'Trauma is written on the faces of the evacuees'

By Jayne Secker, in Los Angeles

On a normal Saturday the Westwood recreation centre in Los Angeles is packed with people sweating through spin classes and circuits.

Today however its gym is crammed with neat rows of camp beds, each with a pillow, blanket and small pile of belongings at one end.

The American Red Cross – seen in so many international disaster zones – is now helping its own.

Spokesman Nicole Maul explained how the trailers lined up outside are full of the basics – toothpaste, soap, sanitary products – for those who now have nothing.

In the reception area new arrivals are greeted with warm smiles and tables of donated food. So much is being brought to the shelter from those who live nearby and want to help.

A large TV screen carries a local rolling news channel with wall to wall coverage of the blaze. For many though it is just too much.

Outside I spoke to one man sitting quietly on a bench. He has lost his home in the Pallisades blaze. He said the images were just too upsetting.

He has tried twice to get back to his street. Twice the authorities have turned him back, telling him it is still not safe.

He has nowhere else to go.

In the car park a local acupuncture clinic has sent up a tent offering free treatments to help relieve stress. Suddenly one of the practictioners leaps up and leaves. She'd received a call. The wind had changed and her house was now at threat.

A stark reminder of how unpredictable these fires are.

By the afternoon on the astro pitch outside, young girls practise their football drills, while a man honed his golf swing.

Normal life for some, cheek by jowl with those entirely uprooted from theirs.

There is so much goodwill here, but the trauma the evacuees are continuing to go through is written on their faces.

They have no idea how long they will have to stay here.

This place is a refuge, but it is certainly not home.

Wildfires continue to burn in Los Angeles, with at least 16 people killed in the blazes and 153,000 people under evacuation orders. The public health authority has urged people to stay indoors due to the high levels of smoke and ash in the air.

LA fires latest: Fire deaths rise as weather conditions to worsen; prisoners 'deployed to fight blazes'

Numerous programs initiated regarding women empowerment: Azma Bukhari

Punjab Information Minister Azma Bukhari says government has initiated numerous programs focused on women empowerment

In an exclusive interview with Radio Pakistan correspondent Zunera Khalid with reference to International Women's Day, she stressed women should be acknowledged every day, not merely on a singular occasion.

The Minister recognized the important contributions of women, whether they are homemakers, professionals or public servants, asserting that they are contributing toward society to make it more prosperous.

Azma Bukhari mentioned that Maryam Nawaz, as Punjab's first female Chief Minister, is devoted to empowering women and addressing their issues while prioritizing women's empowerment and overcoming their challenges.

She commended women for their greater diligence and commitment in every sector. The Minister also outlined various initiatives launched by the Punjab government, including the Pink Button initiative to combat harassment issues and the establishment of virtual police stations, which provide services to women, who may be reluctant to visit traditional police facilities.

She pointed out that women in Punjab are actively participating in various roles without facing discrimination, highlighting that many Assistant Commissioners and Deputy Commissioners working in the province are women, a significant achievement in the province history.

Azma Bukhari encouraged all women to recognize their strengths and to contribute positively to their families, communities and the nation, whether they are at home or in the workforce.

Numerous programs initiated regarding women empowerment: Azma Bukhari

ALBAWABA - Renowned Hollywood actor Val Kilmer, best known for roles such as Iceman in "Top Gun," Batman in "Batman Forever", and many more, has passed away at 65.

According to an email sent by Kilmer's daughter to AP, the actor passed away on Tuesday in his LA house, surrounded by his friends and family, after battling a case of pneumonia. Val Kilmer was diagnosed with throat cancer, and despite defeating it back in 2014, his diagnosis still required him to undergo a tracheotomy procedure.

The tracheotomy procedure altered his voice as witnessed during his recent performances, including his comeback as Iceman in 2022's "Top Gun: Maverick."

Top Gun star Val Kilmer dies at 65

Val Kilmer, ‘Top Gun’ and ‘Batman Forever’ actor, has died at 65. His daughter, Mercedes Kilmer, told ‘The New York Times’ that her father died of pneumonia on Tuesday.



He is survived by his children, Jack and Mercedes. pic.twitter.com/TiMQuL91CZ April 2, 2025

Starring as American singer Jim Morrison in Oliver Stone's 1991 biography "The Doors," became one of Val Kilmer's most popular roles in Hollywood and was highly regarded by audiences and critics alike for his performance.

While the actor didn't receive many awards during his career, a critic named Roger Ebert recognized Kilmer's talent and wrote, "If there is an award for the most unsung leading man of his generation, Val Kilmer should get it."

He added, "In movies as different as Real Genius, Top Gun, Top Secret!, he has shown a range of characters so convincing that it's likely most people, even now, don't realise they were looking at the same actor."

Renowned Hollywood actor Val Kilmer, best known for roles such as Iceman in Top Gun, Batman in "Batman Forever", and many more, has passed away at 65.

Top Gun star Val Kilmer dies at 65

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Liverpool has finally confirmed that Mohamed Salah will continue with the English club until 2027. The Egyptian player, 32, would finish his contract in June, and it has been expected that he would not get a renewal, which frustrated fans because he was having one of his best seasons ever, and seemingly the player himself, who used to say that this was going to be his final year at Liverpool.

But that has changed this week, and the announcement has been made on Friday morning: Mo Salah has agreed on two more years. "I signed because I think we have a chance to win other trophies and enjoy my football", said Salah, who arrived at Liverpool as a transfer from Roma in the summer of 2017, and has since won one Premier League, Champions League, FA Cup, FIFA Club World Cup, UEFA Super Cup, FA Cup, and two League Cups. He is also the third top scorer of all-time for the Reds.

Today is all about Salah, who has scored 32 goals in 45 appearances, but it is expected that Virgil van Dijk will also sign a similar new two year contract. Trent Alexander-Arnold will not follow, and plans to join Real Madrid continue unchanged.

The third top scorer of all-time at Liverpool will remain for two more years.

Liverpool announces new two-year contract for Mohamed Salah

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'Heartbreaking'





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Six people including three children were killed after a sightseeing helicopter crashed into the Hudson River in New York on Thursday, sparking a major water rescue operation, authorities said.The crash killed all those onboard the aircraft: the pilot and a family from Spain. Two of the victims were initially taken to a hospital, but later succumbed to their injuries."At this time, all six victims have been removed from the water. And sadly, all six victims have been pronounced deceased," Mayor Eric Adams told a briefing, after earlier calling it a "heartbreaking and tragic crash."The chopper's landing skids were seen protruding from the river beside a tunnel vent as several boats clustered around the impact site.Police from both New York and New Jersey, which is on the opposite side of the river from Manhattan, responded to the scene along with fire department vessels.The NBC4 channel reported that its own helicopter was unable to take off because of weather conditions, with the weather in New York on Thursday gusty under thick cloud cover.A witness told AFP it appeared like the helicopter's rotor blade "shattered in the sky.""And after it shattered, then we saw the helicopter just spiral... And then it just crashed into the water just like that," said fashion designer Belle Angel.The Federal Aviation Administration said in a statement it was Bell 206 helicopter."The FAA and the National Transportation Safety Board will investigate," it added.President Donald Trump took to social media to call the crash "terrible.""The footage of the accident is horrendous. God bless the families and friends of the victims," he wrote on Truth Social.The river is a busy shipping channel and the scene of a dramatic 2009 incident when a US Airways jet safely landed in the water. All 155 people on board escaped with their lives in an event dubbed "Miracle on the Hudson."The river is as deep as 200 feet (60 meters) at points, and an AFP correspondent saw what appeared to be floatation devices deployed on the helicopter's skids.The average temperature of the river is 46 degrees Fahrenheit (8 degrees Celsius) at this time of year, according to the US Geological Survey."Three adults and three children were on board a Bell 206 helicopter that had left from the downtown Skyport at just about 3 pm," Adams said, adding that the tourists were a family from Spain.Police and fire service (FDNY) divers raced to pull survivors from the wreckage, he said."NYPD divers pulled four people from the crash site, and FDNY Divers recovered an additional two. Immediate lifesaving measures were undertaken on the vessels at the scene, as well as the adjoining pier," police commissioner Jessica Tisch said."Four victims were pronounced dead on scene, and two more were removed to local area hospitals, where, sadly, both succumbed to their injuries."The chopper took off around 3 pm, flying south before heading up the Manhattan shoreline to the George Washington Bridge, turning back towards the downtown Manhattan heliport, losing control and hitting the water near a Hoboken pier, Tisch said.The police commissioner said the aircraft was operated by New York Helicopter, which did not respond to a request for comment but lists the Bell 206 among its fleet.There have been around 30 helicopter crashes in New York since 1980, Brooklyn Borough President Mark Levine told reporters, calling for tighter restrictions on helicopter traffic in the city.

A sightseeing helicopter crashed into New York's Hudson River on Thursday, killing all six people on board, including three children and the pilot. The victims were a family from Spain. Witnesses reported seeing the helicopter's rotor blade shatter before the aircraft spiraled into the water. Authorities, including NYPD and FDNY divers, responded to the tragic scene.

Six, including three children, killed in 'tragic' Hudson River helicopter crash

A tourist helicopter plummeted upside down into New York City's Hudson River on Thursday killing all six people on board, including a Spanish family with three children and the pilot, Mayor Eric Adams said.

Agustin Escobar, an executive at Germany-based technology company Siemens, was among those killed according to the New York Times, which cited unnamed law enforcement sources.

New York City police referred requests for confirmation that Escobar was aboard the helicopter to the US Coast Guard. The Coast Guard said in a statement that it did not yet have the names of the victims. Siemens did not immediately respond to a request for comment outside normal business hours.

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Video of the crash showed what appeared to be a large object plunging into the river, followed seconds later by what appeared to be a helicopter blade. Afterwards, emergency and police boats were seen circling around a patch of river where the helicopter was submerged, with only what appeared to be the aircraft's landing gear poking above the water's surface.

The Bell 206 chopper, operated by New York Helicopter Tours, departed at about 3 p.m. ET (1900 GMT) from a downtown helicopter pad and flew north over the Hudson River, New York Police Commissioner Jessica Tisch said.

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It turned south when it reached the George Washington Bridge and crashed minutes later, hitting the water upside down and getting submerged near Lower Manhattan at around 3:15 p.m., just off Hoboken, New Jersey, Tisch added.

Divers helped remove the victims from the water. Four were pronounced dead at the scene, while two others were taken to area hospitals where they died.

The airspace around Manhattan is crowded with helicopters offering tourists a bird's-eye view of the sights, with at least two dozen operators listed on tour website Viator. Many of the operators also offer helicopter shuttle services to the area airports.

New York Helicopter Tours, which offers sightseeing flights for as little as $114 per person on its website, did not respond immediately to a request for comment about the crash.

Transportation Secretary Sean Duffy said the tour helicopter was in Special Flight Rules Area established in New York that means no air traffic control services were being provided when it crashed.

The Federal Aviation Administration and the National Transportation Safety Board will investigate, with the NTSB leading the investigation.

Duffy said the FAA was also launching a Safety Review Team on Thursday evening. NTSB Chair Jennifer Homendy and a team from the board will arrive in New York later on Thursday and plan to hold a press briefing on Friday.

New York City has a history of accidents involving helicopters. In 2018, five passengers aboard a helicopter died when it crashed into the East River, while the pilot survived.

The helicopter was on a charter flight that featured an open door to allow passengers to take photographs of the skyline.

A New York City Police spokesperson said that police boats had assisted in Thursday's rescue efforts.

Helicopter safety has been a topic of discussion in the US Congress after 67 people were killed in a crash between an American Airlines regional jet and Army helicopter on Jan. 29 near Reagan National Airport in Washington, D.C. The FAA has since permanently restricted helicopter traffic near that airport and is reviewing helicopter operations near other major airports.

Siemens executive, his family among those killed: New York Times.

3 children among 6 dead as helicopter crashes into New York's Hudson River

Luo Jie/China Daily

Faced with an onslaught of tariffs from the US, nations are deliberating on their responses. The situation is complex because Trump's accusation of unfair treatment of the US by trading partners evidenced by other nations' trade surpluses is false.

Economists have asserted that trade imbalances often result from structural differences between countries and not from trade barriers. Consider two large economies of similar GDP with free trade - there should be no trade imbalances. Completely wrong. Say, in one, households have a high propensity to consume out of income and low savings - this is a fair description of the US where many homeowners use equity from rising property prices to refinance, making their home into an ATM. According to the US Federal Reserve, the personal savings rate was under 4 percent of income in 2024.

Assume on the other, citizens choose to save much more out of caution and are less happy to take on debt - they would consume much less of all goods including imports and run a trade surplus with the consumption-hungry country. No malicious treatment is involved. China is a good example of such a country with official household savings rates estimated at around 45 percent - hence highly likely to be a net exporter.

Trump has used the medical analogy of a sick patient enduring nasty medicine in order to be healthy in the future. The problem is that if the doctor has made an incorrect diagnosis, the wrong medicine will be given and the patient won't do well. This is the difficulty of responding to "reciprocal" tariffs which bear no relationship to real situations.

Trump has vigorously attacked the EU as "set up to harm the US", but in fact that large grouping of European nations may well have reduced the desire of individual members to seek export growth to America because there is a barrier-free large market locally that they can export to. It is true that the EU is a Customs Union that has a Common External Tariff but how often do we hear the true data on this, listening to Trump one would imagine it runs at 20 percent - official recent European Commission data shows that the true figure on average was just 1 percent tariff rates by both sides. Trump has made a huge distortion and fair-trading nations need to join together to support the true value of free trade.

Regional trading groups will need to enhance cooperation both within members and between them in order to reduce the importance of US exports to their economies - this will take time and will be constrained if a global recession results in the short term. Hence nations need to decide now how to de-rail Trump's tariff train.

China and the EU can lead the way and Chinese Premier Li Qiang earlier this week reached out to the European Commission President, Ursula von der Leyden, to urge both sides to maintain free and open trade. There is clearly an opportunity for more collaboration between these large trading entities.

There seem to be two main options, one of which Trump will likely present as a victory - the many smaller nations he claims are calling him to do a deal. It may make sense for a nation like Malaysia or Vietnam to offer to eliminate their limited tariffs that probably won't lead to large increases in US imports, reflecting the size of their economies, but equally, this won't reduce the balance of trade issue. Governments cannot make their citizens buy more from America, especially when its own citizens may now have a negative view of that country.

Governments can of course redirect their own spending, so possibly a country might re-equip its national airline with new Boeing jet orders - although these would be unfair to Airbus without competitive tendering. It would be a risky step as it is likely to alienate other, more reliable trading partners.

Trump's latest development is an offer to such nations that have not retaliated to pause and lower tariffs against them as a reward, but it remains to be seen what deals can be done.

For large economies and trading blocs, standing up to and the US with counter-measures sends a message that they will not be bullied by the US for baseless reasons. China has already done this and stated they will not hesitate to go further if needed. The US has not paused tariffs on China, nor on Canada and Mexico who have been retaliating.

On Wednesday the EU announced its members have agreed to impose retaliatory tariffs of Euro 21 billion on US imports with 25 percent tariffs on many selected goods. The European Commission stated that US tariffs are unjustified and damaging, causing economic harm to both sides as well as the global economy. This is entirely correct.

More needs to be done and it may be a forlorn hope, but we need to see other actors in the US, including opposition politicians, business leaders, respected academics and even some of Trump's own supporters, stand up and communicate to the American people that his policy is flawed, a false diagnosis and harmful to the US. It is too early to tell if Trump's sudden, temporary rollback of some tariffs is a sign of greater understanding.

Colin Speakman is an economist from the UK and an international educator specializing in China. The opinions expressed here are those of the writer and do not necessarily represent the views of China Daily and China Daily website.

If you have a specific expertise, or would like to share your thought about our stories, then send us your writings at opinion@chinadaily.com.cn, and comment@chinadaily.com.cn.

We need to see other actors in the US stand up and communicate to the American people that his policy is flawed, a false diagnosis and harmful to the US.

US should reflect on its flawed tariff policies

With the dust now settled on the euphoric market rebound following U.S. President Donald Trump’s trade war climb-down, investors are realizing that the global economy still faces the most punishing U.S. tariffs in nearly 100 years.

The picture is marginally brighter than it was before Trump blinked at 1:18 p.m. Eastern Time on Wednesday and announced a 90-day hiatus and a reduction to 10% for most of his ’reciprocal' tariffs. Washington is now pursuing negotiations with its trading partners and most retaliatory measures have been put on ice.

But the big picture remains pretty dim.

Analysis published by the non-partisan Budget Lab at Yale on Thursday suggests U.S. consumers will face an overall average effective tariff rate of 25.3%, only “slightly different” from before Trump’s pullback, and the highest since 1909. Even accounting for likely consumption shifts away from Chinese goods the average tariff rate will be 18.1%, the highest since 1934.

“It’s clear the U.S. economy hasn’t seen a shock like this since the 1920s and 1930s,” PIMCO economist Tiffany Wilding wrote on Thursday.

She estimates that every percentage point increase in the average effective tariff rate shaves about 0.1 ppt off U.S. growth and adds a similar amount to inflation. She says U.S. recession is now likely, as is core inflation surging to 4.5%. That’s a dismal picture.

Tightening grip

By some measures, the trade war’s vice-like grip on the global economy has tightened, particularly because of the pain being inflicted on China.

Essentially, any semblance of a truce in Trump’s broad trade war is being offset by the ratcheting up of tensions with China. Levies on Chinese goods are now an eye-popping 145%, the White House on Thursday.

As Pictet Wealth Management’s Frederik Ducrozet notes, the global trade war narrowed on Wednesday, but it also deepened. A “full decoupling” between the U.S. and China, the world’s two largest economies, is playing out in front of our eyes.

Little wonder that China’s stock market significantly lagged its regional and global peers on Thursday, although eking out a 1.3% rise was an achievement given the increasingly alarming U.S.-China standoff.

TD Securities strategist James Rossiter calculates that the import-weighted average U.S. tariff has actually risen to 26.2% from 23.9% on April 2, Trump’s ’Liberation Day'. Of course, if U.S.-China trade collapses, as could happen if neither Washington or Beijing backs down, the average effective rate will be closer to the global 10%.

But freezing the two-way flow of nearly $600 billion in annual trade isn’t exactly bullish, as investors realize – in U.S. trading hours on Thursday stocks plunged again, and ’safe-havens’ like the Swiss franc, gold and short-dated Treasuries surged.

Cue the Yuan deval?

So what are China’s options? Policy-makers in Beijing were already facing an unenviable domestic situation – a real estate crash, deflation and moribund demand and investment – and Trump’s belligerence can only make that more difficult.

If the economic battle lines between the world’s two economic superpowers are being marked by tariffs, the market battle lines are being drawn by the dollar/yuan exchange rate. In bright Technicolor, too.

It’s hard to envisage how China withstands or fights back against such punitive tariffs without a significant depreciation of its tightly controlled yuan, or perhaps a much bigger devaluation.

The currency market is leaning heavily that way: onshore spot dollar/yuan is a whisker from levels last seen in December 2007; Thursday’s central bank dollar/yuan fixing of 7.2092 yuan was the highest since September 2023; the offshore ’CNH' dollar/yuan rate touched a record peak of 7.4287 on Tuesday.

Economists at Goldman Sachs on Thursday slashed their Chinese GDP growth forecasts to 4.0% this year and 3.5% next year from 4.5% and 4.0%, respectively. They also said that they expect “significant” monetary and fiscal policy easing from Beijing.

No matter who blinks first in the coming months – Trump or President Xi Jinping – the rest of the global economy probably won’t like what it sees.

Washington is now pursuing negotiations with its trading partners and most retaliatory measures have been put on ice. But the big picture remains pretty dim

U.S. still facing 1930s tariff shock, vice tightens around China, analysts say

Open this photo in gallery: U.S. President Donald Trump gestures as he speaks during a Make America Great Again rally in October, 2020, in Goodyear, Ariz.BRENDAN SMIALOWSKI/AFP/Getty Images

This week marked the realization among Donald Trump’s business supporters that the fantasy version of Mr. Trump they had been carrying around in their minds bore no relationship to reality.

The fantasy Mr. Trump was only kidding when he said, as he did throughout the 2024 election campaign, that he would impose double-digit tariffs on the whole world, and even heavier tariffs on China. It was all part of his shtick, a carnival show for the rubes. Savvy investors knew that Mr. Trump would never do anything so manifestly idiotic, that economic rationality would prevail in the end. Then tax cuts and deregulation sing them sweetly to bed.

How supposedly sophisticated business leaders persuaded themselves of this is a mystery, except as it implies business leaders are not very sophisticated at all, or at least that their eyes are easily misted over with greed. Since when did rationality ever prevail with Mr. Trump? The first Trump presidency many now recall with a kind of nostalgia was in fact a nonstop whirligig of insanity, a never-ending dance with disaster.

True, the worst did not happen – unless you count the needless deaths of hundreds of thousands of people owing to COVID – largely thanks to the interventions of the President’s advisers at the time. But those advisers are no longer with us. Rather, Mr. Trump is now surrounded by people who amplify his insanity and exploit his vast stupidity. Mr. Trump wants to destroy America purely as an expression of his hideous id, to be revenged on his enemies, to make himself feel large. His advisers want to do so in order to create a revolutionary right-wing utopia from the ashes.

Hence the events of the past week. Leave aside the crude fallacies that underlay it – that the United States, the wealthiest country on Earth, was in fact the impoverished victim of decades of predatory trade practised by other countries (U.S. tariffs are in fact rather higher than average), that its manufacturing sector had been decimated (no it hasn’t), that the result was massive trade deficits that were sapping the country of its precious bodily fluids (trade deficits are neither good nor bad in themselves).

American hypocrisy: Trump attacks countries for ‘cheating’ on trade – but the U.S. does it too

Leave aside all that. Just think of the monstrous hubris, the childlike naïveté, the millenarian fantasy of thinking you could reorder the entire world trading system at a stroke, simply by imposing confiscatory taxes on every other country’s exports, without doing irreparable harm to the global economy. Think, further, of the blind fanaticism that could look upon the resulting mayhem – at one point stocks, bonds and the U.S. dollar were all plummeting at the same time – and think, not “my God, my God, what have I done?” but “well, you have to break a few eggs to make an omelette.”

At the last moment the President was deterred by the prospect of a global financial meltdown of 2008 proportions, abruptly cancelling the order he had issued just hours before. Tariffs were merely hiked to levels not seen in decades – or ever, in the case of China. But no one should think this marks an end to it. The tariffs that remain will do immense harm on their own; the ones that were lifted were only postponed for 90 days. More to the point, the deep thinkers responsible for this farce are still in place, presumably plotting their next calamity.

They will have learned nothing from this, that much is certain: if they were capable of learning from their mistakes they would not make so many of them. And their public declarations on the intent of the tariffs are such a mess of contradictions as to offer no reassurance whatever to investors. Should we locate a plant in the United States, at significant increased cost, to avoid the tariffs? But presidential adviser A insists these are mere bargaining chips, to be negotiated away in exchange for other countries’ concessions. Should we, then, locate in another country, in anticipation of the promised bilateral free trade agreements? But adviser B declares that tariffs are the heart of the President’s economic plan and will be reimposed after a breathing spell.

To say the result is uncertainty does not begin to describe the situation. It is blind terror. No one, after this, can have any illusions that there is some sort of method to the President’s madness. Just as no one has any faith in Mr. Trump’s word, neither should anyone trust that he has the faintest understanding of what he is doing. There is a lunatic at large in the White House, and there is nothing anyone can do to stop him. (Well, the Republicans could, but they won’t.) We are in for several years, at least, of global economic paralysis. And it is only going to get worse.

Mr. Trump, as I’ve written before, is on an exponential behavioural spiral, obliged to constantly outdo himself to provoke the outrage on which he, and his followers, thrive – prisoner, in his own way, of the same dumbing-down of expectations that bedevils all attempts to hold him to account. The assault on civil liberties and the rule of law, accordingly, will get worse. The erosion of the separation of powers, the elimination of all legislative or judicial checks on the power of the White House, will get worse. The attempts to undermine free and fair elections will get worse. The attacks on NATO, and Ukraine, and other democracies will get worse.

And so will the campaign against the economy. Mr. Trump’s next target will likely be the Federal Reserve, which he will blame for the state of the economy and attempt to control by various means. So at a time of rising prices (thanks to the tariffs) and exploding public debt, Mr. Trump will pile on inflationary monetary policy. And after that? Probably the statistical agencies, to make it impossible for anyone to know the true state of the economy.

What does all this mean for Canada? It means that the situation we are in is much, much worse than we had feared. Even if we were not the target of our own unique set of tariffs – on our cars, on our steel and aluminum, on whatever the hell the punitive “fentanyl” tariffs are supposed to apply to – there is the simple fact of our exposure to an American, and to a lesser extent global, economy that the President of the United States is doing everything in his power to collapse.

Until now the focus of our political leaders, as in this surprisingly listless election campaign, has been on the ways we might escape the tariffs. Thus we are told we can divert our trade, or significant sections of it, away from the United States, to which 75 per cent of our current exports are directed, to other countries. We are dazzled by tales of the pipelines we will build, east and west, to other markets. And we are regularly assured that interprovincial trade barriers are a thing of the past.

But the reality is that none of these things is about to materialize any time soon; they may never. They were comforting things to say – to soothe wounded Canadian pride, to get through an election campaign. But there is very little reason to believe that the obstacles that prevented progress on them before have suddenly melted away. And if they did, we would still have a growth crisis on our hands: flatlining productivity and declining per capita GDP, even as an aging population and mounting international instability imply huge increases in public spending.

Sorry, did I say growth “crisis”? After this week, we should perhaps say growth emergency. The only way we are going to protect our economy from Mr. Trump is not by diverting it this way and that, but by strengthening it: by so increasing our underlying rate of growth that we can maintain our momentum even against the force of Trumpian gravity. But to do that – to achieve “escape velocity,” if you will – will require much more radical solutions than any of the parties have been willing to contemplate so far.

It has, in fact, been a campaign notably lacking in serious pro-growth proposals. The only one of note has been the Conservative plan to defer capital-gains tax on the sale of any asset where the proceeds are reinvested in Canada. This has been massively oversold – the tax is deferred, not eliminated – but in principle it should help so far as it removes the tax impediment that might now deter investors from moving out of one asset and into another. That is, it is about improving the allocation of existing investment, rather than stimulating more of it.

That, however, is not going to generate anything like the kind of investment, or the kind of growth, we are going to need. We are currently growing at roughly 1.5 per cent annually, after inflation. To reach escape velocity we will need to at least double that rate of growth, and keep it there, year after year after year. Incrementalism will not get us there. We will have to “shock” investors, in the positive direction, in the same way that Mr. Trump’s antics have shocked them in the negative – not only as a matter of improving incentives here or there, but as a signal of our larger intentions: that we mean to be the most hospitable location for investors in the developed world, the most hotly competitive, the most sublimely efficient.

That will involve a wide range of tools: radical tax reform, dismantling the decrepit monopolies and oligopolies that now stifle competition across much of the economy, an open door to foreign investment, and yes, lots and lots of immigration. We can explore some of these in more detail at another time. For now the point is only to emphasize the size of the undertaking, and how far we are from a serious discussion of it.

