.
Asia
Yemen
09:43-9 April 2025 The Iran-backed Houthis are in disarray over escalating American strikes targeting military and security sites, as well as weapons depots belonging to them, Yemeni Minister of Information Eryani said, revealing that the group has lost nearly 30% of its military capabilities. Al-Eryani told that the recent strikes have directly hit "the military capabilities of the Houthi group, targeting mainly infrastructure related to ballistic missiles and drones, which were used to threaten international maritime navigation in the Red Sea, Bab el-Mandeb, and the Gulf of Aden." US President Trump had ordered the start of the military campaign against the Houthis on March 15. In the past four weeks, the Houthis have been hit by 365 air and naval strikes, especially in the group's strongholds in the governorates of Saada, Sanaa, Amran, and Hodeidah. (Source: Asharq Al-Awsat – Headquarters London, United Kingdom, owned by a member of Saudi royal family.)
Caribbean
Dominican Republic
Thursday 10 April 2025 Death toll hits 184 two days after the roof came crashing down on some 300 people enjoying a live music show at the Jet Set nightclub. The nightclub was packed with musicians, retired Major League Baseball players and government officials for a concert by Pérez, known as the “loudest voice in merengue”, on Tuesday night, when the entire roof collapsed. 145 people had been rescued. Search and rescue work would now transition to recovery of the bodies as any hopes of finding survivors had faded, exhausted. "All rescue agencies have provided the necessary assistance and are working tirelessly. Our prayers are with the affected families”, President Abinader said on X. (Source: Independent – United Kingdom)
North America
Canada
09 April, 2025 On 1 February, President Trump issued an Executive Order imposing a 10% tariff on Canadian energy products and a 25% tariff on all other Canadian products. These tariffs were set to take effect on 4 February. After reaching an agreement with Canada on border enforcement, President Trump announced that the tariffs would be suspended for 30 days. Canada committed to implementing a $1.3 billion border security plan and launching a Canada-US Joint Strike Force on organised crime, among other measures. On 4 March, the suspension ended and the tariffs came into force. On the same day, Canada imposed an additional 25% tariff on $30 billion worth of US goods. Canada also lodged a request for consultations with the US before the WTO. Canada raised the same Article I:1 and II:1(a) and (b) GATT legal arguments as China but also alleged that President Trump’s measures fail to “provide, to the extent possible, for a de minimis shipment value or dutiable amount for which customs duties and taxes will not be collected”. Canada additionally claims that the measures breach Article V:3 GATT as the measures “at issue apply a customs duty to goods in transit.” Canada also claims that its request is a matter of urgency on the basis that the tariffs apply to agricultural “perishable goods.” In such cases, a WTO panel is required to issue its report within three months, instead of the usual six months. Prompted by concerns raised by US car manufacturers whose supply chains stretch across North America, on 6 March, the US exempted products that satisfy the ‘rules of origin’ requirements under the United States-Mexico-Canada Agreement (USMCA), covering a significant proportion of Canadian imports. This did not affect Canada’s retaliatory measures, nor its WTO action. On 14 March, the US responded to Canada’s request for consultations on the same basis as its response to China. On 12 March the US imposed a 25% tariff on aluminium and steel products from all sources. Canada was lodging another request for consultations, repeating the same arguments in its other request. On 20 March, the EU submitted a request to join Canada’s consultations, citing its “substantial trade interest” in the dispute given that the US steel and aluminium tariffs also affect a total of €26 billion of EU exports. In its response, the US reiterated the claim that the measures taken relate to issues of national security. As of 9 April, the US has yet to respond to the EU’s consultation request. A 25% tariff on imports of automobiles came into effect on 2 April (and will come into effect on certain automobile parts no later than 3 May). These tariffs are additional to the current tariffs that the US already charges on imports of automobiles and automobile parts - the US’ most-favoured nation tariff on automobiles is 2.5%. The tariffs that Trump separately announced on China, Canada and Mexico in February and March are payable in addition to this tariff. The Section 301 tariffs that were announced under the Biden administration on electric vehicles and lithium-ion vehicle batteries from China will also need to be added on top of this additional 25% tariff. These tariffs are origin-neutral, and the basis for these tariffs is that protecting the US automobile industry is vital to national security. On 3 April Canada requested WTO consultations with the US, raising the same Article I:1 and II:1(a) and (b) GATT legal arguments included in its previous requests. In addition, Canada alleges that the tariffs are inconsistent with Article VIII:3 GATT as the measures “impose substantial penalties for minor breaches of customs regulations or procedural requirements.” /Source: Freshfields LLP (formerly Freshfields Bruckhaus Deringer) - Headquarters London, United Kingdom/
United States
April 10, 2025 Speaking in the Oval Office yesterday, U.S. President Trump said was not concerned about the economic conflict with China escalating further, calling Chinese President Xi "one of the very smart people of the world." He has dismissed concerns of his trade war with China escalating beyond the exchange of ’eye-watering tariffs’. I don't think he would allow that to happen, Trump said. The U.S. is far more powerful than people understand, he added. ’We have weaponry that nobody has any idea what it is and it is the most powerful weapons in the world that we have.’ So nobody is going to do that, Trump told reporters. (Source: Miami Herald - U.S.)
