Wednesday, April 30

Tag: Donald Trump

7Apr By AdminsNo Comments

‘Reset global trade’: Trump officials double down on tariffs as global markets plummet

Top Trump administration officials are offering mixed messaging on the possibility of negotiations on the president's newly announced tariffs, framing the move as a necessary economic reset and downplaying severe market volatility and uncertainty. President Donald Trump has long cast himself as a dealmaker — and has left the door open to cutting tariff deals with countries. But messaging from his top economic lieutenants Sunday painted a murkier picture about the possibility of relief. Trump last week announced tariffs of at least 10 per cent across all countries, with rates going even higher for 60 countries deemed the "worst offenders." The universal 10 per cent rate went into effect Saturday, while the customized rates will take effect Wednesday. President Don...
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7Apr By AdminsNo Comments

ASX recovers but $100 billion still wiped out

The Australian Stock Exchange recovered slightly after a massive opening loss of $160 billion today, but has still lost $100 billion for the day as of about midday AEST. The ASX 200 fell 6.4 per cent to a 16-month low of 7177.3 after the exchange opened at 10am. At about noon, it was down 3.7 per cent at 7383.1, rebounding from that low. There are fears the ASX could face another wipeout today. (Getty) Mining companies and the big four banks were among the biggest drops, which came even after the ASX-200 opened at a 100-day low of 7453.90. Asian markets also plunged today, deepening a global stocks rout triggered by US President Donald Trump's trade war. Japan's benchmark Nikkei fell by more than eight per cent shortly after opening. The share average, ...
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29Mar By AdminsNo Comments

Vance accuses Denmark of underinvesting in Greenland as Trump presses for US takeover of the island

US Vice President JD Vance said on Friday that Denmark has "underinvested" in Greenland's security and demanded that Denmark change its approach as President Donald Trump continues to talk of taking over the Danish territory. The pointed remarks came as Vance visited US troops on Pituffik Space Base on the mineral-rich, strategically critical island. "Our message to Denmark is very simple: You have not done a good job by the people of Greenland," Vance said. Vice President JD Vance, right, and second lady Usha Vance arrive at Pituffik Space Base in Greenland, Friday, March 28, 2025. (Jim Watson/Pool via AP) (AP) "You have underinvested in the people of Greenland, and you have underinvested in the security architecture of this incredible, beautiful landmass filled wi...
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22Mar By AdminsNo Comments

Trump signs executive order to dismantle the US Education Department

US President Donald Trump has signed an executive order calling for the dismantling of the federal Education Department, advancing a campaign promise to take apart an agency that's been a longtime target of conservatives. Trump has derided the Education Department as wasteful and polluted by liberal ideology. However, completing its dismantling is most likely impossible without an act of Congress, which created the department in 1979. Republicans said they will introduce a bill to achieve that. The department, however, is not set to close completely. The White House said the department will retain certain critical functions. US President Donald Trump holds up a signed executive order calling for the scrapping of the Education Department at the White House on Thursday...
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22Mar By AdminsNo Comments

Eyeing China threat, Trump announces Boeing wins contract for secretive future fighter jet

US President Donald Trump has announced Boeing will build the Air Force's future fighter jet, which the Pentagon says will have stealth and penetration capabilities that far exceed those of its current fleet and is essential in a potential conflict with China. Known as Next Generation Air Dominance, or NGAD, the manned jet will serve as quarterback to a fleet of future drone aircraft designed to be able to penetrate the air defences of China and any other potential foes. The initial contract to proceed with production on a version for the Air Force is worth an estimated $US20 billion ($AU31 billion). The 47th president, who announced the award at the White House with Defence Secretary Pete Hegseth and Air Force leadership, said with a grin that the new fighter would be named th...
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13Mar By AdminsNo Comments

Canada and EU swiftly retaliate against Trump’s steel and aluminium tariffs

Major trade partners have swiftly hit back at US President Donald Trump's increased tariffs on aluminium and steel imports, imposing stiff new taxes on US goods including products from textiles and water heaters to beef and bourbon. Canada, the largest steel supplier to the US said on Wednesday (early Thursday AEDT) it would place 25 per cent reciprocal tariffs on steel products and also raise taxes on a host of items: tools, computers and servers, display monitors, sports equipment, and cast-iron products. Across the Atlantic, the European Union will raise tariffs on American beef, poultry, bourbon, motorcycles, peanut butter and jeans Across the Atlantic, the European Union will raise tariffs on American beef, poultry, bourbon, motorcycles, peanut butter and je...
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