<div class="x_elementToProof" data-olk-copy-source="MessageBody">China&rsquo;s economy is showing a fresh sign of deflationary strain.&nbsp;According to data from the National Bureau of Statistics,&nbsp;as reported by Reuters, consumer prices fell for a third consecutive month in April. This highlights growing economic uncertainty as the US-China trade war escalates.</div>
<div class="x_elementToProof">The Consumer Price Index (CPI) dropped 0.1 per cent year-on-year, mirroring the decline in March and aligning with economists&rsquo; forecasts. On a monthly basis, CPI edged up slightly by 0.1 per cent, reversing a 0.4 per cent fall in the previous month. Meanwhile, the Producer Price Index (PPI), which tracks the cost of goods at the factory gate, fell 2.7 per cent year-on-year, deepening from a 2.5 per cent decline in March. The continued drop in prices signals weak domestic demand and adds to the fear that the world&rsquo;s second-largest economy is sliding deeper into deflation.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">This economic fragility of China comes at a time when Beijing is facing intensifying trade tensions with Washington.</div>
<h2 class="x_elementToProof">US-China trade talks resume amid fresh tariff threats</h2>
<div class="x_elementToProof">On May 9, 2025, just a day before the Geneva summit, US President Donald Trump reaffirmed his administration&rsquo;s commitment to maintaining a baseline 10 per cent tariff on imports, even after trade deals are finalised. He also suggested the possibility of increasing tariffs on Chinese goods to 80 per cent, a reduction from the previously imposed 145 per cent levies. These statements set the tone for the high-stakes trade talks scheduled for May 10 in Geneva between US Treasury Secretary Scott Bessent, Chief Trade Negotiator Jamieson Greer, and China&rsquo;s Vice Premier He Lifeng. The discussions mark the first formal engagement between the two nations since the escalation of the tariff war earlier this year.</div>
<div class="x_elementToProof">The backdrop to these talks is a series of escalating trade measures. In April 2025, President Trump imposed a 145 per cent&nbsp;tariff on Chinese imports, citing concerns over trade imbalances and national security. China swiftly retaliated with a 125 per cent tariff on US goods, leading to a significant downturn in bilateral trade. Despite the tensions, both countries have expressed a cautious willingness to return to the negotiating table, with China emphasising&nbsp;the need for &ldquo;equal consultation&rdquo; and mutual respect in resolving trade disputes.</div>
<h2 class="x_elementToProof">Impact of the Trade War on China</h2>
<div class="x_elementToProof">The ongoing trade tensions have had a tangible impact on China&rsquo;s economy. The services sector, which makes up a significant portion of the country&rsquo;s GDP, is showing signs of slowdown. According to a Reuters report published on May 7, China&rsquo;s Caixin/S&amp;P Global Services Purchasing Managers&rsquo; Index (PMI) &nbsp;slipped to 50.7 in April from 51.9 in March, while the official services PMI dipped to 50.1, just above the contraction line. Meanwhile, exports to the US fell sharply, dropping 17.6 per cent month-on-month from $40.1 billion in March to $33.0 billion in April, marking the lowest level in five years. In response, the People&rsquo;s Bank of China (PBOC) announced a set of monetary easing measures by cutting the seven-day reverse repo rate by 10 basis points to 1.40 per cent and lowering the reserve requirement ratio by 50 basis points, expected to inject about 1 trillion yuan ($138 billion) into the economy.</div>
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Business & Economy: Deflation concerns deepen in China as consumer prices fall for the third consecutive month. This comes ahead of the US-China trade meet in Geneva on May 10.

China’s economy is showing a fresh sign of deflationary strain. According to data from the National Bureau of Statistics, as reported by Reuters, consumer prices fell for a third consecutive month in April. This highlights growing economic uncertainty as the US-China trade war escalates. The Consumer Price Index (CPI) dropped 0.1 per cent year-on-year, mirroring the decline in March and aligning with economists’ forecasts. On a monthly basis, CPI edged up slightly by 0.1 per cent, reversing a 0.4 per cent fall in the previous month. Meanwhile, the Producer Price Index (PPI), which tracks the cost of goods at the factory gate, fell 2.7 per cent year-on-year, deepening from a 2.5 per cent decline in March. The continued drop in prices signals weak domestic demand and adds to the fear that the world’s second-largest economy is sliding deeper into deflation. This economic fragility of China comes at a time when Beijing is facing intensifying trade tensions with Washington. US-China trade talks resume amid fresh tariff threats On May 9, 2025, just a day before the Geneva summit, US President Donald Trump reaffirmed his administration’s commitment to maintaining a baseline 10 per cent tariff on imports, even after trade deals are finalised. He also suggested the possibility of increasing tariffs on Chinese goods to 80 per cent, a reduction from the previously imposed 145 per cent levies. These statements set the tone for the high-stakes trade talks scheduled for May 10 in Geneva between US Treasury Secretary Scott Bessent, Chief Trade Negotiator Jamieson Greer, and China’s Vice Premier He Lifeng. The discussions mark the first formal engagement between the two nations since the escalation of the tariff war earlier this year. The backdrop to these talks is a series of escalating trade measures. In April 2025, President Trump imposed a 145 per cent tariff on Chinese imports, citing concerns over trade imbalances and national security. China swiftly retaliated with a 125 per cent tariff on US goods, leading to a significant downturn in bilateral trade. Despite the tensions, both countries have expressed a cautious willingness to return to the negotiating table, with China emphasising the need for “equal consultation” and mutual respect in resolving trade disputes. Impact of the Trade War on China The ongoing trade tensions have had a tangible impact on China’s economy. The services sector, which makes up a significant portion of the country’s GDP, is showing signs of slowdown. According to a Reuters report published on May 7, China’s Caixin/S&P Global Services Purchasing Managers’ Index (PMI) slipped to 50.7 in April from 51.9 in March, while the official services PMI dipped to 50.1, just above the contraction line. Meanwhile, exports to the US fell sharply, dropping 17.6 per cent month-on-month from $40.1 billion in March to $33.0 billion in April, marking the lowest level in five years. In response, the People’s Bank of China (PBOC) announced a set of monetary easing measures by cutting the seven-day reverse repo rate by 10 basis points to 1.40 per cent and lowering the reserve requirement ratio by 50 basis points, expected to inject about 1 trillion yuan ($138 billion) into the economy.

China faces deepening deflation as consumer prices fall for third month due to US trade strain

Chinese President Xi Jinping&rsquo;s state visit to Moscow marked a pivotal moment in the deepening of Beijing-Russia ties, as the two leaders reaffirmed their long-standing partnership with symbolism and substance. This is President Xi&rsquo;s first face-to-face meeting with Russian President Vladimir Putin since 2022, and notably, his first visit to Moscow since US President Donald Trump returned to the Oval Office.
The timing is no coincidence. President Xi&rsquo;s trip comes just days before a high-stakes, face-to-face dialogue between China and the United States in Geneva, where top officials will sit down to negotiate over an escalating trade tariff dispute. Xi and Putin&rsquo;s renewed show of unity underscores their shared desire to present a unified front,&nbsp;just as China prepares to recalibrate its economic diplomacy on the world stage.
In a ceremonial display of solidarity, Xi was welcomed at the Grand Kremlin Palace, where he and Putin exchanged greetings as &ldquo;dear friends.&rdquo; The leaders held bilateral talks, signed a sweeping joint statement, and stood side-by-side during the Victory Day Parade in Red Square, commemorating the Soviet Union&rsquo;s defeat of Nazi Germany in World War II.
<h2>China-Russia Economic Ties: From Sanctions to Strategic Dependency</h2>
The economic bond between Beijing and Moscow has become increasingly critical,&nbsp;particularly for a sanctions-hit Russia. According to Chinese customs data, bilateral trade between China and Russia surged to a record $245 billion in 2024, marking a 68 per cent increase from 2021.
As reported by Bloomberg, this growth was largely driven by China&rsquo;s expanded imports of Russian oil and gas and exports of automobiles, electronics, machinery, and dual-use components vital to Russia&rsquo;s wartime production. The alignment became especially critical after Western nations imposed harsh sanctions on Russia following its invasion of Ukraine.
Reuters notes that Russia has emerged as the top importer of Chinese vehicles, benefiting from the exit of Western carmakers. However, recent Russian tax hikes and softening demand have slowed Chinese car exports in early 2025.
Despite the trade momentum, key frictions remain. Beijing has been hesitant to finalise&nbsp;the Power of Siberia 2 gas pipeline deal, a flagship Russian energy project that would run through Mongolia. As per Bloomberg, China is opting for a diversified energy portfolio rather than locking itself into deeper dependency on Russian gas.
&nbsp;
Xi-Putin joint address in Russia
In their joint statement, as stated by Reuters, Xi and Putin pledged to &ldquo;further deepen the China-Russia comprehensive strategic partnership of coordination for a new era.&rdquo; The document strongly criticised Western sanctions and power politics, stating,&nbsp;&ldquo;Both sides strongly oppose the imposition of unilateral illegitimate restrictive measures and external interference in the internal affairs of sovereign states.&rdquo;
Xi emphasised&nbsp;that,&nbsp;&ldquo;China stands together with Russia in opposing unilateralism, bullying, and interference by powerful forces in the name of international rules.&rdquo;&nbsp;
Putin echoed the sentiment, stating,&nbsp;&ldquo;Together with our Chinese friends, we stand guard over historical truth and uphold global fairness, stability, and order.&rdquo;
Both leaders also vowed to strengthen coordination in international forums, including the United Nations, BRICS, and the G20, with a stated goal of promoting &ldquo;global strategic balance and multilateralism.&rdquo;
<h2>The Geneva Talks: China&rsquo;s Diplomatic Tightrope</h2>
President Xi&rsquo;s high-profile Moscow visit precedes a crucial moment in China&rsquo;s foreign economic policy: direct trade talks with the US in Geneva, where Beijing is expected to seek relief from President Trump&rsquo;s 145 per cent tariffs on Chinese goods, among the highest imposed by any administration.
According to Bloomberg, China will likely position itself as the more responsible amid the turbulence caused by Trump&rsquo;s &ldquo;America First&rdquo; policy. At the same time, Beijing has been strengthening ties with Latin America, Africa, and Southeast Asia, looking for alternative markets to reduce reliance on the US
Xi&rsquo;s state visit to Moscow had set against the backdrop of the Geneva trade talks,&nbsp;is a bold geopolitical signal. As China walks a diplomatic tightrope in Geneva, it&rsquo;s doing so without backing away from its closest strategic partner.

Business & Economy: The timing is no coincidence. President Xi’s trip comes just days before a high-stakes, face-to-face dialogue between China and the US in Geneva, where top officials will sit down to negotiate over an escalating trade tariff dispute.

Chinese President Xi Jinping’s state visit to Moscow marked a pivotal moment in the deepening of Beijing-Russia ties, as the two leaders reaffirmed their long-standing partnership with symbolism and substance. This is President Xi’s first face-to-face meeting with Russian President Vladimir Putin since 2022, and notably, his first visit to Moscow since US President Donald Trump returned to the Oval Office. The timing is no coincidence. President Xi’s trip comes just days before a high-stakes, face-to-face dialogue between China and the United States in Geneva, where top officials will sit down to negotiate over an escalating trade tariff dispute. Xi and Putin’s renewed show of unity underscores their shared desire to present a unified front, just as China prepares to recalibrate its economic diplomacy on the world stage. In a ceremonial display of solidarity, Xi was welcomed at the Grand Kremlin Palace, where he and Putin exchanged greetings as “dear friends.” The leaders held bilateral talks, signed a sweeping joint statement, and stood side-by-side during the Victory Day Parade in Red Square, commemorating the Soviet Union’s defeat of Nazi Germany in World War II. China-Russia Economic Ties: From Sanctions to Strategic Dependency The economic bond between Beijing and Moscow has become increasingly critical, particularly for a sanctions-hit Russia. According to Chinese customs data, bilateral trade between China and Russia surged to a record $245 billion in 2024, marking a 68 per cent increase from 2021. As reported by Bloomberg, this growth was largely driven by China’s expanded imports of Russian oil and gas and exports of automobiles, electronics, machinery, and dual-use components vital to Russia’s wartime production. The alignment became especially critical after Western nations imposed harsh sanctions on Russia following its invasion of Ukraine. Reuters notes that Russia has emerged as the top importer of Chinese vehicles, benefiting from the exit of Western carmakers. However, recent Russian tax hikes and softening demand have slowed Chinese car exports in early 2025. Despite the trade momentum, key frictions remain. Beijing has been hesitant to finalise the Power of Siberia 2 gas pipeline deal, a flagship Russian energy project that would run through Mongolia. As per Bloomberg, China is opting for a diversified energy portfolio rather than locking itself into deeper dependency on Russian gas. Xi-Putin joint address in Russia In their joint statement, as stated by Reuters, Xi and Putin pledged to “further deepen the China-Russia comprehensive strategic partnership of coordination for a new era.” The document strongly criticised Western sanctions and power politics, stating, “Both sides strongly oppose the imposition of unilateral illegitimate restrictive measures and external interference in the internal affairs of sovereign states.” Xi emphasised that, “China stands together with Russia in opposing unilateralism, bullying, and interference by powerful forces in the name of international rules.” Putin echoed the sentiment, stating, “Together with our Chinese friends, we stand guard over historical truth and uphold global fairness, stability, and order.” Both leaders also vowed to strengthen coordination in international forums, including the United Nations, BRICS, and the G20, with a stated goal of promoting “global strategic balance and multilateralism.” The Geneva Talks: China’s Diplomatic Tightrope President Xi’s high-profile Moscow visit precedes a crucial moment in China’s foreign economic policy: direct trade talks with the US in Geneva, where Beijing is expected to seek relief from President Trump’s 145 per cent tariffs on Chinese goods, among the highest imposed by any administration. According to Bloomberg, China will likely position itself as the more responsible amid the turbulence caused by Trump’s “America First” policy. At the same time, Beijing has been strengthening ties with Latin America, Africa, and Southeast Asia, looking for alternative markets to reduce reliance on the US Xi’s state visit to Moscow had set against the backdrop of the Geneva trade talks, is a bold geopolitical signal. As China walks a diplomatic tightrope in Geneva, it’s doing so without backing away from its closest strategic partner.

Xi-Putin cement strategic ties ahead of US-China high-stakes Geneva trade talks

<div data-olk-copy-source="MessageBody">US President Donald Trump has announced plans to impose a 100 per cent tariff on all movies &ldquo;produced in foreign lands&rdquo; on Sunday, arguing that the American film industry is "dying a very fast death" due to the incentives offered by foreign governments, which he claims lure US filmmakers overseas.</div>
<div></div>
<div></div>
<div>In a post on Truth Social, Trump said, &ldquo;Hollywood, and many other areas within the USA, are being devastated. This is a concerted effort by other nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda! Therefore, I am authorising the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100 per cent tariff on any and all movies coming into our country that are produced in foreign lands.&rdquo;</div>
<div></div>
<div></div>
<div>&ldquo;We want movies made in America, again!&rdquo; the post further said.</div>
<div></div>
<div></div>
<div>Replying to his post, the US Commerce Secretary Howard Lutnick said, "We're on it", in a post on social media platform X.</div>
<div></div>
<div></div>
<div>Both Trump and Lutnick have not yet provided any clarity on how these tariffs will be imposed and who it will be targeted at.</div>
<div></div>
<div>
<h2>What prompted the move?</h2>
<div>The protectionist move by the US President follows China&rsquo;s recent decision to reduce the number of American films allowed in its market. After the US, China is the world&rsquo;s second-largest film market in the world and the move could be a blow to big Hollywood studios like Disney, Warner Bros. and Paramount, which are already struggling to recover from the pandemic.</div>
<div></div>
<div></div>
<div>The China Film Administration, in a statement on April 10, said, &ldquo;The wrong action of the US government to abuse tariffs on China will inevitably further reduce the domestic audience&rsquo;s favourability towards American films,&rdquo;&nbsp;The Guardian&nbsp;reported.</div>
<div></div>
<div></div>
<div>Hollywood studios spent $11.3 billion on productions in the second quarter of 2024, a 20 per cent drop from the same period in 2022, reflecting a downturn in industry activity. Globally, film and television production levels declined by 20 per cent, while the US saw a sharper 40 per cent decline from pre-strike levels. The Greater Los Angeles Area experienced a 36.4 per cent decrease in shoot days compared to its five-year average, underscoring the widespread impact of production slowdowns across key sectors.</div>
<div></div>
<div></div>
<div>Governments around the world have offered more generous tax credits and cash rebates to lure production, and capture a greater share of the $248 billion that Ampere Analysis predicts will be spent globally in 2025 to produce content.</div>
<div></div>
<div></div>
<div>Worried about the growing troubles of the American film industry, last month, hundreds of Hollywood crew members, producers and actors urged California legislators to increase tax incentives and enact other measures to encourage more film and TV production in and around Los Angeles.</div>
<div></div>
<div></div>
<div>As the trade war between the US and China escalates, the entertainment industry, particularly Hollywood, faces significant challenges. While tariffs and trade restrictions are disrupting global supply chains and affecting multiple sectors, Hollywood&rsquo;s increasing reliance on international locations like the UK for film production may turn out to be a unique challenge for the American film industry. The growing uncertainty could force the industry to reconsider its global strategies, potentially reshaping the landscape of film production, distribution, and international partnerships for years to come.</div>
<div></div>
<div>(With inputs from agencies)</div>
</div>

Business & Economy: Intensifying his protectionist policies, Trump plans to impose a 100% tariff on all movies produced outside the US. The move could impact Hollywood

US President Donald Trump has announced plans to impose a 100 per cent tariff on all movies “produced in foreign lands” on Sunday, arguing that the American film industry is "dying a very fast death" due to the incentives offered by foreign governments, which he claims lure US filmmakers overseas. In a post on Truth Social, Trump said, “Hollywood, and many other areas within the USA, are being devastated. This is a concerted effort by other nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda! Therefore, I am authorising the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100 per cent tariff on any and all movies coming into our country that are produced in foreign lands.” “We want movies made in America, again!” the post further said. Replying to his post, the US Commerce Secretary Howard Lutnick said, "We're on it", in a post on social media platform X. Both Trump and Lutnick have not yet provided any clarity on how these tariffs will be imposed and who it will be targeted at. What prompted the move? The protectionist move by the US President follows China’s recent decision to reduce the number of American films allowed in its market. After the US, China is the world’s second-largest film market in the world and the move could be a blow to big Hollywood studios like Disney, Warner Bros. and Paramount, which are already struggling to recover from the pandemic. The China Film Administration, in a statement on April 10, said, “The wrong action of the US government to abuse tariffs on China will inevitably further reduce the domestic audience’s favourability towards American films,” The Guardian reported. Hollywood studios spent $11.3 billion on productions in the second quarter of 2024, a 20 per cent drop from the same period in 2022, reflecting a downturn in industry activity. Globally, film and television production levels declined by 20 per cent, while the US saw a sharper 40 per cent decline from pre-strike levels. The Greater Los Angeles Area experienced a 36.4 per cent decrease in shoot days compared to its five-year average, underscoring the widespread impact of production slowdowns across key sectors. Governments around the world have offered more generous tax credits and cash rebates to lure production, and capture a greater share of the $248 billion that Ampere Analysis predicts will be spent globally in 2025 to produce content. Worried about the growing troubles of the American film industry, last month, hundreds of Hollywood crew members, producers and actors urged California legislators to increase tax incentives and enact other measures to encourage more film and TV production in and around Los Angeles. As the trade war between the US and China escalates, the entertainment industry, particularly Hollywood, faces significant challenges. While tariffs and trade restrictions are disrupting global supply chains and affecting multiple sectors, Hollywood’s increasing reliance on international locations like the UK for film production may turn out to be a unique challenge for the American film industry. The growing uncertainty could force the industry to reconsider its global strategies, potentially reshaping the landscape of film production, distribution, and international partnerships for years to come. (With inputs from agencies)

Donald Trump to impose tariffs on film production, is it a bad news for Hollywood?

The odds of a U.S. Recession by year-end are climbing as wall street cites escalating trade tensions, especially with president Trump’s tariffs. The latest data shows the U.S. Economy contracted for the first time in three years, signaling a slowdown.