April 9, 2025 The military use of space is evolving quickly, necessitating not only new capabilities but also creating entirely new missions, securing greater funding. The chief of space operations (CSO) noted in April 2025 that “overly restrictive space policy and outdated ways of thinking” are holding back U.S. military space power. The Space Force has proposed establishing a new command, called Space Futures Command, to assess the long-term capabilities required to maintain the U.S. edge in space. New capabilities are important, but so are new missions. The military use of space is in such an early stage that no one has perhaps quite figured out all the military space missions and functions themselves. During congressional testimony on April 3, 2025, the CSO directly spoke about this, suggesting there might be a need for a “process by which we will evaluate new missions”. There are already several new missions on the horizon. The Golden Dome initiative, specifically missile intercept from space, is one such mission. Space sensing will play a critical role in Golden Dome, as it does today in the U.S. early warning architecture, with satellites used to detect and track missile launches. But Golden Dome is a paradigm shift because it includes the deployment of space-based missile interceptors, potentially orbiting Earth somewhere between 300 kilometers and 500 kilometers in altitude, designed to counter ballistic missiles during the boost phase of their trajectories when they pass through space, opening the door to a new chapter in how the U.S. military uses space for space control. Space-based missile interceptors can perform both space control roles: the counterspace mission, stopping adversaries from using space for their own operations. and the counter-counterspace mission, to defeat counterspace weapons employed by an adversary, protecting and defending U.S. space assets. Space mobility and orbital global strike would also be two other entirely new military space missions, not just new capabilities. For years, U.S. Transportation Command, the Air Force Research Laboratory (AFRL), and the Defense Innovation Unit have been working on developments that would fit into a space mobility mission. Since 2022, AFRL has been budgeted to pursue the rocket cargo program, which aims to move goods and material from one point on Earth to another using suborbital rocket flights. Commercial reusable rockets, including Blue Origin’s New Shepard and SpaceX’s Falcon 9, testify to the feasibility of this concept. The ability to deliver cargo (or possibly in the future soldiers) anywhere in the world in less than 90 minutes, it would have value when speed is key. NASA’s OSIRIS-REx asteroid sample-return mission, SpaceX’s Dragon and Boeing’s Starliner capsules, and Varda’s return vehicle, among others, offer recent examples of existing capabilities that lay the groundwork for another variation of space mobility, one involving orbital flight and reentry through Earth’s atmosphere. Supplies in orbit for later delivery (i.e., warehousing in space), could reduce delivery times still further than what is possible using rocket cargo. Since March 2023, the Air Force has funded work at four companies to look at this concept, which has been called orbital cargo drop. ’A vehicle in orbit that is capable of surviving reentry could deliver weapons’. This was most recently tested by China in 2021, designed to deliver a warhead to its target using low Earth orbit. This is a type of system the U.S. military has not pursued. Orbital global strike, a space-to-Earth fires concept of a capability based on satellite constellation, with each satellite having some type of space-to-Earth weapon. Today, an intercontinental ballistic missile is on average the fastest way to deliver a munition to the other side of the globe, capable of reaching its target in about 30 minutes. For a weapon of an orbital global strike, the time to reach the target could be as fast as a projectile falling from orbit to the ground at Mach 10, a time measured in mere minutes. Weapons launched from satellites in orbit could include solid projectiles) or drones or air-breathing missiles that deploy from reentry vehicles. ’Orbital global strike could be used for strategic purposes, meaning to target an adversary’s war-making and other infrastructure, or tactical purposes in direct support to armed forces in combat’.’Creating an orbital global strike mission would be akin to the evolution of air power from mainly a tool of reconnaissance to one oriented around long-range bombardment’. The same technology that produced commercial satellite constellations hints at the possibility of ’an orbital global strike network consisting of a similar number of satellites’. (Source: Center for Strategic and International Studies - U.S.)
by Swope, the deputy director of the Aerospace Security Project and a senior fellow in the Defense and Security Department at the CSIS.
