Connect with us

WORLD

Trump’s tariff exemptions give markets relief, but tensions loom

Published

on

Trump’s tariff exemptions give markets relief, but tensions loom


A specialist works at his post on the floor of the New York Stock Exchange, on April 14, 2025.
| Photo Credit: AP

U.S. tariff exemptions for electronics prompted market rallies Monday (April 14, 2025) from Asia to Wall Street, but failed to settle nerves over a global trade war that Chinese leader Xi Jinping warned would have “no winner.”

Wall Street was buoyant, with the Dow Jones index rising one percent shortly after the opening and the S&P 500 up 1.45 percent. This followed boosts on Asian and European markets.

Investors are relieved at the apparent easing of pressure in President Donald Trump’s wide-ranging but often chaotic attempt to reorder the world economy by using tariffs to force manufacturers to relocate to the United States.

Tit-for-tat exchanges have seen U.S. levies imposed on China this year rise to 145%, and Beijing setting a retaliatory 125% barrier on U.S. imports.

But even the electronics tariff reprieve — that US officials late Friday said would mean exemptions from the latest duties against China for a range of high-end tech goods such as smartphones, semiconductors and computers — brought new uncertainty.

Mr. Trump suggested Sunday that the exemption would be only temporary and said he still planned to put barriers up on imported semiconductors and much else.

“NOBODY is getting ‘off the hook’ for the unfair Trade Balances,” Trump blasted on his Truth Social platform. “We are taking a look at Semiconductors and THE WHOLE ELECTRONICS SUPPLY CHAIN.”

On Monday in remarks at the White House, Trump once again pivoted to suggesting possible compromise, saying he was “looking at something to help some of the car companies” hit by his 25% tariff on all auto imports.

“I don’t want to hurt anybody,” he said.

The Chinese Commerce Ministry said Friday’s move was only “a small step” and all tariffs should be cancelled.

China’s Xi warned Monday — as he kicked off a Southeast Asia tour with a visit to Vietnam — that protectionism “will lead nowhere” and a trade war would “produce no winner.”

-Short-lived relief?

Mr. Trump initially unveiled huge tariffs on countries around the world on April 2.

He then made an about-face a week later when he said only China would face the heaviest duties, while other countries got a global 10% tariff for a 90-day period.

The trade war is raising fears of an economic downturn as the dollar tumbles and investors dump U.S. government bonds, normally considered a safe haven investment.

And the latest wrangling over high-tech products — an area where China is a powerhouse — illustrates the uncertainty plaguing investors.

Washington’s new exemptions will benefit US tech companies such as Nvidia and Dell as well as Apple, which makes iPhones and other premium products in China.

But the relief could be short-lived, with some of the exempted consumer electronics targeted for upcoming sector-specific tariffs on goods deemed key to US national defense networks.

On Air Force One Sunday, Mr. Trump said tariffs on semiconductors — which power any major technology from e-vehicles and iPhones to missile systems — “will be in place in the not distant future.”

The US president said he would announce tariffs rates for semiconductors “over the next week,” and Commerce Secretary Howard Lutnick said they would likely be in place “in a month or two.”

-Negotiations

The White House says Mr. Trump remains optimistic about securing a trade deal with China, although administration officials have made it clear they expect Beijing to reach out first.

U.S. Trade Representative Jamieson Greer told CBS’s “Face the Nation” on Sunday that “we don’t have any plans” for talks between Trump and Xi.

The Trump administration also says that dozens of countries have already opened trade negotiations to secure deals before the 90-day pause ends.

Japanese Economic Revitalization Minister Ryosei Akazawa will visit Washington for negotiations this week, with his country’s automakers hit by Trump’s 25% tariff on the auto sector.

He warned that Japanese company profits are already “being cut day by day.”

“I will do my best, bearing in mind what’s best for our national interests and what is most effective,” Akazawa said in parliament.



Source link

WORLD

U.K. lifts sanctions against some Syrian government agencies and media outlets

Published

on

U.K. lifts sanctions against some Syrian government agencies and media outlets


A picture of Bashar al-Assad, damaged by bullets.
| Photo Credit: Reuters

The British government said Thursday it was lifting sanctions against a dozen Syrian entities, including government departments and media outlets, to help the country rebuild after President Bashar Assad was toppled from power in a lightning rebel offensive in December.

The U.K. had put the sanctions in place against those who supported Assad’s repressive rule, helped violently suppress civilians and spread misinformation.

“The Syrian people deserve the opportunity to rebuild their country and economy, and a stable Syria is in the U.K.’s national interest,” Hamish Falconer, minister for the Middle East, said in a statement explaining the purpose of lifting the sanctions.

Syria’s new leaders have struggled to begin rebuilding the country’s decimated economy and infrastructure after nearly 14 years of civil war. The new authorities in Damascus have made a push for harsh sanctions imposed by western countries on Assad’s government to be lifted, with limited success.

Financial sanctions and asset freezes were lifted on several government agencies, including the ministries of interior and defense, the Foreign Office said.

Sanctions were also dropped against the General Organization of Radio and TV, a state-run agency that allegedly spread propaganda for Assad and incited violence against civilians. The Foreign Office said it also lifted sanctions against Al Watan, a newspaper, Cham Press TV, and Sama TV, for spreading misinformation.

