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Economists say levies of between 10% and 50% have dramatically added to the risk of a worldwide downturn
Global financial markets have been plunged into turmoil as Donald Trump’s escalating trade war knocked trillions of dollars off the value of the world’s biggest companies and heightened fears of a US recession.
As world leaders reacted to the US president’s “liberation day” tariff policies demolishing the international trading order, about $2.5tn (£1.9tn) was wiped off Wall Street and share prices in other financial centres across the globe.
Continue reading...© Photograph: Justin Lane/EPA
© Photograph: Justin Lane/EPA
The US president’s announcement has caused market chaos and threatens a trade war and US recession
Donald Trump’s announcement of a long slate of new tariffs on the US’s trading partners has caused chaos in global markets and threatens a global trade war and US recession.
Long trailed on his election campaign, Trump’s plans were even more sweeping than many had predicted: a baseline 10% tariff on all imports and higher tariffs for key trading partners, including China and the EU.
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© Composite: The Guardian/Getty Images
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The US president has expelled his own country from the rules-based global trade system that America itself created
For the world’s already embattled trading system, it is as though an asteroid has crashed into the planet, devastating everyone and everything that previously existed there. But there is this important difference. If an asteroid struck the Earth, the impact would at least have been caused by ungovernable cosmic forces. The assault on world trade, by contrast, is a completely deliberate act of choice, taken by one man and one nation.
Donald Trump’s decision to impose tariffs on every country in the world is a monstrous and momentous act of folly. Unilateral and unjustified, it was expressed on Wednesday in indefensible language in which Mr Trump described US allies as “cheaters” and “scavengers” who “looted”, “raped” and “pillaged” the US. Many of the calculations on which Mr Trump doled out his punishments are perverse, not least the exclusion of Russia from the condemned list. The tariffs mean prices are certain to rise in sector after sector, in the US and elsewhere, fuelling inflation and perhaps recession. Mr Trump will presumably respond as he did when asked about foreign cars becoming more expensive: “I couldn’t care less.”
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Continue reading...© Photograph: Ahn Young-joon/AP
© Photograph: Ahn Young-joon/AP
Impunity over Palestinian deaths in Gaza will lead to further cases like this massacre of rescue and healthcare workers
After 18 months of slaughter, it is still possible to be shocked by events in Gaza. More than 50,000 people have been killed, according to Palestinian health authorities. More are starving because Israel has cut off aid. The offensive is intensifying again – with 100 children killed or maimed each day since Israel resumed heavy strikes last month, the UN reports.
Even so, Israel’s killing of 15 Palestinian paramedics and rescue workers is particularly chilling. Though they died on 23 March, it took days for Israel to grant access to the site, the UN said. Another man was last seen in Israeli custody. Two grounds for seeing this not only as tragic but as a war crime stand out. The first is that the UN says the men were shot “one by one”, and a forensic expert said that preliminary evidence “suggests they were executed, not from a distant range”, given the “specific and intentional” locations of bullet wounds. Two witnesses said some of the bodies had their hands or legs tied. Prisoners are protected by the Geneva conventions. The second is that medics also enjoy specific protections.
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Continue reading...© Photograph: APAImages/REX/Shutterstock
© Photograph: APAImages/REX/Shutterstock
Apple a enregistré une perte de plus de 250 milliards de dollars de sa capitalisation boursière, avec une chute de ses actions atteignant 8,5 %. Ce déclin s’inscrit dans un contexte de turbulences de la bourse américaine, exacerbées par les nouveaux droits de douane imposés par Donald Trump. Les investisseurs ont réagi en retirant leurs […]
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The US president’s tariffs are almost certain to have dire consequences and he is not impervious to market decline or public opinion
So much for the idea that “liberation day” would free financial markets from their fear of the unknown. Publication of precise tariff rates, went a cheerful line of advance thinking, would at least allow investors to assess the probable trade effects on the basis of hard information. True optimists clung to the idea that Donald Trump would not wish to risk a truly severe market reaction.
That narrative was blown apart when the president reached for his pub-style display of wares. This really was a case of going back to the tariffs rates of the 1920s or 1930s. Not even the penguins of Heard Island and the McDonald Islands were spared.
Continue reading...© Photograph: Michael Probst/AP
© Photograph: Michael Probst/AP
US president had sued over denied allegations he took part in ‘perverted’ sex acts but UK case was thrown out last year
Donald Trump has been ordered by a judge in England to pay more than £620,000 in legal costs after unsuccessfully suing a company over denied allegations he took part in “perverted” sex acts.
The US president brought a data protection claim against Orbis Business Intelligence, a consultancy founded by a former MI6 officer, Christopher Steele, in 2022.
Continue reading...© Photograph: Saul Loeb/AFP/Getty Images
© Photograph: Saul Loeb/AFP/Getty Images
Von der Leyen calls tariffs ‘a major blow to world economy’ while calling for last-ditch negotiations
European leaders have condemned Donald Trump’s tariffs as “fundamentally wrong” and creating an “immense difficulty for Europe”, while appealing for last-ditch negotiations to avert an all-out trade war.
The French president, Emmanuel Macron, said Trump’s decision to impose tariffs was “brutal and unfounded” and appeared to call for a suspension of French investment in the US until the tariffs were clarified.
Continue reading...© Photograph: Mohammed Badra/AP
© Photograph: Mohammed Badra/AP
Apple a enregistré une perte de plus de 250 milliards de dollars de sa capitalisation boursière, avec une chute de ses actions atteignant 8,5 %. Ce déclin s’inscrit dans un contexte de turbulences de la bourse américaine, exacerbées par les nouveaux droits de douane imposés par Donald Trump. Les investisseurs ont réagi en retirant leurs […]
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L’article Apple perd 250 milliards de dollars de sa capitalisation boursière après les droits de douane de Trump est apparu en premier sur iPhoneAddict.fr.
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