Global economies at risk as U.S. tariffs shake confidence

<div class="x_elementToProof" data-olk-copy-source="MessageBody">A piping hot cup of coffee has long been a morning ritual for millions. But that ritual is coming with a heavier price tag &mdash; and not just because of inflation. From drought-hit plantations in Brazil to unpredictable the US trade policies, the global coffee supply chain is under siege. Here&rsquo;s why your favorite brew might soon feel like a luxury.</div>
<h2 class="x_elementToProof">Climate crisis hits coffee farms hard</h2>
<div class="x_elementToProof">Climate change is wreaking havoc in coffee-growing regions, especially in Brazil and Vietnam, which are also two powerhouses in global production.</div>
<div class="x_elementToProof">Extreme heat and prolonged drought have reduced yields drastically, driving up bean prices across the board. As reported by the Associated Press (AP), global green coffee exports fell by 14.2% in February compared to last year.</div>
<div class="x_elementToProof">Rene&eacute; Col&oacute;n, owner of Fuego Coffee Roasters in New York, told AP that she paid $5.50 per pound for beans in March, a sharp jump from just $2.50 in September. That&rsquo;s more than double the cost in just six months.</div>
<div class="x_elementToProof">She warned of worsening scarcity: &ldquo;Coffee is going to become scarcer. The Brazilian crop loss we just saw is a prime example of how climate extremes are affecting supply,&rdquo; she told AP.</div>
<h2 class="x_elementToProof">Trump tariffs brew fresh trouble</h2>
<div class="x_elementToProof">As if climate wasn&rsquo;t enough, the US import tariffs under President Donald Trump are further tightening the screws.</div>
<div class="x_elementToProof">Currently, a 10% import tariff applies to coffee imports from Brazil, Ethiopia, and Colombia &mdash; three major coffee-exporting nations. Trump had also threatened 46% tariffs on Vietnamese coffee and 32% on Indonesian imports. Although these specific hikes were paused, the mere announcements sent shockwaves through the coffee industry.</div>
<div class="x_elementToProof">Coffee buyers and roasters are struggling to make sense of the constant policy flip-flops.</div>
<div class="x_elementToProof">&ldquo;It felt like a rollercoaster,&rdquo; said Daria Whalen, a buyer at Ritual Coffee Roasters, while speaking to AP. She described being in Mexico during April as she scrambled to secure contracts amid uncertainty over which tariffs would take effect and when. &ldquo;By the end of the day, sometimes the tariffs just disappeared,&rdquo; she added.</div>
<div class="x_elementToProof">This unpredictability is forcing businesses to rework supply chains. Many roasters are now pre-buying stock, fearing future tariffs. But that also drives up short-term demand and prices.</div>
<h2 class="x_elementToProof">Prices, profits and panic: A triple-whammy situation</h2>
<div class="x_elementToProof">Coffee roasters are now walking a tightrope: how much of the rising cost can they absorb, and how much can they pass on to consumers?</div>
<div class="x_elementToProof">Col&oacute;n shared with AP that her business has already raised wholesale bean prices by 25 cents per pound and may soon raise prices for espresso drinks and pour-overs at her cafes. Yet, she&rsquo;s wary of losing customers as consumer confidence in the U.S. hits a 12-year low.</div>
<div class="x_elementToProof">&ldquo;It&rsquo;s tough on every side,&rdquo; she told AP. &ldquo;The price goes up for us, the consumer pays more, and the farmers suffer massive losses from droughts and storms.&rdquo;</div>
<h2 class="x_elementToProof">How small businesses are adapting?</h2>
<div class="x_elementToProof">Despite the odds, Col&oacute;n is expanding. According to AP, she and her husband took out a $50,000 loan in December to purchase a custom coffee roaster from Turkey, tripling their roasting capacity. They&rsquo;re also focusing on direct-to-consumer sales through a subscription model and pursuing more wholesale clients.</div>
<div class="x_elementToProof">To save costs, she&rsquo;s exploring in-house storage of raw beans, avoiding monthly charges of $500 at port-side warehouses.</div>
<div class="x_elementToProof">And while international suppliers have approached her with cost-saving alternatives &mdash; like routing coffee through Canada due to a strong U.S. dollar &mdash; Col&oacute;n isn&rsquo;t biting.</div>
<div class="x_elementToProof">&ldquo;That adds more borders, more delays, more confusion,&rdquo; she told AP. &ldquo;I want things to be less complicated, not more.&rdquo;</div>

Business & Economy: Uncover how climate and trade disruptions are impacting the coffee industry, and making your favorite cup of latte more costly.

A piping hot cup of coffee has long been a morning ritual for millions. But that ritual is coming with a heavier price tag — and not just because of inflation. From drought-hit plantations in Brazil to unpredictable the US trade policies, the global coffee supply chain is under siege. Here’s why your favorite brew might soon feel like a luxury. Climate crisis hits coffee farms hard Climate change is wreaking havoc in coffee-growing regions, especially in Brazil and Vietnam, which are also two powerhouses in global production. Extreme heat and prolonged drought have reduced yields drastically, driving up bean prices across the board. As reported by the Associated Press (AP), global green coffee exports fell by 14.2% in February compared to last year. Reneé Colón, owner of Fuego Coffee Roasters in New York, told AP that she paid $5.50 per pound for beans in March, a sharp jump from just $2.50 in September. That’s more than double the cost in just six months. She warned of worsening scarcity: “Coffee is going to become scarcer. The Brazilian crop loss we just saw is a prime example of how climate extremes are affecting supply,” she told AP. Trump tariffs brew fresh trouble As if climate wasn’t enough, the US import tariffs under President Donald Trump are further tightening the screws. Currently, a 10% import tariff applies to coffee imports from Brazil, Ethiopia, and Colombia — three major coffee-exporting nations. Trump had also threatened 46% tariffs on Vietnamese coffee and 32% on Indonesian imports. Although these specific hikes were paused, the mere announcements sent shockwaves through the coffee industry. Coffee buyers and roasters are struggling to make sense of the constant policy flip-flops. “It felt like a rollercoaster,” said Daria Whalen, a buyer at Ritual Coffee Roasters, while speaking to AP. She described being in Mexico during April as she scrambled to secure contracts amid uncertainty over which tariffs would take effect and when. “By the end of the day, sometimes the tariffs just disappeared,” she added. This unpredictability is forcing businesses to rework supply chains. Many roasters are now pre-buying stock, fearing future tariffs. But that also drives up short-term demand and prices. Prices, profits and panic: A triple-whammy situation Coffee roasters are now walking a tightrope: how much of the rising cost can they absorb, and how much can they pass on to consumers? Colón shared with AP that her business has already raised wholesale bean prices by 25 cents per pound and may soon raise prices for espresso drinks and pour-overs at her cafes. Yet, she’s wary of losing customers as consumer confidence in the U.S. hits a 12-year low. “It’s tough on every side,” she told AP. “The price goes up for us, the consumer pays more, and the farmers suffer massive losses from droughts and storms.” How small businesses are adapting? Despite the odds, Colón is expanding. According to AP, she and her husband took out a $50,000 loan in December to purchase a custom coffee roaster from Turkey, tripling their roasting capacity. They’re also focusing on direct-to-consumer sales through a subscription model and pursuing more wholesale clients. To save costs, she’s exploring in-house storage of raw beans, avoiding monthly charges of $500 at port-side warehouses. And while international suppliers have approached her with cost-saving alternatives — like routing coffee through Canada due to a strong U.S. dollar — Colón isn’t biting. “That adds more borders, more delays, more confusion,” she told AP. “I want things to be less complicated, not more.”

Is your coffee getting pricier?: Here’s how climate change and Trump tariff is affecting it

Trump's tariff threats escalate global tensions, while Xi signs new trade deals across Asia, strengthening China's economic ties.

Trump's Tariff threats shake global ties, Xi signs new trade deal across Asia

As the United States scrambles for trade deals with nations before the 90-day tariff pause ends, South Korea has proposed a 'July Package' in an effort to avoid US tariffs. The export-driven economy of South Korea stands to lose a lot if tariffs are imposed, particularly for major firms like Samsung and Hyundai.
South Korea's ministers have been vocal about the long-term potential damage these tariffs could cause to the $100 billion trade between the two nations. US Treasury Secretary Scott Bessent recently said the countries have agreed to a framework for future consultations. Additional discussions are scheduled during the APEC trade ministers' meeting in Seoul this May.
<h2>South Korea's economy braces for tariffs</h2>
South Korea's central bank reported a 0.1 per cent contraction in GDP for the first quarter of 2025. The decline is attributed to market volatility tied to tariff concerns, along with domestic instability. While the US believes the talks are 'very successful,' officials in South Korea are racing to Fast-track the deal.
<h2>India closes in on a trade deal</h2>
While South Korea negotiates tariff relief, India is on track to become the first country to finalise a bilateral trade agreement under the new policy framework. This was confirmed by the treasury secretary, Scott Bessent. US officials have reportedly praised India's low tariffs and absence of currency manipulation for enabling smooth negotiations.
India's finance minister, Nirmala Sitharaman, has also expressed optimism, stating that India hopes to conclude the first phase of the deal by fall.

Business & Economy, The export-driven economy of South Korea stands to lose a lot if tariffs are imposed, particularly for major firms like Samsung and Hyundai.

As the United States scrambles for trade deals with nations before the 90-day tariff pause ends, South Korea has proposed a 'July Package' in an effort to avoid US tariffs. The export-driven economy of South Korea stands to lose a lot if tariffs are imposed, particularly for major firms like Samsung and Hyundai. South Korea's ministers have been vocal about the long-term potential damage these tariffs could cause to the $100 billion trade between the two nations. US Treasury Secretary Scott Bessent recently said the countries have agreed to a framework for future consultations. Additional discussions are scheduled during the APEC trade ministers' meeting in Seoul this May. South Korea's economy braces for tariffs South Korea's central bank reported a 0.1 per cent contraction in GDP for the first quarter of 2025. The decline is attributed to market volatility tied to tariff concerns, along with domestic instability. While the US believes the talks are 'very successful,' officials in South Korea are racing to Fast-track the deal. India closes in on a trade deal While South Korea negotiates tariff relief, India is on track to become the first country to finalise a bilateral trade agreement under the new policy framework. This was confirmed by the treasury secretary, Scott Bessent. US officials have reportedly praised India's low tariffs and absence of currency manipulation for enabling smooth negotiations. India's finance minister, Nirmala Sitharaman, has also expressed optimism, stating that India hopes to conclude the first phase of the deal by fall.

South Korea proposes 'July Package' to avoid tariffs

The US has imposed new port fees on vessels operated and built by China. This comes after President Donald Trump levied the heftiest tax on Beijing. Trump has slammed a 245% tariff on China. And the new fee is an attempt to reduce China's dominance in the sector and elevate America's position with this move.
Also read: <a href="https://www.wionews.com/world/nvidia-ceo-in-beijing-is-the-tech-giant-finding-ways-to-keep-a-presence-in-china-after-us-bans-ai-chips-export-8973443">Nvidia CEO in Beijing: Is the tech giant finding ways to keep a presence in China after US bans AI chips export?</a>
Foreign Ministry spokesperson Lin Jian was quoted in news outlet Global Times, "I would like to reiterate that imposing port fees and additional tariffs on cargo handling equipment harm the interests of both others and itself. It raises global shipping costs, disrupts supply chain stability, and increases inflationary pressures in the US, ultimately harming American consumers and businesses, without revitalising the US shipbuilding industry."
"We urge the US side to respect the facts and multilateral rules, immediately cease its wrongdoings. China will take necessary measures to firmly safeguard its legitimate rights and interests," Lin added.
Also read: <a href="https://www.wionews.com/world/is-china-again-conspiring-against-taiwan-beijings-secret-nuclear-submarines-spotted-near-taiwan-on-google-maps-8972225">Is China again conspiring against Taiwan? Beijing's secret nuclear submarines spotted near Taiwan on Google maps</a>
On Thursday (Apr 18), United States Trade Representative (USTR) issued a statement which mentioned, "USTR took targeted action to restore American shipbuilding and address China&rsquo;s unreasonable acts, policies, and practices to dominate the maritime, logistics, and shipbuilding sectors. These responsive actions come after a year-long Section 301 investigation."
Ambassador Greer further highlighted, "Ships and shipping are vital to American economic security and the free flow of commerce. The Trump administration&rsquo;s actions will begin to reverse Chinese dominance, address threats to the U.S. supply chain, and send a demand signal for U.S.-built ships."

The US has imposed new port fees on vessels operated and built by China. This comes after President Donald Trump levied the heftiest tax on Beijing. World

The US has imposed new port fees on vessels operated and built by China. This comes after President Donald Trump levied the heftiest tax on Beijing. Trump has slammed a 245% tariff on China. And the new fee is an attempt to reduce China's dominance in the sector and elevate America's position with this move. Also read: Nvidia CEO in Beijing: Is the tech giant finding ways to keep a presence in China after US bans AI chips export? Foreign Ministry spokesperson Lin Jian was quoted in news outlet Global Times, "I would like to reiterate that imposing port fees and additional tariffs on cargo handling equipment harm the interests of both others and itself. It raises global shipping costs, disrupts supply chain stability, and increases inflationary pressures in the US, ultimately harming American consumers and businesses, without revitalising the US shipbuilding industry." "We urge the US side to respect the facts and multilateral rules, immediately cease its wrongdoings. China will take necessary measures to firmly safeguard its legitimate rights and interests," Lin added. Also read: Is China again conspiring against Taiwan? Beijing's secret nuclear submarines spotted near Taiwan on Google maps On Thursday (Apr 18), United States Trade Representative (USTR) issued a statement which mentioned, "USTR took targeted action to restore American shipbuilding and address China’s unreasonable acts, policies, and practices to dominate the maritime, logistics, and shipbuilding sectors. These responsive actions come after a year-long Section 301 investigation." Ambassador Greer further highlighted, "Ships and shipping are vital to American economic security and the free flow of commerce. The Trump administration’s actions will begin to reverse Chinese dominance, address threats to the U.S. supply chain, and send a demand signal for U.S.-built ships."

'Cease wrongdoings': Beijing slams US' port fee plan for Chinese ships

US President Donald Trump's tariff-imposing spree sees one twist after another. In the latest, China has been slapped with 145%, and then there are a few exemptions.
Also read: <a href="https://www.wionews.com/world/trump-says-car-companies-need-time-looking-to-help-some-auto-stocks-rise-8962349">Trump says &lsquo;car companies need time, looking to help some&rsquo;; auto stocks rise</a>
Smartphones, laptops, flash drives, and other tech products have been exempt from the hefty taxes that Trump announced on April 2. This decision is a massive relief for US companies relying on Chinese technology. Stocks of companies like Apple and Nvidia shot up after this announcement.
Apple, the parent company of iPhones, iPads and more, is one of many US firms that are in a risky position as most of the products are assembled in China. Foxconn, which is Apple's local partner, facilitates this process seamlessly. About 80% of Apple's products are produced in China.
<h3>Product to bear the brunt:</h3>
Computers, disc drives, laptops, and automatic data processing equipment are not produced in the US, and that increases the dependency on China. The list of things that the US relies on China for includes smartphones, memory cards, semiconductor devices, solar cells, modems, routers and flat-panel displays. These products are now exempted from harsh tariffs.
Also read: <a href="https://www.wionews.com/world/the-trump-effect-in-action-nvidia-to-manufacture-ai-chips-in-us-as-trump-plans-to-announce-semiconductor-tariffs-8962326">&lsquo;The Trump Effect in action&rsquo;: Nvidia to manufacture AI chips in US as Trump plans to announce &lsquo;semiconductor tariffs&rsquo;</a>
Trump has been imposing tariffs on left, right, and centre. This will affect goods worth millions of dollars entering the country. Will this add to the woes of Americans? So far, Trump has imposed taxes ranging from 10% to 50%, the latter is for 'worst offenders'.
Canada and Mexico have currently been exempted from these scathing tariffs, though they, along with China, are already paying taxes on select products.
This isn't the end yet, the land of penguins and seals are also on the list.

US President Donald Trump's tariff-imposing spree sees one twist after another. In the latest, China has been slapped with 145%, and then there are a few exemptions. World

US President Donald Trump's tariff-imposing spree sees one twist after another. In the latest, China has been slapped with 145%, and then there are a few exemptions. Also read: Trump says ‘car companies need time, looking to help some’; auto stocks rise Smartphones, laptops, flash drives, and other tech products have been exempt from the hefty taxes that Trump announced on April 2. This decision is a massive relief for US companies relying on Chinese technology. Stocks of companies like Apple and Nvidia shot up after this announcement. Apple, the parent company of iPhones, iPads and more, is one of many US firms that are in a risky position as most of the products are assembled in China. Foxconn, which is Apple's local partner, facilitates this process seamlessly. About 80% of Apple's products are produced in China. Product to bear the brunt: Computers, disc drives, laptops, and automatic data processing equipment are not produced in the US, and that increases the dependency on China. The list of things that the US relies on China for includes smartphones, memory cards, semiconductor devices, solar cells, modems, routers and flat-panel displays. These products are now exempted from harsh tariffs. Also read: ‘The Trump Effect in action’: Nvidia to manufacture AI chips in US as Trump plans to announce ‘semiconductor tariffs’ Trump has been imposing tariffs on left, right, and centre. This will affect goods worth millions of dollars entering the country. Will this add to the woes of Americans? So far, Trump has imposed taxes ranging from 10% to 50%, the latter is for 'worst offenders'. Canada and Mexico have currently been exempted from these scathing tariffs, though they, along with China, are already paying taxes on select products. This isn't the end yet, the land of penguins and seals are also on the list.

Trump waives off tariffs on THESE 'Chinese' products

As global financial markets spiralled, <a href="https://www.wionews.com/world/deep-state-is-real-us-health-chief-rfk-jr-pushes-conspiracy-claims-says-media-thinks-trump-is-paranoid-8955037" rel="dofollow noopener" target="_blank">Donald Trump</a> retreated, not to the White House, but to his Florida golf course, before finally bowing to pressure and softening his tough trade tariffs.
Between those events, Trump had kept a low profile, spending his time golfing, dining with donors, and brushing off the economic unrest. &ldquo;This is a great time to get rich,&rdquo; he reportedly said, even as the US economy faced serious trouble.
<h2>April 'Liberation Day'</h2>
Trump declared 2 April as &ldquo;liberation day&rdquo;, standing in the White House Rose Garden and announcing wide-reaching tariffs on dozens of countries. 
According to The Washington Post, Trump made his final decision on the tariffs just hours before the announcement. &ldquo;He&rsquo;s at the peak of just not giving a fuck any more,&rdquo; said someone close to his inner circle. &ldquo;Bad news stories? Doesn&rsquo;t give a fuck. He&rsquo;s going to do what he&rsquo;s going to do. He&rsquo;s going to do what he promised to do on the campaign trail.&rdquo;
Also read: <a href="https://www.wionews.com/world/donald-trumps-tariff-us-republican-president-william-mckinley-8951663" rel="dofollow noopener" target="_blank">Donald Trump's tariff crusade isn't new: Meet his idol who did it first and regretted it</a>
<h2>Off to Florida as markets crash</h2>
The next day, as markets bled trillions of dollars, Trump boarded Air Force One to Miami and headed straight to a Saudi-backed LIV Golf event at his Doral resort, chauffeured by his son Eric in a golf cart.
He spent Friday at Mar-a-Lago, wearing his red &ldquo;Make America Great Again&rdquo; cap, before heading to his golf club. Online, he defended his approach. &ldquo;TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,&rdquo; he wrote on Truth Social.
Back in Washington, the bodies of four US soldiers killed in a training exercise in Lithuania were returned to American soil. Trump stayed in Florida, sending Defence Secretary Pete Hegseth to Dover Air Force Base in his place. That evening, Trump attended a candlelit dinner for Maga Inc., reportedly charging $1 million per plate.
On Saturday, Trump played another round of golf, this time at his family&rsquo;s Jupiter course. An official White House note followed, &ldquo;The president won his second-round matchup of the senior club championship today in Jupiter, Fla., and advances to the championship round on Sunday.&rdquo;
Also read: <a href="https://www.wionews.com/world/zero-tariff-war-on-electronics-semiconductors-us-president-donald-trump-exempts-phones-computers-and-chips-from-reciprocal-tariffs-8955379" rel="dofollow noopener" target="_blank">ZERO tariff on electronics? Trump exempts phones, computers and chips from reciprocal tariffs</a>
As Sunday arrived, while members of his cabinet scrambled to manage the growing fallout on TV, Trump played through, ignoring the turmoil. His aides gave mixed messages, some said the tariffs were non-negotiable, and others hinted at flexibility.
<h2>A lavish dinner and a last-minute U-turn</h2>
Back in Washington, Trump faced increasing criticism, including from his own Republican allies and major business leaders, urging him to change course before the economy collapsed further. But his first public appearance was celebratory: welcoming the LA Dodgers to the White House and receiving a &ldquo;Trump 47&rdquo; jersey.
At a black-tie dinner that evening, Trump was defiant. &ldquo;I know what the hell I&rsquo;m doing,&rdquo; he told donors. He insisted the tariffs were working. &ldquo;I&rsquo;m telling you, these countries are calling us up, kissing my ass. They are. They are dying to make a deal.&rdquo;
But the next day, Trump stepped back. On Truth Social, he announced a 90-day pause on some tariffs, giving space for negotiations while still pushing ahead with others targeting China.
Watch: <a href="https://www.wionews.com/world/trump-to-declare-martial-law-what-is-insurrection-act-of-1807-and-rumours-circulating-about-it-8955581" rel="dofollow noopener" target="_blank">Trump to declare martial law? What is Insurrection Act of 1807 and rumours circulating about it</a>
<h2>'A mad king'</h2>
&ldquo;He&rsquo;s certainly living up to the caricature of being a mad king,&rdquo; Democratic strategist Kurt Bardella told The Guardian.
&ldquo;When you&rsquo;re addressing a ballroom in a tuxed
o, telling people to take the painful medicine, or on your umpteenth golf vacation while economic chaos is rippling throughout this country and others, at best you&rsquo;re completely out of touch," he added.
&ldquo;At worst, you&rsquo;re a sociopathic narcissist who doesn&rsquo;t give a crap about anyone suffering. Ultimately, there will be a political price to pay for that,&rdquo; Bardella said.
(With inputs from agencies)

World: Trump declared 2 April as “liberation day”, standing in the White House Rose Garden and announcing wide-reaching tariffs on dozens of countries.

