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President 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. 
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Apr 03 2025, 7 ameznews.inStock markets across Asia and Europe experienced significant crashes, reminiscent of past financial turmoil, following the announcement of new trade tariffs by US President Donald Trump. Despite his claims that "oil prices are down" and "there is no inflation," experts warned of an impending recession as markets reacted negatively to the tariffs. Trump criticized China as the "biggest abuser" after Beijing retaliated with a 34% tariff on US imports, asserting that past leaders had allowed such abuses to persist. Meanwhile, Federal Reserve Chair Jerome Powell cautioned that the tariffs could lead to higher inflation and slower economic growth, contradicting Trump's calls for immediate interest rate cuts. European indices plummeted, with Paris and London dropping over 6%, and Asian markets also faced severe sell-offs, prompting trading halts in Japan. The Bombay Stock Exchange saw a drop of 5%, erasing substantial investor wealth.
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Apr 07 2025, 6 pmeznews.inA Chinese foreign ministry spokesperson condemned U.S. President Donald Trump's latest tariffs on Chinese goods as "economic bullying" and indicative of "unilateralism and protectionism." Lin Jian's remarks came after Trump imposed an additional 34% tariff, raising the total duties on China to 54% for the year. He argued that such tariffs serve only U.S. interests, harming other nations, particularly those in the Global South, and exacerbating global inequality. Lin suggested that the question of negotiations with the U.S. should be addressed by other parties and emphasized the need for countries to promote consultation and genuine multilateralism. He called for a collective stance against unilateralism and protectionism, urging nations to uphold the values of the United Nations and World Trade Organization in safeguarding the international trading system.
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Apr 07 2025, 6 pmeznews.inPARIS: A significant stock market collapse in Asia and Europe on Monday, triggered by China's retaliation against steep US tariffs, has drawn parallels to past market crises, with analysts labeling the declines as "historic" and likening them to a "bloodbath." The turmoil echoes previous market crashes, notably the 2020 Covid-19 pandemic, which saw global stocks plummet after the WHO's declaration, with major cities like Paris and Madrid experiencing declines of up to 17 percent. The 2008 financial crisis, driven by subprime mortgage failures, resulted in a staggering 30 to 50 percent drop in stock markets worldwide, while the bursting of the dot-com bubble in 2000 saw the Nasdaq index lose 39.3 percent. Historical precedents also include the 1987 Black Monday crash, where the Dow Jones fell by 22.6 percent, and the 1929 Wall Street collapse that initiated the Great Depression.
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Apr 07 2025, 4 pmeznews.inAn Indiana man has been arrested for murder after allegedly boasting about the crime on social media, including a YouTube video. Cameron Kizer Jr., 19, has been charged in connection with the shooting death of 20-year-old Jathen Maxwell in Fort Wayne on July 25. Following a months-long investigation, authorities revealed that Kizer posted online shortly after the incident, with one post reportedly reading "headshot." Additionally, Kizer's YouTube rap video contained lyrics suggesting he was addressing a conflict, including the line, "I gotta finish the beef they started." Investigators also spoke to a witness who claimed Kizer had threatened Maxwell on social media prior to the shooting and noted Kizer's own admission of a confrontation with Maxwell days before the incident. In remembrance, Maxwell's loved ones described him as a cherished brother and son.
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Apr 07 2025, 4 pmeznews.inTwo women have been arrested for the murder of a Pakistani faith healer, Riaz Hussain, in Multan, Punjab, after they allegedly strangled him with a scarf. Police reported that the women sought Hussain's help to remove black magic curses but became victims of his sexual harassment and blackmail, as he recorded compromising videos of them. Along with their cousin and another accomplice, they killed Hussain and disposed of his body. The incident highlights a troubling trend in Pakistan, where faith healers, often revered in local communities, have been known to exploit vulnerable individuals. Past cases include a pregnant woman hospitalized after a nail was hammered into her head, and another woman who died following brutal treatment during an alleged exorcism. The four suspects have been charged with murder, and a fifth individual has also been arrested in connection with the case.
