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Financial markets around the world tumbled after President Trump on Wednesday announced a barrage of new tariffs, with U.S. stock futures pointing to a sharp drop when Wall Street opens for business.Roughly two hours before the start of trade at 9:30 a.m. ET, futures for the S&P 500 plunged 190 points, or 3.3%, while futures for the Dow Jones Industrial Average and the tech-heavy Nasdaq composite index sank 3% and 4%, respectively. Overseas markets also slumped in overnight trading. In Asia, Tokyo’s Nikkei 225 index briefly dipped 4%, with automakers and banks taking big hits, before closing down 2.8%, while South Korea’s benchmark Kospi fell 1.1%. In Europe, Germany’s DAX fell 1.7%, France’s CAC 40 in Paris lost 1.8% and Britain’s FTSE 100 shed 1.2%.Capital Economics said in a report that the investment advisory firm is “significantly downgrading” its forecast for the S&P 500 this year, citing Mr. Trump’s latest tariff salvo and investor concerns about underwhelming returns from AI to large U.S. tech firms.Gold prices briefly hit a record high at $3,167 before dipping as investors digested the impact of the White House’s escalating trade war. 

“Stocks are sliding in all markets as the world responds to Trump’s worse-than-expected (and absurd) trade war,” equity analyst Adam Crisafulli, head of Vital Knowledge, told investors in a research note.Mr. Trump said the U.S. would impose a 10% baseline tariff on all U.S. trading partners starting April 5. Four days later, the U.S. is also set to apply reciprocal tariffs on roughly 60 countries. Although U.S. markets drifted up on Wednesday as investors hoped for more restrained trade policies from the White House, reality is now biting amid concerns that the economy could stall and possibly tip into recession.”The Trump administration adopted a shock-therapy approach to tariffs, imposing very high tariffs on all its major trading partners.” analysts with Societe Generale said in a report on Thursday. 

They added, “These tariffs are undoubtedly worse than some of the worst-case scenarios envisioned earlier, both at the aggregate and economy-by-economy levels. This set of tariffs, if they persist, would very likely tip global trade into recession.”

The Associated Press

contributed to this report.

Miller Gardner, the youngest son of former New York Yankees outfielder Brett Gardner, died on March 21 at the age of 14 while on vacation with his family in Costa Rica.Carbon monoxide poisoning was the cause of death, authorities in Costa Rica confirmed on April 2. High levels of the toxic gas had been detected in testing of the family’s hotel room.Here is what we know about Miller Gardner’s death.What happened to Miller Gardner?Miller Gardner’s parents said in a statement that he died in his sleep after he and several other family members fell ill while vacationing. They did not elaborate on who else had gotten sick, what specific illness they were dealing with or what symptoms they had experienced.Where were the Gardners staying?The Gardners were vacationing at the Arenas Del Mar Beachfront & Rainforest Resort, which is along Costa Rica’s Pacific coast, some 50 miles south of San José.

“We are deeply saddened by this loss, and our hearts go out to the family during this incredibly difficult time,” the resort said in a statement on Tuesday, March 25. “The factors that led to this tragic incident are unknown, and we are fully cooperating with authorities as they investigate. We remain committed to supporting our guests and staff, prioritizing their well-being and safety, while respecting the privacy of those affected.”The resort also told CBS News that hotel staff responded to the incident according to protocol, saying: “The hotel staff dispatched a medical team immediately, including a licensed doctor, which arrived to handle the emergency situation. Any medical attention to the family was done by medical professionals. Our staff did not administer any medical treatment.”What are officials saying about the cause of death?Randall Zúñiga, director of the Judicial Investigation Agency, or OIJ, said on March 31 that investigators conducted testing in the hotel room where Gardner was staying and found high levels of carbon monoxide, which he said may have been caused by machinery in the room next door. The contamination they found led investigators to believe Gardner “may have died from inhaling these highly dangerous gases,” Zúñiga said.The cause of death was confirmed after Gardner was tested for carboxyhemoglobin, a compound generated when carbon monoxide binds to hemoglobin in the blood, according to Zúñiga. The test showed a carboxyhemoglobin saturation of 64%. Saturation is considered lethal when it exceeds 50%.

The head of Costa Rica’s judicial police also said that a “layer” was detected during the autopsy on Gardner’s organs. That layer forms due to a high presence of carbon monoxide.Carbon monoxide is an odorless gas produced by the burning of fossil fuels in equipment such as cars, furnaces, stoves, certain heaters and generators. Symptoms of carbon monoxide poisoning may include headache, dizziness, nausea, vomiting and confusion.Zúñiga said the investigation was “closely coordinated” with the FBI.The hotel told CBS News in a statement on March 31 that it was diligently cooperating with the Costa Rican judicial authorities, who have taken over the investigation.””We trust that the forensic process will objectively, clearly, and conclusively clarify the causes of this unfortunate incident,” the hotel said.The OIJ director had said it was conducting three types of analyses, including a toxicology report, at its forensic science laboratories.Why did early reports say the cause was food poisoning or “food intoxication”?Asphyxiation was initially thought to be the cause of death, although that theory was ruled out after an autopsy performed by the Forensic Pathology Section. An initial statement had said: “Preliminary reports indicate the cause of death is asphyxiation following possible food poisoning.” 

