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Trump defends policy after China fires US with 125% tariffs

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US President Donald Trump, on Friday insisted that his tariff policy was doing really well despite China hiking levies on US goods to 125 percent in the spiraling trade war between the world’s two biggest economies.

According to reports, investors dumped US government bonds, the dollar tumbled and stocks seesawed after Beijing’s retaliation against Trump deepened concerns on already traumatized global markets.

Recall that Trump sent financial markets into a tailspin by announcing sweeping import taxes on dozens of trade partners last week, only to abruptly roll them back to 10 percent on Wednesday for 90 days, while raising levies on goods from China.

“We are doing really well on our tariff policy. Very exciting for America, and the World!!! It is moving along quickly,” Trump said in a post on his Truth Social network.

Later, the White House said that Trump remained hopeful about a deal with China, adding that 15 other countries have offers on the table during his 90-day pause in their tariffs.

However, Press Secretary Karoline Leavitt reiterated that Trump made it very clear, when the United States was punched that he woul punch back harder.

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Trump says he thinks Putin is helping Iran

“I think he might be helping them a bit, yeah.”“I guess, and he probably thinks we’re helping Ukraine, right?”

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President Donald Trump on Friday said he believed that Russian leader Vladimir Putin is helping Iran in its war against the United States and Israel.

According to CNBC, Trump’s comment came in a radio interview with Fox News host Brian Kilmeade, and a week after the president lashed out at Fox News reporter Peter Doocy for asking him at the White House about reports that Russia was aiding Iran.

Kilmeade asked Trump on Friday: “You think Putin is helping them?”

Trump replied, “I think he might be helping them a bit, yeah.”“I guess, and he probably thinks we’re helping Ukraine, right?” Trump continued.

“Yeah, we’re helping them also,” Trump said, referring to Ukraine, which has been at war against Russia since being invaded in early 2022.

“So he [Putin] says that, and China would say the same thing, you know,” Trump told Kilmeade.

“It’s like, ‘Hey, they do it, and we do it, in all fairness,’ ” Trump said. “They do it, and we do it.”

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International

IEA agrees to release record 400 million barrels of oil to address Iran war supply disruptions

The IEA did not set out a timeline for when the stocks would hit the market

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Merchant ship on fire hits by Iran in Strait of Hormuz.

The International Energy Agency on Wednesday agreed to release 400 million barrels of oil to address the supply disruption triggered by the Iran war, the largest such action in the organization’s history.

The IEA did not set out a timeline for when the stocks would hit the market.

It said that the reserves would be released over a time frame that is appropriate to the circumstances of each of its 32 member countries.

IEA members are primarily advanced economies in Europe, North America and northeast Asia. The organization is tasked with maintaining global energy security.

It was founded in 1974 in response to the oil embargo imposed by Arab producers over U.S. support for Israel during the 1973 Arab-Israeli war.

(CNBC)

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International

Iran tells world to get ready for oil at $200 a barrel as it fires on merchant ships

The war unleashed with joint U.S. and Israeli air strikes nearly two weeks ago has so far killed around 2,000 people, mostly Iranians and Lebanese, as it has spread into ‌Lebanon and thrown global energy markets and transport into chaos.

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(REUTERS): Iran said the world should be ready for oil at $200 a barrel as its forces hit merchant ships on Wednesday and the International Energy Agency recommended a massive release of strategic reserves to dampen one of the worst oil shocks since the 1970s.

The war unleashed with joint U.S. and Israeli air strikes nearly two weeks ago has so far killed around 2,000 people, mostly Iranians and Lebanese, as it has spread into ‌Lebanon and thrown global energy markets and transport into chaos.

Despite what the Pentagon has described as the most intense airstrikes since the start of the war, Iran also fired at Israel and targets across the Middle East on Wednesday, demonstrating it can still fight back.

On Wednesday, three vessels were reported to have been hit in Gulf waters as Iran’s Revolutionary Guards said their forces had fired on ships in the Gulf that had disobeyed their orders.

While Israel’s Defence Minister Israel Katz said the operation “will continue without any time limit, as long as required, until we achieve all objectives and win the campaign,” Trump suggested the campaign would not last much longer.

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