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Apr 07 2025, 5 pmeznews.inAn Indian national, Singh Sagar, has been charged with stealing over SGD 1,800 (INR 1,14,705) worth of goods from five shops at Singapore's Changi Airport. The 37-year-old faces five theft charges after allegedly pilfering items such as stationery, chocolates, and jewellery from Terminal 3's departure transit area over a span of three hours on March 23. His spree commenced at WH Smith bookstore, where he reportedly stole more than SGD 550 (INR 35,032) worth of merchandise, including stationery sets and a power bank. He continued his theft at various stores, including The Cocoa Trees and Victoria's Secret, taking multiple boxes of chocolates, jewellery, and other items. Following the thefts, police apprehended Singh, preventing his departure from Singapore. He is scheduled to plead guilty on April 25.
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Apr 07 2025, 3 pmeznews.inThe death of 17-year-old Walid Ahmad in an Israeli prison is believed to be primarily due to starvation, according to an autopsy observed by Dr. Daniel Solomon. Ahmad, who had been held for six months without charge for allegedly throwing stones, suffered from severe malnutrition and signs of colon inflammation and scabies. Palestinian officials reported that he collapsed in Megiddo Prison, where conditions have reportedly worsened since the outbreak of the Gaza war. Rights groups claim widespread abuse in Israeli detention facilities, with many prisoners experiencing inadequate medical care and poor sanitary conditions. Ahmad's family, who described him as a healthy teen before his arrest, has not yet received a death certificate and seeks to reclaim his body for burial. The Israeli prison service stated it operates within the law, while an investigation into Ahmad’s death is ongoing.
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Apr 07 2025, 3 pmeznews.inOn April 2, 2023, US President Donald Trump announced sweeping tariffs that exceeded expectations, prompting a global market downturn and raising fears of inflation and economic instability reminiscent of the Great Depression. While most countries have refrained from immediate retaliation, China has implemented reciprocal tariffs of 34% on US imports, targeting Trump’s agricultural supporters. The European Union is divided on retaliation, with nations like Germany and France opting for cautious negotiations amid political transitions. The Prime Minister of Singapore warned that smaller nations might lose bargaining power as trade negotiations shift to bilateral agreements. As the US pivots away from globalization, India faces a critical moment, seeking to negotiate a multi-sectoral trade agreement to navigate the new tariffs. Despite the chaos, opportunities for cooperation, particularly in technology and defense, remain as the US aims to maintain its global leadership against the backdrop of rising competition from China.
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Apr 07 2025, 3 pmeznews.inGlobal markets experienced a staggering $5 trillion loss following President Donald Trump's announcement of sweeping tariffs affecting 184 countries, but billionaire investor Warren Buffett emerged not only unscathed but also wealthier. According to the Bloomberg Billionaires Index, Buffett was the sole billionaire among the world's ten richest to gain, adding $12.7 billion to his net worth, which now stands at $155 billion, tying him with Bill Gates. While major tech figures like Elon Musk and Jeff Bezos suffered significant financial hits, Buffett strategically shifted $134 billion from stocks to a record $334 billion cash reserve, primarily in short-term US Treasury bills, effectively shielding Berkshire Hathaway from the market downturn. Despite fears of recession exacerbated by the tariffs, Berkshire's shares have risen 9% year-to-date. Buffett has denied endorsing Trump's tariff policies, stating he will remain silent on the matter until the upcoming shareholder meeting on May 3.
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Apr 07 2025, 3 pmeznews.inResidents in Myanmar's earthquake-affected regions are preparing for thunderstorms following heavy rains that hampered rescue efforts after a devastating 7.7 magnitude quake struck near Mandalay on March 28. The disaster has left 3,564 confirmed dead, over 5,000 injured, and many missing, with extensive damage reported across six regions, including Naypyitaw. The military government has announced that thousands of buildings, schools, and infrastructure have been damaged, complicating relief operations. Rescuers have faced challenges due to inclement weather, which has caused additional collapses and hindered access to affected areas. Amidst ongoing civil unrest since the military coup in February 2021, the situation remains dire, with many survivors sleeping outdoors as they await assistance. The state-run MRTV has warned of continued rain and strong winds, urging the public to remain vigilant against potential landslides and further hazards.
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Apr 07 2025, 2 pm
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