Some news outlets quoted a local official who cited possible “food intoxication,” but there is no condition by that name, and it appears in this context to have meant the same thing as food poisoning. Following the reports of possible food poisoning, Hotel La Mariposa, located less than a mile from where the Gardners were staying, released a statement to address what it called “misinformation circulating on social media.””The Gardner family dined at our restaurant, Le Papillon, on the afternoon of Tuesday, March 18, 2025—three days before Miller’s tragic passing. Any claims suggesting a link between our restaurant and this heartbreaking event are entirely false and unfounded,” the restaurant said. “Any news, statements, or claims to the contrary do not reflect the reality of the situation. Furthermore, we do not have any additional information, as the Gardner family did not stay at our hotel.” The hotel also extended its “heartfelt condolences to the Gardner family.”The Arenas Del Mar resort, where the Gardners were staying, said in a statement, “The family did not eat at any of Arenas Del Mar’s restaurants for lunch or dinner the previous day. Additionally, on March 14th, we had an inspection by the Health Ministry in which the hotel passed with a 98.5 out of 100.”What has the Gardner family said?In a statement before the cause of death was confirmed, Miller Gardner’s parents, Brett and Jessica Gardner, said they had “so many questions and so few answers.””Miller was a beloved son and brother and we cannot yet comprehend our life without his infectious smile,” they said. “He loved football, baseball, golf, hunting, fishing, his family and his friends. He lived life to the fullest every single day.””We are so thankful to all who have reached out to offer support and encouragement during this difficult time and we are confident our faith, family, and friends will help us navigate this unimaginable loss,” their statement continued. “Our prayers go out to Miller’s teammates and friends, as well as to all other families who have lost a child far too soon as we share their grief.”

An obituary posted online described Miller Gardner as an Honor Roll student who played football and baseball and loved traveling with his family.”The void Miller’s passing leaves in the hearts of his family, friends, teammates, teachers, coaches and others will be felt for years,” it said. “Miller’s time here with them was brief but his spirit will carry on forever through those who were impacted by the way he lived.” What have the New York Yankees said?The New York Yankees, where Brett Gardner played for 14 years, released the following statement after news of Miller Gardner’s death became public.”Our hearts are heavy, and the Yankees family is filled with grief after learning of the passing of Miller Gardner. Words feel insignificant and insufficient in trying to describe such an unimaginable loss. It wasn’t just Brett who literally grew up in this organization for more than 17 years — so did his wife, Jessica, and their two boys, Hunter and Miller. We grieve with Brett, Jessica, Hunter, and their community of family and friends in mourning the loss of Miller, who had a spark in his eyes, an outgoing and feisty personality, and a warm and loving nature.Our love for the Gardner family is unconditional and absolute, and we will offer our enduring support while understanding their desire for privacy at this time.May Miller rest in peace.”Who is Brett Gardner?Brett Gardner is a former baseball player who spent his entire professional career with the New York Yankees. Originally from North Carolina, he was initially drafted by the Yankees in 2005 and was first called up in 2008 before becoming a regular starter the following season. During his 14 MLB seasons, the outfielder won one World Series in 2009, earned an All-Star appearance in 2015 and a Gold Glove Award in 2016.As a rookie, Gardner scored the final run in the old Yankee Stadium in 2008, which was replaced the following year.His final season was in 2021.

The Associated Press

contributed to this report.

