1. From just past midnight local time (05:01 BST), China will face 104% tariffs from the US, after refusing to dial back on their own retaliatory action. The rest of Trump’s “reciprocal” tariffs will also go ahead, directly impacting about 60 countries and territories.
2. Global leaders are still denouncing the tariffs. UN Secretary-General António Guterres says”nobody wins” in a trade war, and France’s President Emmanuel Macron urges Trump to “reverse his decision.”
3. Almost 70 countries have approached the US to begin negotiations over the tariffs, the White House said.
4. Trump’s economic advisor Kevin Hassett says the discussions are positive, and that there are “a lot of concessions on the table”. It will be down to Trump to decide on any deals.
5. As for the stock markets, US stocks have rallied, and the big European markets were in the green, but that doesn’t mean the worst is over, analysts warn.
6. Sarah Wells, the founder of a small US-based company whose products are manufactured in China, calls the tariffs “unsustainable” and says she is “devastated” at the price rises she faces from the tariffs.
AFP
