Pennsylvania Governor Josh Shapiro and his family evacuated during Passover after an alleged arson attack on their Harrisburg residence, with police alerting them at 2am.
The value of the US dollar has fallen in recent days to a new three-year low following the uncertainty over the impact of the Trump tariffs on the global economy.
Jamie Dimon, the head of JPMorgan Chase – one of the world’s biggest banks – says the United States’ economy is facing “considerable turbulence”.
Donald Trump announced a temporary 90-day suspension of certain tariffs less than a day after they came into effect. Many see it as the president backing down from his policy after US government bonds were being sold off, and the president likely under pressure from his rich and powerful friends (Elon Musk).
Whilst he came back from the brink for most countries he had hit, all countries (interestingly, Russia was not hit with tariffs) still face a blanket 10% tariff.
The administration intensified its stance on China by elevating tariffs on Chinese imports to 125%, underscoring a complex and strained U.S.- China trade relationship.
China responded firmly to the increased tariffs, maintaining a resolute position and implementing retaliatory measures. The Chinese Commerce Ministry announced an 84% tariff on all U.S. goods, signaling Beijing’s unwillingness to yield to U.S. pressure. This escalation has heightened concerns about a prolonged trade conflict between the world’s two largest economies.
The financial markets have reacted with notable volatility to these developments. Following the announcement of the tariff suspension, global markets experienced a relief rally. However, this optimism is tempered by underlying uncertainties, as analysts caution that the fundamental issues driving the trade tensions remain unresolved. The bond market, in particular, has exhibited signs of distress, with the U.S. 10-year Treasury yield climbing from under 4% to 4.5%, reflecting diminished confidence in U.S. fiscal stability.
Amid these economic fluctuations, there have been murmurs of potential market manipulation.
The current trajectory of U.S. trade policy, characterized by abrupt shifts and escalating tariffs, has prompted warnings from economic leaders. JPMorgan Chase CEO Jamie Dimon cautioned that the ongoing trade war could precipitate a U.S. recession this year.
Joseph Kent, chief of staff to the Director of National Intelligence, stated that intelligence is investigating potential FBI involvement in the January 6 riots during a Senate intelligence committee hearing.
The UK’s economic options are severely constrained due to high borrowing and record tax levels, limiting the government’s ability to respond to the economic shock caused by Trump’s tariff announcement.
Experts have warned investors about a ‘Black Monday’-like crash on April 7. On Sunday, U.S. stock futures plummeted, and the internet being as creative and hilarious as it is flooded Twitter/X with ‘Orange Monday’ memes.
White House aides expressed mixed signals about Donald Trump’s tariff policies, with some suggesting room for negotiation while others dismissed the prospect.
Cliff Notes Thousands participated in nationwide “Hands Off!” protests against Donald Trump and Elon Musk, with around 1,200 demonstrations organised across all 50 states, including…
Stocks slump – China to impose 34% levy as retaliation – China files lawsuit | US tariffs LIVE
The story that is dominating every news site – in print and online – today is, of course, the ongoing chaos facing the global stock markets following Donald Trump’s latest US tariffs.
Global stock markets experienced significant declines following President Trump‘s announcement of sweeping tariffs, including a 10% tax on imports from the UK.
Both US and European markets reported their worst one-day losses since the COVID-19 pandemic, raising concerns about a potential recession and international retaliation.
Friday’s UK headlines are similar to headlines from around the world: the fallout from Donald Trump’s tariffs after “trillions” have been wiped off the global stock markets.
On Wednesday, Trump announced a baseline tariff on almost every country in the world of at least 10% – whilst some countries face much higher levies, with the EU being hit with 20%.
Since the announcement, global markets have experienced significant declines, with both the US and European markets reporting their worst one-day losses since the COVID-19 pandemic and raising concerns about a potential recession and international retaliation. Economists are warning of a ‘spiral of doom’, suggesting that retaliatory measures could lead to further economic destabilisation.
Elsewhere, a probe into the bitter dispute surrounding Prince Harry’s charity Sentebale. The Charity Commission said it had opened a case to examine “concerns raised” about Sentebale, following claims made by its head, Sophie Chandauka. Prince Harry has said he hopes the watchdog will “unveil the truth”.
US President Donald Trump has dismissed at least six National Security Council officials, including David Feith and Brian Walsh, following a meeting with far-right activist Laura Loomer.
Russia, along with Cuba, Belarus, and North Korea, is excluded from Donald Trump’s new tariffs list, raising questions about preferential treatment for adversaries over allies.
The White House has said it will impose what they call reciprocal tariffs on roughly 60 of the “worst offenders”.
The UK is amongst some countries facing a baseline tariff of 10%
Donald Trump has implemented a 10% baseline tariff on all imports, with many trading partners facing significantly higher rates, prompting widespread global concern and backlash.
Trump announces fresh wave of US tariffs – Almost all of Thursday’s headlines are dissecting the tariffs announced by the US president yesterday. The UK was hit with a baseline 10% tariff, whilst the EU (who are preparing to retaliate) were hit with a 20% levy – some countries fared even worse with fees as high as 40%.
The UK newspapers generally express relief that the tariffs were not as bad for the UK as expected, with right-leaning media highlighting Brexit’s role in saving Britain from the 20% levy for the EU. The tariffs are set to come into effect on Saturday, with some headlines reporting there is still wiggle room for a deal to be carved out between the UK and US before the tax comes into effect.
Reports indicate that President Trump has informed his inner circle of Elon Musk’s anticipated reduced involvement in government, conflicting with Musk’s ongoing role leading efforts to cut US government spending.
Donald Trump has hinted at the possibility of seeking a third presidential term, despite the constitutional barrier of the 22nd Amendment, which limits presidents to two terms.
Trump is now holding up a large chart showing a table titled “Reciprocal Tariffs”, which compares tariffs imposed by other countries on the US versus Washington’s own levies.
“They’ve taken so much of our wealth away from us,” he says. “We’re not going to let that happen.”
“They established the income tax so that citizens, rather than foreign countries, would start paying the money necessary to run our government,” Trump says.
“That’s why effective at midnight we will impose a 25% tariff on all foreign made automobiles,” Trump says.
A look at the market jitters ahead of the new round of US tariffs – with US media speculating it is set to be a blanket 20% tariff on all non-American goods.
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