Democratic and Republican lawmakers are criticizing Donald Trump’s latest tariff policy reveal which prompted global stocks to fall sharply and for the US dollar to hit a six-month low on Thursday.Senate minority leader Chuck Schumer took to X and wrote: “54% tariffs on China, 10% tariffs on Iran, 0% tariffs on Russia,” adding a questioning emoji at the end.Meanwhile, Cory Booker, the New Jersey Democratic senator who broke record this week for delivering the longest speech in Senate history against Trump’s Republican agenda, posted news headlines of several Republican senators joining Democrats in voting to undo Trump’s Canada tariffs.“This is what happens when people speak up,” Booker wrote.Brian Schatz, the Democratic Hawaii senator, said: “I’ve never seen a president ruin the economy on purpose.”In response, the Democratic Connecticut senator Chris Murphy said: “This is the thing to understand. It’s all on purpose. Creating chaos and crisis.”The Republican Kentucky senator Rand Paul, who co-sponsored a bipartisan measure to undo Trump’s Canada tariffs, wrote on X: “The tariffs that Trump detailed Wednesday mark the most significant U.S. protectionist trade action since the 1930s, when Congress imposed tariffs on more than 20,000 goods and dug the U.S. economy deeper into the Great Depression.”The World Trade Organization chief told member states on Thursday that it had received “many” questions about the impact of US president Donald Trump’s tariffs on trade and would respond to their questions, according to a letter.“Many of you have been in touch about the US announcement on tariffs, asking for the Secretariat to provide an economic analysis of the impact of these tariffs and any potential reaction on your trade,” director-general Ngozi Okonjo-Iweala wrote in a letter to ambassadors dated 3 April and seen by Reuters.“As we are a member-driven organization, the Secretariat will be responding to your questions,” she said, suggesting that states also discuss the issues with each other.European Union member states are set to vote on Wednesday April 9 on countermeasures to the United States’ steel and aluminum tariffs, a senior EU official, said on Thursday.The Commission’s proposal will be passed as long as it is not opposed by a qualified majority of 15 member states representing 65% of EU population.US secretary of state Marco Rubio and the Trump administration’s new envoy to Nato are seeking to reassure wary Nato allies of the US commitment to the alliance.Rubio on Thursday decried “hysteria and hyperbole” in the media about president Donald Trump’s intentions despite persistent signals from Washington that Nato as it has existed for 75 years may no longer be relevant, AP reports.Rubio and newly confirmed US ambassador to Nato Matt Whitaker are in Brussels for a meeting of alliance foreign ministers at which many are hoping Rubio will shed light on US security plans in Europe.“The United States is as active in Nato as it has ever been,” Rubio told reporters as he greeted Nato chief Mark Rutte before the meeting began. “And some of this hysteria and hyperbole that I see in the global media and some domestic media in the United States about Nato is unwarranted.”“President Trump’s made clear he supports Nato,” Rubio said. “We’re going to remain in Nato.”“We want Nato to be stronger, we want Nato to be more visible and the only way Nato can get stronger, more visible is if our partners, the nation states that comprise this important alliance, have more capability,” he said.Donald Trump has unveiled his global tariffs on US trading partners including 10% on UK exports to the US, 20% on the EU and 34% on China.However, the US’s closest trading partners, Canada and Mexico, have been exempt from the latest round of tariffs.Wherever you are in the world, we’d like to hear how you might be affected by the tariffs.What preparations or changes are you making to your business? Do you have any concerns?Donald Trump announced sweeping tariffs on some of its largest trading partners on Wednesday, upending decades of US trade policy and threatening to unleash a global trade war on what he has dubbed “liberation day”.Trump said he will impose a 10% universal tariff on all imported foreign goods in addition to “reciprocal tariffs” on a few dozen countries, charging additional duties on to countries that Trump claims have “cheated” America.The 10% universal tariff will go into effect on 5 April while the reciprocal tariffs will begin on 9 April.Developing nations in south-east Asia, including war-torn and earthquake-hit Myanmar, and several African nations are among the trading partners facing the highest tariffs set by Donald Trump.Upending decades of US trade policy and threatening to unleash a global trade war, the US president announced a raft of tariffs on Wednesday that he said were designed to stop the US economy from being “cheated”.“This is one of the most important days, in my opinion, in American history,” said Trump on Wednesday. “It’s our declaration of economic independence.”He hailed the moment as “liberation day”, but the tariffs are likely to be met with loud protests from some of the world’s weakest economies. One expert said Trump was likely to be targeting countries that receive investment from China, regardless of the situation in that country. Chinese manufacturers have previously relocated to countries such as Vietnam and Cambodia not only due to lower operating costs, but also to avoid tariffs.The tariffs comes as many countries in south-east Asia are already grappling with the fallout from the cuts to USAid, which provides humanitarian assistance to a region vulnerable to natural disasters and support for pro-democracy activists battling repressive regimes.Hello and welcome to the US politics live blog. I’m Tom Ambrose and will be bringing you all the latest news lines over the next few hours.We start with the news that Donald Trump’s decision to slap a 10% tariff on most goods imported to the United States, as well as higher duties on dozens of countries from rivals to allies, has intensified a global trade war that threatens to stoke inflation and stall growth.The sweeping duties announced against the serene backdrop of the White House Rose Garden on Wednesday immediately unleashed turbulence across world markets and drew condemnation from other leaders now faced with the end of decades of trade liberalization that have shaped the global order.Meanwhile, several Republican senators joined Democrats to pass a resolution that would block Donald Trump’s tariffs on Canada, a rare rebuke of the president’s trade policy just hours after he announced plans for sweeping import taxes on some of the country’s largest trading partners.In a 51-48 vote, four Republicans – Susan Collins of Maine, Lisa Murkowski of Alaska and both Kentucky senators, the former majority leader Mitch McConnell and Rand Paul – defied Trump’s pressure campaign and supported the measure. Democrats used a procedural maneuver to force a vote on the resolution, which would terminate the national emergency on fentanyl Trump is using to justify tariffs on Canada.“Tariffs will hurt our families. Canada is not an enemy,” the Democratic senator Tim Kaine, the bill’s sponsor, said in a floor speech on Wednesday. “Let’s not label an ally as an enemy. Let’s not impose punishing costs on American families at a time they can’t afford it. Let’s not hurt American small businesses. Let’s not make our national security investments in ships and subs more expensive.”Read the full report here:In other news:

Despite a 10% tariff levied on all goods imported from the United Kingdom, British leaders say the United States remains the UK’s “closest ally”.

Trump told his inner circle that Elon Musk will be taking a step back from the Trump administration, Politico reports. According to the outlet, both Musk and Trump have agreed “that it will soon be time for Musk to return to his businesses and take on a supporting role”.

National security adviser Mike Waltz’s team has regularly set up group chats on Signal to coordinate official work on various global issues from different parts of the world including Ukraine, China, Gaza, Middle East policy, Africa and Europe, Politico reports. According to four people who have been personally added to the chats and who spoke to the outlet, sensitive information was discussed in the chats.

A US judge on Wednesday dismissed the federal corruption case against New York City mayor Eric Adams, adding that the charges cannot be brought again. US district judge Dale Ho’s decision to dismiss the case with prejudice was in line with the recommendation of a lawyer he asked to offer independent arguments, but contrary to the justice department request for a dismissal without prejudice, Reuters reports.