As global financial markets spiralled, Donald Trump retreated, not to the White House, but to his Florida golf course, before finally bowing to pressure and softening his tough trade tariffs. Between those events, Trump had kept a low profile, spending his time golfing, dining with donors, and brushing off the economic unrest. “This is a great time to get rich,” he reportedly said, even as the US economy faced serious trouble. April 'Liberation Day' Trump declared 2 April as “liberation day”, standing in the White House Rose Garden and announcing wide-reaching tariffs on dozens of countries. According to The Washington Post, Trump made his final decision on the tariffs just hours before the announcement. “He’s at the peak of just not giving a fuck any more,” said someone close to his inner circle. “Bad news stories? Doesn’t give a fuck. He’s going to do what he’s going to do. He’s going to do what he promised to do on the campaign trail.” Also read: Donald Trump's tariff crusade isn't new: Meet his idol who did it first and regretted it Off to Florida as markets crash The next day, as markets bled trillions of dollars, Trump boarded Air Force One to Miami and headed straight to a Saudi-backed LIV Golf event at his Doral resort, chauffeured by his son Eric in a golf cart. He spent Friday at Mar-a-Lago, wearing his red “Make America Great Again” cap, before heading to his golf club. Online, he defended his approach. “TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,” he wrote on Truth Social. Back in Washington, the bodies of four US soldiers killed in a training exercise in Lithuania were returned to American soil. Trump stayed in Florida, sending Defence Secretary Pete Hegseth to Dover Air Force Base in his place. That evening, Trump attended a candlelit dinner for Maga Inc., reportedly charging $1 million per plate. On Saturday, Trump played another round of golf, this time at his family’s Jupiter course. An official White House note followed, “The president won his second-round matchup of the senior club championship today in Jupiter, Fla., and advances to the championship round on Sunday.” Also read: ZERO tariff on electronics? Trump exempts phones, computers and chips from reciprocal tariffs As Sunday arrived, while members of his cabinet scrambled to manage the growing fallout on TV, Trump played through, ignoring the turmoil. His aides gave mixed messages, some said the tariffs were non-negotiable, and others hinted at flexibility. A lavish dinner and a last-minute U-turn Back in Washington, Trump faced increasing criticism, including from his own Republican allies and major business leaders, urging him to change course before the economy collapsed further. But his first public appearance was celebratory: welcoming the LA Dodgers to the White House and receiving a “Trump 47” jersey. At a black-tie dinner that evening, Trump was defiant. “I know what the hell I’m doing,” he told donors. He insisted the tariffs were working. “I’m telling you, these countries are calling us up, kissing my ass. They are. They are dying to make a deal.” But the next day, Trump stepped back. On Truth Social, he announced a 90-day pause on some tariffs, giving space for negotiations while still pushing ahead with others targeting China. Watch: Trump to declare martial law? What is Insurrection Act of 1807 and rumours circulating about it 'A mad king' “He’s certainly living up to the caricature of being a mad king,” Democratic strategist Kurt Bardella told The Guardian. “When you’re addressing a ballroom in a tuxed o, telling people to take the painful medicine, or on your umpteenth golf vacation while economic chaos is rippling throughout this country and others, at best you’re completely out of touch," he added. “At worst, you’re a sociopathic narcissist who doesn’t give a crap about anyone suffering. Ultimately, there will be a political price to pay for that,” Bardella said. (With inputs from agencies)

'Peak of not giving f**k anymore': What ‘mad king’ Trump did as global economy tanked - Golf, galas and $1M dinners

President of the European Commission Ursula von der Leyen said that the bloc will adopt countermeasures and plans to keep it on hold for now, 'to give negotiations a chance...if&nbsp;negotiations are not satisfactory, our countermeasures will kick in' after Trump's U-turn on the matter. On Wednesday, the European nations gave a go-ahead to the list of measures to target American products. This was in response to the taxes levied on steel and aluminium exports.
Also read: <a href="https://www.wionews.com/world/wtf-whos-in-charge-us-trade-representative-unaware-of-trumps-90-day-tariff-pause-irked-democrats-react-8947942">'WTF! Who&rsquo;s in charge?': US trade representative unaware of Trump's '90-day tariff pause'; irked Democrats react</a>
Trump, after going on a spree of imposing tariffs, has suddenly decided to apply the brakes. In his recent post on Truth Social read: &ldquo;More than 75 countries have contacted U.S. representatives, and, at my strong urging, have not retaliated in any way, shape, or form."&nbsp;
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m9bd114e-z46xg20t-ojqc03rv">
I welcome President Trump&rsquo;s announcement to pause reciprocal tariffs. It&rsquo;s an important step towards stabilizing the global economy. Clear, predictable conditions are essential for trade and supply chains to function. Tariffs are taxes that only hurt businesses and consumers.&hellip;
&mdash; Ursula von der Leyen (@vonderleyen) <a href="https://twitter.com/vonderleyen/status/1910216093651632569?ref_src=twsrc%5Etfw">April 10, 2025</a></blockquote>
He added, "In light of this, I have authorized a 90-day PAUSE and a significantly reduced reciprocal tariff of 10% during this period, effective immediately. Thank you for your attention to this matter!&rdquo;
Also read: <a href="https://www.wionews.com/world/trump-tariff-on-seals-and-penguins-donald-trump-slams-earths-remotest-region-with-10-per-cent-tax-8919749">Tariff on seals and penguins? Donald Trump slaps Earth's remotest region with 10% tax</a>
After this massive U-turn the EU chief, also took to her social media account to write, "I welcome President Trump&rsquo;s announcement to pause reciprocal tariffs. It&rsquo;s an important step towards stabilizing the global economy. Tariffs are taxes that only hurt businesses and consumers. That&rsquo;s why I&rsquo;ve consistently advocated for a zero-for-zero tariff agreement between the European Union and the United States."
She added,"We took note of the announcement by President Trump. We want to give negotiations a chance. While finalising the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days. If negotiations are not satisfactory, our countermeasures will kick in. Preparatory work on further countermeasures continues. As I have said before, all options remain on the table."

President of the European Commission Ursula von der Leyen said that the bloc will adopt countermeasures and plans to keep it on hold for now, 'to give negotiations a chance.' World

President of the European Commission Ursula von der Leyen said that the bloc will adopt countermeasures and plans to keep it on hold for now, 'to give negotiations a chance...if negotiations are not satisfactory, our countermeasures will kick in' after Trump's U-turn on the matter. On Wednesday, the European nations gave a go-ahead to the list of measures to target American products. This was in response to the taxes levied on steel and aluminium exports. Also read: 'WTF! Who’s in charge?': US trade representative unaware of Trump's '90-day tariff pause'; irked Democrats react Trump, after going on a spree of imposing tariffs, has suddenly decided to apply the brakes. In his recent post on Truth Social read: “More than 75 countries have contacted U.S. representatives, and, at my strong urging, have not retaliated in any way, shape, or form." I welcome President Trump’s announcement to pause reciprocal tariffs. It’s an important step towards stabilizing the global economy. Clear, predictable conditions are essential for trade and supply chains to function. Tariffs are taxes that only hurt businesses and consumers.… — Ursula von der Leyen (@vonderleyen) April 10, 2025 He added, "In light of this, I have authorized a 90-day PAUSE and a significantly reduced reciprocal tariff of 10% during this period, effective immediately. Thank you for your attention to this matter!” Also read: Tariff on seals and penguins? Donald Trump slaps Earth's remotest region with 10% tax After this massive U-turn the EU chief, also took to her social media account to write, "I welcome President Trump’s announcement to pause reciprocal tariffs. It’s an important step towards stabilizing the global economy. Tariffs are taxes that only hurt businesses and consumers. That’s why I’ve consistently advocated for a zero-for-zero tariff agreement between the European Union and the United States." She added,"We took note of the announcement by President Trump. We want to give negotiations a chance. While finalising the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days. If negotiations are not satisfactory, our countermeasures will kick in. Preparatory work on further countermeasures continues. As I have said before, all options remain on the table."

Europe halts countermeasures plan against US for 90 days after Trump's tariff U-turn

US President Donald Trump's trade tariffs have spread far and wide across the globe. From 10% to as high as 49%, the tariff war is unsparing; it hasn't left even the farthest end of Antarctica. So, is he targeting seals and penguins? But this has given rise to a meme fest, netizens have come all guns blazing against the Trump tariff - that's how it is being recognised.
Tariffs and reciprocal tariffs is what is bringing out all the creativity there is on the internet. Some memes show Trump introducing tariffs for the planets. Another sees it as a self-goal by the President.
<h2>Here are a few memes that are doing the rounds:</h2>
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m98i6fvw-iswrrhoe-mwg9k65p">
Global Economy after Trump Tariffs<a href="https://twitter.com/hashtag/stockmarketcrash?src=hash&amp;ref_src=twsrc%5Etfw">#stockmarketcrash</a> <a href="https://t.co/A9qFrCDfCv">pic.twitter.com/A9qFrCDfCv</a>
&mdash; Xavier Uncle (@xavierunclelite) <a href="https://twitter.com/xavierunclelite/status/1909118295027875930?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote>
<h2>Another perspective on Trump's strategy:</h2>
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m98i7kn8-phx2qu3e-t1buq5o8">
Trump&rsquo;s tariff strategy <a href="https://t.co/GvB0UeAPCI">pic.twitter.com/GvB0UeAPCI</a>
&mdash; BuccoCapital Bloke (@buccocapital) <a href="https://twitter.com/buccocapital/status/1907411106768773287?ref_src=twsrc%5Etfw">April 2, 2025</a></blockquote>
<h2>Let's see who is winning this one:</h2>
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m98i8b2w-4t9oltzm-ltgi3sxc">
The European Union has agreed to impose tariffs on $28 billion worth of U.S. imports as a countermeasure to the Trump regime's tariffs. <a href="https://t.co/MNTmw42ay7">pic.twitter.com/MNTmw42ay7</a>
&mdash; Anonymous (@YourAnonCentral) <a href="https://twitter.com/YourAnonCentral/status/1909045356165533783?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote>
<h2>Narnia, Mars, Hogwarts &ndash; all on Trump's list of tariffs:</h2>
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m98i95od-40gysrr8-y9uu6ur6">
These Trump tariffs are getting out of hand. <a href="https://twitter.com/hashtag/TrumpTariffs?src=hash&amp;ref_src=twsrc%5Etfw">#TrumpTariffs</a> <a href="https://t.co/DXtA7rcXCo">pic.twitter.com/DXtA7rcXCo</a>
&mdash; Jon Cooper 🇺🇸 (@joncoopertweets) <a href="https://twitter.com/joncoopertweets/status/1907763294246518958?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<h2>Runway reimagined:</h2>
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m98ia43a-xnqrf2of-cqzdfquu">
Runway of Tariffs Made in a single day using: Images &ndash; GPT-4o Image Gen Video &ndash; <a href="https://twitter.com/LumaLabsAI?ref_src=twsrc%5Etfw">@LumaLabsAI</a> Global trade has never looked this good. <a href="https://t.co/BhlF3W0TBk">pic.twitter.com/BhlF3W0TBk</a>
&mdash; InterdimensionalTV (@n_reruns) <a href="https://twitter.com/n_reruns/status/1909281614896726349?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote>
Unsparing could probably be the apt word to describe US President Donald Trump's tariffs. As these are now being levied even on the world's remotest region &ndash; a place ruled by penguins, seals, and birds. Heard and McDonald Islands &ndash; the icy archipelago does not have a single human on the land, and the last time people visited is believed to be about a decade ago. Not like the internet is sparing Trump either, ever since he assumed office for his second term, he has been out there signing orders and attacking with tariffs. Netizens are using creative expressions to hit back at everything they find bizarre.
&nbsp;

Donald Trump's trade tariffs have spread far and wide globally. From 10% to as high as 49%, the tariff war is unsparing; it hasn't left even the farthest end of Antarctica. Trending

US President Donald Trump's trade tariffs have spread far and wide across the globe. From 10% to as high as 49%, the tariff war is unsparing; it hasn't left even the farthest end of Antarctica. So, is he targeting seals and penguins? But this has given rise to a meme fest, netizens have come all guns blazing against the Trump tariff - that's how it is being recognised. Tariffs and reciprocal tariffs is what is bringing out all the creativity there is on the internet. Some memes show Trump introducing tariffs for the planets. Another sees it as a self-goal by the President. Here are a few memes that are doing the rounds: Global Economy after Trump Tariffs#stockmarketcrash pic.twitter.com/A9qFrCDfCv — Xavier Uncle (@xavierunclelite) April 7, 2025 Another perspective on Trump's strategy: Trump’s tariff strategy pic.twitter.com/GvB0UeAPCI — BuccoCapital Bloke (@buccocapital) April 2, 2025 Let's see who is winning this one: The European Union has agreed to impose tariffs on $28 billion worth of U.S. imports as a countermeasure to the Trump regime's tariffs. pic.twitter.com/MNTmw42ay7 — Anonymous (@YourAnonCentral) April 7, 2025 Narnia, Mars, Hogwarts – all on Trump's list of tariffs: These Trump tariffs are getting out of hand. #TrumpTariffs pic.twitter.com/DXtA7rcXCo — Jon Cooper 🇺🇸 (@joncoopertweets) April 3, 2025 Runway reimagined: Runway of Tariffs Made in a single day using: Images – GPT-4o Image Gen Video – @LumaLabsAI Global trade has never looked this good. pic.twitter.com/BhlF3W0TBk — InterdimensionalTV (@n_reruns) April 7, 2025 Unsparing could probably be the apt word to describe US President Donald Trump's tariffs. As these are now being levied even on the world's remotest region – a place ruled by penguins, seals, and birds. Heard and McDonald Islands – the icy archipelago does not have a single human on the land, and the last time people visited is believed to be about a decade ago. Not like the internet is sparing Trump either, ever since he assumed office for his second term, he has been out there signing orders and attacking with tariffs. Netizens are using creative expressions to hit back at everything they find bizarre.

Hogwarts to Narnia all on the list: Trump tariff initiates meme fest

Efforts by Vietnam to delay sweeping new US tariffs have been rejected by a top adviser to President Donald Trump. Trump's trade advisor said, "This is not a negotiation, this is a national emergency based on a trade deficit."
<h2>Vietnam offers zero tariffs</h2>
On Sunday, Vietnam&rsquo;s Deputy Prime Minister Bui Thanh Son met with US Ambassador Marc E. Knapper and said that the country is willing to drop tariffs on American goods to zero. They hoped that it would help postpone the 46% reciprocal tariffs set to hit Vietnamese imports.
Also read: <a href="https://www.wionews.com/world/donald-trump-threatens-china-with-50-tariffs-if-beijing-doesnt-drop-retaliatory-tariffs-by-april-8-8936490" rel="dofollow noopener" target="_blank">'Any country that retaliates..': Trump threatens China with 50% tariffs if Beijing doesn't back down</a>
"Vietnam is ready to negotiate to bring the import tariff rate to 0% for US goods, increase procurement of US products that are strong and in demand by Vietnam, and at the same time create more favourable conditions for US enterprises to do business and invest in Vietnam," said a government dispatch on the meeting.
The Vietnamese side also asked for a delay to the new tariffs, which are due to come into force on April 9. In a letter addressed to Trump, President To Lam proposed a 45-day postponement to allow for continued talks.
Also read: <a href="https://www.wionews.com/world/donald-trump-weighing-90-day-tariff-pause-for-all-but-china-white-house-calls-it-false-8936416" rel="dofollow noopener" target="_blank">&lsquo;Led by a clownshow&rsquo;: Report claims Trump weighing 90-day tariff pause for all but China; White House calls it &lsquo;false&rsquo;</a>
<h2>US says no deal</h2>
But later that day, White House trade adviser Peter Navarro shot down the idea. Speaking to Fox News, Navarro said, &ldquo;This is not a negotiation, this is a national emergency based on a trade deficit that's gotten out of control because of cheating.&rdquo;
He described Vietnam as the "poster child for nontariff cheating" and argued that even with tariff reductions, the trade gap would remain enormous.
Also read: <a href="https://www.wionews.com/world/japan-pm-shigeru-ishiba-calls-trump-asks-for-review-of-tariffs-more-talks-8936024" rel="dofollow noopener" target="_blank">Japan PM Shigeru Ishiba calls Trump, asks for review of tariffs, more talks</a>
According to US data, America currently has a $123.5 billion trade deficit with Vietnam. In 2024, US exports to Vietnam totalled $13.1 billion, compared to $136.6 billion in imports.
&ldquo;If you simply lowered our tariffs and they lowered our tariffs to zero, we'd still run about a $120 billion trade deficit with Vietnam,&rdquo; Navarro said.
He accused the country of relabelling Chinese goods as Vietnamese and using unfair tactics such as export subsidies, currency manipulation and fake standards to keep U.S. products out of Asian markets.
President Trump, meanwhile, has described his recent exchange with President Lam as &ldquo;very productive&rdquo; and voiced interest in meeting him soon.
Also read: <a href="https://www.wionews.com/world/mexico-does-not-rule-out-reciprocal-tariffs-on-us-goods-says-president-claudia-sheinbaum-8936556" rel="dofollow noopener" target="_blank">Mexico &lsquo;does not rule out&rsquo; reciprocal tariffs on US goods, says President Claudia Sheinbaum</a>
In his letter, Lam requested a personal meeting with Trump in May, writing that it would help reach an agreement that benefits both nations and supports &ldquo;peace, stability and development in the region and the world,&rdquo; according to the New York Times.
(With inputs from agencies)

World: Vietnam’s Deputy Prime Minister Bui Thanh Son met with US Ambassador Marc E. Knapper and said that the country is willing to drop tariffs on American goods to zero.