We are in for several years, at least, of global economic paralysis. And it is only going to get worse

Opinion: Trump’s chaotic rule means we need a growth strategy more than ever. Somebody tell our political leaders

The European Union will pause its first countermeasures against US tariffs after President Donald Trump temporarily lowered the hefty duties he had just imposed on dozens of countries, European Commission chief Ursula von der Leyen said on Thursday.

The bloc was due to launch counter-tariffs on about 21 billion euros ($23.25 billion) of US imports from next Tuesday in response to Trump's 25% tariffs on steel and aluminium. It is still assessing how to respond to US car tariffs and the broader 10% levies still in place.

"We want to give negotiations a chance," von der Leyen said on X. "While finalising the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days."

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Trump's sudden decision on Wednesday to pause most of his hefty new duties brought relief to battered global markets and anxious global leaders, even as he ratcheted up a trade war with China.

His turnabout, which came less than 24 hours after steep new tariffs kicked in, followed the most intense episode of financial market volatility since the early days of the Covid-19 pandemic.

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US stock indexes shot higher on the news, and the relief continued into Asian and European trading on Thursday.

Before Trump's U-turn, the upheaval had erased trillions of dollars from stock markets and led to an unsettling surge in US government bond yields that appeared to catch the US president's attention.

Trump kept the pressure on China, the world's No. 2 economy and second-biggest provider of US imports with an increase of tariffs on Chinese imports to 125% from the 104% level that kicked in on Wednesday.

He also signed an executive order aimed at reducing China's grip on the global shipping industry and at reviving US shipbuilding.

EU pauses countermeasures following Trump's tariff reprieve

Barcelona thumped visiting Borussia Dortmund 4-0 in their Champions League quarterfinal first leg on Wednesday after Robert Lewandowski scored twice against his former club to earn the Catalans a sizeable lead ahead of next week's return visit to Germany.

Undefeated since late December, treble-chasing Barca predictably dominated the opening stages and grabbed the lead with Raphinha's strike in the 25th minute. A string of saves from Dortmund goalkeeper Gregor Kobel frustrated Barca for the remainder of the first half.

Barcelona emerged more determined after the break, and it took only three minutes to score the second goal, with Raphinha assisting Lewandowski, who nodded home from close range.

Barcelona is enjoying a superb 23-game unbeaten run across all competitions.

Robert Lewandowski leads rout as Barcelona beats Dortmund in first leg

When Raphinha reported for pre-season training with Barcelona last summer, he would have not imagined he would be at the club nine months later, never mind enjoy a dream season.

The Brazilian forward came into the campaign after two underwhelming campaigns following a £55m move from Leeds in 2022.

Since then the 28-year-old has led Barcelona on a Treble pursuit, with the Blaugrana four points clear at the top of La Liga and through to the final of the Copa del Rey.

On Wednesday they placed one foot firmly in the Champions League semi-finals with a 4-0 demolition of Borussia Dortmund in the first-leg of their last-eight tie.

"That's 23 games unbeaten now for Barcelona. They still keep the ball, they dominate possession, and they're ruthless when you give them space," Karen Carney said on TNT Sports.

"Because of the frontline, they just keep outscoring you. You'd be terrified to face them."

Raphinha is enjoying the best season of his career by far, with 28 goals and 20 assists in all competitions.

With his efforts against Dortmund, he also equalled Lionel Messi's club record for goal involvements in a single Champions League campaign.

Raphinha's 25th-minute opener and subsequent assists for Robert Lewandowski and Lamine Yamal took him to 19 goal involvements in 11 games this campaign, the same number Messi achieved in 11 outings in 2011-12.

"It is phenomenal. It is breathtaking when you put him in the same bracket as Messi with four games potentially remaining," Stephen Warnock told BBC Match of the Day.

Three more and Raphinha will break the all-time Champions League record, set in 2013-14 when Cristiano Ronaldo contributed to 21 goals in 11 games while at Real Madrid.

Having also created 34 chances in the competition this term, the second most, Raphinha's exploits alongside Lewandowski and Yamal have made him a contender for the 2025 Ballon d'Or.

"I love playing with players of a very high level," he said after the Dortmund encounter. "We are managing to make spectacular numbers and I hope we continue like this."

Raphinha is on course to make Champions League history after enjoying a remarkable turnaround at Barcelona.

'Phenomenal' and 'breathtaking' - Raphinha on track for Champions League history

WASHINGTON — In a stunning reversal, US President Donald Trump said on Wednesday (April 9) he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending US stocks rocketing higher.

Trump's turnabout, which came less than 24 hours after steep new tariffs kicked in on most trading partners, followed the most intense episode of financial market volatility since the early days of the Covid-19 pandemic. The upheaval erased trillions of dollars from stock markets and led to an unsettling surge in US government bond yields that appeared to catch Trump's attention.

"I thought that people were jumping a little bit out of line, they were getting yippy, you know," Trump told reporters after the announcement, referring to a golf term.

Since returning to the White House in January, Trump has repeatedly threatened an array of punitive measures on trading partners, only to revoke some of them at the last minute. The on-again, off-again approach has baffled world leaders and spooked business executives, who say the uncertainty has made it difficult to forecast market conditions.

The day's events cast into stark relief the uncertainty surrounding Trump's policies and how he and his team create and implement them.

US Treasury Secretary Scott Bessent asserted that the pullback had been the plan all along to bring countries to the bargaining table. Trump, though, later indicated that the near-panic in markets that had unfolded since his April 2 announcements had factored in to his thinking. Despite insisting for days that his policies would never change, he told reporters on Wednesday: "You have to be flexible."

But he kept the pressure on China, the No. 2 provider of US imports. Trump said he would raise the tariff on Chinese imports to 125 per cent from the 104 per cent level that took effect at midnight, further escalating a high-stakes confrontation between the world's two largest economies. The two countries have traded tit-for-tat tariff hikes repeatedly over the past week.

Trump's reversal on the country-specific tariffs is not absolute. A 10 per cent blanket duty on almost all US imports will remain in effect, the White House said. The announcement also does not appear to affect duties on autos, steel and aluminium that are already in place.

The 90-day freeze also does not apply to duties paid by Canada and Mexico, because their goods are still subject to 25 per cent fentanyl-related tariffs if they do not comply with the US-Mexico-Canada (USMCA) trade agreement's rules of origin. Those duties remain in place for the moment, with an indefinite exemption for USMCA-compliant goods.

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"China is unlikely to change its strategy: stand firm, absorb pressure, and let Trump overplay his hand. Beijing believes Trump sees concessions as a weakness, so giving ground only invites more pressure," said Daniel Russel, vice president of international security and diplomacy at the Asia Society Policy Institute.

"Other countries will welcome the 90-day stay of execution - if it lasts - but the whiplash from constant zigzags creates more of the uncertainty that businesses and governments hate," Russel said.

US stock indexes shot higher on the news, with the benchmark S&P 500 index closing 9.5 per cent higher. Bond yields came off earlier highs and the dollar rebounded against safe-haven currencies.

Trump's tariffs had sparked a days-long selloff that erased trillions of dollars from global stocks and pressured US Treasury bonds and the dollar, which form the backbone of the global financial system. Canada and Japan said they would step in to provide stability if needed - a task usually performed by the United States during times of economic crisis.

Analysts said the sudden spike in share prices might not undo all of the damage. Surveys have found slowing business investment and household spending due to worries about the impact of the tariffs, and a Reuters/Ipsos survey found that three out of four Americans expect prices to increase in the months ahead.

Goldman Sachs cut its probability of a recession back to 45 per cent after Trump's move, down from 65 per cent, saying the tariffs left in place were still likely to result in a 15 per cent increase in the overall tariff rate.

Treasury Secretary Bessent shrugged off questions about market turmoil and said the abrupt reversal rewarded countries that had heeded Trump's advice to refrain from retaliation. He suggested Trump had used the tariffs to create maximum negotiating leverage. "This was his strategy all along," Bessent told reporters. "And you might even say that he goaded China into a bad position."

Bessent is the point person in the country-by-country negotiations that could address foreign aid and military co-operation as well as economic matters. Trump has spoken with leaders of Japan and South Korea, and a delegation from Vietnam was due to meet with US officials on Wednesday.

Bessent declined to say how long negotiations with the more than 75 countries that have reached out might take.

Trump said a resolution with China was possible as well. But officials have said they will prioritise talks with other countries.

"China wants to make a deal," Trump said. "They just don't know how quite to go about it."

Trump told reporters that he had been considering a pause for several days. On Monday, the White House denounced a report that the administration was considering such a move, calling it "fake news."

Earlier on Wednesday, before the announcement, Trump tried to reassure investors, posting on his Truth Social account, "BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!"

Later, he added: "THIS IS A GREAT TIME TO BUY!!!"

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WASHINGTON — In a stunning reversal, US President Donald Trump said on Wednesday (April 9) he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending US stocks rocketing higher. Trump's turnabout, which came less than 24 hours after steep new tariffs kicked in on most trading partners,...

In stunning U-turn, Trump walks back some tariffs, triggering historic market rally

When US President Donald Trump signed the historic tariff orders that launched the global tariff war on April 2, the pen he used could well have been made in China.

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Even if we leave aside that particular pen, the paperwork that follows will mainly be processed with tools sourced from Chinese factories, which now face an accumulated American tariff of around 125 per cent.

The irony underscores a deeper truth about the US-China trade relationship: tariffs meant to punish Beijing often end up hitting American consumers hardest while failing to dislodge China’s dominance in everyday goods. The most affected American people are those who can least afford a more expensive alternative because many of these Chinese goods are small daily necessities.

US trade data reveals a startling reality: about 85 per cent of the pens and pencils in the United States are made in China. In 2022 alone, Americans bought US$430 million worth of pens from Chinese suppliers. Even leading brands such as Bic and Paper Mate rely on Chinese components.

The mountains of paperwork unleashed by the president’s wild economic gamble will become much more expensive after this week, and there is no real alternative in sight. China claims 80 per cent of the global market share of stationery.

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It is not just the writing instruments. When Trump’s deeply religious faithful go to church to pray for a trade war victory, the Bibles in their hands are most likely to have been printed… again in China!

Amity Printing Company in Nanjing, China is the world’s largest Bible producer. Since 1987, it has printed over 200 million copies of “the good book”, all for export. About half of these are estimated to be sold to the American market. According to US International Trade Commission data, atheist China accounts for 70 to 80 per cent of America’s religious book imports.

Tariffs will end up hitting the US ‘have-nots’ hardest while failing to dethrone China as top producer of everyday goods.

Opinion | Why China’s grip on American life will stay unshaken, Trump tariffs or not

US Secretary of Defense Pete Hegseth attends a press conference, in Panama City, Panama April 9, 2025. — Reuters

PANAMA CITY: The Pentagon chief has said that it is for Iran to interpret whether the recent deployment of the B-2 bombers to a US-British base in the Indian Ocean is intended as a message, amid ongoing efforts to address the country’s nuclear programme.

As many as six B-2 bombers were relocated in March to a US-British military base on the Indian Ocean island of Diego Garcia, US officials told Reuters, amid a US bombing campaign in Yemen and rising tensions with Iran.

There are only 20 B-2 bombers in the Air Force’s inventory, so they are typically used sparingly.

Experts say the B-2s, which possess stealth technology and can carry the heaviest US bombs and nuclear weapons, are ideally placed to operate in the Middle East.

When asked if the B-2 deployment was meant as a message to Iran, US Defence Secretary Pete Hegseth responded: “We’ll let them decide.”

“It’s a great asset ... it sends a message to everybody,” he told reporters during a visit to Panama.

“President Trump’s been clear ... Iran should not have a nuclear bomb,” he said. “We very much hope – the President is focused on doing that peacefully.”

On Monday, Trump made a surprise announcement that the United States and Iran were set to begin direct talks on Tehran’s nuclear programme on Saturday. He warned that Iran would be in “great danger” if the talks failed.

Iran, which had resisted Trump’s demands in recent weeks, said indirect talks would take place in Oman, highlighting the gulf between the two sides.

On Wednesday, Trump reiterated a threat to use military force if Iran refused to abandon its nuclear ambitions.

“I’m not asking for much ... but they can’t have a nuclear weapon,” Trump told reporters.

He declined to say when any military action might begin.

Although B-2 bombers have previously been used to strike Houthi targets in Yemen, many experts believe deploying the stealth aircraft there is overkill.

However, the B-2 can carry the 30,000-pound GBU-57 Massive Ordnance Penetrator – a weapon designed to destroy deeply buried targets. Experts believe this could be used to target Iran’s nuclear infrastructure.

Western powers accuse Iran of secretly trying to develop nuclear weapons by enriching uranium to levels beyond what is needed for civilian energy purposes.

Tehran insists its nuclear programme is purely for generating electricity and other peaceful purposes.

PANAMA CITY: The Pentagon chief has said that it is for Iran to interpret whether the recent deployment of the B-2 bombers to a US-British base in the Indian Ocean is intended as a message,...

'We’ll let Iran decide' on B-2 bomber message: Pentagon chief

Italian fashion house Prada announced Thursday that it had reached a deal with US group Capri Holdings to buy Versace for 1.25 billion euros.

The acquisition will create a luxury group with revenues of over six billion euros that could better compete with industry giants such as the French conglomerates LVMH and Kering amid a slowdown in the sector worldwide.

'We are delighted to welcome Versace to the Prada Group and to build a new chapter for a brand with which we share a strong commitment to creativity, craftmanship and heritage,' Prada group chairman and executive director Patrizio Bertelli said in a statement.

In 2018, Capri paid 1.83 billion euros to acquire Versace, which was previously owned 80 per cent by the Versace family and 20 per cent by the US investment fund BlackRock.

Amid declining sales, it put the Milan-based label up for sale, and began exclusive negotiations with Prada at the end of February.

Capri, which also owns Jimmy Choo and Michael Kors, had to accept a reduced price from Prada amid the market turmoil caused by US President Donald Trump's tariffs.

The Financial Times had reported that the price was initially expected to be about $1.6billion but had been negotiated downwards in recent days.

Last month, Donatella Versace stepped down as creative director after more than 30 years, in what was widely seen as a prelude to the accord.

Italian fashion house Prada announced Thursday that it had reached a deal with US group Capri Holdings to buy iconic fashion brand Versace

n this file photo taken on December 4, 2017 shows the logo of Italian fashion shop Versace in the Vittorio Emanuele II Gallery in Milan

It comes after Donatella Versace stepped down as creative director after more than 30 years last month

The fashion icon took over in 1997 following the murder of her older brother Gianni, who founded the Milan-based label in 1978.

But on April 1 she was replaced as creative director by Dario Vitale, who has overseen soaring sales at Miu Miu, Prada's sister brand targeting a younger clientele.

They announced her departure on their Instagram and revealed that the designer, who is the flamboyant face of the firm, will assume the role of chief brand ambassador.

Speaking of her exit, Donatella, who turns 70 in May, said: 'Championing the next generation of designers has always been important to me. It's been the greatest honour of my life to carry on my brother Gianni's legacy. He was the true genius but I hope to have some of his spirit and tenacity.'

Designer Miuccia Prada and Donatella are close, with the former Versace creative director said to be 'delighted' to have her brand back in family hands.

The acquisition of Versace comes after Trump on Wednesday abruptly backed off his tariffs on most nations for 90 days even as he further jacked up the tax rate on Chinese imports to 125 per cent.

It was seemingly an attempt to narrow what had been an unprecedented trade war between the U.S. and most of the world to a showdown between the U.S. and China.

The S&P 500 stock index jumped 9.5 per cent after the announcement, but the drama over Trump's tariffs is far from over as the administration prepares to engage in country-by-country negotiations.

Donatella over Versace in 1997 following the murder of her older brother Gianni (right) who founded the Milan-based label in 1978. Pictured: Fashion designer Gianni Versace, right, stands with musician Elton John, center, and Versace's sister Donatella Versace after they arrived at New York's Lincoln Center in this February 1993

In the meantime, countries subject to the pause will now be tariffed at 10 per cent.

The president hit pause in the face of intense pressure created by volatile financial markets that had been pushing Trump to reconsider his tariffs, even as some administration officials insisted the his reversal had always been the plan.

As stocks and bonds sold off, voters were watching their retirement savings dwindle and businesses warned of worse than expected sales and rising prices, all a possible gut punch to a country that sent Trump back to the White House last year on the promise of combatting inflation.

The global economy appeared to be in open rebellion against Trump's tariffs as they took effect early Wednesday, a signal that the U.S. president was not immune from market pressures.

By early afternoon, Trump posted on Truth Social that because more than 75 countries had reached out to the U.S. government for trade talks and had not retaliated in meaningful ways, 'I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10 per cent, also effective immediately.'

Trump later told reporters that he pulled back on many global tariffs — but not on China — because people were 'yippy' and 'afraid' due to the stock market declines. He added that while he expected to reach deals, 'nothing's over yet.'

The acquisition will create a luxury group with revenues of over six billion euros that could better compete with industry giants such as the French conglomerates LVMH and Kering.

Prada buys rival Versace from beleaguered US owner for 1.25 billion euros amid tariffs chaos in biggest luxury deal of the year

Executive Interview with Ahmad Khatib | CFI | iFX EXPO Dubai 2025 Executive Interview with Ahmad Khatib | CFI | iFX EXPO Dubai 2025 Executive Interview with Ahmad Khatib | CFI | iFX EXPO Dubai 2025 Executive Interview with Ahmad Khatib | CFI | iFX EXPO Dubai 2025 Executive Interview with Ahmad Khatib | CFI | iFX EXPO Dubai 2025 Executive Interview with Ahmad Khatib | CFI | iFX EXPO Dubai 2025

In this executive interview at the iFX EXPO Dubai 2025, Ahmad Khatib, Chief Business Development Officer at CFI, shares insights into the evolving trading industry, the rise of influencers, and the impact of misinformation. He introduces CFI's Trading Transparency Plus and its Trading Reality Check, a tool designed to guide both new and experienced traders. Ahmad discusses how this tool helps users navigate risks and avoid common pitfalls while emphasizing CFI's commitment to education and transparency in trading. Watch now to discover how CFI is shaping the future of trading! 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official/ 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: https://www.youtube.com/channel/UCaMiOoCIu0Lb_bEO_V2kI_g #CFI #iFXExpoDubai #FinancialTechnology #CrossBorderPayments #Stablecoins #CryptoPaymentGateways #LiquidityManagement #PaymentSolutions #FinancialInnovation #BusinessOptimization #TradingIndustry #PaymentIndustry #TechInnovation #Blockchain #2025Strategy Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more! In this executive interview at the iFX EXPO Dubai 2025, Ahmad Khatib, Chief Business Development Officer at CFI, shares insights into the evolving trading industry, the rise of influencers, and the impact of misinformation. 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Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official/ 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: https://www.youtube.com/channel/UCaMiOoCIu0Lb_bEO_V2kI_g #CFI #iFXExpoDubai #FinancialTechnology #CrossBorderPayments #Stablecoins #CryptoPaymentGateways #LiquidityManagement #PaymentSolutions #FinancialInnovation #BusinessOptimization #TradingIndustry #PaymentIndustry #TechInnovation #Blockchain #2025Strategy Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more! In this executive interview at the iFX EXPO Dubai 2025, Ahmad Khatib, Chief Business Development Officer at CFI, shares insights into the evolving trading industry, the rise of influencers, and the impact of misinformation. He introduces CFI's Trading Transparency Plus and its Trading Reality Check, a tool designed to guide both new and experienced traders. Ahmad discusses how this tool helps users navigate risks and avoid common pitfalls while emphasizing CFI's commitment to education and transparency in trading. Watch now to discover how CFI is shaping the future of trading! 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official/ 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: https://www.youtube.com/channel/UCaMiOoCIu0Lb_bEO_V2kI_g #CFI #iFXExpoDubai #FinancialTechnology #CrossBorderPayments #Stablecoins #CryptoPaymentGateways #LiquidityManagement #PaymentSolutions #FinancialInnovation #BusinessOptimization #TradingIndustry #PaymentIndustry #TechInnovation #Blockchain #2025Strategy Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more! In this executive interview at the iFX EXPO Dubai 2025, Ahmad Khatib, Chief Business Development Officer at CFI, shares insights into the evolving trading industry, the rise of influencers, and the impact of misinformation. 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Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official/ 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: https://www.youtube.com/channel/UCaMiOoCIu0Lb_bEO_V2kI_g #CFI #iFXExpoDubai #FinancialTechnology #CrossBorderPayments #Stablecoins #CryptoPaymentGateways #LiquidityManagement #PaymentSolutions #FinancialInnovation #BusinessOptimization #TradingIndustry #PaymentIndustry #TechInnovation #Blockchain #2025Strategy Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more! In this executive interview at the iFX EXPO Dubai 2025, Ahmad Khatib, Chief Business Development Officer at CFI, shares insights into the evolving trading industry, the rise of influencers, and the impact of misinformation. 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Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official/ 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: https://www.youtube.com/channel/UCaMiOoCIu0Lb_bEO_V2kI_g #CFI #iFXExpoDubai #FinancialTechnology #CrossBorderPayments #Stablecoins #CryptoPaymentGateways #LiquidityManagement #PaymentSolutions #FinancialInnovation #BusinessOptimization #TradingIndustry #PaymentIndustry #TechInnovation #Blockchain #2025Strategy Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more! In this executive interview at the iFX EXPO Dubai 2025, Ahmad Khatib, Chief Business Development Officer at CFI, shares insights into the evolving trading industry, the rise of influencers, and the impact of misinformation. 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Connect with us today: 🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/ 👍 Facebook: https://www.facebook.com/financemagnates/ 📸 Instagram: https://www.instagram.com/financemagnates_official/ 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemagnates ▶️ YouTube: https://www.youtube.com/channel/UCaMiOoCIu0Lb_bEO_V2kI_g #CFI #iFXExpoDubai #FinancialTechnology #CrossBorderPayments #Stablecoins #CryptoPaymentGateways #LiquidityManagement #PaymentSolutions #FinancialInnovation #BusinessOptimization #TradingIndustry #PaymentIndustry #TechInnovation #Blockchain #2025Strategy Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

In a dramatic shift that jolted Wall Street into a rally, President Donald Trump said he would temporarily suspend tariffs on many U.

Trump’s 90-Day Tariff Truce Sends Stocks and Crypto Soaring, but China Bears the Brunt

China on Wednesday again vowed to "fight to the end" in an escalating trade war with the US as it announced it would raise tariffs on American goods to 84% from Thursday.

Beijing also added an array of countermeasures after US President Donald Trump raised the total tariff on imports from China to 104%. Beijing said it was launching an additional suit against the US at the World Trade Organisation and placed further restrictions on American companies' trade with Chinese companies.

"If the US insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end,” the Ministry of Commerce wrote in a statement introducing its white paper on trade with the US.

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The government declined to say whether it would negotiate with the White House, as many other countries have started doing.

On Friday, China announced a 34% tariff on all goods imported from the US, export controls on rare earths minerals, and a slew of other measures in response to Trump's “Liberation Day” tariffs. Trump then added an additional 50% tariff on goods from China, saying negotiations with them were terminated.

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Wednesday's newest measures include adding 11 American companies to a so-called “unreliable entities” list that would bar Chinese companies from selling them dual-use goods. Among the companies are American Photonics, and SYNEXXUS, both of whom work with the American military.

So far, China has not appeared interested in bargaining. “If the US truly wants to resolve issues through dialogue and negotiation, it should adopt an attitude of equality, respect and mutual benefit,” said Ministry of Foreign Affairs spokesman Lin Jian on Wednesday.

Beijing also adds an array of countermeasures after US President Donald Trump raises the total tariff on imports from China to 104%.

China raises its retaliatory tariff on US to 84% as it vows to 'fight to the end'

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China will increase its tariffs on US products from 34% to 84% in response to the latest tariff increase ordered by Donald Trump.

China responds to Trump with an 84% tariff: the trade war reignites

Beijing (AFP) – China is trying to tariff-proof its economy by boosting consumption and investing in key industries, but analysts say it remains critically vulnerable to the economic storm triggered by Donald Trump's 104 percent levies on its goods.

China is trying to tariff-proof its economy by boosting consumption and investing in key industries

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Beijing has vowed to "fight to the end" against Trump's aggressive trade policy, with number two leader Li Qiang saying authorities were "fully confident" in the resilience of the Chinese economy.

But even before the tariffs hit, weakness in the post-Covid domestic market, rising unemployment and a long-running property crisis had all dampened consumption.

"The Chinese economy has been significantly weakened since Trump's first term and can't really withstand the impact of sustained high tariffs," said Henry Gao, an expert on the Chinese economy and international trade law.

Overseas shipments had represented a rare bright spot last year, with the United States the top single country buyer of Chinese goods.

People walk in the IFC mall at the financial district in Shanghai © Hector RETAMAL / AFP

US figures put Chinese exports to the United States at around $440 billion in 2024, almost three times the $145 billion worth of imports.

Machinery and electronics -- as well as textiles, footwear, furniture and toys -- make up a majority of the goods sent, and a supply glut could squeeze already crowded domestic consumer markets.

Although China's domestic market is stronger now than in Trump's previous term, there would inevitably be pain ahead, said Tang Yao from Peking University's Guanghua School of Management.

"Certain products are specifically designed for American or European markets, so efforts to redirect them to domestic consumers will have only a limited effect," he said.

'Strategic opportunity'

However, a weekend editorial in the Communist Party-backed People's Daily described the tariffs as a "strategic opportunity" for China to cement consumption as the main driver of economic growth.

China main export destinations in 2024 © / AFP

We must "turn pressure into motivation", it read.

Beijing has been seeking to "recast structural external pressure as a catalyst for long-intended reforms", said Lizzi Lee from the Asia Society Policy Institute's Center for China Analysis.

Authorities are "projecting confidence", she said.

China's quick and coordinated response to tariffs reflect lessons learned from Trump's first term, she added.

For example, in addition to readying reciprocal tariffs on US goods set to come into effect Thursday, Beijing's commerce ministry the same day announced export controls on seven rare earth elements -- including ones used in magnetic imaging and consumer electronics.

Beijing's response to any further escalation may no longer be confined to tit-for-tat levies, as China is "refining its retaliatory approach", Lee said.

Since Trump's first term, China has diversified and fortified relationships with countries in Europe, Africa, Southeast Asia and Latin America, as well as South Korea and Japan.

China's overseas shipments had represented a rare bright spot last year, with the United States the top single country buyer of Chinese goods © STRINGER / AFP

Beijing could also expand government support for the private sector as entrepreneurs fall back into President Xi Jinping's good graces, added ANZ's Raymond Yeung.

China's leaders have been trying to promote domestic self-reliance in technology for some time, offering explicit support and reinforcing supply chains in key areas like AI and chips.

'No real protection'

While this time round Beijing has more experience with Trump, it "doesn't mean the Chinese economy can easily shake off the effects of soaring tariffs", said Frederic Neumann, chief Asia economist at HSBC.

Authorities will be looking to quickly offset falling US demand for Chinese goods, he said.

That could look like trade-in schemes or more consumer subsidies that make it easier for Chinese shoppers to buy common household items, from water purifiers to electric vehicles.

"By creating demand and trade opportunities for China's partners in Asia and Europe, the country could help shore up what's left of the liberal global trading order," Neumann said.