Spanish prime minister Pedro Sánchez criticised the “unprecedented” US tariffs calling them out as a return to “19th-century protectionism,” as he proposed a new €14.1bn package to support the economy in response to Trump’s move.He also said that Europe should deploy a package of counter-tarrifs and other measures in response, and set up an aid fund financed from revenues from tariffs imposed on the US in return.In a particularly punchy comment, reported by Reuters, Sánchez said that Europe now faces a trade attack from the West, just as it responds to a military attack from Russia in the East.The Spanish prime minister is still speaking, and we will bring you more from him soon.Let’s bring you some more comments from Spanish prime minister Pedro Sánchez’s speech earlier.He said Spain would move past “this unfair and unjustified crisis into which some people have decided to plunge the world” and would not allow itself to be “dragged into zero-sum-game thinking or into a way of seeing the world that is guided by fear, disinformation and short-termism”.In a final rebuke to Trump, he added:
“We will continue to push for a just distribution of wealth, for environmental sustainability and for equality between men and women.
We will keep working for European integration, we will keep defending multilateralism, we will keep opening ourselves to the world, and we will keep looking for partners who respect our interests and who also share our values.”
Micheál Martin gets asked specifically about the potential problems for the country’s pharmaceutical industry (13.50).He says his government needs to “maintain engagement” with US officials to “convey the complexity of the pharmaceutical story,” as he points out that Ireland operates “as part of a complex supply chain” with “physical infrastructure” that is “not easily relocatable overnight.”He warns there is “a real danger of undermining your own companies, the US companies, by proceeding precipitously or in a premature way.”He also is asked about proposals to introduce a European digital services tax.“We do not favour a digital services tax,” he says, adding that the EU’s response needs to be “considered … measured,” and “one that is clearly calculated and calibrated not to bring more damage upon the European economy and European citizens.”“The desired outcome is negotiations between the US and the European Union,” he says.And that concludes their press conference.Elaborating on the EU’s planned response to US tariffs, EU commissioner McGrath expands a bit by saying the focus is on “on preventing the harm rather than responding to the harm.”“We’re still in a scenario where we’re looking at potential [harm], and while sentiment is immediate and uncertainty has immediate impacts, the direct impact of tariffs is something that will take some time to work its way through the system,” he says.He also pushes back against Sánchez’s suggestion to create an EU aid fund for companies affected, saying it is “premature.”“When you talk about an EU fund, there aren’t many potential sources of funding. Is it additional member state contributions? Is it new own resources? Is it collective borrowing? Is it reallocation of resources from one part of the budget to another? So we’re not in that space, because our focus is on negotiations,” he says.Martin and McGrath also get asked about Netanyahu’s visit to Hungary earlier.The Irish prime minister Martin says he is “concerned about trends within Hungary”, as he says “there are procedures there in term of dealing with member states who we believe have either transgressed the rule of law or are not really behaving in the full spirit of EU unity”.“We’ve fully supported the ICC. We’ve provided significant funding, additional funding above any per capita contribution to the ICC. International rule of law is extremely important, and Ireland will continue to adhere to it,” he says.Commissioner McGrath speaks in a similar vein, adding that “the concerns that we have in the Commission about rule of law related issues [in Hungary] are well documented.“Unfortunately, this is another retrograde step from the Hungarian authorities. Let’s see what happens over the period ahead,” he says.After his comments on protection jobs and the economy, Irish prime minister Martin gets asked if there are any plans to offer support to businesses affected.He says that “it is somewhat early yet to be talking in terms of support”, as he adds: “I think this is not the end of the story.”“My view is that there will be a period of engagement. So we have to see where this settles. And every crisis is different. So the kind of supports that were in the previous crises may not apply in this case, I think,” he says.He then gets pressed on whether Ireland will face a recession.“I think we it’s important that we take in on board that this, I think, has some distance to go yet. And we don’t yet have a clear settled pattern as to what the permanent situation will be there is no,” he says.“There is no doubt that we the world has changed, and the old order … is gone, but the new order hasn’t yet been precisely determined. In other words, I anticipate negotiations,” he added.He says the tariffs will “impact every member state”, and expresses broader concerns about the worsening economic environment.“The world, the business people, and investors want certainty, stability, predictability, they don’t have that at the moment. And that’s my overarching concern,” he says.Speaking after Martin, EU commissioner McGrath says the EU’s response will be “very carefully calibrated,” but the EU is “ready to negotiate” with the US.He offers a helpful data-backed estimate on the exact impact of the measures announced by Trump:
The current provisional estimate is that, overall, about €380bn of EU exports will be subject to the additional tariffs.
That comprises of approximately €290bn subject to the so called reciprocal tariffs. €26bn subject to US Section 232 tariffs on steel and aluminum and €67bn euro subject to US Section 232 tariffs on cars and car parts.
This would represent, overall, around 70% of all exports to the US being subject to new tariffs that have been announced yesterday and indeed in recent days, which would result in around €80bn euro in additional duties on EU exports to the United States.
Irish prime minister Micheál Martin is speaking at a press conference in Dublin right now, alongside EU justice commissioner (and former Irish finance minister) Michael McGrath.He says:
Ireland believes in open and free trade, and that the imposition of tariffs is bad for the world economy.
I deeply regret the United States decision to impose 20% tariffs on imports from across the European Union. We see no justification for this.
He adds Ireland will work with EU partners to “reflect” how to respond, and stressed that any response would have to be “considered and measured.”“Now is a time for dialog, and I believe that a negotiated way forward is the only sensible one. A confrontation is in no one’s interests,” he adds.But he admits that “there is no doubt that the imposition of tariffs by the US will have an adverse impact,” saying the focus will be on protecting jobs and the economy.
“It is important that we focus on factors that we can control, including improving our competitiveness and investing in infrastructure.
By working with Irish-owned companies, with multinationals based here, with our European Union partners, and bilaterally with the United States, we can and will weather this storm.”
European Commission chief Ursula von der Leyen is to meet pharma leaders next Tuesday amid fears that Trump is not yet finished on his “rebirth” project and is highly likely to introduce further tariffs.“We do expect further measures. We do fear and suspect that pharmaceuticals is next,” said a senior EU official on Tuesday.It means Ireland, which Trump accused of stealing the US’s pharma industry, is not yet out of the woods and could be hit by a double whammy of reciprocal tariffs and sectoral tariffs on medicine exports.The EU’s fears are based on the US administration’s listing of five sectors as strategically important to the country with tariffs only imposed on two so far: aluminium and steel; and cars. This leaves lumber, pharma and semiconductors still on the table.“They have identified pharma and semiconducts as strategic for manufacturing to the US … We believe that the likelihood is quite high, so we would be quite unsure whether one could breathe a sigh of relief that pharma was not hit yesterday,” said an official.There are 90 pharma plants in Ireland run by US giants and others exporting everything from Viagra, Botox, Accuvue contact lenses to cancer, arthritis and cardio drugs, accounting for €44bn of the country’s €72bn exports to the US.The US buys another €14bn worth of medical related products such as surgical equipment and devices like stents.Donald Trump’s tariff plan could undermine the Brexit deal between the EU and the UK for trading arrangements in Northern Ireland, a highly sensitive agreement designed to maintain the 1998 peace pact.As part of the president’s attempt to spur on a “rebirth” of the US, Trump has imposed a two-tier tariff rate on the island of Ireland – with a 20% tax on exports from the republic but a 10% rate on the UK including Northern Ireland.A former EU commissioner has questioned whether Trump thought through his plan’s effect on the peace process brokered by the US almost 30 years ago.Although it could put Northern Ireland at an advantage over the Republic of Ireland for exports such as whiskey and dairy produce, a political problem could arise if the EU retaliates with like-for-like tariffs of 20% on US imports.Under the Windsor framework, the EU tariffs will apply in Northern Ireland, creating a manufacturing price difference between Northern Ireland and Great Britain for any important components from the US.European stock markets have had a rough morning.Banks and miners have fallen on fears of an economic downturn. Luxury goods stocks are also lower, an anticipation that their exports to the US will be hurt by new tariffs.Here’s the situation at 1pm CEST, or midday BST:

