir Starmer have now departed for private talks, where the media is not invited.&nbsp;</p>
<p>Earlier today, US Treasury Secretary Scott Bessent said that China has not engaged in negotiations yet.</p>
<p>"We are currently negotiating with 17 of those trading partners. China, we have not engaged in negotiations with as of yet," Bessent said.&nbsp;</p>
<p><strong>Also read: <a href="https://www.wionews.com/world/chinas-xi-jinping-to-visit-russia-on-may-7-10-says-kremlin-9037068">China's Xi Jinping to visit Russia on May 7-10, says Kremlin</a></strong></p>
<p>Last week, Trump in an interview to NBC, hinted at lowering tariffs on China, stressing that Beijing wants to do business with them.&nbsp;</p>
<p>He acknowledged that the current tariffs are so high that the two of the world's largest economies have essentially stopped doing business with each other.&nbsp;</p>
<p>"At some point, I'm going to lower them, because otherwise, you could never do business with them, and they want to do business very much," Trump said in an interview on NBC's 'Meet the Press with Kristen Welker'.</p>
<p>He further said that there have been "positive" statements from China in the last few days, while, he also said that any deal finalised with China has to be "fair".&nbsp;</p>
<p>China on Friday last week, hinted at being open to sit across the US on the negotiation table since Trump's tariffs were announced on Liberation Day, saying it was evaluating the possibility of trade talks with the US.&nbsp;</p>
<p><strong>Also read: <a href="https://www.wionews.com/world/we-dont-need-anything-from-canada-trump-blasts-canada-ahead-of-first-meeting-with-pm-carney-at-white-house-9041768">&lsquo;We don&rsquo;t need ANYTHING from Canada&rsquo;: Trump blasts Canada ahead of first meeting with PM Carney at White House</a></strong></p>

The US president further said that the Chinese are "not doing business right now" and their ships are "turning around in the Pacific Ocean." world

US President Donald Trump on Tuesday (May 6) once again targeted China, saying that their economy is "suffering greatly" because of the tariffs they brought in. The US president further said that the Chinese are "not doing business right now" and their ships are "turning around in the Pacific Ocean." Trump added that the Chinese leadership "want to meet", adding that they want to negotiate a trade deal to end the tariffs. Also read: US tariffs stall China’s services growth: PMI hits 7-month low as trade tensions escalate "We will be meeting with them at the right time," he said during his meeting with UK Prime Minister Mark Carney. US President Trump and UK PM Keir Starmer have now departed for private talks, where the media is not invited. Earlier today, US Treasury Secretary Scott Bessent said that China has not engaged in negotiations yet. "We are currently negotiating with 17 of those trading partners. China, we have not engaged in negotiations with as of yet," Bessent said. Also read: China's Xi Jinping to visit Russia on May 7-10, says Kremlin Last week, Trump in an interview to NBC, hinted at lowering tariffs on China, stressing that Beijing wants to do business with them. He acknowledged that the current tariffs are so high that the two of the world's largest economies have essentially stopped doing business with each other. "At some point, I'm going to lower them, because otherwise, you could never do business with them, and they want to do business very much," Trump said in an interview on NBC's 'Meet the Press with Kristen Welker'. He further said that there have been "positive" statements from China in the last few days, while, he also said that any deal finalised with China has to be "fair". China on Friday last week, hinted at being open to sit across the US on the negotiation table since Trump's tariffs were announced on Liberation Day, saying it was evaluating the possibility of trade talks with the US. Also read: ‘We don’t need ANYTHING from Canada’: Trump blasts Canada ahead of first meeting with PM Carney at White House

China 'suffering greatly' from tariffs: Trump once again targets Beijing, says Xi Jinping 'wants to meet' him

As Donald Trump floats the idea of a 100% tariff on foreign entertainment, fans of international content may be forced into a real-life cliffhanger.

Will tariffs end the global flow of entertainment?

<div class="x_elementToProof" data-olk-copy-source="MessageBody">Sneakerheads brace yourself as Sketchers just dropped a bombshell. The comfort driven footwear giant is making a dramatic exit from Wall Street in a blockbuster $9.42billion buyout by investment firm 3G Capital, according to Reuters report.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">This move marks the biggest buyout in the sneaker industry's history which ends Sketchers' 26 year run as a publicly traded company.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">As per Reuters calculations, 3G Capitals is offering $63 per share in cash which is a 28 per cent premium over Sketchers' last close. This news send shares soaring 25 per cent $61.86, bouncing back from a year marked by nearly 30 per cent losses.</div>
<div class="x_elementToProof"></div>
<h2 class="x_elementToProof"><b>What is the deal?</b><b></b></h2>
<div class="x_elementToProof">As reported by Reuters, this wasn&rsquo;t a competitive bidding war. The deal was bilateral, with 3G Capital leveraging its long-standing relationship with the Greenberg family&mdash;the founding force behind Skechers.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">Despite the ownership change, leadership stays put. CEO and founder Robert Greenberg, aged 85, will continue to steer the brand. His son Michael Greenberg (President) and David Weinberg (COO) will also retain their current roles.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">The deal is reportedly expected to close in the third quarter of 2025 and will be funded through a mix of 3G Capital&rsquo;s own cash and debt financing secured from JPMorgan Chase Bank.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">Given Skechers&rsquo; image as a family-run business that wasn&rsquo;t expected to sell, Needham analyst Tom Nikic called the acquisition &ldquo;very surprising,&rdquo;</div>
<div class="x_elementToProof">Tariffs, Trade Tensions &amp; Tough Decisions</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">The timing of this mega deal is no coincidence. Reuters notes that Skechers withdrew its annual forecast in April, citing the impact of President Donald Trump&rsquo;s steep 145 per cent import tariffs on Chinese goods.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">With China being a core manufacturing base for the brand, the tariffs significantly increased operating costs. This, paired with weakening consumer sentiment in the US, made staying public riskier.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">Skechers along with Nike and Adidas had urged the US government to exempt footwear from retaliatory tariffs. But with no relief in sight, the company may have opted for private control to navigate this uncertain terrain more flexibly.</div>
<div class="x_elementToProof"></div>
<h2 class="x_elementToProof"><b>From Chrome Dome to Global Comfort King: Rise of Sketchers</b><b></b></h2>
<div class="x_elementToProof">Skechers launched in 1992 with its edgy street-style shoe &ldquo;Chrome Dome.&rdquo; Fast forward three decades, and it has transformed into a global comfort-first brand with a massive footprint of 5,000 retail stores across more than 120 countries.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">Its shoes, priced between $75 and $150, have struck a chord with budget-conscious buyers. Star-studded collaborations with Britney Spears, Kim Kardashian and others have helped the brand stay relevant in a competitive landscape that includes legacy giants like Nike and fast-rising challengers like Hoka.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">According to TD Cowen analysts, 3G Capital&rsquo;s trademark focus on cost-cutting and efficiency could lay the groundwork for Skechers to re-enter the public market in the future.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">Though Skechers may be stepping off Wall Street, but it&rsquo;s certainly not stepping down. Backed by deep-pocketed 3G Capital and led by a founding team that&rsquo;s staying the course, the brand is reportedly gearing up for a new phase which is away from quarterly scrutiny, and possibly toward leaner, faster growth.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">As per Reuters reports, this is more than just a business deal. It&rsquo;s a power move in a rapidly changing market&mdash;and one that could shake up the future of the sneaker industry.</div>
<div class="x_elementToProof"></div>

