Markets fled to safety Thursday as Trump escalated tariffs on China to 125%, triggering a surge in gold, yen, and bonds. Despite a brief equity rally, investor confidence in U.S. trade policy and the dollar continues to erode.
Financial markets witnessed a swift flight to safety on Thursday after U.S. President Donald Trump intensified his trade war with China, sharply raising tariffs while simultaneously suspending levies on other nations for 90 days. Investors flocked to safe-haven assets such as the Japanese yen, Swiss franc, and gold, while U.S. Treasury bonds rallied, putting the dollar under broad pressure.
Despite Asian equities surging on hopes of eased trade tensions, Trump’s move to single out China with a staggering 125% tariff rate—up from 10%—sparked fresh market anxiety. The Chinese yuan briefly fell to its lowest level since 2007 before slightly recovering. Meanwhile, the Aussie and Kiwi dollars, initially hit due to close trade ties with China, regained momentum as the risk rally spread to Europe.
Analysts noted a growing crisis of confidence in U.S. trade leadership, citing the administration’s erratic policy shifts. ANZ analysts highlighted concerns over the long-term credibility of the U.S. dollar, while others warned of lasting economic damage.
With markets on edge, investors remain cautious, questioning whether temporary policy reversals can offset the uncertainty wrought by Trump’s aggressive trade manoeuvres.
A federal judge ruled that Homeland Security Secretary Kristi Noem likely exceeded her authority by revoking documents granted under the Temporary Protected Status program—offering relief to thousands of Venezuelans facing potential deportation.
Since taking office in January, Trump's sweeping tariff decisions, ranging from steel to smartphones have shaken markets, sparked global tensions, and triggered legal battles, with major duties hitting China, the EU, and even U.S. allies.
Australia is considering a formal dispute at the World Trade Organization over President Donald Trump's plan to double steel and aluminum tariffs, as Canberra warns of economic harm and prepares for upcoming talks.
China rejected U.S. President Donald Trump's accusations of breaching a recent trade agreement, labeling them as "groundless" and warning it will respond decisively to protect its economic interests.
U.S. Treasury Secretary Bessent said on Sunday that he expects President Donald Trump and Chinese President Xi Jinping to speak soon in an effort to resolve a growing dispute over critical minerals.
The Organization of the Petroleum Exporting Countries (OPEC) has commended President Ilham Aliyev of Azerbaijan for his "rational and balanced policy" in developing the country’s energy resources, particularly amid growing global demand for oil and gas.
Iranian Foreign Minister Abbas Araghchi has arrived in Egypt on a one-day visit and is scheduled to visit Lebanon on Tuesday on the second leg of his tour of the two Arab countries with which the Islamic Republic is re-adjusting its relations.
Kazakhstan’s Deputy Prime Minister and Foreign Minister Murat Nurtleu will make an official visit to the Islamic Republic of Iran on June 7, 2025, following an invitation from the Iranian government, the Ministry of Foreign Affairs of Kazakhstan announced on Monday.
The State Oil Company of Azerbaijan (SOCAR) and Canada’s Gran Tierra Energy Inc. signed a Memorandum of Understanding on the sidelines of the 30th Anniversary International Caspian Oil and Gas Exhibition held as part of Baku Energy Week.
Azerbaijan and Iran have reached a key agreement on the operation mode and water allocation of the Araz reservoir, following the 54th meeting of the Permanent Joint Commission on the shared use of the Araz River's water and energy resources, held in Baku.
On May 28, the inauguration ceremony of Lachin International Airport was held.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
As peace talks progress, voices from Yerevan, Tbilisi, and Baku reveal hopes, concerns, and expectations for a future shaped by trade, trust, and generational change in the South Caucasus.
The State Oil Company of Azerbaijan (SOCAR) and Canada’s Gran Tierra Energy Inc. signed a Memorandum of Understanding on the sidelines of the 30th Anniversary International Caspian Oil and Gas Exhibition held as part of Baku Energy Week.
Heavy flooding has wreaked havoc in southwestern China’s Yunnan province, destroying dozens of homes and vital infrastructure in the Nujiang Lisu Autonomous Prefecture, local authorities reported on Monday.
UN Headquarters in New York, powerful voices from France’s overseas territories accused Paris of sustaining colonial control under new names, demanding sovereignty, reparations, and justice for people of African descent.
Karol Nawrocki’s narrow win in Poland’s presidential race signals a sharp turn in tone toward both the European Union and Ukraine, raising questions over Warsaw’s future alignment in Central Europe.
In a significant development toward de-escalating the ongoing war, Russia on Monday formally presented Ukraine with a comprehensive peace proposal, outlining steps for a full ceasefire and a long-term peace agreement, according to Vladimir Medinsky, head of the Russian delegation.
The Organization of the Petroleum Exporting Countries (OPEC) has commended President Ilham Aliyev of Azerbaijan for his "rational and balanced policy" in developing the country’s energy resources, particularly amid growing global demand for oil and gas.
Iranian Foreign Minister Abbas Araghchi has arrived in Egypt on a one-day visit and is scheduled to visit Lebanon on Tuesday on the second leg of his tour of the two Arab countries with which the Islamic Republic is re-adjusting its relations.
Kazakhstan’s Deputy Prime Minister and Foreign Minister Murat Nurtleu will make an official visit to the Islamic Republic of Iran on June 7, 2025, following an invitation from the Iranian government, the Ministry of Foreign Affairs of Kazakhstan announced on Monday.
The State Oil Company of Azerbaijan (SOCAR) and Canada’s Gran Tierra Energy Inc. signed a Memorandum of Understanding on the sidelines of the 30th Anniversary International Caspian Oil and Gas Exhibition held as part of Baku Energy Week.
Azerbaijan and Iran have reached a key agreement on the operation mode and water allocation of the Araz reservoir, following the 54th meeting of the Permanent Joint Commission on the shared use of the Araz River's water and energy resources, held in Baku.
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