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.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 16th of December, covering the latest developments you need to...
President Donald Trump has filed a defamation lawsuit against the BBC over edited footage of a speech that made it appear he encouraged supporters to storm the U.S. Capitol 6 January 2021, marking an international extension of his ongoing battle against media coverage he deems inaccurate or biased.
U.S. President Donald Trump confirmed that his administration is examining whether Israel violated the Gaza ceasefire agreement by conducting an airstrike on Saturday (13 December) that killed Hamas leader Raad Saad.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
U.S. President Donald Trump said on Monday (December 15) that an agreement aimed at ending Russia's war in Ukraine is closer than ever, as his team reported progress after talks in Berlin.
Russia’s human rights commissioner, Tatyana Moskalkova, has said that Ukraine has not provided Moscow with a list of thousands of children it alleges were taken illegally to Russia, despite the issue being discussed during talks in Istanbul.
Syrian President Ahmad al-Sharaa has offered condolences to President Donald Trump following an ISIS attack near the ancient city of Palmyra that killed two U.S. soldiers and a civilian interpreter, Syrian and U.S. officials said Sunday.
At least 17 people, including students, were killed and 20 others injured after a school bus fell off a cliff in northern Colombia on Sunday, authorities said.
At least 37 people have been killed in flash floods triggered by torrential rain in Morocco's Atlantic coastal province of Safi, Moroccan authorities said on Monday (15 December).
At least 37 people have died and dozens of others were injured after flash floods swept through Morocco’s Atlantic coastal city of Safi on Sunday, authorities said.
Leaders including Ukraine's Volodymyr Zelenskyy arrived at The Hague on Tuesday to launch an International Claims Commission to compensate Kyiv for hundreds of billions of dollars in damage from Russian attacks and alleged war crimes.
As Prime Minister Narendra Modi embarks on his diplomatic tour to strengthen bilateral ties with Oman, Ethiopia, and Jordan, the significance of these relationships cannot be overstated.
European Commission President Ursula von der Leyen highlighted key developments in the ongoing peace efforts to end the war in Ukraine, stressing the importance of a robust peacekeeping force and the alignment between Ukraine, Europe, and the United States.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 16th of December, covering the latest developments you need to know.
Thousands gathered at vigils across Australia on Monday evening to honour the 15 people killed in a terror attack at Sydney's Bondi Beach on Sunday. The mass shooting at a Hanukkah celebration is being treated as terrorism, prompting the Australian national cabinet to tighten gun laws.
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