Business & Economy: Skechers buyout news send shares soaring 25 per cent $61.86, bouncing back from a year marked by nearly 30 per cent losses.

Sneakerheads brace yourself as Sketchers just dropped a bombshell. The comfort driven footwear giant is making a dramatic exit from Wall Street in a blockbuster $9.42billion buyout by investment firm 3G Capital, according to Reuters report. This move marks the biggest buyout in the sneaker industry's history which ends Sketchers' 26 year run as a publicly traded company. As per Reuters calculations, 3G Capitals is offering $63 per share in cash which is a 28 per cent premium over Sketchers' last close. This news send shares soaring 25 per cent $61.86, bouncing back from a year marked by nearly 30 per cent losses. What is the deal? As reported by Reuters, this wasn’t a competitive bidding war. The deal was bilateral, with 3G Capital leveraging its long-standing relationship with the Greenberg family—the founding force behind Skechers. Despite the ownership change, leadership stays put. CEO and founder Robert Greenberg, aged 85, will continue to steer the brand. His son Michael Greenberg (President) and David Weinberg (COO) will also retain their current roles. The deal is reportedly expected to close in the third quarter of 2025 and will be funded through a mix of 3G Capital’s own cash and debt financing secured from JPMorgan Chase Bank. Given Skechers’ image as a family-run business that wasn’t expected to sell, Needham analyst Tom Nikic called the acquisition “very surprising,” Tariffs, Trade Tensions & Tough Decisions The timing of this mega deal is no coincidence. Reuters notes that Skechers withdrew its annual forecast in April, citing the impact of President Donald Trump’s steep 145 per cent import tariffs on Chinese goods. With China being a core manufacturing base for the brand, the tariffs significantly increased operating costs. This, paired with weakening consumer sentiment in the US, made staying public riskier. Skechers along with Nike and Adidas had urged the US government to exempt footwear from retaliatory tariffs. But with no relief in sight, the company may have opted for private control to navigate this uncertain terrain more flexibly. From Chrome Dome to Global Comfort King: Rise of Sketchers Skechers launched in 1992 with its edgy street-style shoe “Chrome Dome.” Fast forward three decades, and it has transformed into a global comfort-first brand with a massive footprint of 5,000 retail stores across more than 120 countries. Its shoes, priced between $75 and $150, have struck a chord with budget-conscious buyers. Star-studded collaborations with Britney Spears, Kim Kardashian and others have helped the brand stay relevant in a competitive landscape that includes legacy giants like Nike and fast-rising challengers like Hoka. According to TD Cowen analysts, 3G Capital’s trademark focus on cost-cutting and efficiency could lay the groundwork for Skechers to re-enter the public market in the future. Though Skechers may be stepping off Wall Street, but it’s certainly not stepping down. Backed by deep-pocketed 3G Capital and led by a founding team that’s staying the course, the brand is reportedly gearing up for a new phase which is away from quarterly scrutiny, and possibly toward leaner, faster growth. As per Reuters reports, this is more than just a business deal. It’s a power move in a rapidly changing market—and one that could shake up the future of the sneaker industry.

Skechers steps off Wall Street in record $9.42 Billion buyout amid tariff turmoil

<p><span data-preserver-spaces="true">As Hollywood is still trying to understand what a possible 100% tariff on foreign films could mean, following a dramatic post from President Donald Trump suggesting that such a move is on the table, the </span><span data-preserver-spaces="true">White</span><span data-preserver-spaces="true"> House seemed to walk back on what US President Donald Trump said on Monday (May 05).</span></p>
<h2><strong><span data-preserver-spaces="true">White House walks back Trump&rsquo;s </span><span data-preserver-spaces="true">post</span></strong></h2>
<p><span data-preserver-spaces="true">On Monday, the White House stepped in to clarify the situation. Spokesman Kush Desai told The Hollywood Reporter, &ldquo;Although no final decisions on foreign film tariffs have been made, the Administration is exploring all options to deliver on President Trump&rsquo;s directive to safeguard our country&rsquo;s national and economic security while Making Hollywood Great Again.&rdquo;</span></p>
<p><strong><span data-preserver-spaces="true">Also read: <a href="https://www.wionews.com/world/alcatraz-trump-wants-to-send-toughest-criminals-once-housed-al-capone-real-story-of-prison-of-last-resort-9037067" rel="dofollow noopener" target="_blank">'Prison of last resort': Alcatraz, where Trump wants to send toughest criminals, once housed Al Capone. Here is its story</a></span></strong></p>
<p><span data-preserver-spaces="true">The statement suggests the plan is still in its early stages, with the legal and logistical details far from finalised. Industry experts have raised questions about whether such a tariff could </span><span data-preserver-spaces="true">even</span><span data-preserver-spaces="true"> be applied, given the complexity of taxing services like film production, especially when international co-productions and streaming content blur geographical lines.</span></p>
<p><span data-preserver-spaces="true">In a social media post on Sunday night, Trump claimed, &ldquo;The Movie Industry in America is DYING </span><span data-preserver-spaces="true">a very fast</span><span data-preserver-spaces="true"> death,&rdquo; and said a foreign film tariff could help revive it.</span></p>
<p><strong><span data-preserver-spaces="true">Also read: <a href="https://www.wionews.com/business-economy/trump-tariffs-on-movies-produced-on-foreign-lands-9035984" rel="dofollow noopener" target="_blank">Donald Trump to impose tariffs on film production, is it a bad news for Hollywood?</a></span></strong></p>
<p><span data-preserver-spaces="true">He has directed the Commerce Department and the US Trade Representative to begin exploring the option of imposing such a tariff, adding that it was part of his broader goal to &ldquo;Make Hollywood Great Again.&rdquo;</span></p>
<p><span data-preserver-spaces="true">The White House has voiced concern that too many U.S. productions are being shot overseas, lured by lower labour costs and generous tax credits. While some American states also offer tax incentives, they are often not enough to compete with countries that provide substantial financial breaks to foreign film crews.</span></p>
<p><strong><span data-preserver-spaces="true">Also read: <a href="https://www.wionews.com/entertainment/donald-trump-orders-100-tariff-on-non-us-movies-in-a-bid-to-save-the-american-film-industry-hollywood-is-dying-9033517" rel="dofollow noopener" target="_blank">&lsquo;Hollywood is dying&rsquo;: Donald Trump orders 100% tariff on non-US movies in a bid to save the American film industry</a></span></strong></p>
<h2><strong><span data-preserver-spaces="true">Hollywood </span><span data-preserver-spaces="true">confused</span><span data-preserver-spaces="true"> and concerned</span></strong></h2>
<p><span data-preserver-spaces="true">The unexpected announcement has left many in the entertainment world scrambling for answers. There&rsquo;s uncertainty around whether the tariffs would affect TV shows, streaming platforms, co-productions, or even films partially produced in the US but completed abroad.</span></p>
<p><span data-preserver-spaces="true">Executives, filmmakers, and producers are unsure how such a policy would be implemented or how it might impact projects already in progress.</span></p>
<h2><strong><span data-preserver-spaces="true">Special ambassadors named as Hollywood plan develops</span></strong></h2>
<p><span data-preserver-spaces="true">Trump has appointed actors and directors Jon Voight, Sylvester Stallone, and Mel Gibson as &ldquo;special ambassadors&rdquo; to Hollywood. According to reports, Voight has been working on a strategy to bring more film production back to the U.S., though it&rsquo;s unclear if tariffs were ever part of that plan.</span></p>
<p><span data-preserver-spaces="true">Ironically, Mel Gibson himself could be directly affected. His next film, a follow-up to The Passion of the Christ, is set to begin filming in Italy later this year, potentially making it one of the first projects hit by the proposed </span><span data-preserver-spaces="true">tariff</span><span data-preserver-spaces="true">&nbsp;if it ever moves forward.</span></p>