But whether or not Beijing can do that is yet to be seen.

The government has "been very reluctant to introduce real consumption stimulus, which is why there's such low confidence in any so-called consumption-boosting measures", Gao said.

"I don't think China has any real protection against a trade war," he added.

Success also goes beyond words, and ultimately hinges on Beijing's ability to deliver the long-awaited consumption boost, HSBC's Neumann warned.

"This is China's moment to seize economic leadership of the world," he said.

"But that leadership will only come about if domestic demand rebounds and fills the void left by an absent US."

© 2025 AFP

China is trying to tariff-proof its economy by boosting consumption and investing in key industries, but analysts say it remains critically vulnerable to the economic storm triggered by Donald Trump's…

China seeks to 'tariff-proof' economy as trade war with US deepens

Bayern Munich Vs Inter Milan: Late Frattesi Goal Hands Visitors 2-1 Win In Champions League Quarterfinal

Last Updated: April 09, 2025, 08:48 IST

Inter Milan secured a 2-1 win over Bayern Munich in the Champions League quarterfinal first leg with an 88th-minute goal by Davide Frattesi. Lautaro Martinez and Thomas Mueller also scored.

Davide Frattesi (center) celebrates with teammates after scoring the winner. (AP Photo)

Inter Milan scored an 88th minute winner through Davide Frattesi to snatch a 2-1 victory over shocked hosts Bayern Munich in their Champions League quarterfinal first leg on Tuesday.

Frattesi tapped in from close range to stun the Bavarians, who had levelled three minutes earlier through substitute Thomas Mueller, a player leaving the club at the end of the season after 25 years as Bayern did not offer him a new contract.

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Inter captain Lautaro Martinez had put the visitors in the driving seat after 38 minutes, drilling the ball into the net from a superb Marcus Thuram backheel after Bayern had earlier hit the post through Harry Kane.

The treble-chasing Italians, who have conceded three goals in their 11 Champions League matches so far this season, host Bayern in the return leg on April 16.

“Scoring in the 88th minute like that shows how much we wanted to keep playing our football and using the principles we’ve been relying on for almost four years now," said Inter coach Simone Inzaghi.

The winners of the quarterfinal will face either Borussia Dortmund or Barcelona, who play their first leg on Wednesday.

The Germans, who were missing several key players to injury including goalkeeper Manuel Neuer and attacking midfielder Jamal Musiala along with a trio of defenders, had two chances through Michael Olise and Kane in the opening 15 minutes.

They came even closer in the 26th after Olise outplayed almost the entire Inter defence to lay the ball off for Kane whose curled shot hit the post.

The Italians gradually grew bolder with Carlos Augusto firing into the side netting and Martinez charging into the box but slipping just before shooting.

The Inter captain, however, made no mistake when Thuram found him with a backheel flick from a Carlos Augusto cut-back and the Argentine completed the swift move with a deft finish.

He came close to adding another in 55th but Bayern keeper Jonas Urbig stopped his powerful drive from a tight angle.

Bayern, who lead the Bundesliga title race and face Borussia Dortmund on Saturday pinned Inter in their own half but neither Konrad Laimer, Raphael Guerreiro nor Kane with a low drive in the 80th could find an equaliser until crowd favourite Mueller was in the right place to score with five minutes left.

Their joy, however, only lasted three minutes with Frattesi tapping in the winner in a heartbreaking finale for the Bayern fans in the Allianz Arena, site of this year’s final.

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“It’s halftime, it’s 2-1 for Inter and we need to go to Milan to win," said Bayern coach Vincent Kompany. “We have lost and we had our chances in both halves but the results are not always fair."

“If you see how many chances we had against a defensive-minded Inter. Normally if we get these chances we score two or three goals," added Kompany. "We still fully believe in our chances in Milan."

Location : Munich (Germany)

First Published: April 09, 2025, 08:48 IST

Inter Milan secured a 2-1 win over Bayern Munich in the Champions League quarterfinal first leg with an 88th-minute goal by Davide Frattesi. Lautaro Martinez and Thomas Mueller also scored.

Bayern Munich Vs Inter Milan: Late Frattesi Goal Hands Visitors 2-1 Win In Champions League Quarterfinal

16 News Updates

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Arsenal stun Real Madrid with Rice's free-kick magic

Arsenal delivered a dominant 3-nil victory against reigning titleholders Real Madrid. Photo: Reuters

Mikel Arteta admitted Arsenal defied the odds with their stunning 3-0 win against Real Madrid as Declan Rice's free-kick magic left the Champions League holders in disarray.



Rice inspired one of the greatest results in Arsenal's storied history with two blistering free-kicks in the second half of the quarter-final first leg at the Emirates Stadium on Tuesday.



Mikel Merino scored the third goal for Arteta's side as they moved within touching distance of a first Champions League semi-final appearance since 2009.



It was an incredible moment for England midfielder Rice, who had never scored a free-kick in his career – a period spanning 338 previous matches – before the first of his thunderbolts flashed past Real keeper Thibaut Courtois.



Arsenal had also failed to find the net from a direct set-piece in almost four years, with their last coming via Martin Odegaard against Burnley in September 2021.



Gunners captain Odegaard put his hands on his head in disbelief when Rice completed his set-piece double, while Arteta was equally surprised.



"Declan's been very determined because we have said in the last few months that we have not scored a direct free-kick in three-and-half years," the Arsenal manager said.



"So, to score two goals in 12 minutes of that magnitude and of that quality from the same player, a player that has never scored a free-kick before in his career, what are the odds?



"If there's a player who can do it, how clean he strikes it it's Declan. But you have to execute it at the highest level. And against one of the best keepers in the world as well. It's amazing."



It was a cathartic result for Arsenal, who have endured a rocky season marred by their failure to keep pace with Liverpool in the Premier League title race.



The north Londoners are 11 points adrift of Liverpool, leaving the Champions League as their last chance this season to win a first trophy since the 2020 FA Cup.



Few would have expected them to get past 15-time European champions Real before the first leg.



But now Arsenal will travel to the Bernabeu for the return tie next week as firm favourites to progress to a last four clash against Paris Saint-Germain or Aston Villa. (AFP)

Mikel Arteta admitted Arsenal defied the odds with their stunning 3-0 win against Real Madrid as Declan Rice's free-kick magic left the Champions Leag...

Arsenal stun Real Madrid with Rice's free-kick magic

Shipping containers are stacked at the Port of Long Beach on April 2, 2025, in Long Beach, California. [Photo/Agencies]

BEIJING -- The "reciprocal tariffs" imposed by the US will damage its own and others' interests, said a white paper issued by China's State Council Information Office on Wednesday.

The imposition of "reciprocal tariffs" is a severe violation of World Trade Organization rules that damages the multilateral trading system and erodes the legitimate rights and interests of the parties affected, according to the white paper titled "China's Position on Some Issues Concerning China-US Economic and Trade Relations."

The US government has erected high trade barriers in the name of goals such as "industrial protection" and "national security." The move will not help solve domestic economic problems, but will ultimately backfire and make the United States a victim of its own misdeeds, the white paper said.

The tariffs will increase inflationary pressure in the United States, weaken its industrial base, aggravate panic in the financial market and increase the risk of US economic recession, the white paper said.

"History has repeatedly taught the lesson that trade protectionism will not help strengthen a country's domestic economy," the white paper said.

"Instead, it will do severe damage to world trade and investment, which could trigger a global economic and financial crisis, with the inevitable consequences for oneself and others," it added.

The "reciprocal tariffs" imposed by the US will damage its own and others' interests, said a white paper issued by China's State Council Information Office on Wednesday.

US 'reciprocal tariffs' will damage its own, others' interests: white paper

Iran says it is ready for nuclear deal if US stops military threats

2 hours ago Share Save David Gritten BBC News Share Save

AFP A mural on the wall of the former US embassy in Tehran depicts the Iranian government's view of negotiations with the US

Iran is ready to engage with the US at talks on Saturday over its nuclear programme "with a view to seal a deal", its Foreign Minister Abbas Araghchi has said. But US President Donald Trump must first agree there can be no "military option", Araghchi said, and added that Iran would "never accept coercion". He also insisted the negotiations in Oman would be indirect, contradicting Trump's surprise announcement on Monday that they would be "direct talks". Trump, who pulled the US out of a 2015 nuclear deal between Iran and world powers during his first term, warned that Iran would be in "great danger" if talks were not successful.

The US and Iran have no diplomatic ties, so last month Trump sent a letter to Iran's supreme leader via the United Arab Emirates. It said he wanted a deal to prevent Iran from acquiring nuclear weapons and to avert possible military strikes by the US and Israel. Trump disclosed the upcoming talks during a visit to the White House on Monday by the Israeli Prime Minister. Benjamin Netanyahu said on Tuesday that both leaders had agreed "Iran will not have nuclear weapons" and added "the military option" would happen if talks dragged on. Iran insists its nuclear activities are entirely peaceful and it will never seek to develop or acquire nuclear weapons. However, Iran has increasingly breached restrictions imposed by the existing nuclear deal, in retaliation for crippling US sanctions reinstated seven years ago, and has stockpiled enough highly-enriched uranium to make several bombs.

Watch: Iran, tariffs and hostages - key moments in Trump meeting with Netanyahu

The US president told reporters in the Oval Office on Monday that this weekend's meeting in Oman would be "very big". "I think everybody agrees that doing a deal would be preferable to doing the obvious," Trump said. But he also warned that it would "be a very bad day for Iran" if the talks were not successful. In an opinion piece published by the Washington Post on Tuesday, Iran's foreign minister declared that it was "ready to engage in earnest and with a view to seal a deal". "We will meet in Oman on Saturday for indirect negotiations. It is as much an opportunity as it is a test," Araghchi said. Iran harboured "serious doubts" about the sincerity of the US government's intentions, he noted, citing the "maximum pressure" campaign of sanctions that Trump restored soon after starting his second term. "To move forward today, we first need to agree that there can be no 'military option', let alone a 'military solution'," he said. "The proud Iranian nation, whose strength my government relies on for real deterrence, will never accept coercion and imposition." Araghchi insisted there was no evidence that Iran had violated its commitment not to seek nuclear weapons, but also acknowledged that "there may exist possible concerns about our nuclear programme". "We are willing to clarify our peaceful intent and take the necessary measures to allay any possible concern. For its part, the United States can show that it is serious about diplomacy by showing that it will stick to any deal it makes. If we are shown respect, we will reciprocate it." "The ball is now in America's court," he added.

Foreign Minister Abbas Araghchi says Iran will "never accept coercion" ahead of Saturday's talks in Oman.

Iran says it is ready for nuclear deal if US stops military threats

DECLAN RICE had played in more than 400 matches as a professional footballer and never scored a direct free-kick.

In fact, Arsenal’s £105million man has barely ever taken aim at goal with a dead ball in almost two seasons at the Emirates.

10 Declan Rice scored two sensational free-kicks that stunned Real Madrid Credit: Getty

10 Rice incredibly bent his first around the wall and beyond Thibaut Courtois Credit: Getty

10 His second was even better, straight into the top corner Credit: Getty

10 Mikel Merino then added a third to surely send Arsenal into the semi-final Credit: Getty

So how about this then? In a Champions League quarter-final against the reigning, and 15-time kings of Europe, Rice decided to score two of them inside a dozen minutes.

And both from 25 yards. Both mugging off Thibaut Courtois, one of the finest keepers in the world.

As the Emirates erupted in an ecstatic bedlam - bodies everywhere like some kind of an orgy - Arsenal’s non centre-forward Mikel Merino lashed home a third and Mikel Arteta’s men had secured a commanding lead to take into the Bernabeu next Wednesday night.

Real Madrid are never knowingly beaten before a tie is over but the Gunners are in touching distance of a first Champions League semi-final in 16 years.

And they have already beaten both of their potential last-four opponents, Paris St Germain or Aston Villa, this season.

What a night this was. The best the Emirates has ever known in its 19-year history - better even than the night when Jack Wilshere once skewered Lionel Messi’s Barcelona.

Real, with the starriest cast list on planet football, were utterly shell-shocked - blown away by three goals in 17 second-half minutes.

And Rice was simply magnificent. He ought never be employed as a passive holding midfielder again, as he has often done for England.

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10 Rice proved he is worth every penny of the £105m fee paid Credit: Getty

10 Rice had never scored a free-kick before tonight Credit: Getty

He very nearly had four goals in this match - a header thwarted by a brilliant Courtois save and a fierce shot cleared off the line by his England midfield partner Jude Bellingham, who was a spectator for large parts of this feverish evening.

Arteta’s mission was simple - to defeat the most famous club on the planet without a recognised striker and without a first-choice centre-half.

'Now everyone's calling me it...' - Declan Rice reveals hilarious new nickname

Real had no such issues. Four players, including Kylian Mbappe and Vinicius Jr, who had been threatened with a ban for shaking their wotsits at Atletico Madrid fans after the last round all avoided serious punishment to the surprise of precisely no one.

Luka Modric at 39, old enough to have played in the classic 4-4 North London Derby here 17 years ago - was fossilising, looking a weak link for the visitors.

The former Ballon d’Or winner tripped Bukayo Saka on the edge of the box early on, then was the beneficiary of some generous refereeing from the Bosnian Irfan Peljto, who looked in awe of Arsenal’s visitors and gave them plenty.

Real, shoddy on the domestic front of late, were not looking themselves at all - Antonio Rudiger’s attempted clearance cannoning off Eduardo Camavinga and almost costing an own goal.

After Myles Lewis-Skelly drifted into central midfield and kippered Modric, Thomas Partey had a shot pushed out by Courtois.

Vinicius pinged one wide after the referee failed to give Arsenal an obvious free-kick, the Emirates howling with rage.

10

10

It took half an hour before Real decided to join in. Bellingham moonwalked around Jurrien Timber and slipped a pass to Mbappe whose shot was smothered by David Raya.

Mbappe was beginning to get footloose but it was more meme content than genuine goal threat.

Saka fired a couple of low centres across the face of goal but, as we thought we knew, there was no centre-forward.

Shortly before the break, Courtois had to earn his corn. Rice’s downward header was pushed out instinctively before Gabriel Martinelli’s follow-up shot was blocked by the towering Belgian keeper.

Arsenal went into the interval heartened yet there was still anxiety around the place. With Real, you never know when the ignition switch will flick.

Early in the second half, Ancelotti started performing keepy-uppies in his technical area. The old dude won this thing twice as a player, not just five times as a manager, in case anyone had forgotten.

But then the party started. Saka dribbled infield and was upended by David Alaba and for once Peljto gave Arsenal a free-kick to the ironic cheers of the home crowd.

There was a lengthy confab between four Arsenal players before Rice was given the honours, ahead of Saka or Martin Odegaard.

Rice sized it up, wrapped a foot around the ball and curled it with power around the wall and past a flailing Courtois. Wallop.

There was a minor earthquake in the stands and Arteta’s men scented blood.

Now every Arsenal challenge, every pass, was cheered.

10

Soon, Lewis-Skelly released Martinelli, whose shot was pushed out brilliantly by Courtois, who then defied the false nine Merino.

From the following corner, Bellingham cleared off the line from a fierce Rice drive.

The £105million man had the devil in him. And then Saka was fouled again, 25 yards out, as if Real hadn’t learned their lesson.

This time Rice went for height and dip, with the same result - Courtois is 6ft 7in, he dived full stretch and didn’t get remotely near it.

Soon, it became ridiculous. Lewis-Skelly, full of it, cut inside from the left and fed Merino who whipped a first-time effort past Courtois.

It was the Spaniard’s sixth goal since taking over his makeshift striker duties.

Arteta’s men were pedal-to-the-metal. Real Madrid - the actual Real Madrid - were roadkill.

DECLAN RICE had played in more than 400 matches as a professional footballer and never scored a direct free-kick.In fact, Arsenal’s £105milli

Arsenal 3 Real Madrid 0: Sensational Rice scores first TWO free-kicks of his career as Gunners have one foot in semis

Declan Rice bagged a sensational brace against Madrid

Declan Rice stole the show as Arsenal cruised to a 3-0 victory over Real Madrid on Tuesday night to put themselves in control of the Champions League quarter-final tie. The England international produced two incredible free-kicks to put the Gunners in complete control of their quarter-final tie. Rice whipped a glorious strike around the towering Madrid and beyond Thibaut Courtois to send the Emirates Stadium into a frenzy after 58 minutes. He then produced an even better strike just 12 minutes later when smashing a fierce effort into the top corner.

Mikel Merino then put the game to bed in the 75th minute when curling a neat finish into the bottom corner whilst on the turn. Here is how Express Sport rated the Arsenal players… Arsenal player ratings vs Real Madrid (4-3-3) David Raya - 7 Made a routine stop to deny Kylian Mbappe in the first half and answered every question that was asked of him, especially in possession. Jurrien Timber - 8 (90', White) Strong display to prevent Vinicius Jr from leaving any sort of mark on the match. Was smart in his offensive play too, drifting inside to leave Bukayo Saka one-on-one against his man. William Saliba - 8 Monstrous performance from the centre-back. Marshalled his backline well and stepped in to read the danger on several occasions when Madrid threatened on the counter. Jakub Kiwior - 7 Stepped up well in the absence of Gabriel and coped well with the pace and energy of the Madrid frontline.

Myles Lewis-Skelly impressed against Madrid

Myles Lewis-Skelly - 9 Did well to minimise the threat of Rodrygo and made some smart passes forward to pick out teammates in the final third. The 18-year-old showed maturity beyond his years to make an impact at both ends of the pitch, bagging an assist for Merino’s goal with a neat pass. Thomas Partey - 7 Made several key challenges but lost his man on the counter on occasions in the first half which could have proved more costly on another night. Covered a lot of ground to allow Rice and Odegaard to push forward and pin Madrid inside their own half. Booked. Martin Odegaard - 6 A quiet performance from the skipper. Favoured simple passes out wide over looking to unpick the Madrid backline himself, ultimately preventing Arsenal from creating chances centrally. Capable of a lot more and will be fortunate that his teammates stepped up around him. Declan Rice – 9 (80’, Tierney) A great performance from the England international, with his goal, of course, being the highlight. The midfielder drifted wide well to cause problems down the left, and he was unfortunate not to have opened the scoring sooner with a smart header which was clawed away by Courtois. Bukayo Saka – 9 (74’, Trossard) The England international produced a performance which David Alaba will have nightmares about for a very long time. Saka weaved his way to the byline on countless occasions to deliver dangerous crosses, and he may feel unfortunate not to have registered at least one assist on the night.

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ARSENAL 3-0 REAL MADRID: The Gunners ran riot against Carlo Ancelotti's side at the Emirates Stadium.

Arsenal vs Real Madrid player ratings: Three 9/10s as Champions League glory edges closer

US Trade Representative Jamieson Greer takes his seat upon arrival at the start of a Senate Finance Committee hearing on President Donald Trump's trade policies

Jamieson Greer's appearance in Congress came with Republicans ringing alarm bells over Trump's escalating trade war and Wall Street clamoring for clarity on the president's plans after a historic market sell-off.

The US trade representative argued that the strategy was "already bearing fruit."

"Nearly 50 countries have approached me personally to discuss the president's new policy and explore how to achieve reciprocity," he told the Senate Finance Committee.

Several countries -- including Argentina, Vietnam and Israel -- had offered to reduce their tariffs, Greer said, while auto manufacturers were canceling layoffs and companies had announced $4 trillion in new investment in the United States.

The annual hearings on the president's trade policies are often staid affairs.

But they have generated more interest this year after Trump last week announced a baseline tariff of 10 percent and extra levies of up to 50 percent on dozens of countries exporting more to the United States than they buy.

Greer told senators the country had shed five million manufacturing jobs and 90,000 factories in the last 30 years, since a trilateral free trade agreement with Mexico and Canada was enacted.

America's "large and persistent trade deficit" will not be resolved overnight, he cautioned.

"But all of this is in the right direction," he told senators.

"We must move away from an economy based solely on the financial sector and government spending, and we must become an economy based on producing real goods and services," Greer added.

Senior Republican lawmakers have pledged to allow Trump time to see how his tariff gambit plays out, but are desperate to see progress on trade negotiations they believe will calm markets.

'No clear message'

Wall Street stocks surged higher early Tuesday after a three-day rout as global markets rallied in hopes of trade agreements.

But rank-and-file lawmakers remain jittery about the effect of the tariffs and have been demanding briefings on the strategy, with some even seeking to remove Trump's authority to raise import levies.

Republican Senator Chuck Grassley is leading a bipartisan effort to require congressional approval of tariffs within 60 days, although it is not expected to get a floor vote.

Four Republican senators voted with Democrats last week to pass a symbolic resolution to undo Trump's tariff on Canada that does not have the force of law.

Trump himself ruled out any pause in his aggressive new global trade policy on Monday, and threatened to slap an additional 50 percent tariff on China over its retaliation.

He also dismissed the possibility of a trade deal with the European Union and called his critics on trade "weak and stupid" while pledging to veto Grassley's bill, which is backed by at least seven Republicans.

Democrats were expected to press Greer on the impact of tariffs on prices and the broader economy.

The party's top senator on the finance committee, Ron Wyden, assailed the White House for having "no clear message" about how Trump picked his tariff targets and how long he plans to keep them up.

He suggested Trump was deliberately tanking the economy to bring down interest rates, making borrowing cheaper for the rich.

Greer's appearance was the first of two annual hearings on the president's trade policies. He will be grilled by the House Ways and Means Committee on Wednesday.

© 2025 AFP

The top US trade official on Tuesday defended President Donald Trump's sweeping tariffs on nearly every other nation, telling US senators almost 50 countries had reached out to make a deal.

Trump's trade representative says tariffs 'bearing fruit'

Ata mārie and welcome to your Tuesday summary of international business and political news from overnight.

We start again with tariffs and multiple media outlets continue to cover events as they unfold around the world.

US President Donald Trump has threatened China with an extra 50% tariff from Wednesday if it doesn't remove its retaliatory tariffs of 34%, the Guardian reported.

“Additionally, all talks with China concerning their requested meetings with us will be terminated! Negotiations with other countries, which have also requested meetings, will begin taking place immediately. Thank you for your attention to this matter!” Trump wrote.

Meanwhile, the European Commission proposed counter-tariffs of 25% on a range of US goods in response to Trump’s tariffs on steel and aluminium, Reuters reported.

The tariffs on some goods would come into effect on May 16 and others later in the year. The goods included diamonds, dental floss, sausages, nuts, and soybeans, the Guardian noted.

Bourbon, wine, and dairy were removed from the original list. Some countries, including France and Ireland, had asked for bourbon to be dropped from the list, after Trump threatened 200% tariffs on French wine and champagne.

Meanwhile, the bloodbath on global sharemarkets continued overnight. The BBC reported European markets initially plunged on opening but then recovered some ground.

Al Jazeera reported Hong Kong’s sharemarket suffered its worst one-day decline in about three decades amid the wave of panic selling. The benchmark Hang Seng Index closed down 13% on Monday local time.

It followed another negative session on the local NZX50 index yesterday, with NBR reporting it was the largest single-day fall since March 2020.

The Top 50 Index closed down 449 points, or 3.7%, to 11,776 with $158.4 million worth of shares changing hands. The broader market was down by as much as 3% in early trading and continued to deteriorate over the course of the day.

The NZX is now in correction territory – when a stock index falls more than 10% – having fallen 11.3% since its high on December 30.

US President Donald Trump.

Over the Ditch, the ABC’s business editor Michael Janda assessed implications for the local ASX200 index, after about A$110 billion of value was wiped from listed companies yesterday.

He said the 4.2% slump for Australia's index followed the 2.4% decline on Friday. “I'm not sure what it says about Aussie traders that they had the chance to react first to Donald Trump's tariff announcement, and Thursday's local consensus appeared to be broadly, ‘meh, not too much to see here’.

“Or maybe they're just quietly confident Australia will continue to be the lucky country, which global financial catastrophes recently appear to have largely bypassed,” Janda said.

Meanwhile, Bill Ackman – a billionaire backer of Trump – urged the president to pause the tariffs, or risk "a self-induced economic nuclear winter," the BBC reported.

Ackman said the president should take three months to allow countries to renegotiate their trading relationships with the US. Trump had said: "Sometimes you have to take medicine to fix something."

Ackman acknowledged Trump’s argument that global trade had "disadvantaged" the US. He said the tariffs that Trump had imposed were "massive and disproportionate".

CNBC also reported on comments from BlackRock chief executive Larry Fink, who said a number of key business leaders thought the US economy was already in a significant downturn.

“Most CEOs I talk to would say we are probably in a recession right now. One CEO specifically said the airline industry is a proverbial bird in a coal mine – canary in the coal mine – and I was told that the canary is sick already,” Fink said.

He said the tariffs could put upward pressure on inflation and make it difficult for the Federal Reserve to cut interest rates. “This notion that the Federal Reserve is going to ease four times this year, I see zero chance of that. I’m much more worried that we could have elevated inflation that’s going to bring rates up much higher than they are today.”

BlackRock CEO Larry Fink.

And finally, global vehicle manufacturer Stellantis has hired McKinsey & Co for strategic advice on luxury brands Maserati and Alfa Romeo, amid the trade tariff war, Bloomberg reported.

Chair John Elkann asked the consulting firm to assess options for the brands, including partnering with manufacturers for new technology, according to sources.

“McKinsey has been asked to provide its considerations regarding the recently announced US tariffs for Alfa Romeo and Maserati,” a spokesperson confirmed.

Trump’s 25% automotive tariffs threatened to slash billions of euros off Stellantis’s earnings. The company had been offering discounts in the US to ease fears that the levies could make its cars more expensive, Bloomberg noted.

The National Business Review Online is New Zealand's authority in breaking business news and analysis.

Trump threatens extra 50% tariff on China; bloodbath on markets

Beijing 'won't cave in' to 50pc Trump tariff threat

An electronic board shows stock indices in the Lujiazui financial district in Shanghai. Photo: Reuters

China said it would never accept the "blackmail nature" of the United States after Washington escalated tariff threats against the nation, the Ministry of Commerce said on Tuesday.



The US threats were "a mistake on top of a mistake", a ministry spokesperson said in a statement, urging the US to properly resolve differences with China through dialogue with mutual respect and on an equal footing.



Trump has threatened to impose an additional 50 percent duty on US imports from China on Wednesday if Beijing did not withdraw the 34 percent tariffs it had slapped on US products last week. Those tariffs had come in response to 34 percent "reciprocal" duties announced by Trump.



China's retaliatory levies are the firmest response yet to Trump's announcement, which has been met with bewildered condemnation from other leaders.



Overnight, Liu Pengyu, spokesman for Beijing's embassy in the United States, said China would not cave to pressure or threats.



"We have stressed more than once that pressuring or threatening China is not a right way to engage with us. China will firmly safeguard its legitimate rights and interests," said Liu.



He described Trump's threat as a "typical move of unilateralism, protectionism and economic bullying."



Stocks in mainland China and Hong Kong cratered on Monday as part of a worldwide stocks rout in response to Trump's tariffs. The Hang Seng Index recorded its biggest drop since the 1997 Asian financial crisis, falling 13.2 percent. (Agencies)

China said it would never accept the "blackmail nature" of the United States after Washington escalated tariff threats against the nation, the Ministr...

