News.Life

Prof Yunus Concludes Japan Tour and Returns Home

DIWIDA.NEWS asia, diplomacy and diplomats, international economics, international relations, politics

, May 31 -- Chief Advisor Professor Muhammad Yunus departed from Tokyo on Saturday heading back home after completing his four-day official visit to Japan.


 At 11:20 am Tokyo time, the Chief Advisor left Narita International Airport bound for Dhaka aboard a Singapore Airlines flight, wrapping up an exceptionally fruitful journey, according to remarks made by his Deputy Press Secretary, Abul Kalam Azad Majumder, to UNB.


 He mentioned that Professor Yunus is set to arrive at Hazrat Shahjalal International Airport at 10:40 PM.


 Professor Yunus and the Japanese Prime Minister plan to discuss enhanced collaboration during their meeting on Friday.


 During his tour on Friday, on the third day, Chief Advisor Professor Muhammad Yunus had a bilateral meeting with Japanese Prime Minister Ishiba.


 The two leaders committed to finalizing an Economic Partnership Agreement between Japan and Bangladesh within the next few months, aiming to strengthen economic and commercial ties between these two amicable countries.


 The Japanese Prime Minister additionally pledged $1.063 billion to Bangladesh aimed at providing budgetary assistance and advancing railway projects.


 Subsequently, three agreements via exchanged notes were concluded within the same day. These covered the Development Policy Loan aimed at economic reform and enhancing climate resilience (worth 418 million USD), the loan designated for the Joydebpur-Ishwardi dual-gauge double-track railway initiative (valued at 641 million USD), as well as the grant supporting human development scholarships (amounting to 4.2 million USD).


 On the same day, the Chief Adviser spoke at the 'Bangladesh Business Seminar,' during which both nations inked six Memorandums of Understanding covering economic, investment, and various sectors of collaboration.


 On Thursday, Bangladesh and Japan inked two memorandums of understanding (MOUs) aimed at improving the capabilities of Bangladeshi workers and easing their job opportunities in Japan, reflecting the nation’s labor shortfall.


 Professor Yunus engages in two-way discussions with the Prime Minister of Japan


 The accords were finalized during a human resources conference organized by the Bangladesh Embassy in Japan, which took place in Hirakawacho, within Chiyoda Ward, Tokyo, with Chief Advisor Professor Muhammad Yunus present.


 Previously, during the program, representatives from Japan's government and private sector declared their intention to bring in approximately 100,000 employees from Bangladesh within the upcoming half-decade as part of an effort to tackle Japan’s increasing labor shortfall.


 On the same day, the Chief Advisor gave the main address at the 30th Nikkei Forum: The Future of Asia.


 During the margins of the Nikkei Forum, Professor Yunus met with the ex-Malaysian Prime Minister Mahathir Mohamad and encouraged him to back Bangladesh’s application for ASEAN membership.


 On Friday, Professor Yunus was awarded an honorary doctorate degree by Soka University for his significant contributions to social innovation and worldwide progress.


 Professor Yunus, who was honored with the Nikkei Asia Prize in 2004, reached Tokyo on Wednesday.

Prof Yunus Concludes Japan Tour and Returns Home

, May 31 -- Chief Advisor Professor Muhammad Yunus departed from Tokyo on Saturday heading back home after completing his four-day officia...

China Demands U.S. Shows Sincerity Before Tariff Talks Resume

DIWIDA.NEWS government, international economics, news, politics, u.s. china relations

<img data-document-id="cms/api/amp/image/AA1E5Lnc" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1E5Lnc.jpg"/>
<div class="content count-br">
 
 
 Beijing [
 China
 ], May 3 (ANI):
 China
 's
 Ministry of Commerce
 On Friday, they stated that the nation is presently assessing the circumstances following several recent efforts by the United States to open discussions about tariffs via different official avenues, as reported by Xinhua.
 
 
 A spokesman for the ministry stated that the U.S. had single-handedly started both the tariff and trade disputes. If Washington desires negotiations, they should show good faith through practical steps like rectifying their incorrect policies and removing the unilateral tariffs.
 
 
 Stating that
 China
 has noticed the
 US
 The spokesperson emphasized that constant discussions regarding modifications to their tariff policies have been ongoing. They added, according to Xinhua, that "should negotiations or dialogues occur under these circumstances, and the U.S. fails to correct its mistaken unilateral tariffs, this would indicate a total absence of good faith and severely damage reciprocal confidence."
 
 
 On April 28, earlier, the Chinese Foreign Ministry refuted
 US
 President
 Donald Trump
 CNN reported that he claimed his Chinese counterpart, Xi Jinping, had contacted him, reaffirming that no discussions took place between the two countries to address the tariff dispute.
 
 
 The statement from Chinese Foreign Ministry spokesman Guo Jiakun was made following Trump’s comments during an interview with Time magazine where he mentioned that Xi had contacted him, which occurred the previous week.
 
 
 During a routine press briefing, Guo Jiakun stated, "To my knowledge, there hasn’t been any recent telephone conversation between the leaders of both countries."
 
 
 He emphasized, "I wish to underscore that
 China
 And the United States is not involved in discussions or talks regarding the tariff matter."
 
 
 Based on publicly accessible documents, Xi and Trump last communicated on January 17, just prior to the transition.
 US
 The leader took office for his second term.
 
 
 As per a fact sheet from the White House,
 China
 'S countermeasures have led to tariffs as high as 245 percent on goods imported into the United States. Before this recent adjustment, a tariff of 145 percent was imposed on Chinese products exported to the United States. (ANI)
 
 
</div>
Provided by Syndigate Media Inc. (
Syndigate.info
).

China Demands U.S. Shows Sincerity Before Tariff Talks Resume

Beijing [ China ], May 3 (ANI): China 's Ministry of Commerce On Friday, they stated that the nation is pres...

China's Leader Concludes Southeast Asia Tour, Emphasizing Beijing's Reliability Amid U.S. Tariff Pressures

DIWIDA.NEWS diplomacy and diplomats, economics, international economics, international relations, politics

<div class="entry-content first-article-node">
 
 Chinese President Xi Jinping concluded his three-country Southeast Asian trip with a visit to Cambodia on Friday, highlighting China's steadfastness amid regional economic concerns triggered by U.S. President Donald Trump’s suggested tariffs.
 
 <div>
 
 Over the last ten years, China has significantly boosted its presence in the area primarily through leveraging its considerable economic power. Currently, Beijing is positioning itself as a provider of stability and reliability amid uncertainties created by Trump’s tariffs, which pose risks to regional economies focused on exports, with the U.S. typically being their biggest customer.
 
 
 Cambodia is dealing with some of the highest reciprocal tariff rates suggested by Washington. On top of the general 10% tariff imposed by Trump, Cambodia could face an additional 49% tariff on its exports to the U.S. when his 90-day suspension period ends. As for the countries toured by Xi Jinping, Vietnam may encounter a tariff rate of 46%, whereas Malaysia might have to deal with one at 24%.
 
 </div>
</div>

 "The scheduling of this visit is remarkably opportune for China, coming right after the announcement of Trump’s tariffs, which has led to controlled unease in Cambodia and Vietnam... and turmoil in Malaysia,” stated Astrid Norén-Nilsson, a senior lecturer specializing in contemporary Southeast Asian studies at Sweden’s Lund University, during an emailed interview conducted on Thursday.


 Equipped with the moral authority and goodwill of an unwavering ally and dependable trade partner, Xi Jinping is ready for his journey.


 During his visits to Vietnam and Malaysia, Xi stressed the importance of enhancing relations, focusing specifically on boosting trade and investments. He also highlighted the necessity of combating unilateral actions and protectionist policies while supporting the global trading framework.


 The summary of the visit released on Friday by Cambodia’s Foreign Affairs Ministry primarily emphasized bilateral relations, with only minimal reference to the trade crisis. However, China's state-run Xinhua news agency reported that Xi addressed the same trade issues during this stop as he did previously.


 "The historic visit not only reinforced the steadfast dedication to the unbreakable bond between Cambodia and China but also significantly bolstered and expanded the Comprehensive Strategic Partnership and mutually beneficial collaboration between both nations," stated the Cambodian announcement.


 While he was visiting, Xi had an official meeting with King Norodom Sihamoni and also met with Prime Minister Hun Manet and Senate President Hun Sen, who happens to be Hun Manet’s father and previously served as prime minister. This trip marked Xi’s return to Cambodia for the first time since 2016.


 Xi and Hun Manet also oversaw the signing of 37 agreements related to investments, commerce, education, banking, media, youth activities, farming, healthcare, water management, travel, gender issues, and various other topics.


 The details of the largest agreement were unveiled on Friday—the signing of a public-private partnership contract aimed at financing Cambodia’s substantial $1.156 billion Funan Techo Canal initiative. This project, initiated last year, faced an abrupt halt shortly after the commencement ceremony.


 The 151-kilometer (94-mile) long canal would connect a tributary of the Mekong River to a harbor on the Gulf of Thailand.


 For 13 continuous years, China has held the position of Cambodia’s top trading partner, with bilateral trade amounting to $17.83 billion in 2024, although this exchange heavily favors China. Additionally, over these same 13 years, China has been the leading provider of foreign direct investment into Cambodia. Moreover, it plays a significant role as an aid contributor and stands out as Cambodia’s principal debtor.


 In relation to societal and developmental concerns, the Foreign Ministry’s statement subtly drew a comparison with stances taken by the United States, stating, “both parties recognized the worldwide menace presented by climate alteration and pledged to enhance environmental conservation efforts as well as promote cooperation in clean energy initiatives.”


 China has also been assisting Cambodia in addressing its issue of removing land mines leftover from past military confrontations, along with collaborating in healthcare. However, the reduction in foreign aid under the Trump administration has had an impact on these areas and others.


 The declaration also stated that "both parties concurred with enhancing the collaboration framework between the military forces of the two nations even further."


 China provided financial support for expanding the Ream Naval Base located on Cambodia’s southern coastline, sparking concerns that this might turn into a key base for the Chinese Navy within the Gulf of Thailand.


 The statement failed to address the core problem. Cambodia has consistently refuted any claims of an accord giving China exclusive rights or facilitating the creation of a foreign military installation.


 Cambodia has declared that warships from allied nations are invited to use its newly constructed pier, as long as they adhere to specific requirements. On Tuesday, Japan revealed plans for two of its minesweepers to arrive at the Ream facility over the weekend—the first such visit by a foreign naval force following the completion of the enhancement project.

Provided by SyndiGate Media Inc.
Syndigate.info
).

China's Leader Concludes Southeast Asia Tour, Emphasizing Beijing's Reliability Amid U.S. Tariff Pressures

Chinese President Xi Jinping concluded his three-country Southeast Asian trip with a visit to Cambodia on Friday, highlighting China...