World: In a social media post on Sunday night, Trump claimed, “The Movie Industry in America is DYING a very fast death,” and said a foreign film tariff could help revive it.

As Hollywood is still trying to understand what a possible 100% tariff on foreign films could mean, following a dramatic post from President Donald Trump suggesting that such a move is on the table, the White House seemed to walk back on what US President Donald Trump said on Monday (May 05). White House walks back Trump’s post On Monday, the White House stepped in to clarify the situation. Spokesman Kush Desai told The Hollywood Reporter, “Although no final decisions on foreign film tariffs have been made, the Administration is exploring all options to deliver on President Trump’s directive to safeguard our country’s national and economic security while Making Hollywood Great Again.” Also read: 'Prison of last resort': Alcatraz, where Trump wants to send toughest criminals, once housed Al Capone. Here is its story The statement suggests the plan is still in its early stages, with the legal and logistical details far from finalised. Industry experts have raised questions about whether such a tariff could even be applied, given the complexity of taxing services like film production, especially when international co-productions and streaming content blur geographical lines. In a social media post on Sunday night, Trump claimed, “The Movie Industry in America is DYING a very fast death,” and said a foreign film tariff could help revive it. Also read: Donald Trump to impose tariffs on film production, is it a bad news for Hollywood? He has directed the Commerce Department and the US Trade Representative to begin exploring the option of imposing such a tariff, adding that it was part of his broader goal to “Make Hollywood Great Again.” The White House has voiced concern that too many U.S. productions are being shot overseas, lured by lower labour costs and generous tax credits. While some American states also offer tax incentives, they are often not enough to compete with countries that provide substantial financial breaks to foreign film crews. Also read: ‘Hollywood is dying’: Donald Trump orders 100% tariff on non-US movies in a bid to save the American film industry Hollywood confused and concerned The unexpected announcement has left many in the entertainment world scrambling for answers. There’s uncertainty around whether the tariffs would affect TV shows, streaming platforms, co-productions, or even films partially produced in the US but completed abroad. Executives, filmmakers, and producers are unsure how such a policy would be implemented or how it might impact projects already in progress. Special ambassadors named as Hollywood plan develops Trump has appointed actors and directors Jon Voight, Sylvester Stallone, and Mel Gibson as “special ambassadors” to Hollywood. According to reports, Voight has been working on a strategy to bring more film production back to the U.S., though it’s unclear if tariffs were ever part of that plan. Ironically, Mel Gibson himself could be directly affected. His next film, a follow-up to The Passion of the Christ, is set to begin filming in Italy later this year, potentially making it one of the first projects hit by the proposed tariff if it ever moves forward.

'No final decisions': White House walks back Trump’s 100% foreign film tariff threat - Did the US President speak too soon?

A study gives clues to cosmic origin of gold and heavy elements, and they were created earlier than we thought.

Mystery Of Gold’s Origin In The Universe

U.S. President Donald Trump says the positive aspects of today’s U.S. economy are the result of his past policies, while the problems stem from Joe Biden’s handling. In an NBC interview, Trump said he takes responsibility but insisted Biden “did a terrible job.”

Trump defends tariffs amid economic contraction

For decades, the U.S. dollar has reigned as the world’s dominant currency—making up 57 percent of global foreign exchange reserves and featuring in 90 percent of currency trades in 2022. But Trump’s aggressive tariff policies and repeated attacks on the Federal Reserve have shaken global confidence in U.S. assets.

Trump’s tariffs stir investor unease

The impact of president Trump’s latest tariff hikes is beginning to show....
In the week of april 21, container bookings from china to the united states plummeted 48.6 percent year over year....
This follows three consecutive weeks of decline...

