Trump dismisses stock market’s tariff plunge, says ‘China played it wrong’ by hitting back

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Wall Street stocks sank in early trading on April 3, 2025, joining a global equity selloff after President Donald Trump's latest tariff announcement exacerbated worries about a trade war and global economic downturn. (AFP)
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Updated 05 April 2025
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Trump dismisses stock market’s tariff plunge, says ‘China played it wrong’ by hitting back

  • Says critics got it all wrong, even as the Fed warned that the tariffs could lead to “higher inflation and lower growth”
  • “This is a great time to get rich,” he wrote on social media, adding, “ONLY THE WEAK WILL FAIL!”

WASHINGTON: President Donald Trump goaded China on Friday after the US’s chief economic rival retaliated against his tariffs, and he dismissed falling stock markets over the growing global trade war, touting it as a chance to “get rich.”
“China played it wrong, they panicked — the one thing they cannot afford to do!” Trump posted on Truth Social, writing the message in his trademark all-caps.
For a second day, markets plunged, wiping vast sums off investment and retirement portfolios alike. US Federal Reserve Chairman Jerome Powell warned the tariffs were likely to spur “higher inflation and lower growth.”

 

Wall Street went into free fall, following similar collapses in Asia and Europe. The Dow Jones dropped 5.5 percent and the S&P 5.97 percent.
Trump, who unveiled his barrage of import duties against dozens of countries Wednesday, was unrepentant, posting that “my policies will never change.”
“This is a great time to get rich,” he wrote.
The 78-year-old Republican, who was spending a long weekend golfing at his course in Palm Beach, Florida, is banking on the theory that the might of the world’s biggest economy will force foreign companies to manufacture on US soil, rather than continue to import goods.
“ONLY THE WEAK WILL FAIL!” Trump touted in yet another Truth Social post Friday.

China, however, responded by announcing its own new 34 percent tariffs on US imports starting April 10.
Beijing said it would sue the United States at the World Trade Organization and also restrict export of rare earth elements used in high-end medical and electronics technology.
Other big US trading partners held back as they digested the unfolding international standoff and fears of a recession.
EU trade chief Maros Sefcovic said the EU, which Trump hit with a 20 percent tariff, will act in “a calm, carefully phased, unified way” and allow time for talks.
However, he also warned the bloc “won’t stand idly by.”

EU leaders mull retaliation
France and Germany have said the 27-nation EU could respond by imposing a tax on US tech companies.
Economy Minister Eric Lombard urged French companies to show “patriotism” after President Emmanuel Macron argued it would send the wrong message if they pressed ahead with investments in the United States.
Lombard said the EU’s retaliation would not necessarily involve tit-for-tat tariffs and could use other tools, pointing to data exchange and taxes instead.

In Tokyo, Prime Minister Shigeru Ishiba called for a “calm-headed” approach after Trump slapped 24 percent tariffs on Japanese-made goods.
Trump said he’d had a “very productive” call with Vietnam’s top leader after the southeast Asian manufacturing hub was hit with extraordinary 46 percent US duties.
Separate US tariffs of 25 percent on all foreign-made cars went into effect this week, and Canada swiftly responded with a similar levy on US imports.
Stellantis — the owner of Jeep, Chrysler and Fiat — paused production at some Canadian and Mexican assembly plants.
But Japanese carmaker Nissan said on Friday it would revise plans to reduce production in the United States. And Sweden’s Volvo, owned by China’s Geely, said it would increase its US production.

“Messing around with people’s lives”
Democratic Senator Amy Klobuchar lashed out at the tariffs, saying they would hurt regular Americans.
Trump is “messing around with people’s lives... while he’s out golfing!” she said.

 

And there was rare criticism from the right too, with Trump loyalist Republican Senator Ted Cruz worrying that the tariffs could “hurt jobs and hurt America.”
The Fed chairman’s speech also highlighted concerns that the tariff shockwaves will reach deep into the US economy.
But minutes before Powell suggested the Fed will continue to hold off from cutting its benchmark lending rate, Trump pressured him to do so.
“CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!” he posted — once again defying the longstanding custom in which the White House respects the central bank’s independence.
In a more concrete sign of how tariffs are impacting trade, Nintendo announced it was delaying preorders of its hotly anticipated Switch 2 gaming console while it assesses “evolving” conditions.
 


Taliban publicly execute a third person for murder: Afghan Supreme Court

Updated 11 April 2025
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Taliban publicly execute a third person for murder: Afghan Supreme Court

  • Afghanistan’s Supreme Court said Taliban authorities executed three convicted murderers on Friday, bringing to nine the number of men publicly put to death since their return to power

KABUL: Afghanistan’s Supreme Court said Taliban authorities executed three convicted murderers on Friday, bringing to nine the number of men publicly put to death since their return to power, according to an AFP tally.
Two men were executed in front of spectators in Qala I Naw, the center of Badghis province, while a third was killed in Zaranj in Nimroz province, the Supreme Court said in a statement.


