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US 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.inUS stocks experienced a significant downturn on Thursday, following former President Donald Trump's recent tariff announcement, which sent shockwaves through the market. The S&P 500 index plummeted 4.8 per cent, closing at 5,396.52, marking its steepest single-day drop since June 2020. The tech-heavy Nasdaq Composite fell even more sharply, declining 6.0 per cent to finish at 16,550.6. Meanwhile, the Dow Jones Industrial Average also suffered, closing down 4 per cent at 40,545.93. Traders expressed growing concerns over the potential economic impact of the tariffs, prompting widespread sell-offs across major indices. This dramatic market reaction underscores the fragility of investor sentiment amid ongoing trade tensions and uncertainty.
Published: Apr 04 2025, 2 ameznews.inIn a significant market downturn, Wall Street stocks plunged on Thursday, with the S&P 500 dropping over four percent following President Donald Trump's sweeping tariff announcement, dubbed "Liberation Day." The new levies, impacting all US trading partners, particularly affected key sectors such as banking, technology, and apparel, with only consumer staples showing resilience. By 1510 GMT, the S&P 500 was at 5,420.15, down 4.4 percent, while the Dow Jones Industrial Average fell 3.7 percent and the Nasdaq Composite Index plummeted 5.7 percent. Analysts expressed concerns over the tariffs' potential to reduce corporate earnings and reignite inflation, with some predicting a looming recession and bear market. Notably, major companies like Nike, Macy's, and Apple experienced significant losses, underscoring the uncertainty in the market. Experts suggest that the administration may reconsider the tariffs as negotiations evolve, highlighting the precarious economic landscape ahead.
Published: Apr 04 2025, 12 ameznews.inPresident Donald Trump's recent decision to dismiss several senior officials from the National Security Council (NSC) has drawn attention, particularly following a meeting with far-right activist Laura Loomer, who advocated for the firings based on her research. Loomer, known for her controversial views, including 9/11 conspiracy theories, has been active in Trump's 2024 campaign and has publicly questioned the loyalty of certain NSC members. The Oval Office meeting included key figures such as Vice President JD Vance and national security adviser Mike Waltz. Despite the significance of the discussions, NSC spokesman Brian Hughes refrained from commenting on personnel changes. The firings coincide with scrutiny over Waltz's use of the encrypted Signal app for sensitive military planning, which raises concerns about communication security after journalist Jeffrey Goldberg was mistakenly added to the conversation. This incident underscores ongoing issues regarding national security protocols within the White House.
Published: Apr 04 2025, 12 ameznews.inThe Pentagon's inspector general is set to investigate Defence Secretary Pete Hegseth's use of the commercial messaging app Signal for discussions about air strikes in Yemen, according to a memo released on Thursday. This inquiry follows a scandal involving an accidental leak of a group chat among senior security officials, which included details about military actions targeting Yemen's Huthi rebels aimed at protecting commercial shipping in the Red Sea and Gulf of Aden. The investigation will assess compliance with Department of Defence policies regarding the use of commercial messaging for official business, as well as adherence to classification and records retention requirements. The probe was initiated following a request from the leaders of the Senate Armed Services Committee, comprising both a Republican and a Democrat. The leak was highlighted by The Atlantic, revealing that a prominent journalist was unintentionally included in the chat.
Published: Apr 04 2025, 12 ameznews.inPresident Donald Trump expressed confidence in the resilience of the US economy amid turmoil in global markets, attributing the chaos to his administration's worldwide tariffs. Speaking to reporters as he departed the White House for Florida, Trump declared, "The markets are going to boom," and reassured that "the country is going to boom" despite the recent stock market rout. His comments come as investors grapple with the implications of his trade policies, which have sparked widespread volatility. The president's optimistic outlook stands in stark contrast to the concerns voiced by market analysts and economists regarding the potential long-term impacts of the tariffs on economic stability. As the situation develops, many will be watching closely to see if Trump's predictions hold true in the face of ongoing market uncertainties.
