Washington Financial News
06.04 / 09:03
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Minerals become ultimate bargaining chip in Trump’s diplomatic deals
Subscribe to enjoy similar stories. WASHINGTON—President Trump is pressing for access to mineral rights across the globe, hoping to outduel China in a global competition for raw materials to fuel U.S. military and industrial might.
06.04 / 09:03
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China wanted to negotiate with Trump. Now it’s arming for another trade war.
Subscribe to enjoy similar stories. Beijing spent the first months of President Trump’s second term trying—and failing—to figure out the new administration’s approach to China. Officials hoping to build lines of communication with Washington had no luck.
06.04 / 05:59
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India stays measured amid Trump’s tariff war, pushes for US trade deal
Subscribe to enjoy similar stories. New Delhi: India will refrain from taking retaliatory action against the US’ reciprocal tariffs or making sharp public responses against Washington, keeping trade diplomacy at the centre of its strategy, a senior government official said. As a global tariff war unfolds in response to US President Donald Trump’s additional tariffs on more than 60 nations, India is taking a calm and measured approach, positioning itself as a balanced negotiator, the official said.
06.04 / 01:33
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‘Hands Off!’ protests: Over 600,000 rally across US against Trump and Musk policies
Protesters voiced anger over a range of issues: mass layoffs in the federal workforce, abortion restrictions, trade tariffs, and the gutting of public services. From Anchorage to Atlanta, demonstrators held signs warning of rising authoritarianism and falling living standards. “This outrageous administration is causing us to lose our allies across the world, and causing devastation to people here at home,” said Diane Kolifrath, 64, who travelled with 100 others from New Hampshire to protest in Washington. “They’re gutting our government.”
05.04 / 20:25
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Kamala Harris’s concession call to Donald Trump was awkward; here’s what they said to each other
2024 election was over, the then vice president Kamala Harris made the tough phone call to president-elect Donald Trump to concede the election. As expected, the call was tense and awkward, but new information from Chris Whipple's upcoming new book 'Uncharted: How Trump Beat Biden, Harris, and the Odds in the Wildest Campaign in History', highlighted just how uncomfortable the conversation actually was, as per a report. The call was arranged from her Naval Observatory residence in Washington D.C., with her campaign Chief of Staff Sheila Nix and White House Chief of Staff Lorraine Voles, reported Daily Mail. According to Whipple's book, «Nix called the president-elect on her cell phone — but for some reason couldn't merge the call with the vice president's phone. So Voles called Harris on hers — and she and Nix pressed the phones together,» quoted Daily Mail. After Trump picked up the call, Voles told Trump that, «The vice president is on the line,» as quoted in the report.
05.04 / 17:41
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Provident
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prevention
Pharmaceuticals
India emerges winner in US reciprocal tariff, sees limited impact of pharma tariffs
reciprocal tariffs imposed by the US and has a first mover advantage as compared to other countries because of the Bilateral Trade Agreement (BTA) that the two are negotiating, officials said, adding that Indian exporters are better positioned to deal with the additional US tariffs as compared to their competitors. The country, they said, will take all measures to check dumping of goods from China as Beijing is slapped with steeper tariffs and work within the World Trade Organization (WTO) framework to prevent the dumping of excess capacity into its markets by countries hit by high US tariffs. “The government is there to protect domestic industry from any possibility of dumping of goods in such a situation,” said an official. New Delhi is also exploring measures to protect sensitive sectors like dairy and agriculture amid the trade war. While the reciprocal tariffs on India are 26%, those on China are 34%. India is also likely to gain from the US-China trade war.
05.04 / 07:03
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Senate GOP approves framework for Trump's tax breaks and spending cuts after all-night session
Senate Republicans plugged away overnight and into early Saturday morning to approve their multitrillion-dollar tax breaks and spending cuts framework, hurling past a hard line of Democratic opposition toward what President Donald Trump calls the «big, beautiful bill» that's central to his agenda. The vote, 51-48, fell along mostly party lines. It could not have come at a more difficult political moment. The U.S. economy is churning after Trump's vast tariff scheme sent stocks plummeting, and experts are warning of soaring costs for consumers at home and threats of a potential recession. Even some Republicans have expressed concerns. But with a nod from Trump GOP leaders held determined to march ahead. Approval paves the way for Republicans, in the months ahead, to try to power a tax cut bill through both chambers of Congress over the objections of Democrats, just as they did in Trump's first term with unified party control in Washington. «Let the voting begin,» Senate Majority Leader John Thune, R-S.D., said Friday night. The evening kicked off what's called vote-a-rama as Democrats were intent on making the effort as politically painful as possible, with votes on some two dozen amendments to the package that GOP senators will have to defend before next year's midterm elections.
