NewsFeed

April 2, 2025

Ueda Warns of Tariff Fallout on Australia and NZ

The Bank of Japan's Governor, Ueda, warns that US tariffs could significantly impact global trade, particularly for countries like Australia and New Zealand whose currencies are exposed to collateral damage from the tariff fallout. Meanwhile, Panin Bank is considered a good fit for DBS' Indonesia operations due to its surplus capital, which can potentially fund an acquisition. The Federal Reserve's Goolsbee expresses concerns about the US economy being solid but facing uncertainty around tariffs.

https://www.businesstimes.com.sg/companies-markets/banking-finance/pboc-seen-deploying-stimulus-soon-tariff-risks-cash-shortage

April 2, 2025

UK Seeks Tariff Deal with US Amid Economic Fears

The UK government is negotiating an economic deal with the US to avoid or mitigate potential tariffs, which could be announced by President Donald Trump. Finance Minister Rachel Reeves stated that discussions are ongoing with other countries and EU trade commissioner Valdis Dombrovskis. The UK aims to take a "clear headed" approach to shore up its struggling economy, as US tariffs could reduce the UK's GDP by 0.6% in 2026-2027. London may consider scrapping a tax on tech giants worth £800 million annually to secure a trade deal and avoid "posturing".

https://www.brecorder.com/news/40355691/uk-will-not-rush-into-action-on-tariffs

April 2, 2025

UK Warns Tariffs Could Jeopardize Trade Deal

UK Finance Minister Rachel Reeves warned that any US tariffs could jeopardize a good economic agreement, stating she wouldn't do anything to put it in jeopardy. Discussions are ongoing with the European Union over an "appropriate response," including EU trade commissioner Valdis Dombrovskis. The UK seeks a clear-headed approach to shore up its struggling economy, rather than posturing. A 20% US tariff could reduce the UK's GDP by 0.6% in 2026-2027, according to the Office for Budget Responsibility.

https://www.ndtv.com/world-news/wont-rush-into-action-over-impending-trump-tariffs-uk-finance-minister-8071786

April 2, 2025

Ukraine Seeks New Air Defense Amid US Influence Fears

The Ukrainian armed forces are exploring alternative air defense systems following a controversy surrounding a meeting between US President Donald Trump and Ukrainian President Volodymyr Zelensky at the White House, which led to concerns about potential US influence over Ukraine's military procurement decisions.

https://www.fakti.bg/en/world/961143-lithuania-transfers-six-air-defense-systems-to-ukraine

April 2, 2025

US Announces Tariffs in 'Liberation Day' Move

The US is set to announce tariffs on its trading partners, dubbed "Liberation Day," which could lead to a global trade war. The proposed tariffs, initially suggested as matching other countries' levies, have sparked uncertainty among investors and analysts, with estimates suggesting average tariff rates could range from a few percentage points to double-digit levels. Economists warn that this could harm economic growth, consumers, and markets, while Chinese tech giant Xiaomi's stock rose in Hong Kong after it reported a slight recovery from a previous day's fall. The US President has promised a "golden age" for US industry, but officials are still ironing out the details of the tariffs, which are set to come into effect on Thursday.

https://www.firstpost.com/world/asian-stocks-fluctuate-as-trumps-tariff-announcement-nears-13876505.html

April 2, 2025

US Approves $5.58B F-16 Sale to Philippines

The US has approved a $5.58 billion sale of F-16 fighter jets to the Philippines, backing its ally amid rising tensions with China. The deal includes 20 jets and related equipment for the Philippines, a treaty-bound ally of the US.

https://www.manilatimes.net/2025/04/03/news/national/us-approves-558b-fighter-jet-sale-to-ph/2084791

April 2, 2025

US Approves $5.6B F-16 Sale to the Philippines

The US Department of State has given its approval for a potential $5.6 billion sale of F-16 fighter jets to the Philippines, with conditions that the cooperation should not target any third party, undermine regional interests, or threaten regional peace and stability.

https://www.globaltimes.cn/page/202504/1331399.shtml

April 2, 2025

US Senators Target Russia with Sanctions Package

A bipartisan group of US senators, including Alberto Nardelli, Jamie Tarabay, and Natalia Drozdiak, has introduced a sanctions package targeting Russia and countries that buy its oil if President Vladimir Putin refuses to engage in good-faith ceasefire negotiations with Ukraine or breaches an eventual agreement.

https://news.bloomberglaw.com/esg/bipartisan-group-of-senators-readies-new-sanctions-to-hit-russia

April 2, 2025

US Slams India's High Tariffs on Dairy Goods

The US and India are set to negotiate trade agreements sector-by-sector virtually. The US has criticized India for being a "worst offender" in trade, citing high tariffs on American products such as dairy and agricultural goods. India's average tariff rate is 17%, with rates ranging from 39% for agricultural goods to 113.1% for certain products. The US has raised concerns over India's sanitary and phytosanitary-related trade barriers, intellectual property rights, and digital services taxes. In response, India has begun talks on a Bilateral Trade Agreement and reduced tariffs on some items. However, the US is expected to impose tariffs if India does not address these concerns, with China and Canada having already retaliated in the past.

https://www.thehindu.com/news/national/12-hour-countdown-to-us-reciprocal-tariffs-what-to-expect/article69403268.ece