Trump's Tariff Tsunami: Shaping the Global Economy

DIWIDA.NEWS global economy, international economics, international trade, politics, us economy

<img data-document-id="cms/api/amp/image/AA1COZBc" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1COZBc.jpg"/>
<div>
 
 Eddie Cross
 
</div>

 Surely, every large institution requires an overhaul and assessment periodically, and I'm certain the Federal Administration was overdue for such scrutiny.


 However, there were minimal signs of the tariff campaign that was forming in the President’s thoughts. Without delay, within weeks, the globe faced an onslaught of fresh and proposed tariffs on trade, which disrupted global trade stability, dismantled the World Trade Organization’s system for managing trade and ensuring market accessibility.


 We should not overlook the significance of his actions for those of us observing this game from the fringes. Following World War II, the United States rose to become the unchallenged head of the Free World and constructed the biggest national economy in history. In this capacity, it aided in reconstructing the economies of Germany and Japan and supported overall recovery in Europe through the Marshall Plan. The U.S. offered unparalleled leadership and set an exemplary standard globally.


 Advancing the process further, the United States played a pivotal role in founding the United Nations and facilitating negotiations for the establishment of international financial systems aimed at stabilizing and bolstering the worldwide economy. This led to the inception of organizations such as the World Bank, the International Monetary Fund, and later the World Trade Organization. Headquartered in cities like New York and Washington, D.C., these initiatives laid down frameworks that have evolved into today’s interconnected network of countries dedicated to upholding a rules-based global order, ensuring fair competition among all nations involved.


 Over the past 75 years, remarkable transformations have occurred. Global commerce has expanded swiftly, distributing resources and chances worldwide. This progress has helped lift billions from poverty, sustained peace in Europe up till recent times, resolved many ideological disputes, and established democratic and free-market ideals across nearly every nation. Throughout these developments, the United States served as the driving force, offering both material support and intellectual guidance.


 In just a few weeks, Trump has tried to dismantle the entire system based on the mistaken idea that protectionism and isolation will lead the way forward. His aim is to increase America’s wealth further and withdraw into an economic and political shell.


 Following Nixon and Deng Xiaoping’s efforts to reintegrate China into the global community post-1975, the United States fostered China’s growth as its strongest rival by granting it entry into American markets and technological resources. Having devastated Vietnam and Cambodia along with several smaller ASEAN nations, the U.S. then rebuilt these regions, significantly boosting employment. Countries such as Bangladesh and Lesotho, which were once among the least developed, became key players in international trade due to these changes, thereby improving overall quality of life for many residents.


 In the United States once again, both Trump and those who follow him fail to grasp that tariffs serve not just as a tool for trade warfare, but also impose an additional cost on all Americans. Given that prior to this deadlock U.S. taxes typically stood at around 2.5 percent, such tariffs have the potential to push the U.S. economy toward a downturn following many years of robust expansion. The notion that this approach can resurrect the traditional economic model which established America’s dominance globally is entirely misguided. On the contrary, the U.S. economy continues to lead worldwide with respect to productivity and growth, generating more than 250,000 fresh job opportunities each month! This success stems from Americans adapting to the modernized economy centered on technological advancements rather than relying solely on industries like iron ore mining and petroleum extraction. Choosing isolationism would inevitably result in reduced rates of economic progress—or even stagnation—and consequently diminish income levels while simultaneously inflating expenses.


 Yet, where is the America that once was known to me—a profoundly Christian land whose agriculture sustained global populations? An altruistic nation unafraid to step up during genuine crises. In 2007 and 2008 right here in Zimbabwe, we found ourselves as an utterly failed state. Schools shut down, hospitals overwhelmed with deceased patients; cholera struck over 150,000 people within our capital alone. Shops lacked basic provisions, homes had no running water, gas stations ran dry. Half a million individuals fled annually due to dire economic conditions. At this time, ours became one of the most dangerous places globally for young children and expectant mothers.


 Suddenly realizing the magnitude of the issues and how they affected both their society and economy, the South Africans intervened and started compelling the dominant political class to implement reforms. This led first to a fairly open election in 2008, which saw the MDC winning decisively. Following this, pressure mounted as ZANU attempted to annul the outcome, ultimately resulting in the formation of a Government of National Unity (GNU). Concurrently, USAID took action—without being officially asked—and arranged food provisions for much of the populace. Consequently, hundreds of thousands of tons of food assistance were dispatched to Southern Africa’s harbors before being transported to Zimbabwe, providing sustenance to more than seventy-five percent of the country’s inhabitants.


 The sole factor enabling our survival and maintaining stability came as the President of South Africa addressed our political issues. In 2009, when a Government of National Unity took office, Western nations—led significantly by the United States—took collective action under an informal coalition dubbed "the Fishmongers," named for their initial gathering spot at a local eatery. Through this alliance, substantial support amounting to more than $4 billion was provided to assist our recovery. By 2013, we had regained enough self-sufficiency so that both American assistance along with contributions from international organizations like the World Bank receded into less prominent roles.


 What stood out regarding this aid was the remarkable lack of emphasis on acknowledgment or gratitude from those receiving help. Assistance arrived with absolutely no strings attached and required nothing in return. The primary initiative by USAID received additional support through Christian organizations based in the U.S. and Canada, providing not only food but also various types of aid. Another significant demonstration of American benevolence occurred under President George W. Bush’s leadership as AIDS spread globally; he approved funding for costly HIV/AIDS treatment programs. In Zimbabwe alone, there were approximately 1.5 million individuals living with HIV at the time. Many lives have been saved since then due to these treatments being provided free of charge.


 Russia and other communist nations like China, Cuba, and North Korea did not participate in these humanitarian initiatives led by the USA and Europe. In virtually every global crisis, a recurring element has been food stamped with labels from the World Food Program or USAID, most of which was financed by the U.S. government. However, this support now faces jeopardy due to a U.S. administration prioritizing "America First."


 The sad reality is that few acknowledge how, being the leading economic power globally, the U.S. could leverage its influence to liberalize its markets towards goods from abroad that can be manufactured more cheaply elsewhere. Free trade and market-based policies haven’t just rescued countless people from extreme poverty; they’ve also bolstered America’s own economy in myriad ways. The dominance of the U.S. dollar worldwide isn’t mere happenstance—it stands strong partly due to the country’s pivotal role as both a foundation stone and steadfast ally within the global financial system.

Provided by Syndigate Media Inc. (
Syndigate.info
).

Trump's Tariff Tsunami: Shaping the Global Economy

Eddie Cross Surely, every large institution requires an overhaul and assessment periodically, and I'm certain the Federal Adm...

Is the US Tariff Reprieve Just a False Dawn for Smaller Asian Nations?

DIWIDA.NEWS asia, business, economics, international economics, politics

Trump's tariff pause offers Asian nations a glimmer of hope, but uncertainty looms, as trade talks could squeeze low-income economies further

 Asian investors breathed easier following statements from US President
 Donald Trump
 paused most "reciprocal"
 trade tariffs first thing on Thursday morning
 , instilling hope among various nations — driven to the limits of their financial acumen — to secure a more favorable agreement with the United States.


 Small Asian economies, from
 Bangladesh
 to
 Vietnam
 faced considerable difficulties following Trump’s announcement of extensive trade tariffs the previous week. Nonetheless, it remains premature to declare victory since the U.S. President has merely provided a 90-day delay, which means exports remain uncertain.
 US
 Market overshadowed by uncertainty.


 At first, Washington declared a wide array of tariffs the previous week, with some rates reaching up to 49 percent.
 Cambodia
 and 46 percent for Vietnam, and 17 percent for
 the Philippines
 and 10 percent for
 Singapore
 - possibly resulting in significant changes to the Asia-Pacific supply chain.


 Are you looking for insights into the most significant issues and developments globally? Find your answers here.
 SCMP Knowledge
 Our updated platform features handpicked content including explainers, FAQs, analyses, and infographics, all provided by our prestigious team.


 This suggests that countries implementing lower tariffs might draw industries away from nearby regions. Nevertheless, an important issue lingers: How safe would these countries feel if one of their neighbors were facing significant turmoil or crisis?


 The reports suggest that Vietnam and
 Thailand
 have initiated discussions with US authorities, and
 Indian
 Representatives remain optimistic about reaching an agreement. However, a major worry is that each country might have diminished bargaining power when dealing with Trump’s tough business tactics.

<div class="image-inline-container">
 <img data-document-id="cms/api/amp/image/AA1CI1eg" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CI1eg.jpg"/>
</div>

 Trump's "reciprocal" tariffs align with his election campaign slogan of "Make America Great Again", and fundamentally differ from a typical win-win negotiation strategy.


 Biswajit Dhar, a prominent professor at New Delhi's Council for Social Development, warned that nations might end up losing more than they achieve in upcoming trade negotiations.


 Washington's tariff threats have already led to unexpected alliances.
 Japan, China, and South Korea will hold talks.
 However, there is no sign that other Asian countries have started working together to enhance their negotiating power.


 The approaching tide of trade talks will considerably impact the lives of millions. Numerous lower-income nations are already experiencing financial strain because of reduced U.S. assistance for essential services like healthcare and hygiene infrastructure.


 After Trump imposed tariffs, Asian exports – particularly in the garments industry – have seen a standstill. This is because U.S. purchasers began asking for reduced prices on costlier shipments.

<div class="blockquote-quote">
 The clothing industry works with narrow profit margins. Due to the tariffs, many businesses can neither cover increased expenses nor provide additional discounts.
</div>
<div class="blockquote-author">
 Tian Lin, an associate professor specializing in economics at INSEAD
</div>

 "In nations that export garments, small manufacturing facilities might be forced to close. Given that this industry typically operates with minimal profit margins, the additional tariffs mean that numerous businesses can neither cover increased expenses nor provide extra reductions. Consequently, this situation could result in employment cuts, particularly affecting those earning lower wages," stated Lin Tian, an assistant professor of economics at INSEAD, when addressing questions regarding exports from countries like Bangladesh, India, and Vietnam.


 She mentioned that exporters with slim profit margins may find it difficult to meet requests for reduced prices, which could lead to losing contracts or shutting down operations. Additionally, she pointed out that uncertainty surrounding trade policies and economic forecasts will likely hinder investments, causing companies to postpone improvements and growth initiatives.


 Similar dynamics are expected to apply to various sectors despite variations in their supply chains, including industries like electronics.
 mobile phones
 where components come from various countries before being put together in assembly centers such as Vietnam,
 Malaysia
 or India, Tian said.


 Small and medium-sized producers — who constitute about 97 percent of the businesses in these sectors —
 Asean
 region, according to a
 United Nations
 The Development Program report indicates that there is minimal adaptability to handle increasing expenses should tariffs be introduced.


 Tian cautioned that in the near future, we might observe a reduction in supplies or postponed deliveries as companies revise their agreements. Should the trade conflict expand and become more widespread globally, it has the potential to jeopardize the sustainability of crucial supply chains entirely.

<div class="methode-html-wrapper oembed-wrapper">
 <img data-document-id="cms/api/amp/video/AA1CDP6i" data-reference="video"/>
</div>

 The possibility of the trade war escalating further still exists, particularly as the U.S. intensifies its stance against
 China
 , raising tariffs to over 125 percent from 104 percent while suspending duties for other countries.
 China has responded with tariffs of 84 percent.
 On American products, starting Thursday.