Efforts by Vietnam to delay sweeping new US tariffs have been rejected by a top adviser to President Donald Trump. Trump's trade advisor said, "This is not a negotiation, this is a national emergency based on a trade deficit." Vietnam offers zero tariffs On Sunday, Vietnam’s Deputy Prime Minister Bui Thanh Son met with US Ambassador Marc E. Knapper and said that the country is willing to drop tariffs on American goods to zero. They hoped that it would help postpone the 46% reciprocal tariffs set to hit Vietnamese imports. Also read: 'Any country that retaliates..': Trump threatens China with 50% tariffs if Beijing doesn't back down "Vietnam is ready to negotiate to bring the import tariff rate to 0% for US goods, increase procurement of US products that are strong and in demand by Vietnam, and at the same time create more favourable conditions for US enterprises to do business and invest in Vietnam," said a government dispatch on the meeting. The Vietnamese side also asked for a delay to the new tariffs, which are due to come into force on April 9. In a letter addressed to Trump, President To Lam proposed a 45-day postponement to allow for continued talks. Also read: ‘Led by a clownshow’: Report claims Trump weighing 90-day tariff pause for all but China; White House calls it ‘false’ US says no deal But later that day, White House trade adviser Peter Navarro shot down the idea. Speaking to Fox News, Navarro said, “This is not a negotiation, this is a national emergency based on a trade deficit that's gotten out of control because of cheating.” He described Vietnam as the "poster child for nontariff cheating" and argued that even with tariff reductions, the trade gap would remain enormous. Also read: Japan PM Shigeru Ishiba calls Trump, asks for review of tariffs, more talks According to US data, America currently has a $123.5 billion trade deficit with Vietnam. In 2024, US exports to Vietnam totalled $13.1 billion, compared to $136.6 billion in imports. “If you simply lowered our tariffs and they lowered our tariffs to zero, we'd still run about a $120 billion trade deficit with Vietnam,” Navarro said. He accused the country of relabelling Chinese goods as Vietnamese and using unfair tactics such as export subsidies, currency manipulation and fake standards to keep U.S. products out of Asian markets. President Trump, meanwhile, has described his recent exchange with President Lam as “very productive” and voiced interest in meeting him soon. Also read: Mexico ‘does not rule out’ reciprocal tariffs on US goods, says President Claudia Sheinbaum In his letter, Lam requested a personal meeting with Trump in May, writing that it would help reach an agreement that benefits both nations and supports “peace, stability and development in the region and the world,” according to the New York Times. (With inputs from agencies)

'Poster child for nontariff cheating': Trump team rejects Vietnam’s desperate bid to dodge brutal tariffs

Multiple media reports on Monday (April 07) claimed that US President <a href="https://www.wionews.com/world/bangladeshs-yunus-pleads-with-trump-to-pause-tariffs-for-3-months-what-is-india-doing-8935878">Donald Trump</a> was considering a 90-day pause on tariffs for all countries except China, but the White House quickly labelled the story &ldquo;false&rdquo;.
The news, initially reported by Bloomberg, appeared to contradict comments made by top White House trade adviser Peter Navarro earlier the same day.
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m977ek97-hxsa4his-by273kjt">
Wrong. Fake News. <a href="https://t.co/XOLyli5AOS">https://t.co/XOLyli5AOS</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1909254710361575428?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote>
A user on X posted, &ldquo;Trump is now considering a 90-day pause in tariffs for all countries except China, according to Bloomberg. What a sh-tshow! Peter Navarro was literally on multiple shows this morning saying the opposite. Looks like Trump may have realised that this mess is terrible for the economy. The uncertainty will still hurt us all though.&rdquo;
Also read: <a href="https://www.wionews.com/world/bangladeshs-yunus-pleads-with-trump-to-pause-tariffs-for-3-months-what-is-india-doing-8935878" rel="dofollow noopener" target="_blank">&lsquo;We support your agenda&rsquo;: Bangladesh&rsquo;s Yunus pleads with Trump to pause tariffs for 3 months. What is India doing?</a>
In a follow-up post, the same user added, &ldquo;Now reports indicate that this may not be true, and there may not be a 90-day pause. The market is now back down, and more chaos continues. What an utter mess. I feel we are being led by a clownshow.&rdquo;
<h2>China will have to change</h2>
President Trump continued to target China on Monday, calling it &ldquo;the biggest abuser of them all.&rdquo;
Also read: <a href="https://www.wionews.com/world/bangladeshs-yunus-pleads-with-trump-to-pause-tariffs-for-3-months-what-is-india-doing-8935878" rel="dofollow noopener" target="_blank">&lsquo;We support your agenda&rsquo;: Bangladesh&rsquo;s Yunus pleads with Trump to pause tariffs for 3 months. What is India doing?</a>
On Truth Social, Trump wrote, &ldquo;Countries from all over the World are talking to us. Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don&rsquo;t take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other &lsquo;things.&rsquo; It all has to change, but especially with CHINA!!!&rdquo;
Also read: <a href="https://www.wionews.com/world/donald-trump-calls-china-biggest-abuser-as-markets-crash-tariffs-beijing-8935566" rel="dofollow noopener" target="_blank">&lsquo;Didn&rsquo;t heed my warning&rsquo;: Trump calls China &lsquo;biggest abuser&rsquo; as markets crash; Beijing slams US &lsquo;bullying&rsquo;</a>
He also criticised Beijing for retaliating with new tariffs, &ldquo;Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place. This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate.&rdquo;
(With inputs from agencies)

World: US President Trump continued to target China on Monday, calling it “the biggest abuser of them all,” adding in a separate post, "It all has to change."

Multiple media reports on Monday (April 07) claimed that US President Donald Trump was considering a 90-day pause on tariffs for all countries except China, but the White House quickly labelled the story “false”. The news, initially reported by Bloomberg, appeared to contradict comments made by top White House trade adviser Peter Navarro earlier the same day. Wrong. Fake News. https://t.co/XOLyli5AOS — Rapid Response 47 (@RapidResponse47) April 7, 2025 A user on X posted, “Trump is now considering a 90-day pause in tariffs for all countries except China, according to Bloomberg. What a sh-tshow! Peter Navarro was literally on multiple shows this morning saying the opposite. Looks like Trump may have realised that this mess is terrible for the economy. The uncertainty will still hurt us all though.” Also read: ‘We support your agenda’: Bangladesh’s Yunus pleads with Trump to pause tariffs for 3 months. What is India doing? In a follow-up post, the same user added, “Now reports indicate that this may not be true, and there may not be a 90-day pause. The market is now back down, and more chaos continues. What an utter mess. I feel we are being led by a clownshow.” China will have to change President Trump continued to target China on Monday, calling it “the biggest abuser of them all.” Also read: ‘We support your agenda’: Bangladesh’s Yunus pleads with Trump to pause tariffs for 3 months. What is India doing? On Truth Social, Trump wrote, “Countries from all over the World are talking to us. Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other ‘things.’ It all has to change, but especially with CHINA!!!” Also read: ‘Didn’t heed my warning’: Trump calls China ‘biggest abuser’ as markets crash; Beijing slams US ‘bullying’ He also criticised Beijing for retaliating with new tariffs, “Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place. This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate.” (With inputs from agencies)

‘Led by a clownshow’: Report claims Trump weighing 90-day tariff pause for all but China; White House calls it ‘false’

US President <a href="https://www.wionews.com/world/trump-tariffs-global-stock-market-update-latest-asian-indian-freefall-us-recession-trade-war-reciprocal-tariffs-8935169" rel="dofollow noopener" target="_blank">Donald Trump</a> launched a fresh attack on China on Monday (April 7), labelling it &ldquo;the biggest abuser&rdquo; of tariffs. Trump's comments come as European and Asian markets crash due to the impact of his sweeping tariffs announced on Wednesday.
In a post on Truth Social, Trump defended the sweeping tariffs he announced last week, which have shaken markets across Europe and Asia. He claimed the US was finally collecting &ldquo;billions of dollars a week&rdquo; from what he described as &ldquo;abusing countries.&rdquo;
&ldquo;Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION,&rdquo; Trump wrote.
&ldquo;The long-time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place. This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long-term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate,&rdquo; he said.
Also read: <a href="https://www.wionews.com/world/trump-tariffs-global-stock-market-update-latest-asian-indian-freefall-us-recession-trade-war-reciprocal-tariffs-8935169" rel="dofollow noopener" target="_blank">Blood on the trading floor: Trump tariff 'medicine' makes global markets sick with selloff fever</a>
Trump went on to blame past American leaders for allowing other nations to exploit the US economically.
&ldquo;They&rsquo;ve made enough, for decades, taking advantage of the Good OL&rsquo; USA! Our past 'leaders' are to blame for allowing this, and so much else, to happen to our Country. MAKE AMERICA GREAT AGAIN!" he added.
<h2>China responds with sharp rebuke</h2>
Earlier on Monday, during a press briefing, Chinese foreign ministry spokesperson Lin Jian criticised Trump&rsquo;s tariff measures as &ldquo;bullying&rdquo; and warned against the use of threats and pressure.
Also read: <a href="https://www.wionews.com/world/china-on-tariffs-us-seeking-hegemony-in-the-name-of-reciprocity-in-trade-war-8934616" rel="dofollow noopener" target="_blank">China on tariffs: 'US seeking hegemony in the name of reciprocity in trade war'</a>
&ldquo;The tariffs are typical unilateralism and protectionism, and economic bullying,&rdquo; Lin said.
He described the US tariff strategy, framed as &ldquo;reciprocal,&rdquo; as a self-serving move that harms other nations, especially developing countries.
&ldquo;The abuse of tariffs by the United States is tantamount to depriving countries, especially those in the Global South, of their right to development,&rdquo; Lin added.
He also pointed to growing inequality within and between countries, blaming the United States for deepening the divide.
Also read: <a href="https://www.wionews.com/world/obama-rising-trump-vs-obama-2028-will-it-happen-in-case-of-trump-third-term-obama-already-challenge-for-trump-8933979" rel="dofollow noopener" target="_blank">Obama Rising: Trump third term dreams can open path for Barack Obama's return. But ex-prez is already a threat because...</a>
<h2>Market fallout after Trump's tariffs</h2>
Trump&rsquo;s announcement of what his administration has dubbed the biggest tariff package in a century has crashed the financial markets. The sharp increase in tariffs on imports from numerous countries, including a 34% rise in Chinese goods, has led to a major sell-off across global exchanges.
(With inputs from agencies)

World: In a post on Truth Social, Trump defended the sweeping tariffs he announced last week, which have shaken markets across Europe and Asia.

US President Donald Trump launched a fresh attack on China on Monday (April 7), labelling it “the biggest abuser” of tariffs. Trump's comments come as European and Asian markets crash due to the impact of his sweeping tariffs announced on Wednesday. In a post on Truth Social, Trump defended the sweeping tariffs he announced last week, which have shaken markets across Europe and Asia. He claimed the US was finally collecting “billions of dollars a week” from what he described as “abusing countries.” “Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION,” Trump wrote. “The long-time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place. This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long-term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate,” he said. Also read: Blood on the trading floor: Trump tariff 'medicine' makes global markets sick with selloff fever Trump went on to blame past American leaders for allowing other nations to exploit the US economically. “They’ve made enough, for decades, taking advantage of the Good OL’ USA! Our past 'leaders' are to blame for allowing this, and so much else, to happen to our Country. MAKE AMERICA GREAT AGAIN!" he added. China responds with sharp rebuke Earlier on Monday, during a press briefing, Chinese foreign ministry spokesperson Lin Jian criticised Trump’s tariff measures as “bullying” and warned against the use of threats and pressure. Also read: China on tariffs: 'US seeking hegemony in the name of reciprocity in trade war' “The tariffs are typical unilateralism and protectionism, and economic bullying,” Lin said. He described the US tariff strategy, framed as “reciprocal,” as a self-serving move that harms other nations, especially developing countries. “The abuse of tariffs by the United States is tantamount to depriving countries, especially those in the Global South, of their right to development,” Lin added. He also pointed to growing inequality within and between countries, blaming the United States for deepening the divide. Also read: Obama Rising: Trump third term dreams can open path for Barack Obama's return. But ex-prez is already a threat because... Market fallout after Trump's tariffs Trump’s announcement of what his administration has dubbed the biggest tariff package in a century has crashed the financial markets. The sharp increase in tariffs on imports from numerous countries, including a 34% rise in Chinese goods, has led to a major sell-off across global exchanges. (With inputs from agencies)

‘Didn’t heed my warning’: Trump calls China ‘biggest abuser’ as markets crash; Beijing slams US ‘bullying’

Billionaire investor Bill Ackman has shared his thoughts on US President Donald Trump's tariffs on countries. This matter has been discussed globally, as these tariffs have not spared even seals and penguins.&nbsp;
"The country is 100% behind the president on fixing a global system of tariffs that has disadvantaged the country. But, business is a confidence game and confidence depends on trust. President Donald Trump has elevated the tariff issue to the most important geopolitical issue in the world, and he has gotten everyone&rsquo;s attention. So far, so good," Ackman tweeted.
Also read: <a href="https://www.wionews.com/business-economy/bill-ackman-predicts-growth-as-trump-launches-doge-initiative-775890">Bill Ackman predicts growth as Trump launches DOGE initiative</a>
He highlighted how other countries have taken advantage of the US by protecting their home industries at the expense of millions of American jobs and economic growth.
He said, "But, by placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital."
Further added, "The president has an opportunity to call a 90-day time out, negotiate and resolve unfair asymmetric tariff deals, and induce trillions of dollars of new investment in our country. If, on the other hand, on April 9th we launch economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate."
Talking of market crashes, Ackman highlighted that when new investments stop, consumers stop spending money, and businesses have no choice but to curtail investment and fire workers.
Also read: <a href="https://www.wionews.com/world/did-you-use-ai-trumps-commerce-secretary-gives-bizzare-reason-for-slapping-tariffs-on-penguins-heres-why-trump-did-it-8933149">'Did you use AI?' Trump&rsquo;s Commerce Secretary gives BIZZARE reason for slapping tariffs on penguins: Here&rsquo;s why Trump did it</a>
"It is not just the big companies that will suffer. Small and medium size businesses and entrepreneurs will experience much greater pain. Almost no business can pass through an overnight massive increase in costs to their customers. And that&rsquo;s true even if they have no debt, and, unfortunately, there is a massive amount of leverage in the system."
He added, "The consequences for our country and the millions of our citizens who have supported the president &mdash; in particular low-income consumers who are already under a huge amount of economic stress &mdash; are going to be severely negative. This is not what we voted for."
Ackman is of the opinion that business is a confidence game and with the tariffs, Trump is losing the confidence of business leaders around the globe
&nbsp;

Billionaire investor Bill Ackman has shared his thoughts on US President Donald Trump's tariffs on countries. This matter has been discussed globally, as these tariffs have not spared even seals and penguins. World

Billionaire investor Bill Ackman has shared his thoughts on US President Donald Trump's tariffs on countries. This matter has been discussed globally, as these tariffs have not spared even seals and penguins. "The country is 100% behind the president on fixing a global system of tariffs that has disadvantaged the country. But, business is a confidence game and confidence depends on trust. President Donald Trump has elevated the tariff issue to the most important geopolitical issue in the world, and he has gotten everyone’s attention. So far, so good," Ackman tweeted. Also read: Bill Ackman predicts growth as Trump launches DOGE initiative He highlighted how other countries have taken advantage of the US by protecting their home industries at the expense of millions of American jobs and economic growth. He said, "But, by placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital." Further added, "The president has an opportunity to call a 90-day time out, negotiate and resolve unfair asymmetric tariff deals, and induce trillions of dollars of new investment in our country. If, on the other hand, on April 9th we launch economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate." Talking of market crashes, Ackman highlighted that when new investments stop, consumers stop spending money, and businesses have no choice but to curtail investment and fire workers. Also read: 'Did you use AI?' Trump’s Commerce Secretary gives BIZZARE reason for slapping tariffs on penguins: Here’s why Trump did it "It is not just the big companies that will suffer. Small and medium size businesses and entrepreneurs will experience much greater pain. Almost no business can pass through an overnight massive increase in costs to their customers. And that’s true even if they have no debt, and, unfortunately, there is a massive amount of leverage in the system." He added, "The consequences for our country and the millions of our citizens who have supported the president — in particular low-income consumers who are already under a huge amount of economic stress — are going to be severely negative. This is not what we voted for." Ackman is of the opinion that business is a confidence game and with the tariffs, Trump is losing the confidence of business leaders around the globe

Trump is 'losing the confidence of business leaders': Bill Ackman on trade tariff

US President <a href="https://www.wionews.com/world/not-just-rare-earth-minerals-but-ukraine-us-talks-on-new-minerals-deal-next-week-heres-what-trump-wants-now-8933048" rel="dofollow noopener" target="_blank">Donald Trump</a> has no plans to delay his latest round of tariffs despite mounting financial chaos across the world, according to Commerce Secretary Howard Lutnick. 
Speaking on CBS&rsquo;s Face the Nation on Sunday, Lutnick said, &ldquo;There is no postponing, they are definitely going to stay in place for days and weeks. That is sort of obvious.&rdquo;
Lutnick defended the administration&rsquo;s decision, insisting, &ldquo;The president needs to reset global trade.&rdquo;
Also read: <a href="https://www.wionews.com/world/man-falsely-accused-of-trying-to-kill-trump-vem-miller-files-100m-lawsuit-8932827" rel="dofollow noopener" target="_blank">&lsquo;Destroyed my life&rsquo;: Man falsely accused of trying to kill Trump says he's now &lsquo;undateable&rsquo;, files $100M lawsuit</a>
<h2>Trump tariff's Penguins saga</h2>
The interview took an unexpected turn when host Margaret Brennan pressed Lutnick on why had Trump slapped tariffs on the Heard and McDonald Islands, an uninhabited Australian territory near Antarctica, home only to penguins and seals?
&ldquo;When we saw the president stand in the Rose Garden holding up that chart that you helped make &mdash; that wasn&rsquo;t actually tariffs,&rdquo; Brennan pointed out. 
&ldquo;That was actually confusing to investors because it was some kind of other formula, and the countries themselves seemed kind of random,&rdquo; she said.
She then asked, &ldquo;Why are the Heard and McDonald Islands, which don&rsquo;t export to the United States and are quite literally inhabited by penguins, why do they face 10% tariffs? Did you use AI to generate this?&rdquo;
Lutnick laughed off the suggestion, replying, &ldquo;No!&rdquo;
<h2>Lutnick: "No loopholes &mdash; Not even for penguins"</h2>
Lutnick said, &ldquo;Because the idea, what happens is if you leave anything off the list, the countries that try to basically arbitrage America go through those countries to us.&rdquo;
He continued, &ldquo;The president knows that. He&rsquo;s tired of it, and he&rsquo;s going to fix that. So basically, he said look, I can&rsquo;t let any part of the world be a place where China or other countries can ship through them. So he ended those loopholes, these ridiculous loopholes.&rdquo;
Also read: <a href="https://www.wionews.com/world/trumps-tariffs-over-50-countries-rush-to-negotiate-with-us-8932708" rel="dofollow noopener" target="_blank">Falling in line after Trump&rsquo;s tariffs? Over 50 countries rush to negotiate with US - Who are they?</a>
<h2>Market meltdown over Trump tariffs</h2>
Trump&rsquo;s tariff announcement on Wednesday, which included a 10% blanket levy on all imports and even steeper charges for certain nations, such as a 34% tariff on Chinese goods, has sent global markets into a downward spiral.
More than $6 trillion was wiped off stock markets following the announcement, sparking calls for the administration to pause or reconsider the plan to allow breathing room for new trade negotiations.
Also read: <a href="https://www.wionews.com/world/iphones-fault-how-atlantic-editor-got-added-in-signals-houthi-war-chat-who-should-be-blamed-waltz-trump-or-apple-8932804" rel="dofollow noopener" target="_blank">iPhone's fault? How Atlantic editor got added in Signal's Houthi war chat - Who should be blamed: Waltz, Trump or Apple?</a>
(With inputs from agencies)

World: Lutnick said, “Because the idea, what happens is if you leave anything off the list, the countries that try to basically arbitrage America go through those countries to us.”

