Washington: After weeks of anticipation, US President Donald Trump unveiled sweeping new tariffs on trading partners Wednesday, calling it a “declaration of economic independence.” A fresh “baseline tariff” of 10 percent will apply to economies around the world, with steeper rates tailored to those that Washington deemed as bad actors. What are the details of … Read more
Washington: Stocks slumped, bonds surged, and gold hit a new high as markets braced for the impact of US President Donald Trump’s sweeping reciprocal tariffs on Thursday. Trump announced a baseline 10 per cent tariff on all imports with far higher levies on some trading partners, particularly in Asia. US stock futures were under pressure … Read more
Donald Trump on Wednesday (local time) announced reciprocal tariffs, which he called “Liberation Day”. Washington: US Treasury Secretary Scott Bessent on Wednesday warned trading partners that any retaliation to the barrage of new tariffs from the White House would only result in further escalation. “My advice to every country right now is, do not retaliate,” … Read more
New Delhi: Escalating a global trade war, US President Donald Trump unleashed a barrage of reciprocal tariffs to match duties put on US goods by other countries. The American commander-in-chief said he would impose a 10 per cent baseline tariff on all imports to the United States and higher duties on some of the country’s … Read more
A tariff offensive Donald Trump billed as key to America’s long-term prosperity went down badly in markets late Wednesday, setting off declines of 2% or more in equity benchmarks that had rallied for three days on hopes the program would be less draconian. A $577 billion exchange-traded fund tracking the S&P 500 (SPY) fell about … Read more
Washington: Gold prices extended gains on Wednesday to hover near all-time highs, boosted by safe-haven inflows after U.S. President Donald Trump announces reciprocal tariffs that would escalate a trade war. Spot gold was up 0.6% at $3,129.46 an ounce at 04:53 p.m. EDT (2053 GMT). U.S. gold futures settled 0.6% higher at $3,166.20. “The reciprocal … Read more
This is not full reciprocal, it is kind reciprocal, Trump said. President Donald Trump on Wednesday unveiled global reciprocal tariffs during an event at the White House. The following are highlights of Trump’s remarks: “In many cases, the friend is worse than the foe in terms of trade,” Trump said. “We subsidize a lot of … Read more
Washington: Oil prices fell to negative territory after rising by a dollar in post-settlement trade on Wednesday as U.S. President Donald Trump announced reciprocal tariffs on trading partners, stoking concerns that a global trade war may dampen demand for crude. Brent futures settled 46 cents higher, or 0.6%, at $74.95 a barrel, while U.S. West … Read more
Trump will announce the “Liberation Day” tariffs later tonight. London: Britain’s finance minister on Wednesday said the UK will not “rush into action” over impending US tariffs, as the government hopes to reach a post-Brexit trade deal with Washington. “The prize on offer is a good economic agreement between us and the United States; we … Read more
US President Donald Trump will unleash his sweeping global tariffs today amid fears that equity markets could go on a whirlwind and force countries to take emergency measures. It will most likely result in an all-out trade war. Gripped by a stark frenzy, the world could see an economic meltdown due to Trump’s reciprocal tariffs, … Read more
Sydney: Australian Prime Minister Anthony Albanese and his rival in a May election, Liberal Party leader Peter Dutton, said they would stand up for the country’s national interests in the face of looming US tariffs that could hit Australian beef. Australia has a trade surplus with the United States, and a free trade agreement that … Read more
On Sunday, the US president appeared to substantially expand his tariff plans, insisting that “all countries” would be targeted. “You would start with all countries, so let’s see what happens,” Trump told reporters, dashing hopes that he might scale back some of the levies or that they would target a select group of nations. “I … Read more