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.
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 daw...
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 Ti...
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 Monda...
The European Parliament’s trade chief has urged a temporary suspension of the EU–U.S. trade agreement approval, citing “tariff chaos” followin...
Further Iran-U.S. nuclear talks are scheduled in Geneva on Thursday (26 February) as diplomacy resumes over Tehran’s nuclear programme following ear...
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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