Beijing 'won't cave in' to 50pc Trump tariff threat

A US cargo ship docks at the Qingdao Port, Shandong province. [Photo by Yu Shaoyue/For China Daily]

The United States will likely experience more pain from retaliatory tariffs than China, said Steve Cochrane, chief Asia-Pacific economist at Moody's Analytics during an interview with CCTV News on Monday.

He explained that while the US is China's second-largest source of imports, it only accounts for about 7 percent of total imports coming into China.

China's import sources are very broadly distributed around the world. There isn't a high concentration that comes from every single country, so imports coming in from the US can easily be substituted by other countries, he added.

Taking the trade war on soybeans back in 2018 for example, he stated that China shifted soybean imports from the US to Brazil, with Brazil still an important supplier of soybeans to China.

Cochrane thinks China will be able to find other sources of imports for those goods. This situation will hurt the agricultural economy, which is in the mid-section of the US economy geographically, and it could be very painful for the US.

If indeed nothing changes and President Trump makes no pullback on tariffs, the consumer side of the economy will slow down, prices will increase, and consumers will be hesitant to spend given the uncertainty.

More importantly, investment spending will slow down or come to a halt until investors and individual firms have a clear understanding of where things are in terms of the tariffs, he said.

Cochrane believes that people could see a recession happening very quickly in the US, which could last a year or so.

The United States will likely experience more pain from retaliatory tariffs than China, said Steve Cochrane, chief Asia-Pacific economist at Moody's Analytics during an interview with CCTV News on Monday.

Moody's economist: US to feel greater impact from retaliatory tariffs

Maros Sefcovic, the nominee to become the European Union's trade and economic commissioner, holds a press conference after hearings, in Brussels, Belgium November 4, 2024.[Photo/Agencies]

European Union trade ministers struck a cautious tone after their meeting in Luxembourg on Monday, resisting immediate retaliation against the United States' "reciprocal tariffs" and warning that "there are no winners" in a trade war.

The 27-nation bloc faces extensive US tariffs, including 25-percent duties on steel, aluminum, and cars, plus 20-percent "reciprocal" tariffs on most other goods starting on Wednesday, though officials stressed they remain focused on finding a negotiated solution rather than matching all US measures.

Speaking at a news briefing following the meeting, EU Trade Commissioner Maros Sefcovic said the EU is "in early stages of discussions" with the US that are complicated "because the US view tariffs not as a tactical step, but as a corrective measure".

He said the two sides agree that "the EU-US trade relationship could benefit from a fresh look and a boost in strategic areas", noting both "face similar challenges".

He added the focus so far has been on finalizing steel and aluminum countermeasures, though the announcement of the new "so-called reciprocal tariffs … forces us to look at additional steps".

"After carefully reviewing all of it, we have worked to table a robust list of countermeasures, while balancing the burden across all member states. We will be sending the final list and tariff levels to them later today."

A member-state vote is set for Wednesday, "with the final list set to be adopted on April 15, and then duties on products will kick in on that day for the first set of measures, and on May 15 for the remaining ones", he said.

As the EU trade ministers arrived for the crucial talks, they offered differing perspectives to reporters, highlighting the complex challenge of forming a unified response.

Robert Habeck, Germany's economy minister, emphasized that the EU could maintain a strong stance against the US, provided the member states present a unified front.

"The stock markets are already collapsing and the damage could become even greater. It is therefore important ... to act clearly and decisively and prudently, which means realizing that we are in a strong position. America is in a position of weakness," Habeck said.

Laurent Saint-Martin, France's minister for foreign trade, advocated for potentially "extremely aggressive" countermeasures to the sweeping tariffs.

"We must not exclude any option on goods, on services ... and open the European toolbox, which is very comprehensive," he said, referring to the EU's anti-coercion instrument.

The Netherlands' Minister for Foreign Trade and Development Reinette Klever called for a measured approach.

"We need to get ourselves at the table with the Americans and see how we can lower these tariffs," she said.

European Commission President Ursula von der Leyen reiterated that US tariffs would only harm US consumers and emphasized that while "Europe is always ready for a good deal", the bloc stands prepared to implement countermeasures and strengthen its single market, if necessary.

jonathan@mail.chinadailyuk.com

EU ministers strike cautious tone over US tariffs

People attend a rally to celebrate the expulsion of South Korean President Yoon Suk Yeol in Seoul, South Korea, on April 5, 2025. — Reuters

South Korea will hold a presidential election on June 3, the country's acting president said Tuesday, after former leader Yoon Suk Yeol was removed from office over a disastrous declaration of martial law.

The democratic country has been effectively leaderless since December, when ex-president Yoon attempted to subvert civilian rule but was quickly impeached by lawmakers and suspended from office.

The country's Constitutional Court last week upheld his impeachment, stripping him of the top job and triggering fresh elections, which must be held within 60 days.

The government has set June 3 as polling day, Prime Minister Han Duck-soo said Tuesday, adding that it would be declared a temporary public holiday to facilitate voting.

The date took into account "the need to ensure smooth election operations and allow sufficient time for political parties to prepare", he said.

Han called on ministries and the National Election Commission to "make thorough preparations to ensure an election that is fairer and more transparent than ever, and one that can earn the trust of the people".

The winner of the election will be inaugurated the following day, unlike a regular poll, where a president-elect has a two-month transition period.

For the time being, Prime Minister Han is running the government as acting president, a job he resumed recently after the Constitutional Court threw out his impeachment.

The official campaign period will run from May 12 until June 2.

Frontrunner Lee

The opposition leader, Lee Jae-myung, is the frontrunner to clinch the top job, with a 34% support rating, according to the latest Gallup poll.

His party already controls the National Assembly.

Lee narrowly lost to Yoon in the 2022 presidential election but staged a political comeback as leader of the main opposition, despite a career shadowed by legal troubles, including ongoing trials.

Sources told AFP on Tuesday that Lee was preparing to step down from leading the Democratic Party, which would allow him to compete freely for the party's nomination.

Experts say he is now "highly likely" to win.

"With the election date so soon, it's hard to expect a presidential candidate from an impeached party to be elected president," said Lee Jun-han, a politics professor at Incheon National University.

"The current polling shows Lee Jae-myung has high approval ratings, and he is very likely to win it, as it seems he doesn't have a proper challenger."

In distinct second place is Labour Minister Kim Moon-soo.

Polling around nine per cent, he leads a pack of challengers from Yoon's People Power Party, which also includes former party chief Han Dong-hoon.

Millions of Koreans watched the Constitutional Court hand down its verdict live on television last Friday, stripping Yoon of office.

Yoon sent armed soldiers to parliament in a bid to prevent lawmakers from voting down his decree, which the court said amounted to deploying troops for "political purposes".

He is the second South Korean leader to be impeached by the court after Park Geun-hye in 2017.

South Korea has spent the four months since the martial law declaration without an effective head of state.

The leadership vacuum coincided with a series of crises and headwinds, including an aviation disaster and the deadliest wildfires in the country's history.

Last week, South Korea was slammed with 26% tariffs on exports to its key ally, the United States, after President Donald Trump unveiled global, so-called reciprocal levies.

Yoon also faces a separate criminal trial on charges of insurrection over the martial law bid.

South Korea will hold a presidential election on June 3, the country's acting president said Tuesday, after former leader Yoon Suk Yeol was removed from office over a disastrous declaration of...

South Korea sets new presidential election for June 3

EU plans to charge import duties of up to 25 per cent on a number of products sold from the US. Graphic: Paul Scott

The European Union (EU) is to hit back at the United States with its own tariffs, targeting a range of goods from US soybeans, to steel, oranges, chainsaws and washing machines.

The EU plans to charge import duties of up to 25 per cent on a number of products sold from the US, in the bloc’s initial response to massive tariffs on global trade introduced by US president Donald Trump.

The European Commission is now planning a further package of tariffs, beyond the measures EU states are due to vote to approve on Wednesday. It would take a qualified majority of EU leaders voting against to rescind the proposed levies. The European commission is the EU’s executive arm that formulates the bloc’s trade policy,

The list of US products and goods that are to be hit with tariffs by the EU has been the subject of intense lobbying between national capitals over recent weeks.

READ MORE

Bourbon, wine and US dairy products had been in the firing line, but France, Italy and Ireland lobbied hard against their inclusion, over fears their domestic spirits and agricultural industries would in turn be drawn into the middle of the EU-US dispute.

Mr Trump had warned that if the EU taxed bourbon, he would respond by putting 200 per cent tariffs on Irish whiskey, French champagne, Italian wine and other European spirits.

The Government had also been concerned about Ireland’s large exports of butter to the US, if Mr Trump was angered by tariffs put on US cheese.

What do Donald Trump’s April tariffs mean for Ireland? Listen | 38:28

The final list of products the EU plans to raise tariffs on includes soybeans, almonds, an extensive range of steel and clothing products, as well as motor-powered boats. The EU will also target US exports of oranges, poultry, sausages, raspberries, kitchenware, door and window frames, and non-alcoholic beer.

The tariffs, which are effectively taxes to import goods, will range from between 10 and 25 per cent.

The EU had been drawing up this initial package of counter-tariffs since Mr Trump announced tariffs of 25 per cent on imports of steel and aluminium from the EU and elsewhere in mid-March. Those were followed by similar US tariffs on imports of automobiles and car parts.

[ Why did Irish pharma exports escape the tariff guillotine?Opens in new window ]

Then came Mr Trump’s sweeping levies on nearly all trading partners last week, which saw the president hit EU states with blanket 20 per cent tariffs on imports to the US.

The European Commission had drawn up the range of US products to hike trade levies on. EU states will now vote to approve the retaliatory measures on Wednesday.

The tariffs will impact about €21 billion worth of US trade with the EU. Initially some €26 billion worth of trade had been in the commission’s crosshairs. However, it reconsidered import duties on bourbon and other products, on foot of lobbying from capitals.

Barry Cowen, a Fianna Fáil MEP, said the decision to not tariff US bourbon and dairy was welcome. The final list of US products set to be subject to tariffs would be “less economically disruptive” to EU states, while still putting pressure on the US to negotiate.

The series of tariffs announced by Mr Trump will raise the cost of importing €380 billion worth of goods into the US from the EU.

[ Government delays Spring economic statement amid tariff uncertaintyOpens in new window ]

Commission officials are examining a number of options, which include targeting the trade of services – such as the output of US tech and social media giants – as well as goods.

The Government is opposed to dragging US tech multinationals into the fray, given the high concentration of the companies with European bases in Dublin.

Commission officials continue to stress that the EU wants to cut a deal with the US, to end the cycle of tit-for-tat tariffs Mr Trump has kicked off.

Soybeans, oranges, steel and almonds to be hit with retaliatory measures

EU plans to hit back with 25% counter-tariffs targeting US goods

A cargo ship in Shanghai, on April 8, 2025: tariffs are set to damage trade flows between the US and China . (Photo by Hector Retamal / AFP)

China is among the biggest targets of Donald Trump’s tariffs, with a 34 per cent tariff due to come into force today, on top of a 20 per cent levy already imposed. Beijing’s response has been tougher than any in the world, slapping a 34 per cent tariff on all imports from the United States along with a raft of other measures. And in turn Trump has responded by threatening a further 50 per cent tariff on China.

China’s approach is in sharp contrast with that of other Asian countries, some of which face even steeper tariffs. Most have ruled out any retaliatory action, instead offering concessions.

The size of China’s economy and its position at the heart of many manufacturing supply chains leave it in a stronger negotiating position with the US than any other country in the world. But the severity of its response also reflects Beijing’s failure to make any progress in resetting the bilateral relationship with Washington since Trump returned to the White House.

China has diversified its export market in recent years so that while the US remains its biggest market, its share of Chinese exports has fallen substantially. And its manufacturers are so dominant in some sectors, that American retailers will struggle to find alternatives in the short term.

READ MORE

China’s response to the US tariffs included filing a complaint under the World Trade Organisation’s (WTO) mechanism. This reflects China’s wish to present itself as a champion of the multilateral, rules-based trading system.

Beijing would like to build a closer economic relationship with the EU, perhaps reviving the Comprehensive Agreement on Investment that Brussels put on ice in 2021. But the EU and its member-states remain wary, fearing that their markets will now be targeted more than ever by Chinese exporters.

Many countries, including some in the EU, are hoping that market turmoil will generate enough domestic political pressure for Trump to change course. Beijing is putting the alternative strategy to the test by taking the fight to Trump and preparing to face the consequences.

The size of China’s economy and its position in manufacturing supply chains leave it in a stronger negotiating position with the US than many other countries

The Irish Times view on China and the US: Beijing takes the fight to Trump

US President Donald Trump (left) and Chinese President Xi Jinping meet on the sidelines of the G20 Summit in Hamburg, Germany. — Reuters/File

After Beijing vowed a "fight to the end" on levies, the White House confirmed on Tuesday that additional US tariffs on Chinese imports are set to reach 104% on Wednesday.

US President Donald Trump had vowed a further 50% tariff on goods from China if Beijing did not retract upcoming retaliation — and the White House confirmed that Trump will proceed with this action, taking the overall added duties this year to 104%.

US President Donald Trump believes that China has to make a deal with the United States concerning additional tariffs that are set to go into effect on Wednesday, White House press secretary Karoline Leavitt told a news briefing.

"The Chinese want to make a deal. They just don't know how to do it," Leavitt said on Tuesday.bus

"He believes China has to make a deal with the United States." If China reaches out, she added, Trump would be "incredibly gracious, but he's going to do what's best for the American people."

Earlier today, Chinese commerce ministry said that the country will resolutely take countermeasures to safeguard its rights and interests should the United States escalate its tariff measures, Xinhua reported.

The comments were made by a spokesperson with the Ministry of Commerce after the United States threatened to impose an additional 50% tariff on Chinese imports, which the spokesperson said China firmly opposes.

The US so-called "reciprocal tariffs" against China are groundless and a typical practice of unilateral bullying, the spokesperson said.

The spokesperson noted that the countermeasures China has adopted are entirely legitimate actions aimed at protecting its sovereignty, security, and development interests, as well as maintaining a normal international trade order.

The US tariff escalation threat against China compounds its mistake and further exposes its nature of blackmail, which China will never accept, said the spokesperson.

"China will fight till the end if the US side is bent on going down the wrong path," the spokesperson noted.

China reiterates that there is no winner in a trade war and protectionism leads nowhere, said the spokesperson, adding that pressuring and threatening is not the right way to engage with the country.

China urges the United States to immediately correct its wrongdoings, cancel all unilateral tariff measures against China, stop its economic and trade suppression, and settle differences with China properly through equal-footed dialogue on the basis of mutual respect, the spokesperson said.

After Beijing vowed a fight to the end on levies, the White House confirmed on Tuesday that additional US tariffs on Chinese imports are set to reach 104% on Wednesday.US President Donald Trump...

White House says new US tariffs on China to hit 104% on Wednesday

The European Union graciously offered to negotiate with Donald Trump on tariffs before retaliating, but the U.S. president is too blinded by his own conspiracy to even consider the deal.

On Monday, European Commission President Ursula von der Leyen offered the United States a “zero-for-zero tariff” on cars and industrial goods to avoid a trade war, a pretty generous offer given Trump slapped 20 percent tariffs on the EU—and pretty much everywhere else—last week.

“We have offered zero-for-zero tariffs for industrial goods as we have successfully done with many other trading partners. Because Europe is always ready for a good deal. So we keep it on the table,” von der Leyen said in a statement.

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Trump, however, told reporters Monday afternoon that the deal isn’t enough. “The EU has been very tough over the years, I always say it was formed to really do damage to the United States and trade,” Trump said. “That’s the reason it was formed.”

In case you forgot, the EU was not, in fact, formed to screw the United States but to foster peace and cooperation among European countries post-World War II. It was founded in 1992 and is made up of 27 countries and seven major institutions that manage a common budget, facilitate trade, and make laws.

The president continued his rewrite of European history, claiming the EU was formed solely “to create a unified force against the United States for trade.” He added that the union has used NATO—an alliance that the United States is a part of—to take advantage of the United States.

The outlandish rant is Trump’s way of saying, no, he won’t accept von der Leyen’s deal. It’s a refusal that will likely result in further retaliatory tariffs on the United States as an economic recession looms.

Donald Trump unloaded on the European Union.

Trump Forgets Basic European History in Bizarre Tariff Rant

'Fake News’: White House Denies Report That Donald Trump Considered 90-Day Tariff Pause

Curated By :

News18.com

Last Updated: April 07, 2025, 21:00 IST

The White House denied reports that President Trump plans to suspend reciprocal tariffs for 90 days for all countries except China, as cited by CNBC and Reuters.

US President Donald Trump gestures as he arrives at Joint Base Andrews in Maryland, US. (IMAGE: REUTERS)

The White House has rejected reports claiming that US President Donald Trump is planning to suspend reciprocal tariffs for 90 days for all countries except China. The report was reported by broadcasters CNBC and Fox News, who cited White House Economic Council Director Kevin Hassett and was also reported by Reuters.

US markets turned positive after the reports made headlines. However, the White House swiftly pushed back, sharing the original Fox News interview to clarify that Hassett had been misquoted.

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US President Donald Trump cautioned against “stupid" panic on Monday as a global stock market rout deepened after Beijing retaliated against his tariffs offensive.

Stock Markets LIVE Updates: Trump Tariff Blitz Jolts Markets

He also threatened huge additional tariffs on imports from China if Beijing did not withdraw its retaliation plans, adding Washington would begin negotiations with other countries if they wish.

“If China does not withdraw its 34 percent increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50 percent, effective April 9th," Trump said in a Truth Social post.

Shares in New York joined the slump, with all three major US indices falling more than three percent in early trading.

After opening sharply lower, stocks briefly spiked into positive territory following an erroneous report that the White House was considering a 90-day tariff pause.

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European equities were deep in the red but Asia fared worse, with Hong Kong’s Hang Seng index crashing 13.2 percent, its biggest drop since the 1997 Asian financial crisis, and Tokyo’s Nikkei 225 falling an eye-watering 7.8 percent.

A 10-percent “baseline" tariff on imports from around the world took effect Saturday but a slew of countries will be hit by higher duties from Wednesday, with levies of 34 percent for Chinese goods and 20 percent for EU products.

Location : Washington D.C., United States of America (USA)

First Published: April 07, 2025, 20:12 IST

The White House denied reports that President Trump plans to suspend reciprocal tariffs for 90 days for all countries except China, as cited by CNBC and Reuters.

'Fake News’: White House Denies Report That Donald Trump Considered 90-Day Tariff Pause

How Countries Are Responding To Trump's Tariffs As Global Markets Plunge?

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News18.com

Last Updated: April 07, 2025, 15:16 IST

Global stock markets plummeted after China imposed retaliatory tariffs following President Trump's 54% duty on Chinese imports. Hong Kong, Frankfurt, Taipei, and Tokyo saw significant losses

On Wednesday, Trump announced an additional 34% tariff on all Chinese goods imported into the US (Photo: X)

Global stock markets were in turmoil on Monday after China announced retaliatory tariffs in response to President Donald Trump’s increase in duties on Chinese imports to 54%.

Trading floors were inundated with a wave of selling as investors sought refuge, leading to Hong Kong’s steepest decline in nearly 30 years at 13 percent. Frankfurt plummeted 10 percent, Taipei 9.7 percent, and Tokyo almost eight percent. Wall Street futures were also hit hard, and commodities tumbled.

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President Trump’s announcement of sweeping tariffs against US trading partners triggered last week’s market chaos. He justified the move, claiming years of unfair trade practices and asserting that governments were eager to negotiate with Washington.

However, after Asian markets closed on Friday, China declared it would impose retaliatory tariffs of 34 percent on all U.S. goods starting April 10.

Why Has Sensex Crashed Today? Key Factors Behind Share Market’s Black Monday On April 7

Here’s How Countries & Their Stock Markets Responded To Trump’s Tariffs

China

In China, where markets reopened after a public holiday, the Shanghai Composite Index closed 7.3% lower, while the blue-chip CSI300 index dropped about 7%. In Hong Kong, the benchmark Hang Seng index last traded nearly 12% lower. On Wednesday, Trump announced an additional 34% tariff on all Chinese goods imported into the US, raising duties on all Chinese imports to well over 54% when existing tariffs are considered. In response, Beijing on Friday imposed its own baseline 34% tariffs on all American imports, along with other measures like export controls on rare earth minerals used in high-tech products, such as computer chips and electric vehicle batteries, and trade restrictions on specific US companies. Within 48 hours of Trump’s market-impacting tariffs announcement, the world’s second-largest economy responded swiftly with its own punitive measures on US goods and firms. The message is clear: China is well-prepared to endure a trade war and emerge stronger.

That message was telegraphed to China’s domestic audience and foreign countries alike in a flurry of state media coverage and government statements over the weekend following Trump’s epic assault on the global trading system.

“US tariffs will have an impact (on China), but ‘the sky won’t fall,’" a commentary in the ruling Chinese Communist Party’s mouthpiece People’s Daily said Sunday.

“Since the US initiated the (first) trade war in 2017 – no matter how the US fights or presses – we have continued to develop and progress, demonstrating resilience – ‘the more pressure we get, the stronger we become,’" read the commentary, which was also on the front page of the paper’s Monday edition.

India

Equity markets in India experienced significant declines on Monday, with benchmark indices falling over 5 percent in early trading due to a global downturn triggered by the reciprocal tariffs imposed by the US and China’s subsequent retaliation.

The Sensex plummeted 3,939.68 points or 5.22 percent, hitting an intraday low of 71,425.01, while the NSE Nifty dropped 1,160.80 points or 5 percent to 21,743.65 — marking its worst opening since March 2020, at the peak of the COVID-19 pandemic. This represented the most substantial single-day drop since June 4, 2024, when the indices had fallen more than 8 percent. After Trump’s tariff announcement, India’s Ministry of Commerce & Industry had said discussions are ongoing between Indian and US trade teams for the expeditious conclusion of a mutually beneficial, multi-sectoral Bilateral Trade Agreement. Unlike other countries, India, however, does not plan to hit back at the US over the 26% reciprocal tariffs, a government official said, citing the ongoing trade deal talks between the two nations, news agency Reuters reported. The government of India has found a clause of Trump’s tariff order that offers a possible reprieve for trading partners who “take significant steps to remedy non-reciprocal trade arrangements", the official said.

According to this clause, the countries can be excused or get relief from the tariffs if they make efforts to fix unfair trade deals. Another official, who did not want to be named, said that New Delhi sees itself to be in a better place than other Asian nations like China, Vietnam and Indonesia, who have been hit by higher Trump tariffs, as India is one of the first nations to have already initiated talks with Washington over a trade deal – something the country considers an advantage.

Black Monday 2.0 Explained: Why Trump’s Tariffs Are Raising Fears Of A 1987-Style Crash

Canada

Canada was largely spared from the global tariffs announced by Trump on Wednesday, as Washington granted an exemption for goods compliant with the US-Canada-Mexico free trade agreement, covering most products. However, Canada, one of America’s largest trading partners, still faces tariffs on steel, aluminum, and other products, in addition to levies on automobiles.

Prime Minister Mark Carney announced “25 percent tariffs on all vehicles imported from the United States that are not compliant with CUSMA," referring to the Canadian acronym for the existing North American free trade agreement. This followed Trump’s imposition of 25% tariffs on Canadian vehicles. The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) fell 1,142.30 points, or 4.7%, to 23,193.47, its lowest closing level since September 10 and its biggest decline since March 2020 at the start of the COVID-19 crisis. Since Wednesday, when the U.S. unveiled sweeping tariffs on other countries, the index has lost 8.4%, while it posted a weekly decline of 6.3%.

Japan

Japan’s Nikkei 225 index plummeted 7.8 percent on Monday in line with global sell-off. Prime Minister Shigeru Ishiba said that his government will present Trump with a “package" of measures to win relief from US tariffs. Earlier, Trade minister Yoji Muto had described the 24 percent tariffs on Japanese exports to the United States as “extremely regrettable" and reiterated his strong request to Washington not to impose them on Japan.

Taiwan

Taiwanese stocks triggered a circuit breaker after plummeting nearly 10% on Monday, in the first trading session since President Donald Trump announced new import tariffs last week. Amid market chaos, Taiwan’s chief financial regulator stated that temporary restrictions on short-selling would be implemented throughout the week to prevent further instability caused by the tariffs.

Taiwan’s stocks dived 9.8 percent on Monday, as traders reacted to US President Donald Trump’s sweeping tariffs that triggered a massive selloff on world markets last week.

The Taiex, the weighted index on the Taiwan Stock Exchange, plunged 9.8 percent at the open, as trading resumed following a long weekend.

Taipei had sought to avoid Trump’s threatened tariffs by pledging increased investment in the United States and more purchases of US energy, but it was still hit by a 32 percent tax on its imports, excluding semiconductor chips.

Taiwanese President Lai Ching-te said Sunday the government did not plan to impose “retaliatory tariffs" on products from the United States, the island’s most important security backer. Instead, the government is seeking to strike a deal with Washington for zero tariffs, and has earmarked $2.7 billion to help domestic industries affected by the new tax.

Taiwan’s trade surplus with the United States is the seventh highest of any country, reaching $73.9 billion in 2024. Around 60 percent of Taiwan’s exports to the United States are ICT, which includes chips.

Vietnam

Vietnam, a manufacturing powerhouse that had the United States as its largest market last year, faced a hefty 46 percent tariff due to Trump’s global trade measures. Last week, US President Donald Trump mentioned that Vietnam’s top leader expressed interest in negotiating on tariffs during a “very productive" call on Friday, following the imposition of significant levies on the Southeast Asian nation.

“Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the US," Trump said on Truth Social.

During Trump’s first term, Vietnam leveraged its strategic location and affordable skilled workforce to establish itself as an alternative manufacturing hub to China amidst the trade conflict between Beijing and Washington. This led many companies to relocate parts of their supply chain, resulting in Vietnam’s trade surplus with the United States doubling from 2017 to 2023. However, major brands like Nike, which produced 50 percent of its footwear and 28 percent of its apparel in Vietnam in the 2024 financial year, are now facing significantly higher costs, which they must either absorb or transfer to customers. On Friday, the Vietnamese stock market continued its decline, with the VN-Index nearing the 1,210-point mark due to increased selling pressure and ongoing foreign outflows. The VN30-Index, which tracks the 30 largest listed companies by market capitalization, dipped 2.66 points, or 0.21 percent, to 1,280.52 points. The Vietnamese stock market is closed today, April 7, 2025, in observance of the Hung Kings’ Festival, a national public holiday.

European Union

European Union trade chief Maros Sefcovic said EU ministers will Monday weigh their response to a “paradigm shift" in international trade. “What we are going to discuss is how to position Europe in what I would describe as the paradigm shift of the global trading system," Sefcovic told reporters ahead of a meeting in Luxembourg.

After the 20 percent tariffs on EU exports to the United States, EU chief Ursula von der Leyen had said Brussels was “preparing for further countermeasures" but added it was “not too late to address concerns through negotiations".

Germany’s economy minister said the EU is in a ‘strong position to respond to US tariffs’.

UK

The FTSE 100 index of blue-chip stocks has plunged by 488 points, or 6%, taking the index down to 7566 points, its lowest level since February 2024.

