<p>US President Donald Trump said on Sunday (May 25) that he will delay the 50 per cent tariff on imports from the European Union, extending his deadline for trade talks from June 1 until July 9.</p><p>&nbsp;</p><p>This comes after Trump had a call with the European Commission President, Ursula von der Leyen. According to Trump, she “wants to get down to serious negotiations.”</p><p>&nbsp;</p><p>“I told anybody that would listen, they have to do that,” Trump told reporters on Sunday in Morristown, New Jersey. Trump added that Von der Leyen vowed to “rapidly get together and see if we can work something out.”</p><p>&nbsp;</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/trump-calls-iran-us-nuclear-talks-very-very-good-says-good-news-soon-1748229109094"><strong>Trump calls Iran-US nuclear talks 'very, very good,' says 'good news' soon</strong></a></p><p>&nbsp;</p><p>Earlier on Friday (May 23), Trump threatened to impose a 50 per cent tariff starting June 1, claiming that the 27-member bloc had been “very difficult to deal with” on trade, adding that the negotiations were “going nowhere”.</p><p>&nbsp;</p><p>“The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” Trump had said.</p><p>&nbsp;</p><p><strong>Also read | </strong><a href="https://www.wionews.com/world/at-least-11-injured-in-south-carolina-beach-town-mass-shooting-1748229383570"><strong>At least 11 injured in South Carolina beach town mass shooting</strong></a></p><p>&nbsp;</p><p>However, on Sunday, the president said, “I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union. I agreed to the extension — July 9, 2025 — It was my privilege to do so. The Commission President said that talks will begin rapidly. Thank you for your attention to this matter!”</p><p>&nbsp;</p><p>Meanwhile, Von der Leyen said that the “EU and US share the world's most consequential and close trade relationship.”</p><p>&nbsp;</p><p>She added, “Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9.”</p>

This comes after Trump had a call with the European Commission President, Ursula von der Leyen. According to Trump, she “wants to get down to serious negotiations.”

US President Donald Trump said on Sunday (May 25) that he will delay the 50 per cent tariff on imports from the European Union, extending his deadline for trade talks from June 1 until July 9. This comes after Trump had a call with the European Commission President, Ursula von der Leyen. According to Trump, she “wants to get down to serious negotiations.” “I told anybody that would listen, they have to do that,” Trump told reporters on Sunday in Morristown, New Jersey. Trump added that Von der Leyen vowed to “rapidly get together and see if we can work something out.” Also read | Trump calls Iran-US nuclear talks 'very, very good,' says 'good news' soon Earlier on Friday (May 23), Trump threatened to impose a 50 per cent tariff starting June 1, claiming that the 27-member bloc had been “very difficult to deal with” on trade, adding that the negotiations were “going nowhere”. “The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” Trump had said. Also read | At least 11 injured in South Carolina beach town mass shooting However, on Sunday, the president said, “I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union. I agreed to the extension — July 9, 2025 — It was my privilege to do so. The Commission President said that talks will begin rapidly. Thank you for your attention to this matter!” Meanwhile, Von der Leyen said that the “EU and US share the world's most consequential and close trade relationship.” She added, “Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9.”

<p>This comes after Trump had a call with the European Commission President, Ursula von der Leyen. According to Trump, she “wants to get down to serious negotiations.”</p>

Trump delays 50% EU tariffs until July 9 after talks with European Commission President

<p>US President Donald Trump on May 23 reignited fears of a transatlantic trade war, announcing plans to impose a 50 per cent tariff on all European Union (EU) imports starting June 1, unless the bloc makes major concessions in ongoing trade talks.</p><p>The surprise move, made via Trump’s Truth Social account, sent shockwaves through global financial markets and drew sharp rebukes from EU leaders. The announcement comes as negotiations between Washington and Brussels have stalled, with the US pushing for more favourable terms for the trade deal and the EU resisting unilateral demands.</p><p>In his post on Truth Social, Trump said, “The European Union, which was formed for the primary purpose of taking advantage of the United States on trade, has been very difficult to deal with. Their powerful trade barriers, VAT taxes, ridiculous corporate penalties, non-monetary trade barriers, monetary manipulations, unfair and unjustified lawsuits against American companies, and more have led to a trade deficit with the US of more than $250,000,000 a year, a number which is totally unacceptable.”</p><p>“Our discussions with them are going nowhere! Therefore, I am recommending a straight 50 per cent tariff on the European Union, starting on June 1, 2025. There is no tariff if the product is built or manufactured in the United States,” he added.</p><p>The comments marked a dramatic shift after weeks of de-escalation and a temporary 90-day pause in reciprocal tariffs that had offered a brief reprieve for global markets.</p><p>The markets responded with immediate volatility. US and European stocks plunged, with Germany’s DAX down 2.4 per cent, France’s CAC falling 2.2 per cent, and the STOXX600 sliding 1.7 per cent. The US dollar weakened sharply, while gold prices surged as investors sought safety. US Treasury yields also fell amid fears of a potential economic slowdown.</p><p>The White House’s plan to double down on tariffs was reportedly driven by frustration over slow EU negotiations. Treasury Secretary Scott Bessent said the president is dissatisfied with the EU’s offers.</p><p>“The president believes the EU’s proposals have not matched the quality of offers we’ve seen from other key partners,” Bessent told Fox News. “I would hope this would light a fire under the EU.”</p><p>The proposed tariff also threatens to raise costs for a broad swath of consumer and industrial goods in the United States, ranging from German cars to Italian olive oil and French cosmetics. In 2024, the EU exported goods worth approximately €500 billion ($566 billion) to the US, led by Germany (€161 billion), Ireland (€72 billion), and Italy (€65 billion). Many of these goods are crucial components in American manufacturing supply chains.</p><p>Ocean freight data from logistics platforms indicate that after a dip earlier in the year, EU-to-US shipments had begun to recover. Analysts now warn that the threat of a 50 per cent tariff could cause ocean freight orders to contract again, complicating logistics and increasing costs for US-based producers.</p><p>The US ran a $236 billion goods trade deficit with the EU in 2024, according to data from the Commerce Department, with key imports including automobiles, pharmaceuticals, chemicals, and aircraft components.</p><p>American manufacturers have already raised concerns that key inputs from Europe would become significantly more expensive. This could erode competitiveness, delay production timelines, and reduce investment incentives for companies that rely on transatlantic supply chains.</p><p>Trump had previously lowered his 145 per cent tariff on Chinese goods to 30 per cent and retained a 10 per cent baseline tariff on most global imports. The 50 per cent figure now proposed for the EU significantly exceeds previous reciprocal tariffs, which had peaked at 20 per cent earlier this year.</p><p>&nbsp;</p><p><strong>EU pushes back</strong></p><p>&nbsp;</p><p>European leaders swiftly denounced the move and warned of possible retaliation. EU trade chief Maroš Šefčovič emphasised that Brussels remains committed to a deal but will defend its interests if provoked.</p><p>“EU-US trade must be guided by mutual respect, not threats,” Šefčovič posted on X. “We stand ready to defend our interests.”</p><p>French Trade Minister Laurent Saint-Martin criticised Trump’s comments as “unhelpful”, and Irish Prime Minister Micheál Martin warned the tariffs would “grievously damage one of the world’s most dynamic and significant trading relationships.”</p><p>The EU has already paused tariffs on €23 billion ($26.15 billion) worth of US goods and has prepared up to €95 billion ($1.08 trillion) in countermeasures if talks fail. These could affect sectors ranging from aviation to spirits and technology services—a crucial part of the US economy.</p><p>Julian Hinz, a researcher at the Kiel Institute for the World Economy, estimated that a 50 per cent tariff could reduce US GDP by 1.5 per cent, while Capital Economics projected Ireland, the EU’s most trade-dependent country with the US, could see a 4 per cent hit to its economy.</p><p>&nbsp;</p><p><strong>Strategic tensions and policy uncertainty</strong></p><p>&nbsp;</p><p>Beyond the economic costs, the proposed tariffs have strategic implications. The Trump administration is pushing the EU to align more closely with US policy on China, including coordinated tariffs on Chinese goods and curbs on market access. However, EU policymakers have been cautious, concerned that a confrontational stance toward China could hurt their own export-dependent economies.</p><p>The US has also expressed frustration over Europe's insistence on mutual tariff reductions and its proposed digital services taxes targeting American technology giants. Negotiations have been hindered by the EU’s need to secure consensus among its 27 member states, a process that the Trump administration views as too slow and fragmented.</p><p>Experts say the lack of a clear negotiating framework and Trump’s erratic style add further uncertainty. In prior trade disputes, such as with China and Mexico, Trump has escalated tariffs quickly and then reversed course when faced with market backlash. The unpredictability has made long-term planning difficult for companies and weakened confidence in the US as a stable trade partner.</p><p>The broader geopolitical context also looms large. With tensions rising across multiple fronts, including with China, Mexico, and now the EU, analysts warn that prolonged tariff battles could result in global supply chain disruptions and a downturn in cross-border investment.</p><p>&nbsp;</p><p><strong>Deadline pressure and potential economic fallout</strong></p><p>&nbsp;</p><p>The June 1 deadline now looms as a critical flashpoint in global trade. While trade talks are expected to continue in Paris, the positions remain far apart. The EU has already suspended tariffs on $26 billion worth of US goods and has prepared retaliatory measures on up to $108 billion in exports should negotiations break down.</p><p>Economic projections underscore the stakes. The Kiel Institute for the World Economy estimates a potential 1.5 per cent drop in US GDP if the tariff is implemented. Capital Economics projects that Ireland could see a 4 per cent hit to its output, with Germany, Italy, France, and Spain also suffering notable slowdowns.</p><p>Adding to the fragility, Moody’s recently downgraded the US credit outlook, citing concerns about rising debt and the erratic nature of trade and fiscal policy. With a $36 trillion debt burden and uncertainty surrounding the future of US tax policy, investor sentiment remains fragile.</p><p>As June 1 approaches, businesses, policymakers, and financial markets are bracing for what could become the most disruptive episode in US-EU trade relations in decades. Whether the tariff is ultimately a bargaining tactic or a firm policy shift, the fallout—economic, political, and strategic—could reshape transatlantic commerce well beyond 2025.</p>

Economic projections estimate a potential 1.5 per cent drop in US GDP if the tariff is implemented and Capital Economics projects that Ireland could see a 4 per cent hit to its output, with Germany, Italy, France, and Spain also suffering notable slowdowns.

