The week of turbulence unleashed by Donald Trump's tariffs is showing little sign of easing: China raised duties on US goods to 125%, global stocks fell and foreign leaders are still grappling with how to respond to a dismantling of the world trade order. Today we also bring you our take on the week ahead and we look back at some of our top photos from the past seven days. |
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China and the EU must oppose tariff 'bullying', Xi told the Spanish PM. Andres Martinez Casares/Pool via REUTERS |
- Beijing increased its tariffs on US imports to 125%, hitting back against President Donald Trump's decision to hike duties on Chinese goods to 145% and raising the stakes in a trade war that threatens to upend global supply chains. Follow the latest.
- In hope of avoiding punishing tariffs, Vietnam is prepared to crack down on Chinese goods being shipped to the US via its territory and tighten controls on sensitive exports to China, according to a person familiar with the matter and a document seen by Reuters.
- President Xi Jinping told Spain's prime minister earlier today that China and the EU must join together in defending globalization and opposing "acts of bullying", in a clear swipe at Trump's policies.
- With higher tariffs postponed by 90 days, European Union finance ministers will brainstorm today how to use that time to reach a trade deal with Washington and how to coordinate their efforts to handle higher levies if they are unsuccessful.
- As the fallout over the tariffs continues to wobble markets, what is the political fallout for Trump? Correspondent Jim Oliphant discusses on the Reuters World News podcast how contradictory messages from the White House are impacting credibility.
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- Prada struck a $1.38 billion deal to buy Versace, in a move that unites two of the biggest names in Italian fashion and offers the prospect of enhanced revenues. The deal revives hopes for a 'Made in Italy' luxury champion after many other family-founded brands ended up in French, Swiss or US hands.
- Online fast-fashion retailer Shein has secured approval from Britain's Financial Conduct Authority for its planned initial public offering in London, two sources familiar with the matter said.
- Britain's economy returned to growth with a strong expansion of 0.5% in February, official data showed, beating economists' expectations and showing it was on a slightly firmer footing as it braces for the impact of tariffs.
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Indigenous groups rally in Brasilia to demand land rights. REUTERS/Adriano Machado |
- Thousands of Indigenous people from across Brazil are rallying in the nation's capital this week to demand protection for their land rights, fighting legislation that could make it impossible for some tribes to reclaim territory they were forced to leave.
- A tourist helicopter plummeted upside down into New York City's Hudson River killing all six people on board, including a Spanish family with three children and the pilot. Agustin Escobar, CEO of Rail Infrastructure at Siemens Mobility, was among those killed, a company spokesperson told Reuters.
- Istanbul Mayor Ekrem Imamoglu, a leading rival of Turkey's President Tayyip Erdogan, will appear before a court today for the first time since his high-profile arrest last month, over earlier accusations of insulting a prosecutor.
- Former South Korean President Yoon Suk Yeol returned to his private home from the official residence after his removal from office, with supporters turning out to greet his motorcade.
- Five senior members of Hong Kong's Democratic Party, the city's biggest and last remaining major opposition party, say Chinese officials or middlemen have warned the party to disband or face serious consequences, including possible arrests.
- A sophisticated network of fake social media accounts sprang to the impassioned defense of former Philippine President Rodrigo Duterte after he was sent to the ICC to face charges over his bloody drug war, according to research shared with Reuters.
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- The United States and Iran are poised to begin direct talks on Tehran's nuclear program on Saturday. Abbas Araqchi, Iran's seasoned top diplomat, faces one of his most delicate challenges ever as he prepares to lead negotiations to secure a new nuclear deal and avert a military strike against the Islamic Republic.
- Pop star Katy Perry and journalists Gayle King and Lauren Sanchez, who is also billionaire Jeff Bezos' fiancée, are set to blast off into space on a Blue Origin rocket on Monday, marking the first all-female flight crew to space in more than six decades.
- The US Federal Trade Commission's lawsuit over Meta's acquisition of Instagram and WhatsApp is scheduled for trial in Washington from Monday.
- The latest test of whether economic and tariff uncertainty is weighing on US consumer behavior comes on Wednesday with the release of the monthly US retail sales data.
- Thursday is a big day for central banks. The ECB is expected to cut interest rates. Turkey is likely to hold its benchmark rate, while questions are rising on how much room Egypt's policymakers have left to cut rates. South Korea may be forced to bring forward or deepen rate cuts this year faced with the risk of recession.
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Exclusive: From Daikin to Samsung, companies fight Modi over e-waste policy |
A man recycles electronic waste at a scrap yard in Ahmedabad, India. REUTERS/Amit Dave |
India wants to tackle its mounting e-waste problem. Global companies say the cost is too high. Daikin, Hitachi and Samsung are among manufacturers alarmed by new Indian government rules that require them to pay significantly more to recycle electronics, court papers and lobbying letters show. |
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People take pictures on Cherry Blossom Avenue in Bonn, Germany. REUTERS/Jana Rodenbusch |
From a launchpad at a cosmodrome in Kazakhstan to pink cherry blossom trees in Germany, we bring you some of our top photography from around the world this week. |
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