Pledge #9161

„How Trump changed his mind on tariffs rn rn+2 rnPeter Nicholas, Garrett Haake and Carol E. Lee rnReporting from Washington rnmgmarket4 at rn“Liberation Day” gave way to Capitulation Day last night. rn rnPresident Donald Trump pulled back yesterday on a series of harsh tariffs targeting friends and foes alike in an audacious bid to remake the global economic order. rn rnImage: President Donald Trump rnSaul Loeb / AFP - Getty Images rnTrump’s early afternoon announcement followed a harrowing week in which Republican lawmakers and confidants privately warned him that the tariffs could wreck the economy. His own aides had quietly raised alarms about the financial markets before he suspended a tariff regime that he had unveiled with a flourish just one week earlier in a Rose Garden ceremony. rnmgmarket4 at rnThe stock market rose immediately after the about-face, ending days of losses that have forced older Americans who’ve been sinking their savings into 401(k)s to rethink their retirement plans. rn rnRead the full story here. rn rn32m ago / 12:55 PM GMT+3 rnSharesocial share icon trigger rnChina's foreign ministry calls the U.S. a '21st century barbarian' rn rnPeter Guo rn rnReporting from Hong Kong rn rnChina's public language on its trade war with the U.S. has become increasingly bellicose and took a new turn today when Beijing's foreign ministry said the Trump administration's tariffs have made the U.S. a “barbarian of the 21st century.” rn rnTrump’s tariffs will “never America great again” ministry of foreign affairs spokesperson Huang Jingrui, wrote in an open letter today in Hong Kong’s newspaper South China Morning Post. rnmg11.at rn“A tariff-wielding barbarian who attempts to force countries to call and beg for mercy can never expect that call from China,” Huang said, adding that the U.S. is “obsessed with the art of bullying and blackmailing the entire world.” rn rn47m ago / 12:40 PM GMT+3 rnSharesocial share icon trigger rnEU welcomes 90-day tariff pause rn rnPeter Guo rn rnThe EU President Ursula von der Leyen said today that the region welcomes Trump’s announcement to pause tariffs for 90 days. rn rnVon der Leyen said the EU remains “committed to constructive negotiations” with the U.S., according to a statement from her office. rn rnMeanwhile, Europe continues to focus on diversifying their trade partnerships, engaging with countries that account for 87% of global trade, she said. rn rnTrump’s tariffs have shown that the European internal market is the region’s “anchor of stability and resilience” in times of uncertainty, von der Leyen added. rn rn1h ago / 12:27 PM GMT+3 rnSharesocial share icon trigger rnTrade war with China 'to spark a wave of smuggling' rn rnPeter Guo rn rnReporting from Hong Kong rnmg3ga.at rnIrregular trade including smuggling will most likely rise amid the U.S.' and China's tit-for-tat tariffs, an economist warns. rn rnThe cost of tariffs has become “prohibitive to almost every company,” Tianchen Xu, senior economist at Economist Intelligence Unit. rn rn“As a result, trade flows in both directions will tumble, and irregular trade will proliferate, including smuggling, transshipment and systemic under-reporting of trade value during customs clearance,” Xu said in a note. rn rnXu said trade negotiations and a partial de-escalation in the ongoing trade war may ensue in the coming months, but those tensions are likely to worsen in the short term between the world’s two largest economies. rn rn1h ago / 12:09 PM GMT+3 rnSharesocial share icon trigger rnCalifornia plant business owner says costs will double with tariffs rn rnGadi Schwartz and Phil Helsel rnThe owner of a California home decor and plant shop said that even in dealing locally, the sourcing of goods from China is impossible to avoid. rnmgmarket4 at rn rnhttps://mgmarket15.ru“