US President Donald Trump on May 23 reignited fears of a transatlantic trade war, announcing plans to impose a 50 per cent tariff on all European Union (EU) imports starting June 1, unless the bloc makes major concessions in ongoing trade talks. The surprise move, made via Trump’s Truth Social account, sent shockwaves through global financial markets and drew sharp rebukes from EU leaders. The announcement comes as negotiations between Washington and Brussels have stalled, with the US pushing for more favourable terms for the trade deal and the EU resisting unilateral demands. In his post on Truth Social, Trump said, “The European Union, which was formed for the primary purpose of taking advantage of the United States on trade, has been very difficult to deal with. Their powerful trade barriers, VAT taxes, ridiculous corporate penalties, non-monetary trade barriers, monetary manipulations, unfair and unjustified lawsuits against American companies, and more have led to a trade deficit with the US of more than $250,000,000 a year, a number which is totally unacceptable.” “Our discussions with them are going nowhere! Therefore, I am recommending a straight 50 per cent tariff on the European Union, starting on June 1, 2025. There is no tariff if the product is built or manufactured in the United States,” he added. The comments marked a dramatic shift after weeks of de-escalation and a temporary 90-day pause in reciprocal tariffs that had offered a brief reprieve for global markets. The markets responded with immediate volatility. US and European stocks plunged, with Germany’s DAX down 2.4 per cent, France’s CAC falling 2.2 per cent, and the STOXX600 sliding 1.7 per cent. The US dollar weakened sharply, while gold prices surged as investors sought safety. US Treasury yields also fell amid fears of a potential economic slowdown. The White House’s plan to double down on tariffs was reportedly driven by frustration over slow EU negotiations. Treasury Secretary Scott Bessent said the president is dissatisfied with the EU’s offers. “The president believes the EU’s proposals have not matched the quality of offers we’ve seen from other key partners,” Bessent told Fox News. “I would hope this would light a fire under the EU.” The proposed tariff also threatens to raise costs for a broad swath of consumer and industrial goods in the United States, ranging from German cars to Italian olive oil and French cosmetics. In 2024, the EU exported goods worth approximately €500 billion ($566 billion) to the US, led by Germany (€161 billion), Ireland (€72 billion), and Italy (€65 billion). Many of these goods are crucial components in American manufacturing supply chains. Ocean freight data from logistics platforms indicate that after a dip earlier in the year, EU-to-US shipments had begun to recover. Analysts now warn that the threat of a 50 per cent tariff could cause ocean freight orders to contract again, complicating logistics and increasing costs for US-based producers. The US ran a $236 billion goods trade deficit with the EU in 2024, according to data from the Commerce Department, with key imports including automobiles, pharmaceuticals, chemicals, and aircraft components. American manufacturers have already raised concerns that key inputs from Europe would become significantly more expensive. This could erode competitiveness, delay production timelines, and reduce investment incentives for companies that rely on transatlantic supply chains. Trump had previously lowered his 145 per cent tariff on Chinese goods to 30 per cent and retained a 10 per cent baseline tariff on most global imports. The 50 per cent figure now proposed for the EU significantly exceeds previous reciprocal tariffs, which had peaked at 20 per cent earlier this year. EU pushes back European leaders swiftly denounced the move and warned of possible retaliation. EU trade chief Maroš Šefčovič emphasised that Brussels remains committed to a deal but will defend its interests if provoked. “EU-US trade must be guided by mutual respect, not threats,” Šefčovič posted on X. “We stand ready to defend our interests.” French Trade Minister Laurent Saint-Martin criticised Trump’s comments as “unhelpful”, and Irish Prime Minister Micheál Martin warned the tariffs would “grievously damage one of the world’s most dynamic and significant trading relationships.” The EU has already paused tariffs on €23 billion ($26.15 billion) worth of US goods and has prepared up to €95 billion ($1.08 trillion) in countermeasures if talks fail. These could affect sectors ranging from aviation to spirits and technology services—a crucial part of the US economy. Julian Hinz, a researcher at the Kiel Institute for the World Economy, estimated that a 50 per cent tariff could reduce US GDP by 1.5 per cent, while Capital Economics projected Ireland, the EU’s most trade-dependent country with the US, could see a 4 per cent hit to its economy. Strategic tensions and policy uncertainty Beyond the economic costs, the proposed tariffs have strategic implications. The Trump administration is pushing the EU to align more closely with US policy on China, including coordinated tariffs on Chinese goods and curbs on market access. However, EU policymakers have been cautious, concerned that a confrontational stance toward China could hurt their own export-dependent economies. The US has also expressed frustration over Europe's insistence on mutual tariff reductions and its proposed digital services taxes targeting American technology giants. Negotiations have been hindered by the EU’s need to secure consensus among its 27 member states, a process that the Trump administration views as too slow and fragmented. Experts say the lack of a clear negotiating framework and Trump’s erratic style add further uncertainty. In prior trade disputes, such as with China and Mexico, Trump has escalated tariffs quickly and then reversed course when faced with market backlash. The unpredictability has made long-term planning difficult for companies and weakened confidence in the US as a stable trade partner. The broader geopolitical context also looms large. With tensions rising across multiple fronts, including with China, Mexico, and now the EU, analysts warn that prolonged tariff battles could result in global supply chain disruptions and a downturn in cross-border investment. Deadline pressure and potential economic fallout The June 1 deadline now looms as a critical flashpoint in global trade. While trade talks are expected to continue in Paris, the positions remain far apart. The EU has already suspended tariffs on $26 billion worth of US goods and has prepared retaliatory measures on up to $108 billion in exports should negotiations break down. Economic projections underscore the stakes. The Kiel Institute for the World Economy estimates a potential 1.5 per cent drop in US GDP if the tariff is implemented. Capital Economics projects that Ireland could see a 4 per cent hit to its output, with Germany, Italy, France, and Spain also suffering notable slowdowns. Adding to the fragility, Moody’s recently downgraded the US credit outlook, citing concerns about rising debt and the erratic nature of trade and fiscal policy. With a $36 trillion debt burden and uncertainty surrounding the future of US tax policy, investor sentiment remains fragile. As June 1 approaches, businesses, policymakers, and financial markets are bracing for what could become the most disruptive episode in US-EU trade relations in decades. Whether the tariff is ultimately a bargaining tactic or a firm policy shift, the fallout—economic, political, and strategic—could reshape transatlantic commerce well beyond 2025.

<p>Economic projections estimate a potential 1.5 per cent drop in US GDP if the tariff is implemented and Capital Economics projects that Ireland could see a 4 per cent hit to its output, with Germany, Italy, France, and Spain also suffering notable slowdowns.</p>

Trade war reload: Trump threatens EU with massive tariff

<p>Shortly after calling for a 50 per cent tariff on the European Union, which will start from June 1, President Trump said there is no tariff.&nbsp;</p><p>During an executive order signing, a Fox News reporter asked, “Mr President, you are a deal maker, deal breaker, what are you trying to achieve with a 50 per cent tariff on the EU?"</p><p>President Trump replied, “Well, I think there is no tariff, what they will do, they will send their companies into the US and build their plants…if they built their plant here, then they have no tariff at all."</p><p>When the reporter again asked if he is looking for a deal in nine days, Trump replied, “I am not looking for a deal, we have set the deal at 50 per cent."</p><p>“The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” Trump wrote on Truth Social.&nbsp;</p><p>Trump is not actually trying to make a deal. He is just threatening a massive tariff and hoping Europe caves so their companies come crawling to the US.&nbsp;</p><p>The EU “has been very difficult to deal with,” Trump wrote of the 27-nation bloc. “Our discussions with them are going nowhere!”</p><p>“It's time we play the game the way I know how to play the game,” said Trump.</p><p>“EU-US trade is unmatched &amp; must be guided by mutual respect, not threats. We stand ready to defend our interests,” said the EU Trade Commissioner Maros Sefcovic.&nbsp;</p><p>It will take numerous years for companies to move their facilities to the US and the cost will be massive. Corporations will just pass the cost on to the consumer. Critics argue that this economic intimidation and the sentiment that companies will cave under US pressure is just wishful thinking.&nbsp;</p>

After announcing a 50% tariff on the EU starting June 1, Donald Trump claimed there is “no tariff” if companies relocate to the US. Critics call it economic intimidation, while the EU vows to defend its interests.

Shortly after calling for a 50 per cent tariff on the European Union, which will start from June 1, President Trump said there is no tariff. During an executive order signing, a Fox News reporter asked, “Mr President, you are a deal maker, deal breaker, what are you trying to achieve with a 50 per cent tariff on the EU?" President Trump replied, “Well, I think there is no tariff, what they will do, they will send their companies into the US and build their plants…if they built their plant here, then they have no tariff at all." When the reporter again asked if he is looking for a deal in nine days, Trump replied, “I am not looking for a deal, we have set the deal at 50 per cent." “The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” Trump wrote on Truth Social. Trump is not actually trying to make a deal. He is just threatening a massive tariff and hoping Europe caves so their companies come crawling to the US. The EU “has been very difficult to deal with,” Trump wrote of the 27-nation bloc. “Our discussions with them are going nowhere!” “It's time we play the game the way I know how to play the game,” said Trump. “EU-US trade is unmatched & must be guided by mutual respect, not threats. We stand ready to defend our interests,” said the EU Trade Commissioner Maros Sefcovic. It will take numerous years for companies to move their facilities to the US and the cost will be massive. Corporations will just pass the cost on to the consumer. Critics argue that this economic intimidation and the sentiment that companies will cave under US pressure is just wishful thinking.

<p>After announcing a 50% tariff on the EU starting June 1, Donald Trump claimed there is “no tariff” if companies relocate to the US. Critics call it economic intimidation, while the EU vows to defend its interests.</p>

There is no tariff- Except the 50% one that’s totally non-negotiable: Trump on EU tariff

<p>United States President Donald Trump has reignited trade tensions with a dramatic tariff threat against Apple Inc., warning that all iPhones and smartphones sold in the US but not manufactured locally could soon face a 25 per cent import duty.</p><p>“I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a tariff of at least 25 per cent must be paid by Apple to the US,” Trump said in a Truth Social post.</p><p>During a White House press event, Trump confirmed the tariffs would extend to all smartphone brands, including South Korea’s Samsung, declaring, “It would be also Samsung and anybody that makes that product. Otherwise, it wouldn’t be fair.” He added that the tariffs could take effect by the end of June.</p><p>The announcement sent Apple shares tumbling nearly 3 per cent on May 23, deepening a stock decline of over 20 per cent since Trump returned to office.</p><p>Recently, in a series of public statements and a post on Truth Social, Trump insisted that Apple must relocate its iPhone assembly operations to the United States, rejecting its current production strategies that prioritise China and increasingly, India.</p><p>&nbsp;</p><p><strong>Rise of India as Apple’s new factory hub</strong></p><p>&nbsp;</p><p>As Apple continues to diversify its supply chain away from China amid geopolitical tensions and rising costs, India has rapidly emerged as a key manufacturing alternative. According to India’s Commerce Ministry data, Apple assembled $22 billion worth of iPhones in India in FY25 (April 2024 to March 2025)—a 60 per cent increase from the previous year. India now accounts for 18 per cent of global iPhone output, up from just 7 per cent in 2022, and is projected to hit 32 per cent by the end of 2025.</p><p>This growth is fuelled by major investments from Apple suppliers. Foxconn recently announced a $1.5 billion investment in a new component facility in Tamil Nadu, expected to create 14,000 jobs. Tata Electronics is also scaling up its assembly operations as Apple aims to produce all 60 million US-bound iPhones in India by next year.</p><p>“India remains the only potential big manufacturing destination beyond China,” said Tarun Pathak, Research Director at Counterpoint, in an interview with&nbsp;<i>Moneycontrol</i>. He noted that the US lacks the necessary supply chain density, adding, “Even with subsidies, it would take 2-3 years to shift production meaningfully.”</p><p>&nbsp;</p><p><strong>Supply chain realities</strong></p><p>&nbsp;</p><p>The tariff threat has sparked concerns over rising costs for American consumers. Apple CEO Tim Cook has previously warned that tariffs would ultimately raise handset prices and disproportionately affect middle-class consumers.</p><p>Despite the political pressure, analysts argue that moving production to the US is neither simple nor economically viable in the near term. According to a report by the Global Trade Research Institute (GTRI), the final assembly of an iPhone, which is done in China and India, contributes less than 3 per cent to its retail value—about $30 out of a $1,000 device.</p><p>The GTRI report stated that each $1000 iPhone carries the imprint of at least a dozen countries. Apple, through its software, design, and brand, claims the lion’s share of the value, about $450 per device. US component makers such as Qualcomm and Broadcom add another $80.</p><p>Taiwan earns $150 for chip manufacturing, South Korea adds $90 for OLED (organic light-emitting diode) screens and memory chips, and Japan contributes $85, mainly via camera systems. Other countries like Germany, Vietnam, and Malaysia account for a modest $45 through smaller parts.</p><p>Repatriating iPhone assembly to the US would create jobs—an estimated 60,000 from India and possibly over 300,000 jobs if production also leaves China. However, labour costs in the US are significantly higher, with minimum monthly wages nearing $2,900, which is more than 12 times higher compared to $230 in India.</p><p>As a result, the cost of assembling each iPhone in the US would surge from $30 to nearly $390, severely cutting Apple’s per-device profit from $450 to about $60 unless retail prices soar.</p><p>Ming-Chi Kuo, an analyst with TF International Securities, wrote on X, “In terms of profitability, it’s way better for Apple to take the hit of a 25 per cent tariff on iPhones sold in the US market than to move iPhone assembly lines back to the US.”</p><p>&nbsp;</p><p><strong>Strategic consequences</strong></p><p>&nbsp;</p><p>Trump’s tariff stance comes at a sensitive time as India and the US are negotiating a bilateral trade agreement (BTA) during a 90-day pause in a previously announced reciprocal tariff.</p><p>Although the 25 per cent tariff threat is not specifically directed at India, its rapid rise as Apple’s production hub places it in the spotlight.</p><p>Ironically, the GTRI report argues that if iPhone assembly were to leave India, the country might benefit in the long term. By ceasing shallow assembly practices driven by subsidies and instead investing in core manufacturing technologies, like chipmaking and display production, India could move up the value chain.</p><p>The report pointed out that India earns less than $30 per iPhone, much of which is returned to Apple through production-linked incentives (PLIs). Moving assembly out might force India to focus on deeper manufacturing capabilities.</p><p>Meanwhile, Trump’s broader industrial strategy is clear: boost US employment and cut the trade deficit. Commerce Secretary Howard Lutnick recently commented on the technological gap, noting that Apple CEO Tim Cook told him iPhone assembly can’t move to the US until robotic automation meets Apple’s standards.</p><p>“He (Tim Cook) said, I need to have the robotic arms, right, do it at a scale and precision that I could bring it here,” Lutnick told&nbsp;<i>CNBC</i>. “And the day I see that available, it’s coming here.”</p><p>As the June deadline for the tariffs looms, Apple faces an urgent choice: absorb the cost, shift strategy, or pass it on to consumers, all while navigating the stormy waters of global trade and domestic politics.</p>

