Author: Anadolu Agency

Kazakhstan said Thursday that a “significant part” of its exports to the US are not subject to the recent reciprocal tariffs imposed by the US on the country. On Wednesday, US President Donald Trump announced a minimum of 10% tariffs on imports from all countries, to become effective from April 5, with tariffs on goods from the European Union set at 20%. Trump described his decision as a “declaration of economic independence,” stating it would help the US return to its “golden age.” “A preliminary analysis of the new trade measures taken by the American side showed that a significant…

Global markets came under pressure on Wednesday following US President Donald Trump’s announcement of reciprocal tariffs, as Washington’s protectionist trade policies impact the world economy. Reciprocal tariffs ranging from 10% to 50% were imposed on products that the US imports from many of its trading partners. The EU received 20%, China 34%, Vietnam 46%, Taiwan 32%, Japan 24%, India 26%, South Korea 25%, Thailand 36%, Switzerland 31%, Indonesia 32%, Malaysia 24%, Cambodia 49%, South Africa 30%, Bangladesh 30%, and Israel 17% in reciprocal tariffs. Some countries, such as Türkiye, the UK, Brazil, Australia, the United Arab Emirates, New Zealand, Egypt,…

Ukrainian Economy Minister Yulia Svyrydenko on Thursday said the reciprocal tariffs imposed by the US on Kyiv are “difficult, but not critical.” On Wednesday, US President Donald Trump announced a minimum of 10% tariffs on imports from all countries to be effective from April 5, with tariffs on goods from the European Union set at 20%. Trump said his decisions were a “declaration of economic independence” and will help the US return to its “golden age.” He also addressed an appeal to all foreign leaders “who will soon be calling to ask for exceptions to these tariffs.” “What do the…

Industrial producer prices in the eurozone rose at their fastest pace in two years, climbing 3% year-on-year in February, driven primarily by surging energy costs, according to data released on Thursday. Energy prices soared 7.4% compared to the previous year, accelerating from a 3.4% increase in January, according to figures from Eurostat. Price rises for intermediate goods also accelerated on an annual basis, rising to 0.9% in February from 0.5% in the previous month. Across the European Union, industrial producer prices rose 3.1% year-on-year in February. On a monthly basis, producer prices climbed 0.2% in the eurozone and 0.3% across…

Hungary on Thursday announced that it has decided to exit the International Criminal Court. According to the decision, announced by Premier Viktor Orban’s Chief of Staff Gergely Gulyas, the withdrawal process from The Hague-based court will start today. The decision is in line with the country’s constitutional and international legal obligations, he argued. The news follows the arrival of Israeli Prime Minister Benjamin Netanyahu in the country for a four-day official visit. Netanyahu’s visit to Hungary marks the first time he has set foot on European soil since the ICC issued an arrest warrant for him last November over accusations…

The head of the European Parliament’s International Trade Committee sharply criticized US President Donald Trump’s announcement of a new 20% tariff on goods from the European Union late Wednesday as part of his long-promised vow to impose reciprocal tariffs on nations worldwide. “While President Trump might call today ‘Liberation Day,’ from an ordinary citizen’s point of view, this is ‘Inflation Day,'” Bernd Lange said in a statement. “These unjustified, illegal and disproportionate measures can only lead to further tariff escalation and a downward economic spiral for the US and the world as a whole.” Lange warned that the new tariff…

Polish Prime Minister Donald Tusk Thursday criticized the newly imposed US tariffs. “Friendship means partnership. Partnership means truly mutual tariffs. Appropriate decisions are needed,” Tusk wrote on X. US President Donald Trump announced a minimum of 10% tariffs on imports from all countries to be effective from April 5, with tariffs on goods from the European Union at 20%. Trump said his decisions were a “declaration of economic independence.” The tariffs will remain in place until Trump “determines that the threat posed by the trade deficit and underlying nonreciprocal treatment is satisfied, resolved, or mitigated,” according to a White House…

French Prime Minister Francois Bayrou warned on Thursday about the dangers posed by US President Donald Trump’s decision to impose heavy import taxes on foreign-made goods. “This decision is a catastrophe for the economic world. It is a huge challenge for Europe. I believe it is also a catastrophe for the United States and for American citizens,” Bayrou said on the sidelines of a conference at the French Senate, according to the broadcaster BFMTV. Bayrou said protectionist policies could have severe long-term consequences. “The idea that each of the world’s major regions will close in on itself and that trade…

Fitch Ratings said Thursday that tariff rates announced by the US on Wednesday raised the country’s import penalties to their highest since 1909. The international credit rating agency noted in a statement that a minimum 10% tariff and higher tariff rates were introduced for 57 US trading partners, and pointed out that the “Liberation Day” tariffs sharply exceeded rates assumed in the “Global Economic Outlook” report published last month. “The country-specific rates allow for the exclusion of sectors where product-specific tariffs remain under discussion, for example for semiconductors, pharmaceuticals, copper and lumber,” it said. It noted that the growth of…

Hungary on Thursday announced that it has decided to exit the International Criminal Court. According to the decision, announced by Premier Viktor Orban’s Chief of Staff Gergely Gulyas, the withdrawal process from The Hague-based court will start today. The decision is in line with the country’s constitutional and international legal obligations, he argued. The news follows the arrival of Israeli Prime Minister Benjamin Netanyahu in the country for a four-day official visit. Netanyahu’s visit to Hungary marks the first time he has set foot on European soil since the ICC issued an arrest warrant for him last November over accusations…