Court to rule on Danish arms sales to Israel case

Updated 11 April 2025
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Court to rule on Danish arms sales to Israel case

  • Danish media outlets Danwatch and Information revealed in 2023 that Israel’s F-35s were equipped with parts made by the Danish group Terma

COPENHAGEN: A Copenhagen court is to rule Friday whether a lawsuit filed by four humanitarian organizations accusing Denmark of violating international law by exporting weapons to Israel is admissible in court.
The Palestinian human rights association Al-Haq, Amnesty International, Oxfam and Action Aid Denmark filed the lawsuit against the Danish foreign ministry and national police last year.
They said in a statement there was a risk that “Danish military materiel was being used to commit serious crimes against civilians in Gaza.”
The associations targeted the foreign ministry in their lawsuit since it “determines whether there is a risk that weapons and weapons components could be used to violate human rights” and the police because it was the authority responsible for issuing export licenses.
Denmark’s Eastern High Court is expected to announce its decision around 10:00 am (0800 GMT).
“We are the biggest human rights organization in the world and our mandate is clearly to protect human rights,” the secretary general of the Danish branch of Amnesty International, Vibe Klarup, said in a statement.
Danish media outlets Danwatch and Information revealed in 2023 that Israel’s F-35s were equipped with parts made by the Danish group Terma.
“Amnesty International has been working for several years to rally support for the UN Arms Trade Treaty (ATT) to ensure that states’ arms trading is not used to commit human rights violations,” said Klarup.
Danish Defense Minister Troels Lund Poulsen argued in October that Denmark’s participation in the F-35 program was “crucial for our security and our relations with our main allies.”
Last year, Amnesty International accused Israel of “committing genocide” against Palestinians in Gaza.
The Danish lawsuit was filed in March 2024, on the heels of a similar suit filed in the Netherlands by a coalition of humanitarian organizations.
A Dutch court in December rejected demands by pro-Palestinian groups for a total ban on exporting goods that can be used for military means to Israel.
The health ministry in Hamas-run Gaza says the overall death toll has reached 50,846 since the war with Israel began on October 7, 2023, a figure the UN has deemed reliable.
Hamas’ unprecedented assault on Israel resulted in 1,218 deaths, mostly civilians, according to an AFP tally based on official Israeli data.


Nearly 100 killed after heavy rain in India, Nepal

Updated 11 April 2025
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Nearly 100 killed after heavy rain in India, Nepal

  • The Indian Meteorological Department raised a multi-hazard warning for the country on Wednesday
  • Local media reported that more than 20 people have died in India’s most populous state of Uttar Pradesh

NEW DELHI: Nearly 100 people have died since Wednesday after heavy rain lashed parts of India and Nepal, officials and media said, and the weather department has predicted more unseasonal rain for the region.
The Indian Meteorological Department (IMD) had on Wednesday raised a multi-hazard warning for the country, with heatwave conditions in the western parts and thunderstorms in the eastern and central region.
In the eastern state of Bihar, at least 64 people died in rain-related incidents since Wednesday, a senior official from the state’s disaster management department told Reuters.
Local media reported that more than 20 people have died in India’s most populous state of Uttar Pradesh.
Meanwhile in neighboring Nepal, lightning strikes and heavy rain killed at least eight people, National Disaster Authority officials said.
India’s weather office expects heavy rain with thunderstorm, lightning and gusty winds over central and eastern India till Saturday.
The monsoon season usually begins in June in southern India, and summer months in the recent past have been marked by intense heatwaves that have killed several people.
State-run IMD said last week that India is expected to experience a much hotter April, with above normal temperatures across most of the country.


Early holiday, more fans: Philippines schools adapt to climate change

Updated 11 April 2025
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Early holiday, more fans: Philippines schools adapt to climate change

  • Last year, heatwaves forced millions of children in the Philippines out of school
  • This school year started two months earlier than usual, so the term ends before peak heat in May