FTSE 100: down 130 points or -1.5% at 8477 points

Germany’s DAX: down 496 points or 2.2% at 21,894 points

France’s CAC: down 195 points or 2.5% at 7,662 points.
For more reactions, follow our Business live blog with Graeme Wearden:Polish prime minister Donald Tusk said the introduction of new US tariffs “may reduce the Polish GDP by 0.4%,” with losses estimated at around €2.4bn.“A severe and bitter blow, because [it comes] from our closest ally, but we will survive it. Our friendship must stand the test,” he said in a social media post.Poland exports goods worth €11.6bn to the US, according to most recent Eurostat data.Spain’s prime minister, Pedro Sánchez, has lambasted Donald Trump’s “protectionist” tariffs against EU products, saying they run “contrary to the interests of millions of citizens on this side of the Atlantic and in the US, who will unfortunately see their businesses and their purchase power” affected by the measures.In an strongly worded and defiant speech in Madrid on Thursday morning, the socialist leader said the “wrongs of one leader” should not be allowed to impede majority progress, adding that Spain and the EU would use Trump’s “trade war” to become stronger.“This tariff attack from the US administration does not distinguish between friends and enemies,” he said. “It does not distinguish between ideologies and trade balances. It goes against everyone and everything.”Sánchez said it was simply not correct top say that the EU had put tariffs of 39% on US products. “That’s not true,” he said. “In fact, if we take a proper look at the figures, the EU only applies tariffs of around 3%, depending on the case … And it isn’t true that our commercial relationship is unequal: the trade balance between the EU and the US in goods and services is almost even.”As a result, said Sánchez, the tariffs announced by Trump were not reciprocal but were instead an excuse for “punishing countries and applying a sterile protectionism” in an effort to mitigate the US deficit.“No one will benefit from this,” he said. “No one. A trade war will affect everyone – Europe included – but it will most affect the person who’s unleashed it. That is why we once again call on President Trump to reconsider and to sit at the negotiating table with the EU and the rest of the world.”Sánchez described the tariffs as an “unprecedented” and “unilateral” US attack on Europe, adding: “Returning to the protectionism of the 19th century isn’t a smart way of tackling the challenges of the 21st century.”While Europe’s hand would always be outstretched to its friends in the US, Sánchez added: “That doesn’t mean that we’re going to sit here with our arms crossed. The EU must react in the way the Spanish government has always supported: proportionately; in a unified manner and with the strength we have as an extraordinary trade bloc and the primary global trade bloc.”Sánchez said the EU needed to speed up the integration of the single market when it came to regulations, digital services and financial flows. He said it also needed to grow and diversify its commercial links with the rest of the world, and roll out the package of counter-tariff measures that the EU had been working on for months.“The Spanish government will not wait around to see what happens in the coming days and weeks,” he said. “We will respond, as we always do, in an anticipatory manner so that we’re ready.”The prime minister announced a €14.1bn “response and commercial relaunch plan” designed to mitigate the “negative impacts of the trade war unleashed by the Trump administration” and protect the Spanish economy.If the predicted storm came, he added, “Spain will have a double umbrella: European and Spanish”.The package of measures will include €7.4bn in new financing, and the rest will come from existing instruments such as soft loans, he said.Sánchez compared the plan to his government’s efforts to tackle the economic fallout of the Covid pandemic, saying it would focus on protecting businesses and jobs through the provision of credit and financing lines.“It’s obvious that there’s no point in me pretending – and nor would I – that the situation isn’t complicated and difficult,” he said.He added:
“The trade war unleashed by President Trump is dire news for the world, for the US, for Europe and for Spain. In Europe, if we look to the east, we see attacks from an evermore belligerent Russia. And now we’re seeing a trade attack coming from the west. No one in Europe or in Spain is going to be immune to these attacks. But that doesn’t mean that we’re going to stop growing or progressing. It doesn’t mean that at all.”
Hungarian prime minister Viktor Orbán is now speaking at a joint press conference with Israeli prime minister Benjamin Netanyahu.Opening the meeting, Orbán offers more detail on Hungary’s reasoning behind its plans to withdraw from the international criminal court in The Hague in the Netherlands.Noting that he originally signed the document confirming Hungary’s accession to the ICC in 2000, he says the Hungarian government is “convicted that this become a political court” with its biases and “motivated by political intentions.”“I do believe that this otherwise very important court was diminished into a political forum, and we do not wish to have any parts in it,” he said, confirming plans for legislation to formally withdraw from the Rome Statute.Responding, Netanyahu calls it a “bold and principled decision” as he says “it is important to stand up to this corrupt organisation.”For more context, read this story from Jon Henley:The Israeli prime minister doesn’t stop there as he speaks of “a deep friendship, a deep alliance” between Hungary and Israel, ranging from investment, technology, defence and even sports.“But I would say that our cooperation goes deeper than that, because I believe we are fighting a similar battle for the future of our common civilization, our Judeo-Christian civilisation,” he says, positioning Israel and Hungary against “radical Islam” represented by Iran and “its proxies.”“We will smash the Iranian terror axis, which threatens not only us, but Europe and many of our neighbours in the Middle East,” he says.They don’t take questions.EU trade commissioner Maroš Šefčovič said he will speak with US counterparts on Friday as part of the bloc’s response to last night’s announcements.In a social media post, he said:
Unjustified tariffs inevitably backfire.
We’ll act in a calm, carefully phased, unified way, as we calibrate our response, while allowing adequate time for talks. But we won’t stand idly by, should we be unable to reach a fair deal.
I’ll speak to my U.S. counterparts tomorrow.

