NATO chief voices full confidence in Trump
On Wednesday, NATO Secretary General Mark Rutte expressed full confidence in U.S. President Donald Trump and defended his initiatives ahead of a plann...
U.S. President Donald Trump has directed his economic team to develop a plan for reciprocal tariffs on imports from countries that impose duties on U.S. goods, intensifying fears of a global trade war.
“On trade, I have decided for purposes of fairness, that I will charge a reciprocal tariff, meaning whatever countries charge the United States of America, we will charge them. No more, no less,” Trump said Thursday in the Oval Office.
The directive tasks Trump’s team with calculating tariffs that match those imposed by other countries, as well as counteracting non-tariff barriers such as stringent vehicle safety regulations and value-added taxes that make U.S. exports more expensive. The order, however, does not immediately implement new tariffs, instead initiating an investigative process that could take months.
Global Trade Implications
Key targets of this initiative include China, Japan, South Korea, and the European Union. Trump’s protectionist stance has sparked concern among U.S. allies and heightened fears of retaliatory measures. Economists warn that escalating trade tensions could fuel inflation, potentially impacting Federal Reserve decisions on interest rates.
Market reactions were mixed. While initial fears of immediate tariffs caused fluctuations, Wall Street stabilized, with U.S. stocks rising and Treasury yields falling. Global markets also saw gains, with a key stock index hitting a record high.
Commerce Secretary’s Role and Timeline
Howard Lutnick, Trump’s nominee for Commerce Secretary, emphasized that the administration would evaluate each country individually. Studies on the tariff imbalances are expected to be completed by April 1, aligning with Trump’s broader economic agenda to reduce trade deficits.
Trump acknowledged that tariffs could increase consumer prices in the short term but defended them as a necessary tool for long-term trade fairness. “Tariffs are great,” he remarked.
A White House official stated that the administration would prioritize countries with significant trade surpluses and high tariff rates. The goal is to counteract measures such as government subsidies, restrictive regulations, and exchange rate policies that disadvantage U.S. exports.
“They effectively don’t let us do business,” Trump said. “So we’re going to put a number on that that is a fair number. We’re able to accurately determine the cost of these non-monetary trade barriers.”
As the administration advances its trade agenda, the impact of reciprocal tariffs on global trade relations and the U.S. economy remains uncertain. Observers anticipate responses from affected nations, which could further complicate international trade dynamics.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
The International Court of Justice (ICJ) on Wednesday ruled that Israel is obliged under the Geneva Convention to permit and facilitate humanitarian aid from third states and neutral organisations,
On Wednesday, Russia reported that its military had carried out large-scale strikes on Ukraine’s energy facilities, while Ukraine said its forces had targeted a Russian chemical plant.
On Wednesday, NATO Secretary General Mark Rutte expressed full confidence in U.S. President Donald Trump and defended his initiatives ahead of a planned meeting with the Russian leader.
According to the UN, the majority of methane leaks identified by satellites — around 90% — are still not officially acknowledged by governments or oil and gas companies.
A bill extending Israeli law to the occupied West Bank, a move widely seen as tantamount to annexation of territory sought by Palestinians for a future state received preliminary approval from Israel’s parliament on Wednesday.
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