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Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad sayin...
U.S. President Donald Trump has signaled that auto tariffs could take effect on April 2, adding to a series of trade actions since his return to office. The move targets foreign vehicle imports as part of his push to reshape global trade and boost U.S. manufacturing.
Trump on Friday hinted at tariffs on foreign automobiles, saying they would be introduced the day after his cabinet submits trade policy reports. "Maybe around April 2," he told reporters, emphasizing his long-standing criticism of U.S. auto trade imbalances.
Since taking office, Trump has:
🔹 Imposed a 10% tariff on all imports from China
🔹 Delayed for a month a 25% tariff on Mexican and non-energy Canadian imports
🔹 Set March 12 for 25% tariffs on imported steel and aluminum
🔹 Ordered "reciprocal tariffs" on countries taxing U.S. goods
Trump argues these measures will boost U.S. manufacturing and create fairer trade conditions. However, businesses and analysts warn of economic uncertainty, inflation risks, and global trade tensions.
U.S. carmakers have expressed mixed reactions to the proposed auto tariffs. Ford CEO Jim Farley welcomed the review of foreign vehicle imports but admitted tariffs have added "a lot of cost and chaos." The American Automotive Policy Council, representing Ford, GM, and Stellantis, insists that vehicles meeting USMCA trade requirements should not face additional tariffs.
Under the US-Canada-Mexico Agreement (USMCA), vehicles with at least 75% of their parts sourced from North America are exempt from tariffs. However, Trump’s new tariff push could be a strategic move ahead of USMCA’s scheduled review in 2026. Analysts see it as an opening bid for renegotiation, despite Trump previously calling USMCA “the greatest” trade deal ever.
Trump’s latest directive orders economic advisers to draft reciprocal tariffs, due for review by April 1. With trade policies evolving rapidly, businesses and global partners are watching closely for what comes next in Trump's tariff strategy.
Overnight Iranian strikes on an air base in Jordan damaged multiple U.S. aircraft and left one without a wing, American media reported. Meanwhile, explosions were heard across parts of southern Iran according to local media reports.
Iranian President Masoud Pezeshkian arrived in New Delhi on Friday to attend the weekend BRICS summit, amid the ongoing U.S.-Iran conflict, joining a host of foreign dignitaries.
Ukrainian forces struck a Russian oil refinery in Siberia and a seaport in Dagestan in the past 24 hours, President Volodymyr Zelenskyy said. He will meet Canadian Prime Minister Mark Carney on Thursday to discuss air defences for Ukraine over winter.
Mexico and the U.S. are racing to secure a trade deal before the U.S. midterm elections in less than eight weeks, according to six sources familiar with the talks, with failed negotiations between Washington and Canada adding urgency.
A Russian strike on a gas station in Kyiv has killed two people, the city's Mayor Vitali Klitschko said in a statement on Telegram. In Russia, online marketplace Ozon has suspended operations in Saratov, southwestern Russia, following a drone strike on a warehouse in the region.
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad saying the strike originated from Iraq.
Russia's Defence Ministry said its forces struck two cargo vessels overnight in the Ukrainian Black Sea port of Chornomorsk, the Interfax news agency reported on Saturday.
U.S. President Donald Trump said on Saturday he would “love” to see British-run Northern Ireland unify with Ireland, remarks made during a visit to Dublin that drew a sharp response from pro-British unionists in Northern Ireland.
BRICS leaders have called for maximum restraint over the war in the Middle East, warning against actions that could further worsen tensions as the United States and Iran resume strikes against each other.
Dubai’s property market has spent years climbing. Now, for the first time since 2021, prices are moving in the opposite direction.
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