Reynolds says he is now opening a consultation on possible retaliatory tariffs.
It remains our belief that the best route to economic stability for working people is a negotiated deal with the US that builds on our shared strengths.
However, we do reserve the right to take any action we deem necessary if a deal is not secured.
To enable the UK to have every option open to us in future, I am today launching a request for input on the implications for British businesses of possible retaliatory action. This is a formal step necessary for us to keep all options on the table.
We will seek the views of UK stakeholders over four weeks until 1 May 2025 on products that could potentially be included in any UK tariff response.
This exercise will also give businesses the chance to have their say and influence the design of any possible UK action.
Reynolds stresses that retaliatory tariffs are only an option, and that the government still wants an economic deal instead.
If we are in a position to agree an economic deal with the US that lifts the tariffs that have been placed on our industries, this request for input will be paused, and any measures flowing from that will be lifted.
Reynolds says further information about the consultation will be on the gov.uk website later today.Business groups have strongly welcomed the government’s decision not to announce immediate retaliatory tariffs against the US, but to instead keep talking to the US about a trade deal that might lead to tariffs being removed. One organisation, the CBI, even adopted Keir Starmer’s language about being “cool and calm”. (See 9.06am.)This is what three of the leading business groups are saying.From Rain Newton-Smith, CEO at the CBI
Today’s announcements are deeply troubling for businesses and will have significant ramifications around the world.
A cool and calm reaction from the UK government is the right response: UK firms need a measured and proportionate approach which avoids further escalation. Retaliation will only add to supply chain disruption, slow down investment, and stoke volatility in prices.
From Emma Rowland, trade policy adviser at the Institute of Directors
The implementation of these ‘Liberation Day’ tariffs will be a blow to British businesses, eliminating any hopes that the UK would be able to avoid the crosshairs of the global trade war …
The UK government has so far sought to pursue constructive engagement with the US administration and with other trading partners. We are supportive of this pragmatic and level-headed approach. The UK benefits from being an open trading nation, with strongly integrated international links. The IoD support the government’s efforts to sustain the position of UK exporters in an increasingly fragmented global economy.
From Shevaun Haviland, director general of the British Chambers of Commerce
The government has kept a cool head so far and must continue to negotiate. This is a marathon not a sprint, and getting the best deal for the UK is what matters most.
But no-one will escape the fallout from these decisions, there will be an increased risk of trade diversion, and it will wreak havoc on businesses communities across the world.
Severin Carrell is the Guardian’s Scotland editor.John Swinney, Scotland’s first minister, has pledged to “stand shoulder to shoulder” with Scottish firms facing the 10% import tariffs proposed by President Trump.He told MSPs during first minister’s questions he will meet Scotch Whisky Association officials in New York in coming days, when he takes part in the annual Tartan Week celebrations there, to discuss “the very significant issues” facing the sector.Swinney was questioned by Russell Findlay, the Scottish Conservative leader, over the Scottish government’s “short sighted” decision to cancel an export strategy devoted to US trade last year.The first minister sidestepped that specific point but insisted Scotland’s enterprise and export agencies were heavily engaged in promoting trade with the US, while Scottish ministers were closely cooperating with the UK government.Scottish whisky producers sold nearly £1bn worth of produce in the US last year, roughly a fifth of the sector’s overall production, while Scottish salmon producers exported £225m last year to the US.Swinney said:
The imposition of tariffs isn’t good news. It will be damaging for economic activity in Scotland, the UK, but also across the world and there will also be negative implications for the people of the United States.
I can assure Mr Findlay that this government will leave no stone unturned to make sure it can take forward the concerns of industry and work with the UK government.
At the Labour local elections launch this morning Keir Starmer strongly played down any suggestion that the Online Safety Act would be watered down as part of a UK/US economic deal – while not quite saying it would not feature at all. (See 12.38pm.) It has been reported that the UK could be offering a review of the legislation. (See 10.49am.)At the Downing Street lobby briefing the PM’s spokesperson delivered a similar message – saying “basic protections” were not up for negotiaton. He said:
We’ve said previously our Online Safety Act is all about protecting children online, making sure what is illegal offline is illegal online. The technology secretary has reiterated that our basic protections for children and vulnerable people are not up for negotiation. That remains the government’s position.
Here is Guardian video of Keir Starmer giving his response this morning to the Trump tariffs announcement.Bobby Dean (Lib Dem) says when US rightwingers talk about freedom of speech, they mean they want US tech companies to continue to be free to impose harmful content on children. He asks Reynolds to rule out the Online Safety Act being part of UK/US economic deal.Reynolds urges MPs “not to invent problems that don’t exist”. He says the talks with the US are focused on “goods and services in the main”.Back in the Commons Lisa Smart (Lib Dem) asked Reynolds if the government would cut the digital services tax (DST) as part of its economic deal with the US.Reynolds said he would not discuss the specifics of the negotiations. But he went on:
Making sure any tech company – not just a US tech company, any tech company – pays a fair rate of taxation in the UK for the economic activity that they have in the UK is something all parts of the British government are committed to, and [Smart] doesn’t need to be worried about that.
I would just say that there’s always going to be, in any discussion, a lot of issues that need to be dealt with, and in the main, those are trade issues.
I understand there’s all kinds of speculation. Speculation isn’t always correct, and I would just ask all colleagues to bear that in mind, understand we can’t publicly, in a negotiation like this, share every single aspect of it.
But if she’s worried about US companies, or any tech companies paying the right rate of tax in the UK, I can tell that’s something we’re deeply committed to.
In the Commons Blake Stephenson (Con) says the Trump tariffs will make “everyone poorer”. He says it is noteworthy that Reform UK MPs “have not bothered to turn up to share in our disappointment”.Reynolds agrees, saying he is right to note the “conspicuous absence” of Nigel Farage and his colleagues.Ben Quinn is a senior Guardian reporter.Keir Starmer has accused Reform UK of “fawning over Putin” as the prime minster used Labour’s local elections launch to turn maximum fire on Nigel Farage’s party over foreign relations and the NHS.In a sign of how Labour views Reform as potentially a greater threat than the Tories, Starmer devoted more time to hitting out at Reform than at the Conservatives.Labour chose a Derbyshire county council area voted the worst in Britain for potholes as location for the launch, during which Starmer accused the Tory-controlled local authority of being responsible for potholes and anti social behaviour.But Starmer spared most of his ammunition for Reform, listing the rightwing voting record of the party’s MPs on workers rights and its position on the NHS.“They claim to be the party of patriotism. I’ll tell you this, there’s nothing patriotic about fawning over Putin,” he said, during a speech and a Q&A with reporters where he used the phrase “fawning over Putin” three times.The US tariff announcement is difficult for Reform UK because the party, and its leader, Nigel Farage, are closely identified with Donald Trump, and Trump was deeply unpopular with British voters (including Reform UK supporters) even before yesterday. The tariffs will probably make him ever more toxic.Reform does not seem to have issued any statement on the tariffs announcement last night.But this morning Farage posted this on social media.
10% tariffs from the USA are bad news, but better than 20% for EU members.
If the Tory government had delivered quickly on Brexit we would have had a free trade deal years ago.
This deal is still achievable.
Ed Davey, the Lib Dem leader, responded with this.
If you’re such good mates with Trump, how about you pick up the phone and tell him to drop the tariffs?
The US hit countries they have trade deals with too. But we can always count on you to play the loyal sidekick to the bully Trump.
Munira Wilson (Lib Dem) asks Reynolds to refuse to water down “in any way, shape or form” the Online Safety Act.Reynolds says his talks with his US counterpart have not covered this issue.And he says the US “is not seeking to make our children unsafe”. He goes on:
I think sometimes the Liberal Democrats are inventing problems to try and propose that they are the solution to them. This is a conversation about trade, and I think it’s just vitally important we keep it in that important and appropriate terms.