Apple faces an urgent choice: absorb the cost, shift strategy, or pass it on to consumers, all while navigating the stormy waters of global trade and domestic politics.

United States President Donald Trump has reignited trade tensions with a dramatic tariff threat against Apple Inc., warning that all iPhones and smartphones sold in the US but not manufactured locally could soon face a 25 per cent import duty. “I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a tariff of at least 25 per cent must be paid by Apple to the US,” Trump said in a Truth Social post. During a White House press event, Trump confirmed the tariffs would extend to all smartphone brands, including South Korea’s Samsung, declaring, “It would be also Samsung and anybody that makes that product. Otherwise, it wouldn’t be fair.” He added that the tariffs could take effect by the end of June. The announcement sent Apple shares tumbling nearly 3 per cent on May 23, deepening a stock decline of over 20 per cent since Trump returned to office. Recently, in a series of public statements and a post on Truth Social, Trump insisted that Apple must relocate its iPhone assembly operations to the United States, rejecting its current production strategies that prioritise China and increasingly, India. Rise of India as Apple’s new factory hub As Apple continues to diversify its supply chain away from China amid geopolitical tensions and rising costs, India has rapidly emerged as a key manufacturing alternative. According to India’s Commerce Ministry data, Apple assembled $22 billion worth of iPhones in India in FY25 (April 2024 to March 2025)—a 60 per cent increase from the previous year. India now accounts for 18 per cent of global iPhone output, up from just 7 per cent in 2022, and is projected to hit 32 per cent by the end of 2025. This growth is fuelled by major investments from Apple suppliers. Foxconn recently announced a $1.5 billion investment in a new component facility in Tamil Nadu, expected to create 14,000 jobs. Tata Electronics is also scaling up its assembly operations as Apple aims to produce all 60 million US-bound iPhones in India by next year. “India remains the only potential big manufacturing destination beyond China,” said Tarun Pathak, Research Director at Counterpoint, in an interview with Moneycontrol. He noted that the US lacks the necessary supply chain density, adding, “Even with subsidies, it would take 2-3 years to shift production meaningfully.” Supply chain realities The tariff threat has sparked concerns over rising costs for American consumers. Apple CEO Tim Cook has previously warned that tariffs would ultimately raise handset prices and disproportionately affect middle-class consumers. Despite the political pressure, analysts argue that moving production to the US is neither simple nor economically viable in the near term. According to a report by the Global Trade Research Institute (GTRI), the final assembly of an iPhone, which is done in China and India, contributes less than 3 per cent to its retail value—about $30 out of a $1,000 device. The GTRI report stated that each $1000 iPhone carries the imprint of at least a dozen countries. Apple, through its software, design, and brand, claims the lion’s share of the value, about $450 per device. US component makers such as Qualcomm and Broadcom add another $80. Taiwan earns $150 for chip manufacturing, South Korea adds $90 for OLED (organic light-emitting diode) screens and memory chips, and Japan contributes $85, mainly via camera systems. Other countries like Germany, Vietnam, and Malaysia account for a modest $45 through smaller parts. Repatriating iPhone assembly to the US would create jobs—an estimated 60,000 from India and possibly over 300,000 jobs if production also leaves China. However, labour costs in the US are significantly higher, with minimum monthly wages nearing $2,900, which is more than 12 times higher compared to $230 in India. As a result, the cost of assembling each iPhone in the US would surge from $30 to nearly $390, severely cutting Apple’s per-device profit from $450 to about $60 unless retail prices soar. Ming-Chi Kuo, an analyst with TF International Securities, wrote on X, “In terms of profitability, it’s way better for Apple to take the hit of a 25 per cent tariff on iPhones sold in the US market than to move iPhone assembly lines back to the US.” Strategic consequences Trump’s tariff stance comes at a sensitive time as India and the US are negotiating a bilateral trade agreement (BTA) during a 90-day pause in a previously announced reciprocal tariff. Although the 25 per cent tariff threat is not specifically directed at India, its rapid rise as Apple’s production hub places it in the spotlight. Ironically, the GTRI report argues that if iPhone assembly were to leave India, the country might benefit in the long term. By ceasing shallow assembly practices driven by subsidies and instead investing in core manufacturing technologies, like chipmaking and display production, India could move up the value chain. The report pointed out that India earns less than $30 per iPhone, much of which is returned to Apple through production-linked incentives (PLIs). Moving assembly out might force India to focus on deeper manufacturing capabilities. Meanwhile, Trump’s broader industrial strategy is clear: boost US employment and cut the trade deficit. Commerce Secretary Howard Lutnick recently commented on the technological gap, noting that Apple CEO Tim Cook told him iPhone assembly can’t move to the US until robotic automation meets Apple’s standards. “He (Tim Cook) said, I need to have the robotic arms, right, do it at a scale and precision that I could bring it here,” Lutnick told CNBC. “And the day I see that available, it’s coming here.” As the June deadline for the tariffs looms, Apple faces an urgent choice: absorb the cost, shift strategy, or pass it on to consumers, all while navigating the stormy waters of global trade and domestic politics.

<p>Apple faces an urgent choice: absorb the cost, shift strategy, or pass it on to consumers, all while navigating the stormy waters of global trade and domestic politics.</p>

iPhones made in India, trouble made in D.C.

<p>US President Donald Trump on Friday (May 23) claimed that the European Union has been ‘very difficult’ to deal with in the trade talks and that the current US trade in goods deficit is “totally unacceptable” and announced 50 per cent tariffs on EU from June 1, 2025.<br>Trump took to Truth Social and wrote, "The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with."</p><p><strong>Also read: </strong><a href="https://www.wionews.com/world/trump-s-big-warning-to-apple-make-iphones-in-us-not-in-india-or-face-25-tariffs-1748001761590"><strong>Trump's BIG warning to Apple: Make iPhones in US, not in India or face 25% tariffs</strong></a><br>Taking aim at the so-called 'Trade Barriers' put up by the European Union, he wrote, “Their powerful Trade Barriers, VAT taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against American companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable. Our discussions with them are going nowhere!”</p><p>&nbsp;</p>

<p>"Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States," Trump added.</p><p>The EU Commission declined to comment on US President Donald Trump’s comments. The Commission said it would wait for a phone call between EU trade chief Maros Sefcovic and his US counterpart Jamieson Greer to take place at 15:00 GMT.</p><p><strong>Also read: </strong><a href="https://www.wionews.com/world/russia-ukraine-war-prisoner-swap-news-today-donald-trump-ceasefire-truth-social-1747998350644"><strong>Trump hints at 'something big' between Russia and Ukraine, hails major prisoner swap - Does this mean ceasefire is close?</strong></a></p><h2><strong>European markets fall</strong></h2><p>Minutes after the US president's announcement European stock markets slid down. Germany’s DAX fell by 1.9%, while Italy’s FTSE MIB has lost 2%.</p><p>The Stoxx 600 Banks Index, which tracks bank shares in Europe, went down by 1.7%.</p><p>In London, the FTSE 100 index of blue-chip shares dropped 1.1%, as the trade war rose again.</p>

Trump took to Truth Social and wrote, "The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with."

US President Donald Trump on Friday (May 23) claimed that the European Union has been ‘very difficult’ to deal with in the trade talks and that the current US trade in goods deficit is “totally unacceptable” and announced 50 per cent tariffs on EU from June 1, 2025. Trump took to Truth Social and wrote, "The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with." Also read: Trump's BIG warning to Apple: Make iPhones in US, not in India or face 25% tariffs Taking aim at the so-called 'Trade Barriers' put up by the European Union, he wrote, “Their powerful Trade Barriers, VAT taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against American companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable. Our discussions with them are going nowhere!”

<p>Trump took to Truth Social and wrote, “The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with.”</p>

US–EU trade war? Trump slaps 50% tariffs on European Union, calls it ‘very difficult to deal with’

