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The Pentagon inspector general’s office will investigate Defense Secretary Pete Hegseth’s use of commercial messaging app Signal to discuss air strikes on Yemen, a memo released Thursday said.President Donald Trump’s administration is facing a scandal over the accidental leak of a group chat by senior security officials on the strikes, which targeted Yemen’s Huthi rebels in a bid to curb their attacks on commercial shipping and military vessels in the Red Sea and Gulf of Aden.The probe will evaluate “the extent to which the Secretary of Defense and other DoD personnel complied with DoD policies and procedures for the use of a commercial messaging application for official business,” said the memo from the acting inspector general, Steven Stebbins.”Additionally, we will review compliance with classification and records retention requirements,” according to the memo, which said the investigation is in response to a request from the top two members of the Senate Armed Services Committee, a Republican and a Democrat.The Atlantic magazine revealed last week that its editor — a well-known US journalist — was inadvertently included in the Signal chat in which officials including Trump’s National Security Advisor Mike Waltz and Hegseth discussed details of air strike timings and intelligence.

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 will emerge victorious.The Dow Jones dropped more than three percent and the S&P 500 plummeted more than four percent. The Nasdaq toppled more than five percent.Shock waves also tore through markets in Asia and Europe in the wake of Trump’s Wednesday announcement, while foreign leaders signaled readiness to negotiate but also threatened counter-tariffs.Trump slapped 10 percent import duties on all nations and far higher levies on imports from dozens of specific countries — including top trade partners China and the European Union.Separate tariffs of 25 percent on all foreign-made cars also went into effect and Canada swiftly responded with a similar levy on US imports.In a sign of the real-world impacts expected to become common, Stellantis — the owner of Jeep, Chrysler and Fiat — paused production at some Canadian and Mexican assembly plants.Trump dismissed the turmoil, insisting to reporters as he left for a weekend at his Florida golf resorts, that stocks will “boom.”- ‘Trust Donald Trump’ -Trump, 78, says he wants to make the United States free from reliance on foreign manufacturers in a massive economic reshaping.And he likened his trade policy declaration to a painful medical procedure.”THE OPERATION IS OVER! THE PATIENT LIVED,” he posted on his Truth Social app, with his trademark use of all-caps.”THE PATIENT WILL BE FAR STRONGER, BIGGER, BETTER, AND MORE RESILIENT THAN EVER BEFORE.”Amid howls of protest abroad and from even some of Trump’s Republicans, Commerce Secretary Howard Lutnick called for patience.”Let Donald Trump run the global economy. He knows what he’s doing,” he said on CNN. “You’ve got to trust Donald Trump in the White House.”But China demanded that the tariffs be immediately canceled and vowed countermeasures, while France and Germany warned that the EU could hit back at US tech firms.French President Emmanuel Macron called for suspending investment in the United States until what he called the “brutal” new tariffs had been “clarified.”The 27-nation EU and other countries also showed willingness to negotiate as they refrained from immediate retaliatory measures, with almost a week until the harsher US levies actually take effect.Beijing said it was “maintaining communication” with Washington over trade issues, and EU trade chief Maros Sefcovic planned to speak with US counterparts on Friday.However, Brazil’s president vowed to take “all appropriate measures.”Gold — a safe-haven investment — hit a new record prices, oil fell and the dollar slumped against other major currencies.The head of the World Trade Organization, which helps manage global trading, warned the upheaval may lead to contraction of “one percent in global merchandise trade volumes this year.”- Global economic ‘sumo wrestler’ -Trump has brushed off warnings about triggering a global economic slowdown and politically damaging price rises at home.Republican Senator Mitch McConnell broke ranks with Trump, slamming tariffs as “bad policy.””Preserving the long-term prosperity of American industry and workers requires working with our allies, not against them,” he said.But while Trump is under pressure to avoid a drawn-out trade war, he appears determined to stick with the tariffs until he forces competitors to play by US rules.White House spokeswoman Karoline Leavitt told CNN that Trump made it clear that “this is not a negotiation.”And Lutnick also struck a hard line, saying, “You can’t really fight with the United States.””You fight… the greatest customer in the world, you’re going to lose. We are the sumo wrestler of this world,” he said.