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President Claudia Sheinbaum said that Mexico could shift trade alliances «if necessary,» referring to the possible continuation of the tariffs. Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with fresh duties on Chinese goods, standing to seriously alter supply chains and long-standing trade partnerships.

Facebook/ Meta will be published next week. Flatiron Books announced Wednesday that «Careless People» is scheduled for Tuesday. The memoir is written by Meta's former director of global public policy, Sarah Wynn-Williams, who left what was then Facebook in 2018. "'Careless People' takes readers inside Meta's board rooms, private jets, and meetings with heads of state, revealing the appetites, excesses, blind spots, and priorities of executives Mark Zuckerberg, Sheryl Sandberg, and Joel Kaplan," the publisher's announcement reads in part. «Wynn-Williams paints a portrait of this group as profoundly flawed, self-interested, and careless human beings, callously indifferent to the price others would pay for their own enrichment.»

Subscribe to enjoy similar stories. BEIJING : As President Trump ratchets up the political and economic pressure on China, Beijing has responded with a clear message: China will resist U.S. efforts to constrain its rise.

Malaysia on Wednesday to bolster the Southeast Asian country's efforts to produce high-end semiconductors amid the US-China tech trade war. Malaysia is a key player in the vital chips sector but has been largely focused on packaging, assembly and testing services — the lower end of the market. The agreement will see Softbank-owned Arm provide chip designs and other technology, helping Malaysia to move into more value-added production such as wafer fabrication and integrated circuit design.

Hong Kong billionaire Li Ka-shing may have just pulled off one of his boldest transactions yet. Under pressure from the Trump administration over two ports at the Panama canal controlled by CK Hutchison Holdings Ltd., Li’s company announced a plan to sell off the bulk of its global ports business to a consortium led by BlackRock Inc. In return, the Hong Kong firm will receive cash proceeds of more than $19 billion. Investors, and even some of CK Hutchison’s closest advisers, were surprised that what began with two Panamanian ports has now evolved into a much larger deal. Under the agreement, the company will sell 43 ports in 23 countries, while keeping facilities in mainland China and Hong Kong.

Subscribe to enjoy similar stories. In the last two weeks, the People’s Liberation Army (PLA) of China conducted live-fire naval drills in the international waters off Australia, New Zealand and Vietnam, and shooting drills in the Taiwan Strait. This show of military might is a sign of China’s growing confidence as a maritime power.

Subscribe to enjoy similar stories. Target boss Brian Cornell and his team were walking through a New York City conference center Monday night when the news broke: President Trump was following through on his tariff threats. The retailer’s executives huddled sitting on sofas in a greenroom next to the stage where they would meet with their biggest investors on Tuesday.

China has signaled plans for a hydropower project in Tibet along one of the region’s main rivers, fanning speculation of a mega-dam that would test its engineering and diplomatic nous. The country will undertake the construction of a dam on the lower reaches of the Yarlung Tsangpo River in Tibet, and a power transmission project from Tibet to the Hong Kong area, the National Development and Reform Commission said in its annual report to the National People’s Congress on Wednesday. The Yarlung Tsangpo has long been mooted as a site for a mega-dam. In 2020, a state media report cited the head of government-owned Power Construction Corp. of China as saying the lower reaches of the river had a huge gorge with potential for 70 gigawatts of electricity generating capacity — more than triple that of the Three Gorges Dam, the largest in the world.

Donald Trump has set April 2 as the date for implementing reciprocal tariffs on a range of imports from several major trading partners. The tariffs, he said, are a response to what he considers unfair trade practices by countries like Canada, Mexico, China, the European Union, and India. This move is part of Trump’s broader agenda to reshape U.S. trade policies and create a more balanced global trading environment.

Indian rupee gained on Wednesday on broad-based interbank dollar sales and after the central bank's firm defence of 87.40-87.50 levels in recent sessions helped keep a lid on speculative bets against the currency. The rupee was at 87.1550 against the U.S. dollar as of 10:00 a.m. IST, up 0.1% on the day.

