Donald Trump announced reciprocal tariffs on imports from America’s trading partners, as well as a “minimum baseline tariff” of 10%. He said he would impose levies of 34% on China, 20% on the European Union, 24% on Japan and more. Those duties, which include the baseline tariff, come in addition to previously announced 25% tariffs on auto imports, due to take effect on Thursday.
Britain’s business secretary said its government would “remain calm”; the EU said it would issue a statement later. Markets reacted more dramatically. In after-hours trading S&P 500 futures fell by more than 3% and NASDAQ-100 futures slumped 4.2%. The share prices of Apple and Nvidia, both of which rely on semiconductors from Taiwan, fell by 7% and 4.5%.
Myanmar’s junta announced an immediate temporary ceasefire in its civil war against rebel groups to support the relief effort after last week’s earthquake. The alliance of groups battling the junta called such a truce shortly after the disaster, but the country’s ruling generals continued air strikes, to international dismay. The junta said the pause would last until April 22nd.
Tesla delivered fewer than 337,000 cars in the first quarter of 2025, far below the nearly 387,000 it delivered during the same period last year. BYD, a Chinese firm, recently overtook Elon Musk’s carmaker as the world’s biggest electric-vehicle firm by sales. Consumers have boycotted Tesla over Mr Musk’s support for Donald Trump; competition from established carmakers and Chinese firms is growing, too.
South Africa’s parliament passed a budget framework without the support of the second-biggest party. The Democratic Alliance, the African National Congress’s main coalition partner, opposed a rise in value-added tax. Smaller parties helped the ANC pass the budget by 194-182. The DA, which has 22% of seats to the ANC’s 40%, is concerned about South Africa’s public finances and lack of growth.
Denmark’s prime minister, Mette Frederiksen, arrived in Greenland amid Donald Trump’s growing calls for America to take over the island. Ms Frederiksen, who will meet the self-governing Danish territory’s incoming prime minister, said she wanted to strengthen her government’s ties with the island, noting the “great pressure” being applied on it. J.D. Vance, America’s vice-president, visited Greenland last week.
Turkey’s government accused opposition figures of launching a “coup attempt” against the economy by calling for a day-long shopping boycott. The move was the latest protest against last month’s arrest of Ekram Imamoglu, mayor of Istanbul and opposition rival to President Recep Tayyip Erdogan. Turkish authorities have arrested more than 2,000 people since the demonstrations began.
Figure of the day: 29%, the share of Republican voters who view the EU as “unfriendly” or “an enemy”, according to our YouGov polling. Read the full story.
We now publish our mini crossword, with a choice of straight or cryptic clues based on the headlines, twice a week. Try the latest puzzle. And check back on Saturday for another challenge.