Trump tariffs trigger sharp drop in cargo shipments

<p class="MsoNormal"><span lang="EN-GB">Tariffs are now hitting your next gaming purchase. Microsoft has announced a sharp increase in prices for its Xbox consoles and select games, citing market conditions and rising development costs.<o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB">In the US, the entry-level Xbox series S will now cost $379.99, up from $299.99 &mdash; a 27 per cent jump. The premium series X galaxy black model saw a 22 per cent hike.<o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB">These changes come nearly five years after the launch of the series S and X, which have together sold around 30 million units globally. Microsoft says the move was made after &ldquo;Careful consideration&rdquo; of the changing economic landscape.</span></p>
<h2 class="MsoNormal"><span lang="EN-GB"><strong>Tariff impact on gaming industry</strong><o:p></o:p></span></h2>
<p class="MsoNormal"><span lang="EN-GB">It&rsquo;s not just the hardware. Prices for some new games from Microsoft-owned studios saw a 14 per cent increase. <o:p></o:p></span><span lang="EN-GB">The hike isn't limited to the US&mdash;in Europe, the Xbox series s will now retail for 349.99 Euros, up 17 per cent from its previous price. <o:p></o:p></span><span lang="EN-GB">Microsoft&rsquo;s announcement comes shortly after Sony raised prices for its PlayStation 5 models in select markets, including Europe.<o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB">However, Sony chose to exclude the US, highlighting regional market differences. Together, both tech giants are adjusting to higher development costs and tighter global supply conditions. <o:p></o:p></span><span lang="EN-GB">While Microsoft hasn&rsquo;t named it directly, a major force behind the price hike is the impact of US tariffs&mdash;particularly those placed on Chinese-made goods.<o:p></o:p></span></p>
<p class="MsoNormal"><span lang="EN-GB">Xbox consoles are primarily assembled in China, a country now facing up to 145 per cent tariffs on various product categories under US trade policy. <o:p></o:p></span><span lang="EN-GB">These tariffs, introduced during the trump administration, continue to weigh on the electronics and gaming sectors. <o:p></o:p></span><span lang="EN-GB">As production costs rise and tariffs squeeze margins, console makers like Microsoft are increasingly passing those costs on to consumers.</span></p>

Business & Economy: Tariffs are now hitting your next gaming purchase. Microsoft has announced a sharp increase in prices for its Xbox consoles and select games, citing market conditions and rising development costs.

Tariffs are now hitting your next gaming purchase. Microsoft has announced a sharp increase in prices for its Xbox consoles and select games, citing market conditions and rising development costs. In the US, the entry-level Xbox series S will now cost $379.99, up from $299.99 — a 27 per cent jump. The premium series X galaxy black model saw a 22 per cent hike. These changes come nearly five years after the launch of the series S and X, which have together sold around 30 million units globally. Microsoft says the move was made after “Careful consideration” of the changing economic landscape. Tariff impact on gaming industry It’s not just the hardware. Prices for some new games from Microsoft-owned studios saw a 14 per cent increase. The hike isn't limited to the US—in Europe, the Xbox series s will now retail for 349.99 Euros, up 17 per cent from its previous price. Microsoft’s announcement comes shortly after Sony raised prices for its PlayStation 5 models in select markets, including Europe. However, Sony chose to exclude the US, highlighting regional market differences. Together, both tech giants are adjusting to higher development costs and tighter global supply conditions. While Microsoft hasn’t named it directly, a major force behind the price hike is the impact of US tariffs—particularly those placed on Chinese-made goods. Xbox consoles are primarily assembled in China, a country now facing up to 145 per cent tariffs on various product categories under US trade policy. These tariffs, introduced during the trump administration, continue to weigh on the electronics and gaming sectors. As production costs rise and tariffs squeeze margins, console makers like Microsoft are increasingly passing those costs on to consumers.

Your gaming console just got pricier: Xbox costs surge amid tariffs

An age-old market maxim looms over the seven-day bounce in u.S. Stocks: sell in may and go away. One of the best-known market trends, the "Sell in may" effect, is backed by decades of historical performance. That trend is set to play out after wild swings in april, even as wall street futures point to a green open on may 1.

Tech Earnings Boost US Stocks Amid Historic Swings

As India celebrates Akshaya Tritiya, a day considered auspicious to buy gold, the World Gold Council says that the country's gold demand declined 15% year on year in the first quarter of 2025.

CAIT: Gold Sales Hit $1.4 Bn On Akshaya Tritiya

<p>During a cabinet meeting on Wednesday (Apr 30), US President Donald Trump said that he doesn&rsquo;t want China to &ldquo;suffer&rdquo; cause of tariffs, adding that <a href="https://www.wionews.com/tags/china">China</a>&nbsp;is doing &ldquo;very poorly&rdquo; right now.&nbsp;</p>
<p>&ldquo;China is doing very poorly right now,&rdquo; Trump said, adding that he doesn&rsquo;t want that to happen.</p>
<p>The president that that &ldquo;they are getting absolutely hammered in China&rdquo; because of his tariffs, and the cargo ships are turning away from there in the Pacific Ocean.</p>
<p><strong>Also read | <a href="https://www.wionews.com/world/chinas-message-to-bully-trump-amid-tariff-war-never-kneel-downkneeling-only-invites-more-bullying-9017484">WATCH | China's message to 'bully' Trump amid tariff war: 'Never kneel down...kneeling only invites more bullying'</a></strong></p>
<p>&ldquo;At a certain point, I hope we are going to make a deal with China, we are talking", he said.</p>
<p>&ldquo;We&rsquo;ll see what happens,&rdquo; he said, adding that he is &ldquo;not happy&rdquo; with the situation as he wants &ldquo;China to do well&rdquo;. Trump said, &ldquo;I want every country to do well.&rdquo;</p>
<p><strong>Also read | <a href="https://www.wionews.com/business-economy/us-china-tariff-war-escalates-9016877">China Unveils New Law to Boost Private Sector Amid Slowing Economy And US Tariff Impact</a></strong></p>
<h2><strong>US-China trade war</strong></h2>
<p>Last week, the US president claimed that he spoke with Chinese President Xi Jinping to discuss the ongoing tariff issue. However, Beijing denied the phone call, saying there are no discussions underway.</p>
<p>Speaking at a press briefing on Monday (Apr 28), Chinese Ministry of Foreign Affairs spokesperson Guo Jiakun said, &ldquo;As far as I know, there has been no recent phone call between the two heads of state.&rdquo; Guo also added, &ldquo;I want to reiterate that China and the United States are not engaged in consultations or negotiations on the tariff issue.&rdquo;</p>
<p><strong>Also read | <a href="https://www.wionews.com/world/biden-overhang-or-us-president-donald-trumps-tariffs-us-economy-shrinks-first-time-in-3-years-trump-asks-to-be-patient-tariff-9019776">Biden 'overhang' or Trump's tariffs? US economy shrinks first time in 3 years, Trump asks to 'BE PATIENT'</a></strong></p>
<p>&ldquo;If the US really wants to solve the problem through dialogue and negotiation, it should stop threatening and blackmailing (China),&rdquo; he said.</p>
<h2><strong>Trump lauds immigration enforcement</strong></h2>
<p>During the cabinet meeting Trump also discussing illegal border crossings, saying that they are down &ldquo;99.999 per cent&rdquo;.</p>
<p>He said that it was &ldquo;amazing&rdquo; and thanked the staff for doing an &ldquo;amazing job&rdquo;. Trump said his administration was having some &ldquo;judge problems&rdquo;, referring to the legal cases against his administration over deportations.</p>
<p><strong>Watch | US president Trump celebrates 100 days of second term with a campaign-style rally</strong></p>
<p><iframe width="600" height="auto" style="width: 100%; aspect-ratio: 4/3;" allowfullscreen="allowfullscreen" class="external-video publive-iframes-block" src="https://cdn.thepublive.com/wion/static/kaltura_player/wion_video_player_iframe.html?thumbnail=wion/media/post_attachments/screenshot/3004_TRUMP_7PM/00000002.jpg&amp;videourl=https://vodakm.zeenews.com/vod/WION/3004_TRUMP_7PM.mp4/index.m3u8&amp;duration=234&amp;tags=US, President, Trump, World News, WION" title="US president Trump celebrates 100 days of second term with campaign-style rally" id="PL_iframe_block-ma47a3zd-rcr79vb6-mj4et5vu"></iframe></p>
<p>&nbsp;</p>

