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Stocks tank, havens rally as Trump tariffs fan trade war
Equity markets suffered a bloodbath Thursday after Donald Trump delivered a "haymaker" blow with sweeping tariffs against US partners and rivals, fanning a global trade war that many fear will spark recessions and ramp up inflation. Oil also suffered big losses, with both main contracts down more than two percent on fears that the shock to economies would hit demand.
Financial markets tumble after Trump tariff announcement
Global financial markets were rocked on Wednesday by Donald Trump's announcement of sweeping tariffs, targeting China and the European Union in particular, with the risk of undermining the international economy. The bond market also played its role as a safe haven, with the yield on the benchmark ten-year US Treasury, easing to 4.10 percent after Donald Trump's announcement.
Europe riled, but plans cool-headed response to Trump's tariffs
European politicians and a German industry group criticised US tariffs announced by President Donald Trump on Wednesday, but said they were aiming for a cool-headed response. - US warns: don't retaliate - The German chemicals industry called for the EU to "keep a cool head," warning that "a spiral of escalation would only increase the damage".
'Shenmue' voted most influential video game ever in UK poll
The 1999 action game "Shenmue" was on Thursday named the most influential video game of all time following a survey organised by BAFTA, the British association that honours films, television, and video games.
New coal capacity hit 20-year low in 2024: report
The world added the smallest amount of new coal capacity in two decades last year, a report said Thursday, but use of the fossil fuel is still surging in China and India. Last year also saw a record number of new coal proposals in India, the report warned.
Key details on Trump's market-shaking tariffs
After weeks of anticipation, US President Donald Trump unveiled sweeping new tariffs on trading partners Wednesday, calling it a "declaration of economic independence." - Exclusions - Major US partners Canada and Mexico, however, are not subject to the new tariffs, White House officials said Wednesday.
'A little tough love': Top quotes from Trump tariff talk
US President Donald Trump unveiled his "Liberation Day" tariffs on Wednesday, sending fears of a trade war ricocheting around the world. - Despite unveiling "minimum baseline" tariffs of 10 percent on trading partners, Trump sought to spin his move as a positive for global trade.
US business groups voice dismay at Trump's new tariffs
President Donald Trump's sweeping tariff announcement on Wednesday was widely panned by US business lobbying groups, who voiced concern about the impact of the new duties on their operations. Despite the widespread condemnation, some lobbying groups were more positive about the announcement.
US tariffs take aim everywhere, including uninhabited islands
The world's remotest corners couldn't hide from US President Donald Trump's global tariffs onslaught Wednesday -- even the uninhabited Heard and McDonald Islands. Strings of ocean specks around the globe, including Australia's Cocos (Keeling) Islands and the Comoros off the coast of Africa, were likewise subjected to 10 percent new tariffs.
AFP
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