eznews.inUS President Donald Trump's announcement of sweeping tariffs on imports has sent shockwaves through global markets, leading to significant stock declines and a surge in bond and gold prices. The tariffs include a baseline 10 percent levy on all imports, with particularly steep increases for trading partners like China, which faces a 34 percent tariff, and Japan, which is hit with a 24 percent tariff. Following the announcement, US stock futures plummeted, with Nasdaq futures down 4 percent and S&P 500 futures dropping 3.3 percent. Asian markets mirrored this trend, with Japan's Nikkei index falling over 3 percent. Meanwhile, oil prices dropped amid fears of a global trade war dampening demand. Analysts warn that these tariffs could lead to retaliatory measures from affected countries, potentially escalating into a full-blown trade conflict and increasing recession fears in the US. 
Published: Apr 03 2025, 6 ameznews.inUS President Donald Trump announced new "Liberation Day" tariffs on Wednesday, igniting concerns of a potential trade war. In a speech at the White House, Trump declared April 2, 2025, as a pivotal date for American industry, asserting that it would mark a resurgence in domestic manufacturing. He criticized foreign nations for "stealing" American jobs and emphasized a need for "tough love" in trade relations, stating, "We will supercharge our domestic industrial base." The tariffs will impose a minimum 10 percent charge on imports, with China facing a steep 34 percent tariff due to alleged unfair trade practices. Trump framed the tariffs as a benevolent move, suggesting they were a discounted response to existing foreign charges. He argued that America's historical reliance on tariffs had previously contributed to its wealth and insisted that the nation could no longer afford economic surrender to other countries.
Published: Apr 03 2025, 7 ameznews.inPrime Minister Narendra Modi has embarked on a significant two-nation visit, first to Thailand for the 6th BIMSTEC Summit, followed by a two-day trip to Sri Lanka. Upon his arrival in Thailand, he will receive a warm welcome from the Indian community and meet with Thai Prime Minister Paetongtarn Shinawatra for a ceremonial reception. Modi will participate in the BIMSTEC Summit, where he will join leaders from several nations, including Nepal, Bangladesh, Myanmar, and Bhutan, to sign the Agreement on Maritime Cooperation and adopt the Bangkok Vision 2030, aimed at enhancing regional stability and addressing climate change. Additionally, Modi is set to meet Thai King Maha Vajiralongkorn and visit Wat Pho, renowned for its reclining Buddha. In Sri Lanka, he will engage with President Anura Kumara Dissanayake to strengthen bilateral ties and explore new avenues for cooperation, reinforcing India's commitment to regional partnerships.
Published: Apr 03 2025, 7 ameznews.inA 31-year-old Indian national, Sai Kumar Kurremula, has been sentenced to 35 years in federal prison for the sexual exploitation of minors via a social media app. Living in Edmond, Oklahoma on an immigrant visa, Kurremula posed as a teenage boy to gain the trust of at least 19 victims, coercing them into producing child pornography. Following a lengthy investigation by the FBI, he was charged in April 2022 with sexual exploitation and transportation of child pornography. During the sentencing, US District Judge Charles Goodwin emphasized the severe impact of Kurremula's actions on the vulnerable victims and their families. Kurremula admitted to threatening his victims with violence and public humiliation to ensure compliance. US Attorney Robert Troester condemned Kurremula's actions as deserving of such a lengthy sentence, warning that those who exploit children will face the harshest penalties.
Published: Apr 03 2025, 7 ameznews.inPresident Donald Trump has enacted a 10% baseline tariff on imports from all countries, alongside higher rates for nations with trade surpluses with the United States, fulfilling a key campaign promise aimed at balancing international trade. Economists caution that these tariffs, which are essentially taxes on importers, may lead to increased prices for consumers, potentially within months of implementation. While Trump and his Republican allies intend to use the revenue from these tariffs—estimated at $80 billion last year—to finance tax cuts primarily benefiting higher-income households, concerns are growing about the impact on consumer spending amid ongoing inflationary pressures. The president is leveraging emergency powers to impose these tariffs, a move that may face congressional challenges. In contrast, the average US tariff remains lower than those of other countries, prompting the administration to argue that other nations impose significantly higher effective tariffs on American goods.