Sanctions imposed against Assad and associates remain in place and legislation was amended to allow the former leader and others to be held accountable for atrocities committed against Syrians.

In March, the U.K. dropped sanctions against two dozen Syrian businesses, mostly banks and oil companies.

The Trump administration in the U.S. has yet to formally recognize the new Syrian government led by President Ahmad al-Sharaa, an Islamist former insurgent who led the offensive that ousted Assad. The militant group al-Sharaa led, Hayat Tahrir al-Sham, remains a U.S.-designated terrorist organization, and the sanctions imposed on Damascus under Assad remain in place.

However, Washington has eased some restrictions. The U.S. Treasury in January issued a general license, lasting six months, that authorizes certain transactions with the Syrian government, including some energy sales and incidental transactions.

The European Union, meanwhile, has begun to ease some energy and transport sanctions and banking restrictions against Syria, suspending measures targeting oil, gas and electricity as well as transport, including the aviation sector.



Source link

Continue Reading

WORLD

US asks for home addresses, biometrics of H-1B applicants first time ever: ‘Highly unusual’ – The Times of India

Published

on

US asks for home addresses, biometrics of H-1B applicants first time ever: ‘Highly unusual’ – The Times of India


USCIS is seeking home address and biometrics as additional data from H-1B applicants, if there is any ‘adverse information’ about the applicant.

In a fresh trouble for H-1B applicants, federal immigrant authorities are asking for home addresses and biometrics for H-1B and employment-based immigrant petitions, which immigrant lawyers think is highly unusual, as biometrics are not generally required. Immigrant authorities are issuing Requests for Evidence (RFE) for this data.
A Request for Evidence is a formal notice issued by the USCIS when additional documents are required for evaluating a petition. It can not be seen as a denial but a standard part of the process if there is any gap in the applications. According to USCIS guidelines, an RFE should clearly outline which eligibility criteria have not been met, explain why existing materials are insufficient, and suggest what additional evidence could help meet the requirements.
These requests are quite common if there is a missing documentation, inconsistencies in project details or a lack of supporting evidence.

Is it targeting H-1Bs amid crackdown on immigrants?

Immigration law firm Goel & Anderson’s Vic Goel told Forbes this is highly unusual because biometrics are not typically required for these case types.”The RFEs also fail to explain the nature of the adverse information, leaving employers and attorneys in the dark. It appears that DHS [Department of Homeland Security] may be using AI tools to flag individuals based on undisclosed data, possibly from social media or other government databases.”
“We have encountered potentially adverse information related to the beneficiary. To continue processing your application or petition, we required an updated address for the beneficiary so that we may collect biometric data,” a USCIS adjudicator wrote in a Request for Evidence, according to Forbes.
The “adverse information” part goes along with the crackdown on immigrants by the Trump administration. Secretary of State Marco Rubio recently said making America safe means revoking visas when threats arise. “US visa holders should know in no uncertain terms that the US government’s rigorous security vetting does not end once a visa is granted,” Rubio said.





Source link

Continue Reading

WORLD

Israeli airstrike kills at least 44 people in Gaza, hits a police station

Published

on

Israeli airstrike kills at least 44 people in Gaza, hits a police station


A view of destroyed machinery at the site of an Israeli strike, in Jabalia refugee camp in the northern Gaza Strip, April 22, 2025.
| Photo Credit: Reuters

An Israeli airstrike hit a police station in Jabalia in the northern Gaza Strip on Thursday (April 24, 2025), killing at least 10 people, local health authorities said, and Israel’s military said it had struck a command centre of Hamas and the Islamic Jihad groups.

Medics said two Israeli missiles hit the police station, located near a market, which led to the wounding of dozens of people in addition to the 10 deaths. The identities of those killed were not immediately clear.

The Israeli military said in a statement apparently referring to the same incident, that it attacked a command and control centre operated by Hamas and the allied Islamic Jihad groups in Jabalia, which militants used to plan and execute attacks against Israeli forces.

It accused Palestinian militant groups of exploiting civilians and civil properties for military purposes, an allegation Hamas and other factions deny.

Local health authorities said Israeli strikes have killed at least 34 other people in separate airstrikes across the enclave, bringing Thursday’s death toll to 44.

The Gaza Health Ministry said the Durra Children’s Hospital in Gaza City had become non-operational, a day after an Israeli strike hit the upper part of the building, damaging the intensive care unit and destroying the facility’s solar power panel system.

No one was killed. There was no Israeli comment on the incident.

Gaza’s health system has been devastated by Israel’s 18-month-old military campaign, launched in response to the October 7 attack by Hamas in 2023, putting many of the territory’s hospitals out of action, killing medics, and reducing crucial supplies.

Since a January ceasefire collapsed on March 18, Israeli attacks have killed more than 1,900 Palestinians, many of them civilians, according to the Gaza health authorities, and hundreds of thousands have been displaced as Israel seized what it calls a buffer zone of Gaza’s land.

Efforts by Arab mediators Qatar and Egypt, backed by the United States, have so far failed to reconcile disputes between the two warring parties, Israel and Hamas.

The attack on Israel by Hamas in October 2023 killed 1,200 people, and 251 hostages were taken to Gaza. Since then, more than 51,300 Palestinians have been killed in the Israeli offensive in Gaza, according to health officials.



Source link

Continue Reading

Trending

Copyright © 2025 Republic Diary. All rights reserved.