Markets tumble as China hits back at U.S. tariffs
Global markets plunged after China retaliated against U.S. tariffs, deepening fears of a drawn-out trade war and economic fallout.
Stellantis is pausing production in Mexico and Canada and laying off U.S. workers after Trump’s expanded tariffs hit the auto industry.
Automaker Stellantis says it is pausing production at one assembly plant each in Mexico and Canada, and temporarily laying off 900 workers at five U.S. facilities, following the announcement of tariffs by U.S. President Donald Trump.
This comes as Trump expanded tariffs to a 10% baseline on all imports. These levies follow the 25% duties on auto imports announced last week, which sent shockwaves through the global auto industry.
In a letter to employees, Antonio Filosa, Stellantis' chief operating officer for the Americas, said the company is "continuing to assess the medium- and long-term effects of these tariffs on our operations, but also have decided to take some immediate actions."
Stellantis said the Toluca Assembly plant in Mexico, where the Jeep Compass and Jeep Wagoneer S are produced, will shut down for the month of April. Workers at Toluca will continue to report to work and receive pay but will not produce vehicles.
Mexico’s President Claudia Sheinbaum said the production pause at the Stellantis plant in Mexico is temporary and that the company is not planning job cuts, following discussions with the firm through Economy Secretary Marcelo Ebrard.
While goods from Mexico and Canada that comply with the trade agreement between the three countries will largely remain exempt under Trump's order, auto exports, along with steel and aluminum, fall under separate tariff policies.
Aid groups in Myanmar’s worst-hit areas urgently need shelter, food, and water after a devastating 7.7 magnitude earthquake killed over 2,700 people. Rescue efforts face challenges due to ongoing civil war, damaged infrastructure, and restricted aid access, with the toll expected to rise.
The inaugural Samarkand International Climate Forum will kick off on 4th April at the Silk Road Samarkand Congress Center in Uzbekistan. The high-profile forum will be held under the theme "Central Asia Facing Global Climate Challenges: Consolidation for Shared Prosperity."
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
The Armenian armed forces attempted three reconnaissance drone flights over Azerbaijan Army positions near Gerenzur, but all were successfully intercepted. Meanwhile, Armenian units repeatedly fired on Azerbaijani positions from multiple regions, escalating tensions in the area.
Israel has intensified its ground offensive in northern Gaza, targeting Shejaiya and aiming to carve out broader security zones amid ongoing efforts to pressure Hamas.
South Korea’s top court has confirmed the impeachment of President Yoon Suk Yeol, ruling his martial law declaration violated the constitution and proper procedures.
Four private astronauts have completed a groundbreaking SpaceX mission, returning to Earth after orbiting from pole to pole and conducting experiments on human health in space.
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Indian Prime Minister Narendra Modi has arrived in Sri Lanka to strengthen ties and sign key agreements, including a defence pact and energy projects.
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