The International Monetary Fund (IMF) has slashed South Korea's economic forecast for 2025 to 2%, citing growing political instability and an uncertain global trade environment. The downgrade is attributed to the US administration's aggressive tariff policies, including a 25% tariff on steel, aluminum, and automobiles imposed as of April 4. This move was expected to have a significant impact on Korea's small, open economy, which heavily relies on exports. The IMF also downgraded China's growth forecast from 4.6% to 4%, citing the limited effectiveness of large-scale fiscal spending policies in offsetting the negative effects of US tariffs.
https://koreajoongangdaily.joins.com/news/2025-04-22/business/economy/IMF-halves-Koreas-growth-forecast-to-1-as-instability-persists/2291206Russian President Vladimir Putin proposed bilateral talks with Ukraine, and Ukrainian President Volodymyr Zelenskiy expressed willingness to discuss a halt to attacks on civilian targets, indicating Kyiv's eagerness for a ceasefire.
https://www.asiaone.com/world/putin-says-he-open-direct-peace-talks-ukraineA Chinese analyst has criticized the US for ignoring the actual development situations of many developing countries, distorting trade deficit reasons, and imposing unilateral tariffs that deprive these countries, particularly those in the Global South, of their rights to development.
https://www.globaltimes.cn/page/202504/1332640.shtmlUkrainian President Volodymyr Zelensky has stated that the Ukrainian delegation participating in talks with France, the UK, Germany, Ukraine, and the US in London will have the authority to negotiate both a full or partial ceasefire.
https://www.ukrinform.net/rubric-polytics/3984865-ukrainian-delegation-in-london-will-have-mandate-to-discuss-ceasefire-zelensky.htmlUkrainian President Volodymyr Zelensky plans to hold talks with world leaders, including Cyril Ramaphosa of South Africa, Andrzej Duda of Poland, and Petr Pavel of the Czech Republic, in the coming days. He will meet with Ramaphosa as the current G20 chair, attend a meeting with Duda at the Three Seas Summit in Poland, and have a separate meeting with Spanish Prime Minister Pedro Sanchez. Zelensky also announced participation in a London meeting with France, the UK, Germany, Ukraine, and the US, and will visit South Africa in April for a meeting with Ramaphosa.
https://www.ukrinform.net/rubric-polytics/3984869-zelensky-announces-upcoming-meetings-with-presidents-of-south-africa-poland-czechia.htmlWorkers at high-end UK car manufacturers may face job losses within weeks due to US President Donald Trump's trade tariffs. The Society of Motor Manufacturers and Traders (SMMT) warns that firms like Rolls-Royce, Bentley, Aston Martin, and McLaren cannot afford to lose "highly talented people" and will avoid job cuts if possible. The International Monetary Fund (IMF) predicts global trade disruption and uncertainty due to the tariffs, which could slow economic growth worldwide. If efforts to secure a US trade deal or implement a new furlough scheme fail, job losses are expected by summer, according to Stephen Phipson, head of Make UK.
https://www.dailymail.co.uk/news/article-14635773/Trump-trade-tariffs-UK-job-loses-summer-Starmer.htmlThe International Monetary Fund (IMF) has downgraded its growth forecasts for several countries due to the impact of US tariffs on global trade. The IMF expects China's economy to be significantly affected, with a big chunk of the hit offset by government spending. In contrast, the European Union is forecast to grow more slowly but will face lower US duties than China. Germany's economy is expected to expand despite higher government spending, while Japan's growth has been marked down to 0.6% this year and next. The IMF warns that global financial stability risks have increased significantly, with stock and bond prices remaining high despite recent market volatility triggered by US President Trump's tariffs.
https://globalnews.ca/news/11142826/imf-global-growth-forecast-slows-trump-tariffs/US President Donald Trump has failed to secure concessions from Russian President Vladimir Putin to halt his troops in Ukraine since returning to office three months ago. Despite promising a deal within 24 hours, Trump hopes for a peace agreement "this week" but there are no signs of progress. Kremlin spokesman Dmitry Peskov warned against rushing into a ceasefire, calling it too complex for a quick fix. Meanwhile, Putin's aide Yuri Ushakov expects US businessman Donald Witkoff to visit Moscow this week, marking his fourth trip since Trump took office. The conflict has resulted in around a fifth of Ukrainian territory being occupied and tens of thousands of deaths.
https://www.brecorder.com/news/40358965/us-envoy-to-visit-moscow-as-us-pushes-for-ceasefireChina has expressed its willingness to work with the EU to counter US tariffs, following tensions between the two nations. China's openness to cooperation is seen as a crucial step in preserving diplomatic stability when conflicts arise.
https://www.the-star.co.ke/news/2025-04-21-ruto-eyes-rail-road-funding-in-china-trip