SOFIA, Bulgaria — Bulgaria’s government on Thursday survived a parliamentary vote of no-confidence brought by a pro-Russia political party over what it called a failure in the nation’s foreign policy.The motion by the Vazrazhdane party, backed by two small nationalist groups, criticized the government’s pro-Western stance, its support for Ukraine and the ongoing sanctions on Moscow.The move was defeated in a 150-54 vote against the motion in the 240-seat parliament. The government’s coalition Cabinet is led by the center-right GERB party.Before the vote, analysts predicted the outcome, citing that a majority supports Bulgaria’s pro-European orientation. The country has been a member of the European Union since 2007.“For Vazrazhdane, the vote is a tool to amplify Russian narratives in the hybrid war against Bulgaria — a war Moscow wages with disinformation and subversive political tactics,” political analyst Ilian Vassilev said.GERB condemned the no-confidence motion as an attempt to derail Bulgaria’s desire to adopt the euro currency at the beginning of 2026, which would consolidate its European integration.Speaking to the media after the vote, Prime Minister Rosen Zhelyazkov said that it has “confirmed Bulgaria’s European perspective and democratic development, which is what most of the Bulgarian people want.”

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Please enter a valid email address. Having trouble? Click here.World leaders across the globe are reacting to President Donald Trump’s “Liberation Day” tariff announcements, with some expressing disappointment and others making threats. On Wednesday, the president announced a baseline tariff of 10% on imports, in addition to reciprocal tariffs based on what each nation imposes on U.S. goods.Trump believes these tariffs will incentivize foreign investment in the U.S. and spur domestic job growth.While several U.S. allies articulated their frustration with the tariffs, they also expressed a lack of interest in launching trade wars. Many called for negotiations with the U.S. for new trade agreements.  US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled “Make America Wealthy Again” at the White House in Washington, D.C., on April 2, 2025. (Getty Images)TREASURY SECRETARY BESSENT TELLS COUNTRIES NOT TO RETALIATE AFTER SWEEPING ‘LIBERATION DAY’ TARIFFSEuropean Commission President Ursula von der Leyen called the tariffs a “major blow to the world economy.” Von der Leyen said in a statement that there would be “countermeasures,” though she did not specify what they would entail.Meanwhile, China’s Foreign Ministry said that “there are no winners in trade wars and tariff wars,” according to the Associated Press (AP). Additionally, according to Reuters, Beijing is also planning to take “countermeasures.” Trump has taken an especially tough approach to China, which was already hit with a 20% tariff earlier this year. China will now face a 34% reciprocal tariff in addition to the 10% baseline imposed on all listed nations. Trump shakes hands with Japanese Prime Minister Shigeru Ishiba in the Oval Office of the White House on Feb. 7, 2025. (Getty Images)FRANCE ASKS US TO BE ‘COOPERATIVE’ INSTEAD OF ‘CONFRONTATIONAL’ FOLLOWING TRUMP’S ‘LIBERATION DAY’ TARIFFSJapanese Prime Minister Shigeru Ishiba said the tariffs would have a “great impact” on U.S.-Japan relations and the global economy, according to the AP. He vowed that the Japanese government would work to “decisively protect people’s lives, jobs and industries.”Despite being subject to one of the lowest reciprocal tariffs at just 10%, Australian Prime Minister Anthony Albanese said his country would negotiate with the Trump administration to remove the tariffs.”We will not join a race to the bottom that leads to higher prices and slower growth,” Albanese said, according to Reuters.Canada and Mexico are exempt from the reciprocal tariffs for now, but they face a 25% tariff on goods, with Canada also being slapped with a 10% energy tariff. While Canadian Prime Minister Mark Carney vowed to “fight these tariffs with countermeasures,” Mexican President Claudia Sheinbaum said her country would announce a “comprehensive program” on Thursday, according to Reuters. Britain’s Prime Minister Keir Starmer, left, and Trump speak during a joint press conference in the East Room at the White House on Thursday, Feb. 27, 2025, in Washington.  (Carl Court/Pool Photo via AP)When speaking to reporters, U.K. Prime Minister Keir Starmer did not criticize Trump, rather he said that the U.S. president was acting on “his mandate.” However, he also said that “nothing is off the table.” The prime minister assured that his government is working to make “an economic prosperity deal” with the U.SCLICK HERE TO GET THE FOX NEWS APPIsraeli Prime Minister Benjamin Netanyahu announced on Tuesday that his country would preemptively lift all tariffs on U.S. goods. However, Trump still announced a 17% reciprocal tariff on Israel. Israeli Finance Minister Bezalel Smotrich said his office was “analyzing the implications for the economy.” Smotrich also said that he would meet with the Finance Ministry to discuss possible responses. 