UK Prime Minister Keir Starmer said “there would be an economic impact" from a 10 percent tariff imposed on British exports to the United States.

“Today, I will act in Britain’s interests with mine," said Starmer, adding that trade negotiations would continue with Donald Trump’s administration and that “we will fight for the best deal for Britain".

The UK will “remain calm, and committed" to sealing a trade deal with the United States which could help “mitigate" the tarriff rise, business minister Jonathan Reynolds said.

France

The French CAC was down 6% and the FTSE declined by 5.2%. French President Emmanuel Macron has called for a suspension of investment in the United States until Donald Trump’s “brutal and unfounded" new tariffs against Europe and the rest of the world were clarified.

“What would be the message if big European actors invest billions of euros in the US economy at the very moment they are hitting us?" Macron asked at a meeting of French companies.

Macron said Americans will be “weaker and poorer" after Trump’s tariff announcement, which he said would have a “massive impact" on the European economy.

Germany

Germany’s leading stock market index, the DAX, plummeted by around 10% at the start of trading on Monday, falling to 18,489 points as investors continue to react to the sweeping global tariffs imposed by the Trump administration.

New blanket 10% duties on all imports to the United States came into effect on Saturday, with additional levies on a host of trading partners due to be imposed on Wednesday, including a 20% tariff on imports from the European Union.

German Chancellor Olaf Scholz slammed the tariffs as “fundamentally wrong" as Berlin warned that the European Union could retaliate by targeting American tech titans.

“This is an attack on a trade order that has created prosperity all over the globe, a trade order that is essentially the result of American efforts," Scholz said.

Indonesia

Indonesia’s central bank said Monday it would “intervene aggressively" in the domestic market to defend its currency hit by US President Donald Trump’s sweeping tariffs.

Trading is set to resume Tuesday for the first time since Trump last week imposed levies on friends and foes alike, rattling stock markets and alarming governments around the world. Indonesian markets have been closed since March 28 for public holidays, with the rupiah falling to its lowest level against the US dollar since the late 1990s Asian financial crisis.

Trump’s “Liberation Day" announcement saw the archipelago nation hit with an additional 32 percent levy on its goods, higher than the baseline 10 percent for all countries and more than Southeast Asian neighbours Malaysia, Singapore and the Philippines.

President Prabowo Subianto said on Monday the country would negotiate with Washington to ask for a better deal.

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The United States is one of Indonesia’s top trading partners, and Jakarta enjoyed a $16.8 billion trade surplus with Washington last year, according to Indonesian government data.

(With inputs from agencies)

First Published: April 07, 2025, 15:00 IST

Global stock markets plummeted after China imposed retaliatory tariffs following President Trump's 54% duty on Chinese imports. Hong Kong, Frankfurt, Taipei, and Tokyo saw significant losses

How Countries Are Responding To Trump's Tariffs As Global Markets Plunge?

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, top right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul on April 7. (AP Photo)

BANGKOK--Asian shares nosedived on Monday after the meltdown Friday on Wall Street over U.S. President Donald Trump's tariff hikes and the backlash from Beijing.

U.S. futures also signaled further weakness. The future for the S&P 500 lost 4.2% while that for the Dow Jones Industrial Average shed 3.5%. The future for the Nasdaq lost 5.3%.

Tokyo’s Nikkei 225 index lost nearly 8% shortly after the market opened. An hour later it was down 7.1% at 31,375.71.

South Korea's Kospi lost 5.5% to 2,328.52, while Australia’s S&P/ASX 200 tumbled 6.3% to 7,184.70.

Oil prices sank further, with U.S. benchmark crude down 4%, or $2.50, at $59.49 per barrel. Brent crude, the international standard, gave up $2.25 to $63.33 a barrel.

Currencies also saw big moves.

The U.S. dollar fell to 145.98 Japanese yen from 146.94 yen. The yen is often viewed as a safe haven in times of turmoil. The euro rose to $1.0967 from $1.0962.

On Friday, Wall Street’s worst crisis since COVID slammed into a higher gear. The S&P 500 plummeted 6% and the Dow plunged 5.5%. The Nasdaq composite dropped 5.8%.

The losses came after China matched President Donald Trump’s big raise in tariffs announced last week, upping the stakes in a trade war that could end with a recession that hurts everyone. Even a better-than-expected report on the U.S. job market, usually the economic highlight of each month, wasn't enough to stop the slide.

So far there have been few, if any, winners in financial markets from the trade war. Stocks for all but 14 of the 500 companies within the S&P 500 index fell Friday.

China’s response to U.S. tariffs caused an immediate acceleration of losses in markets worldwide. The Commerce Ministry in Beijing said it would respond to the 34% tariffs imposed by the U.S. on imports from China with its own 34% tariff on imports of all U.S. products beginning April 10, among other measures.

The United States and China are the world’s two largest economies.

The central question looking ahead is: Will the trade war cause a global recession? If it does, stock prices may need to come down even more than they have already. The S&P 500 is down 17.4% from its record set in February.

Trump seemed unfazed. From Mar-a-Lago, his private club in Florida, he headed to his golf course a few miles away after writing on social media that “THIS IS A GREAT TIME TO GET RICH.”

The Federal Reserve could cushion the blow of tariffs on the economy by cutting interest rates, which can encourage companies and households to borrow and spend. But the Fed may have less freedom to move than it would like.

Fed Chair Jerome Powell said Friday that tariffs could drive up expectations for inflation and lower rates could fuel still more price increases.

“Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem,” Powell said.

Much will depend on how long Trump’s tariffs stick and what kind of retaliations other countries deliver. Some of Wall Street is holding onto hope that Trump will lower the tariffs after prying “wins” from other countries following negotiations.

Trump has said Americans may feel “some pain” because of tariffs, but he has also said the long-term goals, including getting more manufacturing jobs back to the United States, are worth it.

On Wall Street, stocks of companies that do lots of business in China fell to some of the sharpest losses.

DuPont dropped 12.7% after China said its regulators are launching an anti-trust investigation into DuPont China group, a subsidiary of the chemical giant. It’s one of several measures targeting American companies and in retaliation for the U.S. tariffs.

GE Healthcare got 12% of its revenue last year from the China region, and it fell 16%.

In the bond market, Treasury yields fell, but they pared their drops following Powell’s cautious statements about inflation. The yield on the 10-year Treasury fell to 4.01% from 4.06% late Thursday and from roughly 4.80% early this year. It had gone below 3.90% in the morning.

BANGKOK--Asian shares nosedived on Monday after the meltdown Friday on Wall Street over U.S. President Donald Trump's tariff hikes and the backlash from Beijing.

Asian markets plunge with Japan’s Nikkei diving nearly 8% after the big meltdown on Wall St

Updated 07 Apr, 2025 Going dry Authorities should refrain from undertaking any water scheme that infringes on rights of any federating unit to avoid more controversies.

07 Apr, 2025 Afghan return AS expected, the government of Pakistan is moving ahead with its plan to forcibly repatriate Afghan Citizenship Card...

07 Apr, 2025 Hurting women MONTH after month, the figures of crimes against women in the country indicate that our society is close to...

Updated 06 Apr, 2025 Not cricket It is high time that the PCB sets things right; even if it demands a complete overhaul of the system.

Updated 06 Apr, 2025 Balochistan deadlock Akhtar Mengal’s demands to release women activists should seriously be considered.

Cartoon: 7 April, 2025

The Chinese yuan has come under renewed pressure against the U.S. dollar in both offshore and onshore markets, as trade tensions between Washington and Beijing intensify. But despite the currency’s recent weakness, Mizuho Securities says the People’s Bank of China (PBOC) is unlikely to tolerate a sharp depreciation.

Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho in Singapore, said China’s decision to impose 34% retaliatory tariffs on U.S. goods—along with export restrictions on certain rare-earth elements—signals a notable hardening of Beijing’s stance.

“This marks a clear escalation in U.S.-China trade antagonism,” Varathan noted, adding that the yuan may be allowed to weaken moderately to help cushion the economic blow. “A more strident stance on tariffs could align with some depreciation in the CNH to absorb shocks,” he said.

However, Varathan stressed that financial stability remains a top priority for Chinese authorities. “The PBOC will not desire or pursue a sharp depreciation, as it risks undermining capital market confidence,” he said.

The remarks come amid growing scrutiny over how China will navigate external pressure without destabilising domestic financial conditions.

There has been intense speculation about a devaluation from the PBOC, but we've yet to see it like. Mizuho says its not going to happen.

Mizuho: PBOC unlikely to allow sharp yuan depreciation despite rising trade tensions

KUALA LUMPUR: Malaysia will not face a recession despite being hit by United States President Donald Trump’s new tariffs, according to Prime Minister Anwar Ibrahim.

“For now, let me reassure you that the government does not foresee a recession in Malaysia,” Anwar said in a nine-minute video addressing the US tariffs posted on his social media accounts on Sunday (Apr 6).

However, the Malaysian prime minister said he considers the recently announced tariffs a “major threat” to the current global trade and investment system.

From Apr 5, every Malaysian product shipped to the US will face at least a 10 per cent duty and from Apr 9, most products will face a 24 per cent rate, with some exemptions.

Anwar, who is also Finance Minister, emphasised that his government will not introduce retaliatory tariffs and that Malaysia’s macroeconomic foundations remain strong, including its “robust household spending, strong domestic investment (and) healthy tourism receipts”.

“We will of course be able to weather this challenge from a position of strength and preparedness,” he said.

He also said that, if the 24 per cent tariff were implemented, the economic growth forecast of 4.5 per cent to 5.5 per cent for this year would need to be reviewed.

Malaysia, as the chair of the Association of Southeast Asian Nations (ASEAN), is also coordinating a response with other regional leaders “to engage constructively” with the United States as ASEAN countries are among the hardest hit by the sweeping tariffs, Anwar said.

The Malaysian PM acknowledged that the economic growth forecast of 4.5 per cent to 5.5 per cent for this year would need to be reviewed in light of the tariffs which would hit many of the country’s exports.

Trump tariffs: Anwar says no recession expected for Malaysia, ASEAN to coordinate united trade response

Alexander Ovechkin, then an NHL prospect, wore his Moscow Dynamo jersey to this U.S.-Canada baseball game in Durham, N.C., in 2004. Two days later, the Washington Capitals drafted him, beginning an NHL career that continues today.

Alexander Ovechkin, then an NHL prospect, wore his Moscow Dynamo jersey to this U.S.-Canada baseball game in Durham, N.C., in 2004. Two days later, the Washington Capitals drafted him, beginning an NHL career that continues today.

Ovechkin surpassing Gretzky’s record would ordinarily be a feat worth cheering about. But the Russian hockey star’s politics and ties with Putin are hard to ignore

It was a cold January night at Moscow’s famed Luzhniki Palace of Sports, just 21 years ago but in a completely different world.

George W. Bush was in the White House. He had just looked into the eyes of Russia’s new President, Vladimir Putin. Afterward, Mr. Bush infamously said he’d seen into Mr. Putin’s soul and decided this was someone he could trust.

On the ice that night, an 18-year-old kid wearing the blue-and-white jersey of Moscow Dynamo grabbed a loose puck in the neutral zone and accelerated across the blue line as the opposing defencemen scrambled backward. After a series of fakes, he fired a snapshot from the high slot past the Yaroslavl Lokomotiv goaltender, breaking what had been a scoreless tie, then dove and jubilantly slid on his knees back toward his teammates. It proved to be the game-winning goal.

Open this photo in gallery: Reporter Mark MacKinnon interviews Alexander Ovechkin, then 18-years-old and playing for Moscow Dynamo, at the Luzhniki Palace of Sports in Moscow in January, 2004.Guy Nicholson/Supplied

After the game, the kid wearing No. 32 for Moscow Dynamo – who would later become famous wearing No. 8 for the Washington Capitals – chatted politely with a Canadian reporter about the buzz that he was likely to be chosen first overall in that summer’s NHL draft.

Alexander Ovechkin breaks Wayne Gretzky’s all-time NHL goals record

Wearing a black tuque and a black Nike jacket, his cheeks red with acne, Alexander Ovechkin was such a fixture at Luzhniki – he’d come up through Dynamo’s youth hockey program – that even security staff at the rink called out to him by his nickname, “Sasha.”

He has since gone on to NHL superstardom, scoring his 895th career goal on Sunday to set the new all-time record, surpassing Wayne Gretzky.

Open this photo in gallery: Ovechkin and Wayne Gretzky were in Vancouver together for the NHL draft in 2006, when the latter was Phoenix's head coach. Two decades later, Ovechkin would be within reach of the Great One’s all-time record.Jeff Vinnick/Getty Images

If the world had remained the way it was in 2004, the game when the Great Eight passed the Great One would have been a moment to celebrate the unifying power of sport. The shy kid from Moscow, who was born in the Soviet Union but grew up in an independent, democratizing Russia, eclipsing the shy kid from Brantford, Ont. The memories of all those heated Canada-vs-USSR games – Bobby Clarke’s 1972 slash to Valeri Kharlamov’s ankle, the 1987 line brawl at the world junior championship – would have faded a little more as we cheered the passing of the torch.

But history has gone otherwise, tainting first Mr. Ovechkin and then Mr. Gretzky as it moved.

Ovechkin’s pursuit of Gretzky has affirmed hockey and politics as uncomfortable bedfellows

Mr. Putin, who was briefly seen as someone who could reform and strengthen Russia’s young democracy, instead crushed his domestic opposition, preparing the ground for a series of wars, including the full-scale invasion of Ukraine in 2022.

Meanwhile, Mr. Bush’s 2003 invasion of Iraq set the United States on its own increasingly angry path that has culminated with the re-election of Donald Trump, a President who speaks admiringly of Mr. Putin and muses about annexing Canada the way Russia has illegally seized parts of Ukraine.

For Ovechkin, 2022 ended in triumph as his all-time tally of goals surpassed 800. In Ukraine, it was a year of bloodshed as the country fought to repel a Russian invasion that continues today. Kostiantyn Liberov, Charles Rex Arbogast and Carolyn Kaster/AP

When Ovechkin and Team Russia won 2014’s IIHF World Championship, they got a warm reception from President Vladimir Putin at the Kremlin. Two months earlier, the annexation of Crimea gave pro-Russian demonstrators in Simferopol a reason to cheer, while Mr. Putin’s standing in the West hit a low point. Yuri Kadobnov and Shamil Zhumatov/Reuters

Ovechkin’s debut year with the Capitals was another pivot point in Ukrainian and Russian history. In the Orange Revolution, supporters of a pro-European presidential candidate challenged an election widely believed to be rigged by his pro-Russian rival. The eastward expansion of NATO also formed the geopolitical landscape where the war in Ukraine is now playing out. Petar Kujundzic/Reuters; Pablo Martinez Monsivais/AP

The Ovechkin I met in January, 2004, was obliging and humble, not unlike how Mr. Gretzky came across when he first aw-shucksed himself into the hearts of Canadians a few decades earlier.

“I don’t want to think about it right now – I just want to help Dynamo make it to the playoffs,” Mr. Ovechkin said via a translator when I asked him if he cared which team ended up drafting him. “When it’s draft time, I’ll think about it.”

He was shy and soft-spoken, the opposite of his already flamboyant on-ice personality – and nothing like the fun-loving face of the NHL he would become.

Mr. Ovechkin seemed to know little about the outside world, and nothing about any of Pittsburgh, Chicago, Columbus or Washington, the four teams that were front-runners to pick No. 1 that summer. (The Capitals had the third-best odds of picking first in the 2004 draft, but leapfrogged Pittsburgh and Chicago in the lottery.)

He told me that he had no favourite NHL team. Mr. Ovechkin’s hockey heroes, he made clear, were the stars of the Russian and Soviet hockey systems, not the NHL pantheon headed by Mr. Gretzky. He named Alexander Maltsev, a slick Moscow Dynamo forward who won two Olympic gold medals for the USSR, as his icon.

That patriotism, perhaps, provided a hint of what was to come.

Open this photo in gallery: Ovechkin counts Alexander Maltsev, left, among his heroes. He played for the Soviets in the 1972 Summit Series, where Dennis Hull, middle, Phil Esposito, right, were on Team Canada.Grigory Dukor/Reuters

Open this photo in gallery: Ovechkin’s Instagram profile features a photo of him with Putin.

Mr. Ovechkin’s legacy, in the eyes of many, will be tainted by the fact that he appears to have a close personal relationship with Mr. Putin, who is an avid hockey player and fan. Infamously, Mr. Ovechkin’s profile picture on Instagram is a photo of him standing in the Grand Kremlin Palace beside the Russian leader.

That choice of avatar has caused Mr. Ovechkin endless grief since the start of the invasion of Ukraine, but it still remains the first image you see when you visit his page.

It’s not a one-off, either. Mr. Ovechkin, who captained Russia’s 2014 world championship team, caused ripples by immediately presenting Mr. Putin with the trophy – just two months after the Russian leader had seized and illegally annexed Crimea from Ukraine. Three years later, Mr. Putin called Mr. Ovechkin to congratulate him on his wedding.

While Mr. Ovechkin’s defenders say he has no choice but to be publicly deferential to the dictator for his family’s sake, that rings hollow to the tens of thousands of Ukrainians, Georgians, Chechens, Syrians – and Russians – who have died fighting in Mr. Putin’s wars.

On the day after the invasion of Ukraine began – as missiles were raining down on Kyiv and other cities, and Russian troops and tanks were pouring over the border – Mr. Ovechkin simultaneously claimed he was not involved in politics, while also making his politics perfectly clear.

“Well, he’s my President,” he said, when asked whether he still supported Mr. Putin. “Like, I am Russian, right?”

Gretzky, whose statue in Edmonton celebrates his achievements with the Oilers, has rankled Canadian fans due to his ties with U.S. President Donald Trump. Gretzky and his wife, Janet, came to January’s inauguration as guests inside the Capitol Rotunda, not at the Canadian embassy. Amber Bracken/The Globe and Mail; Kenny Holston/Reuters; Kevin Lamarque/AP

Mr. Gretzky’s own awkward politics, meanwhile, have managed to mar Canada’s five-decade love affair with him.

The legend that every Canadian hockey fan knows – the kid who started out firing a tennis ball at his grandmother’s legs while she played goaltender in her chair, who stayed out late every night on his backyard rink and became the greatest scorer the NHL had ever seen – now has a tawdry epilogue. Mr. Gretzky went from captaining the national team at the 1987 Canada Cup to becoming the focus of nationwide ire after the now-dual national wore a blue business suit, rather than Team Canada gear, while serving as honorary captain for the final game of this year’s patriotically charged 4 Nations Face-Off.

Mr. Gretzky’s friendship with Mr. Trump – who has floated the idea of Mr. Gretzky serving as “governor” of Canada after it becomes the 51st state – has cost him his saintly status even in Edmonton, where he set many of his records. Last month, the city’s statue of Mr. Gretzky hoisting the Stanley Cup was smeared with feces.

Mr. Gretzky was in New York to congratulate Mr. Ovechkin after his record-breaking goal, just as Gordie Howe and Phil Esposito used to follow him around when he was breaking the records they had set. Unlike those iconic moments, in simpler times, there were likely some watching who jeered Mr. Ovechkin, Mr. Gretzky or both.

If a Canadian team had been involved in Sunday’s games, national anthems might also have been booed, reflecting the dark geopolitical era in which the kid from Moscow surpassed the kid from Brantford as the top goal-scorer in NHL history.

It could have been, should have been, a great moment. If only all that other stuff hadn’t happened, too.

The Russian hockey star’s ties with Putin – and the Great One’s warmth with Washington – make his goal-scoring acumen hard to celebrate

Ovechkin can overcome Gretzky’s record, but not his own past or his politics

Open this photo in gallery: Alex Ovechkin of the Washington Capitals celebrates after scoring his 895th career goal during the second period against the New York Islanders at UBS Arena on April 6 in Elmont, New York.Sarah Stier/Getty Images

In the end, the NHL got the classic Alex Ovechkin moment it was hoping for. A snap shot from the top of the circle that was in the net before Islanders goalie Ilya Sorokin could be sure it had left the stick.

After notching goal No. 895 on Sunday afternoon, Ovechkin turned and launched himself spread-eagle on his belly down the ice. Put it in the replay vault beside Bobby Orr in mid-air, Wayne Gretzky hopping foot to foot and Sidney Crosby in his postgold crouch. That’s what this chase has been about – a single, indelible image.

Ovechkin always had two superpowers – his shot and his ease. No player in history ever seemed more comfortable in his own skin.

After he broke Gretzky’s all-time goals mark in the second period, they stopped the game and did a ceremony that included everything short of a parade.

When Ovechkin got the mic, he began circling centre ice like an MC. For the first time that you could remember, he seemed a little nervous.

Open this photo in gallery: Alex Ovechkin celebrates with teammates after scoring his 895th career goa. Ovechkin's goal passes Wayne Gretzky's 894 goals to become the NHL all-time goal-scoring leader.Sarah Stier/Getty Images

“Thank you, Ilya Sorokin, for letting me score 895,” Ovechkin said. Sadly, there was no reaction shot from Sorokin, who’ll never live this one down back in Mezhdurechensk.

Ovechkin went on, but kept coming back to Gretzky. Even bested, the Oiler great has more gravity than any of hockey’s other celestial bodies.

These endless proceedings had all the things hockey people love – moms, wives, kids, guys with black eyes getting emotional. Because it is so violent, no sport is keener to seem gentle once the play is whistled dead. Tears are as vital to hockey as blood. The TNT broadcast laid it on with a trowel.

Ovechkin was the only one who seemed to have skipped the production meeting. Maybe he’s too Russian to emote. So that was left to Gretzky.

If you’ve watched the past couple of Capitals games, it may have occurred to you that the star of the show wasn’t the guy scoring the goals. It was his 64-year-old wingman.

Gretzky was there in the postgame, answering questions like he’s still playing. And in the pregame. And in between periods.

He had dad stories, dad jokes and dad memories. He seemed to have memorized multiple speeches. He made sure Janet bought something nice for Ovechkin’s wife, Nastya, because Colleen Howe once got his family something. Wars have been less meticulously planned.

Open this photo in gallery: Alex Ovechkin's wife Anastasia Shubskaya is presented with an 8 diamond ring from Janet Jones, wife of Wayne Gretzky.Geoff Burke/Reuters

It’s not hard to figure out the why. It was Ovechkin’s show, but it was Gretzky’s redemption tour. Having been hammered back home during the 4 Nations tournament, Gretzky needed to reassert his place as guardian of the game’s institutional memory.

It started well. When he came out with Gary Bettman after Ovechkin’s goal, the NHL commissioner was booed, but he was cheered. He softened the Islander crowd up with a Nassau Coliseum joke and a reference to “Mr. Arbour.”

Gretzky’s speech honouring Ovechkin was more of a statement of principle. Once again, he invoked hockey’s most revered saint – his dad, Walter.

“There’s nothing better than the National Hockey League,” Gretzky said. “It’s the greatest game in the world.”

This was the Gretzky people remember, or want to. The sentimentalist; the small-town guy who never changed. When he hugged Ovechkin, you remarked on how slight he seemed. Whatever swagger Gretzky once had (he was always careful never to show too much of it) is gone.

It’s not the done thing in America, but this is exactly how you ingratiate yourself with Canadians. You get small, stay humble and say “gosh” a lot.

Since no American who isn’t a season-ticket holder was watching hockey on a Sunday afternoon, one assumes Canada was the intended audience.

It was a good show in that regard. Convincing. It would have been even better if the politics of the moment were not on display, even here.

For the past two games, Gretzky was pictured sitting with Donald Trump hatchet man and FBI director Kash Patel. Why is the head of the FBI travelling for hockey games? Shouldn’t he be figuring out who to black bag next? Bettman sat on his other side.

So you have the representative of a New York-based, Hollywood-adjacent billion-dollar entertainment concern and the insideriest of D.C. insiders, connected by a man whom the current U.S. President calls “the greatest Canadian of them all.”

It’s a decent premise for a paranoid thriller, though it probably wouldn’t be paranoid enough.

Last week in Toronto, Bettman nodded at the problems the NHL faces in the tariff-driven Great Depression to come.

“I hope that what we’re seeing is a moment in time and that we can get back to a normal reality,” Bettman said. “I have concerns from a business standpoint.”

In other words, if the U.S. shafts Canada, the NHL is pooched.

Who better to mediate this relationship than Gretzky? And how better to do it than in the midst of something Americans love – a big, flashy show?

So while Ovechkin provided the entertainment, Gretzky was the host. He had more than one constituency to reach, and did his best to satisfy them all.

He was back in the booth in the third period, taking something more than a paternal interest.

“I was really happy for him,” Gretzky said. “I felt like I scored the goal. Does that make sense?”

No, but everyone laughed.

He talked about his parents again, and the Howes, and how everything comes full circle.

“There’s nothing wrong with our game,” Gretzky said, apropos of nothing. “Our game is in a great position. … It’s amazing. Good for us.”

If you’ve watched the past couple of Capitals games, it may have occurred to you that the star of the show wasn’t the guy scoring the goals. It was his 64-year-old wingman

Ovechkin’s pursuit of NHL record was his time to shine, but Gretzky’s redemption tour

A good Sunday to all. Thank you very much", the 88-year old pope said as he was wheeled through Saint Peter's Square in his wheelchair after a mass dedicated to the sick.

Surrounded by a mass of smartphones and cameras, and attached to nasal breathing tubes, his voice was fragile but more audible than when he left the Gemelli hospital on March 23. The Argentine's last public appearance was on February 14.

Francis is, in theory, undergoing two months of convalescence following his life-threatening health scare, with strict rest, no public activity and no contact with crowds.

Yet the Jesuit spent Sunday morning blessing the masses gathered on the sunny square, in an encouraging signal for his health two weeks before Christians the world over celebrate Easter.

His eagerness to reach out to the flock however comes against the advice of his doctors, who have urged him to avoid meeting groups of people to limit the risk of infection.

"He's doing better, that's clear, and he wants that to be seen," a Vatican source told AFP on condition of anonymity.

"He's not yet well enough to deliver a message, but well enough to make a gesture... and show up," the source added.

- Blessed be the doctors -

According to his doctors Francis almost died twice suring his time in hospital, the longest and most fraught of his 12 years as head of the Church.

His physical state has sparked speculation the pontiff might hang up his papal crook after the example of his predecessor Benedict XVI, who quit in 2013 citing his declining mental and physical health.

A few minutes before his surprise appearance the leader of the globe's 1.4 billion Catholics received the sacrament in St Peter's Cathedral, the Vatican said in a statement on Telegram.

As in previous weeks Francis did not read out the customary Angelus prayer, which was published in written form instead.

"I pray for the doctors, the nurses and the healthcare workers, who are not always helped to work in adequate conditions and who are even, sometimes, victims of attacks," the pontiff wrote.

"Their mission is not easy and must be supported and respected."

His message went on to offer a prayer for an end to the world's conflicts, mentioning in turn Ukraine, Sudan, neighbouring South Sudan, the Democratic Republic of Congo, quake-hit Myanmar and Haiti.

- Pray for Gaza -

Francis likewise prayed for the Middle East and especially Gaza, where Israel last week again launched a ground offensive against Palestinian militant group Hamas.