April 9, 2025 Might someone have stolen the gold reserves from Fort Knox, Kentucky, the fortress that holds the government’s gold bars? At least a dozen times since mid-February, President Trump and his billionaire adviser Musk keep fanning flames of Fort Knox gold conspiracy theory - rumor about America’s gold reserves - that the Fort Knox gold might be gone. In 2017, Trump’s treasury secretary at the time, Mnuchin, visited the Kentucky fortress and came away satisfied. Trump’s current treasury secretary, Bessent, told in February: “All the gold is present and accounted for.” No visit has materialized in the nearly two months since then, and it’s not clear why. ’The gold theft rumors have come in several varieties, all without evidence, among them that European bankers took the gold or that the Rockefeller banking family did’. The U.S. Mint says Fort Knox holds about 147.3 million ounces of gold currently, or about half the Treasury’s total gold reserves. That’s worth about $450 billion at the current market price. Formally known as the U.S. Bullion Depository, the gold reserve site is next to the Army base Fort Knox. It was built in 1936, and President Roosevelt was the only visitor until the tour for media and members of Congress in 1974. The gold reserve used to have a practical purpose: to allow foreign governments to swap their dollars for gold. But President Nixon ended the practice in 1971. Now, its value is mainly symbolic of U.S. wealth, and other countries, such as China, have recently sought to build up their own reserves. The Treasury Department’s nonpartisan inspector general audits the gold every year, said Thorson, a former inspector general who’s now retired. He said that he sent teams of about three people every year and that he went personally once in 2011. On Feb. 15, Zero Hedge posted a suggestion on X and tagged Musk directly. “It would be great if @elonmusk could take a look inside Fort Knox just to make sure the 4,580 tons of US gold is there. Last time anyone looked was 50 years ago in 1974,” the account posted. It had 3.3 million views as of Friday. “Surely it’s reviewed at least every year?” Musk responded to the post. X’s owner, Musk, has 218 million listed followers. Google Trends data shows that after the interaction, web searches for the term “Fort Knox” hit their highest level since Google began collecting data in 2004 and kept rising for several days. On Feb. 17, Musk posted on X about the gold: “Maybe it’s there, maybe it’s not.” He spoke about it on Rogan’s podcast and at the annual Conservative Political Action Conference, often mixing the conspiracy theory with attempts at humor. Musk reiterated his intention to inspect the goal as recently as March 30 at a town hall-style event in Wisconsin. “We’re actually going to Fort Knox to see if the gold is there, because maybe somebody stole the gold, tons of gold,” Trump said. ’There is no evidence that any gold is missing, and there’s no indication that Musk or Trump has taken any concrete steps toward visiting Fort Knox’. Questioning the gold as having been ‘lost’ or ‘stolen’ is part of a series of actions that undermine confidence in America, said Klein, who served in the Obama Treasury Department. Paul, the former congressman wants Trump and Musk to perform lab tests known as assays to determine the exact composition of the gold bars. The price of gold soared to record highs in recent days amid concerns about Trump’s trade wars before they fell again along with other asset prices since last week’s tariff announcement. And the longer the visit doesn’t happen, the more useful the rumors become for anyone who benefits from them. “If the intent is to undermine the financial system, you don’t actually want anyone to go there and look,” said Schafer, of the German Marshall Fund. (Source: NBC News - U.S.)
