China will increase its defense budget by 7.2% this year, according to recent reports. This decision was made during the National People's Congress (NPC) in Beijing, where military delegates were present at the Great Hall of the People on March 5, 2025.
https://mainichi.jp/english/articles/20250305/p2g/00m/0in/026000cUS President Donald Trump imposed tariffs on China, Canada and Mexico, sparking fears of a trade war that could impact global growth. Copper prices fell 0.7% to $9,351 a metric ton as traders awaited more clarity. China retaliated with increased duties on American agricultural products, while the start of China's National People's Congress may provide stimulus for the economy. Trump paused military aid to Ukraine following a clash with President Volodymyr Zelenskiy, but details are unclear.
China announced fresh tariffs on US imports, including agricultural products, in response to President Donald Trump's latest levies, which increased the previously imposed 10% tariff on Chinese goods to 20%. This move led to a decline in Asian markets, with Tokyo and Hong Kong recovering some losses. Japanese automakers like Nissan, Toyota, and Honda suffered due to their Mexican factories being affected by US tariffs. Investors are hoping for an economic stimulus package from China at its National People's Congress meeting on Wednesday, which could provide pro-growth measures. The oil market saw sharp declines, with West Texas Intermediate crude falling to $67.99 per barrel. Bitcoin's price plummeted nearly 10% as investors sought safer investments amid concerns of an escalating trade war.
https://channelnewsasia.com/asia/asian-stocks-pare-their-losses-after-chinas-retaliatory-tariffs-4974716US Commerce Secretary Howard Lutnick announced that tariffs on Canada and Mexico will go into effect on Tuesday, with the possibility of maintaining the planned 25% level. A 10% levy on Chinese imports is also set to take effect this week as China's National People's Congress begins its third annual session. Economist Michael Feroli warned that such a move could create significant economic headwinds and support consumer prices.
https://www.brecorder.com/news/40350963/asia-shares-in-tense-wait-for-tariff-news-bitcoin-surgesEuropean leaders are working on a peace plan to present to the US, amid concerns about Ukraine's conflict with President Trump. The US economy is facing uncertainty, with a string of soft data showing an annualized GDP growth rate of -1.5%, sparking fears of a recession. US Commerce Secretary Howard Lutnick announced tariffs on Canada and Mexico will go into effect, but the level may be adjusted by President Trump. China's National People's Congress is set to announce stimulus measures and possible reprisals against the US. The January US payrolls report is expected to show weak numbers, fueling speculation of interest rate cuts by the Federal Reserve.
https://channelnewsasia.com/business/shares-cling-hopes-tariff-relief-bitcoin-jumps-4971311China and Hong Kong equities plummeted this week as US President Donald Trump announced fresh tariffs on Chinese imports, escalating geopolitical tensions between the two mega economies. The Hang Seng Index in Hong Kong fell over 3%, its largest one-day decline since October, while China's CSI300 Index and Shanghai Composite Index both lost around 2%. Investors booked profits on tech stocks, with tech majors trading in Hong Kong slumping 5.3% after surging nearly 30% so far this year. The market is now shifting focus to economic fundamentals and macro policy ahead of the National People's Congress meeting scheduled for March 5.
https://www.brecorder.com/news/40350701/china-hk-stocks-close-the-week-lower-on-fresh-trump-tariffsUS President Donald Trump's heated exchange with Ukraine's Volodymyr Zelenskyy in the Oval Office has put the US-Ukraine relationship in jeopardy, leaving Kyiv's ability to defend itself against Russia uncertain. Trump told Zelenskyy that if a deal is not made, the US will leave Ukraine to continue fighting without its strongest backer. In response, Zelenskyy expressed gratitude to the American people and Congress for their support, describing the relationship between their peoples as "historic and solid."
https://www.boston25news.com/news/politics/trumps-oval-office/VO4MPBERRJDRJNN7APWLYQIIKQ/Ukrainian President Volodymyr Zelensky thanked dozens of allies on social media after a publicized clash with the new US administration in the White House. He reiterated his gratitude to the United States, including President Donald Trump and Congress, for their support during Ukraine's three-year invasion by Russia. Zelensky emphasized that a ceasefire without security guarantees is dangerous for Ukraine and stressed the need for just and lasting peace. He also stated that Russia is the enemy and that Ukraine must be strong at the negotiation table to achieve peace.
https://www.ndtv.com/world-news/ukraine-wants-real-peace-ready-to-sign-minerals-deal-says-zelensky-hours-after-oval-office-clash-with-trump-7823537#pfrom=home-ndtv_topscroll_ImagetopscrollUkrainian President Volodymyr Zelenskyy thanked the "American people" and their leadership, expressing hope for strong relations with the US after a surprising clash with Donald Trump at the White House. Ukraine arrived at the meeting to sign a critical mineral agreement with the US, hoping it would be a step towards an immediate ceasefire, but left empty-handed. Zelenskyy expressed gratitude specifically to Trump and the Congress, as well as the "American people", calling their relationship "a historical and solid bond between our peoples". He hopes for strong relations with the US.
https://apnews.com/article/ucrania-rusia-guerra-zelenskyy-trump-eeuu-e63d213c207f9f18af3c8aec72634f86