<p>China’s smartphone exports to the US have plunged to their lowest level since 2011, reflecting a dramatic fallout from escalating trade tensions and renewed tariff threats.&nbsp;</p><p>&nbsp;</p><p>As global electronics supply chains recalibrate, India is fast emerging as the new pivot point in the tech manufacturing ecosystem.</p><p>&nbsp;</p><p><strong>China’s smartphone exports to US declines&nbsp;</strong></p><p><br>In April 2025, China’s mobile phone shipments to the US plummeted 72 per cent year-on-year to $688.5 million, the lowest monthly figure since June 2011, according to China’s General Administration of Customs, as reported by Bloomberg and Trade Data Monitor.&nbsp;</p><p>&nbsp;</p><p>This collapse outpaced the 21 per cent overall drop in Chinese exports to the US in the same period, underscoring how high-tech goods are being disproportionately impacted.</p><p>&nbsp;</p><p>New data shows that smartphones led the decline in export value in April 2025, with a month-on-month drop of $1.8 billion. Other top tech categories saw steep falls as well:</p><p>&nbsp;</p><p><strong>Top 10 Product Export Drops from China to US (April 2025, MoM change):&nbsp;</strong></p><figure class="table"><table><tbody><tr><td><strong>Product</strong></td><td><strong>Decline ($ Million)</strong></td></tr><tr><td>Smartphones</td><td>-1800.0</td></tr><tr><td>Laptops</td><td>-260.0</td></tr><tr><td>Solid State Disks (SSD)</td><td>-156.9</td></tr><tr><td>Video Game Consoles</td><td>-135.9</td></tr><tr><td>Optical Communication Modules</td><td>-87.0</td></tr><tr><td>Plastic Products</td><td>-86.7</td></tr><tr><td>Toys</td><td>-80.9</td></tr><tr><td>PC Monitors</td><td>-79.9</td></tr><tr><td>Plastic Tableware &amp; Kitchenware</td><td>-73.7</td></tr><tr><td>Wireless Headphones</td><td>-63.6</td></tr></tbody></table></figure><p>(Source: China’s General Administration of Customs, Trade Data Monitor)</p><p>&nbsp;</p><p><strong>US-China trade war saga&nbsp;</strong></p><p><br>The Trump administration has imposed tariffs of up to 145 per cent on select Chinese goods, including mobile phones and electronics, aiming to “protect American industry” and correct trade imbalances. However, analysts argue the levies are disrupting global tech supply chains, raising costs for US consumers, and forcing companies to rethink manufacturing strategies.</p><p><br>According to Bloomberg, investors fear this new wave of tariffs could reignite a full-blown global trade war, decimating industries, and triggering inflation across key consumer markets.</p><p><br>In a tit-for-tat response, China has rolled out its own reciprocal tariffs, targeting US exports like liquid petroleum gas, soybeans, gas turbines, and semiconductor machinery.&nbsp;</p><p><br>These items were among the top American goods exported to China last year.</p><p><br>Meanwhile, high-level trade negotiations in Geneva have hit a wall, with Beijing accusing Washington of sabotaging progress by announcing fresh sanctions on Huawei Technologies Co.’s AI chip units, just as the talks were underway.</p><p><br>Both sides have agreed to a 90-day pause on new tariffs, but the underlying tensions remain unresolved. Analysts say the truce may only be “temporary relief, not a breakthrough.”</p><p><br>The stakes are massive. In 2024, US-China bilateral trade totaled $690 billion, with smartphones, laptops, and lithium-ion batteries topping the list of US imports from China, according to Trade Data Monitor. That flow is now under direct threat.</p><p><br>Tariff-led uncertainty is causing companies to hedge their bets—and China’s smartphone export data is one of the clearest signs yet.</p><p><br><strong>India emerges as the big winner</strong></p><p><br>As the US and China clash, India is emerging as a strategic alternative in global electronics manufacturing. Apple Inc. is accelerating its shift of iPhone production to India.&nbsp;</p><p><br>According to China’s General Administration of Customs, the value of smartphone component exports from China to India has roughly quadrupled over the past year.</p><p><br>India now hosts Apple’s largest iPhone production base outside of China, serving as a key assembly hub. More parts are being shipped from China to India, then exported to global markets including the US to bypass tariff penalties.</p><p><br>But Trump has pushed back on this workaround, publicly urging Apple to “bring iPhone manufacturing home.” However, experts point out that iPhones have never been made in the US, and the infrastructure needed for such a shift is still years away.</p><p><br>The 14-year low in smartphone exports signals more than just a trade slowdown, it represents a strategic decoupling in tech.&nbsp;</p><p>&nbsp;</p><p>With tariffs rising, trust fading, and sanctions increasing, the smartphone war could be just the beginning of a broader economic cold war.</p><p>&nbsp;</p>

The decline in smartphone export reflects a dramatic fallout from escalating trade tensions and renewed tariff threats. 

China’s smartphone exports to the US have plunged to their lowest level since 2011, reflecting a dramatic fallout from escalating trade tensions and renewed tariff threats. As global electronics supply chains recalibrate, India is fast emerging as the new pivot point in the tech manufacturing ecosystem. China’s smartphone exports to US declines In April 2025, China’s mobile phone shipments to the US plummeted 72 per cent year-on-year to $688.5 million, the lowest monthly figure since June 2011, according to China’s General Administration of Customs, as reported by Bloomberg and Trade Data Monitor. This collapse outpaced the 21 per cent overall drop in Chinese exports to the US in the same period, underscoring how high-tech goods are being disproportionately impacted. New data shows that smartphones led the decline in export value in April 2025, with a month-on-month drop of $1.8 billion. Other top tech categories saw steep falls as well: Top 10 Product Export Drops from China to US (April 2025, MoM change): Product Decline ($ Million) Smartphones -1800.0 Laptops -260.0 Solid State Disks (SSD) -156.9 Video Game Consoles -135.9 Optical Communication Modules -87.0 Plastic Products -86.7 Toys -80.9 PC Monitors -79.9 Plastic Tableware & Kitchenware -73.7 Wireless Headphones -63.6 (Source: China’s General Administration of Customs, Trade Data Monitor) US-China trade war saga The Trump administration has imposed tariffs of up to 145 per cent on select Chinese goods, including mobile phones and electronics, aiming to “protect American industry” and correct trade imbalances. However, analysts argue the levies are disrupting global tech supply chains, raising costs for US consumers, and forcing companies to rethink manufacturing strategies. According to Bloomberg, investors fear this new wave of tariffs could reignite a full-blown global trade war, decimating industries, and triggering inflation across key consumer markets. In a tit-for-tat response, China has rolled out its own reciprocal tariffs, targeting US exports like liquid petroleum gas, soybeans, gas turbines, and semiconductor machinery. These items were among the top American goods exported to China last year. Meanwhile, high-level trade negotiations in Geneva have hit a wall, with Beijing accusing Washington of sabotaging progress by announcing fresh sanctions on Huawei Technologies Co.’s AI chip units, just as the talks were underway. Both sides have agreed to a 90-day pause on new tariffs, but the underlying tensions remain unresolved. Analysts say the truce may only be “temporary relief, not a breakthrough.” The stakes are massive. In 2024, US-China bilateral trade totaled $690 billion, with smartphones, laptops, and lithium-ion batteries topping the list of US imports from China, according to Trade Data Monitor. That flow is now under direct threat. Tariff-led uncertainty is causing companies to hedge their bets—and China’s smartphone export data is one of the clearest signs yet. India emerges as the big winner As the US and China clash, India is emerging as a strategic alternative in global electronics manufacturing. Apple Inc. is accelerating its shift of iPhone production to India. According to China’s General Administration of Customs, the value of smartphone component exports from China to India has roughly quadrupled over the past year. India now hosts Apple’s largest iPhone production base outside of China, serving as a key assembly hub. More parts are being shipped from China to India, then exported to global markets including the US to bypass tariff penalties. But Trump has pushed back on this workaround, publicly urging Apple to “bring iPhone manufacturing home.” However, experts point out that iPhones have never been made in the US, and the infrastructure needed for such a shift is still years away. The 14-year low in smartphone exports signals more than just a trade slowdown, it represents a strategic decoupling in tech. With tariffs rising, trust fading, and sanctions increasing, the smartphone war could be just the beginning of a broader economic cold war.

<p>Amid global trade tension due to Trump tariff, China’s smartphone exports to the US have plunged to their lowest level since 2011.&nbsp;</p>

China’s smartphone exports to US crash to 14-year low amid trade war

<p>US President Donald Trump has taken aim at Walmart, urging the retail giant to absorb the cost of tariffs instead of passing them on to consumers. In a sharp rebuke posted on his social media platform Truth Social, Trump accused the company of hiding behind his trade policies while raking in massive profits.</p><p>&nbsp;</p><p>“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” Trump wrote. “Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China,&nbsp;they should, as is said, ‘EAT THE TARIFFS’, and not charge valued customers ANYTHING.”</p><p>&nbsp;</p><p>His comments follow Walmart’s announcement earlier this week that it would begin raising prices due to increased import duties. The company, a key player in American retail, cited high tariffs on Chinese goods as the primary driver of the looming price hike.</p><p>&nbsp;</p><p><strong>Walmart retail price hike ultimatum&nbsp;</strong></p><p>&nbsp;</p><p>According to Reuters, Walmart CEO Doug McMillon stated on Thursday that the company could not absorb all the tariff costs because of narrow retail margins. However, he assured that Walmart was committed to shielding customers from rising costs as much as possible — especially on essentials like food.</p><p>&nbsp;</p><p>“We will do our best to keep our prices as low as possible,” McMillon told Reuters. “But we won’t be able to absorb all the pressure imposed by the tariffs.”</p><p>&nbsp;</p><p>Following Trump’s remarks, Walmart reiterated its stance in a statement to Reuters: “We have always worked to keep our prices as low as possible and we won’t stop,” said company spokesperson Molly Blakeman. “We’ll keep prices as low as we can for as long as we can given the reality of small retail margins.”</p><p>&nbsp;</p><p>The retailer, which saw over 3 per cent sales growth to $112 billion in the most recent quarter, has not issued a profit projection for the current quarter, citing the ongoing uncertainty around tariffs.</p><p>&nbsp;</p><p><strong>Trump tariff saga&nbsp;</strong></p><p>&nbsp;</p><p>President Trump’s latest confrontation with Walmart is part of a broader and aggressive trade strategy that has seen the US impose tariffs on a range of foreign goods and trading partners.</p><p>&nbsp;</p><p>The latest salvo came on April 2, 2025, when Trump unveiled a new wave of sweeping import duties during his “Liberation Day” announcement, including a staggering 145 per cent tariff on Chinese goods.</p><p>&nbsp;</p><p>In retaliation, Beijing responded with reciprocal tariffs of 125 per cent on American goods. The tit-for-tat escalations disrupted global supply chains, drove up costs for consumers, and rattled financial markets.</p><p>&nbsp;</p><p>Although a temporary 90-day tariff pause was agreed , a 10 per cent base tariff on Chinese goods remained in place. The Geneva trade talks held earlier this week were also viewed as a potential turning point.</p><p>&nbsp;</p><p>According to a joint statement, both sides have agreed to reduce tariffs: the US has brought down its duties from 145 per cent to 30 per cent, while China has cut its retaliatory tariffs from 125 per cent to 10 per cent.</p><p>&nbsp;</p><p>Tariffs have also been raised on goods from Mexico, Vietnam, and South Korea, particularly in industries seen as vital to US national interests.</p><p>Simultaneously, the US-UK trade deal has entered its final negotiation phase, with both nations agreeing to remove certain non-tariff barriers and consider lowering duties on automotive parts and pharmaceuticals. The deal is expected to be signed later this year, aiming to bolster transatlantic trade post-Brexit.</p><p>&nbsp;</p><p>Despite these diplomatic developments, Trump has remained firm on maintaining pressure on countries he views as taking advantage of the American market. Retailers like Walmart, which source about one-third of their products from overseas, primarily China and Mexico are reportedly caught in the middle, forced to balance profit margins against political rhetoric.</p><p>&nbsp;</p><p>With more than 4,000 stores across the US and 90 per cent of the population living within 10 miles of one, Walmart’s decision to increase prices may have broader implications for American consumers and for Trump’s own inflation-fighting narrative ahead of the 2024 elections.</p>

Business & Economy: Trump comments came after Walmart announced price increases due to high tariffs on Chinese imports, identifying them as the main factor for the price hike.