 Additionally, on Wednesday, the
 European Union
 approved its initial series of countermeasures in response to the U.S. tariffs on steel and aluminum.


 The potential for smaller Asian countries to navigate this volatile trading environment hinges on their capacity to mutualize strength through collective support, akin to Aesop’s tale of a bunch of sticks that remains indestructible once tied up as one.


 More Articles from SCMP


 European leaders intend to visit Beijing in July for a summit meeting with Xi Jinping.


 Singapore's highest-ranking officials, including the Prime Minister, criticize former NMP Calvin Cheng regarding his Gaza posting.


 Parker Posey's twin brother Christopher is a lawyer who was raised alongside her in the Southern United States. This background influenced The White Lotus star's accent for the series, and they both have similar ways of thinking.


 'Game of strategic resilience': Can China outmaneuver the U.S. in an extended trade war?


 The article initially appeared on the South China Morning Post (www.scmp.com), which is the premier source for news coverage of China and Asia.


 Copyright © 2025. South China Morning Post Publishers Ltd. All rights reserved.

Is the US Tariff Reprieve Just a False Dawn for Smaller Asian Nations?

Trump's tariff pause offers Asian nations a glimmer of hope, but uncertainty looms, as trade talks could squeeze low-income economies fu...

Hong Kong Shoppers Face Soaring Prices on Imports as Tariffs Approach

DIWIDA.NEWS business, commerce, economics, global economy, international economics

Lipstick, footwear, apparel, and Nintendo games have become pricier; however, products originating from mainland China remain at their original prices for now.

 International sellers have increased costs for items spanning lipstick, footwear, and apparel to
 Nintendo
 In reaction to the extensive tariffs imposed by the United States on various trading partners globally, a legislator from Hong Kong mentioned that goods coming into the region from mainland China have not been affected yet.


 The action taken by international retailers was in response to an executive order issued by the US President.
 Donald Trump
 Last week, this led to concerns about potential hikes in prices for imported products due to a new 34 percent tariff on Chinese goods taking effect on Wednesday, along with additional levies on imports from other trading partners.


 Analysts stated on Tuesday that Hong Kong shoppers making purchases online faced difficulties as e-commerce platforms directly absorbed additional expenses regardless of their customers' locations.


 Are you looking for insights into the most significant issues and global developments? Find your answers here.
 SCMP Knowledge
 Our updated platform features handpicked content including explainers, FAQs, analyses, and infographics, all provided by our acclaimed team.


 They had
 earlier warned
 The extensive U.S. tariffs could lead to a detrimental loop where escalating costs for imported items and reduced consumer expenditure leave Hong Kong exporters grappling with decreased demand and possible hikes in interest rates, making survival challenging.


 Trump also
 closed a trade exemption
 Known as "de minimis," this exemption from import duties applies to packages from the mainland and Hong Kong with values of $800 or below, coming into effect on May 2nd.

<div class="methode-html-wrapper oembed-wrapper">
 <img data-document-id="cms/api/amp/video/AA1CvhG7" data-reference="video"/>
</div>

 Goods imported via postal services and valued at or below US$800 will now incur a duty fee set at either 30 percent of their value or US$25 per item. This rate will increase to US$50 per item effective from June 1st.


 Key exports from Hong Kong to the U.S., particularly electronics, are anticipated to face significant challenges since this nation represents the city’s second largest export destination.


 Several international retailers have already increased their prices due to impending US tariffs. One such company is the Singapore-based shoe brand Anothersole, which informed its clients via email on Tuesday about the price hikes set to take effect once the tariff implementation policies came into play.


 "The necessity to revise our pricing comprehensively might arise in order to maintain our operations, uphold our workforce, and continue providing the standard of service you deserve," it stated.


 We also commit: should the global community shift back toward more stable and equitable trade policies, we will definitely reassess and reduce our pricing wherever possible.


 A customer from the Hong Kong branch mentioned that they immediately purchased a pair of shoes online once they noticed the price hike alert.


 On Amazon’s site, businesses quickly raised prices on numerous products by $5 to $15 each night in expectation of tariffs. These products included bathroom exhaust fans, LED light bulbs, writing pens, painter's tape, clothing, footwear, and more.


 On an online beauty platform, the cost of a particular Givenchy lipstick increased by 5 percent, going up from US$340 to US$360.


 The Japanese gaming corporation Nintendo announced on Friday that it was
 delaying pre-orders
 Following the announcement of their highly awaited Switch 2 console, they also evaluated the impact from Trump's tariffs, which would subject Japan to a 24 percent duty.


 However, the firm disclosed that
 Mario Kart World
 The price would be set at US$79.99, which is approximately 14% more than the highest-priced Nintendo-published title for theSwitch.
 Tears of the Kingdom
 .


 Peter Shiu Ka-fai, a legislator representing the wholesale and retail sectors, stated that goods coming from mainland China might not experience significant price hikes thanks to Hong Kong’s status as a free trade port. However, he warned that consumers purchasing items sourced internationally could see higher costs.


 He stated that consumers buying items from abroad will probably encounter higher costs regardless of their origin. However, domestic products transported from the mainland may avoid both tariffs and fees associated with smaller shipments.


 However, Shiu cautioned that Hong Kong consumers could still experience price hikes on imported mainland products if international suppliers increased their pricing for export items destined for other global markets to compensate for reduced orders coming from the United States.


 More Articles from SCMP


 As retaliation from tariffs mounts, Trump shifts his attention to China.


 In 2024, Hong Kong’s health authorities handed out 31,945 penalties for littering.


 U.S. legislators resubmit legislation that could lead to the closure of three Hong Kong trade offices in America.


 SCMP Top Picks: Gamblers aiming to depart Happy Valley with a royal fortune


 The article initially appeared on the South ChinaMorning Post (www.scmp.com), which is the premier source for news coverage of China andAsia.


 Copyright © 2025. South China Morning Post Publishers Ltd. All rights reserved.

Hong Kong Shoppers Face Soaring Prices on Imports as Tariffs Approach

Lipstick, footwear, apparel, and Nintendo games have become pricier; however, products originating from mainland China remain at their origi...

WSJ Editors Hint: Trump Might Not Be as Unaware as Feared

DIWIDA.NEWS economic policy, government, international economics, news, politics

<img data-document-id="cms/api/amp/image/AA1CDcYr" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CDcYr.jpg"/>


 The editorial board of the traditionally conservative Wall Street Journal, for a long time
 one of the most severe critics
 following President Donald Trump's tariff policies, let out a sigh of relief after Trump
 announced
 On Wednesday, he announced that he would lower the "reciprocal tariff rate" to 10 percent for all nations except China for a duration of three months. This move imposes a significant levy on imported goods, yet this tax will be notably reduced—at least temporarily—from what had been predicted to potentially trigger an economic downturn before the end of the year.


 Initially, Trump intended to implement varying rates.
 ranging between 10% and 49%
 Depending on the size of the U.S. trade deficit with the specific country, he asserts that this break will provide nations with an opportunity to negotiate with him.


 The markets cheered with a stock market surge fueled by the hope that maybe Mr. Trump has some awareness of the harm he’s inflicting," noted the board. "The sell-off in dollar-denominated assets subsided, albeit partially, and the increase in the 10-year Treasury yield slowed down. This could hardly serve as stronger proof that markets see Mr. Trump’s tariffs as the primary danger to global economic stability.


 
 Interested in getting more up-to-date political news?
 Tap here for the newest stories from Raw Story.
 


 
 ALSO READ:
 
 'Supported our oppressor': Supporters of MAGA express outrage over Trump aide’s recent actions


 Nevertheless, the board stated that even with the market rally, the "chaos caused by tariffs" is not yet concluded.


 "The administration appears inconsistent with its messaging. Shortly after Treasury Secretary Scott Bessecker informed bankers that the economy was ‘in fairly good condition,’ he downplayed the recent turmoil in the bond market as typical trading activity. So, the question remains: Why did they decide to halt new tariffs?" the editorial board noted.


 And then there's China, where the trade war is still very much ongoing.


 He initiated the most recent conflict by imposing an additional 34% tariff atop those already enforced, and China retaliated on Tuesday with a reciprocal measure. In response, President Trump increased the rate by another 50%, resulting in a cumulative U.S. tariff of 104% on Chinese products. Consequently, Beijing countered by boosting their tariff by 50% as well, setting it at 84% on all American goods exported to China, along with introducing various regulatory obstacles targeting U.S. businesses. Following this escalation, Mr. Trump raised the tariffs on Chinese imports to 125%.


 If Trump genuinely aims to disentangle the U.S. economy from China—an enormous and challenging task—he ought to focus on lowering trade barriers with Europe, Latin America, and other American allies, as stated by the board. However, he is only somewhat diminishing the impact of the new trade obstacles he’s erecting.


 “Never wager against America,” as the saying goes, and typically international investors avoid it,” the board determined. “The fact that they are being provoked into doing otherwise underscores the severity of Mr. Trump’s error with tariffs. What he requires is a shift in policy, rather than a temporary halt.”

<div class="RecommendedLinks">
 <h2>
 Recommended Links:
 </h2>
 <ul>
 <li>
 Blinking indicators": WSJ editorial board urges Trump to alter his stance due to "economic downturn concerns
 </li>
 <li>
 Trump 'blinked' before his tariffs could cause real damage: WSJ editorial board
 </li>
 <li>
 'Step carefully warned' WSJ op-ed cautions Trump's 'ineffective jabs' likely to 'boomerang'
 </li>
 <li>
 The conservative Wall Street Journal criticizes Republicans who are considering 'sinking' Trump's legislative plans.
 </li>
 <li>
 Grave concerns realized": Conservative WSJ criticizes Trump for allowing Cabinet member to act irresponsibly
 </li>
 </ul>
</div>

WSJ Editors Hint: Trump Might Not Be as Unaware as Feared

The editorial board of the traditionally conservative Wall Street Journal, for a long time one of the most severe critics following ...

IMF Strikes Preliminary Deal for $20 Billion Bailout with Argentina

DIWIDA.NEWS economic policy, international economics, macroeconomics policy, news, politics

<img data-document-id="cms/api/amp/image/AA1CyAGe" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CyAGe.jpg"/>

 The
 International Monetary Fund
 On Tuesday, they announced that they have come to an initial, staff-level accord with financially strained Argentina regarding a $20 billion rescue package, offering a much-needed respite for libertarians.
 President
 Javier Milei as he aims to upend the nation's traditional economic framework.


 As an accord at the level of senior personnel, this bailout plan still needs the concluding endorsement from the IMF's governing council. This body was slated to convene within the upcoming days for deliberation.


 The fund's statement provides a reprieve for President Milei, who has tackled inflation and steadied Argentina's economy through a free-market austerity approach that contrasts sharply with the uncontrolled borrowing policies of his leftist populist forebears.


