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African Development Bank chief warns of tariff 'shock wave'
African Development Bank chief warns of tariff 'shock wave'

An onslaught of tariffs by the United States will send "shock waves" through African economies, the president of the African Development Bank said on Friday, warning of reduced trade and higher debt-servicing costs. A baseline 10-percent levy remains in place for all countries, along with higher tariffs on Chinese imports to the United States -- scrambling decades of global trade policy.

Jolted by Trump, EU woos new partners from Asia to Latin America
Jolted by Trump, EU woos new partners from Asia to Latin America

Shaken by Donald Trump's tariff blitz, the EU has embarked on a charm offensive to diversify its alliances in Asia and beyond, with summits lined up back-to-back and trade talks launched in all directions. This week alone, the EU agreed to launch talks for a free trade deal with the United Arab Emirates and confirmed a high-level summit in China in July, hot on the heels of a meeting in Japan.