Death toll rises to 17 in South Korea as rains cause landslide and floods
Two people were confirmed dead and five missing in Gapyeong, South Korea, on Sunday, after heavy rain triggered landslides and flooding, raising the c...
U.S. President Donald Trump has directed his economic team to devise a reciprocal tariff plan, imposing matching duties on countries that charge tariffs on U.S. imports. The move, announced as part of Trump's broader trade policy overhaul, could escalate tensions with major global economies.
Trump signed a memorandum instructing officials to calculate reciprocal tariffs to counter existing duties and non-tariff barriers imposed on U.S. goods. While the order stops short of an immediate tariff hike, it launches an investigation into foreign trade policies that could take weeks or months to complete.
The White House strategy will initially focus on countries with the largest trade surpluses and highest tariff rates, including China, Japan, South Korea, and the European Union. Trump has also criticized India, citing its high tariffs on U.S. exports.
Markets reacted cautiously to the announcement, with Wall Street seeing modest gains, relieved that immediate tariffs were not enacted. However, analysts warn that the plan could fuel inflation and disrupt global supply chains.
Commerce Secretary nominee Howard Lutnick said the administration aims to finalize studies by April 1, coinciding with a deadline set for reducing U.S. trade deficits.
Trade experts note that implementing customized reciprocal tariffs poses a complex legal and logistical challenge. The White House is exploring various trade statutes, including Section 122 of the Trade Act of 1974, which allows for a temporary 15% tariff.
Trump has already imposed 10% tariffs on Chinese goods, steel and aluminum duties, and has placed a 30-day hold on tariffs for Canada and Mexico. Additional levies on cars, semiconductors, and pharmaceuticals are under consideration.
While the White House maintains that the policy aims to encourage trade negotiations, experts warn it could lead to retaliatory measures from U.S. allies and rivals, intensifying trade disputes.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Two people were confirmed dead and five missing in Gapyeong, South Korea, on Sunday, after heavy rain triggered landslides and flooding, raising the country’s storm-related death toll to 17.
U.S. President Donald Trump may meet Chinese leader Xi Jinping in South Korea or China this autumn, with talks expected around the late October APEC summit as both sides seek progress on ending their tariff dispute.
President Donald Trump announced on Sunday that he would intervene to assist Afghans who have been detained in the United Arab Emirates for years after fleeing their country when the Taliban seized control.
Bangladesh has signed a deal to import 700,000 tonnes of wheat annually from the United States over the next five years, aiming to ease trade tensions and secure tariff relief from the Trump administration, officials confirmed on Sunday.
Iran and the E3, Britain, France, and Germany, may hold nuclear talks next week, Tasnim reported, amid European warnings that failure to resume negotiations could trigger renewed international sanctions.
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