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'Tariff trickle-down': Analysts point to production stoppage at U.S. car company
The U.S. car company Stellantis has announced that it will stop producing vehicles at plants in Mexico and Canada as President Donald Trump's tariffs take effect. Trump announced a 25% tax on automobiles, and according to one MSNBC host, Trump's tariffs are already hitting Americans. NBC News business and data correspondent Brian Cheung explained that Stellantis, which manufactures Jeep, will "have ripple effects to even their U.S. operations." ALSO READ: 'Decimated for 60 years': GOP senator warns tariff backlash has dearly cost RepublicansAbout 900 U.S. employees at Stellantis plants are getting temporarily laid off this week. In Canada, about 4,500 hourly workers are being cut, CNBC reported. "Again, this is something that we have been warned about when it came to the auto tariffs, which, by the way, were announced last week," said Cheung. "The auto tariffs are a bit separate from what was announced yesterday, but nonetheless, it would be a 25% tariff on any sort of automotive product that is imported into the United States, which could include exactly those that are made in plants, like in Mexico and Canada. But you're seeing the intertwined nature of it, such that when they shut those down, they have to shut down the stamping plants as well." Host Ana Cabrera was shocked, repeating "900 layoffs they're already putting out there as a result of all of the tariff trickle down."She then welcomed Moody's chief economist Mark Zandi, who said, "My reaction [to the markets]? Ugh. I mean. Really. The damage this is doing is, you know, clearly evident. And it's just going to continue to mount. I mean, if these tariffs are fully implemented and implemented quickly, it's going to push the U.S. economy, the global economy, into recession. I just don't see any other way around it."He went on to call it a "massive tax increase on American consumers and businesses."See the clip below or at the link right here. - YouTube www.youtube.com
'Went bankrupt six times': MSNBC host offers inside perspective from Trump's favorite bank
MSNBC host Stephanie Ruhle reminded viewers Thursday morning that, for all of his bragging, President Donald Trump was always a terrible businessman. Speaking to "Morning Joe's" Jonathan Lemire, she proclaimed, "Donald Trump is not trusted in a business sense." "What is he great at? He's great at branding. He's great at marketing. He's a phenomenal politician. What he's not great at is business," said Ruhle. "As a business person, we all know this; he went bankrupt six times," she recalled. "The one business he tried to operate was a casino that he drove into the ground. And the reason he didn't do business with big U.S. banks is because they were unwilling to do business with him. I know this because I worked at Deutsche Bank, the bank that actually did do business with him."ALSO READ: 'Chaos': Small biz owner hit by Trump’s last tariff reveals key flaw that hurts companiesShe also told viewers that Trump is also known for not committing to deals he's made and contracts that he has signed. "And now he's doing that on American soil with American trading policies," she said. "And this could put our country in grave risk when it comes to being the superpower that we are. And if you don't believe me, listen to what Rand Paul has to say, right? An elected official who knows what this will do politically and economically, and it's hugely dangerous."She noted that in trade, there are long-term partnerships and investments, and "for years," the U.S. urged manufacturers to stop doing business in China. "They're our adversary. Go to Vietnam. Now look what we're doing to Vietnam," she said, pointing to Trump's tariffs. "In Trump's first administration, it was Trump and Jared Kushner who renegotiated NAFTA to create the USMCA, a 'better' NAFTA. Now they're tearing it up. We're losing trust with our global partners. And that's a huge problem."Finally, she said that the White House has been saying that it will be "short-term pain" but long-term gain. She said she hasn't heard "one single CEO" saying that they will build a new plant in the U.S.Ruhle explained that building a plant typically takes three to five years. "Three to five years from now, Donald Trump is not going to be in office. Who knows if he'll retract on these tariffs? And in order for you to make any sort of investment, a long-term investment, you have to trust the information. You have to trust your counterparty."Even the math doesn't make sense, she said. "This idea that having a trade deficit means all these other countries are ripping us off, that's not the case."See the video below or at the link right here. - YouTube youtu.be
Tata redundancy scheme targeted older, non-Indian nationals in UK, tribunal hears
Three claimants allege Mumbai-based consultancy firm discriminated against them during restructuringA UK division of the Indian conglomerate Tata “deliberately orchestrated” a redundancy programme in a way that unfairly targeted older, non-Indian nationals, an employment tribunal has heard.Three claimants allege the Mumbai-based Tata Consultancy Services (TCS), which is valued at almost £110bn on the BSE stock exchange in Mumbai, discriminated against them on grounds of age and nationality during a restructuring that began in mid-2023. Continue reading...