 The International Monetary Fund has commended Milei's achievement in reducing Argentina’s budget shortfall, yet it hasn’t moved forward with providing a fresh loan to the nation which owes more than anyone else to the IMF. This entity has extended 22 loans to Argentina since 1958.


 In order for Argentina to attain its first budgetary surplus in nearly twenty years, Milei has dissolved various governmental bodies, resulting in the dismissal of numerous civil servants and the abolition of subsidies and price regulations. However, lacking funds from external financiers, he hasn’t managed to replenish Argentina’s dwindling foreign exchange reserves, crucial for settling debts and easing the nation's prolonged stringent capital control measures.


 Exchange restrictions stop businesses from transferring earnings overseas, deterring international investments.


 "The accord enhances the authorities' notable initial success in steadying the economy," stated the IMF in an announcement regarding the approval of the loan through a 48-month plan.


 The Argentine authorities, who had been involved in negotiations for several months, did not respond right away.


 Whether it’s news, politics, travel, sports, culture, or climate – The Independent offers a variety of free newsletters tailored to your preferences. To get the stories you're interested in delivered directly to your inbox along with additional content, simply click.
 here
 .

IMF Strikes Preliminary Deal for $20 Billion Bailout with Argentina

The International Monetary Fund On Tuesday, they announced that they have come to an initial, staff-level accord with financially strai...

UK-India Trade Deal Near Completion, But Border Tax Tensions Persist

DIWIDA.NEWS business, international economics, international relations, international trade, politics

<img data-document-id="cms/api/amp/image/AA1CDf5X" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CDf5X.jpg"/>

 <div class="section1">
 <div class="Normal">
 
 Substantial headway has been achieved in the developing free trade pact between the United Kingdom and India, with 90% of the negotiations reportedly concluded, said British authorities during a confidential meeting with companies earlier this week, as reported by The Guardian. This information was reiterated during a conversation involving representatives from the UK Department for Business and Trade and business heads on Tuesday, when they were advised that crucial sections of the accord had been finalized.
 
 
 But not everything is signed off yet. Sticking points remain—especially around tariff rules for whisky, automobiles, and pharmaceutical products.
 
 
 <h2>
 Mobility breakthrough unlocks progress
 </h2>
 A significant obstacle related to mobility and visa accessibility for Indian professionals has allegedly been "mostly addressed," according to a government source speaking to The Guardian.
 
 
 “Almost there. Closer than we have ever been before, yet discussions at the governmental level can be double-edged swords,” the source noted, encapsulating the guarded hope within Whitehall circles.
 
 
 The mobility issue has long been one of the more delicate parts of the talks, with India pushing for better movement of its skilled workforce. Resolving it could help unlock broader cooperation across services, investment, and digital trade.
 
 
 <h2>
 Big wins for whisky and cars on the horizon
 </h2>
 Should the deal close, it is expected to bring steep tariff cuts for UK exports such as Scotch whisky and luxury vehicles—two of the hardest-hit sectors by Donald Trump’s protectionist tariffs in the United States.
 
 
 Those reductions would give British producers improved access to India’s expanding consumer market, home to more than 1.4 billion people. The automotive and beverage industries are counting on that growth.
 
 
 This pact similarly intends to reinforce pharmaceutical supply chains, which is yet another crucial sector where both countries share intersecting priorities.
 
 
 <h2>
 Investment treaty talks advance
 </h2>
 The unrestricted trade pact is just one of several agreements currently being discussed. Simultaneously, both nations are also engaged in talks over a bilateral investment treaty aimed at providing legal protections for UK-India investments.
 
 
 This was a central theme during high-level meetings this week. On Tuesday night, India’s Finance Minister Nirmala Sitharaman attended a working dinner with Labour’s Rachel Reeves and party leader Keir Starmer.
 
 
 The following day, Sitharaman met with UK Trade Secretary Jonathan Reynolds, who had previously traveled to New Delhi in February to resume official talks.
 
 
 Reeves said, “It is imperative we go further and faster to kickstart economic growth,” pointing to the urgency of finalising deals with partners like India.
 
 
 <h2>
 Shared optimism from ministers
 </h2>
 At a business event hosted by the Indian High Commission in London on Tuesday, Sitharaman said India was accelerating its trade outreach due to rising global instability. “Global uncertainties are multiplying by the day,” she warned.
 
 
 However, she ended on an optimistic note following her discussions with Reynolds. "There is a strong feeling of positivity and commitment to finalize the UK-India agreement promptly," she informed journalists on Wednesday.
 
 
 After the meetings, the ministers from both sides unveiled a fresh set of export and investment deals worth £128 million, indicating that their deeper economic relationships remain unaffected irrespective of the ultimate timeframe.
 
 
 The tech sector's top figures added their backing as well. Keshav Murugesh, the CEO of the major outsourcer WNS, commented, "Strengthening the relationship between our countries will boost innovation and create high-skilled employment opportunities." This comes as his company plans to enlarge its offices in London.
 
 
 Executives from various industries have consistently advocated for a more streamlined and dependable trading system with India, recognizing its status as one of the quickest expanding major economies worldwide.
 
 
 <h2>
 The imposition of border taxes continues to be a contentious request.
 </h2>
 Even with recent advancements, several politically sensitive requests remain under discussion. Among these, one of India’s key demands is an exemption from the United Kingdom’s upcoming carbon border adjustment mechanism (CBAM).
 
 
 The proposed tax aims to be imposed on imported products with high carbon footprints, such as fertilizer and steel. It forms part of the UK's comprehensive approach to safeguard local industries while still achieving environmental targets.
 
 
 India, highlighting its status as a developing nation, has requested an exclusion from the tax. Such an exemption might spark controversy, especially among British steel manufacturers who view the CBAM as a means to create fair competition.
 
 
 <h2>
 A Brexit benefit, still within grasp
 </h2>
 In January 2022, the UK initiated free trade discussions with India, presenting the deal as potentially one of the biggest successes for the country’s post-Brexit period.
 
 
 However, multiple shifts in governmental leadership along with political holdups have hindered advancements, as former Conservative-led governments consistently failed to meet their self-imposed timelines.
 
 
 Currently, as both nations move closer than ever before towards a concluding document, the expectation is that the political determination from each side will remain strong enough to finalize the agreement.
 
 
 What comes next will depend on how the remaining details are settled—and how fast.
 
 </div>
 </div>


 <div>
 For more news like this visit
 The Economic Times
 .
 </div>

UK-India Trade Deal Near Completion, But Border Tax Tensions Persist

Substantial headway has been achieved in the developing free trade pact between the United Kingdom and India, with 90% of the...

Silver Lining Emerges as Malaysia Navigates US Tariffs

DIWIDA.NEWS business, economics, government regulations, international economics, international trade

PETALLING JAYA: While the US imposing tariffs may seem gloomy, it actually presents an opportunity for our country, according to various trade associations.
 
 
 The President of the Federation of Malaysian Manufacturers, Tan Sri Soh Thian Lai, stated that although the 24% tariff imposed on Malaysia is far from perfect, it offers certain strategic benefits when compared with neighboring countries.
 
 
 numerous ASEAN nations such as Vietnam, Cambodia, and Laos along with China are encountering substantially increased bilateral US tariffs, with some approaching twice the rate imposed on Malaysia.
 
 
 This change effectively flattens the competition landscape and places Malaysia in a more appealing position for exports, particularly for purchasers looking to move away from pricier nations.
 
 
 "We can leverage this competitive edge to grab a portion of the U.S. market in specific product segments," he stated upon being reached for comment.
 
 
 Although sectors such as semiconductors and pharmaceuticals are not subject to the tariff increase, Soh mentioned that other industries could still see advantages.
 
 
 They encompass items such as rubber gloves, electronic gadgets, packaged foods, aviation parts, furniture, and medical equipment.
 
 
 "These sectors are areas where Malaysia has demonstrated expertise, and where rival suppliers from China or Vietnam currently encounter increased tariff obstacles," he stated.
 
 
 Soh observed that Malaysia's robust manufacturing capabilities, varied supply chain network, and credible regulations could establish the country as a dependable alternative within global supply chains catering to the U.S. market.
 
 
 <img data-document-id="cms/api/amp/image/AA1CmYGY" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmYGY.jpg"/>
 
 
 The Associated Chinese Chambers of Commerce and Industry Malaysia Treasurer-General, Datuk Koong Lin Loong, stated that imposing elevated tariffs on other countries within the Southeast Asian region might result in substantial long-term benefits for Malaysia.
 
 
 The bright side we should focus on is the possibility of turning Malaysia into a key regional investment center.
 
 
 "Investors prefer putting their money here over countries like China and Vietnam, where they faced heavier tariffs," he stated.
 
 
 He mentioned that the country's attractiveness as an investment destination was enhanced because of its robust economy, consistent governmental policies, and capable workforce.
 
 
 These are key elements that investors take into account.
 
 
 “Although the US tariffs on the Philippines (17%) and Singapore (10%) are lower than Malaysia, investors may find policies in the Philippines not so conducive while Singapore may be too expensive for them to set up operations,” he said.
 
 
 Koong mentioned that the strengthening of the ringgit against the US dollar can be attributed to robust economic indicators within the country and the currency being considered undervalued.
 
 
 Given the imposed tariffs, fund managers view the currency’s potential.
 
 
 "Additionally, our stock market has stayed above the 1,500 level, unlike some others that experienced significant drops," he noted.
 
 
 The President of the SME Association of Malaysia, Chin Chee Seong, stated that these tariffs will affect certain areas but primarily target particular high-tech and premium petroleum goods rather than across all sectors like in various other nations within the Asia-Pacific area.
 
 
 Relative to several nations like Laos, Cambodia, Vietnam, and China, our situation remains comparatively more favorable.
 
 
 We primarily export advanced technology goods and premium petroleum products, constituting the major portion of our transactions with the United States; concurrently, we maintain a comparatively modest trade imbalance.
 
 
 "We are in a more favorable situation since items like semiconductors are not subject to tariffs. Therefore, we will probably face only a 10% tariff on most of our other exported goods," he stated when reached for comment.
 
 
 Chin observed that Malaysia was heading in the correct direction by avoiding retaliatory actions towards the United States and choosing instead to pursue a policy of friendly interaction.
 
 
 He thought that US President Donald Trump might experience another phase of tariff modifications because of the criticism he is receiving from various nations as well as within his own country.
 
 
 The co-chairman of the Asean-India Business Council, Nivas Ragavan, noted that Malaysia avoided increased tariffs thanks to its equitable trading relationship with the United States, especially in critical sectors like electrical and electronic products, medical equipment, and precise components which demand stringent compliance standards.
 
 
 "These sectors are closely intertwined with U.S. supply chains and follow international regulatory standards, which might have led the United States to apply a lesser tariff rate than other regional exporters who have distinct trade profiles," he explained.
 
 
 Nivas, who also serves as the vice-chairman of the Federation of Malaysian Businesses Association, stated that reducing tariffs for Malaysia would offer the country a stronger competitive edge.
 