In the Palestinian territory "people are forced to live in unimaginable conditions, without shelter, without food, without drinkable water," the pope said.

"Let the weapons fall silent and dialogue begin again", he added, calling for the freeing of the hostages held by Hamas since its October 7, 2023 attack that began the war.

Francis, who had part of his lung removed as a young man, has suffered a series of health woes in recent years.

While being assisted his recovery by healthcare workers night and day at his Vatican residence, Francis has not seen any visitors beyond his closest colleagues since his release from the Gemelli Hospital.

Yet he has taken up his papal duties again, notably in editing and putting his signature to documents, according to the Holy See.

He has, however, been forced to reduce his usual frenetic schedule, and the scale of his involvement in the religious events leading up to Easter -- the holiest period in the Christian calendar -- is so far unclear.

Pope Francis made a surprise Sunday public appearance as he mingled with crowds at the Vatican just two weeks after leaving hospital for a serious

Recovering Pope surprises crowd at Vatican square

Ed Chamberlin was full of praise for Willie Mullins after the Grand National

ITV presenter Ed Chamberlin has thanked Willie Mullins for successfully making his 'wish' come true at the Grand National. The legendary Irishman trained all of the top-three finishers, with Nick Rockett securing a famous victory ahead of I Am Maximus and Grangeclare West. Remarkably, his son Patrick was aboard the winning horse. Nick Rockett's owner, Stewart Andrew, was overcome with emotion after watching the gelding win the world's most famous race. His wife Sadie sadly died from cancer in 2022, just five days after watching Nick Rockett in his first outing. Chamberlin, who fronted ITV's live coverage, was left in awe of the heartwarming stories the race provided. Writing in his Daily Mail column, he thanked Mullins for giving the public 'something romantic' that would not be found in any other sport.

Patrick Mullins rode Nick Rockett to a sensational victory at Aintree

"Well, I got my wish," wrote Chamberlin. "I asked on Friday night for a story from the Randox Grand National, for something romantic with which the public could connect. How we got that. "Willie Mullins may have secured his third Aintree triumph and his three incredible days have put him on the brink of becoming Britain’s Champion Trainer once again, but what we saw in the world’s greatest race was so much more than facts and figures. "To be with Stewart Andrew afterwards was to be reminded about what horses can do for humans. Stewart lost his wife, Sadie, in 2022 shortly after she had asked Willie to buy Nick Rockett for them to enjoy. "Tragically, they never got to do it, but a Rockett was sent to heaven when Patrick Mullins hurtled past the winning post. Stewart loves talking about Sadie’s memory and how the gelding has helped fill the void in his life.

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Ed Chamberlin was left in awe of Willie Mullins after the Grand National.

Grand National 'wish granted' as ITV host Ed Chamberlin speaks out on Willie Mullins win

London [UK], April 6 (ANI): United Kingdom Foreign Secretary David Lammy on Saturday expressed concerns over the detention and refusal of entry of two British MPs on a parliamentary delegation to Israel, calling it "unacceptable" and "counterproductive."

Lammy further emphasised the UK government's commitment to supporting the MPs and reiterated its focus on achieving a ceasefire and engaging in negotiations to "stop the bloodshed, free the hostages and end the conflict in Gaza."

"It is unacceptable, counterproductive, and deeply concerning that two British MPs on a parliamentary delegation to Israel have been detained and refused entry by the Israeli authorities. I have made clear to my counterparts in the Israeli government that this is no way to treat British Parliamentarians, and we have been in contact with both MPs tonight to offer our support," the UK government quoted Lammy in a statement.

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"The UK government's focus remains securing a return to the ceasefire and negotiations to stop the bloodshed, free the hostages and end the conflict in Gaza," the statement added.

Notably, two British parliament members who support anti-Israel policies were denied entry to Israel today, Times of Israel reported, citing the country's Population and Immigration Authority.

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The Labour Party MPs, Abtisam Mohamed and Yuan Yang, were barred entry after questioning revealed that the purpose of their visit was "to document Israeli security forces and spread hateful rhetoric against Israel," the population authority in a statement said.

During their interrogation, the two MPs claimed that they had arrived as part of an official UK parliamentary delegation. However, this claim was disproven as no Israeli authority had confirmed the arrival of such a delegation.

Interior Minister Moshe Arbel, therefore, decided to deny entry to all four individuals "in accordance with the law and ordered their removal from Israel," the population authority said, Times of Israel reported. (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)

United Kingdom Foreign Secretary David Lammy on Saturday expressed concerns over the detention and refusal of entry of two British MPs on a parliamentary delegation to Israel, calling it 'unacceptable' and 'counterproductive.'

UK Foreign Secretary David Lammy calls Israeli detention of two MPs "unacceptable, counterproductive"

‘Hands Off’ Protests In US: Thousands Take To Streets Across 50 States Against Trump, Musk’s Policies

Curated By :

News18.com

Last Updated: April 06, 2025, 07:38 IST

Thousands of protesters gathered on the streets across all states in the US and demonstrated against the policies of Trump and Musk on Saturday.

Hands Off protests in the US (AP Image)

Thousands of protesters took to the streets across all 50 states of the US on Saturday against President Donald Trump’s administration and its policies. The agitation was named ‘Hands Off’ protests.

This was the largest protest since Trump took office on January 20 this year for his second term – with demonstrations held at over 1,200 locations in the country.

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Over 150 groups, including LGBTQ+ advocates, civil rights organisations, labour unions, election activists, and veterans, participated in the protests.

What Is Hands Off Protest In USA?

The Hands Off protests are a chain of demonstrations held against Trump’s policies, such as mass deportations of illegal immigrants, federal layoffs, and other moves.

#WATCH | Washington DC | Large number of protesters hold demonstrations against the Trump administration’s policies and executive orders. pic.twitter.com/pGFalhxhnu— ANI (@ANI) April 6, 2025

Protesters say that Donald Trump and Elon Musk are using things that aren’t rightfully theirs, and they’re calling on the world to take action. Some of the things they said they are fighting against include shrinking government services, cutting healthcare programmes, and limiting rights for transgender people.

The demonstrators were also against the treatment of immigrants in the US and their mass deportations.

Protests Across The USA

In Seattle, protesters held signs with messages like “Fight the oligarchy" and showed anger over the government’s actions to fire federal workers and take away protections from vulnerable groups.

Elon Musk, President Trump’s advisor and the head of the Department of Government Efficiency, has faced criticism throughout his nearly 3-month tenure in the administration that he has been prioritising corporate interests over those of the Americans.

In Atlanta, placards reading “Impeach Trump, Deport Musk" were also put up by the protesters.

In Boston, the protesters held placards reading “Hands off our democracy" and “Hands off our Social Security" and protested against cuts to Social Security.

Mayor Michelle Wu said that she did not want her children to grow up in a world where divisive tactics by the government became the new norm.

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The White House responded to the protests and said that President Trump is committed to protecting Medicaid, Medicare and Social Security. It also claimed that the stance of the Democratic Party on such programmes was causing serious money problems.

Saturday’s protest was another in a series of rallies held across the country against Trump and Musk since Trump came back to the White House. But this one was different — it was the first major protest of its size since the Women’s March in 2017 and the Black Lives Matter protests in 2020.

Location : Washington D.C., United States of America (USA)

First Published: April 06, 2025, 07:06 IST

Thousands of protesters gathered on the streets across all states in the US and demonstrated against the policies of Trump and Musk on Saturday.

‘Hands Off’ Protests In US: Thousands Take To Streets Across 50 States Against Trump, Musk’s Policies

Phone video from one of 15 Palestinian medics killed by Israeli forces last month appears to contradict Israeli claims that the medics’ vehicles did not have emergency signals on when troops opened fire on them in southern Gaza.

The footage shows the Red Crescent and Civil Defence teams driving slowly with their emergency vehicles’ lights flashing, logos visible, as they pulled up to help an ambulance that had come under fire earlier. The teams do not appear to be acting unusually or in a threatening manner as three medics emerge and head toward the stricken ambulance.

Their vehicles immediately come under a barrage of gunfire, which goes on for more than five minutes with brief pauses. The owner of the phone can be heard praying.

The Hindu’s coverage of the war in Gaza

“Forgive me, mother. This is the path I chose, mother, to help people,” he cries, his voice weak.

Eight Red Crescent personnel, six Civil Defence workers and a U.N. staffer were killed in the shooting before dawn on March 23 by Israeli troops conducting operations in Tel al-Sultan, a district of the southern Gaza city of Rafah. Troops then bulldozed over the bodies along with their mangled vehicles, burying them in a mass grave. U.N. and rescue workers were only able to reach the site a week later to dig out the bodies.

The Palestinian Red Crescent Society’s vice president, Marwan Jilani, said the phone with the footage was found in the pocket of one of its slain staffers. The Palestinian ambassador to the United Nations distributed the video to the U.N. Security Council. The Associated Press obtained the video from a U.N. diplomat on condition of anonymity because it has not been made public.

One paramedic who survived, Munzer Abed, confirmed the veracity of the video to the AP. Two block-shaped concrete structures visible in the video are also seen in a U.N. video released Sunday showing the recovery of the bodies from the site — a sign they are in the same location.

Asked about the video, the Israeli military said Saturday that the incident was “under thorough examination.”

Also Read | Trump and Netanyahu will meet again on Gaza, tariffs and more

The Israeli military earlier said it opened fire on the vehicles because they were “advancing suspiciously” on nearby troops without headlights or emergency signals.

The initial account of the vehicles not having emergency lights on was mistaken, an Israeli military official told journalists Saturday evening. The official spoke on condition of anonymity in line with regulations.

The head of the Palestinian Red Crescent Society, Younes Al-Khatib, called for an independent investigation. “We don’t trust any of the army investigations,” he told a briefing at the U.N. on Friday.

One medic, Assaad al-Nassasra, is still missing, the Red Crescent says. Mr. Abed said he saw Mr. al-Nassasra being led away blindfolded by Israeli troops. Mr. Al-Khatib said the organization has asked the military where it is holding the staffer.

Mr. Al-Khatib said the slain men had been “targeted at close range” and that a forensic autopsy report would be released soon.

Also Read | Israeli troops deploy to new security corridor across southern Gaza

Israel has accused Hamas of moving and hiding its fighters inside ambulances and emergency vehicles, as well as in hospitals and other civilian infrastructure, arguing that justifies strikes on them. Medical personnel largely deny the accusations.

Israeli strikes have killed more than 150 emergency responders from the Red Crescent and Civil Defence, most of them while on duty, as well as over 1,000 health workers, according to the U.N. The Israeli military rarely investigates such incidents.

Ambulances started heading to Tel al-Sultan at around 3:50 a.m. on March 23, responding to reports of wounded, Mr. Jilani said. The first ambulance returned safely with at least one casualty, he said. But, he said, subsequent ambulances came under fire.

His hands trembling, Mr. Abed told the AP on Saturday that as his ambulance entered the area, its siren lights were on. “All of a sudden, I am telling you, there was direct shooting at us,” so intense that the vehicle ground to a stop, he said.

A 10-year veteran of the Red Crescent, Mr. Abed said he was sitting in the back seat and ducked to the floor. He said he could hear nothing from his two colleagues in the front seat — the only others in the vehicle. They appear to have been killed instantly.

Also Read | Israeli strikes on Gaza overnight leaves more than 50 Palestinians dead

Israeli troops, some with night goggles, dragged Mr. Abed out of the ambulance and onto the ground, he said. They made him strip to his underwear, beat him all over his body with their rifle butts, then tied his hands behind his back, he said.

They interrogated him, asking him about his paramedic training and how many people were in the ambulance with him, he said. One soldier pressed the muzzle of his automatic rifle into his neck. Another pressed his knife blade into Mr. Abed’s palm, almost cutting it, until a third soldier pulled them away and warned Abed, “They’re crazy.”

Mr. Abed said he witnessed them opening fire on the next vehicles to arrive. Soldiers forced him onto his stomach and pressed a gun into his back, he said, and amid the shooting in the darkness, so he could only see two Civil Defence vehicles.

The phone video shows a rescue convoy of Red Crescent and Civil Defence vehicles that was sent out after contact was lost with the stricken ambulance. Taken from the dashboard of one vehicle, it shows several ambulances and a fire truck moving down a road through a barren area in the darkness. The emergency lights on their roofs are flashing the entire way.

They arrive at an ambulance on the side of the road and stop next to it, their lights still flashing. No Israeli troops are visible.

Also Read | Over 30 killed as Israel’s military operation in Gaza Strip expanding to seize ’large areas’

“Lord, let them be OK,” a man in the car says. Then he cries out, “They’re tossed around on the ground!” — apparently referring to bodies. Three men in orange Civil Defence clothing can be seen getting out of the vehicles and walking toward the stopped ambulance.

A shot rings out and one of the men appears to fall. Gunfire erupts.

The man holding the phone appears to scramble out of the car and onto the ground, but the screen goes black, though the audio continues. The gunfire goes on for nearly five and a half minutes, with long, heavy barrages followed by silences punctuated by individual shots and shouts and screams.

Throughout, the man with the phone says over and over, “There is no God but God and Muhammad is God’s prophet” — the profession of faith that Muslims say when they fear they are about to die. Near the end of the six-minute, 40-second video, voices can be heard shouting in Hebrew. “The Jews are coming,” the man said, referring to Israeli soldiers, before the video cuts off.

The Israeli military official asserted there was “no mistreatment,” and said he didn’t know why the vehicles had been buried. He had no information about the medic who remained missing.

Also Read | Hamas issues call to arms against displacement as Israel orders new evacuations

The Israeli military says that after the shooting, troops determined they had killed a Hamas figure named Mohammed Amin Shobaki and eight other militants. However, none of the 15 slain medics has that name, and no other bodies are known to have been found at the site.

The military has not said what happened to Shobaki’s body or released the names of the other alleged militants. The Israeli military official said Israel was “working to bring evidence” that Hamas operatives were killed.

Jonathan Whittall, interim head in Gaza of the U.N. humanitarian office OCHA, dismissed allegations that the slain medics were Hamas militants, saying staff had worked with the same medics previously in evacuating patients from hospitals and other tasks.

“These are paramedic crews that I personally have met before,” he said. “They were buried in their uniforms with their gloves on. They were ready to save lives.”

Phone video contradicts Israeli claims, showing Palestinian medics killed by Israeli forces had emergency signals on.

Phone footage appears to contradict Israel’s account in troops’ killing of 15 Palestinian medics

Protests erupted in dozens of cities across the United States on Saturday over the controversial policies unveiled by US President Donald Trump's administration since January.

Crowds of protesters took to the streets to oppose Trump over the economy, immigration and human rights.

Organized by a coalition of more than 150 groups, including civil rights organizations, labor unions and veterans' associations, the coordinated move led to over 1,400 protests nationwide. Demonstrators gathered at state capitols, federal buildings, congressional offices, Social Security Administration headquarters, city halls and public parks.

The move under the banner of "Hands Off" featured a wide array of protest signs and slogans, such as "End Oligarchy," "Let Gaza Live," and "Save Social Security."

"This is a nationwide mobilization to stop the most brazen power grab in modern history. Trump, (Elon) Musk, and their billionaire cronies are orchestrating an all-out assault on our government, our economy, and our basic rights — enabled by Congress every step of the way," said a piece on handsoff2025.com, the official website of the campaign.

Some elected officials joined the campaign as well. Boston Mayor Michelle Wu said she doesn't want her children and others to live in a world where threats and intimidation are the means of government and values such as diversity and peace are under attack.

According to organizers, nearly 600,000 people have signed up for the "Hands off" movement.

Since taking office, the Trump administration has faced heavy criticism for sweeping policy changes, including mass layoffs in federal agencies, deportation of immigrants, steep budget cuts and imposing tariffs on multiple countries.

Protests staged in US cities against Trump administration's policies

The reigning world champion held off McLaren’s Lando Norris and Oscar Piastri to claim his 64th career Grand Prix victory.

Four-time world champion Max Verstappen claimed a pole-to-flag victory for Red Bull to win the Japanese Grand Prix, his first victory of the 2025 season, with McLaren’s Lando Norris finishing second.

The Dutch driver crossed the finish line almost 1.5 seconds in front of Briton Norris, who held off his McLaren teammate Oscar Piastri of Australia in third, on Sunday.

The win on a damp but drying track at Suzuka was Verstappen’s fourth straight victory in Japan and closed the gap on Norris at the top of the drivers’ championship to one point.

Verstappen said, “It was tough. The McLarens were pushing me very hard.

“It was a lot of fun but not easy pushing the tyres. I am incredibly happy.

“Starting on pole made it possible to win.”

Ferrari’s Charles Leclerc finished fourth ahead of the Mercedes pair of George Russell and Kimi Antonelli.

Ferrari’s Lewis Hamilton was seventh, with Red Bull’s Isack Hadjar next ahead of Williams’s Alex Albon and Haas’s Oliver Bearman.

Yuki Tsunoda finished 12th in his first race for Red Bull since replacing Liam Lawson, having started from 14th on the grid in his home Grand Prix. Lawson was 17th for RB.

Pit stop run-in

Verstappen and Norris were involved in a flashpoint midway through the race as the two frontrunners emerged from a pit stop.

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Norris drew up alongside Verstappen, but the Dutchman refused to budge, and Norris was forced onto the grass before sliding back onto the track.

Norris said, “He forced me off”, but Verstappen told his team that he was not to blame.

“He drove himself onto the grass,” said Verstappen.

Stewards reviewed the incident and decided not to investigate further.

Verstappen has struggled to get to grips with Red Bull this season, finishing second in Australia and fourth in China.

But he pulled off a lap for the ages in qualifying in Suzuka, pipping Norris to claim his first pole of the season in a track-record time.

Verstappen got away cleanly from Norris and Piastri at the first turn, with little change in the grid.

The Dutchman quickly established control by laying down the fastest lap, and his lead grew over the early part of the race.

Eighteen-year-old rookie Antonelli briefly took the lead while Verstappen and Norris were in the pits to become Formula One’s youngest-ever race leader.

Verstappen soon reclaimed the lead, and his team gave him the green light to push until the end of the race.

The two McLarens stayed on his tail, with Piastri telling his team, “I have the pace to get Max.” But Verstappen could not be caught.

Conditions at Suzuka had been dry all week, with a series of small trackside fires halting practice several times, but rain early on Sunday removed any chance of a repeat in the race.

Lando Norris remains at the top of the 2025 F1 drivers’ standings with 62 points, with Verstappen on 61 and Piastri third on 49 points.

The reigning world champion held off McLaren’s Lando Norris and Oscar Piastri to claim his 64th career GP victory.

Verstappen wins F1 Japanese GP ahead of Norris, Piastri

Opponents of President Donald Trump and billionaire Elon Musk rallied across the U.S. on Saturday (April 5, 2025) to protest the administration’s actions on government downsizing, the economy, human rights and other issues.

More than 1,200 “Hands Off!” demonstrations were planned by more than 150 groups, including civil rights organizations, labor unions, LBGTQ+ advocates, veterans and elections activists. The protest sites included the National Mall in Washington, D.C., state capitols and other locations in all 50 states.

Protesters assailed the Trump administration’s moves to fire thousands of federal workers, close Social Security Administration field offices, effectively shutter entire agencies, deport immigrants, scale back protections for transgender people and cut federal funding for health programs.

Musk, a Trump adviser who owns Tesla, SpaceX and the social media platform X, has played a key role in government downsizing as the head of the newly created Department of Government Efficiency. He says he is saving taxpayers billions of dollars.

Kelley Robinson, president of the Human Rights Campaign advocacy group, spoke at the Washington protest, criticizing the Trump administration’s treatment of the LBGTQ+ community.

“The attacks that we’re seeing, they’re not just political. They are personal, y’all,” she said. “They’re trying to ban our books, they’re slashing HIV prevention funding, they’re criminalizing our doctors, our teachers, our families and our lives. This is Donald Trump’s America and I don’t want it y’all. We don’t want this America, y’all. We want the America we deserve, where dignity, safety and freedom belong not to some of us, but to all of us.”

Thousands of people marched in New York City’s midtown Manhattan. In Massachusetts thousands more gathered on Boston Common holding signs including “Hands off our democracy,” “Hands off our Social Security” and “Diversity equity inclusion makes America strong. Hands off!”

In Ohio, hundreds rallied in the rain at the Statehouse in Columbus.

Roger Broom, 66, a retiree from Delaware County, Ohio, said at the Columbus rally that he used to be a Reagan Republican but has been turned off by Trump.

“He’s tearing this country apart,” Broom said. “It’s just an administration of grievances.”

Hundreds of people also demonstrated in Palm Beach Gardens, Florida, a few miles from Trump’s golf course in Jupiter, where he spent the morning at the club’s Senior Club Championship. People lined both sides of PGA Drive, encouraging cars to honk and chanting slogans against Trump.

Archer Moran from Port St. Lucie, Florida, said, “They need to keep their hands off of our Social Security.”

“The list of what they need to keep their hands off of is too long,” Moran said. “And it’s amazing how soon these protests are happening since he’s taken office.”

The president plans to go golfing again Sunday, according to the White House.

Asked about the protests, the White House said in a statement that “President Trump’s position is clear: he will always protect Social Security, Medicare, and Medicaid for eligible beneficiaries. Meanwhile, the Democrats’ stance is giving Social Security, Medicaid, and Medicare benefits to illegal aliens, which will bankrupt these programs and crush American seniors.”

Activists have staged nationwide demonstrations against Trump or Musk multiple times since Trump returned to office. But the opposition movement has yet to produce a mass mobilization like the Women’s March in 2017, which brought thousands of women to Washington, D.C., after Trump’s first inauguration, or the Black Lives Matter demonstrations that erupted in multiple cities after George Floyd’s killing in 2020.

In Charlotte, North Carolina, protesters said they were supporting a variety of causes, from Social Security and education to immigration and women’s reproductive rights.

“Regardless of your party, regardless of who you voted for, what’s going on today, what’s happening today is abhorrent,” said Britt Castillo, 35, of Charlotte. “It’s disgusting and as broken as our current system might be, the way that the current administration is going about trying to fix things — it is not the way to do it. They’re not listening to the people.”

“All they’re doing is making sure that they have a parachute for them and their rich friends, and everybody else here that lives here — that makes the gears turn for this country — are just screwed at the end of the day,” she said.

Nationwide protests against Trump and Musk's government downsizing, human rights violations, and economic policies draw thousands across the U.S.

“Hands Off” rallies against Trump and Musk across U.S.

Photo: Palestine Red Crescent Society/CNN Newsource

By Abeer Salman, Tim Lister and Eyad Kourdi, CNN

A video has emerged showing the final moments of more than a dozen Palestinian emergency workers shot dead by Israeli troops in Gaza last month, casting doubt on Israeli claims that soldiers opened fire on vehicles "advancing suspiciously".

The video is filmed from the front of a vehicle and shows a convoy of clearly marked ambulances moving along a road at dawn, with headlights and flashing emergency lights on.

The Palestine Red Crescent Society (PRCS) said the video was found on the phone of one of the 15 ambulance and relief team members killed by Israeli military.

Their bodies were found in a mass grave more than a week after they were reported missing. Eight of the 14 bodies recovered from the site in the southern Rafah area were identified as members of the PRCS, five as civil defence and one as a UN agency employee.

The deaths sparked international condemnation and the footage appears to contradict the assertion by the Israeli military that some vehicles were moving suspiciously without lights.

The Israel Defense Forces (IDF) asserted last week that "several uncoordinated vehicles were identified advancing suspiciously toward IDF troops without headlights or emergency signals".

"IDF troops then opened fire at the suspected vehicles."

After the video emerged, the IDF repeated that the incident was being investigated.

"All claims, including the documentation circulating about the incident, will be thoroughly and deeply examined to understand the sequence of events and the handling of the situation," it said Saturday.

The video shows the convoy stopping, when it comes across another vehicle at the side of the road - which the PRCS says was an ambulance that had been sent earlier to help injured civilians. Two rescuers get out of the vehicles, wearing uniforms.

A firetruck and an ambulance at the scene are marked with the PRCS insignia.

Almost immediately, there is intense gunfire, which can be heard hitting the convoy. The video ends, but the audio continues for five minutes.

The paramedic filming - identified by the PRCS as Rifaat Radwan - is heard repeatedly saying the "shahada", which Muslims recite when facing death. He asks God for forgiveness and says he knows he is going to die.

At one point, he says: "Forgive me mom, this is the path I chose - to help people. I swear I didn't choose this path, but to help people."

The voices of others in the convoy can also be heard, as well as those of people shouting commands in Hebrew. It's not clear who they are or what they are saying.

ON 1 April, the IDF said: "Following an initial assessment, it was determined that the forces had eliminated a Hamas military operative, Mohammad Amin Ibrahim Shubaki, who took part in the 7 October massacre, along with eight other terrorists from Hamas and the Islamic Jihad."

The IDF did not offer proof of the identity of the alleged terrorists. CNN obtained from the PRCS the names of 14 of those killed - none is identified as Mohammad Shubaki.

The PRCS said the name of the 15th man killed - an UNRWA employee - was withheld out of respect for his family, but was not the name given by the Israeli military.

The IDF added that it was "not surprising that terrorists are once again exploiting medical facilities and equipment for their activities", but the next day, it said the incident was being investigated.

An Israeli military official told CNN last week that Israeli forces buried the bodies of the workers, because they expected it would take time to coordinate their retrieval, with the PRCS and the United Nations.

Satellite imagery from 23 March, first published by Al Jazeera Arabic and analysed by CNN, shows Israeli army vehicles surrounding a cluster of five ambulances from the PRCS and Civil Defense.

Another satellite image, also published by Al Jazeera and analyzed by CNN, dated 25 March, shows an Israeli tank, an excavator and other military vehicles at the same location. Where the ambulances once stood, remnants of vehicles protruded from disturbed ground.

- CNN

Israel Defense Forces claim the 15 killed in southern Rafa were terrorists acting suspiciously.

Video casts doubt on Israeli account of emergency worker killings in Gaza

Phone footage from one of 15 Palestinians medics killed by Israeli forces last month appears to contradict Israeli claims that the medics’ vehicles did not have emergency signals on when troops opened fire on them in southern Gaza.

The footage shows the Red Crescent and Civil Defence teams driving slowly with their emergency vehicles’ lights flashing, with the logos visible, as they pulled up to help an ambulance that had come under fire earlier.

The teams do not appear to be acting unusually or in a threatening manner as three medics emerge from the vehicles and head toward the stricken ambulance.

The @IFRC condemns the killing of eight @PalestineRCS medics in Gaza.



We are heartbroken. These dedicated humanitarians, killed while responding to the wounded, should have been protected.



We mourn their loss and stand with the Palestine Red Crescent.



Full statement:… pic.twitter.com/ohKLIjaW1O — IFRC (@ifrc) March 30, 2025

Their vehicles immediately come under a barrage of gunfire, which goes on for more than five minutes with some brief pauses. The owner of the phone can be heard praying amid the shooting.

“Forgive me, mother. This is the path I chose, mother, to help people,” he cries, his voice weak.

Eight Red Crescent personnel, six Civil Defence workers and a UN worker were killed in the shooting before dawn on March 23 by Israeli troops conducting operations in Tel al-Sultan, a district of the southern Gaza city of Rafah.