'The markets are not healing': CNBC host snaps at Trump comment as Wall Street reels
CNBC "Squawk Box" host Andrew Ross Sorkin fired back at Donald Trump in real time on MSNBC Thursday after the president crowed about the success of his "Liberation Day" on Truth Social.Appearing on "Morning Joe" to discuss the president's decision to impose tariffs worldwide –– including two islands that contain no human inhabitants –– the normally unflappable Sorkin was explaining the economic chaos Trump set in motion on the U.S and world markets when he was alerted to the Trump social media post.ALSO READ:'Not much I can do': GOP senator gives up fight against Trump's tariffsWith "Morning Joe" host Mika Brzezinski reading Trump's post that stated in all-caps, "The operation is over! The patient lived, and is healing. The prognosis is that the patient will be far stronger, bigger, better, and more resilient than ever before. Make America great again!!!" she asked her guest, "How are the markets reacting?""The markets are not healing, no, no!" he exclaimed. "We are down–– we're down 3 percent on the Dow, if not more. And the big question, we've talked about this before is, you know, to bring back manufacturing to the U.S., for companies to actually have to make real decisions now about what to do.""Some of them are going to bring back manufacturing to the U.S. and they may do it quickly, but there's going to be a lot more who are going to try to play politics and play chicken and say, 'You know what? I don't know whether in 3 or 4 years from now, these tariffs will still be the same and if they're not, it's going to take me 3 or 4 years for my factory that I'm going to build to be online anyway. So you know what? I'm going to take the chance that things are going to not go so well,' and therefore these will get changed or eliminated or shifted, or the politics in the United States will otherwise adjust."He then advised, "And if that's the case, the next couple of years is going to be very complicated because it means that nobody's going to make any investment –– it's going to freeze that investment."You can watch below or at the link. - YouTube youtu.be
'Bright side': Ex-GOP lawmaker says Trump's tariffs could be 'large awakening' to his base
Former Rep. Adam Kinzinger (R-IL) released an "Emergency Video" to his Substack readers Thursday about President Donald Trump's wide-ranging tariffs that he claimed could finally wake up even Trump's most ardent supporters."This will show the American people that his ideas and his thoughts on this are insane, and also his thoughts on other things are insane," Kinzinger said. "So, if there is a bright side, it's that this could be the beginning of a large awakening of his base, and generally, the American people."On Wednesday, after the markets closed, Trump held a "liberation day" celebration in the Rose Garden to announce he was signing a “historic executive order instituting reciprocal tariffs on countries throughout the world.” During his speech, Trump falsely claimed that a lack of tariffs directly led to the Great Depression in 1929."It would have never happened if they had stayed with the tariff policy; it would have been a much different story," Trump claimed. "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 tariffsKinzinger called Trump's action, "one of the dumbest self-owns that this country has done in a very long time.""But here's the thing," Kinzinger said, "He's been talking about this forever. Now, MAGA gets to see. Maybe it does work. Maybe this goes against everything, any economics system, economics professor, or theorist, or anybody that's ever studied economies, or, frankly, any past history of economies. Smoot-Hawley. Maybe this goes against that, and maybe this is a miracle. That would be great! All of a sudden, everybody gets a great, high-paying job at a factory if they want it."Kinzinger then issued a warning: "But, if it's not — if this is going to damage the economy — MAGA now owns this. Donald Trump now owns this. And the damage that's going to be done is on his hands, and we can never forget that. We can never forgive that."Kinzinger predicted that once it appears his plans have irrevocably soured and the U.S. has plunged into a recession, "Trump's going to find some made-up reason why he's changed his mind on tariffs, and he's going to play like that was his five-dimensional chess game he's been playing all along. But it's not true. He thinks this is going to work. He really thinks...the economy's going to shine."Watch Kinzinger's Substack video.
‘I heard them take their last breath’: survivor recounts Gaza paramedic killings
Munther Abed, 27, was in the first ambulance on the scene of an airstrike near Rafah when Israeli soldiers opened fire• Gaza paramedic killings: a visual timelineA survivor from a massacre of Palestinian paramedics and rescue workers in Gaza has said he saw Israeli troops open fire on a succession of Red Crescent ambulances and rescue vehicles and then use a bulldozer to bury the wreckage in a pit.Munther Abed, a 27-year-old Red Crescent volunteer, was in the back of the first ambulance to arrive on the scene of an airstrike in the Hashashin district of Rafah before dawn on 23 March, when it came under intense Israeli fire. His two Red Crescent colleagues sitting in the front were killed but he survived by throwing himself to the floor of the vehicle. Continue reading...
UK watchdog to probe charity co-founded by Prince Harry after boardroom dispute
Britain's charity regulator has opened an investigation into an African charity co-founded by Prince Harry, a week after the prince and the organization's board of trustees resigned amid a dispute with the charity's chairwoman.
Millions of Afghans lose access to healthcare services as USAID cuts shut clinics
Fears of surge in malnutrition, measles, malaria and polio as 206 World Health Organization facilities forced to close ‘I begged them, my daughter was dying’: how Taliban male escort rules are killing mothers and babiesMore than 200 health facilities run by the World Health Organization in Afghanistan, providing medical care for 1.84 million people, have closed or ceased operating after the US aid cuts announced by the Trump administration shut off life-saving medical care, including vaccinations, maternal and child health services.On his first day in office in January, President Donald Trump announced an immediate freeze on all US foreign assistance, including more than $40bn (£32bn) for international projects coming from USAID, the United States Agency for International Development. It was later confirmed that more than 80% of USAID programmes had been cancelled. Continue reading...