US President Donald Trump has no plans to delay his latest round of tariffs despite mounting financial chaos across the world, according to Commerce Secretary Howard Lutnick. Speaking on CBS’s Face the Nation on Sunday, Lutnick said, “There is no postponing, they are definitely going to stay in place for days and weeks. That is sort of obvious.” Lutnick defended the administration’s decision, insisting, “The president needs to reset global trade.” Also read: ‘Destroyed my life’: Man falsely accused of trying to kill Trump says he's now ‘undateable’, files $100M lawsuit Trump tariff's Penguins saga The interview took an unexpected turn when host Margaret Brennan pressed Lutnick on why had Trump slapped tariffs on the Heard and McDonald Islands, an uninhabited Australian territory near Antarctica, home only to penguins and seals? “When we saw the president stand in the Rose Garden holding up that chart that you helped make — that wasn’t actually tariffs,” Brennan pointed out. “That was actually confusing to investors because it was some kind of other formula, and the countries themselves seemed kind of random,” she said. She then asked, “Why are the Heard and McDonald Islands, which don’t export to the United States and are quite literally inhabited by penguins, why do they face 10% tariffs? Did you use AI to generate this?” Lutnick laughed off the suggestion, replying, “No!” Lutnick: "No loopholes — Not even for penguins" Lutnick said, “Because the idea, what happens is if you leave anything off the list, the countries that try to basically arbitrage America go through those countries to us.” He continued, “The president knows that. He’s tired of it, and he’s going to fix that. So basically, he said look, I can’t let any part of the world be a place where China or other countries can ship through them. So he ended those loopholes, these ridiculous loopholes.” Also read: Falling in line after Trump’s tariffs? Over 50 countries rush to negotiate with US - Who are they? Market meltdown over Trump tariffs Trump’s tariff announcement on Wednesday, which included a 10% blanket levy on all imports and even steeper charges for certain nations, such as a 34% tariff on Chinese goods, has sent global markets into a downward spiral. More than $6 trillion was wiped off stock markets following the announcement, sparking calls for the administration to pause or reconsider the plan to allow breathing room for new trade negotiations. Also read: iPhone's fault? How Atlantic editor got added in Signal's Houthi war chat - Who should be blamed: Waltz, Trump or Apple? (With inputs from agencies)

'Did you use AI?' Trump’s Commerce Secretary gives BIZZARE reason for slapping tariffs on penguins: Here’s why Trump did it

US President <a href="https://www.wionews.com/donald-trump" rel="dofollow noopener" target="_blank">Donald Trump&rsquo;s</a> sweeping new tariffs are facing fresh criticism, not just for their impact but for the&nbsp;very math behind them. Economists at the American Enterprise Institute (AEI), a right-leaning think tank, say the formula the Trump administration used to calculate the tariffs is fundamentally flawed.
Trump triggered global chaos last week after unveiling a 10% &ldquo;baseline&rdquo; tariff on nearly all imports, alongside much higher rates for around 60 countries, some exceeding 40%. He claimed these &ldquo;reciprocal&rdquo; tariffs reflected how those countries tax US goods. But according to AEI, the figures don&rsquo;t add up.
Also read: <a href="https://www.wionews.com/world/china-ai-donald-trump-us-treasury-secretary-scott-bessent-deepseek-us-stock-market-reciprocal-tariffs-8930105" rel="dofollow noopener" target="_blank">&lsquo;Blame China&rsquo;s AI, not Trump&rsquo;: US Treasury Secretary claims DeepSeek responsible for tanking stock market,&nbsp;not&nbsp;tariffs</a>
<h2>&ldquo;It&rsquo;s based on an error&rdquo;</h2>
In a report released Friday titled &ldquo;President Trump's Tariff Formula Makes No Economic Sense. It's Also Based on an Error,&rdquo; AEI&rsquo;s Kevin Corinth and Stan Veuger criticised both the logic and execution of the tariff plan.
They argue that Trump&rsquo;s formula, a simplified calculation based on dividing the US trade deficit with a country by that country&rsquo;s exports to America, is misleading. &ldquo;Even if you accept the logic of the formula, it inflates foreign tariffs by four times,&rdquo; they wrote.
They also point out that trade deficits aren't just caused by tariffs. Factors like capital flows, supply chains, and geography all play a role. &ldquo;A trade deficit with a given country is not determined only by tariffs and non-tariff trade barriers,&rdquo; the authors said.
Also read: <a href="https://www.wionews.com/world/elon-musk-wants-zero-tariff-situation-between-us-eu-after-tesla-loses-billions-amid-trumps-tariff-war-8932266" rel="dofollow noopener" target="_blank">'Free trade zone': Elon Musk wants 'zero tariff situation' between US, EU after Tesla loses BILLIONS amid Trump's tariff war</a>
<h2>Miscalculation explained</h2>
The White House later confirmed the tariff numbers were based on a basic model with just two variables. To soften the blow, Trump said he halved the resulting figure to be &ldquo;kind.&rdquo;
But the AEI economists say the administration's mistake lies in confusing how tariffs affect retail prices versus import prices. The formula used an elasticity value (how much prices respond to tariffs) of 0.25 when it should&rsquo;ve been closer to one.
&ldquo;The elasticity of import prices with respect to tariffs should be about one (actually 0.945), not 0.25,&rdquo; the report says, citing the original study Trump&rsquo;s team referred to. That small misstep, AEI warns, throws off the entire calculation.
Also read: <a href="https://www.wionews.com/world/end-of-globalisation-uk-pm-keir-starmers-big-announcement-as-trumps-disastrous-tariffs-shake-markets-8931966" rel="dofollow noopener" target="_blank">'End of globalisation'? UK PM Keir Starmer's BIG announcement as Trump's disastrous tariffs shake markets</a>
<h2>Tariffs spark market turmoil</h2>
Despite warnings, Trump remains firm. &ldquo;There may be some disruption,&rdquo; he admitted, &ldquo;but tariffs will ultimately benefit the US economy.&rdquo; Wall Street, however, isn't convinced. The Dow Jones dropped more than 1,600 points on Thursday, followed by a 2,200-point crash on Friday, its worst two-day loss ever.
Some trade partners are already responding with countermeasures, while others are seeking negotiations to ease the pressure.
Trump insists that his trade strategy will pay off in the long term. &ldquo;The markets will boom,&rdquo; he said, standing by his controversial formula.
(With inputs from agencies)

World: A report released Friday titled “President Trump's Tariff Formula Makes No Economic Sense. It's Also Based on an Error,” AEI’s Kevin Corinth and Stan Veuger criticised both the logic and execution of the tariff plan.

US President Donald Trump’s sweeping new tariffs are facing fresh criticism, not just for their impact but for the very math behind them. Economists at the American Enterprise Institute (AEI), a right-leaning think tank, say the formula the Trump administration used to calculate the tariffs is fundamentally flawed. Trump triggered global chaos last week after unveiling a 10% “baseline” tariff on nearly all imports, alongside much higher rates for around 60 countries, some exceeding 40%. He claimed these “reciprocal” tariffs reflected how those countries tax US goods. But according to AEI, the figures don’t add up. Also read: ‘Blame China’s AI, not Trump’: US Treasury Secretary claims DeepSeek responsible for tanking stock market, not tariffs “It’s based on an error” In a report released Friday titled “President Trump's Tariff Formula Makes No Economic Sense. It's Also Based on an Error,” AEI’s Kevin Corinth and Stan Veuger criticised both the logic and execution of the tariff plan. They argue that Trump’s formula, a simplified calculation based on dividing the US trade deficit with a country by that country’s exports to America, is misleading. “Even if you accept the logic of the formula, it inflates foreign tariffs by four times,” they wrote. They also point out that trade deficits aren't just caused by tariffs. Factors like capital flows, supply chains, and geography all play a role. “A trade deficit with a given country is not determined only by tariffs and non-tariff trade barriers,” the authors said. Also read: 'Free trade zone': Elon Musk wants 'zero tariff situation' between US, EU after Tesla loses BILLIONS amid Trump's tariff war Miscalculation explained The White House later confirmed the tariff numbers were based on a basic model with just two variables. To soften the blow, Trump said he halved the resulting figure to be “kind.” But the AEI economists say the administration's mistake lies in confusing how tariffs affect retail prices versus import prices. The formula used an elasticity value (how much prices respond to tariffs) of 0.25 when it should’ve been closer to one. “The elasticity of import prices with respect to tariffs should be about one (actually 0.945), not 0.25,” the report says, citing the original study Trump’s team referred to. That small misstep, AEI warns, throws off the entire calculation. Also read: 'End of globalisation'? UK PM Keir Starmer's BIG announcement as Trump's disastrous tariffs shake markets Tariffs spark market turmoil Despite warnings, Trump remains firm. “There may be some disruption,” he admitted, “but tariffs will ultimately benefit the US economy.” Wall Street, however, isn't convinced. The Dow Jones dropped more than 1,600 points on Thursday, followed by a 2,200-point crash on Friday, its worst two-day loss ever. Some trade partners are already responding with countermeasures, while others are seeking negotiations to ease the pressure. Trump insists that his trade strategy will pay off in the long term. “The markets will boom,” he said, standing by his controversial formula. (With inputs from agencies)

'Makes no economic sense': Trump’s tariff math is 'based on an error' and it could cost the US economy dearly - Here's how

Despite a steep drop in the US stock market last week, Treasury Secretary Scott Bessent says that President <a href="https://www.wionews.com/world/cant-stomach-trumps-absurd-tariff-math-trumps-treasury-secy-looking-for-exit-door-after-tariffs-ruin-his-credibility-8930074" rel="dofollow noopener" target="_blank">Donald Trump&rsquo;s</a> new tariff plans aren&rsquo;t the real reason behind the fall.
Instead, Bessent pointed the finger at DeepSeek, a Chinese artificial intelligence platform launched earlier this year, claiming that its release had a bigger impact on investor confidence than any political decision.
&ldquo;For everyone who thinks these market declines are all based on the President's economic policies, I can tell you that this market decline started with the Chinese AI announcement of DeepSeek,&rdquo; Bessent said during an interview with Tucker Carlson posted on Friday.
Also read: <a href="https://www.wionews.com/world/donald-trump-china-tariffs-trade-war-8929697" rel="dofollow noopener" target="_blank">'China has been hit much harder': Trump downplays Beijing's retaliatory tariffs but admits trade war 'won&rsquo;t be easy'</a>
<h2>'I'd say it's more a Mag 7 problem, not a MAGA'</h2>
DeepSeek, which rivals platforms like ChatGPT, introduced its latest version in January. According to Bessent, it triggered the downturn in the share prices of leading US tech firms, often referred to as the &ldquo;Magnificent 7.&rdquo;
&ldquo;I'd say it's more a Mag 7 problem, not a MAGA problem,&rdquo; Bessent told Carlson.
Bessent, a former hedge fund manager before becoming Treasury Secretary under Trump, explained, &ldquo;If I were to analyse in my old hat, and this is the only time I'm going to talk about it ... what's happening with the market, I'd say it's more a Mag 7 problem, not a MAGA problem.&rdquo;
Also read: <a href="https://www.wionews.com/world/not-just-taxes-its-a-safety-net-why-india-has-sky-high-tariffs-8929246" rel="dofollow noopener" target="_blank">'Not just taxes, it&rsquo;s a safety net': Why India has sky-high tariffs?</a>
The &ldquo;Mag 7&rdquo; includes seven top-performing technology companies whose success has heavily influenced the stock market&rsquo;s recent highs. &ldquo;MAGA,&rdquo; meanwhile, refers to Trump&rsquo;s &ldquo;Make America Great Again&rdquo; slogan.
US markets have fallen by roughly 10% over two days since Trump introduced a global 10% import tax, with even steeper tariffs for certain countries. But signs of weakness were already visible earlier in the year when DeepSeek&rsquo;s free AI assistant launched, boasting lower data use and cheaper running costs. That launch led to a massive selloff &mdash; including a record $600 billion loss in market value from AI chipmaker Nvidia, one of the Magnificent 7.
<h2>Trump officials play down market concerns</h2>
Bessent is not the only Trump official downplaying the market reaction. Commerce Secretary Howard Lutnick has also dismissed concerns, suggesting the market response is unrelated to Trump&rsquo;s tariff announcement.
Also read: <a href="https://www.wionews.com/world/netanyahu-to-meet-trump-in-washington-this-week-first-foreign-leader-to-discuss-tariffs-in-person-8929092" rel="dofollow noopener" target="_blank">Netanyahu to meet Trump in Washington this week, first foreign leader to discuss tariffs in person</a>
(With inputs from agencies)

World: DeepSeek, which rivals platforms like ChatGPT, introduced its latest version in January. According to Bessent, it triggered the downturn in the share prices of leading US tech firms, often referred to as the “Magnificent 7.”

Despite a steep drop in the US stock market last week, Treasury Secretary Scott Bessent says that President Donald Trump’s new tariff plans aren’t the real reason behind the fall. Instead, Bessent pointed the finger at DeepSeek, a Chinese artificial intelligence platform launched earlier this year, claiming that its release had a bigger impact on investor confidence than any political decision. “For everyone who thinks these market declines are all based on the President's economic policies, I can tell you that this market decline started with the Chinese AI announcement of DeepSeek,” Bessent said during an interview with Tucker Carlson posted on Friday. Also read: 'China has been hit much harder': Trump downplays Beijing's retaliatory tariffs but admits trade war 'won’t be easy' 'I'd say it's more a Mag 7 problem, not a MAGA' DeepSeek, which rivals platforms like ChatGPT, introduced its latest version in January. According to Bessent, it triggered the downturn in the share prices of leading US tech firms, often referred to as the “Magnificent 7.” “I'd say it's more a Mag 7 problem, not a MAGA problem,” Bessent told Carlson. Bessent, a former hedge fund manager before becoming Treasury Secretary under Trump, explained, “If I were to analyse in my old hat, and this is the only time I'm going to talk about it ... what's happening with the market, I'd say it's more a Mag 7 problem, not a MAGA problem.” Also read: 'Not just taxes, it’s a safety net': Why India has sky-high tariffs? The “Mag 7” includes seven top-performing technology companies whose success has heavily influenced the stock market’s recent highs. “MAGA,” meanwhile, refers to Trump’s “Make America Great Again” slogan. US markets have fallen by roughly 10% over two days since Trump introduced a global 10% import tax, with even steeper tariffs for certain countries. But signs of weakness were already visible earlier in the year when DeepSeek’s free AI assistant launched, boasting lower data use and cheaper running costs. That launch led to a massive selloff — including a record $600 billion loss in market value from AI chipmaker Nvidia, one of the Magnificent 7. Trump officials play down market concerns Bessent is not the only Trump official downplaying the market reaction. Commerce Secretary Howard Lutnick has also dismissed concerns, suggesting the market response is unrelated to Trump’s tariff announcement. Also read: Netanyahu to meet Trump in Washington this week, first foreign leader to discuss tariffs in person (With inputs from agencies)

‘Blame China’s AI, not Trump’: US Treasury Secretary claims DeepSeek responsible for tanking stock market, not tariffs

President <a href="https://www.wionews.com/donald-trump" rel="dofollow noopener" target="_blank">Donald Trump</a> has imposed at least 10% tariffs on nearly every country in the world, including even two uninhabited islands: the Heard and McDonald Islands near Antarctica, home only to seals and penguins. However, one country has been noticeably left off the list: Russia.
<h2>Why did Russia avoid Trump&rsquo;s tariffs?</h2>
When asked why Russia was exempt, White House Press Secretary Karoline Leavitt said that US sanctions already "preclude any meaningful trade" between the two nations, Axios reported.
Also read: <a href="https://www.wionews.com/india-news/what-is-indian-government-plan-to-counter-trump-26-percent-tariffs-step-one-carefully-examining-the-impact-8921190" rel="dofollow noopener" target="_blank">Indian government&rsquo;s big plan to counter Trump&rsquo;s 26 per cent tariffs? Step one: &lsquo;Carefully examining&rsquo; the impact</a>
However, this isn&rsquo;t entirely true. While trade between the US and Russia has dropped significantly, from $35 billion in 2021 to just $3.5 billion last year, the US still trades more with Russia than with countries like Mauritius or Brunei, both of which did make the tariff list.
Russia has reportedly asked Trump to lift some sanctions as part of US-brokered ceasefire talks over Ukraine, but so far, the US has not offered any concrete response. Instead, Trump recently threatened secondary tariffs on Russian oil and expressed frustration with Vladimir Putin, saying he was "very angry" and "pissed off" over the Russian leader&rsquo;s comments about Ukraine&rsquo;s President Volodymyr Zelensky.
Also read: <a href="https://www.wionews.com/opinions/trump-reciprocal-tariffs-india-pm-modi-8919189" rel="dofollow noopener" target="_blank">Trump&rsquo;s reciprocal tariffs hit &lsquo;tariff king&rsquo; India: Could they cost PM Modi his next term?</a>
Leavitt added that Russia could still face "additional strong sanctions", though no further details were provided.
<h2>Who else avoided Trump&rsquo;s tariffs?</h2>
A few other nations were also spared from Trump&rsquo;s sweeping trade penalties:
Cuba, Belarus, and North Korea: Leavitt explained that these countries were left out because they are already heavily sanctioned by the US.
Canada and Mexico: These two major economies also escaped new tariffs, but only because Trump had already slapped them with 25% tariffs previously.
Meanwhile, Ukraine was not exempt, despite the ongoing war. Trump has imposed a 10% tariff on Ukrainian imports, adding to the country&rsquo;s struggles.
Also read: <a href="https://www.wionews.com/world/did-donald-trump-spare-canada-and-mexico-from-the-latest-round-of-tariffs-white-house-reveals-truth-8920512">Did Donald Trump really spare Canada and Mexico from latest round of tariffs? White House reveals truth</a>
(With inputs from agencies)

World: Meanwhile, Ukraine was not exempt, despite the ongoing war. Trump has imposed a 10% tariff on Ukrainian imports, adding to the country’s struggles.

President Donald Trump has imposed at least 10% tariffs on nearly every country in the world, including even two uninhabited islands: the Heard and McDonald Islands near Antarctica, home only to seals and penguins. However, one country has been noticeably left off the list: Russia. Why did Russia avoid Trump’s tariffs? When asked why Russia was exempt, White House Press Secretary Karoline Leavitt said that US sanctions already "preclude any meaningful trade" between the two nations, Axios reported. Also read: Indian government’s big plan to counter Trump’s 26 per cent tariffs? Step one: ‘Carefully examining’ the impact However, this isn’t entirely true. While trade between the US and Russia has dropped significantly, from $35 billion in 2021 to just $3.5 billion last year, the US still trades more with Russia than with countries like Mauritius or Brunei, both of which did make the tariff list. Russia has reportedly asked Trump to lift some sanctions as part of US-brokered ceasefire talks over Ukraine, but so far, the US has not offered any concrete response. Instead, Trump recently threatened secondary tariffs on Russian oil and expressed frustration with Vladimir Putin, saying he was "very angry" and "pissed off" over the Russian leader’s comments about Ukraine’s President Volodymyr Zelensky. Also read: Trump’s reciprocal tariffs hit ‘tariff king’ India: Could they cost PM Modi his next term? Leavitt added that Russia could still face "additional strong sanctions", though no further details were provided. Who else avoided Trump’s tariffs? A few other nations were also spared from Trump’s sweeping trade penalties: Cuba, Belarus, and North Korea: Leavitt explained that these countries were left out because they are already heavily sanctioned by the US. Canada and Mexico: These two major economies also escaped new tariffs, but only because Trump had already slapped them with 25% tariffs previously. Meanwhile, Ukraine was not exempt, despite the ongoing war. Trump has imposed a 10% tariff on Ukrainian imports, adding to the country’s struggles. Also read: Did Donald Trump really spare Canada and Mexico from latest round of tariffs? White House reveals truth (With inputs from agencies)

Trump’s new tariffs hit Ukraine, penguins, and almost every country, but not Russia. Here’s why

US President Donald Trump has imposed 26% reciprocal tariffs on India, despite often referring to the country as a &ldquo;friend&rdquo;. These new tariffs could hit Indian exporters hard, leaving many wondering how the <a href="https://www.wionews.com/opinions/trump-reciprocal-tariffs-india-pm-modi-8919189" rel="dofollow noopener" target="_blank">Modi government</a> plans to respond.
<h2>India&rsquo;s response: Assessing the impact</h2>
The Indian government on Thursday (3 April) announced that it is &ldquo;carefully examining the implications&rdquo; of Trump&rsquo;s decision.
Also read: <a href="https://www.wionews.com/opinions/trump-reciprocal-tariffs-india-pm-modi-8919189" rel="dofollow noopener" target="_blank">Trump&rsquo;s reciprocal tariffs hit &lsquo;tariff king&rsquo; India: Could they cost PM Modi his next term?</a>
The Ministry of Commerce and Industry said that it is engaging with Indian industry leaders and exporters to assess the impact of the tariffs and gather feedback.
In a press release, the ministry said, &ldquo;The Department is also studying the opportunities that may arise due to this new development in the US trade policy.&rdquo;
<h2>India and US trade talks continue</h2>
Despite the tariffs, trade discussions between India and the US are still ongoing. The commerce ministry referenced the &lsquo;Mission 500&rsquo; initiative, which was announced by Prime Minister Narendra Modi and Trump on 13 February. This initiative aims to more than double bilateral trade to $500 billion by 2030.
Also read: <a href="https://www.wionews.com/opinions/not-quite-shoot-to-kill-trumps-cowboy-bluster-on-tariffs-hides-a-pragmatic-subtext-8919727">Not quite shoot-to-kill: Trump&rsquo;s cowboy bluster on tariffs hides a pragmatic subtext</a>
The ministry stressed that Indian and US trade teams are in talks to finalise a Bilateral Trade Agreement covering multiple sectors.
&ldquo;These cover a wide range of issues of mutual interest, including deepening supply chain integration,&rdquo; the ministry said. 
&ldquo;The ongoing talks are focused on enabling both nations to grow trade, investments, and technology transfers. We remain in touch with the Trump administration on these issues and expect to take them forward in the coming days,&rdquo; it added.
India reaffirmed its commitment to its Comprehensive Global Strategic Partnership with the US, adding that it remains focused on ensuring trade ties &ldquo;remain a pillar of mutual prosperity&rdquo;.
Also read: <a href="https://www.wionews.com/world/donald-trump-tariff-announcement-liberation-day-reciprocal-tariffs-india-china-japan-8919156">Trump&rsquo;s &lsquo;kind reciprocal&rsquo; tariffs explained: See how much India, China, Japan, and others will pay. FULL LIST</a>
The commerce ministry also said that it is dedicated to the India-US &lsquo;Catalysing Opportunities for Military Partnership, Accelerated Commerce &amp; Technology&rsquo; (COMPACT) initiative. This programme aims to strengthen economic and strategic ties between both nations in the 21st century.
(With inputs from agencies)

In a press release, the ministry said, “The Department is also studying the opportunities that may arise due to this new development in the US trade policy.” India news, World

