Author: ALJAZEERA

Boeing’s setback boosts competitiveness for rivals Airbus and COMAC in China.China has reportedly ordered its airlines not to take any further deliveries of Boeing jets in response to United States President Donald Trump’s decision to impose 145 percent tariffs on Chinese goods. Bloomberg News, citing people familiar with the matter, reported the development on Tuesday. The global aerospace industry is in the middle of a full-blown tariff war, with planemakers, airlines and suppliers reviewing contracts worth billions of dollars, after US supplier Howmet Aerospace ignited a debate over who should bear the cost of the tariffs. China’s top three airlines…

Chinese police add three alleged NSA agents to a wanted list over ‘advanced’ attacks.Police in the northeastern Chinese city of Harbin have accused the National Security Agency (NSA) of the United States of launching “advanced” cyberattacks during the Asian Winter Games in February, targeting essential industries. They added three alleged NSA agents to a wanted list while also accusing the University of California and the Virginia Polytechnic Institute and State University of being involved in the attacks after carrying out investigations, according to a report by state news agency Xinhua on Tuesday. It did not specify how the two US…

Markets fall after rebounding earlier this week as US-China trade war escalates, threatening global supply chains.

Throughout the past few weeks, United States President Donald Trump has announced a series of tariff policies, with shifting statements that have led to growing concerns about global economic instability. With Trump’s tariffs affecting nearly every country, many terms have been thrown around to describe the potential results. From trade wars to stock market drops, this article explains, in simple terms with illustrations, what these key terms mean, including those that may become more important in the coming months. 1. Tariff Tariffs are simply taxes imposed at the border by one country on the goods of a foreign country. They…

United States consumer sentiment plunged in April, marking the fourth month in a row of declines – widely seen as a pointed reaction to President Donald Trump’s escalating trade wars, which have fuelled concerns over potential job losses and rising inflation. The preliminary reading of the University of Michigan’s closely watched consumer sentiment index, released Friday, fell 11 percent in March to 50.8 percent, the lowest since the depths of the COVID-19 pandemic. Over the past year, sentiment tumbled 34 percent. The decline was “pervasive and unanimous across age, income, education, geographic region, and political affiliation”, Survey of Consumers director…

Fashion brand Prada has agreed to buy its smaller rival Versace for $1.38bn from Capri Holdings, bringing together two of the biggest names in Italian fashion and the prospect of enhanced revenues. The deal was announced on Thursday. Prada is seeking to expand, having defied a slowdown in luxury demand, while Versace has been operating at a loss in recent quarters. Owning Versace, with its bold, baroque-style prints, will bring new customers to Prada, known for its minimalist style. “There are no overlaps in terms of creativity, in terms of customers,” said Lorenzo Bertelli, marketing director and a member of…

On April 2, 2025, President Donald Trump declared a 10 percent tariff on all imports, effective on April 5, with additional country-specific tariffs set to commence on April 9. ​The announcement sent shockwaves through the global economy, triggering the worst two-day loss in United States stock market history. On Thursday and Friday alone, $6.6 trillion in value was wiped out before markets closed for the weekend. After a slight recovery on Tuesday, stocks fell once again on Wednesday as President Trump’s new tariffs on imports from dozens of countries took effect, including a steep 104 percent tariff on goods from…

The United States Department of Justice has announced it plans to pare back its investigations into cryptocurrency fraud, instead redirecting those resources towards immigration enforcement, terrorism and drug trafficking. In a memo late on Monday, Deputy Attorney General Todd Blanche quoted President Donald Trump’s pledge to “end the regulatory weaponization” of the cryptocurrency industry. “The Department of Justice is not a digital assets regulator,” Blanche wrote. “The Justice Department will no longer pursue litigation or enforcement actions that have the effect of superimposing regulatory frameworks on digital assets.” Instead, Blanche explained that Trump regulators in other departments would enforce financial…

President Trump threatens additional 50 percent tariff on China, as Beijing pledges to fight trade salvoes ‘to the end’.US stocks have mostly closed lower after a day of wild swings in the market, as investors scrambled to make sense of United States President Donald Trump’s tariff plans. The benchmark S&P 500 and Dow Jones Industrial Average on Monday fell 0.23 percent and 0.91 percent, respectively, racking up a third consecutive day of losses. The tech-heavy Nasdaq Composite finished slightly up, rising 0.099 percent. The dip followed a day of volatile trading, with unfounded reports that Trump was considering a 90-day…

United States President Donald Trump has brushed off the market turmoil caused by his sweeping tariffs, likening the measures to “medicine” as panicked investors continued a massive sell-off of global stocks. “I don’t want anything to go down but, sometimes, you have to take medicine to fix something,” Trump told reporters on board Air Force One on Sunday. “We have been treated so badly by other countries because we had stupid leadership that allowed this to happen. They took our businesses, they took our money, they took our jobs.” Digging in on his so-called “reciprocal tariffs”, Trump said he would…