Last week, the US president claimed that he spoke with Chinese President Xi Jinping to discuss the ongoing tariff issue. However, Beijing denied the phone call, saying there are no discussions underway. World

During a cabinet meeting on Wednesday (Apr 30), US President Donald Trump said that he doesn’t want China to “suffer” cause of tariffs, adding that China is doing “very poorly” right now. “China is doing very poorly right now,” Trump said, adding that he doesn’t want that to happen. The president that that “they are getting absolutely hammered in China” because of his tariffs, and the cargo ships are turning away from there in the Pacific Ocean. Also read | WATCH | China's message to 'bully' Trump amid tariff war: 'Never kneel down...kneeling only invites more bullying' “At a certain point, I hope we are going to make a deal with China, we are talking", he said. “We’ll see what happens,” he said, adding that he is “not happy” with the situation as he wants “China to do well”. Trump said, “I want every country to do well.” Also read | China Unveils New Law to Boost Private Sector Amid Slowing Economy And US Tariff Impact US-China trade war Last week, the US president claimed that he spoke with Chinese President Xi Jinping to discuss the ongoing tariff issue. However, Beijing denied the phone call, saying there are no discussions underway. Speaking at a press briefing on Monday (Apr 28), Chinese Ministry of Foreign Affairs spokesperson Guo Jiakun said, “As far as I know, there has been no recent phone call between the two heads of state.” Guo also added, “I want to reiterate that China and the United States are not engaged in consultations or negotiations on the tariff issue.” Also read | Biden 'overhang' or Trump's tariffs? US economy shrinks first time in 3 years, Trump asks to 'BE PATIENT' “If the US really wants to solve the problem through dialogue and negotiation, it should stop threatening and blackmailing (China),” he said. Trump lauds immigration enforcement During the cabinet meeting Trump also discussing illegal border crossings, saying that they are down “99.999 per cent”. He said that it was “amazing” and thanked the staff for doing an “amazing job”. Trump said his administration was having some “judge problems”, referring to the legal cases against his administration over deportations. Watch | US president Trump celebrates 100 days of second term with a campaign-style rally

‘China getting absolutely hammered’: Trump says Beijing doing ‘very poorly’ due to US tariffs

<p>The US economy saw a contraction during the first quarter of 2025 (time when Donald Trump returned to Oval Office), marking the first such decline in three years, according to the US Commerce Department.</p>
<p>The economy contracted by 0.3 per cent in the first quarter of this year, majorly attributed to increased imports as businesses and individuals built up inventories before US President Donald Trump's massive <a href="https://www.wionews.com/tags/tariffs">tariffs</a>&nbsp;took effect.</p>
<p>However, Trump on Wednesday (April 30) dismissed the claims and blamed former president Joe Biden for it.&nbsp;</p>
<p><strong>Also read: <a href="https://www.wionews.com/autonews/trump-administration-eases-auto-tariffs-following-industry-pressure-9019087">Trump administration eases auto tariffs following industry pressure</a></strong></p>
<p>Taking on Truth Social, the US president said that this is "Biden's stock market, not Trump", adding that the US has to get rid of "Biden overhang" and the country will "boom".&nbsp;</p>
<p>He further lauded him for bringing in the reciprocal tariffs this year, saying that tariffs will soon start kicking in and the country will boom.</p>
<p>"This is Biden&rsquo;s Stock Market, not Trump&rsquo;s. I didn&rsquo;t take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden &ldquo;Overhang," he said in the post.&nbsp;</p>
<p><iframe width="600" height="" style="max-width: 100%; border: 0;" src="https://truthsocial.com/@realDonaldTrump/114427089568235019/embed" class="truthsocial-embed" allowfullscreen="allowfullscreen"></iframe>
<script src="https://truthsocial.com/embed.js" async="async"></script>
</p>
<p>Trump further asked to be "PATIENT", saying that when the boom begins, it will be like no other.&nbsp;</p>
<p>"This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!," he claimed.&nbsp;</p>
<p><strong>Also read:&nbsp; <a href="https://www.wionews.com/world/chinas-message-to-bully-trump-amid-tariff-war-never-kneel-downkneeling-only-invites-more-bullying-9017484">WATCH | China's message to 'bully' Trump amid tariff war: 'Never kneel down...kneeling only invites more bullying'</a></strong></p>
<h2>What does the report say?</h2>
<p>The Gross Domestic Product (GDP) of the US declined at an annualised rate of 0.3% in the first quarter, according to the Commerce Department.&nbsp;</p>
<p>This marks the first quarter of negative growth since Q1 of 2022.&nbsp;</p>
<p>Following the release of the GDP report, the US stock futures slipped. This contraction puts the US economy on the verge of a technical recession.&nbsp;</p>
<p><strong>Also read: <a href="https://www.wionews.com/world/india-us-finalise-terms-for-trade-deal-vances-big-announcement-amid-trump-tariff-war-8990204">'India-US finalise terms for trade deal': Vance's BIG ANNOUNCEMENT amid Trump tariff war</a></strong></p>

Trump said that this is "Biden's stock market, not Trump", adding that the US has to get rid of "Biden overhang" and the country will "boom". WORLD