US President Donald Trump has imposed 26% reciprocal tariffs on India, despite often referring to the country as a “friend”. These new tariffs could hit Indian exporters hard, leaving many wondering how the Modi government plans to respond. India’s response: Assessing the impact The Indian government on Thursday (3 April) announced that it is “carefully examining the implications” of Trump’s decision. Also read: Trump’s reciprocal tariffs hit ‘tariff king’ India: Could they cost PM Modi his next term? The Ministry of Commerce and Industry said that it is engaging with Indian industry leaders and exporters to assess the impact of the tariffs and gather feedback. In a press release, the ministry said, “The Department is also studying the opportunities that may arise due to this new development in the US trade policy.” India and US trade talks continue Despite the tariffs, trade discussions between India and the US are still ongoing. The commerce ministry referenced the ‘Mission 500’ initiative, which was announced by Prime Minister Narendra Modi and Trump on 13 February. This initiative aims to more than double bilateral trade to $500 billion by 2030. Also read: Not quite shoot-to-kill: Trump’s cowboy bluster on tariffs hides a pragmatic subtext The ministry stressed that Indian and US trade teams are in talks to finalise a Bilateral Trade Agreement covering multiple sectors. “These cover a wide range of issues of mutual interest, including deepening supply chain integration,” the ministry said. “The ongoing talks are focused on enabling both nations to grow trade, investments, and technology transfers. We remain in touch with the Trump administration on these issues and expect to take them forward in the coming days,” it added. India reaffirmed its commitment to its Comprehensive Global Strategic Partnership with the US, adding that it remains focused on ensuring trade ties “remain a pillar of mutual prosperity”. Also read: Trump’s ‘kind reciprocal’ tariffs explained: See how much India, China, Japan, and others will pay. FULL LIST The commerce ministry also said that it is dedicated to the India-US ‘Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology’ (COMPACT) initiative. This programme aims to strengthen economic and strategic ties between both nations in the 21st century. (With inputs from agencies)

Indian government’s big plan to counter Trump’s 26 per cent tariffs? Step one: ‘Carefully examining’ the impact

Unsparing could probably be the apt word to describe US President Donald Trump's tariffs. As these are now being levied even on the world's remotest region &ndash; a place ruled by penguins, seals, and birds. Heard and McDonald Islands &ndash; the icy archipelago does not have a single human on the land, and the last time people visited is believed to be about a decade ago.
These islands form the external territory of Australia and are accessible from Perth on the west coast by a two-week boat voyage. The inhabitable region also has a 10% import tax levied. Australian Prime Minister Anthony Albanese had said no place on Earth is safe.
Also read: <a href="https://www.wionews.com/world/trump-reciprocal-tariffs-indias-first-response-to-donald-trumps-reciprocal-tariff-its-mixed-bag-not-setback-8919482">Trump tariffs 'not a setback' for India: Official calls it a mixed bag as US prez imposes 26 per cent tariffs on India</a>
The White House list also features Norfolk Island, Cocos (Keeling) Islands, Christmas Island, Comoros (which is off the coast of Africa), and Britain's Falkland Island.
With taxes levied on the Australian territory in the sub-Antarctic Indian Oceans, news outlet Guardian quoted the Australian PM, &ldquo;Norfolk Island has got a 29% tariff. I&rsquo;m not quite sure that Norfolk Island, with respect to it, is a trade competitor with the giant economy of the United States, but that just shows and exemplifies the fact that nowhere on earth is safe from this.&rdquo;
Also read: <a href="https://www.wionews.com/world/these-six-things-to-get-expensive-for-americans-after-trade-tariffs-list-here-8919454">THESE six things to get expensive for Americans after trade tariffs. List here</a>
The last also features Myanmar, which is currently reeling under the worst-hit earthquake, with rescue operations still underway. Over 300 people have lost their lives, and over 400 are missing. The international community is helping in the operations to pull out people trapped in the rubble of massive building structures. The Trump administration's list of tariffs states that Myanmar will face a 44% tax on its exports to the United States.
Unsparing is the word that fits these tariffs.
&nbsp;

US President Donald Trump's tariffs even on the world's remotest region – a place ruled by penguins, seals, and birds. Heard and McDonald Islands – the icy archipelago has zero human population. World

Unsparing could probably be the apt word to describe US President Donald Trump's tariffs. As these are now being levied even on the world's remotest region – a place ruled by penguins, seals, and birds. Heard and McDonald Islands – the icy archipelago does not have a single human on the land, and the last time people visited is believed to be about a decade ago. These islands form the external territory of Australia and are accessible from Perth on the west coast by a two-week boat voyage. The inhabitable region also has a 10% import tax levied. Australian Prime Minister Anthony Albanese had said no place on Earth is safe. Also read: Trump tariffs 'not a setback' for India: Official calls it a mixed bag as US prez imposes 26 per cent tariffs on India The White House list also features Norfolk Island, Cocos (Keeling) Islands, Christmas Island, Comoros (which is off the coast of Africa), and Britain's Falkland Island. With taxes levied on the Australian territory in the sub-Antarctic Indian Oceans, news outlet Guardian quoted the Australian PM, “Norfolk Island has got a 29% tariff. I’m not quite sure that Norfolk Island, with respect to it, is a trade competitor with the giant economy of the United States, but that just shows and exemplifies the fact that nowhere on earth is safe from this.” Also read: THESE six things to get expensive for Americans after trade tariffs. List here The last also features Myanmar, which is currently reeling under the worst-hit earthquake, with rescue operations still underway. Over 300 people have lost their lives, and over 400 are missing. The international community is helping in the operations to pull out people trapped in the rubble of massive building structures. The Trump administration's list of tariffs states that Myanmar will face a 44% tax on its exports to the United States. Unsparing is the word that fits these tariffs.

Tariff on seals and penguins? Donald Trump slaps Earth's remotest region with 10% tax

US President Donald Trump has been imposing tariffs on left, right, and centre. This will affect goods worth millions of dollars entering the country. Will this add to the woes of Americans? So far, Trump has imposed taxes ranging from 10% to 50%, the latter is for 'worst offenders'.&nbsp;
Canada and Mexico have currently been exempted from these scathing tariffs, though they, along with China, are already paying taxes on select products.
<h2>In this long list of tariffs, what is going to be expensive in America, let's find out...</h2>
Also read: <a href="https://www.wionews.com/business-economy/financial-markets-tumble-after-trump-tariff-announcement-8919320">Financial markets tumble after Trump tariff announcement</a>
<h2>Houses</h2>
Softwood lumber plays a pivotal role in houses built in the US, which is imported from Canada. But Trump said been categoric about the fact that the country has more lumber than they have ever used. The National Association of Home Builders (NAHB) has been concerned about these tariffs as it could increase the cost of building houses. News outlet BBC, quoted NAHB, "Consumers end up paying for the tariffs in the form of higher home prices."
<h2>Beer, wine, whiskey, and tequila</h2>
Corona and Modelo are some of the popular beers that could be on shelves but with elevated price tags. These are imported from Mexico. The tariff on aluminium could inversely hike the prices of canned beverages. The Beer Institutes mentions that about 64.1% of beverages are poured out of cans in the country.
While the discussion among the representatives of the spirit industry is that some alcohol need to be produced in the respective country, like Tennessee whiskey, tequila, and Canadian whisky, bourbon. This may add to trouble with supplies and inturn affect the cost and pricing.
With that alcohol from Europe will see a 200% tariff. French champagne, German beer and Spanish wine lovers may feel the pinch, though this needs more clarity.
<h2>Cars</h2>
In 2024, US saw an import of about eight million cars, which accounted for about $240 billion in trade. The tariffs could add thousands of dollars to the cost of a new car purchase. Prices may go up even for cars made in the US. Given the longstanding free trade agreement between US, Mexico and Canada, many American companies have their operations in these countries.
The new tariffs have been relaxed on car spare parts from these countries as the customs and border patrol have systems in place to assess the duties levied. As reported in BBC, Anderson Economic Group says only parts from these countries could elevate the pricing by an estimated $4,000-$10,000, depending on the vehicle.
<h2>Fuel</h2>
Canada is US' largest foreign supplier of crude oil, according to official figures, 61% of oil imported into the country between January and November 2024 came from Canada.
Meanwhile, the Trump administration has introduced a 25% tariff on most goods imported from Canada, energy resources from the country face a&nbsp;lower rate of 10%.
<h2>Maple syrup</h2>
Canada rules the global market when it comes to maple syrup, the country accounts for 75% of the global production. The Quebec province produces about 90% of the king ingredient on pancakes. "That maple syrup is going to become more expensive. And that's a direct price increase that households will face," said Thomas Sampson from the London School of Economics.
He added, "If I buy goods that are domestically produced in the US, but [which use] inputs from Canada, the price of those goods is also going to go up."
<h2>Avacado</h2>
Yes, guacamole and avocado toast may become an expensive affair. America imports nearly 90% of the avacados consumed from neighbouring Mexico. The fruit thrives in Mexico, as the climate and weather conditions are just perfect.
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&nbsp;

US President Donald Trump has been imposing tariffs on left, right, and centre. This will affect goods worth millions of dollars entering the country. Will this add to the woes of Americans? World

US President Donald Trump has been imposing tariffs on left, right, and centre. This will affect goods worth millions of dollars entering the country. Will this add to the woes of Americans? So far, Trump has imposed taxes ranging from 10% to 50%, the latter is for 'worst offenders'. Canada and Mexico have currently been exempted from these scathing tariffs, though they, along with China, are already paying taxes on select products. In this long list of tariffs, what is going to be expensive in America, let's find out... Also read: Financial markets tumble after Trump tariff announcement Houses Softwood lumber plays a pivotal role in houses built in the US, which is imported from Canada. But Trump said been categoric about the fact that the country has more lumber than they have ever used. The National Association of Home Builders (NAHB) has been concerned about these tariffs as it could increase the cost of building houses. News outlet BBC, quoted NAHB, "Consumers end up paying for the tariffs in the form of higher home prices." Beer, wine, whiskey, and tequila Corona and Modelo are some of the popular beers that could be on shelves but with elevated price tags. These are imported from Mexico. The tariff on aluminium could inversely hike the prices of canned beverages. The Beer Institutes mentions that about 64.1% of beverages are poured out of cans in the country. While the discussion among the representatives of the spirit industry is that some alcohol need to be produced in the respective country, like Tennessee whiskey, tequila, and Canadian whisky, bourbon. This may add to trouble with supplies and inturn affect the cost and pricing. With that alcohol from Europe will see a 200% tariff. French champagne, German beer and Spanish wine lovers may feel the pinch, though this needs more clarity. Cars In 2024, US saw an import of about eight million cars, which accounted for about $240 billion in trade. The tariffs could add thousands of dollars to the cost of a new car purchase. Prices may go up even for cars made in the US. Given the longstanding free trade agreement between US, Mexico and Canada, many American companies have their operations in these countries. The new tariffs have been relaxed on car spare parts from these countries as the customs and border patrol have systems in place to assess the duties levied. As reported in BBC, Anderson Economic Group says only parts from these countries could elevate the pricing by an estimated $4,000-$10,000, depending on the vehicle. Fuel Canada is US' largest foreign supplier of crude oil, according to official figures, 61% of oil imported into the country between January and November 2024 came from Canada. Meanwhile, the Trump administration has introduced a 25% tariff on most goods imported from Canada, energy resources from the country face a lower rate of 10%. Maple syrup Canada rules the global market when it comes to maple syrup, the country accounts for 75% of the global production. The Quebec province produces about 90% of the king ingredient on pancakes. "That maple syrup is going to become more expensive. And that's a direct price increase that households will face," said Thomas Sampson from the London School of Economics. He added, "If I buy goods that are domestically produced in the US, but [which use] inputs from Canada, the price of those goods is also going to go up." Avacado Yes, guacamole and avocado toast may become an expensive affair. America imports nearly 90% of the avacados consumed from neighbouring Mexico. The fruit thrives in Mexico, as the climate and weather conditions are just perfect.

THESE six things to get expensive for Americans after trade tariffs. List here

Whatever US President <a href="https://www.wionews.com/donald-trump" rel="dofollow noopener" target="_blank">Donald Trump</a> may think about India, he&rsquo;s got one thing right, it is the &ldquo;tariff king.&rdquo; India&rsquo;s tariff rates are among the highest in the world, and Trump has called the South-Asian nation out on multiple occasions.
&ldquo;India charges us 100 per cent tariffs; the system is not fair to the US, it never was,&rdquo; Trump said in an address to the Joint Session of the US Congress.
His administration&rsquo;s latest trade report backs him up. The Office of the United States Trade Representative listed India&rsquo;s high tariffs, including a 50 per cent duty on apples (compared to the US, which has no tariffs on apples). India also levies 50 per cent tariffs on corn and motorcycles and 100 per cent tariffs on coffee, raisins, and walnuts.
So, on April 2, Trump hit back with a 26 per cent reciprocal tariff on India. But forget why India has such high tariffs (that&rsquo;s another article in itself); the real question is: how much is this going to cost Prime Minister Narendra Modi?
Also read: <a href="https://www.wionews.com/world/donald-trump-tariff-announcement-liberation-day-reciprocal-tariffs-india-china-japan-8919156" rel="dofollow noopener" target="_blank">Trump&rsquo;s &lsquo;kind reciprocal&rsquo; tariffs explained: See how much India, China, Japan, and others will pay. FULL LIST</a>
<h2>A blow to Atmanirbhar Bharat</h2>
Trump&rsquo;s tariffs will be a direct blow to Modi&rsquo;s Atmanirbhar Bharat Abhiyaan, or &ldquo;self-reliant India&rdquo; campaign, which has been a core policy since 2020.
Since taking office in 2014, Modi has gradually hiked tariffs to push domestic manufacturing. His government has also rolled out production-linked incentives (PLIs) to attract foreign manufacturers to India by offering them rewards for increasing local production.
The official reason for India&rsquo;s high tariffs? Protecting local industries. These same industries, backed by big businessmen who benefit from these tariffs,&nbsp;are a major source of support (and funding) for the Indian government. 
<h2>Indian agriculture to a big hit</h2>
US Commerce Secretary Howard Lutnick asked, &ldquo;Why won&rsquo;t India buy even a single bushel of American corn?&rdquo;
Lutnick wanted India to open up its agricultural sector, accusing India of blocking US farmers. But, while India could minimise tariffs on industrial goods, agriculture is a whole different topic.
Every time the government tries to sign a deal to allow dairy imports, it gets shut down because of the argument that it would drive millions of small farmers into ruin.&nbsp;
The same logic applies to other agricultural products. If India lets in cheap American imports, its farmers will take the brunt, and that&rsquo;s politically not good for Modi, who has already had to backtrack on farm laws after mass protests.
Also read: <a href="https://www.wionews.com/world/want-to-avoid-trumps-reciprocal-tariffs-trump-himself-has-a-simple-solution-for-world-leaders-8919111" rel="dofollow noopener" target="_blank">Want to avoid Trump&rsquo;s reciprocal tariffs? Trump himself has a &lsquo;simple&rsquo; solution for world leaders</a>
<h2>So, what can Modi do? </h2>
The Indian government tried to soften Trump&rsquo;s stance ahead of PM Modi's Washington visit in February by lowering India&rsquo;s highest tariffs (100-150 per cent) on some items, including bourbon whisky. 
Motorcycle import taxes also dropped from 50 per cent to 30 per cent, bringing India&rsquo;s average tariff rate down from 11.5 per cent to 10.6 per cent. This did help a bit: both sides agreed to finalise the first phase of a trade deal by autumn and boost trade to $500 billion by 2030 (from $210 billion in 2024). 
India also promised to buy more American oil, gas, and arms to reduce its trade surplus with the US. These moves keep talks alive and buy time.
Commerce Minister Piyush Goyal even flew to Washington to offer further tariff cuts covering 55 per cent of US exports. India also scrapped a 6 per cent tax on digital ads (a win for American tech giants), and Jio and Bharti Airtel struck deals to bring Elon Musk&rsquo;s Starlink satellite internet service to India.
But was that enough for Trump? No. India still landed on his latest tariff retaliation list.
<h2>Can Modi meet Trump&rsquo;s demands?</h2>
If PM Modi backs down too much, he could anger some of his strongest support groups&mdash;farmers and big business. Farmers are already cautious of Modi&rsquo;s policies, and businesses, who have long been protected from foreign competition for far too long, won&rsquo;t exactly be beaming with joy if tariffs drop too low.
Aside from that, Trump&rsquo;s tariffs could also hurt Indian exports. Goldman Sachs estimates that Trump's tariffs could cause a 0.6 per cent drop in India&rsquo;s GDP growth.
That might not seem like a lot right now, but a prolonged trade war could put a serious dent in PM Modi&rsquo;s vision for 'Amrit Kaal.'
Also read: <a href="https://www.wionews.com/world/trump-announces-26-discounted-tariffs-on-india-says-pm-modi-is-a-friend-but-he-hasnt-been-treating-us-right-8919110" rel="dofollow noopener" target="_blank">Trump announces 26% 'discounted' tariffs on India, says 'PM Modi is a friend, but he hasn't been treating us right'</a>
<div class="post-content">
(Disclaimer: The&nbsp;views of&nbsp;the&nbsp;writer&nbsp;do not represent&nbsp;the views&nbsp;of WION or ZMCL.&nbsp;Nor does WION or ZMCL endorse the views of the writer.)
</div>

On April 2, Trump imposed a 26 per cent reciprocal tariff on India. Now the real question is: how much is this going to cost Prime Minister Narendra Modi? Opinions & Blogs | World

Whatever US President Donald Trump may think about India, he’s got one thing right, it is the “tariff king.” India’s tariff rates are among the highest in the world, and Trump has called the South-Asian nation out on multiple occasions. “India charges us 100 per cent tariffs; the system is not fair to the US, it never was,” Trump said in an address to the Joint Session of the US Congress. His administration’s latest trade report backs him up. The Office of the United States Trade Representative listed India’s high tariffs, including a 50 per cent duty on apples (compared to the US, which has no tariffs on apples). India also levies 50 per cent tariffs on corn and motorcycles and 100 per cent tariffs on coffee, raisins, and walnuts. So, on April 2, Trump hit back with a 26 per cent reciprocal tariff on India. But forget why India has such high tariffs (that’s another article in itself); the real question is: how much is this going to cost Prime Minister Narendra Modi? Also read: Trump’s ‘kind reciprocal’ tariffs explained: See how much India, China, Japan, and others will pay. FULL LIST A blow to Atmanirbhar Bharat Trump’s tariffs will be a direct blow to Modi’s Atmanirbhar Bharat Abhiyaan, or “self-reliant India” campaign, which has been a core policy since 2020. Since taking office in 2014, Modi has gradually hiked tariffs to push domestic manufacturing. His government has also rolled out production-linked incentives (PLIs) to attract foreign manufacturers to India by offering them rewards for increasing local production. The official reason for India’s high tariffs? Protecting local industries. These same industries, backed by big businessmen who benefit from these tariffs, are a major source of support (and funding) for the Indian government. Indian agriculture to a big hit US Commerce Secretary Howard Lutnick asked, “Why won’t India buy even a single bushel of American corn?” Lutnick wanted India to open up its agricultural sector, accusing India of blocking US farmers. But, while India could minimise tariffs on industrial goods, agriculture is a whole different topic. Every time the government tries to sign a deal to allow dairy imports, it gets shut down because of the argument that it would drive millions of small farmers into ruin. The same logic applies to other agricultural products. If India lets in cheap American imports, its farmers will take the brunt, and that’s politically not good for Modi, who has already had to backtrack on farm laws after mass protests. Also read: Want to avoid Trump’s reciprocal tariffs? Trump himself has a ‘simple’ solution for world leaders So, what can Modi do? The Indian government tried to soften Trump’s stance ahead of PM Modi's Washington visit in February by lowering India’s highest tariffs (100-150 per cent) on some items, including bourbon whisky. Motorcycle import taxes also dropped from 50 per cent to 30 per cent, bringing India’s average tariff rate down from 11.5 per cent to 10.6 per cent. This did help a bit: both sides agreed to finalise the first phase of a trade deal by autumn and boost trade to $500 billion by 2030 (from $210 billion in 2024). India also promised to buy more American oil, gas, and arms to reduce its trade surplus with the US. These moves keep talks alive and buy time. Commerce Minister Piyush Goyal even flew to Washington to offer further tariff cuts covering 55 per cent of US exports. India also scrapped a 6 per cent tax on digital ads (a win for American tech giants), and Jio and Bharti Airtel struck deals to bring Elon Musk’s Starlink satellite internet service to India. But was that enough for Trump? No. India still landed on his latest tariff retaliation list. Can Modi meet Trump’s demands? If PM Modi backs down too much, he could anger some of his strongest support groups—farmers and big business. Farmers are already cautious of Modi’s policies, and businesses, who have long been protected from foreign competition for far too long, won’t exactly be beaming with joy if tariffs drop too low. Aside from that, Trump’s tariffs could also hurt Indian exports. Goldman Sachs estimates that Trump's tariffs could cause a 0.6 per cent drop in India’s GDP growth. That might not seem like a lot right now, but a prolonged trade war could put a serious dent in PM Modi’s vision for 'Amrit Kaal.' Also read: Trump announces 26% 'discounted' tariffs on India, says 'PM Modi is a friend, but he hasn't been treating us right' (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

Trump’s reciprocal tariffs hit ‘tariff king’ India: Could they cost PM Modi his next term?

