live U.S. and Iran agree to ceasefire deal, parties to meet in Switzerland on Friday
U.S. President Donald Trump said a preliminary agreement to end the war in the Gulf has been signed by the U.S. and Iran, though details have yet to b...
China announces additional tariffs of 10% to 15% on U.S. agricultural products, effective March 10, 2025, in response to increased U.S. tariffs. Analysts warn of potential global economic disruption.
In a significant escalation of trade tensions, China announced on March 4, 2025, that it will impose additional tariffs ranging from 10% to 15% on a variety of American agricultural products. These measures are set to take effect on March 10, 2025, and are viewed as a direct response to the United States' recent increase in tariffs on Chinese imports.
The Chinese Ministry of Finance specified that the new tariffs will target key U.S. agricultural exports:- 15% Tariffs will be applied to imports of U.S. chicken, wheat, corn, and cotton. 10% Tariffs will be targeting U.S. sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products.
Notably, goods already in transit to China before the implementation date will be exempt from these tariffs until April 12, 2025.
This development follows President Donald Trump's decision to increase tariffs on Chinese imports from 10% to 20%, effective March 4, 2025. The U.S. administration cited national security concerns, including issues related to drug trafficking and illegal immigration, as justification for the tariff hike.
The affected U.S. agricultural products represent a substantial portion of America's exports to China. For instance, in 2024, the United States exported approximately $14 billion worth of soybeans to China, accounting for nearly 60% of total U.S. soybean exports. Similarly, U.S. pork exports to China were valued at around $1.3 billion during the same period. The newly imposed tariffs are expected to make these American products less competitive in the Chinese market, potentially leading to a significant decrease in export volumes.
The escalating trade tensions have raised concerns about potential impacts on global economic stability. Analysts report that this tit-for-tat escalation could disrupt supply chains, increase costs for consumers, and strain diplomatic relations between the two economic powerhouses. The agricultural sector, in particular, may experience further strain as access to one of its largest markets becomes more restricted.
The situation is being closely monitored internationally, by stakeholders and experts - with many expressing hopes for a swift resolution to prevent further economic disruption. Both nations have expressed a willingness to negotiate, but concrete steps toward de-escalation have yet to materialize. As the March 10 implementation date approaches, businesses and consumers alike are bracing for potential disruptions and price increases. The international community is hopeful for a resolution that will stabilize the global economic landscape.
In a significant escalation of trade tensions, China announced on March 4, 2025, that it will impose additional tariffs ranging from 10% to 15% on a variety of American agricultural products. These measures are set to take effect on March 10, 2025, and are viewed as a direct response to the United States' recent increase in tariffs on Chinese imports.
The Chinese Ministry of Finance specified that the new tariffs will target key U.S. agricultural exports:- 15% Tariffs will be applied to imports of U.S. chicken, wheat, corn, and cotton. 10% Tariffs will be targeting U.S. sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products.
Notably, goods already in transit to China before the implementation date will be exempt from these tariffs until April 12, 2025.
This development follows President Donald Trump's decision to increase tariffs on Chinese imports from 10% to 20%, effective March 4, 2025. The U.S. administration cited national security concerns, including issues related to drug trafficking and illegal immigration, as justification for the tariff hike.
The affected U.S. agricultural products represent a substantial portion of America's exports to China. For instance, in 2024, the United States exported approximately $14 billion worth of soybeans to China, accounting for nearly 60% of total U.S. soybean exports. Similarly, U.S. pork exports to China were valued at around $1.3 billion during the same period. The newly imposed tariffs are expected to make these American products less competitive in the Chinese market, potentially leading to a significant decrease in export volumes.
The escalating trade tensions have raised concerns about potential impacts on global economic stability. Analysts report that this tit-for-tat escalation could disrupt supply chains, increase costs for consumers, and strain diplomatic relations between the two economic powerhouses. The agricultural sector, in particular, may experience further strain as access to one of its largest markets becomes more restricted.
The situation is being closely monitored internationally, by stakeholders and experts - with many expressing hopes for a swift resolution to prevent further economic disruption. Both nations have expressed a willingness to negotiate, but concrete steps toward de-escalation have yet to materialize. As the March 10 implementation date approaches, businesses and consumers alike are bracing for potential disruptions and price increases. The international community is hopeful for a resolution that will stabilize the global economic landscape.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf.
Israeli Prime Minister Benjamin Netanyahu has told U.S. President Donald Trump that Israel does not consider itself bound by a Lebanon-related provision in an emerging agreement with Iran, according to Israeli officials.
A strong 6.7-magnitude earthquake struck Indonesia's Sulawesi island early Tuesday, killing at least one person and injuring four, according to emergency authorities.
Seven people have been arrested in Italy over suspected sabotage attacks on high-speed railway lines during the Winter Olympics earlier this year.
Pakistan's heavy reliance on imported energy was laid bare by the U.S.-Iran conflict, which disrupted regional supplies, drove up costs and exposed vulnerabilities in the country's energy security. However, a proposed peace agreement now offers hope for economic relief.
The UK has unveiled a major new package of sanctions against Russia, targeting the shadow fleet, military supply chains and financial networks that support the Kremlin's war in Ukraine.
Russian sailors aboard a naval frigate fired warning shots at a civilian yacht in the English Channel on Tuesday after the vessel reportedly came too close, according to a source familiar with the incident.
Leaders of the Group of Seven (G7) have called for a strong and coordinated international response to the Ebola outbreak in the Democratic Republic of the Congo, urging countries to commit more resources to contain the spread of the virus.
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