- ‘Treat us badly’ -Trump reserved some of the heaviest blows for what he called “nations that treat us badly.” That included an additional 34 percent on goods from China — bringing the new added tariff rate there to 54 percent.  The figure for the European Union was 20 percent, and 24 percent on Japan.For the rest, Trump said he would impose a “baseline” tariff of 10 percent, including on another key ally, Britain, which will come into effect on Saturday while the higher duties will kick in on April 9.burs-sms/bgs

US Secretary of State Marco Rubio told nervous NATO members on Thursday that Washington remained committed to the alliance, but said they must agree to massively ramp up their spending targets for defence. President Donald Trump has rattled Europe by casting doubt on his willingness to defend all allies, and by reaching out to Russia over the war in Ukraine — before further raising tensions with his latest trade tariffs. “Some of this hysteria and hyperbole that I see in the global media and some domestic media in the United States about NATO is unwarranted,” Rubio said on his first visit to meet his NATO counterparts in Brussels. “President Trump’s made clear he supports NATO. We’re going to remain in NATO,” he said.Ahead of NATO’s June summit in The Hague, Trump has demanded that the alliance more than double its current spending target to five percent of GDP — more than any, including Washington, spend now.  “We do want to leave here with an understanding that we are on a pathway, a realistic pathway to every single one of the members committing and fulfilling a promise to reach up to five percent spending, and that includes the United States,” Rubio said.”No one expects you’re gonna be able to do this in one year or two. But the pathway has to be real,” Rubio said. He insisted that Trump was “not against NATO. He is against a NATO that does not have the capabilities that it needs to fulfil the obligations.”The words of reassurance will provide succour to allies, who are rushing in the meantime to show Washington they are stepping up. A string of European countries have announced steep increases in military budgets, with economic powerhouse Germany opening the way for a major splurge. “Great things are happening. Over the last couple of months, we literally see hundreds of billions of euros rolling in,” NATO chief Mark Rutte said. “So this is probably the biggest increase in defence spending here on the European side of NATO since the end of the Cold War,” he said. “But we still need more.”- No ‘sudden’ withdrawal -As Europe grapples with the threat from Russia, Trump’s administration has set the continent on edge by raising the prospect it could shift forces away to focus on other challenges like China. Officials have said that if Washington is planning a major shift away it needs to agree a clear timeline over years for Europe to fill the gaps left behind. “There are no plans for them to all of a sudden draw down their presence here in Europe,” Rutte said.”But we know that for America, being the superpower they are, they have to attend to more theatres than one. It’s only logical that you have that debate.”Europe is nervously eyeing Trump’s outreach to its number one nemesis Russia as he sidelines allies to press for a deal with Moscow to end the Ukraine war. Allies are pleading with Trump to stand strong against Moscow as he pushes for a partial ceasefire despite the warring sides trading accusations of ongoing strikes.He has cheered allies by menacing Putin with sanctions for dragging his feet,  but there are fears Trump may ultimately want to draw close to a country viewed as NATO’s main foe.- ‘Increase pressure’ -“It is time to increase pressure on Moscow. Now is the time for diplomacy, but also pressure and deterrence,” Ukraine Foreign Minister Andriy Sybiga said as he met NATO counterparts. “While the media attention is on global trade wars, we must not forget there is a real, full scale war going on in Europe. Russia remains an existential threat to Europe.”Foreign ministers largely looked to skirt the issue of a looming trade war after Trump’s hefty tariffs on allies, in particular the European Union.But some warned that economic disputes risked jeopardising NATO’s unity and its ability to strengthen itself. “It’s important to understand that we grow faster and better together, that if we want to build resources for a stronger defence, we need to have economic growth,” Norway’s Espen Barth Eide said.”Protectionism will not do us any good.”