MANILA: Kindergarten teacher Lolita Akim fires up five standing fans with three more at the ready as she fights to hold the attention of her pint-sized pupils in Manila’s soaring heat.
Last year, heatwaves forced millions of children in the Philippines out of school. It was the first time that soaring temperatures had caused widespread class suspensions, prompting a series of changes.
This school year started two months earlier than usual, so the term ends before peak heat in May. Classes have been rearranged to keep children out of the midday heat, and schools are equipped with fans and water stations.
The moves are examples of how countries are adapting to the higher temperatures caused by climate change, often with limited resources.
As a teacher, Akim is on the frontlines of the battle to keep her young charges safe and engaged.
“In this weather, they get drenched in sweat; they become uneasy and stand up often. Getting them to pay attention is more difficult,” she said of the five-year-olds in her care at the Senator Benigno S. Aquino Elementary School.
Some six million students lost up to two weeks’ worth of classroom learning last year as temperatures hit a record 38.8°Celsius, according to the education department.
Schools reported cases of heat exhaustion, nose bleeds and hospitalizations as students struggled through lessons in classrooms without air conditioning.
Scientists say that extreme heat is a clear marker of climate change, caused largely by burning fossil fuels like coal, oil and gas.
Last year’s heat was further exacerbated by the seasonal El Nino phenomenon.
But even this year, nearly half Manila’s schools were forced to close for two days in March when the heat index – a measure of temperature and humidity – hit “danger” levels.
“We’ve been reporting (the heat index) since 2011, but it’s only been recently that it’s become exceptionally warm,” national weather service specialist Wilmer Agustin said, attributing it to “El Nino and climate change.”
This year, conditions in most of the country will range between “extreme caution” and “danger” on the government’s heat alert system, he said, “especially in April and May.”
On Friday, scores of schools in Manila were shuttered as temperatures were expected to hit 34°C, while the national weather service said the heat index for at least five provinces would hit the danger level.
During last year’s closures, alternative learning helped make up some of the gap.
But “the overall impact on students’ education was significant,” said Jocelyn Andaya, assistant education secretary for operations.
So this year, a series of measures have been instated to avoid further learning loss.
Classroom sessions have been shortened to four hours a day – avoiding the searing midday sun – and water stations were installed in each classroom as well as at least two oscillating wall fans.
Some newer schools have heat-reflective roofs, and bigger ones now employ nurses.
Just three percent of students affected by last year’s heatwaves were able to access online classes, so this year printed material was prepared for students if they must stay home.
Even so, Benigno Aquino school principal Noel Gelua cautioned that “there is no real alternative to face-to-face learning.”
But there are limits to what can be done, given the education department has a budget of just 10 billion pesos ($174 million) for climate adaptation, infrastructure and disaster readiness.
The Philippines also has a perennial classroom shortage, with 18,000 more needed in the capital alone.
Manila’s public schools do two shifts per day, with about 50 students in each 63 square-meter room, exacerbating the heat problem.
Fifth-grader Ella Azumi Araza, 11, can only attend four days a week due to the shortage.
On Fridays, she studies in her family’s nine-square-meter cinderblock home on a bed she shares with her younger brother, who suffers from epilepsy.
Three electric fans are always on in the windowless, single-room structure.
As hot as it is at home, her mother Cindella Manabat still frets about conditions at school, saying that she comes home coughing.
“I make her carry a jug of water to prevent dehydration,” she said.
Across the street from Benigno Aquino, eighth-graders at President Corazon C. Aquino High School aimed tiny, rechargeable fans at their bodies while taking an algebra quiz.
Two of the four ceiling fans in the room had given out and the remaining two were clearly not enough for the 40 students.
“It is very difficult to teach in the heat,” their teacher Rizzadel Manzano said.
“Motivating them is really a challenge.”
A school uniform requirement was ditched earlier this year, and students now wear sweatpants and T-shirts donated by the city, principal Reynora Laurenciano said.
Both schools are located in a densely populated slum area called Baseco, where conditions at home can be even more dire, she added.
“If you ask them, they consider (school) a safer place,” Laurenciano said.


Trump administration cuts thousands of immigrants off from Social Security

Updated 11 April 2025
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Trump administration cuts thousands of immigrants off from Social Security

  • Adding the immigrants to the so-called ‘death file’ is ‘aimed at putting pressure on the undocumented immigrants to leave the country’
  • The policy aligns with other high-profile anti-immigration measures taken by Donald Trump’s White House since his second term began

WASHINGTON: The Trump administration has added over 6,000 immigrants to a database of dead Social Security recipients, effectively cutting off benefits and their ability to work, US media reported Thursday.

Adding the immigrants to the so-called “death file” is “aimed at putting pressure on the undocumented immigrants to leave the country,” the Washington Post said, citing a White House official.

The policy aligns with other high-profile anti-immigration measures taken by Donald Trump’s White House since his second term began, including sending more than 200 suspected gang members to a notorious prison in El Salvador.

Social Security Numbers (SSNs) are a key identifier for people in the United States, used to report earnings, establish eligibility for welfare benefits and other purposes.

Hundreds of thousands of people who are in the country illegally nevertheless have a US Social Security Number.

Many arrived during the Biden administration, which allowed certain people to enter temporarily as a way of reducing illegal border crossings.

The White House official told the Washington Post that once people are listed as dead in the Social Security system, they will be shut out by many employers, landlords and banks as well as federal agencies – essentially ending their ability to earn a living in the country.

Media reported that the move to use the “death file” was spearheaded by staff from Elon Musk’s so-called Department of Government Efficiency (DOGE).

Citing administration documents, the New York Times reported that the initial group of 6,300 people was made up of “convicted criminals and ‘suspected terrorists.’”

But both papers reported that the measure could soon be applied to many more undocumented migrants.

Weaponizing the Social Security system against undocumented migrants follows steps taken to share taxpayer information from the Internal Revenue Service (IRS) with immigration authorities announced on Tuesday.

Millions of undocumented migrants have long paid taxes as a way of boosting both their immigration cases and the financial health of massive US federal programs such as Social Security.