U.S. stocks tumbled on Thursday after the White House clarified that tariffs on Chinese imports will total 145%, not the previously stated 125%, reigniting investor fears over the global trade outlook.
The market losses accelerated after the White House issued a clarification on President Donald Trump’s latest tariff move. While Trump had originally stated that Chinese goods would face a 125% tariff, the administration confirmed on Thursday that the final rate will be 145%.
The earlier 125% figure, which Trump had posted on social media and mentioned during a press conference on Tuesday, was already higher than any previous U.S. tariff rate on Chinese goods. It sparked brief panic across global markets before investors recovered on hopes the escalation might be temporary or subject to negotiation.
However, Thursday’s clarification by the White House dashed those hopes. Officials explained that the 125% figure only accounted for the latest round of increases, and when combined with prior tariffs already in effect, the total effective rate on most Chinese imports is 145%.
"While yesterday seemed to be a significant rally in the face of good news in terms of the potential for negotiations, the bad news is the trade war with China continues to escalate," said Art Hogan, chief market strategist, B Riley Wealth.
Even a better-than-expected U.S. inflation report failed to lift markets. Investors remain concerned that the steep tariffs will disrupt global supply chains, drive up prices for consumers, and hurt U.S. businesses dependent on Chinese goods.
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A British national was among at least 19 people killed when a passenger bus plunged off a mountain highway into the Trishuli river in Nepal before dawn on Monday (23 February), authorities said. A New Zealander and a Chinese national were among those injured.
Against a backdrop of mounting environmental pressure across Central Asia, the Kazakh Ministry of Ecology and Natural Resources has announced that the Regional Ecological Summit (RES) 2026 will take place from 22–24 April in Astana.
Iran has signed a secret €500 million arms deal with Russia to rebuild air defences, weakened during last year’s war with Israel, the Financial Times has reported. The agreement, signed in December in Moscow, will see Russia deliver 500 Verba launch units and 2,500 9M336 missiles over three years.
European Union Foreign Policy Chief Kaja Kallas has said the bloc is unlikely to reach agreement on a new package of sanctions against Russia at Monday’s meeting of EU foreign ministers, as continued Hungarian opposition keeps consensus out of reach.
A seven-month-old Japanese macaque has drawn international attention after forming an unusual bond with a stuffed orangutan toy after being rejected by its mother.
Divers have recovered the bodies of seven Chinese tourists and a Russian driver after their minibus broke through the ice of on Lake Baikal in Russia, authorities said.
President Donald Trump said on Saturday (21 February) that he will raise temporary tariffs on nearly all U.S. imports from 10% to 15%, the maximum allowed under the law, after the Supreme Court struck down his previous tariff program.
Pakistan said it carried out cross-border strikes on militant targets inside Afghanistan after blaming a series of recent suicide bombings, including attacks during the holy month of Ramadan, on fighters it said were operating from Afghan territory.
Iran announced on Saturday (21 February) that it has designated the naval and air forces of European Union member states as “terrorist entities” in a reciprocal move after the EU blacklisted the Islamic Revolutionary Guard Corps (IRGC).
A British national was among at least 19 people killed when a passenger bus plunged off a mountain highway into the Trishuli river in Nepal before dawn on Monday (23 February), authorities said. A New Zealander and a Chinese national were among those injured.
European Union Foreign Policy Chief Kaja Kallas has said the bloc is unlikely to reach agreement on a new package of sanctions against Russia at Monday’s meeting of EU foreign ministers, as continued Hungarian opposition keeps consensus out of reach.
Further Iran-U.S. nuclear talks are scheduled in Geneva on Thursday (26 February) as diplomacy resumes over Tehran’s nuclear programme following earlier mediation efforts. But will the talks move Iran-U.S. negotiations closer to a deal, and what should be expected from the meeting?
China says it's making a "full assessment" of the U.S. Supreme Court's tariff ruling and urged Washington to lift "relevant unilateral tariff measures" on its trading partners, the Chinese commerce ministry said in a statement on Monday (23 February).
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