International Monetary Fund Managing Director Kristalina Georgieva. Many nations are facing weaker growth prospects and are saddled with high debt while supply chains have come under pressure due to the Covid-19 pandemic and geopolitical developments, Georgieva said remotely from the US at an IMF event in Tokyo. “We also know trade is no longer the engine of global growth it used to be,” she said. “The new US administration is rapidly reshaping its policies on trade, taxation, public spending, deregulation and digital assets, and other governments are also recalibrating their approaches and adjusting their policies.”

European Commission's proposal to ease emission targets would enable struggling automakers to keep profits flowing from fossil fuel models but could potentially stall Europe's shift to electric vehicles and climate progress. European car companies, already beset by Chinese competition, had been warning that they would struggle to meet the ambitious 2025 carbon dioxide (CO2) reduction target, which exposed the sector to hefty fines. The European Union's executive arm proposed on Monday to give automakers three years to meet the target, a change that must now be approved by EU states and the bloc's parliament.

Jefferies, JPMorgan, and Morgan Stanley have shared their views on Varun Beverages, M&M Financial Services, and Polycab India, respectively, maintaining positive ratings and raising target prices.

Donald Trump's long-threatened tariffs are here, plunging the country into an escalating trade war with China, Canada and Mexico. Trump’s 25% tariffs on imports from Canada and Mexico went into effect Tuesday, along with a heightened 20% levy on Chinese goods. In response, all three countries announced retaliatory measures. Experts say consumers and businesses will be the hardest hit. Companies big and small will face higher costs on the goods they buy from other countries — and could have little recourse but to hike prices themselves. For consumers, that will likely mean more expensive price tags on everything from cars, appliances and other big-ticket items to smaller, everyday purchases including electronics, gasoline and groceries.

China on Wednesday increased its defense spending by 7.2% this year, the same growth rate as in the prior two years, as Beijing seeks to «firmly safeguard» its national security.

China said on Wednesday it would boost support for the application of artificial intelligence (AI) models and the development of venture capital investment, in a bid to foster more technology breakthroughs and become more self-reliant. The plans were included in a government document prepared for the annual meeting of the National People's Congress (NPC), China's rubber-stamp parliament. The country wants to foster «industries of the future» including biomanufacturing, quantum technology, embodied AI and 6G technology, the report said. To do so, China plans to explore new models for national laboratories as well as give strong support and «important responsibilities» to young scientists and engineers.

China on Wednesday set its GDP growth target for 2025 at «around 5%» and laid out stimulus measures to boost its economy amid escalating trade tensions with the U.S.

BEIJING — China on Wednesday announced plans to raise its fiscal deficit to «around 4%» of gross domestic product, a rare increase that marks a meaningful shift in policy.

trade tensions, Swaminathan Aiyar, Consulting Editor at ET Now Swaminathan Aiyar has downplayed concerns over the direct impact of U.S. tariff plans on India. In an interaction with ET Now, Aiyar asserted that India is «hardly on the radar screen» when it comes to Washington’s trade actions, which are largely aimed at economic heavyweights like Russia, China, and Mexico. While Union Minister Piyush Goyal’s upcoming visit to the U.S. has sparked speculation over potential trade negotiations, Aiyar believes that the scope of such discussions remains limited.

China's yuan was firm in offshore trading following a rally of about 0.7% in the prior session, as annual parliamentary sessions of the National People's Congress (NPC) kicked off with Beijing retaining a 5% economic growth goal for 2025.

Donald Trump's much anticipated speech got underway on the wee hours of Wednesday and the 78-year-old Republican hailed the country's achievements in the last 40-odd-days and said that 'America is back'. «We have accomplished more in 43 days than most administrations accomplish in four years or eight years — and we are just getting started,» Trump said as chants of «USA, USA!» erupted from the lawmakers seated in the US Capitol. «The American Dream is surging — bigger and better than ever before. The American Dream is unstoppable, and our country is on the verge of a comeback the likes of which the world has never witnessed, and perhaps will never witness again.»