Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods and raising the stakes in a trade war that threatens to up-end global supply chains.
the 's retaliation intensified the economic turmoil unleashed by Trump's tariffs, which has seen markets tumbling and foreign leaders puzzling how to respond to the biggest disruption to the world trade order in decades.
U.S. markets opened lower on Friday. The Dow Jones Industrial Average fell 100.2 points at the open, while the S&P 500 fell 12.5 points at the bell.
"Recession risk is much, much higher now than it was a couple weeks ago," said Adam Hetts, global head of multi-asset at Janus Henderson.
The U.S. administration was sticking to its guns on Friday, touting its discussions with a number of countries on new trade deals which it says will justify its dramatic upheaval in policy.
"We are doing really well on our TARIFF POLICY. Very exciting for America, and the World!!! It is moving along quickly," Trump posted on social media on Friday.
However, the tit-for-tat tariff increases by the U.S. and China stand to make goods trade between the world's two largest economies impossible, analysts say. That commerce was worth more than $650 billion in 2024.
Global stocks fell, the dollar slid and a sell-off in U.S. government bonds picked up pace on Friday, reigniting fears of fragility in the world's biggest bond market. Gold, a safe haven for investors in times of crisis, scaled a record high.
Türkiye’s first domestically produced electric SUV, the Togg T10X, is expected to hit the German market by the end of 2025, German daily Bild repor...
Syria is set to boost its daily electricity supply from around four hours to nearly ten, as natural gas from Azerbaijan begins flowing through a newly...
Three Indigenous First Nations in Saskatchewan are receiving a combined CAD$431 million (US$313 million) in compensation from the Canadian government,...
The United States has warned of reported attempts to bribe Haitian officials in a bid to destabilise the country, amid growing political turmoil and g...
A federal jury in Miami has found Tesla partially liable for a fatal crash involving its Autopilot system, ordering the company to pay $243 million in...
Türkiye’s first domestically produced electric SUV, the Togg T10X, is expected to hit the German market by the end of 2025, German daily Bild reported.
Syria is set to boost its daily electricity supply from around four hours to nearly ten, as natural gas from Azerbaijan begins flowing through a newly restored pipeline via Türkiye, according to a senior official from the Syrian Ministry of Energy.
Three Indigenous First Nations in Saskatchewan are receiving a combined CAD$431 million (US$313 million) in compensation from the Canadian government, marking one of the largest settlements to date over historic breaches of treaty commitments.
The United States has warned of reported attempts to bribe Haitian officials in a bid to destabilise the country, amid growing political turmoil and gang violence.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Syria is set to boost its daily electricity supply from around four hours to nearly ten, as natural gas from Azerbaijan begins flowing through a newly restored pipeline via Türkiye, according to a senior official from the Syrian Ministry of Energy.
Three Indigenous First Nations in Saskatchewan are receiving a combined CAD$431 million (US$313 million) in compensation from the Canadian government, marking one of the largest settlements to date over historic breaches of treaty commitments.
The United States has warned of reported attempts to bribe Haitian officials in a bid to destabilise the country, amid growing political turmoil and gang violence.
A federal jury in Miami has found Tesla partially liable for a fatal crash involving its Autopilot system, ordering the company to pay $243 million in damages.
U.S. President Donald Trump said he heard that India has stopped buying oil from Russia, describing it as a “good step” — though he admitted the information is unconfirmed.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment