WASHINGTON: US President Donald Trump was poised to impose sweeping new reciprocal tariffs on global trading partners on Wednesday, upending decades of rules-based trade, threatening cost increases and likely drawing retaliation from all sides.
Details of Trump’s “Liberation Day” tariff plans were still being formulated and closely held ahead of a White House Rose Garden announcement ceremony scheduled for 4 p.m. Eastern Time (2000 GMT).
The new duties are due to take effect immediately after Trump announces them, White House spokesperson Karoline Leavitt said on Tuesday, while a separate 25 percent global tariff on auto imports will take effect on April 3.
Trump for weeks has said his reciprocal tariff plans are a move to equalize generally lower US tariff rates with those charged by other countries and counteract their non-tariff barriers that disadvantage US exports. But the format of the duties was unclear amid reports that Trump was considering a 20 percent universal tariff.
A former Trump first-term trade official told Reuters that Trump was more likely to impose comprehensive tariff rates on individual countries at somewhat lower levels.
The former official added that the number of countries facing these duties would likely exceed the approximately 15 countries that Treasury Secretary Scott Bessent had previously said the administration was focused on due to their high trade surpluses with the US
Bessent told Republican House of Representatives lawmakers on Tuesday that the reciprocal tariffs represent a “cap” of the highest US tariff level that countries will face and could go down if they meet the administration’s demands, according to Republican Representative Kevin Hern.
Ryan Majerus, a former Commerce Department official, said that a universal tariff would be easier to implement given a constrained timeline and may generate more revenue, but individual reciprocal tariffs would be more tailored to countries’ unfair trade practices.
“Either way, the impacts of today’s announcement will be significant across a wide range of industries,” said Majerus, a partner at the King and Spalding law firm.
Stacking tariffs
In just over 10 weeks since taking office, the Republican president has already imposed new 20 percent duties on all imports from China over fentanyl and fully restored 25 percent duties on steel and aluminum, extending these to nearly $150 billion worth of downstream products. A month-long reprieve for most Canadian and Mexican goods from his 25 percent fentanyl-related tariffs also are due to expire on Wednesday.
Administration officials have said that all of Trump’s tariffs, including prior rates, are stacking, so a Mexican-built car previously charged 2.5 percent to enter the US would be subject to both the fentanyl tariffs and the autos sectoral tariffs, for a 52.5 percent tariff rate – plus any reciprocal tariff Trump may impose on Mexican goods.
Growing uncertainty over the duties is eroding investor, consumer and business confidence in ways that could slow activity and drive up prices.
Economists at the Federal Reserve Bank of Atlanta said a recent survey showed corporate financial chiefs expected tariffs to push their prices higher this year while cutting into hiring and growth.
Rattled investors have sold stocks aggressively for more than a month, wiping nearly $5 trillion off the value of US stocks since mid-February. Wall Street ended mixed on Tuesday with investors stuck in limbo awaiting details of Trump’s announcement on Wednesday.
Retaliatory measures
Trading partners from the European Union to Canada and Mexico have vowed to respond with retaliatory tariffs and other countermeasures, even as some have sought to negotiate with the White House.
Canadian Prime Minister Mark Carney and Mexican President Claudia Sheinbaum spoke on Tuesday about Canada’s plan to “fight unjustified trade actions” by the US, Carney’s office said.
“With challenging times ahead, Prime Minister Carney and President Sheinbaum emphasized the importance of safeguarding North American competitiveness while respecting the sovereignty of each nation,” Carney’s office said in a statement.
US companies say a “Buy Canadian” movement is already making it harder for their products to reach that country’s shelves.
Trump has argued that American workers and manufacturers have been hurt for decades by free-trade deals that have lowered barriers to global commerce and fueled the growth of a $3 trillion US market for imported goods.
The explosion of imports has come with what Trump sees as a glaring downside: Massively imbalanced trade between the US and the world, with a goods trade deficit that exceeds $1.2 trillion.
Economists warn his remedy – hefty tariffs – would raise prices at home and abroad and hammer the global economy. A 20 percent tariff on top of those already imposed would cost the average US household at least $3,400, according to the Yale University Budget Lab.