 
 Many of our ASEAN neighbors now encounter higher expenses when exporting goods to the United States.
 
 
 "This might steer specific American purchasers and investors towards Malaysia, notably within areas such as manufacturing, electronics, and medical equipment," he stated.
 
 
 He mentioned that the nation could utilize its current free trade pacts and business-conducive atmosphere to draw in shifts in supply chains from nations with higher tariffs.
 
 
 "There's an opening here for Malaysian exporters to seize, innovate, and take over the space vacated by their regional rivals," he noted.
 
 
 As for the ringgit’s recent appreciation, Nivas said that this could be due to the volatility of the US economy due to inflationary pressure.
 
 
 "In the Malaysian context, persistent trade surpluses, higher commodity prices especially for palm oil and energy, along with a gradual rebound in local consumption, are bolstering faith in the ringgit," he further stated.
 
 
 The advisor of Bumiputera Retailers Organization Malaysia, Datuk Ameer Ali Mydin, stated that products brought in from nations facing increased tariffs might ultimately be sold in this country for less money.
 
 
 This is because companies in those impacted nations might produce more than needed domestically as a result of increased taxes on exports to the United States.
 
 
 "Nevertheless, we need to be cautious about avoiding dumping from these nations, which is currently occurring via e-commerce platforms and could impact our retail industry," he stated.

Silver Lining Emerges as Malaysia Navigates US Tariffs

PETALLING JAYA: While the US imposing tariffs may seem gloomy, it actually presents an opportunity for our country, according to variou...

Trump Stands Firm on Tariffs, Deems Them 'Medicine' as Markets Tumble

DIWIDA.NEWS economic policy, government, international economics, news, politics

<img data-document-id="cms/api/amp/image/AA1CpGyr" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CpGyr.jpg"/>

 President Donald Trump stated on Sunday that he will not retreat from his broad tariff measures on imports from most nations until those countries balance their trade relationships with the United States.


 He is steadfastly pursuing his agenda to introduce these taxes, leading to volatile reactions in financial markets, sparking concerns about an economic downturn, and disrupting the worldwide trade framework.

<table class="tplCaption">
 <tr>
 <td>
 <img data-document-id="cms/api/amp/image/AA1CpLmJ" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CpLmJ.jpg"/>
 </td>
 </tr>
 <tr>
 <td>
 
 U.S. President Donald Trump at Miami International Airport, Florida on April 3, 2025. Image captured by AFP
 
 </td>
 </tr>
</table>

 While speaking with journalists onboard Air Force One, Trump stated that he did not wish for global markets to decline; however, he was not particularly worried about the significant drop either. He further commented, “Occasionally, you need to take some medicine to address an issue.”


 His remarks were made as international financial markets seemed poised to maintain their steep drops when trading resumed on Monday. This followed efforts by Trump’s advisors to calm market worries, stating that over 50 countries had contacted them expressing interest in initiating talks aimed at reducing the tariffs.


 "Many leaders from Europe, Asia, and various parts of the globe have spoken to me,” Trump stated. “They are eager to strike a deal. However, I told them that we won’t run up deficits with their countries. For me, a deficit means losing money. Instead, our aim will be to achieve surpluses, or at minimum break even.”


 Starting Wednesday, increased rates will come into effect, marking the dawn of a period marked by economic unpredictability without an apparent conclusion. According to Treasury Secretary Scott Bessent, unjust trading tactics cannot simply be resolved through negotiations lasting mere days or weeks. He emphasized that the U.S. needs to assess what these nations propose and determine if their offers hold credibility.


 Trump, who spent the weekend in Florida playing golf, posted online that "WE WILL WIN. HANG TOUGH, it won’t be easy." His Cabinet members and economic advisers were out in force Sunday defending the tariffs and downplaying the consequences for the global economy.


 We don't necessarily have to face a recession," Bessent stated. "It’s uncertain how the market will respond over the next few days or weeks." He added, "Our focus is on establishing strong long-term economic foundations for growth and success.


 On Sunday night, U.S. stock futures declined due to ongoing tariff concerns affecting the market. Futures for both the Dow Jones Industrial Average and the S&P 500 decreased by approximately 4%, whereas Nasdaq futures plummeted almost 5%. Additionally, Bitcoin, which had remained fairly steady throughout the previous week, saw a drop of around 6% on Sunday.


 Trump’s tariff
 On April 2, blitz carried out a crucial pledge from his campaign by unilaterally reshaping international trade regulations. This step had been years in the planning for Trump, who has consistently criticized overseas trade agreements as detrimental to America. His strategy hinges on the assumption that citizens will accept increased costs for common goods in order to implement his economic plan.


 Countries are scrambling to figure out how to respond to the tariffs, with China and others retaliating quickly.


 Top White House economic adviser Kevin Hassett acknowledged that other countries are "angry and retaliating," and, he said, "by the way, coming to the table." He cited the Office of the U.S. Trade Representative as reporting that more than 50 nations had reached out to the White House to begin talks.


 Adding to the turmoil, the new tariffs are hitting American allies and adversaries alike, including Israel, which is facing a 17% tariff. Israeli Prime Minister Benjamin Netanyahu is set to visit the White House and speak at a press conference with Trump on Monday, with his office saying the tariffs would be a point of discussion with Trump along with the war in Gaza and other issues.


 Vietnam, a major manufacturing center for clothing, has also been in touch with the administration about the tariffs. Trump said Vietnam’s leader said in a telephone call that his country "wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S." And a key European partner, Italian Premier Giorgia Meloni, said she disagreed with Trump’s move but was "ready to deploy all the tools — negotiating and economic — necessary to support our businesses and our sectors that may be penalized."


 Commerce Secretary Howard Lutnick made clear there was no postponing tariffs that are days away.


 "The tariffs are coming. Of course they are," he said, adding that Trump needed to reset global trade. But he committed only to having them "definitely" remain "for days and weeks."


 In Congress, where Trump’s Republican Party has long championed free trade, the tariff regiment has been met with applause but also significant unease.


 Several Republican senators have already signed onto a new bipartisan bill that would require presidents to justify new tariffs to Congress. Lawmakers would then have to approve the tariffs within 60 days, or they would expire. Nebraska GOP Rep. Don Bacon said Sunday that he would introduce a House version of the bill, saying that Congress needs to restores its powers over tariffs.


 "We gave some of that power to the executive branch. I think, in hindsight, that was a mistake," said Bacon, adding that getting a measure passed would be challenging unless the financial markets continue to react negatively and other indicators such as inflation and unemployment shift.


 Wyoming’s John Barrasso, the No. 2 member of the Senate’s GOP leadership, said Trump is "doing what he has every right to do." But, he acknowledged, "there is concern, and there’s concern across the country. People are watching the markets."


 "There’ll be a discussion in the Senate," Barrasso said of the tariffs. "We’ll see which way the discussion goes."


 Trump’s government cost-cutting guru, billionaire businessman Elon Musk, had been relatively silent on Trump’s tariffs, but said at a weekend event in Italy that he would like to see the U.S. and Europe move to "a zero-tariff situation." The comment from the Tesla owner who leads Trump’s Department of Government Efficiency drew a rebuke from White House trade adviser Peter Navarro.


 "Elon, when he is on his DOGE lane, is great. But we understand what’s going on here. We just have to understand. Elon sells cars," Navarro said. He added: "He’s simply protecting his own interest as any business person would do."


 Trump indicated he disagreed with Musk, saying Sunday of the European Union, "They want to talk, but there’s no talk unless they pay us a lot of money on a yearly basis."


 Lawrence Summers, an economist who was treasury secretary under Democratic President Bill Clinton, said Trump and his economic team are sending contradictory messages if they say they are interested in reviving manufacturing while still being open to negotiating with trade partners.


 If other countries eliminate their tariffs, and the U.S, does, too, he said, "it’s just making a deal, then we don’t raise any revenue nor do we get any businesses to relocate to the United States. If it’s a permanent revenue source and trying to get businesses to relocate to the United States, then we’re going to have these tariffs permanently. So the president can’t have it both ways."


 Bessent was on NBC’s "Meet the Press," Hassett and Summers appeared on ABC’s "This Week," Lutnick and Barrasso were on CBS’ "Face the Nation" and Navarro was interviewed on Fox News Channel’s "Sunday Morning Futures."

Trump Stands Firm on Tariffs, Deems Them 'Medicine' as Markets Tumble

President Donald Trump stated on Sunday that he will not retreat from his broad tariff measures on imports from most nations until those ...

"Tariffs Are the Only Cure for Massive Financial Deficits with China and the EU": Trump

DIWIDA.NEWS european union, international economics, international relations, international trade, politics

<img data-document-id="cms/api/amp/image/AA1CpLew" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CpLew.jpg"/>
<div class="content count-br">
 
 
 Washington DC [
 US
 ], April 7 (ANI):
 US
 President Donald Trump defended his administration's implementation of reciprocal
 tariff
 Regarding different nations, emphasizing their
 financial deficit
 s the
 US
 faces with nations like
 China
 as well as the European Union, contending that
 tariff
 The only way to address these trade imbalances is through tariffs.
 
 
 Donald Trump also criticised the trade surplus with these countries under former President
 Joe Biden
 , vowing to reverse it swiftly, while expressing his belief that
 tariff
 s would prove beneficial for the
 US
 .
 
 
 Sharing a post on social media platform Truth Social on Sunday (local time), Trump wrote, "We have massive
 financial deficit
 s with
 China
 , the European Union, and numerous others. The sole solution to this issue is through
 tariff
 which are now generating tens of billions of dollars for the
 US
 A. They are currently active, and quite a splendid sight to see."
 
 
 He added, "The surplus with these countries has increased during the 'Presidency' of someone often described as sluggish."
 Joe Biden
 We aim to turn this around swiftly, and one day people will come to realize that
 tariff
 Sure, "For the United States of America, they are truly a magnificent sight!"
 
 
 As stated by the Office of the United States Trade Representative,
 US
 total goods trade with
 China
 were an estimated
 US
 D $582.4 billion in 2024.
 US
 goods exports to
 China
 in 2024 were
 US
 D $143.5 billion, decreased by 2.9 percent (
 US
 D $4.2 billion) for 2023.
 US
 goods imports from
 China
 in 2024 totaled
 US
 D 438.9 billion, an increase of 2.8 percent (
 US
 D $12.1 billion) for 2023. The
 US
 goods trade deficit with
 China
 was
 US
 D $295.4 billion in 2024, representing a 5.8 percent increase (
 US
 D $16.3 billion) throughout 2023, according to the Office of the United States Trade Representative.
 
 
 On the other hand,
 US
 total merchandise trade with the
 EU
 were an estimated
 US
 D $975.9 billion in 2024.
 US
 goods exports to the
 EU
 in 2024 were
 US
 D 370.2 billion, an increase of 0.7 percent (
 US
 D 2.6 billion) starting in 2023.
 US
 goods imports from the
 EU
 totaled
 US
 D $605.8 billion in 2024, an increase of 5.1 percent (
 US
 D $29.4 billion) for 2023. The
 US
 goods trade deficit with the
 EU
 was
 US
 D 235.6 billion in 2024, a 12.9 per cent increase (
 US
 D 26.9 billion) over 2023.
 
