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America's passion for tariffs rarely pays off, economists warn
Long before Donald Trump's "Liberation Day" announcement, the United States had toyed with imposing high tariffs throughout its history, with inconclusive -- and sometimes catastrophic -- results. During his first term in office, Donald Trump reopened the tariff ledger and decided on new measures against China, many of which were maintained under his successor, Joe Biden.
Trump's global tariff takes effect in dramatic US trade shift
US President Donald Trump's widest-ranging tariffs to date took effect Saturday, in a move which could trigger retaliation and escalating trade tensions that could upset the global economy.
Vital European defence startups still facing hurdles
Opportunities and investment have surged for European defence startups since Russia's invasion of Ukraine, industry players say, with shifts by governments and investors shaking up a sector long a byword for ponderous development. But the urgent need to develop state-of-the-art battlefield tech -- a constantly moving target in the crucible of Ukraine -- continues to run into hurdles.
US soybeans, energy: Who is hit by China's tariff retaliation?
US agricultural exports, fuels and manufactured goods are set to take a hit from China's blanket retaliation against President Donald Trump's sharp tariffs, with both sets of measures due to take effect next week. But China likely has more confidence to retaliate this time compared with Trump's first presidency, when he engaged in a tit-for-tat tariff war with Beijing.
California to defy Trump's tariffs to allay global trade fears
California Governor Gavin Newsom said Friday that he will seek agreements with the rest of the world to avoid the expected retaliations against US President Donald Trump's tariffs. "Donald Trump's tariffs do not represent all Americans, particularly those that I represent here in the fifth largest economy in the world, the state of California."
Trump tariffs offer opportunity for China
In unleashing global tariffs, President Donald Trump has vowed to remake the world to benefit US workers. "Unlike previous presidents, President Trump fully understands the nature and scope of the problem -- and the existential threat posed by China -- and what needs to be done," Smith said.
Trump's tariff Big Bang puts global economy under threat
It took just one 50-minute speech by US President Donald Trump to undermine global economic stability and raise the prospect of a recession, with China's countermeasures only amplifying the risk of a debilitating tit-for-tat trade war. But it said things could get worse if a tit-for-tat trade war began, and on Friday China announced retaliatory tariffs on US goods of 34 percent.
TikTok faces new US deadline to ditch Chinese owner
TikTok on Friday was hours from a deadline to find a non-Chinese owner or face a ban in the United States. In the hours before that deadline, TikTok temporarily shut down in the United States and disappeared from app stores, to the dismay of millions of users.
US Fed Chair warns tariffs will likely raise inflation, cool growth
US President Donald Trump's tariffs risk higher unemployment and will likely cause inflation to rise and growth to slow, Federal Reserve Chair Jerome Powell said Friday. Ahead of Powell's speech on Friday, Donald Trump took to his Truth Social account to insist that his tariff policy would not change despite the market reaction, and called on Powell to act.
AFP
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