New York Mayor Eric Adams, who saw corruption charges against him dismissed this week, said on Thursday he would run as an independent, after being heavily criticized by members of his Democratic Party over his cooperation with President Donald Trump.The move allows Adams to bypass an upcoming Democratic primary election ahead of the mayoral vote in the United States’ largest city in November. On Wednesday, a federal judge dismissed corruption charges against Adams, while sharply criticizing apparent efforts by Trump’s administration to use the case as political leverage over the city leader.”The dismissal of the bogus case against me dragged on too long, making it impossible to mount a primary campaign while these false accusations were held over me,” said Adams in a short video on Thursday.”But I’m not a quitter. I’m a New Yorker,” said Adams, whose approval rating was down to 20 percent by last month, according to a Quinnipiac poll.Adams has come under fire for cozying up to Republican Trump since he took office, agreeing to enforce the White House’s crackdown on immigration despite New York’s policy of being a “sanctuary city.” On Wednesday, while dismissing the charges against the mayor, Judge Dale Ho was nonetheless excoriating about the circumstances.”Everything here smacks of a bargain: dismissal of the Indictment in exchange for immigration policy concessions,” Ho wrote.In his video, Adams vowed that he would remain a Democrat, despite running as an independent. The 64-year-old would have faced a crowded field in the Democratic primary, led by former governor Andrew Cuomo, who like Adams was once a rising star in the party before being disgraced and forced to resign after allegations of sexual assault and harassment.Cuomo is leading in the polls, followed by Zohran Mamdani, a grassroots organizer and political outsider who is gaining momentum.”There is nothing ‘independent’ about Eric Adams, who is completely beholden to real estate moguls, billionaires, and the far-right,” said Mamdani, reacting to Adams’s announcement. A former police officer from a modest family, and New York’s second African-American mayor, Adams was initially popular but saw his star wane under the weight of corruption allegations, rising costs of living and other challenges. The mayor was accused of wire fraud, soliciting illegal foreign campaign donations and a bribery conspiracy involving Turkish citizens and at least one Turkish official. He denies the charges. New York is a bastion of the Democratic party, and the party’s candidate will be the favorite to win November’s election.

Indian police said on Thursday they had arrested a US tourist who sneaked onto a highly restricted island carrying a coconut and a can of Diet Coke to a tribe untouched by the modern world.Mykhailo Viktorovych Polyakov, 24, set foot on the restricted territory of North Sentinel — part of India’s Andaman Islands — in a bid to meet the Sentinelese people, who are believed to number only around 150.All outsiders, Indians and foreigners alike, are banned from travelling within five kilometres (three miles) of the island to protect the Indigenous people from outside diseases and to preserve their way of life.”The American citizen was presented before the local court after his arrest and is now on a three-day remand for further interrogation,” Andaman and Nicobar Islands police chief HGS Dhaliwal told AFP.Satellite photographs show a coral reef-fringed island — stretching to some 10 kilometres (six miles) at its widest point — with thick forest and white sand beaches.The Sentinelese last made international headlines in 2018 after they killed John Allen Chau, 27, an American missionary who landed illegally on their beach.Chau’s body was not recovered and there were no investigations over his death because of the Indian law prohibiting anyone from going to the island.India sees the wider Andaman and Nicobar Islands as strategically sited on key global shipping lanes. They are closer to Myanmar than mainland India.New Delhi plans to invest at least $9 billion to expand naval and air bases, troop accommodations, the port and the main city in the region.- Bow and arrows -Dhaliwal said Polyakov kept blowing a whistle off the shore of North Sentinel Island for about an hour to attract the tribe’s attention before he went ashore.”He landed briefly for about five minutes, left the offerings on the shore, collected sand samples, and recorded a video before returning to his boat,” Dhaliwal said.”A review of his GoPro camera footage showed his entry and landing into the restricted North Sentinel Island.”Police said Polyakov was arrested late on Monday, about two days after he went ashore, and had visited the region twice in recent months.He first used an inflatable kayak in October 2024 but was stopped by hotel staff, police said on Thursday. Polyakov made another unsuccessful attempt during a visit in January 2025.This time Polyakov used another inflatable boat with a motor to travel the roughly 35 kilometres (22 miles) of open sea from the main archipelago.The Sentinelese, whose language and customs remain a mystery to outsiders, shun all contact and have a record of hostility to anyone who tries to get close.A photograph issued by the Indian Coast Guard and Survival International two decades ago showed a Sentinelese man aiming a bow and arrow at a passing helicopter.Indian authorities have prosecuted any locals who have aided attempts to enter the island and are trying to identify anyone who may have helped Polyakov.The Andamans are also home to the 400-strong Jarawa tribe, who activists say are also threatened by contact from outsiders. Tourists have previously bribed local officials in a bid to spend time with the Jarawa.