Troops then bulldozed over the bodies along with their mangled vehicles, burying them in a mass grave. UN and rescue workers were only able to reach the site a week later to dig out the bodies.

The Palestinian Red Crescent Society’s vice president, Marwan Jilani, said the phone with the footage was found in the pocket of one of its workers who died at the scene.

Fifteen Palestinians medics were killed (Palestinian Red Crescent Society via AP)

The Palestinian ambassador to the United Nations distributed the video to the UN Security Council.

The Associated Press obtained the video from a UN diplomat.

One paramedic who survived, Munzer Abed, confirmed the veracity of the video to the AP.

Two block-shaped concrete structures visible in the video are also seen in a UN video released on Sunday showing the recovery of the bodies from the site – a sign that the location is the same.

Asked about the video, the Israeli military said the incident was “under thorough examination”.

It said “all claims, including the documentation circulating about the incident, will be thoroughly and deeply examined to understand the sequence of events and the handling of the situation”.

The Israeli military has said it opened fire on the vehicles because they were “advancing suspiciously” on nearby troops without headlights or emergency signals.

The bodies of eight of the Red Crescent emergency responders were found in Rafah (AP)

The head of the Palestinian Red Crescent Society, Younes Al-Khatib, called for an independent investigation into the attack.

“We don’t trust any of the army investigations,” he told a briefing at the United Nations on Friday.

One medic, Assaad al-Nassasra, has been missing since the attack, the Red Crescent says. Mr Abed said he saw Mr al-Nassasra being led away blindfolded by Israeli troops. Mr Al-Khatib said the organisation has asked the military where it is holding their worker.

Mr Al-Khatib said the slain men had been “targeted at close range” and that a post-mortem examination report would be released soon.

Israel has accused Hamas of moving and hiding its fighters inside ambulances and emergency vehicles, as well as in hospitals and other civilian infrastructure, arguing that this justifies strikes on them.

Medical personnel largely deny these accusations.

Israeli strikes have killed more than 150 emergency responders from the Red Crescent and Civil Defence, most of them while on duty, as well as more than 1,000 health workers, according to the UN. The Israeli military rarely investigates such incidents.

The bodies were found a week after the attack (Abdel Kareem Hana/AP)

Ambulances started heading to Tel al-Sultan at around 3.50am local time on March 23, responding to reports of people who had been wounded, Mr Jilani said. The first ambulance returned safely with at least one casualty, he said. But subsequent ambulances came under fire.

His hands trembling, Mr Abed told the AP on Saturday that as his ambulance entered the area, its siren lights were on. “All of a sudden, I am telling you, there was direct shooting at us,” so intense that the vehicle ground to a stop, he said.

A 10-year veteran of the Red Crescent, Mr Abed said he was sitting in the back seat and ducked to the floor of the ambulance. He could hear nothing, he said, from his two colleagues in the front seat – the only others in the vehicle. They appear to have been killed instantly.

Israeli troops, some with night goggles, dragged Mr Abed out the ambulance door onto the ground, he said. They made him strip to his underwear, beat him all over his body with their rifle butts, then tied his hands behind his back, he said.

They interrogated him, asking him about his paramedic training and how many people were in the ambulance with him, he said. One soldier pressed the muzzle of his automatic rifle into his neck; another pressed his knife blade into Mr Abed’s palm, almost cutting it, until a third soldier pulled them away and warned Mr Abed: “They’re crazy.”

As food stocks in #Gaza run out, WFP's various assistance programmes are gradually shutting down.



◼️All WFP-supported bakeries are closed

◼️Last food parcels were distributed this week

◼️Hot meals continue, but supplies are running low



We urgently need aid to enter Gaza. pic.twitter.com/kyhYc1tUVG — World Food Programme (@WFP) April 4, 2025

Mr Abed said he witnessed them opening fire on the next vehicles to arrive. Soldiers forced him onto his stomach and pressed a gun into his back, he said, and amid the shooting in the darkness, so he could only see two Civil Defence vehicles.

The phone video shows a rescue convoy of Red Crescent of Civil Defence vehicles that was sent out after contact was lost with the stricken ambulance. Taken from the dashboard of one vehicle, it shows several ambulances and a fire truck moving down a road through a barren area in the darkness.

The emergency lights on their roofs are flashing the entire way.

They arrive at an ambulance on the side of the road and stop next to it, their lights still flashing. No Israeli troops are visible.

“Lord, let them be OK,” a man in the car says. Then he cries out: “They’re tossed around on the ground!” This is apparently referring to the bodies.

Three men in orange Civil Defence clothing can be seen getting out of the vehicles and walking toward the stopped ambulance.

"There must be an independent, prompt & thorough investigation into the killings & those responsible for any violation of international law must be held to account.”



– @volker_turk on attack that killed 15 medical & humanitarian personnel in Gaza.https://t.co/PvQjYw82cp — United Nations (@UN) April 3, 2025

A shot rings out and one of the men appears to fall. Gunfire then erupts.

The man holding the phone appears to scramble out of the car onto the ground, but then the screen goes black, though the audio continues. The gunfire goes on for nearly five and a half minutes – with long, heavy barrages followed by silences punctuated by individual shots and shouts and screams of men.

Throughout, the man with the phone says over and over: “There is no God but God and Muhammad is God’s prophet” – the profession of faith that Muslims say when they fear they are about to die.

Near the end of the six-minute, 40-second video, voices can be heard shouting in Hebrew. “The Jews are coming,” the man said, referring to Israeli soldiers, before the video cuts off.

The Israeli military says that after the shooting, troops determined they had killed a Hamas figure named Mohammed Amin Shobaki and eight other militants.

Our aid workers were killed and thrown into a mass grave in Gaza. Our staff’s red uniforms should have protected them. Instead they became their death shrouds.



This should never happen again. For the sake of humanity.



My op-ed in @guardian: https://t.co/Z48tdRdkq6 pic.twitter.com/fDmPOf6FYq — Jagan Chapagain (@jagan_chapagain) April 5, 2025

However, none of the 15 medics killed has that name, and no other bodies are known to have been found at the site, raising questions over the military’s claims they were in the vehicles.

The military has not said what happened to Mr Shobaki’s body or released the names of the other alleged militants.

Jonathan Whittall, interim head in Gaza of the UN humanitarian office OCHA, dismissed allegations that the medics were Hamas militants, saying humanitarian staff had worked with the same medics previously in evacuating patients from hospitals and other tasks.

“These are paramedic crews that I personally have met before,” he said. “They were buried in their uniforms with their gloves on. They were ready to save lives.”

Rolling coverage of the international stories of interest to our readers

Footage appears to contradict Israeli claim over killing of Palestinian medics

Boy, 3, who 'loved rockets' killed in Vladimir Putin's horror missile strike on Ukraine playground

Timofiy, three, was among 19 killed in a Russian missile attack on Kryvyi Rih, the home city of Ukrainian president Volodymyr Zelensky this week, which also injured another 61

A little boy is among the dead in a vicious missile strike in Ukraine which also injured more than 60 people loved “space rockets”, according to his devastated family.

The Iskander-M missile, a Russian tactical ballistic weapon which can hit targets more than 300 miles away and capable of hypersonic speeds, hit Kryvyi Rih on Friday. At least 19 people died in the tragedy, including six children, on the attack on President Volodymyr Zelensky ’s home city. Among the dead was little Timofiy, aged three, whose body was seen being removed from the wreckage before he later died of his injuries suffered in the attack.

‌



Article continues below

Timofiy, three, was among the nine children killed in the attack (Image: social media; E2W news )

At the time of the explosion, he and his grandmother were returning home from the playground. His mother said: “Timofiyko [Timofiy] was a very energetic child, he was passionate about space and space rockets,” said his distraught mother as she shared pictures of her beloved child.

“He really loved collecting ladybugs and various beetles.”

‌



The moment of the explosion in Kryvyi Rih in Ukraine (Image: east2west news )

The war in Ukraine is now in its fourth year and has cost the lives of around 800,000 Russian troops, with an unknown number of Ukrainians killed. It comes as Russian President Vladimir Putin has launched the Kremlin’s biggest troop call up for more young men to fight on the frontline.

The little boy was walking home with his grandmother when the missile hit (Image: social media; E2W news )

‌



He is so keen to expand militarily he has offered to wipe out debts for many men in exchange for just a year’s service on the Ukraine frontline. With so many losses in Ukraine, Russia is running out of possible recruits, especially since hundreds of thousands fled at the beginning of the war.

Dozens were killed in the tragedy this week (Image: DSNS Ukraine/e2w )

The huge expansion comes after he has lost possibly 840,000 men in battle and well over 10,000 tanks, killed and blown up by Ukrainian forces.

‌



Across Europe, governments are debating how to expand or introduce national service to prepare for war and piling extra funds into defence spending.

The little boy had been near a playground in Ukraine (Image: 1 TV/e2w )

It comes as the Kremlin ended their lull in deadly drone attacks on Ukraine’s civilians, with a drone onslaught on Ukraine’s second city of Kharkiv.

Article continues below

Devastating waves of drones smashed into the city causing multiple explosions, fires and injuries, which included hitting a nine month old baby.

A youngster being carried from the area with emergency services (Image: social media; E2W news )

Putin signed a decree authorising the latest phase of the country’s twice-yearly conscription effort, with the new window beginning Tuesday and running until July 15.

Timofiy, three, was among 19 killed in a Russian missile attack on Kryvyi Rih, the home city of Ukrainian president Volodymyr Zelensky this week, which also injured another 61

Boy, 3, who 'loved rockets' killed in Vladimir Putin's horror missile strike on Ukraine playground

Why was Ash Wednesday Mass celebrated at the White House?

On March 5, marking the beginning of Lent, an Ash Wednesday Mass was celebrated at the White House for the staff of the presidential residence. A new signal sent to Catholics by U.S. President Donald Trump, despite being a Protestant.

All the latest news about the Catholic Church, the Pope and the Vatican, information about other religions, the environment and migrants. A Christian perspective, analysis and decoding of international and religious news.

Donald Trump

Bundesliga: Jamal Musiala Injury Sours Bayern Munich's Win At Augsburg

Curated By :

AFP

Last Updated: April 05, 2025, 07:51 IST

Bayern Munich came back from a goal down to beat 10-man Augsburg 3-1 away and move nine points clear at the top of the Bundesliga but Jamal Musiala went off injured.

Bundesliga: Bayern Munich's Jamal Musiala and Harry Kane against Augsburg (AP)

Bayern Munich‘s 3-1 win at 10-man Augsburg on Friday put them nine points clear of Bayer Leverkusen in the German Bundesliga table but came at a cost with midfielder Jamal Musiala injured days out from facing Inter Milan.

Dimitrios Giannoulis opened the scoring for the hosts 30 minutes in from a free kick but Musiala equalised just before half-time, collecting the ball on the spin before hammering home.

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Harry Kane put Bayern in front midway through the second half with a header, his 23rd league goal of the season, and Leroy Sane forced a late own goal, but all eyes will be on Musiala.

With 54 minutes gone, the Germany midfielder tried to connect with a high pass but fell to the ground and raised his hand, motioning to the bench immediately and was subbed off.

Bayern host Inter Milan on Tuesday, with the return leg the following Wednesday in Italy after a home clash with domestic rivals Borussia Dortmund.

“It doesn’t look brilliant," Bayern sporting director Max Eberl said after the win over Augsburg.

“He won’t be there on Tuesday," he added.

Bayern are in the midst of an injury crisis, missing several first teamers including Manuel Neuer, Alphonso Davies, Dayot Upamecano, Hiroki Ito, Kingsley Coman and Aleksander Pavlovic already sidelined.

“It’s disappointing to see," Kane told DAZN.

“We’ve had a tough week with a few injuries now.

“He’ll go away and get scanned and hopefully it’s not as bad as it looks, but he’s a big player for us and we’re going to miss him for as long as he’s out for."

Bayern captain Joshua Kimmich said: “It’s extremely bitter. It’s pretty harsh how many injuries we’ve copped at the moment."

Leverkusen, who were eliminated from the German Cup by third division Arminia Bielefeld midweek, can draw back six points behind Bayern with a win at Heidenheim on Saturday.

– Bayern break Augsburg’s tight defence –

Augsburg came into the game on an 11-game unbeaten streak and had conceded just four goals in the league in 2025, the lowest mark of any team in the top five European leagues.

Nursing a decimated defence, Bayern decided to attack and were parked out in front of the Augsburg area for the opening half hour, albeit with few clear chances at goal.

Jeffrey Gouweleeuw spotted Giannoulis sliding through the penalty area and cut his free kick into the path of the Greece international, who blasted home off the crossbar.

Bayern hit back just before half-time, with Musiala scoring on the half-turn, surrounded by several Augsburg defenders.

The 22-year-old midfielder leapt to control a high pass early in the second-half but fell to the turf and immediately signalled to the bench, needing assistance to leave the field.

Bayern’s fortunes changed shortly after when Zesinger was given a second yellow for a foul on a counter-attacking Kane. The Switzerland defender was unlucky to be given his marching orders, with replays showing he connected with the ball before Kane fell.

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From the ensuing free-kick, Kimmich found Olise who whipped the ball across the face of goal, allowing Kane to nod in through the legs of goalkeeper Finn Dahmen.

In the third minute of stoppage time, Sane unleashed a shot from the edge of the box which was turned into the goal by Chrislain Matsima, sealing the three points.

Location : Augsburg

First Published: April 05, 2025, 07:13 IST

Bayern Munich came back from a goal down to beat 10-man Augsburg 3-1 away and move nine points clear at the top of the Bundesliga but Jamal Musiala went off injured.

Bundesliga: Jamal Musiala Injury Sours Bayern Munich's Win At Augsburg

U.S. President Donald Trump said on social media Friday that he would grant ByteDance an additional 75-day extension to either sell the popular video-sharing app TikTok to a non-Chinese company or risk being banned in the United States.

"My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress," Trump said in a post on Truth Social.

"The Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days," Trump said.

"We hope to continue working in Good Faith with China," he continued.

In his first term, Trump signed an executive order effectively seeking to ban the app in the United States unless ByteDance sold its U.S. operations to an American company, but the order didn't go into effect amid legal challenges.

In April 2024, then U.S. President Joe Biden signed a law that gave ByteDance 270 days to sell TikTok, citing unfounded national security concerns. If the company failed to comply, the law would require app store operators such as Apple and Google to remove TikTok from their platforms starting on Jan. 19, 2025.

Trump, who took office on Jan. 20, previously signed an executive order to delay the TikTok ban by 75 days "to permit my Administration an opportunity to determine the appropriate course of action with respect to TikTok." That extension was set to expire on April 5.

Trump extends TikTok ban deadline for another 75 days

Vietnamese garment factory workers stitch apparel at a factory in Ho Chi Minh City on Thursday. HUU KHA/AGENCE FRANCE-PRESSE

Higher-than-expected new tariffs unveiled by the United States are likely to hurt Southeast Asian economies, analysts warn, saying that the region has long relied on free trade to boost its growth.

The impact of Washington's so-called reciprocal tariffs would be uneven among members of the Association of Southeast Asian Nations, they said.

Vietnam and Thailand, which have bigger export sectors, are expected to bear more of the brunt of the increased tariffs. Meanwhile, the impact on the Philippines and Singapore would be limited as these two countries were slapped with relatively lower rates.

US President Donald Trump on Wednesday signed an executive order for "reciprocal tariffs", imposing a 10-percent "minimum baseline tariff" on all imports to the US and higher rates on certain trading partners. The tariff hike will take effect as early as Saturday.

Trump, who delivered a speech at the Rose Garden of the White House in Washington DC, presented a chart on "reciprocal tariffs" which showed that different countries and regions face different tariff rates.

For example, China will face a 34-percent tariff while a 20-percent duty will be imposed on the European Union.

In the case of ASEAN, Cambodia was slapped with the highest rate at 49 percent, followed by Laos at 48 percent, Vietnam 46 percent, Myanmar 44 percent, Thailand 36 percent, Indonesia 32 percent, Brunei 24 percent, Malaysia 24 percent, and the Philippines 17 percent.

Singapore, ASEAN's key trading and finance center, was not slapped with a specific tariff apart from the universal 10 percent tariff that will be imposed on all countries.

"The ASEAN economies we cover were hard hit by tariffs as we had expected, but the magnitude of the hit is much larger than we (envisaged)," Lavanya Venkateswaran, senior ASEAN economist at the Singapore-based OCBC Bank, wrote in her research note.

Venkateswaran estimates that Vietnam's exports to the US, which would be the hardest hit by reciprocal tariffs, would go down by as much as 35 percent to 40 percent this year.

Cambodian Minister of Commerce Cham Nimul said the country is actively addressing concerns over the newly imposed 49 percent US tariffs on Cambodian goods, AKP reported.

She said Cambodia does not impose a 97 percent tariff on US imports, as Washington claimed. Instead, Cambodia adheres to World Trade Organization regulations, with its highest tariff on US goods set at 29.4 percent — well below the WTO's allowable limit of 35 percent.

Voicing concerns

Son Nguyen, a lecturer of logistics and supply chain management at the RMIT University Vietnam, raised concerns over the significant tariffs imposed on Vietnam's goods.

Ahead of the US tariff announcement, Vietnam on March 31 cut import taxes on key goods such as automobiles and ethanol. The import taxes on wood and wooden products were eliminated totally, from the previous rates of 20-25 percent.

Yet these measures failed to shield Vietnam from the new US tariff measure. The Trump administration has accused Vietnam of imposing a 90 percent tariff on US imports and announced a "reciprocal tariff" of 46 percent on Vietnamese exports.

"Vietnam, and many countries on the list, will need to think long and hard (about) their relationships with the US," Son told China Daily.

Lawrence Loh, director of the Center for Governance and Sustainability at the National University of Singapore's Business School, said the tariffs will backfire and marginalize US influence in the Asian region, including in ASEAN.

Loh said Washington's latest announcement showed that the US "will only advance self-interest with no consideration for exercising its global responsibilities as the world's largest economy and superpower".

Even before Trump announced the new tariffs, ASEAN has been wary of increased trade protectionism.

According to "The State of Southeast Asia: 2025 Survey Report", over 40 percent of 2,023 respondents said they prefer ASEAN members to accelerate regional integration when confronting rising protectionism and nationalism around the world.

The ASEAN Studies Centre at the ISEAS-Yusof Ishak Institute in Singapore conducted the survey from January to February. The report was presented on Thursday via a webinar in Singapore.

Yenny Wahid, director of the Jakarta-based nonprofit Wahid Foundation, said at the report's presentation that this is a good time to focus on ASEAN centrality, noting that the US' latest trade policy has shown that the region "can no longer rely on superpowers. So, we need to devise our own ways to strengthen the region".

Yang Han and Xu Weiwei in Hong Kong contributed to this story.

Levies to hit SE Asia economies

Donald Trump lee The New York Post a su llegada al Trump National Golf Club en Florida. Foto: Alex Brandon / AP

MADRID (EUROPA PRESS).- El presidente de Estados Unidos, Donald Trump, defendió este sábado la guerra arancelaria que terminó de desatar esta semana con la imposición generalizada de aranceles, aunque admitió que puede existir un costo previo para la población norteamericana antes de recoger sus frutos.

Convencido de la eficacia de sus medidas, Trump aseguró que su administración va a conseguir el retorno de "empleos y negocios como nunca antes se ha visto" en lo que defendió como una "revolución económica".

"Vamos a ganar. Aguanta, porque no va ser fácil, pero el resultado final será histórico", animó el presidente estadunidense.

Trump abordó en particular la situación con China, a la que impuso gravámenes del 34 por ciento a sus productos en una medida que fue contestada ayer por Pekín en los mismos términos sobre las importaciones desde Estados Unidos.

En este sentido, Trump denunció que China "y otros países" han tratado a Estados Unidos "insosteniblemente mal", según el mensaje publicado en su plataforma Truth Social en el que prometió que no se apartará de esta línea.

"Hemos sido el poste de los azotes, tontos e indefensos, pero eso se acabó", dijo.

El presidente justificó los aranceles a China por haber tratado "insosteniblemente mal a Estados Unidos"

Trump pide a la gente que "resista" su guerra comercial: "No será fácil, pero el resultado será histórico"

Americans could pay more for these everyday basics under Trump's new tariffs

3 hours ago Share Save Nadine Yousif BBC News Share Save

Getty Images Clothing from well-known American brands like the Gap could see a price increase, as they rely heavily on Asian countries for production

US President Donald Trump's plan to impose tariffs - or import taxes - for nearly every country in the world could push prices up on almost all the staples Americans routinely buy, from clothes to coffee. After declaring a national economic emergency on Wednesday, Trump announced new tariffs on billions of dollars of goods of at least 10%. For countries he has deemed the "worst offenders", the rates can go as high as 50%. They start taking effect on 5 April. Economists have warned the new levies - and those that other countries impose in retaliation - could push prices up for Americans across the board, and Federal Reserve Chairman Jerome Powell has said that they will increase inflation. That's because the companies importing the goods may pass the costs of the tariffs on to customers or simply bring fewer products into the country, creating a limited supply. Here are six everyday items that could become more expensive for American consumers.

Clothing – from Target to H&M to the Gap

The "worst offenders" about to be hit with the highest tariffs include the clothing manufacturing hubs of Vietnam, China and Bangladesh. The three - among the top five largest apparel importers to the US - could soon see levies ranging from 34% to 46% charged on their products. That means major US department stores like Target and Walmart, where Americans often turn for affordable clothing, and some familiar apparel brands may feel the pressure. The Gap, an American clothing retailer that also operates Old Navy, Banana Republic and Athleta, sources about 21% of its clothing from Vietnam, according to an analysis by Prof Sheng Lu at the University of Delaware's Fashion & Apparel Studies department. Another 37% of its clothing comes from India, Indonesia and Bangladesh. H&M, known for its inexpensive fashions, manufactures most of its clothing in China and Bangladesh. The tariffs could bring an "unfair burden to American families, particularly lower-income households", warned the United States Fashion Industry Association in a statement on Wednesday. Vietnam is open to working out a deal with the administration to avoid the tariffs, Trump has said. China, on the other hand, has retaliated with its own steep levies.

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Coffee and other imported foods

Almost all of the coffee consumed in the US comes from outside the country, meaning that morning cup, whether brewed at home or at a favourite shop, could soon become a bigger burden on Americans' wallets. The US mostly sources its coffee from Brazil and Colombia, which are subject to the baseline 10% tariffs. Vietnam is also a key importer of certain types of coffee. Walter Haas, owner of San Francisco-based coffee roastery Graffeo, told the Washington Post that once tariffs hit, his company will feel it "immediately – literally the next day." If they remain in place, those cost increases will be "permanently baked into the price consumers pay", he added. Other imported foods found on the countertops in many US kitchens could suffer a similar fate, especially those coming from European Union nations, who will all be hit by a 20% tariff. Prices of shelf staples like olive oil, which is primarily imported from Italy, Spain and Greece, could rise further.

Sneakers – including Adidas to Nike

Shoes, one of the most basic necessities and also one of Americans' biggest splurges, could become more expensive, including the beloved sneakers Nike Air Force 1s and Adidas Sambas. Both sportswear companies rely heavily on Asian factory hubs for their inventories, with about half of Nike's shoes and 39% of Adidas' shoes made in Vietnam. In 2024, the US imported more than $27bn worth of footwear, mostly from China and Vietnam, which was subject to tariffs of about $3bn, according to data by Prof Lu. Now, that tax amount could nearly triple. UBS analysts told Reuters that, all in all, retailers may not be able to fully swallow the costs, and would need to raise prices by 10% to 12% to offset the levies on Vietnamese manufacturers.

Alcohol, including European wine and beer

France is one of the biggest foreign suppliers of wine to the US, and its winemaking industry has expressed anxiety about what the 20% EU tariffs will mean for their business. The Bourgogne Wine Board, which represents producers in the French region of Burgundy, said the US tariffs will deliver "a serious blow" to both exporters and American consumers. "The risk with these additional tariffs is that they could push our wines past a psychological price threshold," warned Laurent Delaunay, president of the Bourgogne Wine Board - meaning above what buyers feel comfortable paying. Price increases could be seen at restaurants, especially for imported beers (like Guinness) or drinks using foreign spirits (like a negroni). Separately, Trump expanded an aluminium tariff to include all canned beer, which could also make it more expensive for those who stay home. UBS analysts told Reuters that large alcohol sellers would have to hike prices up to 5% to cover the tariffs if they choose not to absorb the costs themselves.

Getty Images

Electronics, like iPhones and video gaming consoles

Cell phones, TVs and video game consoles tend to be big-ticket purchases, and the latest US tariffs could make them even bigger-ticket. China, as well as Taiwan and South Korea, are all top exporters of electronics to the US. Almost all iPhones are made in China, although some are also made in India (which, too, is on the "worst offenders" list with a 26% tariff). Samsung, meanwhile, has significant production operations in Vietnam. It's still unclear how these major tech companies will respond to the new levies. But Japanese video gaming company Nintendo announced on Friday that it is delaying pre-orders of its Switch 2 console, saying it needs to "assess the potential impact of tariffs."

Shein and Temu shopping hauls

Getty Images

The next cup of coffee, Shein shopping haul and more may soon cost more as tariffs take effect

Americans may pay more for these everyday basics under Trump's new tariffs

With reference to ‘The tariff challenge’; the reciprocal tariffs on Indian goods imposed by the US pose a threat to trade in sectors such as textiles, engineering and fisheries, whereas pharmaceuticals and energy products have escaped the blow. India enjoys an advantage because of lesser tariffs compared to those imposed on our Asian competitors like China, Vietnam and Thailand. The Modi government must exploit this beneficial situation to capture the US market. However, India should remain vigilant, especially against China and other rivals who might try dumping their goods in India. The bilateral trade agreement should be used to deal with reciprocal tariffs imposed by the US.

Harbinder S Dhillon, Una

Blessing in disguise

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When many nations are facing relatively higher tariffs, India stands to gain rather than be hit by the new US tariffs. This is an opportunity for India to strengthen exports to the US. Our manufacturing sector, especially textiles, pharma and the auto parts industry, must take advantage of the situation. IT companies, too, have big exposure to the US market and a big chunk of revenue comes from there. Here again, Trump has raised the bar for other countries. This means our IT companies continue to remain as competitive as or even better than those of other countries. The new US tariff regime will not have much negative impact on Indian business if we act wisely.

Suman Kuplish, Ludhiana

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Textile industry has an edge

The silver lining for India is that tariffs have been slapped at higher rates for other textile-exporting countries like Bangladesh, Vietnam, China and Sri Lanka. Thus, India stands a good chance to augment its exports to the US. The government should work in close collaboration with US companies. The quality of Indian garments is quite good and competitive. India can export its products through Brazil by either opening offices there or directly manufacturing their garments in that country. India should continue to explore tieups with rich trade partners in Europe.

NPS Sohal, by mail

People’s trust crucial

With reference to ‘Nation’s moral fabric is in peril’; the writer has rightly pointed out that the armed forces and the judiciary are the two institutions that the people still respect. The recent ‘cash at judge’s house’ row has damaged the reputation of the judiciary, and the public is having doubts about the justice delivery system in the country. It is a sad state of affairs that most government departments have been bitten by the corruption bug. We don’t know when conditions will improve or whether they will. People’s trust in the system should be of utmost importance to any government. Since citizens are suffering, society is witnessing a steady decline in values.

