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.
Belarus has released 123 prisoners, including opposition leader Maria Kalesnikava and Nobel Peace Prize laureate Ales Bialiatski, following an agreeme...
Migration isn’t driven only by politics or social issues. In the era of climate change, the environment itself is becoming a reason to leave home....
Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladi...
Two Syrian security personnel and several U.S. troops were injured on Saturday after a joint patrol came under gunfire near the city of Palmyra in cen...
U.S. President Donald Trump on Friday responded to the release of new photographs from the estate of Jeffrey Epstein. Trump said he had not seen the p...
Belarus has released 123 prisoners, including opposition leader Maria Kalesnikava and Nobel Peace Prize laureate Ales Bialiatski, following an agreement with the United States to ease sanctions on the country’s potash exports.
Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladimir Putin. The talks took place on the sidelines of the international Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday (12 December).
Two Syrian security personnel and several U.S. troops were injured on Saturday after a joint patrol came under gunfire near the city of Palmyra in central Syria, local media reported.
U.S. President Donald Trump on Friday responded to the release of new photographs from the estate of Jeffrey Epstein. Trump said he had not seen the photos but downplayed their significance, stating that the images were “no big deal.”
Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
The Oligarch’s Design is an investigative documentary exploring how financial power, political influence and carefully constructed narratives can shape conflict and public perception.
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
The resignation of Bulgaria's government on Thursday (11 December) puts an end to an increasingly unpopular coalition but is likely to usher in a period of prolonged political instability on the eve of the Black Sea nation's entry into the euro zone.
An extratropical cyclone has caused widespread disruption across Brazil’s São Paulo state, with powerful winds toppling trees and power lines, blocking streets and leaving large parts of the region without electricity.
Belarus has released 123 prisoners, including opposition leader Maria Kalesnikava and Nobel Peace Prize laureate Ales Bialiatski, following an agreement with the United States to ease sanctions on the country’s potash exports.
Migration isn’t driven only by politics or social issues. In the era of climate change, the environment itself is becoming a reason to leave home.
Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladimir Putin. The talks took place on the sidelines of the international Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday (12 December).
Two Syrian security personnel and several U.S. troops were injured on Saturday after a joint patrol came under gunfire near the city of Palmyra in central Syria, local media reported.
U.S. President Donald Trump on Friday responded to the release of new photographs from the estate of Jeffrey Epstein. Trump said he had not seen the photos but downplayed their significance, stating that the images were “no big deal.”
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment