Author: Anadolu Agency

UN Secretary-General Antonio Guterres urged the international community Thursday to increase support for Myanmar following last week’s devastating earthquake. He called for immediate humanitarian assistance and a political solution to the ongoing crisis in that country. “This disaster has laid bare the deeper vulnerabilities facing people throughout the country,” Guterres said at a news conference at UN headquarters in New York. “Myanmar today is the scene of utter devastation and desperation.” Guterres said the earthquake, which hit parts of Southeast Asia, including Thailand, had exacerbated an already dire situation in Myanmar as it grapples with political turmoil and humanitarian challenges.…

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 President Volodymyr Zelensky outlined Kyiv’s “red lines” on Thursday for the upcoming peace talks on the ongoing Russia-Ukraine war. During a meeting with territorial community leaders in northern Ukraine’s Chernihiv region, Zelensky emphasized that maintaining the country’s army size would be a top priority in the negotiations. “To be honest, we will do everything to leave the army in the same state in terms of numbers that it is today. A large army, which is three times larger than at the beginning of the war. An army that can only be modernized,” Zelensky said. He added that Ukraine would…

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…

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…

Annual consumer inflation in the Organization for Economic Cooperation and Development (OECD) area eased to 4.5% in February from 4.7% in January, according to data released on Thursday. Inflation declined in 15 of the 38 OECD countries and remained stable or broadly unchanged in another 15. However, eight OECD countries saw inflation rise, with notable increases exceeding 1.0 percentage point in Estonia and Norway. OECD energy inflation dropped to 3.6% in February from 4.0% in January, with declines in 23 member countries, while 12 saw increases. Food inflation remained constant at 4.4% across the OECD, though prices rose in 24…

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…

The US on Thursday underlined that NATO member states should spend up to 5% of their gross domestic product on defense. In doorstep remarks at a meeting of NATO foreign ministers in Brussels, Secretary of State Marco Rubio said: “(The) ground war in the heart of Europe is a reminder that hard power is still necessary as a deterrent, and so we do want to leave here with an understanding that we are on a pathway, a realistic pathway to every single one of the members committing and fulfilling a promise to reach up to 5% (of GDP) of spending.”…

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…

Italian Prime Minister Giorgia Meloni said Thursday that the EU should not respond with retaliatory tariffs to the decision by the US to impose levies on worldwide imports. “I am not convinced that the best choice would be to respond to tariffs with other tariffs because the impact could be worse on our economy,” she told TV RAI. “We need to open a frank discussion with the Americans with the objective, in my view, to achieve the removal of the tariffs, not to multiply them.” US President Donald Trump announced tariffs late Wednesday on goods imported from foreign countries, roiling…