 
 On April 2, Trump announced a widespread imposition of
 tariff
 s on countries worldwide. In February, soon after taking charge for the second time, Trump outlined a new trade policy focused on fairness and reciprocity and said that the
 US
 would implement reciprocal
 tariff
 s, charging other countries the same
 tariff
 s they impose on American goods.
 
 
 As per the announcements, the import
 tariff
 s on other major countries are
 China
 (34 per cent), the European Union (20 per cent), Vietnam (46 per cent), Taiwan (32 per cent), Japan (24 per cent), India (26 per cent), the United Kingdom (10 per cent), Bangladesh (37 per cent), Pakistan (29 per cent), Sri Lanka (44 per cent), and Israel (17 per cent).
 
 
 From April 9 onwards, countries with the largest trade deficits with the
 US
 will face higher, individualised
 tariff
 s. India is one of the countries affected, with a 26 per cent
 tariff
 imposed on all its exports. (ANI)
 
 
</div>
Provided by SyndiGate Media Inc. (
Syndigate.info
).

"Tariffs Are the Only Cure for Massive Financial Deficits with China and the EU": Trump

Washington DC [ US ], April 7 (ANI): US President Donald Trump defended his administration's implementation of rec...

China and EU Rekindle Trade Talks Focus on Electric Vehicles

DIWIDA.NEWS business, commerce, international economics, news, politics

China and EU Rekindle Trade Talks Focus on Electric Vehicles

BEIJING (Diwdia) – China’s commerce minister held discussions with the European Union’s trade and economic security commissioner, Maros S...

Euro Soars Toward Five-Month Peak Following Trump’s 'Liberation Day' Address

DIWIDA.NEWS economics, financial markets, international economics, money, news

<img data-document-id="cms/api/amp/image/AA1uyETo" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1uyETo.jpg"/>

 Following U.S. President Donald Trump’s retaliatory tariff announcement on Wednesday evening, the euro experienced a significant surge against the U.S. dollar. By 5:17 AM, the EUR/USD pairing had risen by 0.5%, exceeding half a cent, reaching 1.0915—a figure close to the five-month peak of 1.0953. This nearly offset all declines recorded since Trump's reelection on November 5th.


 The U.S. president stated that his administration would enforce a base tariff of at least 10% on goods from every country, along with extra charges for those deemed non-compliant. A chart was shown illustrating which countries would be subjected to increased tariffs, ranking them with China, the European Union, and Vietnam at the forefront—bearing respective rates of 34%, 20%, and 46%. These supplementary fees will elevate the overall duty on Chinese imports to 54% above the current standard rate of 20%.


 The US dollar declined extensively against most of the key global currencies, notably weakening against the Japanese yen, the euro, the British pound, and the Swiss franc. This shift occurred as investors predicted negative repercussions for the United States economy. Consequently, 10-year US Treasury yields dropped to their lowest point since October 2024.


 Nonetheless, commodity-linked currencies like the Australian dollar and the Canadian dollar declined relative to the US dollar. These currencies correlate with worldwide commodity values, including copper and crude oil, both of which experienced significant drops during Thursday’s trading in Asia. The extensive mutual tariff increases ignited worries of a comprehensive international trade conflict, leading to apprehensions regarding a severe economic slowdown and potentially wider recessions. This shift consequently dampened expectations for strong demand in industrial metals and energy sectors.

<div class="c-widget-related">
 <div class="c-widget-related__title">
 
 Related
 
 </div>
 <ul class="c-widget-related__list">
 <li class="c-widget-related__item">
 Trump announces 10% reciprocal global tariffs and 20% on the EU
 </li>
 </ul>
</div>
<h2>
 Global stock markets tumble
</h2>

 The news unsettled international markets, causing stocks to plunge throughout Asian exchanges on Thursday. Japan's equity market spearheaded the widespread declines, as its key index, the Nikkei 225, dropped almost 3% within the day. This was trailed by Hong Kong's Hang Seng Index, which fell about 1.5%, whereas Australia’s ASX 200 and South Korea’s Kospi both saw drops of around 1%.


 Significantly, major mining company shares drove the widespread declines in the Australian stock market, as BHP decreased by 2.4% and Rio Tinto fell by 2.8%. A significant dip in copper prices had a substantial negative effect on local markets, which could also influence those in the UK because of these companies' listings in both regions.


 Although Australia has limited direct trading ties with the US, the repercussions through China and other major Asian economies experiencing significant tariff impacts might negatively affect our heavily export-dependent economy," noted Josh Gilbert, a market analyst at eToro, in a statement. "This would be particularly true should global demand decrease and commodity prices drop.


 US stock futures took a nosedive, with the Dow Jones Industrial Average down 2.01%, the S&P 500 dropping 2.78%, and the Nasdaq decreasing by 3.3%, signaling a steep decline when trading opens on Thursday. These declines are expected to spread across European markets today, as evidenced by Germany’s DAX futures which were already off by 1.89% at 5:30 am CET.


 Tech stocks are poised for a downturn, as shown during the extended trading period on Wall Street. All seven major technology companies saw substantial drops in after-hours trading, includingTesla which fell by 4.5%, Apple dropping 2.3%, and Nvidia decreasing by 2.4%. "This will undoubtedly have an effect on these leading tech firms, particularly consideringApple's significant presence inChina andNvidia's dependence onTaiwan," Gilbert noted further.

<div class="c-widget-related">
 <div class="c-widget-related__title">
 
 Related
 
 </div>
 <ul class="c-widget-related__list">
 <li class="c-widget-related__item">
 Asian markets and US futures decline sharply following widespread US tariff increases
 </li>
 </ul>
</div>
<h2>
 Gold reaches an unprecedented peak
</h2>

 A risk-averse attitude caused gold prices to soar to unprecedented levels, with gold futures leaping to $3,195 an ounce at COMEX and spot gold climbing to a peak of $3,167 an ounce before pulling back.


 Uncertainties may persist, potentially offering additional upward momentum for gold. "It wasn’t evident that the Trump administration would cease their 'trade war' efforts here," noted Kyle Rodda, a senior market analyst at Capital.com, suggesting continued ambiguity ahead.


 Gold, often regarded as a safe-haven asset, saw an increase of 20% this year, building upon a significant 30% gain in 2024, which positioned it as one of the top-performing categories within assets. The rising purchases by central banks, concerns over potential devaluation of the U.S. dollar, and strategic hedges made by investors collectively fueled the sharp rise in gold prices in recent years.

Euro Soars Toward Five-Month Peak Following Trump’s 'Liberation Day' Address

Following U.S. President Donald Trump’s retaliatory tariff announcement on Wednesday evening, the euro experienced a significant surge ag...

Who Gains From a Global Dollar?

DIWIDA.NEWS central banks, currencies, global economy, international economics, money

By Andrés Velasco
 


 U.S. President Donald Trump believes that America should be primarily for Americans. In comparison, the U.S. dollar is available for everybody.


 If the BRICS group of emerging economies decides to introduce a new currency, Trump would have
 tweeted
 , or "support any other currency as an alternative to the powerful US dollar," they will be subject to 100% tariffs.


 The chairperson of Trump’s Council of Economic Advisers,
 Stephen Miran
 , does not agree. On April 7, he
 told
 The Hudson Institute argues that the worldwide usage of the dollar has led to continuous monetary imbalances and has contributed, together with other nations' unjust trade restrictions, to unbalanced trade deficits.


 Miran is not the sole economist associated with "Make America Great Again" who holds this opinion.
 Michael Pettis
 , not part of the administration but still having significant influence within it, recently penned an opinion piece in the
 Financial Times
 entitled
 The United States would fare better without relying on the global dollar.


 Globally, the desire for U.S. dollars boosts their worth. Trump views this as positive since robust nations ought to possess powerful currencies. However, his team includes experts concerned that an appreciating dollar could undermine American industries' competitiveness and lead to job losses overseas. Which perspective holds more weight?


 When people from countries like the Philippines, Malaysia, Saudi Arabia, Nigeria, Colombia, and many others choose to hold dollars for saving and investing purposes, they uphold something that Valéry Giscard d'Estaing, who was serving as France’s finance minister under President Charles de Gaulle at the time, referredly termed as "exorbitant privilege" for the United States—a notion not seen as an excessive burden but rather as a benefit according to Miran and Pettis.


 Nearly all governments print money to cover their expenses. Citizens readily use these banknotes when trading for products and services. This unstable system is referred to by economists as "seigniorage." Whenever confidence in the domestic currency erodes and individuals attempt to offload it—as seen in nations like Argentina, Venezuela, Sudan, and Zimbabwe—consumer prices surge dramatically.


 The United States stands out because people all around the globe want to hold onto their dollars, allowing the country to earn seigniorage from the entire world. This benefit comes courtesy of the Federal Reserve.
 estimates
 Foreigners possess over $1 trillion, which constitutes 45% of the entire money supply in circulation within the United States. This serves as an inexpensive means of financing for America.


 Picture an American traveling overseas who pays for a hotel stay using U.S. currency. One year later, the international hotel owner utilizes those same dollars to finance their trip to America. Should consumer prices increase within the United States over that period, it effectively equates to providing the Americans with a loan carrying a negative interest rate from the global community.


 This isn’t the sole method through which the U.S. secures affordable funding. Across the globe, American bonds—and particularly those Treasury bills issued by the United States government—are utilized as security in various financial dealings.


 Because of this convenience, foreigners are willing to hold Treasuries even if the interest rate is lower than that of other government bonds of equivalent risk and maturity (economists call this gap the
 convenience yield
 ).


 By the close of 2024, non-residents
 held
 Almost $8.6 trillion in U.S. federal debt exists. Should its function as collateral result in a reduction of the interest rate on American debt by approximately 0.5%, then Americans stand to save around $43 billion annually.


 Moreover, if the convenience yield causes Treasury interest rates to fall below the economy’s growth rate, then the US benefits from
 free lunch
 It can emit government debt without needing to pay it back.


 Prior to addressing the Hudson Institute, Miran admitted that "the demand for dollars has helped keep our borrowing costs down." However, he subsequently failed to mention this important point throughout the remainder of his address.


 He also overlooked an additional benefit of the worldwide use of the dollar: whenever the United States faces difficulties (such as post-Vietnam War era or during the chaotic periods following Trump’s announcement in early April about initiating a tariff conflict), the value of the dollar drops, thereby reducing the weight of the dollar-denominated debts owed globally.


 Other countries that borrow in their own currency must pay an interest rate that compensates for this devaluation risk. The US
 does not
 .


 Is the world losing out as America gains? Not exactly. Individuals across the globe reap benefits from possessing secure, US-dollar-denominated assets for saving and investment purposes. Currently, no other economy can offer this same service.