US President Donald Trump has taken aim at Walmart, urging the retail giant to absorb the cost of tariffs instead of passing them on to consumers. In a sharp rebuke posted on his social media platform Truth Social, Trump accused the company of hiding behind his trade policies while raking in massive profits. “Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” Trump wrote. “Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China, they should, as is said, ‘EAT THE TARIFFS’, and not charge valued customers ANYTHING.” His comments follow Walmart’s announcement earlier this week that it would begin raising prices due to increased import duties. The company, a key player in American retail, cited high tariffs on Chinese goods as the primary driver of the looming price hike. Walmart retail price hike ultimatum According to Reuters, Walmart CEO Doug McMillon stated on Thursday that the company could not absorb all the tariff costs because of narrow retail margins. However, he assured that Walmart was committed to shielding customers from rising costs as much as possible — especially on essentials like food. “We will do our best to keep our prices as low as possible,” McMillon told Reuters. “But we won’t be able to absorb all the pressure imposed by the tariffs.” Following Trump’s remarks, Walmart reiterated its stance in a statement to Reuters: “We have always worked to keep our prices as low as possible and we won’t stop,” said company spokesperson Molly Blakeman. “We’ll keep prices as low as we can for as long as we can given the reality of small retail margins.” The retailer, which saw over 3 per cent sales growth to $112 billion in the most recent quarter, has not issued a profit projection for the current quarter, citing the ongoing uncertainty around tariffs. Trump tariff saga President Trump’s latest confrontation with Walmart is part of a broader and aggressive trade strategy that has seen the US impose tariffs on a range of foreign goods and trading partners. The latest salvo came on April 2, 2025, when Trump unveiled a new wave of sweeping import duties during his “Liberation Day” announcement, including a staggering 145 per cent tariff on Chinese goods. In retaliation, Beijing responded with reciprocal tariffs of 125 per cent on American goods. The tit-for-tat escalations disrupted global supply chains, drove up costs for consumers, and rattled financial markets. Although a temporary 90-day tariff pause was agreed , a 10 per cent base tariff on Chinese goods remained in place. The Geneva trade talks held earlier this week were also viewed as a potential turning point. According to a joint statement, both sides have agreed to reduce tariffs: the US has brought down its duties from 145 per cent to 30 per cent, while China has cut its retaliatory tariffs from 125 per cent to 10 per cent. Tariffs have also been raised on goods from Mexico, Vietnam, and South Korea, particularly in industries seen as vital to US national interests. Simultaneously, the US-UK trade deal has entered its final negotiation phase, with both nations agreeing to remove certain non-tariff barriers and consider lowering duties on automotive parts and pharmaceuticals. The deal is expected to be signed later this year, aiming to bolster transatlantic trade post-Brexit. Despite these diplomatic developments, Trump has remained firm on maintaining pressure on countries he views as taking advantage of the American market. Retailers like Walmart, which source about one-third of their products from overseas, primarily China and Mexico are reportedly caught in the middle, forced to balance profit margins against political rhetoric. With more than 4,000 stores across the US and 90 per cent of the population living within 10 miles of one, Walmart’s decision to increase prices may have broader implications for American consumers and for Trump’s own inflation-fighting narrative ahead of the 2024 elections.

<p>President Trump criticised Walmart on social media, urging the company to absorb tariff costs rather than transferring them to consumers, highlighting their profits.</p>

Trump tells Walmart to ‘eat the tariffs’ amid retail price hike alarm

<div class="x_elementToProof" data-olk-copy-source="MessageBody">In a decisive move to stabilise its economy and shore up domestic demand, China's first reserve requirement ratio (RRR) cut of 2025 came into effect as re0ported by Reuters. The People&rsquo;s Bank of China (PBOC) slashed the RRR by 0.5 percentage points for eligible financial institutions, a step that will inject roughly 1 trillion yuan (about 139 billion US dollars) of long-term liquidity into the banking system.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">The RRR cut, which took effect on May 15, is expected to reduce borrowing costs, ease liquidity pressures in the financial sector, and boost lending to businesses and consumers. The central bank also reduced the RRR to zero for auto financing and financial leasing companies, a move aimed at stimulating spending on vehicles and equipment upgrades.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">This is part of a broader package of monetary easing measures announced earlier this month, including a 10-basis point reduction in the 7-day reverse repo rate to 1.40 per cent and increased support through targeted relending facilities.&nbsp;</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">The stimulus measures also include expanded equity investment capacity for insurance companies by 60 billion yuan, mortgage rate reductions for certain homebuyers, and new relending tools to support tech bond purchases and elderly care investments.</div>
<h2 class="x_elementToProof"><b>Why Now?</b><b></b></h2>
<div class="x_elementToProof">The RRR cut appears strategically timed, comes just days after high-stakes trade talks between Chinese officials and a US delegation led by Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer took place in Switzerland.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">Analysts say the liquidity injection is more than just monetary policy, it&rsquo;s a tactical move designed to buffer the domestic economy from the adverse effects of prolonged tariff tensions with the US. China has been under growing pressure as its export-driven industries face rising costs and declining overseas demand.</div>
<h2 class="x_elementToProof"><b>Trump&rsquo;s Tariff War: A Trade Deal Still Hanging</b><b></b></h2>
<div class="x_elementToProof">The fresh policy moves come against the backdrop of former US President Donald Trump&rsquo;s aggressive tariff regime, which has sent shockwaves through the global economy. According to the Peterson Institute for International Economics, the US under Trump imposed tariffs on over 360 billion US dollars&rsquo; worth of Chinese goods between 2018 and 2020 &mdash; with some levies reaching up to 25 per cent.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">The latest salvo came on April 2, 2025, when Trump unveiled a new wave of sweeping import duties during his &ldquo;Liberation Day&rdquo; announcement &mdash; including a staggering 145 per cent tariff on Chinese goods.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">In retaliation, Beijing responded with reciprocal tariffs of 125 per cent on American goods. The tit-for-tat escalations disrupted global supply chains, drove up costs for consumers, and rattled financial markets.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">Although a temporary 90-day tariff pause was agreed , a 10 per cent base tariff on Chinese goods remained in place. The Geneva trade talks held earlier this week were also viewed as a potential turning point. According to a joint statement, both sides have agreed to reduce tariffs: the US has brought down its duties from 145 per cent to 30 per cent, while China has cut its retaliatory tariffs from 125 per cent to 10 per cent.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">As the US-China trade saga enters a new chapter, China&rsquo;s monetary policy pivot underscores a shifting global narrative. No longer content to merely defend its position, Beijing is now proactively reshaping its internal economic resilience.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">While trade diplomacy plays out on the world stage, the PBOC&rsquo;s RRR cut and accompanying stimulus measures signal that China is preparing for a long-haul game &mdash; one that blends tactical monetary easing with strategic economic recalibration.</div>

Business & Economy: This strategic move is expected to infuse approximately trillion yuan, equivalent to about billion US dollars, into the banking system, fostering long-term stability.

In a decisive move to stabilise its economy and shore up domestic demand, China's first reserve requirement ratio (RRR) cut of 2025 came into effect as re0ported by Reuters. The People’s Bank of China (PBOC) slashed the RRR by 0.5 percentage points for eligible financial institutions, a step that will inject roughly 1 trillion yuan (about 139 billion US dollars) of long-term liquidity into the banking system. The RRR cut, which took effect on May 15, is expected to reduce borrowing costs, ease liquidity pressures in the financial sector, and boost lending to businesses and consumers. The central bank also reduced the RRR to zero for auto financing and financial leasing companies, a move aimed at stimulating spending on vehicles and equipment upgrades. This is part of a broader package of monetary easing measures announced earlier this month, including a 10-basis point reduction in the 7-day reverse repo rate to 1.40 per cent and increased support through targeted relending facilities. The stimulus measures also include expanded equity investment capacity for insurance companies by 60 billion yuan, mortgage rate reductions for certain homebuyers, and new relending tools to support tech bond purchases and elderly care investments. Why Now? The RRR cut appears strategically timed, comes just days after high-stakes trade talks between Chinese officials and a US delegation led by Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer took place in Switzerland. Analysts say the liquidity injection is more than just monetary policy, it’s a tactical move designed to buffer the domestic economy from the adverse effects of prolonged tariff tensions with the US. China has been under growing pressure as its export-driven industries face rising costs and declining overseas demand. Trump’s Tariff War: A Trade Deal Still Hanging The fresh policy moves come against the backdrop of former US President Donald Trump’s aggressive tariff regime, which has sent shockwaves through the global economy. According to the Peterson Institute for International Economics, the US under Trump imposed tariffs on over 360 billion US dollars’ worth of Chinese goods between 2018 and 2020 — with some levies reaching up to 25 per cent. The latest salvo came on April 2, 2025, when Trump unveiled a new wave of sweeping import duties during his “Liberation Day” announcement — including a staggering 145 per cent tariff on Chinese goods. In retaliation, Beijing responded with reciprocal tariffs of 125 per cent on American goods. The tit-for-tat escalations disrupted global supply chains, drove up costs for consumers, and rattled financial markets. Although a temporary 90-day tariff pause was agreed , a 10 per cent base tariff on Chinese goods remained in place. The Geneva trade talks held earlier this week were also viewed as a potential turning point. According to a joint statement, both sides have agreed to reduce tariffs: the US has brought down its duties from 145 per cent to 30 per cent, while China has cut its retaliatory tariffs from 125 per cent to 10 per cent. As the US-China trade saga enters a new chapter, China’s monetary policy pivot underscores a shifting global narrative. No longer content to merely defend its position, Beijing is now proactively reshaping its internal economic resilience. While trade diplomacy plays out on the world stage, the PBOC’s RRR cut and accompanying stimulus measures signal that China is preparing for a long-haul game — one that blends tactical monetary easing with strategic economic recalibration.

China’s first RRR cut for financial institutions in 2025 takes effect amid trump tariff fiasco

<div class="x_elementToProof" data-olk-copy-source="MessageBody">India has formally taken its first retaliatory step against US President Donald Trump&rsquo;s tariff regime by submitting a notice to the World Trade Organization (WTO) proposing counter-duties on selected American goods.&nbsp;</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">The move comes as trade talks between the two nations enter a sensitive phase, with both sides seeking to finalise a comprehensive bilateral deal by late 2025</div>
<h2 class="x_elementToProof"><b>What India has proposed?</b></h2>
<div class="x_elementToProof">In a notification dated 12 May 2025, India informed the WTO of its intent to &ldquo;suspend concessions or other obligations&rdquo; under global trade rules, in response to the United States&rsquo; tariffs on imported steel and aluminium. According to Reuters, India stated that the US duties would affect $7.6 billion worth of Indian exports, resulting in an estimated $1.91 billion in additional tariffs.&nbsp;</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">As per WTO rules, India is entitled to impose retaliatory duties equal to the value of the damage caused, although it has yet to specify which US products would be targeted.</div>
<h2 class="x_elementToProof"><b>Trump&rsquo;s tariff saga</b></h2>
<div class="x_elementToProof">The tariff tensions between India and the US escalated sharply in recent months. In March 2025, President Trump extended his earlier tariff policy by reimposing 25 per cent duties on all steel and aluminium imports, including those from India, according to a Reuters report. This action revived the tariff mechanism first deployed during Trump&rsquo;s initial term in 2018 under Section 232 of the Trade Expansion Act.</div>
<div class="x_elementToProof" aria-hidden="true">&nbsp;</div>
<div class="x_elementToProof">Then in April 2025, the United States imposed an additional 26 per cent &ldquo;reciprocal tariff&rdquo; across a broad range of Indian exports, citing India&rsquo;s historically high import duties. According to Reuters, this round of tariffs impacted key Indian sectors such as electronics, gems and jewellery, aluminium components, and auto parts &mdash; industries that previously benefited from US tariffs averaging below 2 per cent.&nbsp;</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">The sharp increase in costs rendered Indian goods less competitive in the American market, leading to a noticeable dip in export volumes, as noted by trade analysts.</div>
<h2 class="x_elementToProof"><b>A shift in India&rsquo;s approach</b></h2>
<div class="x_elementToProof">Until recently, India had chosen to respond diplomatically to the Trump administration&rsquo;s protectionist moves. Earlier this year, New Delhi slashed import duties on more than 8,500 industrial products, including premium American exports, in an effort to reduce tensions and pave the way for a smoother trade agreement.&nbsp;</div>
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<div class="x_elementToProof">But with the latest wave of tariffs and Trump&rsquo;s public remarks linking US-India trade ties to the recent ceasefire between India and Pakistan, New Delhi&rsquo;s tone has notably hardened.</div>
<h2 class="x_elementToProof"><b>What lies ahead?</b></h2>
<div class="x_elementToProof">India&rsquo;s countermeasures come at a precarious time. Both nations are in the final stretch of negotiating a bilateral trade agreement, with India reportedly offering to narrow its tariff gap with the US by nearly two-thirds.&nbsp;</div>
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<div class="x_elementToProof">But this tit-for-tat move may complicate the discussions. While the WTO permits such retaliation under its safeguard rules, any escalation could undermine the spirit of cooperation both countries have sought to maintain in recent months.<br><br></div>
<div class="x_elementToProof">As the world&rsquo;s largest and oldest democracies try to balance protectionism and partnership, the coming weeks will determine whether diplomacy or trade disruption shapes the future of India-US economic relations.</div>
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Business & Economy: New Delhi employs a WTO clause to challenge US tariffs on steel and aluminium, a move involving goods valued at $billion, marking a significant trade action.