Subhash C Taneja, Gurugram

Time-bound defence procurement

Apropos of ‘IAF jet crashes in Gujarat, one of two pilots missing’; our armed forces require sophisticated and dependable equipment in order to maintain their capabilities to meet any threat or challenge. The procurement process, be it from indigenous resources or other countries, should be expedited and made time-bound to meet the current requirements and upgrade our defence systems. We cannot afford to put the precious lives of our military personnel at risk due to a lack of latest equipment and other related resources. Obsolete equipment needs to be phased out as soon as possible.

Ravi Bhushan, Kurukshetra

Collective duty to fight drugs

The rising drug menace in Punjab demands more than just symbolic gestures and politically charged campaigns. Public marches, pledges and awareness drives serve a purpose, but without strong law enforcement and systemic reforms, their impact will remain limited. The focus should be on dismantling drug networks, tightening border controls, ensuring accountability of law enforcement agencies and investing in rehabilitation centres. The fight against drugs should not be reduced to scoring brownie points but treated as a collective responsibility.

Nikhil Chopra, Ludhiana

With reference to ‘The tariff challenge’; the reciprocal tariffs on Indian goods imposed by the US pose a threat to trade in sectors such as textiles, engineering and fisheries, whereas pharmaceuticals and energy products have escaped the blow. India enjoys an advantage because of lesser tariffs compared to those imposed on our Asian competitors like China, Vietnam and Thailand. The Modi government must exploit this beneficial situation to capture the US market. However, India should remain vigilant, especially against China and other rivals who might try dumping their goods in India. The bilateral trade agreement should be used to deal with reciprocal tariffs imposed by the US.

Better deal than other nations

China's announcement on Friday that it will impose a 34% tariff on imports of all US products beginning April 10, as part of a flurry of retaliatory measures following Donald Trump’s “Liberation Day”, has sent the markets in free fall. The FTSE 100 plunged just minutes after the move was announced by Beijing, falling to 8,160.40 and taking its losses today to 3.7%.

The new tariff matches the rate of the US "reciprocal" tariff of 34% on Chinese exports that the US President ordered this week. The US stock markets is also expected to react negatively to the news. The Dow Jones Industrial Average, S&P 500 and Nasdaq were all on course to plunge more than 2 at the start of trading.

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China announced on Friday it was hitting the US with retaliatory 34% tariffs.

Stock markets LIVE: Trump nightmare as China's 34% tariffs move sends markets in free fall

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The latest news on South Korea . The country has entered a period of political transition after President Yoon Suk Yeol was unanimously removed from office by the Constitutional Court, following his controversial declaration of martial law late last year.

The ruling, which upheld parliament's impeachment, has plunged the country into uncertainty just as it contends with economic strain and regional tensions. Prime Minister Han Duck-soo now assumes the role of acting president.

As factions regroup and election campaigns ignite, attention turns to the polarising figures vying for the presidency—none more prominent than liberal contender Lee Jae-myung, whose own legal troubles mirror the political chaos at large.

South Korea's Yoon removed from office over martial law

Open this photo in gallery: A trader works on the floor at the New York Stock Exchange on April 3.Brendan McDermid/Reuters

U.S. President Donald Trump’s decision to hike tariffs to the highest level in a century has sent shock waves through the global economy, hammering financial markets, adding to inflationary concerns and raising the odds of a recession in the United States that could ripple across the border into Canada.

On Wednesday afternoon, Mr. Trump announced a baseline tariff of 10 per cent on imports, with much higher rates for dozens of trading partners, including the European Union, China and Japan. That pushed America’s average tariff rate above 20 per cent, from around 2 per cent when Mr. Trump took office – a level last seen in the 1930s when a breakdown in global trade helped fuel the Great Depression.

Mr. Trump’s move – a wholesale repudiation of the open trading system the U.S. spent decades building – stunned governments, businesses and investors around the world. The S&P 500 and Nasdaq Composite tumbled 4.8 per cent and 6 per cent on Thursday, the biggest stock market drop since the start of the COVID-19 pandemic.

Other equity markets wilted, including Canada’s TSX Composite, which fell 3.8 per cent. The U.S. dollar weakened more than 1.5 per cent against other currencies and the price of oil dropped around 7 per cent amid concerns of a global economic slowdown and a wrenching adjustment to international supply chains.

“It’s a structural break in the global trading system,” James Rossiter, head of global macro strategy at Toronto-Dominion Bank, said in an interview.

“We talked through the first season of Trump about globalization unwinding and sort of collapsing a little bit on itself. But I think what we’re seeing now is far more fundamental and far more durable and long lasting than what we saw previously.”

Canada, Mexico spared from worst of Trump’s latest tariff blitz

Mr. Rossiter said the tariff shock could increase U.S. inflation by 1.5 percentage points by the middle of next year, as import prices jump and supply chains fracture. It could also carve 0.75 percentage points off U.S. GDP growth, he said. That’s not quite recession territory, but it’s getting close.

World Trade Organization Director-General Ngozi Okonjo-Iweala released a statement on Thursday warning that the U.S. moves could lead to a 1-per-cent contraction in global goods trading volumes. That would represent a nearly four-percentage-point downward revision from the WTO’s previous projection.

“I’m deeply concerned about this decline and the potential for escalation into a tariff war with a cycle of retaliatory measures that lead to further declines in trade,” Dr. Okonjo-Iweala said.

Canada and Mexico fared comparatively well in Mr. Trump’s latest barrage. Neither country will face the baseline tariff or a higher “reciprocal” rate. Crucially, an earlier one-month tariff exemption for goods that trade in compliance with the United States-Mexico-Canada Agreement was extended indefinitely.

Canada and Mexico are still being hit by tariffs on autos, steel and aluminum and all products that don’t comply with USMCA content rules. But by avoiding the latest round of tariffs, many Canadian goods will have a competitive advantage in the U.S. market compared with products from other countries.

The Canadian dollar strengthened on Thursday, rising by about a cent to 71 cents against the U.S. dollar, although this was also due to the U.S. dollar weakening.

“Tariff rates now that are being imposed on Canada and Mexico are significantly lower than the rates on the rest of the world,” Nathan Janzen, assistant chief economist at Royal Bank of Canada, said in an interview.

That means Canadian products could win market share in the U.S. The problem, however, is that overall demand in the U.S. could take a beating if the country falls into a recession and consumer confidence, which is already fragile, crumbles.

“Potentially we can keep our share of the pie, or even maybe it gets a little bit bigger in this environment. But that’s not a whole lot of consolation if the size of the pie itself is shrinking,” Mr. Janzen said.

Stephen Brown, deputy chief North America economist at Capital Economics, said Canada is in a slightly better position today than it had been over the past month, when Mr. Trump was directing most of his protectionist attention at his two closest neighbours. Mr. Brown had previously been forecasting a recession for Canada, but now expects a period of essentially zero growth rather than an outright contraction.

But a lot will depend on how global disruptions spill into Canada.

“These tariffs are going to cause a lot of weakness in other economies, and therefore weaker commodities demand,” Mr. Brown said in an interview. “So even if demand for Canada’s exports holds up in volume terms, we’ve seen this big drop in oil prices and other commodity prices. So that feeds through to weaker earnings in Canada and can likewise weigh on investment.”

Trade wars are a difficult type of shock to navigate, because tariffs weigh on economic activity while increasing prices – something economists call “stagflation.” This puts central banks, such as the Bank of Canada and the U.S. Federal Reserve, in a tough spot. They have to choose between cutting interest rates to fend off a recession and keeping them steady or raising them to stop a one-time jump in prices from becoming an inflationary spiral.

U.S. tariffs will directly increase the price of imported goods, and may push up prices for domestically produced goods as American companies take the opportunity to raise their prices. Companies may also increase prices in response to rising costs across their supply chains.

“The U.S. and other advanced economies import a lot of intermediate goods that feed into domestic supply chains, and tariffs on those intermediate products increase the costs of domestic production as well,” said Mr. Janzen of RBC.

“That’s really where you can get spillovers into Canadian inflation. Because the North American industrial sector … is very heavily integrated, so if costs rise in the U.S. industrial sector, that means that they’re also rising in the Canadian and Mexican industrial sectors as well.”

Given potential inflationary pressures in Canada, including from Ottawa’s retaliatory tariffs, financial markets expect the Bank of Canada to hold interest rates steady at its next meeting in April, before cutting two to three more times this year, according to LSEG data. Markets expect the Fed to remain on hold for now, but to resume rate cuts in the summer.

How much Mr. Trump’s actions reverberate around the world may depend on how other countries respond. On Thursday, Prime Minister Mark Carney announced Canada’s third round of retaliatory tariffs, this time matching U.S. tariffs on automobiles.

Others have said they will hit back against Mr. Trump’s “reciprocal” tariffs, including the European Union, Japan, South Korea and China. Australian Prime Minister Anthony Albanese, by contrast, ruled out retaliation and said he wanted to avoid a “race to the bottom that leads to higher prices and slower growth.”

The last time the U.S. shocked the world economy in this manner was the infamous 1930 Smoot-Hawley Tariff Act, which sparked a tit-for-tat trade war that added to the length and depth of the Great Depression and aided the breakdown in global co-operation in the lead-up to the Second World War.

“We’re in sort of uncharted waters to some degree, or at least uncharted waters in the modern era,” said Mr. Rossiter of TD. “This is not something the world hasn’t seen before. It’s just the last time we saw it was the 1930s or the 1890s.”

The U.S. President’s trade war has pitched America’s average tariff rate from 2 per cent to above 20 per cent – a level last seen in the 1930s

Trump’s trade barrage rattles global markets, triggering recession fears

Chinese stocks’ world-beating rally faces a reality check after the US slapped a 34 per cent reciprocal tariff on imports from the mainland, casting a shadow on its fragile economic recovery.

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The levy is in addition to the existing 20 per cent tariff imposed by President Donald Trump shortly after he took office in January, bringing it close to the 60 per cent rate he threatened during the election campaign and almost falling into the worst-case scenario projected by global investment banks.

The Trump administration also plugged a gap by imposing tariffs ranging from 24 per cent to 46 per cent on Southeast Asian countries, including Vietnam and Thailand, to prevent Chinese goods from being diverted to the US.

“This will have a ripple effect on macro consumption, which is still weak but saw pockets of stabilisation recently,” said Kai Wang, a market strategist at Morningstar. “This could have long-term ramifications, and it is possible China might announce more fiscal stimulus to counteract perceived macro weakness.”

03:19 Trump slaps 34% reciprocal tariffs on Chinese imports as part of ‘Liberation Day’ package Trump slaps 34% reciprocal tariffs on Chinese imports as part of ‘Liberation Day’ package

Even before Trump’s latest tariffs, the run-up in Chinese stocks spurred by the nation’s advances in artificial intelligence was showing signs of fatigue. Chinese tech companies’ valuation edge has weakened after they nearly closed the multiples gap with the “Magnificent Seven” US mega-cap stocks.

Best strategy is to bet on plays that would benefit from new stimulus policies China is likely to announce, analyst says.

Chinese stocks’ world-beating run risks unravelling as Trump’s reciprocal tariff kicks in

Trade tariffs imposed on tiny Australian territories that are either uninhabited or claim to have no trading relationship with the US appear to have been calculated based on erroneous trade data.

The data relates, at least in part, to shipments mislabelled as coming from remote Norfolk Island, or Heard Island and McDonald Islands, instead of their correct countries of origin, the Guardian can reveal.



Among the erroneously labelled shipments over the past five years from the island territories are shipments of aquarium systems, Timberland boots, wine and parts for a recycling plant.

According to an analysis of US import data and shipping records, multiple shipments of goods were classified as having originated from Norfolk Island or Heard and McDonald islands when neither the company address, nor the port of departure for the shipment, nor the destination port were located in those territories.

In some cases involving Norfolk Island, which is 1,600km north-east of Sydney and has a population of 2,188, the confusion appears to have resulted from the fact that the company’s address or port of departure is Norfolk, UK, or the destination is Norfolk, Virginia in the US, or a company’s registered address in New Hampshire (NH) has been listed instead as Norfolk Island (NI).

Norfolk Island was this week hit with a 29% tariff on its goods – 19 percentage points higher than the rest of Australia – despite claiming to have no export relationship with the US.

The decision has perplexed the Australian government, with Australia’s prime minister saying it was evidence “nowhere was safe” from Trump’s tariffs. The country’s trade minister, Don Farrell, said it was “clearly a mistake”.

George Plant, the administrator of Norfolk Island, told the Guardian on Thursday: “There are no known exports from Norfolk Island to the United States.”

But according to US government data, presented by the Observatory of Economic Complexity, Norfolk Island exported US$655,000 (A$1.04m) worth of goods to the US in 2023, with its main export being US$413,000 (A$658,000) worth of leather footwear.

There is one large shoe shop on Norfolk Island, Franks Shoes. Its manager said in an email to the Guardian: “We are a shoe shop selling shoes to the tourists that visit the island and do not export shoes to the US or have any business with the US.”

The Guardian has identified two bills of lading – records of cargo shipments – for shipments each containing 3,714 black Timberland men’s ankle boots that set sail from South Riding port in the Bahamas for Miami, Florida, in December 2023. The shipments were worth a combined total of US$315,000 (A$498,000).

The bills of lading list “Norfolk Island” as the country of origin and the address of the shipper as Timberland, 200 Domain Drive, Stratham 03885-2575, Norfolk Island.

Timberland’s corporate office address is listed as 200 Domain Drive, Stratham, New Hampshire on its LinkedIn page.

A spokesperson for Timberland shoes said: “We are in a quiet period and have no comment.”

Other bills of lading that appear to have erroneously listed Norfolk Island as the country of origin include several from an aquarium and fountain company, OASE, which sent shipments from Norfolk in the UK to the US, and steel equipment sent from Novum Structures in Norfolk, UK, to the US.

Novum Structure’s address is listed on one bill of lading as 14 Hopper Way, Diss Business Park, Diss, Norfolk Island, instead of Norfolk in the UK, which is its EU headquarters, according to Novum’s website.

OASE and Novum were contacted for comment. The Guardian is not alleging that any of the companies are responsible for the errors in the paperwork.

The US Census Bureau, the agency responsible for collating US trade statistics, acknowledges in its guide to trade statistics that such reporting errors can occur and can “significantly impact detailed commodity statistics”.

The shipping databases that the Guardian used to check bill of lading information appear to rely on documents released by US customs under freedom of information requests, so it is not clear when in the process errors were made – during the exporting and shipping process or during the data collection process.

The errors in the shipping records appear to have flowed through to US census and trade data used as the basis for calculating tariffs.

Farrell told the ABC on Friday that the US’s 29% tariff imposed on Norfolk Island was “clearly a mistake” as Norfolk Island was part of Australia and so should be subject to the same tariff as the rest of the country. He said the Australian government would raise the issue with the US administration.

“It’s an indication that this was a rushed process,” he said. “The trade system that America has until yesterday been working on had been built up since the second world war. In the space of four weeks, the American president has upended that process. So I think it was inevitable that mistakes would be made and particularly including Norfolk Island as [a] 29% tariff.”

Journalists and economists have figured out the method used by the Trump administration to calculate the tariffs placed on other countries and territories.

It is a simple formula which produces a tariff percentage based on the country’s trade deficit with the US in 2024. The Guardian has confirmed that this formula produces the 29% figure using US trade data for Norfolk Island.

Heard Island and McDonald Islands – an uninhabited group of islands covered in glaciers near Antarctica, which is also an “external territory” of Australia – was also named in the White House’s list of “countries” hit by tariffs, with a 10% tariff placed on it.

The territory does have a fishery but no buildings or human habitation. Despite this, according to export data from the World Bank, the US imported US$1.4m (A$2.23m) of products from Heard Island and McDonald Islands in 2022, nearly all of which was “machinery and electrical” imports.

The Guardian has identified multiple bills of lading that suggest exports originated from the remote islands but are largely steel or plastic imports from Europe to the US. The paperwork lists the shipper’s address as being in the Heard Island and McDonald Islands rather than Germany or Austria, however.

One bill of lading, from September 2024, relates to parts for a PET recycling plant, shipped from Starlinger Co in Vienna to Oakland California, which lists the address of Starlinger as being in “Vienna, Heard Island and McDonald Islands”. Starlinger Co was contacted for comment.

Jared Mondschein, director of research at the United States Studies Centre at the University of Sydney, said of the rushed development of the tariff policy: “It doesn’t surprise me that because of the lack of conventional interagency thinking on this, that there were some errors that were not caught.

“If you input the wrong data in, then you’re going to get the wrong data out.

“And I think in this instance, if there are errors in the shipping records, which, you know, they’re ultimately humans and these things happen, then there’s going to be mistakes.”

The trade data issue may also be responsible for other remote areas being targeted with tariffs. The Arctic island of Jan Mayen and the Svalbard archipelago were hit with a 10% trade tariff – again despite local reporting suggesting few people lived there and there was very little in the way of exports.

Other territories appear to be in a similar situation, with bills of lading for shipments from Indian suppliers being mislabelled as coming from “British Indian Ocean Territory”, a remote external territory of the UK with few inhabitants.

Tokelau, a territory of New Zealand in the southern Pacific Ocean, was also targeted with tariffs, and again some shipments have been mislabelled as the suppliers originating from the island, such as a shipment of pergola parts from Turkey.

The White House was contacted for comment.

<strong>Exclusive</strong>: Aquarium systems, Timberland boots and recycling plant parts were mislabelled as coming from remote Norfolk Island or Heard and McDonald islands

Not that Norfolk! Mislabelled shipments led to Trump tariffs on uninhabited islands and remote outposts with no US trade

The Korea Center for International Finance analyzed that the tariffs would reduce the global economic growth rate by around 0.49 points each year from now until 2028

Trump upends global trade with sweeping retributive tariffs

Bulgarian politicians and business persons have been reacting to the news of the sweeping tariffs on foreign imports announced by US President Donald Trump.

On Wednesday, Trump unveiled a plan for further restrictions on imports to the US in the form of additional tariffs on all goods with the exception of steel, aluminium and cars, which are already subject to a 25% import tax. The tariff rate applicable to goods originating in the EU will be 20%.



Vice President Iliana Iotova: Bulgarian institutions need to react urgently" to the decision. Bulgarian large, small and medium-sized enterprises need to be engaged in a very serious, very objective discussion so as to decide on a response to this new policy, not only as an EU Member State but also on a bilateral basis. If necessary, urgent measures should be taken so that we do not lag behind once again, so that people are not faced with bankruptcies.

Vazrazhdane Party leader Kostadin Kostadinov: Bulgaria has almost no trade with the US, and I do not expect this to seriously affect the country. This trade war does not bother us. This is an opportunity to rethink and renegotiate the way the European Union functions.

Association of Automobile Importers in Bulgaria Executive Board Chair Lyubomir Dorosiev (in comment to BTA): The tariffs on EU-made automobiles are good news for European consumers. Now that European manufacturers will be unable to export cheaply to America, they will gradually cut new car prices in Europe and more specifically in Bulgaria. Cars imported from the US to Bulgaria account for not more than 5% of this country's total road fleet. The extra tax will needlessly push up the price of imports from the US, and this trade in Bulgaria may shrink or even cease altogether.

GERB leader Boyko Borissov said the trade war between the US and the European Union matters to dozens, not to say hundreds, of Bulgarian businesses. He expressed concern about the negative effect on the country's business. According to him, this could mean a rise in inflation, a reduction in jobs and investment. He is of the opinion that the automotive sector and engineering will be the most affected.

BTA :: Bulgarian Politicians, Business Persons React to Trump's Tariffs

BRITAIN is threatening tariffs on 8,000 US products including toilet seats — as Donald Trump’s trade war sent world economies down the pan yesterday.

A staggering $2.2trillion was wiped off stock markets with the Nasdaq suffering its biggest tanking since the start of Covid.

7 Donald Trump's 'Liberation Day' tariffs have knocked a staggering $2.2trillion off global stock markets Credit: Reuters

7 A trader in New York buries his head in his hands as the markets plummet in the wake of US tariffs Credit: AFP

7 A trader in South Korea looks as grim as the market figures behind her Credit: EPA

PM Sir Keir Starmer still hopes to do a deal with the President but has lined up US goods for import taxes within weeks.

Trump's tariff blitz triggered a sharp sell-off of shares, with traders shocked by the size of levies imposed on even the US’s closest allies.

Furious governments threatened to whack tariffs on US imports.

The PM repeated his priority was to secure a trade deal with the US which would reduce or remove the ten per cent tariff imposed on all UK exports, and 25 per cent on cars and steel.

But, in a toughening of the Government’s stance, it is drawing up a list of 8,000 US products it could hit with retaliatory tariffs if no pact is agreed by May 1.

Business Secretary Jonathan Reynolds published a 417-page list of American products that could be clobbered.

Toilet seats are included, along with Harley-Davidson motorcycles, Jack Daniel’s and Jim Beam whiskey and Levi’s jeans.

US-made vacuum cleaners, sports shoes and chopsticks are also in our crosshairs. Sir Keir vowed: “Nothing is off the table.”

And at a Downing Street breakfast meeting, he told bosses of firms such as Bentley, Unilever and Airbus that the UK has a “range of levers at our disposal”.

Later at an event in Chesterfield, the PM said the UK was heading into a new era but that “we shouldn’t jump into a trade war”.

World leaders react to to Trump's tariffs

He added: “I need to act in the national interest. The choice before us is whether to jump into retaliatory action with both feet at the get-go, or continue with our calm approach to negotiate a trade deal to mitigate tariffs if we can.”

Yesterday the FTSE 100 slumped by 1.55 per cent to 8,474.7 points while the FTSE 250 fell by 2.33 per cent to 19,210.5 points.

Retailer JD Sports saw shares dropping by 7.89 power cent. Shell and BP also tanked.

Mr Trump announced his controversial tariffs in the White House Rose Garden on Wednesday.

Yesterday, referring to the US, he wrote on his Truth Social account: “The operation is over! The patient will be far stronger, bigger, better and more resilient than ever before.”

The tariffs imposed on the UK were at the lowest end of his sliding scale — in what was considered a Brexit dividend.

In Europe, subject to a 20 per cent tariff, France’s CAC 40 stock market closed down by 3.3 per cent while Germany’s DAX dropped three per cent.

German sportswear giant adidas tumbled by almost 12 per cent as it makes most of its shoes in Asia, hit by hefty tariffs. Rivals Nike and Puma suffered heavy falls.

7

The biggest pain was saved for Wall Street with shares crashing in the US’s most valuable companies — from banks to retail to tech. The S&P 500 fell by 4.13 per cent.

The Nasdaq slumped by 5.3 per cent — the biggest fall since the start of the pandemic.

Apple fell almost nine per cent, wiping $250billion off its value. It relies heavily on tech imports from China, India, Vietnam and Thailand, all subject to heavy tariffs.

Nvidia, the $2.5trillion chip company, saw seven per cent erased from its value.

Elsewhere, South Korea’s main share index slumped 0.7 per cent.

Sir Keir yesterday refused to rule out tax hikes later this year if reduced growth means Labour risks breaking its fiscal rules.

Business chiefs have been asked for their views over the next four weeks. Some warned that “two wrongs don’t make a right” and told the PM to hold off his own tariffs.

LEVIES FORMULA BAFFLES EXPERTS By Martina Bet PRESIDENT Donald Trump used a back-of-the-envelope maths formula to slap “reciprocal” tariffs on more than 100 countries. In reality the numbers have little to do with what countries charge the US. The White House released a flashy formula with Greek algebra symbols — but it boiled down to a simple sum. Officials took America’s goods trade deficit with each country, divided it by how much the US imports from them and then halved that number. Trump did not use the formula for countries that buy more goods from the US than they sell, including the UK. They were charged ten per cent. Deutsche Bank’s George Saravelos said: “Trump is focused on penalising countries with larger trade deficits in goods. It’s highly mechanical rather than a sophisticated assessment of tariffs.” Despite tariffs on remote places such as Heard Island — only inhabited by penguins and seals — Russia was entirely exempt. US press secretary Karoline Leavitt argued existing sanctions on the country already “preclude any meaningful trade”.

Craig Beaumont, of the Federation of Small Businesses, said: “Retaliatory tariffs would double the damage at a time of burgeoning costs and taxes in our country.

"We are calling on the UK and US Governments for small and medium enterprises to be at the centre of a prosperity deal.”

The knock-on effect has seen digger giant JCB double the size of a factory being built in San Antonio, Texas.

CEO Graeme Macdonald said: “In the short term the tariffs will have a significant impact on our business. However, in the medium term our San Antonio factory will help to mitigate the impact.”

Whitehall sources expressed some relief that the UK was only hit with the ten per cent rate.

Ministers believe the actual rate should be four per cent which is the average tariff on US goods.

But the 25 per cent hit to UK car makers has put 25,000 jobs at risk. Trump adviser Sebastian Gorka said: “After Brexit, you’ve reaffirmed your independence, and I think that is being proven today by the special rate that has been afforded to the UK.”

Experts warned UK growth could take a 0.5 per cent hit in the coming years.

Thomas Pugh, economist at RSM UK, said the levies will be “not far off” wiping out Chancellor Rachel Reeves’ £10billion financial cushion.

He said: “The direct impact on the UK is likely to be in the 0.2 to 0.5 per cent of GDP range over the next few years.

"The impact will be bigger once the hit to the US and European economies becomes clearer and is taken into account.”

Two thirds of Brits think the ­tariffs will have a negative effect on the economy, a poll found.

A trade deal, ready to be signed by the US, could include lower digital services tax for tech firms in exchange for less severe tariffs.

Britain could review enforcement of its online harms rules as part of any agreement, it was claimed.

7 PM Sir Keir Starmer, with business leaders today, said his priority was to secure a trade deal with Trump which would reduce or remove the ten per cent tariff imposed on all UK exports and 25 per cent on cars Credit: PA

7 Trump's tariff blitz triggered a sharp sell-off of shares, with traders shocked by the size of levies imposed on even the US’s closest allies Credit: The Mega Agency

7 Britain is even threatening to add tariffs to toilet seats Credit: Getty

But The Molly Rose Foundation wrote to Mr Reynolds saying it was “dismayed and appalled” by any willingness to bring children’s safety into tariff mitigation.

Germany’s economy minister Robert Habeck insisted that Trump will “buckle”. He said: “This pressure now needs to be unfolded, from Germany, from Europe in the alliance with other countries, and then we will see who is the stronger one in this arm wrestle.”

Canada’s new PM Mark Carney said the tariffs were “unjustified, unwarranted, and misguided”.

European Commission president Ursula von der Leyen said she was finalising counter-measures, adding: “We are in this together: if you take on one of us, you take on all of us. Our unity is our strength.”

Trump also slapped ten per cent tariffs on some of the most remote places on Earth including Heard Island and the McDonald Islands, an Australian territory in the Indian Ocean, which is only inhabited by penguins and seals.

Additional reporting by Jack Elsom and Noa Hoffman

BRITAIN is threatening tariffs on 8,000 US products including toilet seats — as Donald Trump’s trade war sent world economies down the pan yesterd