 The clear substitute would be Europe; however, its capital market is significantly more segmented compared to that of the United States. This fragmentation exists because it was just recently, within the past several years, that the European Union started issuing debt instruments instead of individual member countries doing so independently.


 While China boasts a substantial economy, its authoritative governance structure and extensive capital restrictions prevent global interest in holding assets denominated in renminbi.


 The U.S. dollar serves as a worldwide currency due to the historical reliability of American policies and institutions compared to those of many other nations. Should MAGA economists view this as an issue, their leader has a straightforward fix at hand.


 Through tariff impositions that breach global agreements, speculation regarding invasions of allies such as Canada and Denmark with an eye toward controlling Greenland, disregarding judicial decisions, and contemplating seeking an unconstitutional third term, Trump is causing the U.S. to resemble nations characterized by weak currencies and high inflation rates.


 The global response to Trump's "Liberation Day" tariffs was clear: the value of the dollar
 lost
 almost 7% of its worth compared to the euro, with the ten-year Treasury yields also changing.
 rose
 By nearly half a percentage point. Currencies from emerging and developing nations likewise declined, as increased tariffs and a decelerating global economy diminished their growth outlooks.


 Creating a policy that harms nearly everybody is no simple task, yet the MAGA economists have accomplished this impressive achievement. Should the worldwide dominance of the dollar falter as a consequence, it would be lamented by many.


 
 Andrés Velasco, who previously served as the finance minister of Chile, currently holds the position of Dean at the School of Public Policy within the London School of Economics and Political Science.
 

Provided by Syndigate Media Inc. (
Syndigate.info
).

Who Gains From a Global Dollar?

By Andrés Velasco U.S. President Donald Trump believes that America should be primarily for Americans. In comparison, the U.S. dol...

India's Exporters Hit Hard: Textiles, Engineering Goods, Electronics, and Jewels Feel the Pain of Trump Tariffs

DIWIDA.NEWS business, economics, exports, international economics, manufacturing

<img data-document-id="cms/api/amp/image/AA1Cc6YS" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cc6YS.jpg"/>
<div class="content count-br">
 
 
 New Delhi [India], April 3 (ANI): Exporters in India’s textile, engineering goods, electronic, and gems and jewelry sectors are anticipated to be most affected by the tariffs introduced by Donald Trump.
 Trump
 according to experts.
 
 
 US President Donald
 Trump
 has imposed a 26 percent duty on goods coming from India. This move, disclosed early Thursday morning IST, encompasses
 Trump
 declaring mutual tariffs on numerous nations such as India.
 
 
 Ajay Bagga, an authority on banking and international stocks, informed ANI that these tariffs are founded on inflated estimates encompassing not only genuine custom charges but also purported currency manipulation and GST. He characterized the change in U.S. trade strategy as transitioning from “America First” to “America Alone.”
 
 
 He stated, "The domestic sectors within India enjoy protection against initial impacts; however, industries such as textiles, engineering goods, electronics, and gems and jewelry face immediate repercussions due to their export nature. This morning has seen a downturn in metals and oil prices alike. Meanwhile, major pharmaceutical companies are adopting a cautious stance since sector-specific tariffs will apply to them."
 
 
 Bagga pointed out that although India's domestic sectors may not be immediately affected, exporters will shoulder the burden of higher expenses.
 
 
 The unexpected introduction of tariffs is anticipated to affect various aspects of India's economy. Increased taxes might result in a reduction of Indian exports, diminishing profit margins for those involved in exporting.
 
 
 Moreover, investors may reallocate their investments towards more secure options like gold, the Japanese yen, the Swiss franc, and Japanese government bonds. This shift might also impact capital inflows into emerging markets.
 
 
 Bagga pointed out that the stock market initially responded to the news by flocking toward safer investments and shedding more volatile assets. He cautioned that the assured economic downturn could exert significant pressure on the markets in the following days.
 
 
 He stated, "What was once uncertain has become definitively known as economic and market distress. Initially, people tend to flock towards safer investments and divest from risky ones."
 
 
 The fresh tariffs might present a substantial obstacle for Indian exporters, forcing them to deal with higher expenses and decreased competitiveness within the US market. Given anticipated additional economic repercussions, participants from various sectors will be keeping a close watch on this scenario. (ANI)
 
 
</div>
Provided by SyndiGate Media Inc.
Syndigate.info
).

India's Exporters Hit Hard: Textiles, Engineering Goods, Electronics, and Jewels Feel the Pain of Trump Tariffs

New Delhi [India], April 3 (ANI): Exporters in India’s textile, engineering goods, electronic, and gems and jewelry sectors are an...

'Tough Love' Quotes: Trump on Tariffs in His Own Words

DIWIDA.NEWS donald trump, economics, government, international economics, politics

<img data-document-id="cms/api/amp/image/AA1CbD75" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CbD75.jpg"/>

 President Donald Trump announced his "Freedom Day" tariffs on Wednesday, sparking global concerns about a potential trade war.


 During an eagerly anticipated address at the White House Rose Garden, the wealthy business magnate declared that April 2, 2025, will "go down in history as the moment American industry was revitalized." He asserted that this date marks the beginning of a significant increase in domestic production, with numerous businesses relocating to the U.S. to manufacture their goods.


 It remains to be observed, however, Trump explicitly stated that he would no longer permit imports into the United States without imposing an appropriate tariff — adding that nations ought to adopt “a bit of tough love.”


 “Leaders from other countries have taken our jobs, cheats from abroad have plundered our factories, and scavengers from overseas have dismantled our former glorious American Dream,” Trump cautioned.


 It will no longer occur though.

<table class="tplCaption">
 <tr>
 <td>
 <img data-document-id="cms/api/amp/image/AA1CbD77" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CbD77.jpg"/>
 </td>
 </tr>
 <tr>
 <td>
 
 President Donald Trump displays a signed executive order at an event announcing new tariffs in the Rose Garden of the White House on April 2, 2025, in Washington. The photo was taken by AP.
 
 </td>
 </tr>
</table>

 Here are some of the key excerpts from his comments.


 
 'Independence'
 


 For many years, our nation has faced theft, destruction, exploitation, and robbery at the hands of countries close and distant, whether they be friends or foes," Trump stated, emphasizing that the misuse of trade by allies frequently surpassed that of adversaries.


 In my view, this is one of the crucial days in American history. It marks our declaration of economic independence.


 Employment opportunities and manufacturing facilities will return robustly to our nation, and this resurgence is already underway. We will boost our internal industrial sector significantly. We will unlock overseas markets and dismantle foreign trade obstacles, leading to increased production within our borders. This shift will result in fiercer competition and reduced costs for customers.


 
 Benevolence?
 


 Even though he announced "minimal standard" tariffs at a rate of 10% on trading partners, Trump tried to present this action as beneficial for international commerce.


 "The president stated, 'We are showing considerable leniency. We intend to impose charges that amount to roughly half of what they currently levy against us,'" he remarked.


 And what if nations object? “Should they protest, and wish for their tariff rates to reach zero, then they should manufacture their products right here in the United States.”


 
 China hit hard
 


 At the forefront of the tariff list President Trump displayed at the podium was China, which boasts the world’s second-largest economy. The president asserted that when including the impact of currency manipulation, the overall tariffs imposed by Beijing on American products reached as high as 67%.


 "Thus, we will apply a reduced reciprocal tariff rate of 34% on imports from China," Trump stated.


 We charge them, they charge us back, but this time with a lower fee. How could anyone object? They might still complain since we've never levied charges before. However, from now on, we'll start charging.


 Trump said China's President Xi Jinping was among several world leaders who "understand" the need for the tariffs, such as the ones he slapped on Chinese steel and other products during his first term as president.


 They all recognize that we might have to be firm with them, perhaps. However, they all acknowledge this. They’re taking advantage of us, and they know it.


 
 Way back when
 


 From 1789 to 1913, our country operated under a system supported by tariffs, during which time the United States reached its highest level of wealth relative to history," claimed Trump, who has often highlighted late-19th-century protectionist President William McKinley as one of his role models known for imposing import duties.


 "In 1913, for reasons unclear to humanity, they introduced the income tax, ensuring that citizens, not foreign nations, began contributing the funds required to operate our government," Trump stated.


 "Then in 1929 it all came to a very abrupt end with the Great Depression. And it would have never happened if they had stayed with the tariff policy," Trump said, conveniently ignoring the multiple factors -- including global economics, bank troubles, and the stock market crash -- that led to the Great Depression.


 
 No surrender
 


 In addition to highlighting tariffs on China, other Asian powers and the European Union, Trump turned his ire closer to home.


 "The United States can no longer continue with the policy of unilateral economic surrender," he said.


 "We cannot pay the deficits of Canada, Mexico and so many other countries. We used to do it. We can't do it anymore."

'Tough Love' Quotes: Trump on Tariffs in His Own Words

President Donald Trump announced his "Freedom Day" tariffs on Wednesday, sparking global concerns about a potential trade war. ...

Trump Slaps 10% Tariff on All Countries: New Rules Take Effect April 5

DIWIDA.NEWS economics, government, international economics, international trade, politics

<img data-document-id="cms/api/amp/image/AA1CbqkM" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CbqkM.jpg"/>
<div class="content count-br">
 
 
 Washington DC [
 US
 ), April 3 (ANI): After he announced the extensive
 tariffs
 worldwide,
 US
 President
 Donald Trump
 mentioned that a 10 percent duty will be applied to all nations starting from April 5th.
 
 
 Furthermore, beginning April 9, nations with significant trade deficits will be affected.
 US
 will face higher, individualised
 tariffs
 .
 
 
 In a factsheet entitled 'President Donald J. Trump Declares National Emergency to Enhance Our Competitiveness, Safeguard Our Sovereignty, and Fortify Our National and Economic Security,' The White House stated: “President Trump is utilizing his powers granted under the International Emergency Economic Powers Act of 1977 (IEEPA) to tackle the national crisis caused by an extensive and ongoing trade imbalance fueled by non-reciprocal trading practices and detrimental policies such as currency manipulation and excessive value-added taxes (VAT), which are enforced by certain nations.”
 
 
 The statement read, "Utilizing his powers under the IEEPA, President Trump plans to introduce a 10% tariff on goods from all nations. This measure will be implemented starting April 5, 2025, at 12:01 AM Eastern Daylight Time."
 
 
 The document also noted, “President Trump plans to introduce personalized elevated tariffs specifically for nations where the United States faces the most significant trade imbalances. Meanwhile, all remaining countries will keep facing the initial 10% tariff rate. These measures will commence on April 9, 2025, at 12:01 AM Eastern Daylight Time.”
 
 
 The tariffs will stay in place until President Trump decides that the threat from the trade deficit and the unfair trading practices has been addressed, settled, or reduced.
 
 
 The factsheet additionally noted, "The current IEEPA order includes modification powers, enabling President Trump to raise tariffs if trading partners respond with retaliation or reduce them."
 tariffs
 If trading partners make substantial efforts to address unequal trade practices and synchronize their policies with those of the United States regarding economic and national security issues.
 
