Trump calls for high-level Ukraine, Russia meeting
Donald Trump said talks between his envoy and Vladimir Putin made major progress toward ending the Ukraine war, urging Kyiv and Moscow to meet face-to-face.
In a dramatic about-face, U.S. President Donald Trump on Wednesday announced a 90-day pause on newly implemented tariffs for dozens of countries — a move that eased market turmoil but further escalated tensions with China.
The sudden shift came less than 24 hours after Trump’s sweeping tariffs took effect, sparking a days-long market selloff that wiped out trillions in global value. The S&P 500 surged 9.5% on the news, recovering ground after dipping below 5,000 for the first time in nearly a year.
While duties for most trading partners have been frozen, a 10% blanket tariff on all U.S. imports remains in effect. Canada and Mexico are still subject to 25% fentanyl-related levies unless their goods comply with USMCA rules of origin.
China, meanwhile, faces even steeper pressure. Trump announced the tariff on Chinese goods will rise to 125% — up from the 104% that came into force on April 2 — citing Beijing’s failure to back down and accusing it of currency manipulation.
“I thought people were jumping a little out of line,” Trump told reporters, hinting that the near-panic in markets influenced his decision. Treasury Secretary Scott Bessent framed the move as a planned strategy to pressure countries into talks.
“This was his strategy all along,” Bessent said. “And you might even say that he goaded China into a bad position.”
Still, businesses remain wary. Despite the market rally, Goldman Sachs lowered its recession forecast only slightly — from 65% to 45% — and warned of a 15% hike in overall tariff exposure.
Diplomatic efforts are underway, with U.S. negotiators now prioritising allies like South Korea, Japan and Vietnam. Talks may also touch on foreign aid and military ties.
But China, the U.S.'s second-largest import source, is not high on the list. “They want to make a deal,” Trump said. “They just don’t know how to go about it.”
For now, uncertainty lingers. Trump’s repeated reversals — this time following the steepest four-day market drop since early COVID — have left global capitals guessing.
Said Daniel Russel of the Asia Society: “Other countries will welcome the 90-day stay of execution — if it lasts. But the whiplash from constant zigzags creates more of the uncertainty that businesses and governments hate.”
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
In an expansive interview marking his first 100 days back in office, President Donald Trump sketched out an agenda that touches everything from punitive tariffs and China policy to cease-fire hopes in Ukraine and an overhaul of domestic programmes. Below are the highlights.
A deadly explosion at Iran’s Bandar Abbas port has left at least 40 dead, with more than 1,200 people injured, state media reported on Sunday, halting operations at one of the country’s most vital trade hubs.
For three generations, the Liebigs built railcars in Görlitz. Now, the factory that shaped their lives will produce parts for battle tanks.
North Korea has launched a new 5,000-tonne destroyer as part of Kim Jong Un’s plans to expand the country’s naval power far beyond its coastal waters.
Germany’s Social Democratic Party (SPD) has approved a coalition agreement with the conservative Christian Democrats (CDU/CSU), securing the final step needed to form a new government under Chancellor-designate Friedrich Merz.
Political directors from France, Britain, and Germany are scheduled to meet with Iranian officials in Rome on Friday, according to two diplomatic sources who confirmed the meeting to Reuters.
Meta, the parent company of Facebook, unveiled a free standalone artificial intelligence (AI) app for its Meta AI assistant on Tuesday, marking a significant move as part of the growing wave of new AI apps in the tech industry.
Russian President Vladimir Putin has signed a decree renaming Volgograd International Airport to its historical name of Stalingrad, a move made official late Tuesday.
Singapore’s parliamentary election, set for May 3, will see 11 political parties competing for the 2.76 million registered voters in the city-state, with a population of 6 million. Here are the key parties and their platforms:
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