Trump to escalate global trade tensions with new reciprocal tariffs on US trading partners
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Trump to escalate global trade tensions with new reciprocal tariffs on US trading partners
- Details of Trump’s ‘Liberation Day’ tariff plans still being formulated and closely held ahead of an announcement ceremony
- The new duties are due to take effect immediately after Trump announces them, White House spokesperson Karoline Leavitt said
LA stars speak out against Trump’s increasingly ruthless migrant crackdown
- Celebrities hit disconnect between Trump’s claims about arresting dangerous criminals and raids that appear to be targeting day laborers and factory workers
- “There are ruthless attacks that are creating fear and chaos in our communities in the name of law and order," says singer Doechii
LOS ANGELES: As President Donald Trump’s military-backed crackdown on immigrants continues in Los Angeles and across the US, celebrities are speaking out against the tactics and what they say are the intolerant views driving them.
Some pointed to the gulf between Trump’s apocalyptic descriptions of a city in flames and the reality of a vast and diverse metropolis where largely peaceful protests are limited to a small part of downtown.
Here’s what the glitterati had to say:
Many celebrities touched on the disconnect between Trump’s claims about arresting dangerous criminals and raids that appear to be targeting day laborers and factory workers.
“When we’re told that ICE (Immigration and Customs Enforcement) exists to keep our country safe and remove violent criminals — great,” LA native and reality star Kim Kardashian wrote on social media.
“But when we witness innocent, hardworking people being ripped from their families in inhumane ways, we have to speak up.”
The billionaire behind Skims underwear added: “Growing up in LA, I’ve seen how deeply immigrants are woven into the fabric of this city. They are our neighbors, friends, classmates, coworkers and family.
“No matter where you fall politically, it’s clear that our communities thrive because of the contributions of immigrants.”
Singer Doechii echoed that sentiment in her acceptance speech for best female hip hop artist at the BET Awards on Sunday.
“There are ruthless attacks that are creating fear and chaos in our communities in the name of law and order. Trump is using military forces to stop a protest,” the “Anxiety” singer said. “We all deserve to live in hope and not fear”
Late night talk show host Jimmy Kimmel gave a blistering 12-minute monologue from his studio in the heart of Hollywood, opening with footage of tourists enjoying the nearby attractions and a movie premiere.
“Not only is it not an apocalypse, they’re having a Disney/Pixar movie premiere right now for ‘Elio’, a movie about aliens — don’t tell Trump, he’ll send the Green Berets in, too,” the comedian said.
There is something wrong, he said, with innocent people “being abducted — which is the correct word to use — by agents in masks, hiding their identities, grabbing people off the streets.”
Grammy- and Oscar-winning musician and producer Finneas, famous for collaborations with sister Billie Eilish and for work on the “Barbie” movie soundtrack, reported being caught up in a heavy-handed police response at a protest.
“Tear-gassed almost immediately at the very peaceful protest downtown — they’re inciting this,” the LA native wrote on Instagram.
“Desperate Housewives” star Eva Longoria, called the raids “un-American.”
“It’s just so inhumane, hard to watch, it’s hard, it’s hard to witness from afar, I can’t imagine what it’s like to be in Los Angeles right now,” she wrote on Instagram.
Longoria added that the protests were a result of “the lack of due process for law-abiding, tax-paying immigrants who have been a part of our community for a very long time.”
Trump is receptive to contacts with North Korean leader, White House says
- Trump open to communication with North Korea’s Kim Jong Un
- North Korea rejecting Trump letter, according to a report
WASHINGTON: President Donald Trump would welcome communications with North Korean leader Kim Jong Un after having had friendly relations with Kim during his first term, the White House said on Wednesday.
“The president remains receptive to correspondence with Kim Jong Un,” White House Press Secretary Karoline Leavitt told reporters.
She was responding to a report by Seoul-based NK News, a website that monitors North Korea, that the North’s delegation at the United Nations in New York had repeatedly refused to accept a letter from Trump to Kim.
Trump and Kim held three summits during Trump’s 2017-2021 first term and exchanged a number of what Trump called “beautiful” letters. In June 2019, Trump briefly stepped into North Korea from the demilitarized zone with South Korea.