US President Donald Trump kicked off his &ldquo;Liberation Day&rdquo; event to loud cheers, stepping onto the stage as the band played Hail to the Chief, the personal anthem of the president of the United States. With his signature 'Trumpisma (charisma but Trumpian)', he declared, &ldquo;My fellow Americans, this is Liberation Day!&rdquo;
He told the crowd that &ldquo;April 2, 2025, will forever be remembered as the day American industry was reborn,&rdquo; insisting that for decades, the US had been &ldquo;looted, pillaged, raped, and plundered&rdquo; by foreign nations. 
The whole world was waiting with their breaths held to see how much it would cost them, but it's not the worst!
Also read: <a href="https://www.wionews.com/world/want-to-avoid-trumps-reciprocal-tariffs-trump-himself-has-a-simple-solution-for-world-leaders-8919111" rel="dofollow noopener" target="_blank">Want to avoid Trump&rsquo;s reciprocal tariffs? Trump himself has a &lsquo;simple&rsquo; solution for world leaders</a>
<h2>&lsquo;Kind reciprocal&rsquo; tariffs &ndash; but not exactly even</h2>
While Trump called these tariffs &ldquo;reciprocal,&rdquo; he admitted they&rsquo;re only about half of what other countries charge the US.
"We will charge them approximately half of what they are and have been charging us," he said. 
&ldquo;I could have done that, yes, but it would have been tough for a lot of countries. We didn&rsquo;t want to do that,&rdquo; he added.
Instead of going full force, Trump said his approach is more "kind reciprocal," a softer hit that still sends a message. It's like giving other nations a taste of their own medicine, just not the full dose.
Also read: <a href="https://www.wionews.com/world/donald-trump-to-sign-executive-order-on-reciprocal-tariffs-to-usher-in-golden-age-of-america-8919067" rel="dofollow noopener" target="_blank">'US has been looted, raped': Trump to sign executive order on 'reciprocal tariffs' to usher in 'golden&nbsp;age&nbsp;of&nbsp;America'</a>
<h2>Who&rsquo;s paying what? The new tariff rates</h2>
Here&rsquo;s a breakdown of the new tariffs by country:
China &ndash; 34% 
European Union &ndash; 20% 
Japan &ndash; 24% (Say goodbye to cheap Toyotas)
South Korea &ndash; 25% (Samsung prices might go up)
Switzerland &ndash; 31% 
United Kingdom &ndash; 10%
Taiwan &ndash; 32% (What about the chips?)
Malaysia &ndash; 24%
India &ndash; 26%
Brazil &ndash; 10%
Indonesia &ndash; 32%
Vietnam &ndash; 46% (The highest tariff on the list)
Singapore &ndash; 10%
Ukraine &ndash; 10%
Venezuela &ndash; 15%
<blockquote class="twitter-tweet publive-iframes-block publive-Twitter-block" contenteditable="false" width="600" height="400" id="PL_blockquote_block-m90gm2a2-di0z02ob-z6dby4ib">
<a href="https://t.co/v5WMU5wofc">pic.twitter.com/v5WMU5wofc</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1907531727683334384?ref_src=twsrc%5Etfw">April 2, 2025</a></blockquote>
<h2>Trump signs two major executive orders</h2>
To wrap up the event, Trump signed two executive orders that he says will shake up global trade:
Closing the &lsquo;de minimis loophole&rsquo; &ndash; This loophole has allowed China to send cheap goods into the US without paying taxes or import duties.
Order implementing &lsquo;reciprocal tariffs&rsquo; &ndash; Trump is now slapping tariffs on imported goods, including a 25% tax on all foreign cars and tariffs between 10% and 49% on other imports.
(With inputs from agencies)

World: While Trump called these tariffs “reciprocal,” he admitted they’re only about half of what other countries charge the US.

US President Donald Trump kicked off his “Liberation Day” event to loud cheers, stepping onto the stage as the band played Hail to the Chief, the personal anthem of the president of the United States. With his signature 'Trumpisma (charisma but Trumpian)', he declared, “My fellow Americans, this is Liberation Day!” He told the crowd that “April 2, 2025, will forever be remembered as the day American industry was reborn,” insisting that for decades, the US had been “looted, pillaged, raped, and plundered” by foreign nations. The whole world was waiting with their breaths held to see how much it would cost them, but it's not the worst! Also read: Want to avoid Trump’s reciprocal tariffs? Trump himself has a ‘simple’ solution for world leaders ‘Kind reciprocal’ tariffs – but not exactly even While Trump called these tariffs “reciprocal,” he admitted they’re only about half of what other countries charge the US. "We will charge them approximately half of what they are and have been charging us," he said. “I could have done that, yes, but it would have been tough for a lot of countries. We didn’t want to do that,” he added. Instead of going full force, Trump said his approach is more "kind reciprocal," a softer hit that still sends a message. It's like giving other nations a taste of their own medicine, just not the full dose. Also read: 'US has been looted, raped': Trump to sign executive order on 'reciprocal tariffs' to usher in 'golden age of America' Who’s paying what? The new tariff rates Here’s a breakdown of the new tariffs by country: China – 34% European Union – 20% Japan – 24% (Say goodbye to cheap Toyotas) South Korea – 25% (Samsung prices might go up) Switzerland – 31% United Kingdom – 10% Taiwan – 32% (What about the chips?) Malaysia – 24% India – 26% Brazil – 10% Indonesia – 32% Vietnam – 46% (The highest tariff on the list) Singapore – 10% Ukraine – 10% Venezuela – 15% pic.twitter.com/v5WMU5wofc — Rapid Response 47 (@RapidResponse47) April 2, 2025 Trump signs two major executive orders To wrap up the event, Trump signed two executive orders that he says will shake up global trade: Closing the ‘de minimis loophole’ – This loophole has allowed China to send cheap goods into the US without paying taxes or import duties. Order implementing ‘reciprocal tariffs’ – Trump is now slapping tariffs on imported goods, including a 25% tax on all foreign cars and tariffs between 10% and 49% on other imports. (With inputs from agencies)

Trump’s ‘kind reciprocal’ tariffs explained: See how much India, China, Japan, and others will pay. FULL LIST

US President <a href="https://www.wionews.com/donald-trump" rel="dofollow">Donald Trump</a> is set to introduce a new wave of "Liberation Day" tariffs, which will take effect immediately after his announcement on Wednesday (April 02), White House Press Secretary Karoline Leavitt confirmed.
"My understanding is that the tariff announcement will come tomorrow, they will be effective immediately," Leavitt told reporters on Tuesday, adding that she had just spoken to Trump about the matter.
So, what do these tariffs mean, who actually pays for them, and how could they affect consumers? Here&rsquo;s a closer look.
<h2>How tariffs work and who pays for them?</h2>
A tariff is a government-imposed tax on goods imported from other countries. While these levies are meant to make foreign products less competitive, the reality is that the costs often get passed along the supply chain.
Contrary to popular belief, tariffs are not paid by foreign governments. Instead, US-based importers bear the direct financial burden. However, the impact doesn&rsquo;t stop there:
<ul>
<li>Consumers in the US often face higher prices as businesses raise costs to cover the tariffs.</li>
<li>Retailers and manufacturers using imported materials may see rising production expenses, forcing them to either absorb the losses or increase prices.</li>
<li>Foreign suppliers may cut their prices to stay competitive, reducing their profits.</li>
<li>Some governments respond by devaluing their currencies or offering tax rebates to counterbalance the tariffs, as China has done previously.</li>
</ul>
<h2>Trump&rsquo;s strategy: What is he trying to achieve?</h2>
Trump views tariffs as a flexible economic tool, using them to pressure trade partners and support US industries. His administration argues that these tariffs will:
<ul>
<li>Put pressure on Canada, Mexico, and China to reduce illegal migration and drug trafficking into the US.</li>
<li>Protect key industries, such as steel, aluminium, and copper, which are vital to national security.</li>
<li>Support domestic car manufacturers by imposing higher import duties on foreign vehicles.</li>
<li>Level the playing field by introducing "reciprocal" tariffs, preventing other countries from imposing higher taxes on American exports.</li>
<li>Generate significant revenue, which Trump claims will help fund tax cuts, government spending, and even balance the federal budget.</li>
</ul>
<h2>How will these tariffs impact consumer prices?</h2>
Since the tariffs will target major trading partners, the costs of everyday goods could rise.
Food prices &ndash; Fresh produce from Mexico, such as avocados, tomatoes, and strawberries, may become more expensive within weeks.
Alcohol and beverages &ndash; Beer, tequila, and other spirits could see significant price hikes, as Mexico supplies a large share of US agricultural imports.
Electronics and automobiles &ndash; Prices may stay steady for a while due to existing inventory, but if tariffs remain in place, expect higher costs on cars and tech products.
Despite warnings from economists and trade experts, Trump has played down concerns about price hikes, telling Congress, "There will be a little disturbance, but we are OK with that. It won&rsquo;t be much."
However, history suggests that American businesses and consumers will ultimately bear the cost, just as they did during his first term.

World: "My understanding is that the tariff announcement will come tomorrow, they will be effective immediately," Leavitt told reporters on Tuesday, adding that she had just spoken to Trump about the matter.

US President Donald Trump is set to introduce a new wave of "Liberation Day" tariffs, which will take effect immediately after his announcement on Wednesday (April 02), White House Press Secretary Karoline Leavitt confirmed. "My understanding is that the tariff announcement will come tomorrow, they will be effective immediately," Leavitt told reporters on Tuesday, adding that she had just spoken to Trump about the matter. So, what do these tariffs mean, who actually pays for them, and how could they affect consumers? Here’s a closer look. How tariffs work and who pays for them? A tariff is a government-imposed tax on goods imported from other countries. While these levies are meant to make foreign products less competitive, the reality is that the costs often get passed along the supply chain. Contrary to popular belief, tariffs are not paid by foreign governments. Instead, US-based importers bear the direct financial burden. However, the impact doesn’t stop there: Consumers in the US often face higher prices as businesses raise costs to cover the tariffs. Retailers and manufacturers using imported materials may see rising production expenses, forcing them to either absorb the losses or increase prices. Foreign suppliers may cut their prices to stay competitive, reducing their profits. Some governments respond by devaluing their currencies or offering tax rebates to counterbalance the tariffs, as China has done previously. Trump’s strategy: What is he trying to achieve? Trump views tariffs as a flexible economic tool, using them to pressure trade partners and support US industries. His administration argues that these tariffs will: Put pressure on Canada, Mexico, and China to reduce illegal migration and drug trafficking into the US. Protect key industries, such as steel, aluminium, and copper, which are vital to national security. Support domestic car manufacturers by imposing higher import duties on foreign vehicles. Level the playing field by introducing "reciprocal" tariffs, preventing other countries from imposing higher taxes on American exports. Generate significant revenue, which Trump claims will help fund tax cuts, government spending, and even balance the federal budget. How will these tariffs impact consumer prices? Since the tariffs will target major trading partners, the costs of everyday goods could rise. Food prices – Fresh produce from Mexico, such as avocados, tomatoes, and strawberries, may become more expensive within weeks. Alcohol and beverages – Beer, tequila, and other spirits could see significant price hikes, as Mexico supplies a large share of US agricultural imports. Electronics and automobiles – Prices may stay steady for a while due to existing inventory, but if tariffs remain in place, expect higher costs on cars and tech products. Despite warnings from economists and trade experts, Trump has played down concerns about price hikes, telling Congress, "There will be a little disturbance, but we are OK with that. It won’t be much." However, history suggests that American businesses and consumers will ultimately bear the cost, just as they did during his first term.

'To take effect immediately': What are Trump's reciprocal tariffs, and who pays them? Here's your complete guide

With US President Donald Trump&rsquo;s April 2 deadline for imposing reciprocal tariffs approaching, businesses and policymakers remain uncertain about how they will be applied. While the tariffs aim to address America&rsquo;s trade deficit, Washington is simultaneously negotiating a new trade deal with India, adding further complexity to the situation.
The impact on Indian businesses will depend on whether the tariffs are imposed at the product, sector, or country level. The US has been India&rsquo;s largest trading partner from 2021-22 to 2023-24, accounting for 18% of India&rsquo;s total exports, 6.22% of imports, and 10.73% of bilateral trade.
Also read: <a href="https://www.wionews.com/world/will-retaliate-if-necessary-eu-chief-warns-us-of-strong-plan-against-trump-tariffs-8914805">&lsquo;Will retaliate, if necessary&rsquo;: EU chief warns US of &lsquo;strong plan&rsquo; against Trump tariffs</a>
<h2>Key sectors facing higher tariffs</h2>
India exports products from 30 different sectors to the US, including six in agriculture and 24 in industry. If sector-wide tariffs are imposed, the following goods are expected to be affected:
Alcohol, Wines, and Spirits &ndash; The highest tariff hike of 122.10% will be applied, though exports in this category total only $19.2 million.
Dairy Products &ndash; Exports worth $181.49 million will be hit by a 38.23% tariff, making Indian ghee, butter, and milk powder more expensive and reducing market share.
Also read: <a href="https://www.wionews.com/world/planning-to-buy-a-new-car-heres-how-it-will-cost-an-arm-and-a-leg-after-trumps-reciprocal-tariffs-8914769">Planning to buy a new car? Here's how it will cost an arm and a leg after Trump's reciprocal tariffs</a>
Fish, Meat, and Processed Seafood &ndash; A 27.83% tariff hike will impact $2.58 billion in exports, with shrimp exports suffering the most.
Live Animals and Animal Products &ndash; A 27.75% tariff will affect exports valued at $10.31 million.
Processed Food, Sugar, and Cocoa &ndash; With $1.03 billion in exports, these products will face a 24.99% tariff, making Indian snacks and confectionery costlier in the US.
Also read: <a href="https://www.wionews.com/world/donald-trump-claims-india-going-to-drop-tariffs-substantially-ahead-of-liberation-day-8914713">'Why didn't they do it sooner?': Trump claims India 'going to drop tariffs substantially' ahead of 'Liberation Day'</a>
Footwear &ndash; This sector will see a 15.56% tariff increase.
Diamonds, Gold, and Silver &ndash; Exports worth $11.88 billion will face a 13.32% tariff hike, potentially making Indian jewellery less competitive.
Pharmaceuticals &ndash; A 10.90% tariff differential will push up prices for generic medicines and speciality drugs.
Edible Oils &ndash; Coconut and mustard oil will become more expensive with a 10.67% tariff.
<h2>Sectors unaffected</h2>
Certain industries, including ores, minerals, petroleum, and garments, will not see any new tariffs under the proposed plan.
Also read: <a href="https://www.wionews.com/world/trump-reciprocal-tariffs-liberation-day-of-confusion-day-officials-scramble-to-implement-plan-that-can-hit-india-china-canada-8914082">Liberation Day or Confusion Day? Trump reciprocal tariffs are coming, but officials don't seem to agree on how to implement</a>
(With inputs from agencies)

World: The US has been India’s largest trading partner from 2021-22 to 2023-24, accounting for 18% of India’s total exports, 6.22% of imports, and 10.73% of bilateral trade. India News

With US President Donald Trump’s April 2 deadline for imposing reciprocal tariffs approaching, businesses and policymakers remain uncertain about how they will be applied. While the tariffs aim to address America’s trade deficit, Washington is simultaneously negotiating a new trade deal with India, adding further complexity to the situation. The impact on Indian businesses will depend on whether the tariffs are imposed at the product, sector, or country level. The US has been India’s largest trading partner from 2021-22 to 2023-24, accounting for 18% of India’s total exports, 6.22% of imports, and 10.73% of bilateral trade. Also read: ‘Will retaliate, if necessary’: EU chief warns US of ‘strong plan’ against Trump tariffs Key sectors facing higher tariffs India exports products from 30 different sectors to the US, including six in agriculture and 24 in industry. If sector-wide tariffs are imposed, the following goods are expected to be affected: Alcohol, Wines, and Spirits – The highest tariff hike of 122.10% will be applied, though exports in this category total only $19.2 million. Dairy Products – Exports worth $181.49 million will be hit by a 38.23% tariff, making Indian ghee, butter, and milk powder more expensive and reducing market share. Also read: Planning to buy a new car? Here's how it will cost an arm and a leg after Trump's reciprocal tariffs Fish, Meat, and Processed Seafood – A 27.83% tariff hike will impact $2.58 billion in exports, with shrimp exports suffering the most. Live Animals and Animal Products – A 27.75% tariff will affect exports valued at $10.31 million. Processed Food, Sugar, and Cocoa – With $1.03 billion in exports, these products will face a 24.99% tariff, making Indian snacks and confectionery costlier in the US. Also read: 'Why didn't they do it sooner?': Trump claims India 'going to drop tariffs substantially' ahead of 'Liberation Day' Footwear – This sector will see a 15.56% tariff increase. Diamonds, Gold, and Silver – Exports worth $11.88 billion will face a 13.32% tariff hike, potentially making Indian jewellery less competitive. Pharmaceuticals – A 10.90% tariff differential will push up prices for generic medicines and speciality drugs. Edible Oils – Coconut and mustard oil will become more expensive with a 10.67% tariff. Sectors unaffected Certain industries, including ores, minerals, petroleum, and garments, will not see any new tariffs under the proposed plan. Also read: Liberation Day or Confusion Day? Trump reciprocal tariffs are coming, but officials don't seem to agree on how to implement (With inputs from agencies)

Price hikes incoming! Trump’s reciprocal tariffs on India hit tomorrow: Here’s how your groceries will be affected

The European Union has a &ldquo;strong plan&rdquo; to retaliate against the tariffs imposed by US President Donald Trump, but would prefer to negotiate a solution, European Commission head Ursula von der Leyen said on Tuesday (Apr 1).
The tariffs imposed on steel and aluminium by the Trump administration in March, along with higher levies on cars, will take effect on Thursday (Apr 3). Trump will also lay down plans for &ldquo;reciprocal tariffs&rdquo; on Wednesday (Apr 2).
Also read | <a href="https://www.wionews.com/world/planning-to-buy-a-new-car-heres-how-it-will-cost-an-arm-and-a-leg-after-trumps-reciprocal-tariffs-8914769">Planning to buy a new car? Here's how it will cost an arm and a leg after Trump's reciprocal tariffs</a>
<h2>&lsquo;Strong plan to retaliate&rsquo;</h2>
During a speech to the European Parliament in Strasbourg, von der Leyen said that many Europeans were &ldquo;utterly disheartened&rdquo; after US announcements.
&ldquo;Europe has not started this confrontation. We do not necessarily want to retaliate, but if it is necessary we have a strong plan to retaliate and we will use it,&rdquo; she said.
Also read | <a href="https://www.wionews.com/world/donald-trump-claims-india-going-to-drop-tariffs-substantially-ahead-of-liberation-day-8914713">'Why didn't they do it sooner?': Trump claims India 'going to drop tariffs substantially' ahead of 'Liberation Day'</a>
She said she understood US arguments that others took advantage of global trade rules and that the US wanted to re-industrialise. She added that the EU had suffered too and wanted the same.
However, the EU executive chief said the US tariffs will fuel inflation through taxes on consumers. It will also cost jobs as American factories pay more for components.
Also read | <a href="https://www.wionews.com/world/trump-reciprocal-tariffs-liberation-day-of-confusion-day-officials-scramble-to-implement-plan-that-can-hit-india-china-canada-8914082">Liberation Day or Confusion Day? Trump reciprocal tariffs are coming, but officials don't seem to agree on how to implement</a>
&ldquo;Our objective is a negotiated solution. But of course, if need be, we will protect our interests, our people, and our companies,&rdquo; she said.&nbsp;
<h2>EU internal barriers</h2>
Von der Leyen also said that the EU should diversify its trade and eliminate internal barriers to international business in its single market.
Also read | <a href="https://www.wionews.com/business-economy/us-stagflation-fears-rise-ahead-of-tariff-hit-8912665">US stagflation fears rise ahead of tariff hit</a>
According to the International Monetary Fund, Europe's internal market barriers were equal to a 45 per cent tariff for manufacturing and 110 per cent for services.
In the next month, the Commission will put forth proposals to remove some barriers and avoid new ones, she told EU lawmakers.
(With inputs from agencies)

World | The tariffs imposed on steel and aluminium by the Trump administration in March, along with higher levies on cars, will take effect on Thursday (Apr 3).