05.04 / 05:45
Manufacturing
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Adidas
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Factories under threat, Southeast Asian countries look to court Trump to ease the pain
Vietnam, Thailand and Cambodia have for years worked to turn themselves into alternatives to China for factories making the bags, electronics, shoes and auto parts that eventually end up in the United States. Now, they will face some of the most punishing tariffs. All three countries have said in recent days that they’re open to negotiations over the “reciprocal tariffs” Trump announced this week, while Singapore, a finance and trade hub, has said that it doesn’t plan to strike back. The offers come as nations worldwide weigh how to respond to Trump’s decision to slap tariffs from 10% to as high as 50% on every country. Since his announcement, trillions of dollars in market value have been wiped out globally and triggered widespread recession alarms. Southeast Asia’s offers to negotiate contrast with China’s immediate retaliation, while the European Union is preparing its own countermeasures if talks fail. Trump and Vietnam's leader To Lam have agreed to discuss a deal to remove tariffs, both leaders said after a phone call that Trump said was «very productive», as Hanoi has escalated its campaign to dodge duties of 46%.
05.04 / 04:11
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Relationships
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Inside Elon Musk’s shock-and-awe months in the White House
Subscribe to enjoy similar stories. WASHINGTON—In the end, all it took to oust Postmaster General Louis DeJoy, whom President Trump appointed in his first term, was a nudge from Elon Musk. During a Friday meeting last month at Trump’s Bedminster, N.J., club, Musk complained to the president that DeJoy was resisting his cost-cutting efforts at the U.S.
05.04 / 03:43
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Pete Hegseth to travel to Panama for meetings following Trump's demands for canal
Sean Parnell, chief Pentagon spokesman, said Friday that Hegseth will participate in the 2025 Central American Security Conference. He said Hegseth will take part in meetings that «will drive ongoing efforts to strengthen our partnerships with Panama and other Central American nations toward our shared vision for a peaceful and secure Western Hemisphere.» He did not mention the canal, which was built by the US in the early 1900s as it looked for ways to facilitate the transit of commercial and military vessels between its coasts. Washington turned control over to Panama on Dec. 31, 1999, under a treaty signed in 1977 by President Jimmy Carter. Trump has claimed that Carter «foolishly» gave the canal away. After Trump's threats, a Hong Kong-based conglomerate has agreed to sell its controlling stake in a subsidiary that operates ports near the Panama Canal to a consortium including BlackRock Inc., effectively putting the ports under American control. The deal will give the U.S. investment management company BlackRock Inc. control over 43 ports in 23 countries, including the ports of Balboa and Cristobal, located at either end of the Panama Canal. Other ports are in Mexico, the Netherlands, Egypt, Australia, Pakistan and elsewhere.
04.04 / 23:01
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'Gave it my all': Elena Delle Donne announces retirement from WNBA
The announcement by the seven-time all-star was made on Instagram on Friday, claiming that her body seemed to have made this decision «before my mind accepted it,» ESPN reported.
04.04 / 19:17
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White House grounds off-limits as anti-Trump protests loom, forcing postponement of iconic garden tours
White House is being pushed back by one day. With a major anti-Trump rally expected to draw thousands to D.C. on Saturday, officials have postponed the garden tours that were scheduled for that day, citing safety and crowd concerns around the White House.
04.04 / 17:29
Manufacturing
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electronic
US recalibrates tariff on India to 26%, China fires back with retaliation and WTO complaint
Subscribe to enjoy similar stories. NEW DELHI : As the US recalibrates its reciprocal tariff policy following a data miscalculation, India will now face an additional 26% tariff across a range of commodities starting 9 April. This marks a slight downward revision from the 27% hike announced on 2 April after the US administration corrected its trade deficit computations.