The US economy saw a contraction during the first quarter of 2025 (time when Donald Trump returned to Oval Office), marking the first such decline in three years, according to the US Commerce Department. The economy contracted by 0.3 per cent in the first quarter of this year, majorly attributed to increased imports as businesses and individuals built up inventories before US President Donald Trump's massive tariffs took effect. However, Trump on Wednesday (April 30) dismissed the claims and blamed former president Joe Biden for it. Also read: Trump administration eases auto tariffs following industry pressure Taking on Truth Social, the US president said that this is "Biden's stock market, not Trump", adding that the US has to get rid of "Biden overhang" and the country will "boom". He further lauded him for bringing in the reciprocal tariffs this year, saying that tariffs will soon start kicking in and the country will boom. "This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden “Overhang," he said in the post. Trump further asked to be "PATIENT", saying that when the boom begins, it will be like no other. "This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!," he claimed. Also read: WATCH | China's message to 'bully' Trump amid tariff war: 'Never kneel down...kneeling only invites more bullying' What does the report say? The Gross Domestic Product (GDP) of the US declined at an annualised rate of 0.3% in the first quarter, according to the Commerce Department. This marks the first quarter of negative growth since Q1 of 2022. Following the release of the GDP report, the US stock futures slipped. This contraction puts the US economy on the verge of a technical recession. Also read: 'India-US finalise terms for trade deal': Vance's BIG ANNOUNCEMENT amid Trump tariff war

Biden 'overhang' or Trump's tariffs? US economy shrinks first time in 3 years, Trump asks to 'BE PATIENT'

<div class="x_elementToProof" data-olk-copy-source="MessageBody">As the US-China trade war escalates, Beijing is bolstering its private sector to navigate economic headwinds. According to Bloomberg News, China&rsquo;s newly enacted law aims to provide private enterprises with equal footing alongside state-owned firms, even as factory activity contracts and exports to the US plummet under the weight of steep tariffs.</div>
<div class="x_elementToProof"><b></b></div>
<h2 class="x_elementToProof"><b>What is China&rsquo;s New Law, And How will it protect its Companies?</b></h2>
<div class="x_elementToProof">According to Xinhua News Agency, on April 30,&nbsp;during the Standing Committee of the National People&rsquo;s Congress Session, Chinese lawmakers passed a private sector promotion measure. The legislation will take effect on May 20. The legislation codifies the government's&nbsp;policies,&nbsp;ensuring private firms receive equal treatment in market access, financing, and innovative support, akin to their state-owned counterparts. It also prohibits excessive fines and administrative&nbsp;penalties against private companies.</div>
<div class="x_elementToProof">This move is seen as a strategic pivot by President Xi Jinping&rsquo;s administration to reassure entrepreneurs and stabilize&nbsp;the economy amid external pressure. However, critics have raised concerns over the new law&rsquo;s lack of clear enforcement mechanisms, casting doubt on how effectively it will protect companies on the ground.</div>
<h2 class="x_elementToProof"><b>China&rsquo;s Factory Output Contracts</b></h2>
<div class="x_elementToProof">According to Bloomberg News, the Chinese manufacturing sector is showing signs&nbsp;of strain. The world&rsquo;s second-biggest economy&rsquo;s factory activity slipped into its worst contraction since December 2023. The National Bureau of Statistics&nbsp;on April 30 said that the official Purchasing Managers&rsquo; Index (PMI) for April dropped to 49 from 50.5 in March, indicating a contraction in factory output. Similarly, the non-manufacturing PMI, which tracks services and construction, also fell to 50.4 from 50.8, signaling a broader slowdown.</div>
<h2 class="x_elementToProof"><b>US-China Trade Tension Escalates</b></h2>
<div class="x_elementToProof">The trade dispute between Washington and Beijing is showing no sign of letting up. China has retaliated with its own tariffs, and diplomatic relations&nbsp;with the two countries remain&nbsp;tense. Chinese Foreign Minister Wang Yi has critized the US approach, warning that any appeasement would only embolden what he described as &ldquo;the bully&rdquo;.</div>
<div class="x_elementToProof">Amid&nbsp;these escalating tensions, American companies like Boeing have become ensnared in the trade conflict. Chinese airlines&nbsp;have halted orders and deliveries, and some jets have been rerouted back to the US,&nbsp;underscoring the broader impact of&nbsp;the ongoing tariff war on global businesses.</div>
<div class="x_elementToProof">President Donald Trump&rsquo;s decision to impose 145 per cent tariffs on Chinese goods has significantly added pressure on Chinese exporters. The tariff hike, aimed at curbing China&rsquo;s trade surplus with the US,&nbsp;has worsened the economic strain,&nbsp;and in retaliation, China has slapped its own tariffs on American goods. As a result, cargo shipments between the two countries have plunged by as much as 60 per cent, affecting supply chains and amplifying the economic fallout.<br><br>While China has introduced measures to support its struggling firms and stimulate domestic consumption, it has refrained from launching large-scale economic stimulus. Instead, officials are focusing on executing previously approved economic packages while urging companies to align with government policies to weather the economic storm.</div>
<div class="x_elementToProof"></div>

Business & Economy: New Chinese legislation strives for business equality, giving private companies equal opportunities and fair treatment alongside state-owned entities.

