Mounting fears of stagflation, driven by Trump's tariffs and softening economic indicators, are fueling market volatility and raising concerns about high inflation coupled with sluggish growth, though a severe crisis has not yet materialized.
As US support wavers, French President Macron and British PM Starmer spearhead a push for a Ukraine peace plan, proposing an initial month-long ceasefire, but doubts linger over Europe's ability to secure peace without American involvement amid a potential Republican split on Trump's Russia pivot.
President Trump invokes emergency powers to impose tariffs on imports from Canada and Mexico, citing their failure to curb drug trafficking and lethal drugs like fentanyl flowing into the U.S., which he deems a national security threat causing overwhelming crime and overdose deaths.
President Trump's imposition of steep tariffs on imports from key trade partners sparked retaliatory measures and ignited a trade war, causing market turmoil and major stock losses amid escalating tensions.
In a move to combat the opioid crisis, the President has decided to increase tariffs on Chinese products from 10% to 20%, citing China's failure to take sufficient measures to address the synthetic opioid supply chain that fuels the drug epidemic.
In retaliation against the U.S.'s unjustified tariffs on Canadian exports, Canada strongly condemns the move and imposes 25% tariffs on $155 billion worth of American goods, with $30 billion effective immediately and the remaining $125 billion in 21 days, until the U.S. trade action is withdrawn.
Microsoft urges the US government to ease semiconductor export restrictions, warning that the curbs could backfire by driving allies to seek chips from China, potentially boosting China's AI capabilities and self-reliance in a strategic misstep that undermines America's lead in the global AI race.
In an escalating trade war, President Trump imposed steep 25% tariffs on imports from key allies Canada and Mexico, while also doubling tariffs on Chinese imports to 20%, sending stock markets plunging amid fears of a global trade conflict.
Arrests in Singapore over potential unauthorized exports of Nvidia's AI chips to China have raised alarms, as analysts warn a comprehensive ban could cost the company billions in lost revenue this fiscal year, highlighting geopolitical tensions surrounding advanced technology.
Stock markets plunged on Friday, with the S&P 500 falling 1.76% and the Dow Jones Industrial Average dropping 649.67 points, as President Trump confirmed that 25% tariffs on imports from Mexico and Canada will take effect on Tuesday, dashing hopes of a last-minute deal to avert the full tariffs.