Little progress was made, however, at reining in North Korea’s nuclear program, and Trump acknowledged in March that Pyongyang is a “nuclear power.”
Since Trump’s first-term summitry with Kim ended, North Korea has shown no interest in returning to talks.
The attempts at rapprochement come after the election in South Korea of a new president, Lee Jae-myung, who has pledged to reopen dialogue with North Korea.
As a gesture of engagement on Wednesday Lee suspended South Korean loudspeakers blasting music and messages into the North at the Demilitarized Zone along their shared border.
Analysts say, however, that engaging North Korea will likely be more difficult for both Lee and Trump than it was in the US president’s first term.
Since then North Korea has significantly expanded its nuclear weapons and ballistic missile programs, and developed close ties with Russia through direct support for Moscow’s war in Ukraine, to which Pyongyang has provided both troops and weaponry.
Kim said in a message to Russian President Vladimir Putin that his country will always stand with Moscow, state media reported on Thursday.
Russia hits Ukraine’s Kharkiv with deadly nighttime barrage of drones
- Zelensky: Attack shows Russia is not facing enough pressure
- Two southern regions without electricity after attacks
KHARKIV, Ukraine: A concentrated, nine-minute-long Russian drone attack on Ukraine’s second-largest city of Kharkiv on Wednesday killed six people and injured 64, including nine children, Ukrainian officials said.
The attack followed Russia’s two biggest air assaults of the war on Ukraine this week, part of intensified bombardments that Moscow says are retaliatory measures for Kyiv’s recent attacks in Russia.
A new wave of drone attacks on four city districts was reported early on Thursday by Kharkiv Mayor Ihor Terekhov, including a drone that landed in a school courtyard and smashed windows. There were no other reports of casualties or damage.
Elsewhere, two southern Ukrainian regions, Mykolaiv and Kherson, were left without electricity on Wednesday after Russian forces attacked an energy facility, the governors said.
Kharkiv, in Ukraine’s northeast, withstood Russia’s full-scale advance in the early days of the war but has since been a regular target of drone, missile and guided aerial bomb assaults.
Prosecutors in Kharkiv region said on the Telegram messaging app that the death toll in Tuesday night’s incidents had risen to six as rescue teams pulled bodies from under the rubble. They said three people were still believed to be trapped.
The strikes by 17 drones on Kharkiv sparked fires in 15 units of a five-story apartment block and caused other damage in the city close to the Russian border, Mayor Terekhov said.
“There are direct hits on multi-story buildings, private homes, playgrounds, enterprises and public transport,” Terekhov said on the Telegram messaging app.
“Every new day now brings new despicable blows from Russia, and almost every blow is telling. Russia deserves increased pressure; with literally every blow it strikes against ordinary life, it proves that the pressure is not enough,” President Volodymyr Zelensky said on Telegram.
A Reuters witness saw emergency rescuers helping to carry people out of damaged buildings and administering care, while firefighters battled blazes in the dark.
Nine of the injured, including a 2-year-old girl and a 15-year-old boy, have been hospitalized, Oleh Sinehubov, the governor of the broader Kharkiv region, said on Telegram.
In total, the Ukrainian military said Russia had launched 85 drones overnight, 40 of which were shot down.
Blackouts
In the southern Kherson region, workers were trying to restore electricity supplies after Russian forces attacked what its governor, Oleksandr Prokudin, said was “an important energy facility.”
“It is currently impossible to predict the duration of the work. Residents of the region, I ask you to show understanding and prepare for a prolonged power outage,” he said on the Telegram messenger.
The governor of the neighboring Mykolaiv region, Vitaliy Kim, said his region was also experiencing emergency shutdowns but that power would soon be restored.
Kherson region directly borders a war zone and is under daily drone, missile and artillery attack. The Mykolaiv region faces mainly missile and drone attacks.
There was no immediate comment from Russia on the latest overnight attacks.
Both sides deny targeting civilians in the war that Russia launched on its smaller neighbor in February 2022. But thousands of civilians have died in the conflict, the vast majority of them Ukrainian.