Major US trade partners pilloried US President Donald Trump’s global tariffs onslaught on Thursday, but left the door open to negotiations as markets tanked over fears his trade war would damage the world economy.Trump spared almost no nation on his “Liberation Day” on Wednesday, hitting friends and foes alike and reserving some of the harshest tariffs for major trade partners, including the European Union and China.China demanded that the tariffs be “immediately cancelled” and vowed “countermeasures”, while France and Germany warned that the EU could hit US tech firms.But the 27-nation EU and other countries also showed willingness to negotiate as they refrained from immediate retaliatory measures, with almost a week until the harsher US levies take effect.Beijing said it was “maintaining communication” with Washington over trade issues, and EU trade chief Maros Sefcovic planned to speak with US counterparts on Friday.”Unjustified tariffs inevitably backfire,” Sefcovic posted on X. “We’ll act in a calm, carefully phased, unified way, as we calibrate our response, while allowing adequate time for talks. But we won’t stand idly by, should we be unable to reach a fair deal,” he added.However, White House spokeswoman Karoline Leavitt told CNN that Trump “made it clear yesterday (Wednesday) this is not a negotiation”.The tariff announcements rattled stock markets while safe haven gold hit a new record high, oil prices fell and the dollar slumped against other major currencies.”The last 24 hours have seen an historic transformation to the global trading system,” said Jim Reid, analyst at Deutsche Bank’s research arm.”There are some credibility issues over how the (tariff) calculations have been made and markets are already highlighting this, with the dollar index seeing its largest fall today since 2022,” Reid added.Wall Street’s main indexes opened deep in the red, with the tech-heavy Nasdaq sinking more than four percent and the broad-based S&P 500 shedding more than three percent.European stock markets were down sharply in afternoon trading, with Paris shedding three percent.In Asia, Tokyo’s Nikkei closed 2.8 percent lower after paring back bigger losses. Hanoi shares dropped more than seven percent after Vietnam was targeted with tariffs of 46 percent.- ‘Treat us badly’ -Trump reserved some of the heaviest blows for what he called “nations that treat us badly.” That included an additional 34 percent on goods from China — bringing the new added tariff rate there to 54 percent.  The figure for the European Union was 20 percent, and 24 percent on Japan.For the rest, Trump said he would impose a “baseline” tariff of 10 percent, including on another key ally, Britain, which will come into effect on Saturday while the higher duties will kick in on April 9.The White House said Russia was spared because it is already under sanctions over its war in Ukraine which “preclude any meaningful trade”.Trump labelled Wednesday’s tariffs “reciprocal” but many experts say his administration’s estimates for levies placed on US imports by other countries are wildly exaggerated.Separate tariffs of 25 percent on all foreign-made cars also went into effect.Business lobbies voiced concerns about the impact of tariffs, which already prompted US-European automaker Stellantis, owner of Jeep, Chrysler and Fiat, to announce it would temporarily pause production at some Canadian and Mexican assembly plants.- ‘Catastrophe’ for economy -While economists say US consumers would be the first to pay the price from tariffs, Trump insisted on his Truth Social platform Thursday that the US economy would emerge “far stronger … than ever before”.French Prime Minister Francois Bayrou said the tariffs were a “catastrophe” for the world economy but also “for the United States and for American citizens”.Germany said “everything was on the table” as it joined France in saying the EU could tax US tech giants.German Chancellor Olaf Scholz, whose country is a major exporter of cars to the United States, called the US tariffs “fundamentally wrong” but said Europe was open to further talks.Australian Prime Minister Anthony Albanese said the tariffs are “not the act of a friend” but he said his country, which was hit by the lower 10 percent tariff, would not retaliate.Certain goods like copper, pharmaceuticals, semiconductors, lumber and gold will not be subject to the tariffs.Canada and Mexico are not affected by the new levies as Trump has already punished them for what he says is their failure to stymie drug trafficking and illegal immigration.Canadian Prime Minister Mark Carney said Trump’s duties “fundamentally change the global trading system”.burs-lth/gv

Hundreds of Lithuanians on Thursday paid their respects to four US soldiers who died when their vehicle sank in a peat bog at a military training ground in the Baltic state.Three of the soldiers were found dead on Monday when rescuers recovered their M88 Hercules armoured vehicle from a swamp in eastern Lithuania, where it had gone missing last week. The fourth soldier was found a day later.Lithuania, a NATO and EU member bordering Russia and Belarus, hosts more than 1,000 American troops stationed on a rotational basis.Lithuanian President Gitanas Nauseda and other officials watched as a procession with the soldiers’ remains stopped in a central square in the capital Vilnius before the bodies were flown back to the United States.Hundreds of people held US and Lithuanian flags as the procession passed on an arterial avenue and cathedral bells tolled.The bodies will be flown to Dover, the capital of Delaware. “We ourselves have experienced many different challenges in our own history, so we are well aware of what loss, death, and the honourable performance of duty means,” Nauseda told reporters.”Their willingness to be with us… in this tough neighbourhood is the best proof of who our friends are today,” he added.Lithuania, a staunch supporter of Kyiv, has ramped up defence spending and training since Russian troops invaded Ukraine in 2022, voicing fears that Moscow could target it next.Defence Minister Dovile Sakaliene said on Thursday that “every soldier of our allies is our own”.”They came to Lithuania, our land, to defend our citizens, and their deaths during an exercise are a very painful loss,” she added.Lithuanian authorities received a report last week that the soldiers had gone missing during a military drill at a training ground in the eastern city of Pabrade, near the border with Belarus.Hundreds of local and foreign troops and others including engineers and divers were then involved in a search and rescue operation. A private fundraising campaign in Lithuania has raised 232,000 euros ($257,000) for the families of the soldiers.