Published: Apr 04 2025, 12 ameznews.inUS President Donald Trump's recent announcement of widespread tariffs could result in a 1 percent contraction in global merchandise trade volumes this year, according to World Trade Organization (WTO) chief Ngozi Okonjo-Iweala. Following Trump's implementation of 10 percent import duties on all nations and higher tariffs on specific countries, including China and the European Union, Okonjo-Iweala expressed concerns about the significant implications for global trade and economic growth. The WTO's latest estimates indicate a nearly four percentage point decline from previous projections, with 74 percent of global trade still operating under the WTO's Most-favoured-nation status, down from 80 percent earlier this year. Okonjo-Iweala urged WTO members to manage tensions arising from these US measures responsibly, warning of a potential tariff war and emphasizing the organization's role in fostering dialogue to prevent escalating trade conflicts.
Published: Apr 03 2025, 11 pmeznews.inIndia is set to send relics of the Buddha, unearthed in Devni Mori, Gujarat, to Thailand for an exposition, as announced by Prime Minister Narendra Modi following discussions with Thai Prime Minister Paetongtran Shinawatra in Bangkok. Modi expressed his delight in sharing these Holy Relics, discovered during excavations in 1960 at the site believed to be a Mahastupa, which was 37 feet high and surrounded by monasteries. The relics, contained within a casket of green schist and a copper box, were previously sent to Thailand last year, allowing over four million devotees to pay their respects. Modi received a copy of the revered 108 volumes of the Tipitaka, Buddhist scriptures in Pali, from his Thai counterpart, emphasizing the cultural and spiritual ties between the two nations.
Published: Apr 03 2025, 11 pmeznews.inCanada has announced a 25 percent tariff on certain automobiles imported from the United States in response to President Donald Trump's recently implemented tariffs. Prime Minister Mark Carney stated that the tariffs would apply to vehicles not compliant with the Canada-United States-Mexico Agreement (CUSMA), although the specific percentage of affected imports remains unclear. While Canada was largely exempt from Trump's broader global tariffs, it continues to face levies on steel, aluminum, and other products. Carney warned that Trump's trade policies could disrupt the global economy, declaring an end to the post-World War II era of U.S. economic leadership and collaborative trade. He described the situation as "a tragedy." Last week, Carney and Trump discussed the importance of negotiating future bilateral trade relations following Canada's upcoming election on April 28.
Published: Apr 03 2025, 10 pmeznews.inPrime Minister Narendra Modi and Bangladesh's Chief Advisor Muhammad Yunus shared a moment during an official dinner at the BIMSTEC summit in Bangkok, where discussions on potential bilateral talks were anticipated. The interim government of Bangladesh is eager for these discussions amid concerns over the country's deteriorating law and order situation since the fall of the Awami League government in August 2024. New Delhi has expressed worries about the rise of extremist elements and the government's leniency towards them, including the easing of visa policies for Pakistani nationals. Additionally, the Indian Ministry of External Affairs has highlighted the ongoing violence against religious minorities in Bangladesh, urging the interim government to protect these communities. Modi's recent letter to Yunus emphasized the importance of a stable partnership based on mutual respect, as Bangladesh officially assumes the BIMSTEC chairmanship on Friday.
Published: Apr 03 2025, 10 pmeznews.inHungary has announced its withdrawal from the International Criminal Court (ICC), a move that follows Israeli Prime Minister Benjamin Netanyahu's state visit to the country amidst an ICC arrest warrant against him for alleged war crimes and crimes against humanity related to the Israel-Hamas conflict. Hungarian Prime Minister Viktor Orban, a staunch supporter of Netanyahu, dismissed the ICC's authority, claiming its ruling would have "no effect" in Hungary and labeling the court a "political court." Netanyahu praised Hungary's decision as "bold and principled," while Israeli Foreign Minister Gideon Sa'ar expressed gratitude for Orban's support. In contrast, Germany's Foreign Minister condemned the withdrawal as detrimental to international criminal law. Although Hungary's exit may not significantly affect the ICC's operations, it raises concerns about a potential trend of nations questioning their commitments to international justice. Hungary's formal withdrawal will take effect one year after notifying the UN Secretary General.
Published: Apr 03 2025, 10 pm
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