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.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Europe experienced its most extensive flooding since 2013 last year, with 30% of the continent’s river network impacted by severe floods, according to a joint report by the Copernicus Climate Change Service and the World Meteorological Organization.
A 5.2 magnitude earthquake hit San Diego County on Monday, shaking homes and disrupting daily life across the region. Originating near Julian, the tremor was felt in San Diego, Orange, and Los Angeles counties, with residents noting its intensity and duration.
A sandstorm in Najaf, Iraq, has drastically reduced visibility and disrupted daily life, causing major traffic problems and challenging both residents and authorities.
Talks between Washington and Tehran may be happening, but President Donald Trump says time is running out.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
Turkish Foreign Minister Hakan Fidan spoke with US Secretary of State Marco Rubio by phone, discussing the situations in Syria, Gaza, and efforts for a Ukraine ceasefire, according to diplomatic sources.
NORAD has monitored a Russian military aircraft operating in the Alaskan Air Defense Identification Zone, confirming it remained in international airspace and posed no threat.
The European Union is drafting its 17th package of sanctions against Russia, to be discussed at a foreign ministers' meeting in May, according to the bloc’s foreign policy chief Kaja Kallas.
A small plane crashed near Kopake, New York, on April 13, killing at 6 people. The Mitsubishi MU-2B aircraft, carrying six people, went down under unclear circumstances. This marks the second aviation accident in New York in a week, raising safety concerns.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 10th, covering the latest developments you need to know.
The death toll from the catastrophic roof collapse at a nightclub in Santo Domingo has risen to 98, with more than 160 people injured, according to Dominican authorities.
A quiet Thursday afternoon at St. Peter’s Basilica turned into something extraordinary, as visitors caught a rare glimpse of Pope Francis — not in his familiar white papal robes, but dressed in black trousers and a striped blanket.
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.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Turkish Foreign Minister Hakan Fidan spoke with US Secretary of State Marco Rubio by phone, discussing the situations in Syria, Gaza, and efforts for a Ukraine ceasefire, according to diplomatic sources.
NORAD has monitored a Russian military aircraft operating in the Alaskan Air Defense Identification Zone, confirming it remained in international airspace and posed no threat.
The European Union is drafting its 17th package of sanctions against Russia, to be discussed at a foreign ministers' meeting in May, according to the bloc’s foreign policy chief Kaja Kallas.
Europe experienced its most extensive flooding since 2013 last year, with 30% of the continent’s river network impacted by severe floods, according to a joint report by the Copernicus Climate Change Service and the World Meteorological Organization.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
Turkish Foreign Minister Hakan Fidan spoke with US Secretary of State Marco Rubio by phone, discussing the situations in Syria, Gaza, and efforts for a Ukraine ceasefire, according to diplomatic sources.
NORAD has monitored a Russian military aircraft operating in the Alaskan Air Defense Identification Zone, confirming it remained in international airspace and posed no threat.
The European Union is drafting its 17th package of sanctions against Russia, to be discussed at a foreign ministers' meeting in May, according to the bloc’s foreign policy chief Kaja Kallas.
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