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.
The Louvre Museum in Paris was closed on Sunday after thieves broke in and stole “priceless” jewellery from the Napoleon collection, the French go...
Former French president Nicolas Sarkozy said he is not afraid of going to prison, days before beginning a five-year sentence over his 2007 campaign fi...
Israel launched air strikes and artillery fire on Gaza on Sunday, in what officials called a response to militant attacks, as the U.S.-mediated ceasef...
Israeli Prime Minister Benjamin Netanyahu said the Rafah border crossing between Gaza and Egypt will remain closed until Hamas returns the bodies of d...
Millions of Americans took to the streets for “No Kings” rallies across all 50 states, denouncing what they called the corruption and authoritaria...
Israel launched air strikes and artillery fire on Gaza on Sunday, in what officials called a response to militant attacks, as the U.S.-mediated ceasefire came under renewed strain.
The Louvre Museum in Paris was closed on Sunday after thieves broke in and stole “priceless” jewellery from the Napoleon collection, the French government said.
Former French president Nicolas Sarkozy said he is not afraid of going to prison, days before beginning a five-year sentence over his 2007 campaign financing case linked to Libya.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
The Louvre Museum in Paris was closed on Sunday after thieves broke in and stole “priceless” jewellery from the Napoleon collection, the French government said.
Former French president Nicolas Sarkozy said he is not afraid of going to prison, days before beginning a five-year sentence over his 2007 campaign financing case linked to Libya.
Millions of Americans took to the streets for “No Kings” rallies across all 50 states, denouncing what they called the corruption and authoritarianism of President Donald Trump.
Türkiye is ready to assume a de facto guarantor role if a two-state solution in Palestine is implemented, Foreign Minister Hakan Fidan said on Saturday.
President Donald Trump announced that U.S. forces have destroyed a “drug-carrying” submarine travelling toward the United States on what he described as a “well-known narcotrafficking route.”
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