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Trump announces sweeping new tariffs, upending decades of US trade policy
President to impose ‘reciprocal’ tariffs on largest trading partners and says new charges will bring about ‘golden age’Business live – latest updatesDonald Trump announced sweeping tariffs on some of its largest trading partners on Wednesday, upending decades of US trade policy and threatening to unleash a global trade war on what he has called “liberation day”.Trump said he will impose a 10% universal tariff on all imported foreign goods in addition to “reciprocal tariffs” on a few dozen countries, charging additional duties onto countries that Trump claims have “cheated” America. Continue reading...
Myanmar's military declares a ceasefire to ease quake relief as deaths pass 3,000
Myanmar’s ruling military has declared a temporary ceasefire in the country’s civil war to facilitate relief efforts following a 7.7 magnitude earthquake that has killed more than 3,000 people
'Heads are going to explode': Critics stunned as Trump delivers bizarre history lesson
President Donald Trump got a thorough roasting on social media Wednesday after claiming that a lack of tariffs caused the country to spiral into the Great Depression in 1929. Trump made the remarks during a Rose Garden appearance touting his "liberation day" tariffs as the hand-picked audience that included Vice President JD Vance, Secretary of State Marco Rubio, and Michigan autoworkers applauded. Trump said he would use the occasion to sign a “historic executive order instituting reciprocal tariffs on countries throughout the world.” Trump then began giving a history lesson of sorts. "In 1913, for reasons unknown to mankind, they established the income tax so that citizens rather than foreign countries would start paying the money necessary to run our government," Trump said. "Then, in 1929, it all came to a very abrupt end with the Great Depression, and it would have never happened if they had stayed with the tariff policy; it would have been a much different story. They tried to bring back tariffs to save our country, but it was gone. It was gone. It was too late. Nothing could have been done."ALSO READ: 'Not much I can do': GOP senator gives up fight against Trump's tariffsTrump continued, "It took years and years to get out of that depression, far longer than even FDR — had that office right over there for a long period of time. The ramp system, it's rather intricate, was built because of him. And every time you walk up, you think of him. And he did a great job in many ways — but it lasted long beyond his terms, as you know. But it's not too late any longer, and we're going to start being smart, and we're going to start being very wealthy again." On Bluesky, columnist Brian J. Karem posted, "NOW: According to Trump the Great Depression would have never happened if we had tariffs in 1929. WE DID! AND worse, President Hoover signed the Smoot-Hawley Tariff Act into law in 1930, which raised import duties by an average of 20%. International trade suffered." Aaron Reichlin-Melnick, senior fellow at the American Immigration Council, wrote, "Trump just claimed the Great Depression wouldn't have happened if we still had tariffs. I..." "Trump claims lack of tariffs caused the Great Depression. All the free-trader economists' heads are going to explode," posted Bloomberg's Steven T. Dennis, while The Financial Times' Alan Beattie posted, "Trump thinks that cutting tariffs caused the Great Depression. I mean it's a view I guess." Watch the clip below or at this link. Watch the clip below via CNN.
Why Starmer’s trade diplomacy may still bear fruit despite 10% tariffs on UK
Retaliation may not be needed as Britain likely to be ‘front of the queue’ in agreeing deal to redraw trade relationshipWhat is the best way to respond to Donald Trump and his sweeping tariffs? Keir Starmer thinks the answer is to tread softly, softly – while engaging in intensive negotiations behind the scenes.There are signs that this strategy is bearing fruit. On Wednesday night, the president announced “reciprocal tariffs on countries throughout the world” including a 10% import tax on UK exports to the US – crucially, lower than the 20% imposed on the EU. The 10% rate was the lowest rate Trump announced and applied to several other countries including Australia, Singapore and Brazil.100 days of Trump’s presidency, with Jonathan Freedland and guests Continue reading...
Trump hits UK with 10% tariffs as he ignites global trade war
Britain gets off comparatively lightly but US president’s action could still cost billions in lost growthUS politics – latest updatesDonald Trump has hit the UK with tariffs of 10% on exports to the US as he ignited a global trade war that could wipe billions off economic growth.The US president accused other nations, including allies, of “looting, pillaging, raping and plundering” the US, as he announced tariffs on economic rivals including 20% on the EU and 34% on China as part of what he dubbed “liberation day”. Continue reading...
