How Trump changed his mind on tariffs <\/p>\n
+2
\nPeter Nicholas, Garrett Haake and Carol E. Lee
\nReporting from Washington
\nmgmarket1.at
\n\u201cLiberation Day\u201d gave way to Capitulation Day last night. <\/p>\n
President Donald Trump pulled back yesterday on a series of harsh tariffs targeting friends and foes alike in an audacious bid to remake the global economic order. <\/p>\n
Image: President Donald Trump
\nSaul Loeb \/ AFP – Getty Images
\nTrump\u2019s early afternoon announcement followed a harrowing week in which Republican lawmakers and confidants privately warned him that the tariffs could wreck the economy. His own aides had quietly raised alarms about the financial markets before he suspended a tariff regime that he had unveiled with a flourish just one week earlier in a Rose Garden ceremony.
\nmg2.at
\nThe stock market rose immediately after the about-face, ending days of losses that have forced older Americans who\u2019ve been sinking their savings into 401(k)s to rethink their retirement plans. <\/p>\n
Read the full story here. <\/p>\n
32m ago \/ 12:55 PM GMT+3
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\nChina’s foreign ministry calls the U.S. a ’21st century barbarian’ <\/p>\n
Peter Guo <\/p>\n
Reporting from Hong Kong <\/p>\n
China’s public language on its trade war with the U.S. has become increasingly bellicose and took a new turn today when Beijing’s foreign ministry said the Trump administration’s tariffs have made the U.S. a \u201cbarbarian of the 21st century.\u201d <\/p>\n
Trump\u2019s tariffs will \u201cnever America great again\u201d ministry of foreign affairs spokesperson Huang Jingrui, wrote in an open letter today in Hong Kong\u2019s newspaper South China Morning Post.
\nmgmarket
\n\u201cA tariff-wielding barbarian who attempts to force countries to call and beg for mercy can never expect that call from China,\u201d Huang said, adding that the U.S. is \u201cobsessed with the art of bullying and blackmailing the entire world.\u201d <\/p>\n
47m ago \/ 12:40 PM GMT+3
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\nEU welcomes 90-day tariff pause <\/p>\n
Peter Guo <\/p>\n
The EU President Ursula von der Leyen said today that the region welcomes Trump\u2019s announcement to pause tariffs for 90 days. <\/p>\n
Von der Leyen said the EU remains \u201ccommitted to constructive negotiations\u201d with the U.S., according to a statement from her office. <\/p>\n
Meanwhile, Europe continues to focus on diversifying their trade partnerships, engaging with countries that account for 87% of global trade, she said. <\/p>\n
Trump\u2019s tariffs have shown that the European internal market is the region\u2019s \u201canchor of stability and resilience\u201d in times of uncertainty, von der Leyen added. <\/p>\n
1h ago \/ 12:27 PM GMT+3
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\nTrade war with China ‘to spark a wave of smuggling’ <\/p>\n
Peter Guo <\/p>\n
Reporting from Hong Kong
\nmgmarket9.at
\nIrregular trade including smuggling will most likely rise amid the U.S.’ and China’s tit-for-tat tariffs, an economist warns. <\/p>\n
The cost of tariffs has become \u201cprohibitive to almost every company,\u201d Tianchen Xu, senior economist at Economist Intelligence Unit. <\/p>\n
\u201cAs a result, trade flows in both directions will tumble, and irregular trade will proliferate, including smuggling, transshipment and systemic under-reporting of trade value during customs clearance,\u201d Xu said in a note. <\/p>\n
Xu said trade negotiations and a partial de-escalation in the ongoing trade war may ensue in the coming months, but those tensions are likely to worsen in the short term between the world\u2019s two largest economies. <\/p>\n
1h ago \/ 12:09 PM GMT+3
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\nCalifornia plant business owner says costs will double with tariffs <\/p>\n
Gadi Schwartz and Phil Helsel
\nThe owner of a California home decor and plant shop said that even in dealing locally, the sourcing of goods from China is impossible to avoid.
\nmgmarket <\/p>\n
https:\/\/http-mgmarket5.ru<\/p>\n","protected":false},"excerpt":{"rendered":"
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