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The Latest Breaking News from the White House

Trump's New Tariffs on These 3 Countries Look Particularly Foolish

What tariffs on Singapore, Brazil, and Vietnam can tell us about how Trump misunderstands the value of trade.

Reason

Trump’s tariff numbers appear to have been calculated through a simple math formula, which works with every single country on the list

The calculations used by the White House don’t include a detailed assessment of each foreign country's trade practices.

Fortune

Trump's Trade Math Baffles Economists

Trade economists were scratching their heads on Thursday at the formula used by the White House to measure trade imbalances and inflict punishment on all its global trading partners.

International Business Times

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Mexico celebrates dodging latest US tariffs but feels the effects of global economic uncertainty

Mexico is celebrating having dodged the latest round of tariffs from the White House taking aim at dozens of U.S. trading partners around the world

The Independent UK

Macron lashes out against Trump's 'brutal' tariffs, calls for a pause in investment

The European Union 'must not rule out anything' to retaliate against the so-called Liberation Day tariffs, Emmanuel Macron said.

Euronews

‘No pain’: Trump team doubles down on tariffs as global markets plummet - Roll Call

Trump administration officials on Thursday defended President Trump's sweeping worldwide tariffs, but they could hamstring GOP in midterms.

Roll Call

Trump Administration Is Touting Migrant Arrests, But New Data Shows Many Were Already Behind Bars

In the early weeks of the Trump admin, ICE said it arrested 72 criminal migrants. A new investigation shows at least half of them were already arrested.

Latin Times

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CNBC reporter trashes Trump for ‘made-up’ tariff rates: ‘Nobody ever heard of this formula!’

‘Nobody has ever used this formula. So I’m sorry, but the conclusion seems to be that the president kind of made this up as he went along. He made it up,’ Steve Liesman said on Thursday

The Independent UK

Wall St Leads Rout As World Reels From Trump Tariffs

Wall Street led a global markets bloodbath Thursday as countries around the world reeled from President Donald Trump's trade war, while the White House insisted the US economy would emerge victorious.

International Business Times

US stock markets see worst day since Covid pandemic after investors shaken by Trump tariffs

All three major US index funds close down as Apple and Nvidia, two of US’s largest companies, lose combined $470bn

The Guardian - US

US tariffs on world-wide scale could create recessionary trends, Taoiseach says

Micheal Martin said he is concerned about the impact on investments and jobs in Ireland, the EU and across the world.

Evening Standard

What to know about President Donald Trump's vast array of tariffs

President Donald Trump followed through on his tariff threats by declaring on Wednesday a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the US.

Euronews

Trump’s ‘idiotic’ and flawed tariff calculations stun economists

‘Willing sycophants’ came up with simplistic formula that has thrown global economy into disarray

The Guardian - UK

How do the tariffs imposed on the UK compare with other nations?

With some countries facing tariffs of more than 50%, how does the UK fare?

Evening Standard

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The Independent UK

Trump closes China tariff loophole used by fast fashion retailers like Shein and Temu

Imported goods under $800 will now be subject to duties of either 30 per cent of their value or $25 per item

Tom’s Hardware

Trump creates U.S. Investment Accelerator to manage CHIPS Act and 'negotiate much better deals'

President Trump established the U.S. Investment Accelerator office to manage CHIPS Act awards and make it easier for investors to build businesses within the U.S.

Al Jazeera

Trump’s auto tariffs could help China’s carmakers, experts say

Trump’s 25 percent tariff could ‘level the playing field’ for Chinese brands insulated from the US market, analyst say.

International Business Times

Top Russian Official In Washington For Talks On Improving Ties

Russia's top economic negotiator announced Thursday that he was in Washington for talks on improving ties, the highest-level visit by a Kremlin official to the United States since Russia invaded Ukraine.

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The Independent UK

CNN political analyst claims President Donald Trump’s advisors are ‘tired of Musk’s presence’

Musk’s approach has been described as like a ‘chainsaw, not a scalpel,’ the New York Times’ chief White House correspondent Maggie Haberman says

Barchart

Stocks Plummet Before the Open as Trump’s Tariffs Stoke Recession Worries

June S&P 500 E-Mini futures (ESM25) are down -3.09%, and June Nasdaq 100 E-Mini futures (NQM25) are down -3.42% this morning, pointing to a sharply lower open on Wall Street as sweeping tariffs announced by U.S. President Donald Trump fueled fears of an escalating trade war and economic slowdown.

Salon

Trump-MAGA experience machine ramps up

As the president's victory march comes to a slow, MAGA's parallel universe of propaganda ramps up

The Independent UK

Trump tariffs: How could Europe retaliate as trade war breaks out

The sweeping round of ‘Liberation Day’ tariffs was unveiled by Donald Trump in the White House on Wednesday - but how will the EU react?

The Independent UK

Trump tariffs list in full: Every country hit and the surprising exemptions

Some of the world’s weakest economies in Asia are among those hardest-hit in opening salvo of global trade war

Evening Standard

Need for ‘maturity’ in EU-US talks on tariffs, Harris says

His assessment came after US President Donald Trump announced that he was imposing a sweeping 20% tariff on imports from the EU.

The Guardian - AU

‘Nowhere on Earth is safe’: Trump imposes tariffs on uninhabited islands near Antarctica

Australian prime minister surprised after remote external territories – including islands home to penguins – targeted by US president

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