09 April, 2025 On 2 April, President Trump announced a global baseline 10% tariff on all imports into the US (effective from 5 April) and a range of additional ‘reciprocal’ tariffs on numerous countries and the EU (effective from 9 April). These reciprocal tariffs – which will be payable in addition to tariffs that the US currently levies – range from 10% (the minimum baseline) to 73%. According to the administration, these tariffs are calculated by reference to the size of that country’s trade deficit with the US. All countries will face steeper tariff rates, including China which was hit with a 34% tariff (but the total tariff rate on China has since risen to 125%), while the EU will face an additional 20% tariff on top of the tariffs the US already imposes on the EU. These reciprocal tariffs have been paused for 90-days for all countries, other than China. The 10% baseline tariff will continue to apply to most countries during the 90-day period. No additional tariffs were announced on Mexico and Canada. The ‘reciprocal’ tariffs apply to all products, but exclusions exist for certain medical items (including pharmaceuticals), as well as agricultural and technology items (including semiconductor chips) and certain raw materials. President Trump has indicated that the US will soon impose tariffs on semiconductor chips and pharmaceuticals. The ‘reciprocal’ tariffs also do not apply to automobiles and automobile parts, as well as steel and aluminium products, which remain subject to the specific tariff rates for these products. /Source: Freshfields LLP (formerly Freshfields Bruckhaus Deringer) - Headquarters London, United Kingdom/
4/9/2025 FBI Director Patel was removed as the Acting Director of the Bureau of Alcohol, Tobacco, Firearms and Explosives, an arm of the U.S. Justice Department, and replaced by U.S. Army Secretary Driscol, who will continue to serve as Army Secretary while he also oversees the ATF. Patel was sworn in as ATF's acting director in late February, just a few days after he was also sworn in as FBI Director. Senior Justice Department officials are weighing whether to merge the ATF with the U.S. Drug Enforcement Administration as part of an effort to cut costs. (Source: MSN - U.S. / Reuters - United Kingdom)
8 April 2025 The Trump administration is finding justifications to revoke student visas. Students at over 50 universities across the US reported that their student visas were canceled around April 4. They were impacted at several major institutions in California - UCLA, UC Berkeley, UC Santa Cruz, Stanford – and at Arizona State University, Harvard University, Columbia University, the University of Tennessee, among others. Some students report having their visa revoked over a speeding ticket. This recent wave of visa revocations has also renewed alarm about the State Department's "Catch and Revoke" program. The approach uses AI to scour the social media of visa holders, determining whether they show support for US-designated terrorist groups such as Hamas. Last month, FM Rubio said at a press conference that he had revoked the visas of over 300 international students, specifically for pro-Palestine protest activity. „Every time I find one of these lunatics, I take away their visa," Rubio said in Guyana on March 27. (Source: allAfrica - a website which operates from offices in Cape Town, Dakar, Abuja, Monrovia, Nairobi and Washington, D.C.)
April 8, 2025 The Trump administration plans to fine migrants under deportation orders up to $998 a day if they fail to leave the United States and to seize their property if they do not pay. The Trump administration plans to apply the penalties retroactively for up to five years. Trump turns to rarely used 1996 law that was enforced for the first time in 2018, to fine and potentially seize migrant assets. Immigrants in the U.S. illegally should use a mobile app formerly known as CBP One - rebranded as CBP Home under Trump - to "self deport and leave the country now." The White House has pressed U.S. Customs and Border Protection to handle the issue of penalties, property seizures for migrants who don't pay, and the sale of their assets. The Department of Justice’s civil asset forfeiture division could be another option for the seizures. The planned fines target the roughly 1.4 million migrants who have been ordered removed by an immigration judge. The immigration advocacy group FWD.us estimates that some 10 million migrants with no legal status or temporary protections are living with U.S. citizens or permanent residents in what are known as 'mixed status households.' (Source: Reuters - United Kingdom)
Apr 08, 2025 In Silicon Valley, tech giants rely heavily on H1B visas to employ thousands of workers and immigrant tech community is confronting growing challenges. Amazon tops the list of big tech companies in terms of H1B approvals, followed by Google, Meta, Microsoft, and Apple. Tesla, under CEO Musk’s leadership, approved 1,767 H1B visas in the fiscal year ending September 2024. Each year, around 65,000 H1B visas are granted through a lottery system, with India leading the list of recipients, followed by China and Canada. The debate over H1B visas has brought to light a growing division within Trump’s coalition, with tech leaders pushing for more immigrant talent while others advocate for stricter immigration measures. Experts warn that limiting visas for immigrant tech workers could undermine the industry's ability to compete with China. Amidst the Trump administration’s stricter immigration policies, leading tech companies such as Amazon, Google, Apple, and Microsoft are advising their H-1B and green card visa holders to refrain from international travel. (Source: Hindustan Times - India)
