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German Chancellor Olaf Scholz emphasized the importance of protecting sovereign borders during a recent address to his Social Democrat party, especially in light of US President-elect Donald Trump's controversial comments regarding potential military actions to seize Greenland and control the Panama Canal. Scholz asserted that the principle of inviolable borders applies universally, regardless of a country's size or power, and reiterated that no nation should live in fear of its larger neighbors. He highlighted the significance of this principle in the context of Russia's invasion of Ukraine, stating that it is central to Western values. Scholz's remarks come after Trump’s statements sparked confusion among EU leaders, prompting Scholz to call a press conference to address the situation and underscore the necessity of mutual respect among nations. 
Published: Jan 11 2025, 7 pmeznews.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 ameznews.inIn a recent announcement from the White House, President Donald Trump unveiled "reciprocal tariffs" aimed at countries imposing high tariffs on American goods, specifically targeting India, which he accused of charging a steep 52 percent. During a meeting with Prime Minister Narendra Modi, Trump expressed his discontent, stating, "You've not been treating us right." As a response, the US will impose a 26 percent tariff on Indian imports, effective April 9, following a baseline tariff of 10 percent set to begin on April 5. Trump emphasized that these measures are part of a broader strategy to reclaim American jobs and industries, declaring April 2 as "Liberation Day." He described the tariffs as fair, asserting that America will charge only half of what other countries charge. Other countries facing specific tariffs include China (34 percent), the EU (20 percent), and Vietnam (46 percent), among others.
Published: Apr 03 2025, 4 ameznews.inUS Treasury Secretary Scott Bessent has issued a stark warning to international trading partners against retaliating to the new tariffs announced by former President Donald Trump, which he referred to as "Liberation Day." Speaking on Fox News, Bessent urged countries to refrain from responding to the tariffs, emphasizing that retaliation would only lead to further escalation of trade tensions. He advised nations to "sit back" and observe the situation, suggesting that non-retaliation could mark a peak in the current trade disputes. Bessent's comments come amid heightened concerns over the potential for a trade war, as the White House implements these tariffs in a bid to reshape international trade dynamics.
Published: Apr 03 2025, 4 ameznews.inUS President Donald Trump has unveiled substantial reciprocal tariffs on imports from India and China, asserting that the US will charge 26% on Indian goods and 34% on Chinese products, which he claims is half of what these countries impose on American imports. During the announcement in the White House Rose Garden, Trump criticized India's tariffs as "very very tough," and emphasized his friendship with Indian Prime Minister Narendra Modi while insisting on fair treatment. Additionally, tariffs of 20% on the European Union and 10% on the UK, along with a 24% levy on Japan, were also introduced. The tariffs are part of a broader strategy to address trade imbalances, with a baseline 10% import duty set to take effect on April 5, followed by the new country-specific tariffs starting April 9. Trump declared April 2 as "Liberation Day," pledging to reclaim American jobs and industries.
Published: Apr 03 2025, 2 ameznews.inPresident Donald Trump announced new global reciprocal tariffs during a White House event on Wednesday, asserting that the U.S. will prioritize American interests in trade. He criticized current trade practices, stating that "the friend is worse than the foe" and questioned why the U.S. subsidizes countries like Mexico and Canada. Trump described trade deficits as a "national emergency" rather than just an economic issue. The tariffs, which range from 10% to 49%, are designed to be lower than the rates charged by other countries, with some exceptions where the rates match. He emphasized that the tariffs are "kind reciprocal," rather than fully reciprocal. A list of new tariff rates was presented, detailing charges for various countries, including Algeria at 30%, Lesotho at 50%, and several others at 10%, reflecting a significant shift in U.S. trade policy.
Published: Apr 03 2025, 3 ameznews.inPresident Donald Trump announced on Wednesday a 10% baseline tariff on all imports to the United States, alongside steeper duties for major trading partners, escalating a trade war initiated upon his return to the White House. This significant policy shift aims to reverse decades of trade liberalization, potentially leading to retaliatory measures from affected nations, which could drive up prices on various goods, from bicycles to wine. "It's our declaration of independence," Trump stated during a White House event, showcasing proposed tariffs of 34% on China and 20% on the European Union. While the tariffs are set to take effect immediately, official enforcement notices are pending. The administration has already implemented 20% tariffs on Chinese imports and 25% on steel and aluminum. Economists warn these tariffs could hinder global economic growth and increase living costs for American families, while businesses express concerns over operational planning amidst ongoing uncertainty.
Published: Apr 03 2025, 3 am
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