Published: Apr 03 2025, 7 ameznews.inIn a significant escalation of global trade tensions, US President Donald Trump announced a sweeping set of tariffs, imposing a baseline duty of 10% on all imports and higher rates on major trading partners, including 34% on China, 20% on the European Union, and 26% on India. Speaking from the White House, Trump described the move as a "declaration of independence." International leaders reacted strongly, with Australian Prime Minister Anthony Albanese warning that American consumers would bear the brunt of these tariffs, while Canadian Prime Minister Mark Carney vowed to counteract the measures, citing their impact on millions of Canadians. British Prime Minister Keir Starmer emphasized that a trade war serves no one's interests, and several European leaders, including Spain's Pedro Sanchez and Sweden's Ulf Kristersson, expressed a desire for cooperation and negotiation to avoid escalating conflicts. The European Union plans to respond to the tariffs by the end of April, targeting US actions on steel and aluminum.
Published: Apr 03 2025, 5 ameznews.inPrime Minister Anthony Albanese has condemned Donald Trump's announcement of 10-percent tariffs on Australian goods, stating that such actions are "not the act of a friend." Speaking at a news conference, Albanese emphasized the importance of trade to Australia's economy, with one in four jobs reliant on it, and asserted that Australia imposes no tariffs on US imports, arguing that US tariffs should be zero. He described the tariffs as "totally unwarranted" and warned that they could alter public perception of the longstanding US-Australia relationship, which has been marked by military alliance and cooperation on defense projects, including nuclear-powered submarines. Trump justified the tariffs by claiming that Australia restricts US beef imports while exporting significant quantities of its own beef to the US. Albanese reassured Australians that his government would continue to advocate for their jobs, industries, and values amid these uncertain times.
Published: Apr 03 2025, 5 ameznews.inUS President Donald Trump announced a significant new tariff regime on Wednesday, describing it as a "declaration of economic independence." Starting April 5, a 10 percent baseline tariff will be imposed on global trading partners, with increased rates for those deemed "bad actors." Notably, the European Union will face a 20 percent tariff, while China will see a staggering 34 percent rate, compounding an earlier 20 percent levy related to fentanyl, bringing the total to 54 percent. Other affected countries include India, South Korea, and Japan, with tariffs ranging from 24 to 26 percent. However, Canada and Mexico are exempt from these new tariffs due to existing agreements. In addition, Trump announced the end of duty-free exemptions for small parcels from China, imposing a 30 percent duty or $25 per item, escalating to $50 after June 1. The move is expected to impact various sectors, including automotive and consumer goods.
Published: Apr 03 2025, 6 ameznews.inDonald Trump's announcement of a minimum 10% tariff on all exporters to the US, along with significant additional duties on around 60 nations, triggered a sharp decline in equity markets late Wednesday, erasing gains from the previous three days. The S&P 500 exchange-traded fund dropped approximately 2.5% after regular trading, while bonds rose. China faces a 34% tariff, the European Union a 20% levy, and Japan a 24% tariff. Analysts view these steep tariffs as a negotiation tactic, with potential for future reductions, though concerns grow over their impact on the slowing economy and inflation. Michael O'Rourke warned that these tariffs could further decelerate economic growth, while Todd Jablonski noted that the effects may already be priced into the market. Investors remain cautious, as the evolving tariff landscape creates uncertainty, but some see a potential buying opportunity amid the volatility.
Published: Apr 03 2025, 4 ameznews.inGold prices surged on Wednesday, nearing all-time highs, as investors sought safe-haven assets following U.S. President Donald Trump's announcement of aggressive reciprocal tariffs, which are expected to escalate the ongoing trade war. Spot gold rose 0.6% to $3,129.46 an ounce, while U.S. gold futures also climbed by 0.6%, settling at $3,166.20. Independent metals trader Tai Wong noted that the unexpected nature of the tariffs could lead to market sell-offs and a weaker dollar, with a short-term gold target of $3,200. Trump revealed a 10% baseline tariff on all imports, with higher rates for major trading partners, including 34% on China. The dollar index fell by 0.4%, making gold more affordable for foreign buyers. Meanwhile, other metals showed mixed results, with silver and platinum both up 0.7%, while palladium dipped 0.8%. The latest U.S. employment data is anticipated later this week.
Published: Apr 03 2025, 4 am
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