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Global markets plunged as the US confirmed a staggering 145% tariff on Chinese imports, escalating the trade war despite initial optimism from President Trump's softer stance on other international tariffs. While Asian and European markets initially surged, US indices fell sharply, with the Dow dropping 1,746 points. Amidst the turmoil, international leaders expressed cautious optimism for negotiations, while oil prices also declined in response to the heightened tensions.
Global markets reacted sharply to escalating US-China trade tensions, with the US imposing a cumulative 145% tariff on Chinese imports, while China retaliated with 84% levies on US goods. Initially buoyed by President Trump's softer stance on other trade partners, US markets plummeted, with the S&P 500 down 5% and the Dow Jones losing 1,746 points. Oil prices also fell as investors reassessed the implications of the ongoing trade conflict.
President Donald Trump expressed reluctance to sell US Steel to Japan's Nippon Steel, stating it was "hard" for him to agree to a foreign purchase of the iconic brand. Instead, he feels more comfortable with Nippon Steel acting as an investor, following a review of the proposed takeover that was previously blocked.
Algeria is set to launch specialized investment funds aimed at supporting 20,000 startups by 2029, addressing financing challenges and diversifying funding sources. Two new funds will focus on conventional and renewable energy, following a recent initiative for AI and ICT. The ministry is partnering with international institutions to help local startups expand into African and Arab markets.
French President Emmanuel Macron's recent visits to Lebanon and Egypt signify a strategic push for stability in the Mediterranean, focusing on regional security and humanitarian aid. His efforts aim to empower local agency and foster partnerships, particularly in military and cultural sectors, while addressing Lebanon's political reforms and the disarmament of Hezbollah. Macron's approach emphasizes collaboration with historical allies to enhance geopolitical cooperation and support for the region's people.
Incident.io has successfully raised $62 million, achieving a valuation of $400 million. The funding aims to enhance the capabilities of IT teams, enabling them to respond swiftly and effectively when issues arise. This investment underscores the growing demand for tools that facilitate rapid problem resolution in technology environments.
Tokenized gold volume has reached $1 billion for the first time since the banking crisis in the U.S. in 2023. This milestone highlights a significant resurgence in interest and investment in tokenized assets, reflecting broader trends in the financial market.
Google has agreed to pay $100 million to settle a lawsuit alleging it overcharged advertisers and failed to provide promised discounts. The case, filed in 2011, claimed the company manipulated its pricing formula and breached contracts with advertisers. The settlement, pending judicial approval, will benefit those who used Google AdWords from 2004 to 2012, with plaintiffs' lawyers potentially claiming up to 33% of the settlement amount.
Trump's tariffs aim to generate revenue and create jobs, but economists widely criticize their feasibility. Meanwhile, countries like Saudi Arabia and China are rapidly advancing, challenging the notion that only liberal democracies can drive innovation and economic growth. As the US grapples with its own economic strategies, alternative models are emerging.
The World Trade Organization warns that an escalating US-China trade war could reduce global GDP by 7% and divide the economy into rival blocs. With tariffs on Chinese goods reaching 125%, the WTO emphasizes the need for dialogue to avoid severe economic fallout, particularly for developing nations. The situation poses risks to the fragile post-pandemic recovery, highlighting the importance of a cooperative approach to trade disputes.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
us china trade war escalates as tariffs reach 145 percent
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18:33 10.04.2025
us china trade tensions escalate as markets react to tariff changes
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Trump hesitant on US Steel sale to Japan but open to investment
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