As the US-China trade war escalates, Beijing is bolstering its private sector to navigate economic headwinds. According to Bloomberg News, China’s newly enacted law aims to provide private enterprises with equal footing alongside state-owned firms, even as factory activity contracts and exports to the US plummet under the weight of steep tariffs. What is China’s New Law, And How will it protect its Companies? According to Xinhua News Agency, on April 30, during the Standing Committee of the National People’s Congress Session, Chinese lawmakers passed a private sector promotion measure. The legislation will take effect on May 20. The legislation codifies the government's policies, ensuring private firms receive equal treatment in market access, financing, and innovative support, akin to their state-owned counterparts. It also prohibits excessive fines and administrative penalties against private companies. This move is seen as a strategic pivot by President Xi Jinping’s administration to reassure entrepreneurs and stabilize the economy amid external pressure. However, critics have raised concerns over the new law’s lack of clear enforcement mechanisms, casting doubt on how effectively it will protect companies on the ground. China’s Factory Output Contracts According to Bloomberg News, the Chinese manufacturing sector is showing signs of strain. The world’s second-biggest economy’s factory activity slipped into its worst contraction since December 2023. The National Bureau of Statistics on April 30 said that the official Purchasing Managers’ Index (PMI) for April dropped to 49 from 50.5 in March, indicating a contraction in factory output. Similarly, the non-manufacturing PMI, which tracks services and construction, also fell to 50.4 from 50.8, signaling a broader slowdown. US-China Trade Tension Escalates The trade dispute between Washington and Beijing is showing no sign of letting up. China has retaliated with its own tariffs, and diplomatic relations with the two countries remain tense. Chinese Foreign Minister Wang Yi has critized the US approach, warning that any appeasement would only embolden what he described as “the bully”. Amid these escalating tensions, American companies like Boeing have become ensnared in the trade conflict. Chinese airlines have halted orders and deliveries, and some jets have been rerouted back to the US, underscoring the broader impact of the ongoing tariff war on global businesses. President Donald Trump’s decision to impose 145 per cent tariffs on Chinese goods has significantly added pressure on Chinese exporters. The tariff hike, aimed at curbing China’s trade surplus with the US, has worsened the economic strain, and in retaliation, China has slapped its own tariffs on American goods. As a result, cargo shipments between the two countries have plunged by as much as 60 per cent, affecting supply chains and amplifying the economic fallout. While China has introduced measures to support its struggling firms and stimulate domestic consumption, it has refrained from launching large-scale economic stimulus. Instead, officials are focusing on executing previously approved economic packages while urging companies to align with government policies to weather the economic storm.

China Unveils New Law to Boost Private Sector Amid Slowing Economy And US Tariff Impact

The White House accuses Amazon of being 'hostile' after the company denies reports it would display tariff costs on its website, saying it's not pursuing such a plan. Watch this report to know more!

White House slams Amazon over tariff display plan

<p>US Treasury Secretary Scott Bessent on Tuesday (April 29) said that the President Donald Trump's administration is "very close" to finalise a <a href="https://www.wionews.com/tags/trade">trade </a>agreement with India, adding that it easy to do with India.&nbsp;</p>
<p>Bessent was speaking at a press briefing alongside White House Press Secretary Karoline Leavitt. The US treasury secretary said that negotiations with India have been "relatively smooth".&nbsp;</p>
<p>He noted that it is easy to negotiate because of the high tariffs, adding that the talks with the country are "moving well".&nbsp;</p>
<p><strong>Also read: <a href="https://www.wionews.com/world/jd-vance-speaks-on-us-indias-shared-priorities-calls-pm-modi-most-popular-leader-president-trump-wants-india-to-grow-8989489">'Most popular leader...tough negotiator': JD Vance praises PM Modi, asks India to ease tariffs</a></strong></p>
<p>He recalled US Vice President JD Vance's meeting with PM Modi.&nbsp;</p>
<p>"America's Asian trading partners and allies have been the most forthcoming in terms of doing the deals. As I mentioned, Vice President Vance was in India last week. I think that he and (Prime Minister Narendra) Modi made some very good progress. So I could see some announcements on India," Bessent told reporters at the White House.</p>
<p>When asked about the timeline for a trade deal, Bessent said, "I think that we are very close on India and in India...India, in a funny way, is easier to negotiate than the many other countries because they have very high tariffs and lots of tariffs."</p>
<p><strong>Also read: <a href="https://www.wionews.com/autonews/trump-administration-to-ease-auto-tariff-impact-offering-relief-to-automakers-9014606">Trump administration to ease auto tariff impact, offering relief to automakers</a></strong></p>
<p>He added that it's much easier to confront the direct tariffs "when we got through these unfair trade deals that have been put in over decades, that the non-tariff trade barriers can be much more insidious and also harder to detect."</p>
<p>Bessent said that with a country like India, it is much easier to negotiate with them.&nbsp;</p>
<p>"So I think the Indian negotiations are moving well," he said.</p>
<p>Earlier on Monday, the US treasury secretary told CNBC that India is likely to be among the first countries to finalise a bilateral trade agreement with the US.&nbsp;</p>
<p><strong>Also read: <a href="https://www.wionews.com/business-economy/end-of-cheap-hauls-sheins-prices-are-soaring-for-us-buyers-before-tariffs-bite-9009408">End of Cheap Hauls? Shein&rsquo;s Prices Are Soaring for US Buyers Before Tariffs Bite</a></strong></p>

Bessent was speaking at a press briefing alongside White House Press Secretary. Bessent said that negotiations with India have been "relatively smooth". World india news

US Treasury Secretary Scott Bessent on Tuesday (April 29) said that the President Donald Trump's administration is "very close" to finalise a trade agreement with India, adding that it easy to do with India. Bessent was speaking at a press briefing alongside White House Press Secretary Karoline Leavitt. The US treasury secretary said that negotiations with India have been "relatively smooth". He noted that it is easy to negotiate because of the high tariffs, adding that the talks with the country are "moving well". Also read: 'Most popular leader...tough negotiator': JD Vance praises PM Modi, asks India to ease tariffs He recalled US Vice President JD Vance's meeting with PM Modi. "America's Asian trading partners and allies have been the most forthcoming in terms of doing the deals. As I mentioned, Vice President Vance was in India last week. I think that he and (Prime Minister Narendra) Modi made some very good progress. So I could see some announcements on India," Bessent told reporters at the White House. When asked about the timeline for a trade deal, Bessent said, "I think that we are very close on India and in India...India, in a funny way, is easier to negotiate than the many other countries because they have very high tariffs and lots of tariffs." Also read: Trump administration to ease auto tariff impact, offering relief to automakers He added that it's much easier to confront the direct tariffs "when we got through these unfair trade deals that have been put in over decades, that the non-tariff trade barriers can be much more insidious and also harder to detect." Bessent said that with a country like India, it is much easier to negotiate with them. "So I think the Indian negotiations are moving well," he said. Earlier on Monday, the US treasury secretary told CNBC that India is likely to be among the first countries to finalise a bilateral trade agreement with the US. Also read: End of Cheap Hauls? Shein’s Prices Are Soaring for US Buyers Before Tariffs Bite

US-India trade deal soon? US Treasury Secretary Bessent says negotiations 'smoother' with India than other nations

Gold's rally to new records is making ever-larger waves in china by stoking retail demand for the yellow metal.

That has also fanned unprecedented trading volumes on the shanghai exchange, drawing warnings from the authorities.

Volatility In China's Yuan Drives Gold Demand

Donald Trump is running out of time ....

With biting tariffs,

Rusty supply chains ...

And warnings ringing from America’s biggest retailers...
 
The U.S. President has just two weeks to stop the country from

Facing the unthinkable...

Empty shelves in stores coast to coast.