Argentina's President Milei draws pushback over his Falklands War speech
Argentina’s libertarian President Javier Milei has marked the anniversary of his nation’s failed 1982 attempt to forcibly wrest the Falkland Islands from Britain by expressing hope that the island’s residents may one day choose to be Argentine rather t...
Israel is ‘seizing territory’ and will ‘divide up’ Gaza, Netanyahu says
Prime minister says Israel will build a new security corridor to isolate parts of the strip in major escalation Benjamin Netanyahu has said Israel is “seizing territory” and intends to “divide up” the Gaza Strip by building a new security corridor, amid a major expansion of aerial and ground operations in the besieged Palestinian territory.“Tonight, we have shifted gears in the Gaza Strip. The [Israeli army] is seizing territory, hitting the terrorists and destroying the infrastructure,” the prime minister said in a video statement on Wednesday evening. Continue reading...
Collapse of China-built Bangkok tower raises concerns about Belt and Road construction practices
China's global Belt and Road Initiative is under intense scrutiny here after just one structure in the Thai capital collapsed in last week's earthquake: a 30-floor building under construction by China.
'What in the world?' Farmers left bewildered by Trump demand
U.S. farmers who are desperately awaiting congressionally appropriated funds to pay their bills have been told by the Trump administration that they first need to remove "diversity aspects or make other revisions to better align" their clean energy projects "with President Donald Trump’s agenda."A new report in The Washington Post said farmers received the confusing demand in a letter from the Agriculture Department last week urging farmers to make the changes in exchange for quicker payments.Agriculture Secretary Brooke Rollins wrote that "the department was issuing a course correction after the Inflation Reduction Act, President Joe Biden’s signature climate and health-care law, delivered more bureaucracy than benefits for rural families," according to the Post.ALSO READ: 'Not much I can do': GOP senator gives up fight against Trump's tariffs"But farmers said the announcement only created more confusion and another hurdle to receive funding they desperately need to pay off loans and replenish money they had already spent on projects," wrote reporter Daniel Wu.One farmer in Maryland, Michael Protas, who was expecting funds for solar panel installation, said he forwarded the letter to his USDA representative, asking, "What in the world does this mean? DEI has nothing to do with solar panels. I don’t know what they’re asking for.”Wu wrote that the Agriculture Department "declined to answer questions from The Washington Post about what changes to remove diversity, equity, inclusion and accessibility from rural energy projects could entail."Hana Vizcarra, an Earthjustice attorney suing the Agriculture Department said the farmers “expect the government just to fulfill their obligations. And instead, as the new administration came in, they just froze all the funds and disrupted work that was already ongoing and put everything at risk.”Travis Forgues, who runs a creamery in Wisconsin, reportedly told The Post, “When you’re trying to talk about solar or energy independence, this is not a DEI issue. And quite frankly, if it was a DEI issue, who cares?”Read The Washington Post article here.
Judiciary must be protected, says Macron, as judge who sentenced Le Pen put under guard
French president tells ministers that judges are independent and ‘all litigants have the right of appeal’Emmanuel Macron has said the French judiciary is independent and must be protected as a judge was put under police guard after sentencing Marine Le Pen to an immediate ban from running for office.Speaking on Wednesday, two days after the far-right leader’s conviction for the embezzlement of European parliament funds, the French president told ministers that “judges must be protected” and that “all litigants have the right to appeal.” Continue reading...
Norovirus outbreak strikes Queen Mary 2 transatlantic cruise
The norovirus broke out on the Cunard Line's Queen Mary 2, leaving 224 cruise passengers and 17 crew sick with symptoms including diarrhea and vomiting.
Trump imposes a 10% baseline tariff, reciprocal tariffs on 'worst offender' nations
President Trump on Wednesday imposed a baseline tariff of 10% on all imports and additional, reciprocal levies on "worst-offender" nations in a bold restructuring of the global trading order he views as fundamentally unfair to the U.S. and calamitous for its workers.