(Tuesday), 08 April, 2025 Israeli Prime Minister Benjamin Netanyahu made his second visit to Washington in the first 10 weeks of Trump's second term. On the agenda was Netanyahu's determination to reverse Trump's newly imposed tariffs, and discussions on Iran's nuclear ambitions, Gaza, and Syria. Trump said that he would be meeting with the Iranians on Saturday and dealing with them directly, possibly a major step following years of cautious indirect talks. "Maybe a deal is going to be made. That would be great," Trump told reporters. "Don't forget, we help Israel a lot. You know, we give Israel $4 billion a year. That's a lot," Trump said. Trump repeatedly said that Israel should have never "given up" Gaza in its land-for-peace deal. He suggested a post-war plan of beachside resorts administered by the US. He then invited Netanyahu to answer a reporter's question about an "immigration plan" to relocate Palestinians from Gaza. His answer seemed to differ from Trump's plan for beachfront development, suggesting that Palestinians in Gaza would return after a period of post-war reconstruction. (Source: The New Arab - based in London, United Kingdom, owned ba a Qatari company)
Apr 07, 2025 The Trump administration has placed the staff of the Office of the Citizenship and Immigration Services (CIS) Ombudsman on a 60-day administrative leave. The office, which was known for its independence from the US Citizenship and Immigration Services (USCIS), assisted around 30,000 people annually. The March 21 move by the Department of Homeland Security (DHS) could be a step toward dismantling the independent immigration oversight body. The move also affected the Office for Civil Rights and Civil Liberties - which is required to exist by law - and the Office of the Immigration Detention Ombudsman. The removal of the neutral watchdog could lead to unchecked administrative power over immigration matters. (Source: Hindustan Times - India)
Saturday 05 April 2025 The U.S. Agency for Global Media ended RFE/RL satellite contracts on Thursday, possibly impeding the broadcasting of Russian-language programs. Around 40 stations in Europe that broadcast RFE’s live Russian programs use satellites. 'RFE/RL reports in almost 30 languages and reaches about 47 million people weekly in 23 countries, such as Russia, Hungary, and Afghanistan.' (Source: Independent - United Kingdom)
Fri, Apr 4 2025 President Trump says Fed Chair Powell should cut interest rates and ‘stop playing politics’. (Source: CNBC - U.S.)
4 April 2025 The Trump administration has fired General Haugh, the head of both the National Security Agency and US Cyber Command, after a meeting between President Trump and ’far-right’ activist Loomer yesterday. She posted on X that Gen Haugh and his deputy, Noble, 'have been disloyal to President Trump. That is why they have been fired." At least three other officials at the White House National Security Council (NSC) were fired: Walsh, a director for intelligence; Boodry, a senior director for legislative affairs; and Feith, a senior director overseeing technology and national security. (Source: BBC - United Kingdom)
Apr 04, 2025 Yesterday the US President levied a 26% tariff on India, 34% on China, 46% on Vietnam, and 10% on the UK. The EU has been slapped with a 20% tariff, while 49% has been levied on Cambodia. Imports from South Korea will attract 25% tariffs. (Source: Hindustan Times - India)
NATO
03.04.2025 At a meeting of NATO foreign ministers in Brussels, US underlined 'NATO members should spend up to 5% of GDP on defense'. 'Ground war in the heart of Europe is a reminder that hard power is still necessary as deterrent,' said Secretary of State Rubio. (Source: Anadolu Agency - Turkey)
United Nations
05 April 2025 New thinking is needed on disarmament. The Artificial Intelligence (AI) race needs to slow down and IT firms should instead be focusing on the bigger picture to ensure that the technology is not misused on the battlefield, UN disarmament experts and leaders of ‘big tech’ companies have insisted, speaking at the recent Global Conference on AI Security and Ethics hosted by UNIDIR in Geneva. AI has already created a security dilemma for governments and militaries around the world. The dual-use nature of AI technologies – where they can be used in civilian and military settings alike – means that developers could lose touch with the realities of battlefield conditions, where their programming could cost lives, warned Valli, Head of Public Affairs at Comand AI. The tools are still in their infancy but have long fuelled fears that they could be used to make life-or-death decisions in a war setting, removing the need for human decision-making and responsibility. Hence the growing calls for regulation, to ensure that mistakes are avoided that could lead to disastrous consequences. “We see these systems fail all the time,” said Sully, CEO of the London-based company Advai, adding that the technologies remain “very unrobust”. “So, making them go wrong is not as difficult as people sometimes think,” he noted. (Source: The United Nations Office at Geneva)