US Secretary of State Marco Rubio told nervous NATO members on Thursday that Washington remained committed to the alliance, but said they must agree to massively ramp up their spending targets for defence. President Donald Trump has rattled Europe by casting doubt on his willingness to defend all allies, and by reaching out to Russia over the war in Ukraine — before further raising tensions with his latest trade tariffs. “Some of this hysteria and hyperbole that I see in the global media and some domestic media in the United States about NATO is unwarranted,” Rubio said on his first visit to meet his NATO counterparts in Brussels. “President Trump’s made clear he supports NATO. We’re going to remain in NATO,” he said.Ahead of NATO’s June summit in The Hague, Trump has demanded that the alliance more than double its current spending target to five percent of GDP — more than any, including Washington, spend now.  “We do want to leave here with an understanding that we are on a pathway, a realistic pathway to every single one of the members committing and fulfilling a promise to reach up to five percent spending, and that includes the United States,” Rubio said.”No one expects you’re gonna be able to do this in one year or two. But the pathway has to be real,” Rubio said. He insisted that Trump was “not against NATO. He is against a NATO that does not have the capabilities that it needs to fulfil the obligations.”The words of reassurance will provide succour to allies, who are rushing in the meantime to show Washington they are stepping up. A string of European countries have announced steep increases in military budgets, with economic powerhouse Germany opening the way for a major splurge. “Great things are happening. Over the last couple of months, we literally see hundreds of billions of euros rolling in,” NATO chief Mark Rutte said. “So this is probably the biggest increase in defence spending here on the European side of NATO since the end of the Cold War,” he said. “But we still need more.”- No ‘sudden’ withdrawal -As Europe grapples with the threat from Russia, Trump’s administration has set the continent on edge by raising the prospect it could shift forces away to focus on other challenges like China. Officials have said that if Washington is planning a major shift away it needs to agree a clear timeline over years for Europe to fill the gaps left behind. “There are no plans for them to all of a sudden draw down their presence here in Europe,” Rutte said.”But we know that for America, being the superpower they are, they have to attend to more theatres than one. It’s only logical that you have that debate.”Europe is nervously eyeing Trump’s outreach to its number one nemesis Russia as he sidelines allies to press for a deal with Moscow to end the Ukraine war. Allies are pleading with Trump to stand strong against Moscow as he pushes for a partial ceasefire despite the warring sides trading accusations of ongoing strikes.He has cheered allies by menacing Putin with sanctions for dragging his feet,  but there are fears Trump may ultimately want to draw close to a country viewed as NATO’s main foe.”We have to admit that there is only one aggressor in this situation. This is Russia,” Lithuania’s Foreign Minister Kestutis Budrys said.  “Russia is a long-term, direct military threat to all NATO and to Ukraine, and for Ukraine, we need a just and long lasting peace,” he said.Meanwhile, Britain and France are spearheading talks on sending troops to Ukraine to shore up any deal Trump might strike. – Sidestepping tariff row? -Beyond NATO and Ukraine, Trump has also rocked allies by making territorial threats against Canada and Denmark, insisting that he will take over Greenland. Rubio was set to meet his Danish counterpart after tensions soared between the two sides following a visit by Vice President JD Vance to the territory.Foreign ministers largely looked to skirt the issue of a looming trade war after Trump’s hefty tariffs on allies, in particular the European Union.But some warned that economic disputes risked jeopardising NATO’s unity and its ability to strengthen itself. “It’s important to understand that we grow faster and better together, that if we want to build resources for a stronger defence, we need to have economic growth,” Norway’s Espen Barth Eide said.”Protectionism will not do us any good.”

