Donald Trump’s ongoing spat with the Federal Reserve boss caused the markets to panic this week, with a massive sell off and drop in the dollar. Things have settled once again, but the IMF has slashed the global growth forecast – with the US given the biggest downgrade among advanced economies.
Secretary of State Marco Rubio announced a restructuring plan to cut 15% of the State Department’s workforce by closing and consolidating over 100 offices globally.
Elon Musk plans to reduce his time in Donald Trump’s Department of Government Efficiency (DOGE) to focus more on Tesla, amidst a 71% drop in the company’s first-quarter profits and ongoing sales challenges influenced by tariffs.
The White House has expressed support for Defence Secretary Pete Hegseth amid reports that he shared sensitive military details in a second Signal messaging chat with family members, following a prior incident where information was shared with senior Trump administration officials.
The Mexican government has condemned a US advertisement warning against undocumented migration, asserting it contains a “discriminatory message” that undermines human dignity and could incite violence against migrants.
President Trump stated that the administration cannot provide trials for all deportees, claiming it would take “200 years” to do so.
US Students fear Trump crackdown following Harvard University stance against the Trump administration.
A US federal judge has warned that the Trump administration may face criminal contempt charges for not complying with his order to return deported individuals to the US, highlighting escalating tensions between the executive and judicial branches.
The White House is reviewing trade agreements from over 15 countries, with some announcements expected soon, according to Press Secretary Karoline Leavitt.
US Vice President JD Vance expressed optimism about a forthcoming trade deal between the US and UK, indicating productive negotiations with the UK government.
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”.
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