U.S. President Donald Trump on Tuesday doubled down on his global tariff campaign, warning China, the pharmaceutical industry, and foreign manufacturers of steep levies unless they strike new trade deals with the United States.
Speaking at a Republican fundraiser in Washington, Trump accused China of manipulating its currency to soften the blow of the 104% tariffs his administration has imposed on Chinese imports. He called the move "a trick in the book" and said it would backfire as China remains energy-dependent. "They have to buy oil. We don’t,” Trump said. “That’s where it hurts them.”
The president also signalled new tariffs are coming for another major sector: pharmaceuticals.
“We’re going to tariff our pharmaceuticals,” Trump declared. “Once we do that, they’ll come rushing back. We are the big market.”
He highlighted Taiwan Semiconductor Manufacturing Company (TSMC) as an example of economic leverage, claiming the firm agreed to invest $200 billion in Arizona without receiving U.S. subsidies. “All I said was, if you don’t build here, you’ll pay up to 100% tax,” Trump said. “No handouts.”
The remarks also included political overtones. Trump claimed all 50 U.S. states have shifted Republican and predicted a strong showing in the 2026 midterms. “They’re terrified our strategy will succeed,” he said, framing opposition to his policies as “treason.”
The comments come amid worsening market jitters over Trump’s sweeping tariffs, which have impacted global trade and driven Wall Street losses. Despite the backlash, the president maintains his stance: “We’re making $2 billion a day. They used to call that peanuts. Not anymore.”
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One person was killed and nearly a dozen hurt in a fresh attack on Riyadh's international airport on Sunday, Saudi authorities reported, a day after a strike claimed by Yemen's Houthis killed 13 people and wounded more than 300.
The Saudi-led coalition in Yemen said late Monday that it intercepted and destroyed two ballistic missiles launched by the Houthi group toward Khamis Mushait in southwestern Saudi Arabia.
Yemen's Houthis renewed warning to airlines, airport workers, and travellers against using Saudi airports, saying the warning should be taken seriously and that the kingdom “bore responsibility for failed interceptions”, a day after an attack on Riyadh's international airport that killed 12 people.
The Houthi movement has escalated their attacks on Saudi Arabia, targeting the airport in Riyadh and other cities, killing more than a dozen people.
The Kremlin on Monday rejected a 60-day ceasefire idea proposed by Ukrainian President Volodymyr Zelenskyy to allow his country to hold presidential elections, saying it wanted an overall peace deal instead.
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling to accept the energy ceasefire announced by U.S. President Donald Trump.
Climate activist Greta Thunberg joined high school students protesting outside a school in the Paris suburb of Saint-Denis on Tuesday, as a wave of student demonstrations continues across France.
North Korean leader Kim Jong Un has visited a newly opened defence museum displaying weapons developed under his leadership, including an intercontinental ballistic missile capable of reaching the United States.
Southeast Asian foreign ministers are set to discuss measures to tackle transboundary haze during preparatory meetings ahead of the ASEAN summit in November, as forest and land fires in Indonesia continue to affect air quality across the region, the Philippines said on Tuesday.
Britain's Prime Minister Andy Burnham has said the United Kingdom believes Iran was likely behind an alleged plot connected to RAF Fairford, a military airbase in Gloucestershire in England that has played a role in U.S. operations against Iran, escalating tensions between London and Tehran.
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