India has formally taken its first retaliatory step against US President Donald Trump’s tariff regime by submitting a notice to the World Trade Organization (WTO) proposing counter-duties on selected American goods. The move comes as trade talks between the two nations enter a sensitive phase, with both sides seeking to finalise a comprehensive bilateral deal by late 2025 What India has proposed? In a notification dated 12 May 2025, India informed the WTO of its intent to “suspend concessions or other obligations” under global trade rules, in response to the United States’ tariffs on imported steel and aluminium. According to Reuters, India stated that the US duties would affect $7.6 billion worth of Indian exports, resulting in an estimated $1.91 billion in additional tariffs. As per WTO rules, India is entitled to impose retaliatory duties equal to the value of the damage caused, although it has yet to specify which US products would be targeted. Trump’s tariff saga The tariff tensions between India and the US escalated sharply in recent months. In March 2025, President Trump extended his earlier tariff policy by reimposing 25 per cent duties on all steel and aluminium imports, including those from India, according to a Reuters report. This action revived the tariff mechanism first deployed during Trump’s initial term in 2018 under Section 232 of the Trade Expansion Act. Then in April 2025, the United States imposed an additional 26 per cent “reciprocal tariff” across a broad range of Indian exports, citing India’s historically high import duties. According to Reuters, this round of tariffs impacted key Indian sectors such as electronics, gems and jewellery, aluminium components, and auto parts — industries that previously benefited from US tariffs averaging below 2 per cent. The sharp increase in costs rendered Indian goods less competitive in the American market, leading to a noticeable dip in export volumes, as noted by trade analysts. A shift in India’s approach Until recently, India had chosen to respond diplomatically to the Trump administration’s protectionist moves. Earlier this year, New Delhi slashed import duties on more than 8,500 industrial products, including premium American exports, in an effort to reduce tensions and pave the way for a smoother trade agreement. But with the latest wave of tariffs and Trump’s public remarks linking US-India trade ties to the recent ceasefire between India and Pakistan, New Delhi’s tone has notably hardened. What lies ahead? India’s countermeasures come at a precarious time. Both nations are in the final stretch of negotiating a bilateral trade agreement, with India reportedly offering to narrow its tariff gap with the US by nearly two-thirds. But this tit-for-tat move may complicate the discussions. While the WTO permits such retaliation under its safeguard rules, any escalation could undermine the spirit of cooperation both countries have sought to maintain in recent months. As the world’s largest and oldest democracies try to balance protectionism and partnership, the coming weeks will determine whether diplomacy or trade disruption shapes the future of India-US economic relations.

India proposes first counter move against Trump tariffs, submits notice to WTO

<div class="x_elementToProof" data-olk-copy-source="MessageBody">US inflation is expected to tick higher in April, as fresh data is poised to reflect the early impact of President Donald Trump&rsquo;s tariff spree&mdash;raising questions about the Federal Reserve&rsquo;s next steps and rattling currency markets.</div>
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<div class="x_elementToProof">The Bureau of Labor Statistics will release the April Consumer Price Index (CPI) report today at 12:30 GMT (8:30 a.m. EST), a high-impact data point that could sway the Federal Reserve&rsquo;s rate outlook and shift momentum in the US Dollar.</div>
<h2 class="x_elementToProof"><b>Forecast: Inflation likely to edge up again</b></h2>
<div class="x_elementToProof">According to the Bureau of Labor Statistics, headline inflation is projected to come in at 2.4 per cent year-over-year in April, unchanged from March&rsquo;s reading. However, on a month-over-month basis, prices are reportedly expected to rise by 0.3 per cent, reversing the 0.1 per cent decline seen in March.</div>
<div class="x_elementToProof">As per Bloomberg, core CPI, which excludes volatile food and energy costs is also forecast to climb 0.3 per cent from the previous month, keeping the annual rate steady at 2.8 per cent, the same as March when core inflation hit a four-year low.</div>
<div class="x_elementToProof">This view is echoed by a Bloomberg survey of economists, which forecasts a 0.3 per cent increase in both headline and core CPI in April. According to Bloomberg, the uptick marks a shift from March&rsquo;s unexpected decline and signals that inflationary pressures are re-emerging as tariffs take hold.</div>
<h2 class="x_elementToProof"><b>Trump tariffs fiasco &nbsp;</b></h2>
<div class="x_elementToProof">President Trump&rsquo;s &ldquo;Liberation Day&rdquo; announcement on April 2 unveiled sweeping tariffs on Chinese goods and several European imports. Although the administration later paused most new tariffs for 90 days, a 10 per cent duty on Chinese goods remains active and has started filtering through to prices.</div>
<div class="x_elementToProof">According to Bloomberg, categories like toys, apparel, and household goods, many of which are heavily reliant on Chinese supply chains&mdash;could begin to reflect price hikes in April&rsquo;s data, even if the full impact is expected to hit harder in Q3.</div>
<h2 class="x_elementToProof"><b>Fed takes a wait-and-watch approach</b></h2>
<div class="x_elementToProof">During the Federal Reserve&rsquo;s May 7 policy meeting, the central bank left interest rates unchanged at 4.25 per cent&ndash;4.50 per cent. Fed Chair Jerome Powell acknowledged that &ldquo;the risks of higher inflation and unemployment have risen,&rdquo; but emphasized that it was not yet time to alter the policy path.</div>
<div class="x_elementToProof">Powell noted that &ldquo;near-term inflation expectations have increased due to tariffs&rdquo; and that the Fed&rsquo;s current stance allows room to observe how the data evolves, as reported by Reuters.</div>
<h2 class="x_elementToProof"><b>Washington's trade deal with UK &amp; China&nbsp;</b></h2>
<div class="x_elementToProof">Adding complexity to the inflation outlook are recent US-China trade talks. Over the weekend, both sides announced progress in Geneva, agreeing to suspend some tariffs for 90 days. According to the joint statement, the US has cut tariffs from 145 per cent to 30 per cent, while China reduced duties from 125 per cent to 10 per cent.</div>
<div class="x_elementToProof">Meanwhile, the &ldquo;reciprocal&rdquo; tariff rate of 10 per cent on British goods remains unchanged, the UK will benefit from exemptions for steel and cars, as well as increased market access for agricultural exports. The deal also leaves room for further negotiation down the line</div>
<div class="x_elementToProof">This truce could ease pressure on global supply chains and retail importers, though its inflation-dampening effects are unlikely to appear in the April data.</div>
<div class="x_elementToProof">With inflation caught between tariffs and slowing demand, the April CPI report may prove pivotal, not just for monetary policy, but for global markets still trying to price in the true cost of Trump&rsquo;s trade war.</div>
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Business & Economy: The Bureau of Labor Statistics will release the April Consumer Price Index (CPI) report today at 12:30 GMT (8:30 a.m. EST).

US inflation is expected to tick higher in April, as fresh data is poised to reflect the early impact of President Donald Trump’s tariff spree—raising questions about the Federal Reserve’s next steps and rattling currency markets. The Bureau of Labor Statistics will release the April Consumer Price Index (CPI) report today at 12:30 GMT (8:30 a.m. EST), a high-impact data point that could sway the Federal Reserve’s rate outlook and shift momentum in the US Dollar. Forecast: Inflation likely to edge up again According to the Bureau of Labor Statistics, headline inflation is projected to come in at 2.4 per cent year-over-year in April, unchanged from March’s reading. However, on a month-over-month basis, prices are reportedly expected to rise by 0.3 per cent, reversing the 0.1 per cent decline seen in March. As per Bloomberg, core CPI, which excludes volatile food and energy costs is also forecast to climb 0.3 per cent from the previous month, keeping the annual rate steady at 2.8 per cent, the same as March when core inflation hit a four-year low. This view is echoed by a Bloomberg survey of economists, which forecasts a 0.3 per cent increase in both headline and core CPI in April. According to Bloomberg, the uptick marks a shift from March’s unexpected decline and signals that inflationary pressures are re-emerging as tariffs take hold. Trump tariffs fiasco President Trump’s “Liberation Day” announcement on April 2 unveiled sweeping tariffs on Chinese goods and several European imports. Although the administration later paused most new tariffs for 90 days, a 10 per cent duty on Chinese goods remains active and has started filtering through to prices. According to Bloomberg, categories like toys, apparel, and household goods, many of which are heavily reliant on Chinese supply chains—could begin to reflect price hikes in April’s data, even if the full impact is expected to hit harder in Q3. Fed takes a wait-and-watch approach During the Federal Reserve’s May 7 policy meeting, the central bank left interest rates unchanged at 4.25 per cent–4.50 per cent. Fed Chair Jerome Powell acknowledged that “the risks of higher inflation and unemployment have risen,” but emphasized that it was not yet time to alter the policy path. Powell noted that “near-term inflation expectations have increased due to tariffs” and that the Fed’s current stance allows room to observe how the data evolves, as reported by Reuters. Washington's trade deal with UK & China Adding complexity to the inflation outlook are recent US-China trade talks. Over the weekend, both sides announced progress in Geneva, agreeing to suspend some tariffs for 90 days. According to the joint statement, the US has cut tariffs from 145 per cent to 30 per cent, while China reduced duties from 125 per cent to 10 per cent. Meanwhile, the “reciprocal” tariff rate of 10 per cent on British goods remains unchanged, the UK will benefit from exemptions for steel and cars, as well as increased market access for agricultural exports. The deal also leaves room for further negotiation down the line This truce could ease pressure on global supply chains and retail importers, though its inflation-dampening effects are unlikely to appear in the April data. With inflation caught between tariffs and slowing demand, the April CPI report may prove pivotal, not just for monetary policy, but for global markets still trying to price in the true cost of Trump’s trade war.

US inflation seen picking up in April as Trump tariffs begin to bite

Buying a new car in the u.S. Just got more expensive. Prices rose 2.5% in april—much faster than usual.
The reason?
New tariffs on vehicle imports from Mexico and Canada

Trump Tariffs: New car prices jump on import tariffs

From Apple to Gm, Many American Firms Have Warned That Tariffs and Retaliatory Levies Will Cost Tens of Billions of Dollars.

Corporate America is Bracing for Significant Damages From Trump's Trade War — and That's Before Most Affected Goods Have Even Landed.

In This Next Report, We Dive Into the Impact of Trump's Multi-front Trade Wars Even as the U.S. Is Looking to Make Trade Deals. Take a Look...