The Gaza paramedic killings: a visual timeline
On 23 March contact was lost with a team of Palestinian rescue workers and medics in southern Gaza. A week later their bodies were recovered from a mass graveAt 4.20am, a Red Crescent ambulance on its way to collect people injured by an airstrike in Rafah comes under Israeli fire in Hashashin. Two paramedics are killed. Continue reading...
Sri Lanka's crackdown on dogs for India PM's visit sparks protest
Sri Lankan animal rights activists marched on Thursday to protest the round-up of stray dogs a day ahead of a visit by Indian Prime Minister Narendra Modi. Authorities in Colombo and the Buddhist pilgrim city of Anuradhapura have reportedly deployed dog catchers to impound hounds ahead of Modi's visit, which begins on Friday.Many of Colombo's strays are beloved by their adopted neighbourhoods despite lacking formal owners -- and are dubbed "community" canines rather than street dogs.Around a dozen protesters from the Rally for Animal Rights and Environment (RARE) waved placards outside President Anura Kumara Dissanayake's office in Colombo after submitting a petition to India's high commission. "Stop the cruel removal of our community dogs," one placard read.Protesters said that many of the dogs in public parks had been vaccinated and neutered and were cared for by locals and animal welfare groups."How can Sri Lanka promote tourism when we are a country known for animal cruelty?" another placard read.Protesters urged New Delhi's intervention to "prevent the cruel and unnecessary removal of these dogs", saying that the round-up of dogs would create "displacement, suffering, and potential harm".Modi is set to receive an official welcome at Colombo's Independence Square, where dog catchers are reported to have been busy in this week.He is also set to visit Anuradhapura, 200 kilometres (124 miles) north of the capital, to pay homage to a fig tree believed to have grown from a cutting from the tree under which the Buddha attained enlightenment more than 2,500 years ago.The tree is both an object of worship and a symbol of national sovereignty on the majority Buddhist island of 22 million people.aj/pjm/dhc© Agence France-Presse
Top Russian official in Washington for talks on improving ties
Russia's top economic negotiator announced Thursday that he was in Washington for talks on improving ties, the highest-level visit by a Kremlin official to the United States since Russia invaded Ukraine.Kirill Dmitriev, the head of Russia's sovereign wealth fund, said he was "holding meetings in Washington with representatives of President Donald Trump's administration", without elaborating.US media reported that Dmitriev arrived Wednesday and was expected to meet with Trump envoy Steve Witkoff at the White House, though his itinerary has not been made public.The talks come as Trump pushes for warmer ties with Moscow, reaching out to President Vladimir Putin and holding direct talks with Russian officials in the hope of brokering a ceasefire in the three-year Ukraine war."The dialogue between Russia and the United States, which is crucial for the entire world, was completely destroyed under the Biden administration," Dmitriev wrote on Telegram, announcing the visit."Restoring dialogue is not an easy process, and it's gradual. But every meeting, every frank conversation allows us to move forward," he added.- Trump 'angry' -The White House has not publically commented on the visit, while the Kremlin said details would be revealed only after Dmitriev had finished his meetings.Dmitriev did not say what would be discussed in his meetings, but the trip comes after Trump voiced frustration at the slow pace of ceasefire negotiations for Ukraine.Putin last month rejected a joint US-Ukrainian proposal for a full and unconditional ceasefire, and has made a US-proposed truce in the Black Sea dependent on the West lifting certain sanctions.Trump also told NBC News over the weekend that he was "very angry, pissed off" with Putin after he suggested Ukrainian President Volodymyr Zelensky be removed from power as part of a peace settlement.But he claimed to have "a very good relationship" with his Russian counterpart and said "the anger dissipates quickly... if he does the right thing."Russia is hoping Washington will lift massive sanctions on its economy as part of a peace settlement, including those targeting its state-owned agricultural lender.Dmitriev, who was himself sanctioned by the United States, was allowed to visit only after the restrictions on him were temporarily eased, US media reported.A former Goldman Sachs banker and graduate of Stanford University in California, Dmitriev has played a key role in the rapprochement between Russia and the United States, taking part in the first round of talks with Trump officials in Saudi Arabia in February.Witkoff, a key Trump ally, had already travelled to Russia to meet Putin last month.Senior Russian diplomat Sergei Ryabkov said Thursday that recent contacts had not yet yielded a "breakthrough"."Step by step, slowly, we are beginning to move, I hope, towards normality," he told Russia's International Life magazine.bur-cad/as/js© Agence France-Presse
Post-earthquake ceasefires in Myanmar offer rare opportunity for disaster diplomacy
Temporary ceasefires announced by warring groups in Myanmar in the wake of last week’s devastating 7.7 magnitude earthquake represent a rare de-escalation of a conflict that since 2021 has taken thousands of lives and uprooted more than 3 million people