04.04 / 14:35
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show
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innovations
The 1960s ‘Chicken Tax’ Shows the Lasting Impact of Tariffs
Subscribe to enjoy similar stories. Nothing is more American than the pickup truck. One big reason why: the “chicken tax." The U.S.
04.04 / 11:27
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COST
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Trump dives into political unknown with tariff plan
Subscribe to enjoy similar stories. WASHINGTON—President Trump promised a new American golden age. But the immediate fallout from his expansive tariffs has been a shuddering stock market and rising fears of a recession.
04.04 / 10:49
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Man with an 'altered mental state' goes on stabbing spree in Washington DC; injures six
altered mental state" due to an unknown substance, went on a stabbing spree. The incident occurred around 3:22 p.m. (local time) at the intersection of Montello Avenue and Meigs Place NE. «Officers arrived on scene in less than a minute and located numerous people suffering from stab wounds,» D.C. Chief Pamela Smith said during a press briefing, as reported by ABC news. Preliminary investigations suggest the suspect began the attack by stabbing himself while walking down the street, before turning his aggression towards a female acquaintance accompanying him. He then proceeded to attack other individuals present on the block. Among the injured were four women and two men, including a grandmother and her two granddaughters.
04.04 / 02:01
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The White House whirlwind that led to Trump’s all-out tariff strategy
Subscribe to enjoy similar stories. WASHINGTON—In the final run-up to President Trump’s “Liberation Day" tariff announcement, aides were left with a difficult task. They were struggling to square the president’s seemingly contradictory goals for sweeping new duties.
03.04 / 18:39
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FIVE
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Marco Rubio tells NATO that US committed to alliance; says it must be ‘stronger’
Marco Rubio has assured NATO allies that Washington is committed to the alliance, despite concerns raised by President Donald Trump’s earlier remarks. Speaking at a NATO foreign ministers’ meeting in Brussels, Rubio said that the United States seeks a stronger and more capable NATO. Rubio, as per the reports, said that the US is as active in NATO as it has ever been. He dismissed alleged hysteria and hyperbole in the media over Trump’s stance on the alliance. Rubio said that Trump has made it clear that the US supports NATO and they will remain a part of the organisation. However, Rubio reiterated Trump’s call for NATO allies to shoulder more responsibility. He, as per the Euro News report, urged European nations and Canada to increase their defence spending to five per cent of GDP. This reportedly is double of the current two per cent target which several nations including Belgium, Italy, and Spain fail to meet. Also Read :Judge who sentenced Marine Le Pen now under police protection
03.04 / 18:33
UPS
economy
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shock
International
Trump's tariffs: A reckless gamble or a necessary overhaul of trade?
And he belaboured global trade with them on Wednesday. Much of the planet is in shock. This includes penguins and seals who are the sole inhabitants of Heard and McDonald Islands, an Australian external territory near Antarctica, which has been slapped with a 10% tariff. India is mildly disappointed that its constructive and radical offer to Washington — zero-for-zero tariffs on 70% of manufactured goods — didn't give it a reprieve beyond pharma. But GoI has sensibly taken a 'Keep Calm and Carry On' attitude to what it has come to recognise is a period of geopolitical upheaval, as the US, Russia and China, in their separate ways, disorder the global order.
03.04 / 15:17
markets
trends
Trade
War
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reports
US 10-year treasury yield drops to 6-month low after Donald Trump’s sweeping tariff plan
global trade war. The 10-year Treasury yield fell by 11 points to 4.085 per cent. This is the lowest level in six months while the two-year yield dropped by 9.5 basis points to 3.809 per cent. The broader bond market, as per reports, echoed this trend, with the 30-year Treasury yield slipped to 4.44 per cent. The 1-year Treasury yield declined to 3.957 per cent. The fall in yields is an indicator of the shift in investor sentiment towards safer assets amid looming economic uncertainty.
03.04 / 12:01
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A controversial idea to hand even more power to the president
Subscribe to enjoy similar stories. Leading the Office of Management and Budget (OMB) may sound mundane, but the role is one of Washington’s most important. Russell Vought, who did the job for the final two years of Donald Trump’s first term, is poised to return.
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