North American politics continues to feature heavily on the front pages as reports suggest a UK-US trade deal is a secondary priority, potentially harming the Labour government’s plans to secure a deal before the mid-May deadline. There are plenty of pictures of the Canadian election on the front pages as Mark Carney rides a patriotic surge to victory! Turns out Canadians don’t want to be bullied by Donald Trump and the threats of becoming the 51st state have forced the public into the arms of the Liberal party, which not long ago, looked certain to be defeated at the polls.
A US airstrike on a prison in Yemen reportedly killed at least 68 people, primarily African migrants, and left 47 others wounded, according to Houthi claims.
Global military spending surpassed $2.7 trillion in 2024, marking a 9.4% increase from the previous year, with over 100 countries raising their military budgets.
David Axelrod characterises the first 100 days of a presidency as a mere “hallmark holiday”, yet it remains an important barometer for US presidents’ early effectiveness.
Donald Trump’s tariffs and trade policies are prompting global economic policymakers to reassess their strategies while highlighting concerns about trade imbalances and reliance on a single economic partner, particularly China.
Politics continues to dominate the American headlines this morning, 24 April 2025, as Donald Trump signals the tariff war is slowing down, which has settled the markets a bit, along with Trump’s statement that he has no plans to fire the Federal Reserve boss, Jerome Powell.
Trump’s comments on Ukraine, and his new US-led deal, which would require Ukraine to hand over Crimea to Russia, are making national and international headlines. Trump has said he will walk away from Ukraine if a deal isn’t reached soon.
US Secretary of State Marco Rubio has stated that Iran must permanently abandon its nuclear enrichment activities to engage in fruitful negotiations with the Trump administration and avert military conflict.
US news is today heavily domianted by politics, tariffs and stock markets. The US President has clarified that he has no plans to fire Fed boss Jermone Powell despite complaining about his performance via Twitter/X.
The President has also hinted he may reverse his trade tariffs on China as the IMF downgrades the global economy forecasts and warns of a US recession.
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.