Global Markets Plunge Following President Trump’s Sweeping Tariffs

Associated Press,

On April 2, 2025, U.S. President Donald Trump announced extensive tariffs, including a universal 10% levy on all imports and higher rates targeting specific countries such as China and the European Union. This announcement led to significant declines in global stock markets, with major indices experiencing their worst performance since the 2020 pandemic. Economists warn that these tariffs could exacerbate inflation and hinder economic growth, potentially leading to a global recession. International leaders have expressed strong opposition, with China’s Ministry of Commerce stating that the measures “seriously violate” international trade rules.

China Retaliates with 34% Tariffs on U.S. Goods

Reuters,

In response to the U.S. tariffs, China announced a 34% tariff on all American imports, effective April 10. This move escalates tensions between the world’s two largest economies and raises concerns about a prolonged trade war. The Chinese government emphasized that these measures are necessary to protect its economic interests and urged the U.S. to engage in dialogue to resolve the dispute. Analysts predict that this escalation could disrupt global supply chains and negatively impact industries ranging from technology to agriculture.

Britain and France Accuse Russia of Delaying Ukraine Ceasefire Efforts

Associated Press,

Britain and France have accused Russian President Vladimir Putin of stalling ceasefire negotiations in Ukraine amid renewed Russian attacks, including a deadly drone strike in Kharkiv that killed five civilians. NATO allies highlighted their frustration over Russia’s refusal to accept a U.S. proposal for a 30-day truce. Ukrainian officials emphasized the urgency of pressuring Moscow towards peace. Meanwhile, Russia continues to amass military strength, with over 600,000 troops in Ukraine and efforts to replenish lost military hardware. Western intelligence suggests Russia’s battlefield momentum enables strategic patience, while plans for a broad new Russian offensive are reportedly underway. Britain and France are helping organize a multinational coalition to enforce a potential future peace agreement. U.S. President Donald Trump and European leaders urge swift Russian commitment to ceasefire terms already accepted by Ukraine. Despite ongoing talks in Washington, Russia maintains a measured stance, citing the need for more time while continuing aggressive military actions in Ukraine.

Myanmar Earthquake Death Toll Surpasses 3,100 Amid Growing Humanitarian Crisis

Associated Press,

A devastating 7.7-magnitude earthquake struck central Myanmar on March 28, resulting in over 3,100 confirmed deaths and thousands injured. The disaster has exacerbated the dire conditions in a country already grappling with civil war, displacing approximately 3 million people prior to the quake, with nearly 20 million in need. Despite announced ceasefires by Myanmar’s military and resistance groups to facilitate aid, the U.N. reports continued military attacks, urging a complete halt and unimpeded humanitarian access. U.N. humanitarian chief Tom Fletcher is visiting the region to galvanize international support, while Secretary-General António Guterres urged immediate funding efforts. So far, the World Food Program has reached 24,000 survivors with plans to assist 850,000 for at least a month. International assistance includes search and rescue teams and medical personnel from numerous countries, and financial contributions from the UK and the U.S. Continued recovery work is ongoing, with recent rescues and body recoveries in key affected cities such as Naypyitaw and Mandalay. The earthquake also caused damage in neighboring Thailand, where 22 fatalities were reported.

South Korea’s President Yoon Suk Yeol Removed from Office

Associated Press,

South Korea’s Constitutional Court has upheld parliament’s impeachment of President Yoon Suk Yeol and removed him from office. This decision comes four months after Yoon declared martial law and deployed troops to parliament in an attempt to break legislative gridlock, actions that plunged the nation into political turmoil. The court’s ruling underscores the gravity of Yoon’s actions and sets the stage for a snap election to find a new leader. In the interim, Prime Minister Han Duck-soo will serve as acting president. The political upheaval coincides with escalating global tensions, including the recent U.S. tariffs, which are expected to overshadow the upcoming election and pose significant challenges for the nation’s leadership.