Trump tariff damage: U.S. firms warn of financial hit

<p><span data-olk-copy-source="MessageBody">Donald Trump&rsquo;s return to the White House has shaken the foundations of the global economy.</span></p>
<p><span>In April 2025, the US President launched a sweeping tariff offensive, imposing import duties on major trade partners in a dramatic bid to realign global commerce. The tariffs include a 10 per cent blanket duty on all US imports and a 145 per cent levy on Chinese goods&mdash;marking the harshest hit on America&rsquo;s top trading partner. Additionally, tariffs include 60 per cent on Mexican products, 45 per cent on European Union imports, 35 per cent on Canadian goods, and 25 per cent on South Korean exports.</span><span></span></p>
<h2><span><b>Recession risk surges, says Reuters poll</b></span></h2>
<p><span>A Reuters poll conducted from April 1 to 28 among more than 300 economists across 50 countries painted a grim picture. Sixty percent of respondents said the risk of a global recession this year is &ldquo;high&rdquo; or &ldquo;very high.&rdquo; Only 66 economists believed the risk was low, including four who considered it &ldquo;very low.&rdquo;</span></p>
<p><span>The poll also revealed that none of the economists surveyed believed the tariffs had a positive impact on global business sentiment. A staggering 92 per cent said the impact was negative, while only 8 per cent considered it neutral&mdash;mostly from India and other emerging economies.</span></p>
<p><span>The 2025 global growth forecast has been downgraded from 3.0 per cent to 2.7 per cent, with 28 out of 48 individual country projections revised downward. Economies like Mexico and Canada were among the hardest hit, with Mexico&rsquo;s growth forecast cut to 0.2 per cent and Canada&rsquo;s to 1.2 per cent, according to the Reuters survey.</span></p>
<p><span>In contrast, growth projections for China and Russia remained steady at 4.5 per cent and 1.7 per cent, respectively&mdash;indicating that some economies may be better positioned to weather the tariff storm.</span><span></span></p>
<h2><span><b>Small businesses raise red flags</b></span></h2>
<p><span>The US Chamber of Commerce, one of the country&rsquo;s most influential business groups, sent a formal letter to the White House warning that continued tariff hikes could cause &ldquo;irreparable harm&rdquo; to small businesses and push the economy into recession, as stated in a Reuters report.</span></p>
<p><span>Addressed to Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, the letter urged immediate tariff relief.</span></p>
<p><span>&ldquo;Higher costs and disrupted supply chains are endangering small businesses across America,&rdquo; said Suzanne P. Clark, President and CEO of the Chamber, in a statement released on May 2. She added, &ldquo;Whether it is coffee, bananas, cocoa, minerals or numerous other products, the reality is certain things just can&rsquo;t be produced in the United States. Tariffs on such essentials only raise costs for struggling families.&rdquo;</span></p>
<p><span>The Chamber requested automatic exclusions for small business importers, a system for case-by-case tariff exemptions where American jobs are at risk, and tariff waivers on goods not readily available in the US.</span><span></span></p>
<h2><span><b>Trump admin: No recession, just renegotiation</b></span></h2>
<p><span>Despite mounting concerns, US Treasury Secretary Scott Bessent insisted that the economy is not in recession, according to Reuters. Testifying before the House Appropriations Committee on May 6, Bessent claimed that while first-quarter GDP showed a dip, he expected upward revisions in the coming weeks. He also revealed that the US was in talks with 17 countries to secure new trade deals, though he admitted that no discussions had yet begun with China.</span></p>
<p><span>Still, official numbers suggest early signs of distress. According to the US Commerce Department&rsquo;s April 2025 report, the country&rsquo;s GDP contracted by 0.3 per cent in the first quarter&mdash;the first economic shrinkage in three years. Imports dropped 2.8 per cent, reflecting weakening domestic demand, while exports fell 3.6 per cent, indicating reduced global competitiveness due to retaliatory tariffs.</span></p>
<p><span>In response, China introduced steep counter-tariffs, prompting multinational corporations to slash revenue forecasts and stall expansion plans. Although the White House has announced a 90-day pause on the most aggressive tariffs, analysts say the damage to business confidence is already done.</span></p>
<p><span>&ldquo;It&rsquo;s hard for companies to plan even three months ahead,&rdquo; said James Rossiter, Head of Global Macro Strategy at TD Securities. &ldquo;Let alone envision what five years might look like,&rdquo; as quoted by Reuters in April.</span><span></span></p>
<h2><span><b>IMF narrates different story</b></span></h2>
<p><span>Amid the uncertainty, the International Monetary Fund (IMF) offered a more measured outlook, according to a Reuters report. In its April 17 global forecast, the IMF acknowledged that tariff-related uncertainty is &ldquo;literally off the charts&rdquo; and warned of a growing erosion of trust between nations. However, it stopped short of declaring a global recession.</span></p>
<p><span>&ldquo;Our new growth projections will include notable markdowns, but not recession,&rdquo; said IMF Managing Director Kristalina Georgieva, speaking at the IMF Spring Meetings in Washington. She emphasized that global share prices had suffered amid heightened trade tensions and called for coordinated policy responses to restore stability.</span></p>
<p><span>&ldquo;A better balanced, more resilient world economy is within reach. We must act to secure it,&rdquo; Georgieva urged. She called on Europe to eliminate restrictions on internal trade in services, encouraged China to expand its social safety net to reduce precautionary saving, and urged the US to rein in its growing public debt.</span></p>
<p><span>Meanwhile, the World Trade Organization (WTO) projected a decline in global trade volumes due to the Trump tariffs. The European Central Bank reduced its key interest rate, citing growing trade tensions, while the Bank of England warned of increased risks to global growth and financial stability&mdash;developments widely reported by Bloomberg and Reuters.</span><span></span></p>
<h2><span><b>From Inflation Control to Stagflation Fears</b></span></h2>
<p><span>As inflationary pressures mount due to higher import costs, economists are now warning of stagflation&mdash;a dangerous blend of slow growth, rising unemployment, and persistent inflation. According to the Reuters survey, 19 out of 29 major central banks are expected to miss their inflation targets in 2025, and more than half may continue to miss them into 2026.</span><span></span></p>
<h2><span><b>The Road Ahead</b></span></h2>
<p><span>As negotiations inch forward, the global economy stands at a crossroads. Trump&rsquo;s tariffs have disrupted a fragile post-pandemic recovery, spooked markets, and reignited fears of global economic disintegration. The long-term consequences may extend far beyond trade balances&mdash;impacting jobs, inflation, and investor confidence for years to come.</span></p>

Business & Economy: In April 2025, the US President launched a sweeping tariff offensive, imposing import duties on major trade partners in a dramatic bid to realign global commerce.

Donald Trump’s return to the White House has shaken the foundations of the global economy. In April 2025, the US President launched a sweeping tariff offensive, imposing import duties on major trade partners in a dramatic bid to realign global commerce. The tariffs include a 10 per cent blanket duty on all US imports and a 145 per cent levy on Chinese goods—marking the harshest hit on America’s top trading partner. Additionally, tariffs include 60 per cent on Mexican products, 45 per cent on European Union imports, 35 per cent on Canadian goods, and 25 per cent on South Korean exports. Recession risk surges, says Reuters poll A Reuters poll conducted from April 1 to 28 among more than 300 economists across 50 countries painted a grim picture. Sixty percent of respondents said the risk of a global recession this year is “high” or “very high.” Only 66 economists believed the risk was low, including four who considered it “very low.” The poll also revealed that none of the economists surveyed believed the tariffs had a positive impact on global business sentiment. A staggering 92 per cent said the impact was negative, while only 8 per cent considered it neutral—mostly from India and other emerging economies. The 2025 global growth forecast has been downgraded from 3.0 per cent to 2.7 per cent, with 28 out of 48 individual country projections revised downward. Economies like Mexico and Canada were among the hardest hit, with Mexico’s growth forecast cut to 0.2 per cent and Canada’s to 1.2 per cent, according to the Reuters survey. In contrast, growth projections for China and Russia remained steady at 4.5 per cent and 1.7 per cent, respectively—indicating that some economies may be better positioned to weather the tariff storm. Small businesses raise red flags The US Chamber of Commerce, one of the country’s most influential business groups, sent a formal letter to the White House warning that continued tariff hikes could cause “irreparable harm” to small businesses and push the economy into recession, as stated in a Reuters report. Addressed to Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, the letter urged immediate tariff relief. “Higher costs and disrupted supply chains are endangering small businesses across America,” said Suzanne P. Clark, President and CEO of the Chamber, in a statement released on May 2. She added, “Whether it is coffee, bananas, cocoa, minerals or numerous other products, the reality is certain things just can’t be produced in the United States. Tariffs on such essentials only raise costs for struggling families.” The Chamber requested automatic exclusions for small business importers, a system for case-by-case tariff exemptions where American jobs are at risk, and tariff waivers on goods not readily available in the US. Trump admin: No recession, just renegotiation Despite mounting concerns, US Treasury Secretary Scott Bessent insisted that the economy is not in recession, according to Reuters. Testifying before the House Appropriations Committee on May 6, Bessent claimed that while first-quarter GDP showed a dip, he expected upward revisions in the coming weeks. He also revealed that the US was in talks with 17 countries to secure new trade deals, though he admitted that no discussions had yet begun with China. Still, official numbers suggest early signs of distress. According to the US Commerce Department’s April 2025 report, the country’s GDP contracted by 0.3 per cent in the first quarter—the first economic shrinkage in three years. Imports dropped 2.8 per cent, reflecting weakening domestic demand, while exports fell 3.6 per cent, indicating reduced global competitiveness due to retaliatory tariffs. In response, China introduced steep counter-tariffs, prompting multinational corporations to slash revenue forecasts and stall expansion plans. Although the White House has announced a 90-day pause on the most aggressive tariffs, analysts say the damage to business confidence is already done. “It’s hard for companies to plan even three months ahead,” said James Rossiter, Head of Global Macro Strategy at TD Securities. “Let alone envision what five years might look like,” as quoted by Reuters in April. IMF narrates different story Amid the uncertainty, the International Monetary Fund (IMF) offered a more measured outlook, according to a Reuters report. In its April 17 global forecast, the IMF acknowledged that tariff-related uncertainty is “literally off the charts” and warned of a growing erosion of trust between nations. However, it stopped short of declaring a global recession. “Our new growth projections will include notable markdowns, but not recession,” said IMF Managing Director Kristalina Georgieva, speaking at the IMF Spring Meetings in Washington. She emphasized that global share prices had suffered amid heightened trade tensions and called for coordinated policy responses to restore stability. “A better balanced, more resilient world economy is within reach. We must act to secure it,” Georgieva urged. She called on Europe to eliminate restrictions on internal trade in services, encouraged China to expand its social safety net to reduce precautionary saving, and urged the US to rein in its growing public debt. Meanwhile, the World Trade Organization (WTO) projected a decline in global trade volumes due to the Trump tariffs. The European Central Bank reduced its key interest rate, citing growing trade tensions, while the Bank of England warned of increased risks to global growth and financial stability—developments widely reported by Bloomberg and Reuters. From Inflation Control to Stagflation Fears As inflationary pressures mount due to higher import costs, economists are now warning of stagflation—a dangerous blend of slow growth, rising unemployment, and persistent inflation. According to the Reuters survey, 19 out of 29 major central banks are expected to miss their inflation targets in 2025, and more than half may continue to miss them into 2026. The Road Ahead As negotiations inch forward, the global economy stands at a crossroads. Trump’s tariffs have disrupted a fragile post-pandemic recovery, spooked markets, and reignited fears of global economic disintegration. The long-term consequences may extend far beyond trade balances—impacting jobs, inflation, and investor confidence for years to come.