Mali’s government adopts bill granting junta leader 5 more years in power
- The bill now awaits ratification by the National Transitional Council, the legislative body overseeing the transition
BAMAKO, Mali: Mali’s Council of Ministers on Wednesday adopted a controversial bill granting the head of the military junta an additional five years in power.
Gen. Assimi Goita has led the West African nation since orchestrating two coups in 2020 and 2021. The move follows the military regime’s dissolution of political parties in May.
According to the government’s cabinet statement, the bill will lead to the “revision of the Transition Charter, granting the Head of State a five-year renewable mandate starting in 2025.” It implements the recommendations of the national dialogue consultations organized by the military regime in April, which the political parties boycotted.
The bill now awaits ratification by the National Transitional Council, the legislative body overseeing the transition.
Earlier in May, Gen. Goita signed a decree dissolving political parties, a decision made against a backdrop of burgeoning opposition. It coincided with a surge in kidnappings of pro-democracy activists in the capital, Bamako, and just days after a demonstration by several hundred activists.
Mali, a landlocked nation in the semiarid region of Sahel, has been embroiled in political instability that swept across West and Central Africa over the last decade.
The nation has seen two military coups since 2020 as an insurgency by jihadi groups linked to Al-Qaeda and the Daesh group worsened. The junta had promised a return to civilian rule by March 2024, but later postponed elections. No date has been set yet for the presidential election.
At least 49 people have died in flooding in South Africa with toll expected to rise, officials say
- The death toll included six high school students who were washed away when their school bus was caught in floodwaters
JOHANNESBURG: At least 49 people were confirmed dead Wednesday as floods devastated one of South Africa’s poorest provinces, and officials said the toll was expected to rise as more bodies are recovered in the search for missing people.
The floods hit the largely rural Eastern Cape province in the southeast of the country early Tuesday after an especially strong weather front brought heavy rains, gale force winds and also snow in some parts.
“As we speak here, other bodies are being discovered,” Eastern Cape Premier Oscar Mabuyane told reporters at a briefing, adding that it was one of the worst weather-related disasters his province had experienced. “I have never seen something like this,” he said.
The death toll included six high school students who were washed away when their school bus was caught in floodwaters on Tuesday near a river close to the town of Mthatha, which was especially hard hit and at the center of the worst flooding. Four other students were among the missing, Mabuyane said.
Authorities found the school bus earlier Wednesday, but it was empty. Three of the students were rescued on Tuesday when they were found clinging to trees and crying out for help, the provincial government said.
A driver and another adult who were on the bus with the schoolchildren were among the dead.
Search and rescue operations would continue for a third day on Thursday, authorities said, though they didn’t give details on how many people might still be missing. They said they were working with families to find out who was still unaccounted for.
Disaster response teams have been activated in Eastern Cape province and the neighboring KwaZulu-Natal province after the torrential rain and snow hit parts of southern and eastern South Africa over the weekend. Mabuyane said there had also been reports of mudslides.
South African President Cyril Ramaphosa said the National Disaster Management Center was also working with local authorities in the Eastern Cape, the province that took the brunt of the extreme cold front that weather forecasters had warned was on its way last week. There were unusually large snowfalls in parts of Eastern Cape, KwaZulu-Natal and the Free State province in South Africa’s interior.
Ramaphosa offered his condolences to the affected families in the Eastern Cape in a statement from his office and described the situation as “devastation.”
Power outages have affected hundreds of thousands of homes in the Eastern Cape and KwaZulu-Natal.
Eastern Cape provincial government officials said hundreds of families were left homeless and in temporary shelters in that province after their houses were washed away or broken apart, while at least 58 schools and 20 hospitals were damaged by the floods, which mostly affected Mthatha and the surrounding district.
Other houses were left submerged under water. Cars and debris that were carried away by the floods were left strewn in piles as the rain stopped and the water began to subside.
South Africa is vulnerable to strong weather fronts that blow in from the Indian and Southern Oceans. In 2022, more than 400 people died in flooding caused by prolonged heavy rains in the east coast city of Durban and surrounding areas.
Poor areas with informal housing are often the worst affected and where the majority of fatalities occur.
