Author: Anadolu Agency

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,…

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…

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…

Tornadoes and powerful storms battered states in the South and Midwest US on Wednesday, destroying homes, knocking down power lines, and causing flash flooding in many areas. The National Weather Service (NWS) said the potentially deadly storms could last throughout the weekend. “More than 13 million people are currently in an NWS Tornado Watch with … several active Tornado Warnings as well,” NWS officials posted on X. The National Weather Service has issued at least two dozen tornado warnings and advised residents to take shelter immediately. “This is a very severe weather event,” continued the NWS. “If you are in…

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…

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…

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…

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…

A former US health and human services (HHS) secretary announced his candidacy for California governor Wednesday, setting up a potential showdown with former Vice President Kamala Harris in the 2026 race, The New York Times reported. Xavier Becerra, who served as HHS secretary under then-President Joe Biden as well as California attorney general and representing Los Angeles in Congress, said he would run no matter what Harris does. “What I can tell you with full confidence is, it doesn’t matter who gets in-I’m in,” he said. Harris, also a former state attorney general and failed 2024 presidential candidate, is considering…