Trump tariffs to trigger global recession? Reuters survey says…

<div class="x_elementToProof" data-olk-copy-source="MessageBody">In a provocative move ahead of crucial trade talks in Geneva, US President Donald Trump announced that an 80 per cent tariff on Chinese goods &ldquo;seems right,&rdquo; marking the first time he has floated a specific figure since his administration imposed sweeping levies of up to 145 per cent on imports from China. The statement, posted on Trump&rsquo;s Truth Social account on May 9, comes just hours before US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer meet Chinese economic chief He Lifeng in Switzerland, in what officials are calling a tentative first step toward resolving deep-rooted trade tensions between the world&rsquo;s two largest economies.</div>
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<div class="x_elementToProof">&ldquo;China should open up its market to the USA,&nbsp;it would be so good for them!!! Closed markets don&rsquo;t work anymore!!!&rdquo; Trump wrote. He added, &ldquo;80% tariff on China seems right. Up to Scott B,&rdquo; signalling&nbsp;his delegation to explore the feasibility of this new benchmark. According to Reuters, this is Trump&rsquo;s first public suggestion of a specific alternative to the existing tariff structure, which has drawn criticism from industry leaders and allies alike for disrupting global supply chains. Financial markets responded swiftly, with US stock futures dipping and the dollar weakening in Europe before stabilising later in the day.</div>
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<div class="x_elementToProof">Speaking from the Oval Office on May 9, Trump said the US would maintain a baseline tariff of 10 per cent on imports even after trade deals are struck, allowing exemptions only for countries offering &ldquo;significant trade terms.&rdquo; He suggested that new trade agreements are on the horizon, stating, &ldquo;We always have a baseline of 10%,&rdquo; and hinted that Bessent had been given room to negotiate down from the current tariff ceiling. The Geneva meeting represents the first face-to-face encounter between US and Chinese trade officials since Trump returned to the White House.</div>
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<div class="x_elementToProof">Since taking office for a second term, Trump has escalated his trade offensive, slapping 145 per cent average tariffs on Chinese imports, adding to the tariffs imposed during his first term and those maintained by the Biden administration. In retaliation, China has raised its tariffs on US goods to as high as 125 per cent and imposed export restrictions on rare earth elements vital to sectors like defence, electronics, and green energy. Beijing has also targeted high-profile American exports such as soybeans and liquefied natural gas, intensifying the economic standoff.</div>
<h2 class="x_elementToProof"><b>Geneva Talks: First step or false start?</b></h2>
<div class="x_elementToProof">The US-China trade talks in Geneva are taking place today, Saturday, May 10, 2025. This meeting marks the first direct negotiation between top officials from both nations since Trump returned to the presidency. US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are representing Washington, while Chinese Vice Premier He Lifeng is leading Beijing&rsquo;s delegation. The talks aim to reopen stalled economic dialogue without preconditions, according to the US Treasury Department&mdash;a move interpreted by analysts as a cautious attempt to de-escalate.</div>
<div class="x_elementToProof"></div>
<div class="x_elementToProof">However, the context remains tense. Trump&rsquo;s public push for an 80 per cent tariff, despite being a step down from the current 145 per cent, may complicate diplomatic efforts. China&rsquo;s reciprocal tariffs of up to 125 per cent and strategic export curbs on rare earth materials continue to set a combative tone. Whether today&rsquo;s talks lead to substantive progress or serve as a diplomatic reset remains uncertain.</div>
<h2 class="x_elementToProof"><b>US-China trade dependency</b></h2>
<div class="x_elementToProof">Despite the political posturing, economic data paints a picture of deep interdependence between the two superpowers. According to the US Census Bureau, in 2023, the US imported $427 billion worth of goods from China, making it the country&rsquo;s third-largest trading partner after Mexico and Canada. At the same time, US exports to China totalled&nbsp;$148 billion, with key outbound products including soybeans, semiconductors, aircraft, and LNG.</div>
<div class="x_elementToProof">From Beijing&rsquo;s side, the US was China&rsquo;s second-largest export market in 2023, accounting for around 15 per cent of its total exports, according to China&rsquo;s General Administration of Customs. This mutual reliance complicates any attempt at economic decoupling.</div>
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<div class="x_elementToProof">Whether Geneva will mark a turning point or simply another headline in the US-China economic standoff remains to be seen. But what is clear is that decisions taken in this weekend&rsquo;s meeting could have far-reaching implications for global trade flows, supply chains, and investor confidence.</div>
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Business & Economy: Trump makes a huge statement ahead of the US-China critical trade meeting in Switzerland on May 10.

In a provocative move ahead of crucial trade talks in Geneva, US President Donald Trump announced that an 80 per cent tariff on Chinese goods “seems right,” marking the first time he has floated a specific figure since his administration imposed sweeping levies of up to 145 per cent on imports from China. The statement, posted on Trump’s Truth Social account on May 9, comes just hours before US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer meet Chinese economic chief He Lifeng in Switzerland, in what officials are calling a tentative first step toward resolving deep-rooted trade tensions between the world’s two largest economies. “China should open up its market to the USA, it would be so good for them!!! Closed markets don’t work anymore!!!” Trump wrote. He added, “80% tariff on China seems right. Up to Scott B,” signalling his delegation to explore the feasibility of this new benchmark. According to Reuters, this is Trump’s first public suggestion of a specific alternative to the existing tariff structure, which has drawn criticism from industry leaders and allies alike for disrupting global supply chains. Financial markets responded swiftly, with US stock futures dipping and the dollar weakening in Europe before stabilising later in the day. Speaking from the Oval Office on May 9, Trump said the US would maintain a baseline tariff of 10 per cent on imports even after trade deals are struck, allowing exemptions only for countries offering “significant trade terms.” He suggested that new trade agreements are on the horizon, stating, “We always have a baseline of 10%,” and hinted that Bessent had been given room to negotiate down from the current tariff ceiling. The Geneva meeting represents the first face-to-face encounter between US and Chinese trade officials since Trump returned to the White House. Since taking office for a second term, Trump has escalated his trade offensive, slapping 145 per cent average tariffs on Chinese imports, adding to the tariffs imposed during his first term and those maintained by the Biden administration. In retaliation, China has raised its tariffs on US goods to as high as 125 per cent and imposed export restrictions on rare earth elements vital to sectors like defence, electronics, and green energy. Beijing has also targeted high-profile American exports such as soybeans and liquefied natural gas, intensifying the economic standoff. Geneva Talks: First step or false start? The US-China trade talks in Geneva are taking place today, Saturday, May 10, 2025. This meeting marks the first direct negotiation between top officials from both nations since Trump returned to the presidency. US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are representing Washington, while Chinese Vice Premier He Lifeng is leading Beijing’s delegation. The talks aim to reopen stalled economic dialogue without preconditions, according to the US Treasury Department—a move interpreted by analysts as a cautious attempt to de-escalate. However, the context remains tense. Trump’s public push for an 80 per cent tariff, despite being a step down from the current 145 per cent, may complicate diplomatic efforts. China’s reciprocal tariffs of up to 125 per cent and strategic export curbs on rare earth materials continue to set a combative tone. Whether today’s talks lead to substantive progress or serve as a diplomatic reset remains uncertain. US-China trade dependency Despite the political posturing, economic data paints a picture of deep interdependence between the two superpowers. According to the US Census Bureau, in 2023, the US imported $427 billion worth of goods from China, making it the country’s third-largest trading partner after Mexico and Canada. At the same time, US exports to China totalled $148 billion, with key outbound products including soybeans, semiconductors, aircraft, and LNG. From Beijing’s side, the US was China’s second-largest export market in 2023, accounting for around 15 per cent of its total exports, according to China’s General Administration of Customs. This mutual reliance complicates any attempt at economic decoupling. Whether Geneva will mark a turning point or simply another headline in the US-China economic standoff remains to be seen. But what is clear is that decisions taken in this weekend’s meeting could have far-reaching implications for global trade flows, supply chains, and investor confidence.

Trump advises Bessent to keep the 10% tariff baseline ahead of the US-China Geneva talks

<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>
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<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"><b>US-China trade talks resume amid fresh tariff threats</b><b></b></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"><b>Impact of the Trade War on China</b></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

<p><span data-olk-copy-source="MessageBody">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.</span></p>
<p><span>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.</span></p>
<p><span>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.</span><span></span></p>
<h2><span><b>China-Russia Economic Ties: From Sanctions to Strategic Dependency</b></span></h2>
<p><span>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.</span></p>
<p><span>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.</span></p>
<p><span>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.</span></p>
<p><span>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.</span></p>
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<p><span><b>Xi-Putin joint address in Russia</b></span></p>
<p><span>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;</span><span>&ldquo;Both sides strongly oppose the imposition of unilateral illegitimate restrictive measures and external interference in the internal affairs of sovereign states.&rdquo;</span></p>
<p><span>Xi emphasised&nbsp;that,&nbsp;</span><span>&ldquo;China stands together with Russia in opposing unilateralism, bullying, and interference by powerful forces in the name of international rules.&rdquo;&nbsp;</span></p>
<p><span>Putin echoed the sentiment, stating,&nbsp;</span><span>&ldquo;Together with our Chinese friends, we stand guard over historical truth and uphold global fairness, stability, and order.&rdquo;</span></p>
<p><span>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;</span><span></span></p>
<h2><span><b>The Geneva Talks: China&rsquo;s Diplomatic Tightrope</b></span></h2>
<p><span>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.</span></p>
<p><span>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</span></p>
<p><span>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.</span></p>

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>
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<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>
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<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>
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<h2><b data-olk-copy-source="MessageBody">What prompted the move?</b></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>
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<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;<span>&nbsp;</span><i>The Guardian<span>&nbsp;</span></i>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>
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<div><span>(<em>With inputs from agencies</em>)</span></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"><b>Climate crisis hits coffee farms hard</b></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"><b>Trump tariffs brew fresh trouble</b></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"><b>Prices, profits and panic: A triple-whammy situation</b></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"><b>How small businesses are adapting?</b></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

<p>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.</p>
<p>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.</p>
<h2>South Korea's economy braces for tariffs</h2>
<p>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.</p>
<h2>India closes in on a trade deal</h2>
<p>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.</p>
<p>India's finance minister, Nirmala Sitharaman, has also expressed optimism, stating that India hopes to conclude the first phase of the deal by fall.</p>

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

<p>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.</p>
<p><strong>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></strong></p>
<p>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."</p>
<p>"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.</p>
<p><strong>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></strong></p>
<p>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."</p>
<p>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."</p>

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

<p data-pm-slice="0 0 []">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.</p>
<p><strong>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></strong></p>
<p>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.</p>
<p>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.</p>
<h3>Product to bear the brunt:</h3>
<p>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.</p>
<p><strong>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></strong></p>
<p>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'.</p>
<p>Canada and Mexico have currently been exempted from these scathing tariffs, though they, along with China, are already paying taxes on select products.</p>
<p>This isn't the end yet, the land of penguins and seals are also on the list.</p>

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

<p><span data-preserver-spaces="true">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.</span></p>
<p><span data-preserver-spaces="true">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.</span></p>
<h2><strong><span data-preserver-spaces="true">April 'Liberation Day'</span></strong></h2>
<p><span data-preserver-spaces="true">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. </span></p>
<p><span data-preserver-spaces="true">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;</span></p>
<p><strong><span data-preserver-spaces="true">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></span></strong></p>
<h2><strong><span data-preserver-spaces="true">Off to Florida as markets crash</span></strong></h2>
<p><span data-preserver-spaces="true">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.</span></p>
<p><span data-preserver-spaces="true">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.</span></p>
<p><span data-preserver-spaces="true">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.</span></p>
<p><span data-preserver-spaces="true">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;</span></p>
<p><strong><span data-preserver-spaces="true">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></span></strong></p>
<p><span data-preserver-spaces="true">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.</span></p>
<h2><strong><span data-preserver-spaces="true">A lavish dinner and a last-minute U-turn</span></strong></h2>
<p><span data-preserver-spaces="true">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.</span></p>
<p><span data-preserver-spaces="true">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;</span></p>
<p><span data-preserver-spaces="true">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.</span></p>
<p><span data-preserver-spaces="true"><strong>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></strong></span></p>
<h2><strong><span data-preserver-spaces="true">'A mad king'</span></strong></h2>
<p><span data-preserver-spaces="true">&ldquo;He&rsquo;s certainly living up to the caricature of being a mad king,&rdquo; Democratic strategist Kurt Bardella told The Guardian.</span></p>
<p><span data-preserver-spaces="true">&ldquo;When you&rsquo;re addressing a ballroom in a tuxed</span></p>
<p><span data-preserver-spaces="true">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.</span></p>
<p><span data-preserver-spaces="true">&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.</span></p>
<p><em><span data-preserver-spaces="true">(With inputs from agencies)</span></em></p>

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

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