Countries vowed Thursday to hit back at US President Donald Trump’s global tariffs onslaught but left the door open to negotiations, as markets tumbled over fears his trade war would damage the world economy.Trump spared almost no nation on his “Liberation Day”, hitting friends and foes alike and reserving some of the harshest tariffs for major trade partners, including the European Union and China.Holding up a chart of the sweeping measures in the White House Rose Garden on Wednesday, Trump called it “our declaration of economic independence”.”For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” Trump said, promising the move would restore a lost economic “Golden Age”.Nations around the world reacted swiftly, with China vowing “countermeasures” while France and Germany warned that the EU could hit US tech firms operating in Europe with a tax.EU chief Ursula von der Leyen vowed Europe was “prepared to respond” to the tariffs, calling them a “major blow to the world economy”.But the 27-nation EU and other countries also showed willingness to negotiate, while Beijing said it was “maintaining communication” with Washington over trade issues.The tariff announcements rattled stock markets while safe haven gold hit a new record high and the dollar slumped against other major currencies.In Asia, Tokyo’s Nikkei closed 2.8 percent lower after paring back bigger losses. Hanoi shares dropped more than seven percent after Vietnam was targeted with tariffs of 46 percent.Europe’s main stock markets were all in the red nearing midday trading, while US futures plummeted.”Stocks are down around the world but these are not traditional panic moves, suggesting that there is still some expectation that deals can be cut to reduce some of the impact from tariffs,” said Kathleen Brooks, research director at XTB trading platform.Trump reserved some of the heaviest blows for what he called “nations that treat us badly.” That included an additional 34 percent on goods from China — bringing the new added tariff rate there to 54 percent.  The figure for the European Union was 20 percent, and 24 percent on Japan, whose trade minister called the tariffs “extremely regrettable”.For the rest, Trump said he would impose a “baseline” tariff of 10 percent, including another key ally, Britain, which will come into effect on Saturday while the higher duties will kick in on April 9.Separate tariffs of 25 percent on all foreign-made cars and light trucks also went into effect, with auto parts due to be hit by May 3.- ‘Catastrophe’ for economy -US Treasury Secretary Scott Bessent warned against countermeasures, saying on Fox News: “If you retaliate, there will be escalation.”Germany said “everything was on the table” as it joined France in saying the EU could tax US tech giants.But German Chancellor Olaf Scholz, whose country is a major exporter of cars to the United States, said Europe was open to further talks to end the trade war. He called the US tariffs “fundamentally wrong”.Britain escaped relatively lightly after a diplomatic offensive, though Prime Minister Keir Starmer warned there would still be an “economic impact” from the 10 percent tariff on UK goods.Australian Prime Minister Anthony Albanese said the tariffs are “not the act of a friend” but he said his country, which was also hit with the lower end of duties, would not retaliate.Some of the worst-hit trading partners were in Asia, including 49 percent for Cambodia, 46 percent for Vietnam and 44 percent for military-ruled Myanmar, recently hit by a devastating earthquake.Russia was not affected because it is already facing sanctions over the Ukraine war “which preclude any meaningful trade”, a White House official said.Certain goods like copper, pharmaceuticals, semiconductors, lumber and gold will not be subject to the tariffs.Canada and Mexico are not affected by the new levies as Trump has already punished them for what he says is their failure to stymie drug trafficking and illegal immigration.Canadian Prime Minister Mark Carney vowed to “fight” the existing levies.- ‘Make America wealthy again’ -Trump’s announcement is the culmination of a long love affair with tariffs, which he has seen for decades as a cure-all for America’s trade imbalances and economic ills.A hand-picked audience of cabinet members, as well as workers in hard hats from industries including steel, oil and gas, whooped and cheered as Trump promised tariffs would “make America wealthy again”.Trump labelled Wednesday’s tariffs “reciprocal” but many experts say his administration’s estimates for levies placed on US imports by other countries are wildly exaggerated.The US president had telegraphed the move for weeks, sparking fears of a recession at home as costs are passed on to domestic consumers.French Prime Minister Francois Bayrou said the tariffs were a “catastrophe” for the world economy but also “for the United States and for American citizens”.burs-lth/phz