The European Union has a “strong plan” to retaliate against the tariffs imposed by US President Donald Trump, but would prefer to negotiate a solution, European Commission head Ursula von der Leyen said on Tuesday (Apr 1). The tariffs imposed on steel and aluminium by the Trump administration in March, along with higher levies on cars, will take effect on Thursday (Apr 3). Trump will also lay down plans for “reciprocal tariffs” on Wednesday (Apr 2). Also read | Planning to buy a new car? Here's how it will cost an arm and a leg after Trump's reciprocal tariffs ‘Strong plan to retaliate’ During a speech to the European Parliament in Strasbourg, von der Leyen said that many Europeans were “utterly disheartened” after US announcements. “Europe has not started this confrontation. We do not necessarily want to retaliate, but if it is necessary we have a strong plan to retaliate and we will use it,” she said. Also read | 'Why didn't they do it sooner?': Trump claims India 'going to drop tariffs substantially' ahead of 'Liberation Day' She said she understood US arguments that others took advantage of global trade rules and that the US wanted to re-industrialise. She added that the EU had suffered too and wanted the same. However, the EU executive chief said the US tariffs will fuel inflation through taxes on consumers. It will also cost jobs as American factories pay more for components. Also read | Liberation Day or Confusion Day? Trump reciprocal tariffs are coming, but officials don't seem to agree on how to implement “Our objective is a negotiated solution. But of course, if need be, we will protect our interests, our people, and our companies,” she said. EU internal barriers Von der Leyen also said that the EU should diversify its trade and eliminate internal barriers to international business in its single market. Also read | US stagflation fears rise ahead of tariff hit According to the International Monetary Fund, Europe's internal market barriers were equal to a 45 per cent tariff for manufacturing and 110 per cent for services. In the next month, the Commission will put forth proposals to remove some barriers and avoid new ones, she told EU lawmakers. (With inputs from agencies)

‘Will retaliate, if necessary’: EU chief warns US of ‘strong plan’ against Trump tariffs

Trump tariff plan a secret till last minute? US President Donald Trump's reciprocal tariffs will kick in from Wednesday (Apr 2), but there are still contradictory reports on how exactly it would be implemented. Ahead of the announcement day, which Trump described as 'Liberation Day', there is frenzied discussions inside the US administration to make it happen.
&ldquo;The president will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off this country for decades," White House press secretary Karoline Leavitt said on Monday, adding, "He&rsquo;s doing this in the best interest of the American worker.&rdquo;&nbsp;
<a href="https://www.wionews.com/business-economy/trumps-tariff-threat-shakes-up-global-oil-trade-8908842">Trump's tariff threat shakes up global oil trade</a>
The tariff plan is set to be announced at the Rose Garden in the White House on Wednesday. But as of Tuesday, reports indicate that no final decision has been made on the ways of implementing the tariffs.
<h2><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/2703_TRUMP_730AM/00000002.jpg&amp;videourl=https://vodakm.zeenews.com/vod/WION/2703_TRUMP_730AM.mp4/index.m3u8&amp;duration=188&amp;tags=trump, usa, wion" title="Donald Trump announces 25% tariffs on imported cars, car parts" id="PL_iframe_block-m8yi4242-g19ugrhc-mixkr0xr"></iframe></h2>
<h2>Reciprocal tariffs: What are the options before Trump administration?</h2>
Here are some of the proposals being discussed, as per US media reports.
&gt; Tariffs around 20 per cent of all imports to the US. This would raise import duties on products from every country instead of more targeted approaches. This is a 'universal tariff' which Trump seemed to have favoured in recent remarks, which is simpler than measures specific to each country. When he said on Sunday &ldquo;you&rsquo;d start with all countries,&rdquo; many reports interpreted it to mean that he was suggesting such a thing: same stick for all trading partners.
<a href="https://www.wionews.com/world/there-will-be-bombing-like-never-before-trump-threatens-iran-with-strikes-tariffs-over-nuclear-deal-refusal-8907621">'There will be bombing like never before': Trump threatens Iran with strikes, tariffs over nuclear deal refusal</a>
&gt; Trump could make further changes, using the 1977 International Emergency Economic Powers Act, which gives the president the powers to change international trade&nbsp;
&gt; Impose additional tariffs on sectors such as automobile and pharmaceutical imports. This is something that could particularly affect India
&gt; Try specific and different tariff rates for individual countries
&gt; One flat rate on imports of between 15 per cent and 25 per cent&nbsp;
<a href="https://www.wionews.com/business-economy/us-stagflation-fears-rise-ahead-of-tariff-hit-8912665">US stagflation fears rise ahead of tariff hit</a>
&gt; Exemptions on import of products that the US does not manufacture
&gt; Announce specific tariffs for specific sectors, which will be higher than a flat rate. These sectors are most likely to be auto, copper, pharma and timber. When and at which rates it will be implemented is not clear.
&gt; A specific tariff number for each country. This plan is problematic as US trade partners can resort to round-tripping, sending items via third countries that are not affected by the tariffs.
<h2>A man-made recession: How will the reciprocal tariffs affect US?&nbsp;</h2>
The tariffs, if implemented, will kick in for the April-June quarter. There's widespread fear that the plan could lead to stock market turmoil, and even hit the global economy.
The US could most likely plunge into a man-made recession for at least a year.&nbsp; The cost of living could go up, as many products imported by the US will become dearer.
<a href="https://www.wionews.com/world/us-claims-india-imposes-100-tariff-on-american-agricultural-products-time-for-reciprocity-says-white-house-8911844">US claims India imposes 100% tariff on American agricultural products, 'time for reciprocity,' says White House</a>
There is also the possibility of a rise in joblessness in the US.&nbsp;
US trading partners like China, Canada and Mexico have vowed countermeasures, while India has been trying to reach a negotiated settlement.
(With inputs from agencies) 
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&nbsp;
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Business & Economy | World : Trump reciprocal tariffs - What are the proposals being discussed? There is a lot of confusion just a day ahead of Liberation Day

Trump tariff plan a secret till last minute? US President Donald Trump's reciprocal tariffs will kick in from Wednesday (Apr 2), but there are still contradictory reports on how exactly it would be implemented. Ahead of the announcement day, which Trump described as 'Liberation Day', there is frenzied discussions inside the US administration to make it happen. “The president will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off this country for decades," White House press secretary Karoline Leavitt said on Monday, adding, "He’s doing this in the best interest of the American worker.” Trump's tariff threat shakes up global oil trade The tariff plan is set to be announced at the Rose Garden in the White House on Wednesday. But as of Tuesday, reports indicate that no final decision has been made on the ways of implementing the tariffs. Reciprocal tariffs: What are the options before Trump administration? Here are some of the proposals being discussed, as per US media reports. > Tariffs around 20 per cent of all imports to the US. This would raise import duties on products from every country instead of more targeted approaches. This is a 'universal tariff' which Trump seemed to have favoured in recent remarks, which is simpler than measures specific to each country. When he said on Sunday “you’d start with all countries,” many reports interpreted it to mean that he was suggesting such a thing: same stick for all trading partners. 'There will be bombing like never before': Trump threatens Iran with strikes, tariffs over nuclear deal refusal > Trump could make further changes, using the 1977 International Emergency Economic Powers Act, which gives the president the powers to change international trade > Impose additional tariffs on sectors such as automobile and pharmaceutical imports. This is something that could particularly affect India > Try specific and different tariff rates for individual countries > One flat rate on imports of between 15 per cent and 25 per cent US stagflation fears rise ahead of tariff hit > Exemptions on import of products that the US does not manufacture > Announce specific tariffs for specific sectors, which will be higher than a flat rate. These sectors are most likely to be auto, copper, pharma and timber. When and at which rates it will be implemented is not clear. > A specific tariff number for each country. This plan is problematic as US trade partners can resort to round-tripping, sending items via third countries that are not affected by the tariffs. A man-made recession: How will the reciprocal tariffs affect US? The tariffs, if implemented, will kick in for the April-June quarter. There's widespread fear that the plan could lead to stock market turmoil, and even hit the global economy. The US could most likely plunge into a man-made recession for at least a year. The cost of living could go up, as many products imported by the US will become dearer. US claims India imposes 100% tariff on American agricultural products, 'time for reciprocity,' says White House There is also the possibility of a rise in joblessness in the US. US trading partners like China, Canada and Mexico have vowed countermeasures, while India has been trying to reach a negotiated settlement. (With inputs from agencies)

Liberation Day or Confusion Day? Trump reciprocal tariffs are coming, but officials don't seem to agree on how to implement

Mark Carney was officially sworn in as Canada&rsquo;s prime minister on Friday (March 14) during a ceremony at Rideau Hall in Ottawa. In his first speech as leader, Carney said that his government would focus on safeguarding Canadian workers and their families from "unjustified foreign trade actions," referring to the tariffs recently imposed by US President Donald Trump.
<h2>'Negativity won&rsquo;t win a trade war'</h2>
Addressing the issue further, Carney said, "Negativity won&rsquo;t win a trade war," nor will it help lower grocery prices. He assured Canadians that his government is united and ready to act.
Also read: <a href="https://www.wionews.com/world/who-is-mark-carney-canadas-new-pm-tasked-with-handling-the-crisis-called-trump-8854192">Who is Mark Carney? Canada&rsquo;s new PM tasked with handling the 'crisis'&nbsp;called&nbsp;Trump</a>
Immediately following his speech, Carney said that his new cabinet would convene for its first meeting.
<h2>Carney on US relations and trade</h2>
Responding to the question from the press, whether he intended to meet President Trump, Carney said that his initial foreign visits would be to France and the UK, prioritising discussions on security and trade diversification.
At present, he said, there are "no plans" for a meeting with Trump but told reporters that one would take place "at the appropriate moment."&nbsp;
Also read: <a href="https://www.wionews.com/world/mark-carney-justin-trudeau-sworn-in-as-canadas-new-prime-minister-vows-to-get-straight-to-work-8854150">'Will get straight to work': Mark Carney sworn in as Canada&rsquo;s new prime minister</a>
Asked again about US-Canada relations Carney said he "looks forward" to speaking with President Trump. The prime minister said he understands Trump's agenda and the goal of getting rid of the "scourge" of fentanyl, which affects Canada as well. But he wants Trump to understand the importance the country puts on Canadian jobs and workers.
Carney was also asked about comments made by US Secretary of State Marco Rubio at the ongoing G7 foreign ministers' meeting in Quebec. Rubio had claimed that "economically speaking, Canada would be better as the 51st state of the United States." Carney dismissed the suggestion outright, calling it "crazy."
<h2>Canada&rsquo;s future and upcoming elections</h2>
The prime minister was questioned about when Canadians could expect to vote, to which he responded that an election would be held &ldquo;before November.&rdquo; 
"There will be other news in the coming days with respect to ensuring that we have a stronger mandate," he told reporters.
Also read: <a href="https://www.wionews.com/world/no-legacy-justin-trudeau-jeered-and-booed-as-he-leaves-parliament-for-last-time-as-canada-pm-watch-video-8852731">'No Legacy': Justin Trudeau jeered and booed as he leaves parliament for last time as Canada PM | Watch video</a>
Carney was then asked if he intended to seek reassurances from European leaders that Canada would never become the "51st state" of the US, as President Trump had recently suggested. "We will never, in any shape or form, be part of the US," he asserted, reiterating his previous stance on the matter.
The prime minister listed the fundamental differences between Canada and the US, saying that the ceremony and government behind him were "nothing like America&rsquo;s system of government." He added that Canada "expects respect" from the US and its leadership.
Carney also made it clear that his government would respond to American economic pressure by strengthening Canada&rsquo;s economy rather than relying on external assistance. "We&rsquo;re masters in our home. We&rsquo;re in charge," he said.
Also read: <a href="https://www.wionews.com/world/us-president-donald-trump-meets-with-irish-prime-minister-micheal-martin-trump-tariff-eu-canada-slap-retaliatory-tariffs-8848063">&lsquo;Won&rsquo;t be abused any longer&rsquo;: Trump vows to &lsquo;win financial battle&rsquo; as EU, Canada slap retaliatory tariffs</a>
<h2>Running for parliament</h2>
Carney also addressed where he would run in the upcoming election. As the first Canadian prime minister never to have served as a member of Parliament, he must secure a seat once the election is called. However, he declined to announce his chosen constituency, saying, "Today is not the day to announce that I will run."
(With inputs from agencies)

World: Carney was then asked if he intended to seek reassurances from European leaders that Canada would never become the "51st state" of the US, as President Trump had recently suggested.

Mark Carney was officially sworn in as Canada’s prime minister on Friday (March 14) during a ceremony at Rideau Hall in Ottawa. In his first speech as leader, Carney said that his government would focus on safeguarding Canadian workers and their families from "unjustified foreign trade actions," referring to the tariffs recently imposed by US President Donald Trump. 'Negativity won’t win a trade war' Addressing the issue further, Carney said, "Negativity won’t win a trade war," nor will it help lower grocery prices. He assured Canadians that his government is united and ready to act. Also read: Who is Mark Carney? Canada’s new PM tasked with handling the 'crisis' called Trump Immediately following his speech, Carney said that his new cabinet would convene for its first meeting. Carney on US relations and trade Responding to the question from the press, whether he intended to meet President Trump, Carney said that his initial foreign visits would be to France and the UK, prioritising discussions on security and trade diversification. At present, he said, there are "no plans" for a meeting with Trump but told reporters that one would take place "at the appropriate moment." Also read: 'Will get straight to work': Mark Carney sworn in as Canada’s new prime minister Asked again about US-Canada relations Carney said he "looks forward" to speaking with President Trump. The prime minister said he understands Trump's agenda and the goal of getting rid of the "scourge" of fentanyl, which affects Canada as well. But he wants Trump to understand the importance the country puts on Canadian jobs and workers. Carney was also asked about comments made by US Secretary of State Marco Rubio at the ongoing G7 foreign ministers' meeting in Quebec. Rubio had claimed that "economically speaking, Canada would be better as the 51st state of the United States." Carney dismissed the suggestion outright, calling it "crazy." Canada’s future and upcoming elections The prime minister was questioned about when Canadians could expect to vote, to which he responded that an election would be held “before November.” "There will be other news in the coming days with respect to ensuring that we have a stronger mandate," he told reporters. Also read: 'No Legacy': Justin Trudeau jeered and booed as he leaves parliament for last time as Canada PM | Watch video Carney was then asked if he intended to seek reassurances from European leaders that Canada would never become the "51st state" of the US, as President Trump had recently suggested. "We will never, in any shape or form, be part of the US," he asserted, reiterating his previous stance on the matter. The prime minister listed the fundamental differences between Canada and the US, saying that the ceremony and government behind him were "nothing like America’s system of government." He added that Canada "expects respect" from the US and its leadership. Carney also made it clear that his government would respond to American economic pressure by strengthening Canada’s economy rather than relying on external assistance. "We’re masters in our home. We’re in charge," he said. Also read: ‘Won’t be abused any longer’: Trump vows to ‘win financial battle’ as EU, Canada slap retaliatory tariffs Running for parliament Carney also addressed where he would run in the upcoming election. As the first Canadian prime minister never to have served as a member of Parliament, he must secure a seat once the election is called. However, he declined to announce his chosen constituency, saying, "Today is not the day to announce that I will run." (With inputs from agencies)

‘We will never be part of US’: New Canadian PM Mark Carney calls ‘51st state’ idea ‘crazy’ in first speech

President Donald Trump on Wednesday (March 12) defended his decision to impose tariffs on steel and aluminium, insisting that it would bring fairness to US trade. His comments came as major trade partners including the&nbsp;EU and Canada announced retaliatory measures against the new US tariffs.
"We've been abused for a long time and we will be abused no longer," Trump said during a meeting with Irish Prime Minister Miche&aacute;l Martin.
Also read: <a href="https://www.wionews.com/world/arab-country-to-soon-deliver-trumps-letter-to-iran-days-after-us-prez-hints-at-final-strokes-with-tehran-8846987">Iran receives Trump's letter delivered by UAE official days after US prez hints at 'final strokes' with Tehran</a>
Shortly after the meeting began, Trump, without being asked, brought up the issue of tariffs, particularly the concept of reciprocal tariffs. "I don't know why people get upset about that," he said. "There's nothing more fair than that."
<h2>US to respond to EU tariffs</h2>
Trump also pledged that the US would respond to the European Union&rsquo;s decision to impose tariffs on $28 billion worth of American goods from 1 April. The EU's move was a direct response to the new US steel and aluminum tariffs.
"Of course we'll respond," Trump said during the meeting with Martin, held on the same day the US tariffs officially took effect.
Also read: <a href="https://www.wionews.com/world/until-threat-is-gone-for-good-canada-hits-us-with-207-bn-tariffs-over-unjustified-steel-levies-8847776">&lsquo;Until threat is gone for good&rsquo;: Canada hits US with $20.7bn tariffs over &lsquo;unjustified&rsquo; steel levies</a>
At one point, he argued that the EU had been created to "take advantage of the United States." However, he added that he had "great respect" for Ireland and other nations that had attracted US-owned companies, particularly in the pharmaceutical sector.
"The United States shouldn't let it happen," he added.
Trump went on to criticise past US leaders for allowing such trade imbalances, saying, "We had stupid leaders. We had leaders that didn't have a clue. Let's say they weren't business people. They didn't have a clue what was happening."
Also read: <a href="https://www.wionews.com/world/trump-tariff-trump-trade-war-european-union-slaps-283b-in-tariffs-on-us-goods-after-trumps-metal-duties-8847083">&lsquo;Bad for business, worse for consumers&rsquo;: EU slaps tariffs on $28.3bn US goods after Trump&rsquo;s metal duties</a>
<h2>Clash with Canada over electricity tariffs</h2>
Trump also commented on the recent tariff dispute with Canada. Ontario Premier Doug Ford had announced a plan to impose a 25% tariff on electricity supplied to certain US states, although the move was later suspended.
In response, the Trump administration had threatened to raise US tariffs on Canadian steel and metal imports to 50%.
Also read: <a href="https://www.wionews.com/world/not-helping-us-slams-india-for-150-tariff-on-american-alcohol-says-trump-believes-in-reciprocity-8846649">'Not helping': US slams India for 150% tariff on American alcohol, says 'Trump believes in reciprocity'</a>
"[We] let them know what we were going to be doing. They dropped it immediately," Trump explained. "I'm glad. Playing with electricity affects people's lives," he added.
(With inputs from agencies)

World: "We've been abused for a long time and we will be abused no longer," US President Donald Trump said during a meeting with Irish Prime Minister Micheál Martin.

President Donald Trump on Wednesday (March 12) defended his decision to impose tariffs on steel and aluminium, insisting that it would bring fairness to US trade. His comments came as major trade partners including the EU and Canada announced retaliatory measures against the new US tariffs. "We've been abused for a long time and we will be abused no longer," Trump said during a meeting with Irish Prime Minister Micheál Martin. Also read: Iran receives Trump's letter delivered by UAE official days after US prez hints at 'final strokes' with Tehran Shortly after the meeting began, Trump, without being asked, brought up the issue of tariffs, particularly the concept of reciprocal tariffs. "I don't know why people get upset about that," he said. "There's nothing more fair than that." US to respond to EU tariffs Trump also pledged that the US would respond to the European Union’s decision to impose tariffs on $28 billion worth of American goods from 1 April. The EU's move was a direct response to the new US steel and aluminum tariffs. "Of course we'll respond," Trump said during the meeting with Martin, held on the same day the US tariffs officially took effect. Also read: ‘Until threat is gone for good’: Canada hits US with $20.7bn tariffs over ‘unjustified’ steel levies At one point, he argued that the EU had been created to "take advantage of the United States." However, he added that he had "great respect" for Ireland and other nations that had attracted US-owned companies, particularly in the pharmaceutical sector. "The United States shouldn't let it happen," he added. Trump went on to criticise past US leaders for allowing such trade imbalances, saying, "We had stupid leaders. We had leaders that didn't have a clue. Let's say they weren't business people. They didn't have a clue what was happening." Also read: ‘Bad for business, worse for consumers’: EU slaps tariffs on $28.3bn US goods after Trump’s metal duties Clash with Canada over electricity tariffs Trump also commented on the recent tariff dispute with Canada. Ontario Premier Doug Ford had announced a plan to impose a 25% tariff on electricity supplied to certain US states, although the move was later suspended. In response, the Trump administration had threatened to raise US tariffs on Canadian steel and metal imports to 50%. Also read: 'Not helping': US slams India for 150% tariff on American alcohol, says 'Trump believes in reciprocity' "[We] let them know what we were going to be doing. They dropped it immediately," Trump explained. "I'm glad. Playing with electricity affects people's lives," he added. (With inputs from agencies)

‘Won’t be abused any longer’: Trump vows to ‘win financial battle’ as EU, Canada slap retaliatory tariffs

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