Global
09 April, 2025 China, Canada, and the EU have responded to the tariffs which President Trump has imposed by commencing dispute settlement proceedings before the World Trade Organization (WTO). For other WTO members, the WTO remains an important part of the international architecture for free trade. The US’s commitment to WTO rules and the WTO as an institution is not what it once was. The US has even stopped paying into the WTO budget. The future? After 60 days of WTO consultations, complainant countries can request a WTO panel. These dates fall on 6 April – for China in respect of the 20% tariff on Chinese goods; 3 May – for Canada in respect of the 25% tariffs on Canadian goods (and 10% on Canadian energy goods and potash); 12 May – for Canada in respect of the 25% tariffs on steel and aluminium products; 3 June – for Canada in respect of the 25% tariffs on automobiles and automobile parts; 4 June – for China in respect of the ‘reciprocal’ tariffs on Chinese goods. "It is to be expected that the US will avoid a negative WTO panel ruling being formally adopted, which it can do by ‘appealing into the void’. This is now possible because there are currently no Appellate Body members, due to the US having blocked all appointments since 2019. However, some WTO Members, including the EU, have adopted legislation permitting them to retaliate against unsuccessful respondent WTO members in such circumstances. It would further be expected that the EU, at least, would retaliate against the US should it be successful in any WTO proceedings. This is not however necessarily the case for other WTO members, including China and Canada". /Source: Freshfields LLP (formerly Freshfields Bruckhaus Deringer) - Headquarters London, United Kingdom/
April 9, 2025 10:10 AM CET U.S. President Trump said overnight that global leaders are willing to do anything to make a trade deal with him as American tariffs come into force. “They are dying to make a deal. 'Please, please sir, make a deal. I’ll do anything sir,' he imitated a begging foreign leader during a speech at the National Republican Congressional Committee Dinner in Washington. Tariffs announced by Trump on April 2 which took effect today morning include massive 104 percent duties on Chinese goods, while dozens of other nations, plus the European Union, will face tariffs ranging from 11 percent to 50 percent. Asian stocks collapsed today morning as the new tariffs kicked in with key markets already open. In Japan, the Nikkei index dropped over 5 percent, while the broader TOPIX index fell by 4.6 percent. Hong Kong's Hang Seng index lost 4.3 percent and Taiwan's market plunged more than 5.7 percent. Speaking at the event yesterday night, Trump also announced plans for additional tariffs on pharmaceutical imports. We’re going to tariff our pharmaceuticals and once we do that they’re going to come rushing back into our country because we’re the big market, he said. (Source: Politico - U.S.)
April 8, 2025 11:59 PM GMT+2 The United States said today that 104% duties on imports from China will take effect shortly after midnight in response to countertariffs Beijing announced last week. China has vowed to fight to the end. U.S. stocks dropped today for a fourth straight trading day since Trump's tariffs announcement last week. S&P 500 companies have lost $5.8 trillion in stock market value since Trump's tariff announcement last Wednesday, the deepest four-day loss since the benchmark was created in the 1950s. "We've had talks with many, many countries, over 70, they all want to come in. Our problem is, can't see that many that fast," Trump said at a White House event, where he signed executive orders aimed at boosting coal production. "Right now, we've received the instruction to prioritize our allies and our trading partners like Japan and Korea and others," White House economic adviser Hassett said. Trump's tailor-made approach to negotiations with individual countries could take into account foreign and military aid as well as economic factors, White House spokeswoman Leavitt said. Trump's lead trade negotiator, Greer, told Congress that his office is trying to work quickly but is not facing a particular deadline. Global oil prices steadied after falling to four-year lows. European pharma companies, fearful of the tariff fallout, warned the president of the European Commission, der Leyen, in a meeting that Trump's tariffs would expedite the industry's shift away from Europe and toward the United States. (Source: Reuters - United Kingdom)
07/04/2025 - 09:09 US President Trump refused to back down on sweeping tariffs. China retaliated. Many fear the escalating trade war could spark a global recession. Stock markets: Asia: China hammered the United States with its own hefty tariffs, ramping up a trade war that many fear could spark a recession. Equities collapsed. Wave of selling as investors fled to the hills. Hong Kong's loss of 12 percent its worst in more than 16 years; Taipei tanked more than nine percent; Tokyo more than seven percent. Europe: European shares plunge to 16-month low. Frankfurt slumping as much as 10 percent; Paris diving more than six percent; London sliding nearly six percent; Amsterdam and Oslo: losses of more than five percent; Milan down over three percent. (Source: France 24)
.