Retail Giants Warn: Shelves Will Go Empty

Trump's tariff blitz is shaking up the global boardroom. From wall street to grocery store aisle, everyone is bracing for the impact.

But who's taking the biggest hit and who's passing the buck to yo one bill at a time?

That's what this next report decodes.

Tariffs Shake Up Global Earnings Season

Trump's trade war is hitting American wallets hard, with tariffs imposed on various countries, including China, Canada, Mexico, and the European Union. The tariffs aim to boost US competitiveness but have led to higher prices, reduced imports, and economic losses.

Trump's challenge: Makes America shop again

<p>US President Donald Trump's administration has been silently tipping off Wall Street executives about the progress of trade negotiations ahead of a possible deal with India, a Fox journalist said.&nbsp;</p>
<p>Fox Business Correspondent Charles Gasparino reported on X, highlighting a scoop, "people inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India."</p>
<p>He cited the information to his sources who are senior Wall Street execs with ties to the White House.</p>
<p><strong>Also read: <a href="https://www.wionews.com/world/india-a-trade-trendsetter-is-trump-planning-to-use-india-us-trade-deal-as-a-global-template-9002235">India, a trade trendsetter? Is Trump planning to use India-US trade deal as a global template?</a></strong></p>
<blockquote class="twitter-tweet">
<p lang="en" dir="ltr">SCOOP: People inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India, according to my sources who are senior Wall Street execs w ties to the White House. No details on timing, and recall that we have been here&hellip;</p>
&mdash; Charles Gasparino (@CGasparino) <a href="https://twitter.com/CGasparino/status/1915399740113535446?ref_src=twsrc%5Etfw">April 24, 2025</a></blockquote>
<p>"No details on timing, and recall that we have been here before with Japan only to have the goal posts changed, and terms renegotiated. But if this holds, the India deal being envisioned will include agreed upon goals, and issues that have been addressed and resolved as well as a deadline for the fully-baked trade pact, my sources say," Gasparino said on X.&nbsp;</p>
<p>He further hinted that the India-US trade deal could be used as a "template for a deal with Japan, South Korea and Australia."</p>
<p>The correspondent's post on X attracted accusations of "insider trading" since Wall Street firms could take advantage of the information to make money on the stock market for themselves.&nbsp;</p>
<p><strong>Also read: <a href="https://www.wionews.com/world/india-us-finalise-terms-for-trade-deal-vances-big-announcement-amid-trump-tariff-war-8990204">'India-US finalise terms for trade deal': Vance's BIG ANNOUNCEMENT amid Trump tariff war</a></strong></p>
<p>Meanwhile, Bloomberg reporter Joel Weisenthal questioned, "Why are Wall Street executives getting early alerts from people inside the Trump White House about the status of trade negotiations?"</p>
<p>Moreover, a Wall Street analyst asked, "Why does the Securities and Exchange Commission (SEC) allow this? And given they do, shouldn&rsquo;t they just be disbanded? Or is enforcement only for the poor?&rdquo;</p>
<p>This comes just two weeks after Trump bragged about how his billionaire pals after he announced tariffs on April 2.&nbsp;</p>
<p><strong>WATCH | <a href="https://www.wionews.com/videos/trumps-trade-war-india-seeks-us-trade-deal-to-avoid-tariffs-8955833">Trump's trade war: India seeks US trade deal to avoid tariffs</a></strong></p>
<p>&ldquo;THIS IS A GREAT TIME TO BUY!!!!&rdquo; he said in a post on Truth Social just four hours before he paused the controversial tariffs on April 9.</p>
<p>According to a Bloomberg report, Wednesday was the &ldquo;best day ever&rdquo; for billionaires as the world&rsquo;s wealthiest people raked in $304 billion when the markets rocketed back up.</p>
<p>This showed signs of market manipulation and insider trading, as Trump critics accused the US president of tipping off Wall Street execs. &nbsp;</p>
<p><strong>Also read: <a href="https://www.wionews.com/world/its-possible-trump-eyes-new-trade-deal-with-china-8738910">&lsquo;It&rsquo;s possible&rsquo;: Trump eyes new trade deal with China</a></strong></p>

The post attracted accusations of "insider trading" since Wall Street firms could take advantage to make money on stock market for themselves. WORLD India news

US President Donald Trump's administration has been silently tipping off Wall Street executives about the progress of trade negotiations ahead of a possible deal with India, a Fox journalist said. Fox Business Correspondent Charles Gasparino reported on X, highlighting a scoop, "people inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India." He cited the information to his sources who are senior Wall Street execs with ties to the White House. Also read: India, a trade trendsetter? Is Trump planning to use India-US trade deal as a global template? SCOOP: People inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India, according to my sources who are senior Wall Street execs w ties to the White House. No details on timing, and recall that we have been here… — Charles Gasparino (@CGasparino) April 24, 2025 "No details on timing, and recall that we have been here before with Japan only to have the goal posts changed, and terms renegotiated. But if this holds, the India deal being envisioned will include agreed upon goals, and issues that have been addressed and resolved as well as a deadline for the fully-baked trade pact, my sources say," Gasparino said on X. He further hinted that the India-US trade deal could be used as a "template for a deal with Japan, South Korea and Australia." The correspondent's post on X attracted accusations of "insider trading" since Wall Street firms could take advantage of the information to make money on the stock market for themselves. Also read: 'India-US finalise terms for trade deal': Vance's BIG ANNOUNCEMENT amid Trump tariff war Meanwhile, Bloomberg reporter Joel Weisenthal questioned, "Why are Wall Street executives getting early alerts from people inside the Trump White House about the status of trade negotiations?" Moreover, a Wall Street analyst asked, "Why does the Securities and Exchange Commission (SEC) allow this? And given they do, shouldn’t they just be disbanded? Or is enforcement only for the poor?” This comes just two weeks after Trump bragged about how his billionaire pals after he announced tariffs on April 2. WATCH | Trump's trade war: India seeks US trade deal to avoid tariffs “THIS IS A GREAT TIME TO BUY!!!!” he said in a post on Truth Social just four hours before he paused the controversial tariffs on April 9. According to a Bloomberg report, Wednesday was the “best day ever” for billionaires as the world’s wealthiest people raked in $304 billion when the markets rocketed back up. This showed signs of market manipulation and insider trading, as Trump critics accused the US president of tipping off Wall Street execs. Also read: ‘It’s possible’: Trump eyes new trade deal with China

'Insider trading?' Trump admin tipped off Wall Street about possible India-US trade deal

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