 
 Significantly, Trump declared new import measures
 tariffs
 On Wednesday (in local time), details were provided regarding the tariffs to be applied globally, with India encountering a 26 percent duty.
 
 
 At the
 Make America Wealthy Again
 Trump stated, “When it comes to motorcycles, the U.S. imposes a mere 2.4% tariff on other nations. In contrast, countries such as Thailand apply tariffs of around 60%, India levies a rate of 70%, and Vietnam has an astonishingly high rate of 75%. Some countries go even further with their rates.”
 
 
 The
 US
 The president also stated that starting from midnight, a 25 percent tariff would be applied to all imported cars. "These extreme trade disparities have severely damaged our manufacturing sector and compromised our national security. While I do not fault those nations responsible for this disaster, I hold previous presidents and former leadership accountable as they failed to fulfill their duties..." he explained.
 
 
 The import
 tariffs
 Other significant contributors include China at 34 percent, the European Union with 20 percent, Vietnam at 46 percent, Taiwan contributing 32 percent, Japan at 24 percent, India with 26 percent, the United Kingdom accounting for 10 percent, Bangladesh at 37 percent, Pakistan at 29 percent, Sri Lanka with 44 percent, and Israel at 17 percent. (ANI)
 
 
</div>
Provided by Syndigate Media Inc. (
Syndigate.info
).

Trump Slaps 10% Tariff on All Countries: New Rules Take Effect April 5

Washington DC [ US ), April 3 (ANI): After he announced the extensive tariffs worldwide, US President Donald ...

Trump's Tariffs: 46% Could Slam Nike, American Eagle, and Wayfair in Vietnam

DIWIDA.NEWS business, commerce, economics, international economics, international trade

<ul>
 <li>
 A new 46% tariff on Vietnam could soon raise costs for major corporations in the apparel, furniture and toy space, and some of them may hike prices for consumers.
 </li>
 <li>
 The country became a popular alternative for companies trying to avoid the crossfire of U.S. trade tensions with Beijing.
 </li>
 <li>
 The duties will hit companies at a time when many consumers have become value-conscious and more selective about spending.
 </li>
</ul>
<img data-document-id="cms/api/amp/image/AA1Cb6Kb" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cb6Kb.jpg"/>

 Retailers and brands have turned to Vietnam to manufacture goods from sneakers to couches while moving some or all production out of China.


 For years, China's southern neighbor became a popular alternative for companies trying to avoid the crossfire of U.S. trade tensions with Beijing. Now, as President
 
 Donald Trump
 
 expands
 his tariff targets
 , they can no longer avoid it.


 Trump said he will put a 46% duty on imports from Vietnam as part of a new wave of global levies announced Wednesday. That could soon raise costs for major corporations in the apparel, furniture and toy space, and some of them may pass those increases to consumers in the form of price hikes. The tariffs on Vietnam take effect on April 9.


 For over twenty years, China was the top exporter of goods to the U.S., but now Mexico holds that position.
 surpassed China
 as the top source in 2023. China is now the
 second largest supplier
 to the U.S., accounting for $438.9 billion worth of goods in 2024, according to government data from the Office of the U.S. Trade Representative.


 For companies that have looked to diversify the countries they rely on for production and reduce risks from trade conflicts with China, Vietnam has also become a popular place to go. Imports from Vietnam grew to $136.6 billion in 2024, up about 19% from 2023, according to the Office of the U.S. Trade Representative.

<img data-document-id="cms/api/amp/image/AA1Cbcdb" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cbcdb.jpg"/>

 On the other hand, imports from China rose only 2.8% from 2023 to 2024, according to government data. Imports from China dropped about 18% last year when compared to 2022, when the U.S. brought in $536.3 billion in goods from the country.


 The duties will hit companies at a time when many consumers have become
 value-conscious and selective about spending
 owing to ongoing inflation and worries about economic conditions
 
 .
 
 It remains uncertain at this point which firms will increase their prices because of the tariffs. Companies might hesitate to absorb these additional expenses, particularly since they anticipate weak consumer spending in the coming months.

<h4>
 The businesses at highest risk due to Vietnam tariffs
</h4>
<img data-document-id="cms/api/amp/image/AA1CaV7R" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CaV7R.jpg"/>

 Several well-known brands will be affected by the new Vietnamese tariffs. Nike produces roughly half of its shoes in both China and Vietnam, with approximately 25% manufactured specifically in Vietnam. According to a White House official speaking to DIwida.Blog & News, Trump plans to impose an additional 34% tariff atop the current 20% duty on goods imported from China, resulting in what would effectively be a 54% tax rate.


 The tariffs would pose an additional challenge for the major player in sneakers and athletic wear, who has already issued a letdown prediction for the present quarter. This outlook, which
 anticipates a drop in sales of more than ten percent
 During this three-month timeframe, we factored in the projected effects of tariffs imposed on goods coming from China and Mexico.


 Extended tariffs might hinder or decrease Nike's attempts to rejuvenate its brand and boost sales under its new CEO Elliott Hill, a long-time company employee who
 assumed command last autumn.


 Nike's stock fell over 6% during after-hours trading on Wednesday. Other key shoe manufacturers like Adidas have significant operations in Vietnam as well.


 The two companies did not immediately respond to DIwida.Blog & News's request for comment.


 In 2023, which provided the latest complete set of annual statistics, approximately one-third of all footwear imported into the U.S. originated from Vietnam. This information comes from the Footwear Distributors and Retailers of America, a trade organization for the sector.


 Steve Madden
 , for example, said on an earnings call in early November that it would slash its imports to the U.S. from China
 by as much as 45%
 over the next year. The footwear maker made that announcement just days after Trump's presidential victory, following his campaign trail promises to impose steep tariffs on countries like China.


 Yet one of the nations Steve Madden has accelerated its move to is Vietnam, along with Cambodia, Mexico and Brazil, CEO Edward Rosenfeld said at the time on the earnings call.


 Vietnam was the
 second largest country
 for suppliers of Ugg and Hoka parent company Deckers Brands as of this month. The company has 68 supply chain partners in Vietnam, which is surpassed only by its 125 suppliers in China. Deckers shares dropped nearly 9% in extended trading. The company did not immediately respond to a request for comment.

<img data-document-id="cms/api/amp/image/AA1CaV7S" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CaV7S.jpg"/>

 VF Corporation, which is made up of footwear, apparel and accessories brands including The North Face, Timberland, Vans and Jansport, has a heavy reliance on China and Vietnam, too. About 38% of its suppliers are in China and 17% are in Vietnam, adding up to 55% of exposure across the two countries, according to a manufacturing disclosure from December.


 The company's shares dropped more than 8% in extended trading Wednesday. VF declined to comment, citing its quiet period before its upcoming earnings report.


 The furniture industry has also ramped up its reliance on Vietnam.


 In 2023, 26.5% of U.S. furniture imports came from the country, close behind the 29% coming from China,  according to data from the Home Furnishings Association, a trade group that lobbies on behalf of home goods retailers. The group cited investment banking firm Mann, Armistead & Epperson – one of the furniture industry's top sources for data.


 Taken together, that means about 56% of U.S. furniture imports come from both regions combined.


 On an earnings call in February, Wayfair CEO Niraj Shah said the shift to countries outside of China has been "a growing trend" since Trump enacted tariffs during his first administration.


 He said places like Cambodia, Indonesia, Thailand, the Philippines and Vietnam "have grown as places where folks have factories and where our goods are coming from."


 Wayfair's stock plunged about 12% in extended trading. In a statement, Wayfair said it is "closely monitoring the evolving trade landscape." The company added it is "well-positioned to continue offering customers the best possible combination of value, assortment, and experience."


 Toymakers have also leaned on Vietnam to make more merchandise that's imported and sold to kids and adults across the U.S. Hasbro, SpinMaster, Mattel and Crayola are among the companies that work with GFT Group, one of the largest toy manufacturers in the Southeast Asia.


 In addition to long-established manufacturing facilities in China, GFT currently has five production facilities in northern Vietnam that employ over 15,000 workers.


 On a call in early March, Funko Chief Financial Officer Yves LePendeven said the company, which is known for its big-eyed plastic collectibles called Pops, was working hard to control what it could in the year ahead. That includes trying to offset tariffs by "renegotiating factory costs, accelerating our shift in production to other sourcing countries, and implementing pricing adjustments," he said.


 On the call, he said about a third of Funko's global product purchases come from China. He didn't name the countries that Funko was moving production to, but it is a customer of GFT Group.


 Those toymakers did not immediately respond to DIwida.Blog & News's requests for comment.


 Curtis McGill is the co-founder of Hey Buddy Hey Pal, a toy company that specializes in Easter egg decorating kits. He said he expects the 46% tariffs to raise toy costs in the U.S., but added companies will likely be negotiating with suppliers in Vietnam to try to mitigate those hikes.


 "A lot of manufacturers and the actual toy companies have been already having conversations with manufacturing plants having to to help in some regards, because the toy companies are getting pressure to try and maintain prices on this side from the retailers," McGill said.

<h4>
 Where do manufacturers go next?
</h4>

 For companies, including apparel makers, the new tariff policies have raised questions about whether — and where — to potentially move their manufacturing. Last month, an investor asked American Eagle Outfitters about its exposure to Vietnam on its most recent earnings call.


 Chief Financial Officer Michael Mathias said the jeans and apparel brand's production is similar in Vietnam and China, with "high-teens to 20%" of production in each of those countries. He said the company aims to trim that back to single-digits by the back half of the year.


 American Eagle shares dipped more than 5% on Wednesday. The company did not immediately respond to DIwida.Blog & News's request for comment.


 Yet both Mathias and American Eagle CEO Jay Schottenstein said on the company's last earnings call that it will be crucial to stay flexible, while waiting to see how tariffs would play out and which countries would be targeted.


 Schottenstein referred to eight years ago during the first Trump administration, when American Eagle also faced challenges and had to figure out a new plan.


 Schottenstein said there's another shift coming, but "nobody knows what the story is yet."


 "I wouldn't be rushing," he said. "You go rush, where am I rushing to? I don't know where I'm rushing to."


 Peter Baum is the chief financial officer and chief operation officer of Baum Essex, a New York-based manufacturer with licenses to make products for brands like Nautica, Betsey Johnson and Steve Madden. During the first Trump administration in 2019, Baum moved factories from from China to the Philippines, Cambodia, Vietnam and India.


 He told DIwida.Blog & Newson Wednesday that the reciprocal tariffs would do massive damage to his company.


 "This is how you start a global depression. After 80 years and five generations Trump just put us out of business," Baum said.


 — DIwida.Blog & News's
 Sarah Whitten
 Jason Gewirtz and Eamon Javers were contributors to this report.

Trump's Tariffs: 46% Could Slam Nike, American Eagle, and Wayfair in Vietnam

A new 46% tariff on Vietnam could soon raise costs for major corporations in the apparel, furniture and toy space, and some of them may...