Countries vowed on Thursday to hit back at US President Donald Trump’s global tariffs onslaught, but left the door open to negotiations as markets tumbled over fears his trade war would damage the world economy.Trump spared almost no nation on his “Liberation Day”, hitting friends and foes alike and reserving some of the harshest tariffs for major trade partners, including the European Union and China.Separate tariffs of 25 percent on all foreign-made cars and light trucks also went into effect, with auto parts due to be hit by May 3.Holding up a chart of the sweeping measures in the White House Rose Garden on Wednesday, Trump said this was “one of the most important days, in my opinion, in American history.””It’s our declaration of economic independence,” he said.The tariffs announcement triggered immediate anger around the world, with rival China warning they could “endanger” global economic development.EU chief Ursula von der Leyen vowed Europe was “prepared to respond” to the tariffs, calling them a “major blow to the world economy.”But the 27-nation bloc and other countries also said they were ready to negotiate.The tariff announcements sent a shockwave through stock markets.In Asia, Tokyo’s Nikkei closed 2.8 percent lower while Hanoi shares dropped more than seven percent after Vietnam was targeted with tariffs of 46 percent.European equities opened in the red, with Frankfurt the biggest faller at 2.2 percent, while US futures plummeted and safe haven gold hit a new record as investors took fright.Trump reserved some of the heaviest blows for what he called “nations that treat us badly.” That included an additional 34 percent on goods from China — bringing the new added tariff rate there to 54 percent. Beijing swiftly vowed countermeasures and called for dialogue, warning the levies would “seriously harm” those involved. The figure for the European Union was 20 percent, and 24 percent on Japan, whose trade minister called the tariffs “extremely regrettable.”For the rest, Trump said he would impose a “baseline” tariff of 10 percent, including another key ally, Britain, which will come into effect on Saturday while the higher duties will kick in on April 9.The 78-year-old Republican brushed off fears of turmoil, insisting that the tariffs would restore the US economy to a lost “Golden Age.””For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” Trump said.- ‘Master of the world’ -The French government warned that the EU could target US tech firms with taxes on online services.”We have a whole range of tools and we are ready for this trade war,” French government spokeswoman Sophie Primas told broadcaster RTL, adding that Trump “thinks he is the master of the world”.But Germany, a major exporter of cars to the US, said it backed a “negotiated solution”.Italian Prime Minister Giorgia Meloni, a close Trump ally, said the levies on the EU were “wrong” but pledged to seek a deal.Britain escaped relatively lightly after a diplomatic offensive, but Prime Minister Keir Starmer warned there would still be an “economic impact” from the 10 percent tariff on UK goods.Canada and Mexico are not affected by the new levies as Trump has already punished them for what he says is their failure to stymie drug trafficking and illegal immigration.Canadian Prime Minister Mark Carney vowed to “fight” the existing levies.Trump’s announcement is the culmination of a long love affair with tariffs, which he has seen for decades as a cure-all for America’s trade imbalances and economic ills.- ‘Make America wealthy again’ -A hand-picked audience of cabinet members, as well as workers in hard hats from industries including steel, oil and gas, whooped and cheered as Trump promised tariffs would “make America wealthy again.”Trump labeled Wednesday’s tariffs “reciprocal” but many experts say his administration’s estimates for levies placed on US imports by other countries are wildly exaggerated.The US president had telegraphed the move for weeks, sparking fears of a recession at home as costs are passed on to US consumers.US Treasury Secretary Scott Bessent warned against countermeasures, saying on Fox News: “If you retaliate, there will be escalation.”Some of the worst-hit trading partners were in Asia, including 49 percent for Cambodia, 46 percent for Vietnam and 44 percent for military-ruled Myanmar, recently hit by a devastating earthquake.Russia was not affected because it is already facing sanctions over the Ukraine war “which preclude any meaningful trade,” a White House official said.Certain goods like copper, pharmaceuticals, semiconductors, lumber and gold will not be subject to the tariffs, according to the White House.burs-lth/jm