VILNIUS, Lithuania — Lithuania’s political and religious leaders joined thousands of people on Thursday to bid farewell to four American soldiers who died during a training exercise in the Baltic nation.President Gitanas Nausėda and other dignitaries were among those who stood in respect as hearses carried the bodies of the four young Americans to Vilnius airport before being flown to the United States for burial.Many of the onlookers were in tears, and Nausėda said that the reaction of the population and the military to the disappearance of soldiers was rooted in Lithuania’s own difficult history.“For us, it is more than a duty, it is an emotion. We have experienced trials in our history and therefore we understand well what loss is, what death is, what honourable duty is,” Nausėda said in a speech to those gathered.Schoolchildren accompanied by teachers waved Lithuanian and U.S. flags to honor the soldiers, who died in an accident along NATO’s eastern flank, a region that is on edge due to Russia’s aggression in nearby Ukraine.Leading one group was Justin Boyd, the secondary school principal of the American International School in Vilnius, who said his group was there “to honor the fallen soldiers from the United States and to honor the relationship between Lithuania and America and the defensive pact that represents.” “It’s important for us to give dignity to the fallen and to let the families know that we are with them and we support them in this time,” Boyd said.The soldiers, part of the 1st Armored Brigade Combat Team, 3rd Infantry Division, were on a tactical training exercise when they and their vehicle went missing a week ago, the Army said. Lithuanian, Polish and U.S. soldiers and rescuers searched through the forests and swamps at the Gen. Silvestras Žukauskas training ground in the town of Pabradė, 6 miles (10 kilometers) west of the border with Belarus. The M88 Hercules armored vehicle was pulled from a peat bog Monday and the final body was recovered Tuesday.“I feel sorry for these young men,” said one mourner from the town of Pabradė as he watched the hearses make their way towards the airport. “I live nearby, and I know that swamp. Dangerous places for anyone who enters that area.”The U.S. Army has identified the soldiers as Staff Sgt. Troy S. Knutson-Collins, 28, of Battle Creek, Michigan; Staff Sgt. Jose Duenez Jr., 25, of Joliet, Illinois; Staff Sgt. Edvin F. Franco, 25, of Glendale, California; and Pfc. Dante D. Taitano, 21, of Dededo, Guam. About 3,500 soldiers from the 1st Armored Brigade Combat Team deployed in January to Poland and the Baltic states for a nine-month rotation as part of Operation Atlantic Resolve, which supports NATO allies and partners following Russia’s invasion of Ukraine in 2022.___AP Video reporter Siarhei Satsiuk contributed reporting.

VADUZ, Liechtenstein — Tiny Liechtenstein’s public radio broadcaster is to disappear from the airwaves on Thursday after voters decided to pull state funding and the government was unable to find a way to privatize it.Radio Liechtenstein said on its website that it would cease broadcasting at 6 p.m. Thursday. “After nearly 30 years as a radio station in the principality, the voice of Liechtenstein is bowing out of the ether,” it said.In a referendum in October, 55.4% of those who voted decided to scrap legislation that granted state funding to Radio Liechtenstein at the end of 2025. The initiative came from a small opposition party, which argued that the station was swallowing more than 70% of state funding for the media, giving it an unjustified advantage against private media, and that it should be privatized. It had been slated to get public funding totaling 3.95 million Swiss francs (nearly $4.5 million) over a four-year period.The government, which had argued before the referendum that the chances of privatization were questionable because a private radio station in the tiny country would struggle to generate enough advertising income, said on Tuesday it had become clear that it was “not feasible” to privatize the station by the end of the year. There was no “concrete takeover offer from private investors with all the associated commitments,” it said, and no political agreement to extend the deadline for the end of public funding, so the station would likely have to close in the year’s first half.Radio Liechtenstein had an average 11,400 daily listeners in 2021, the last year for which figures were available.Liechtenstein is a principality of about 39,000 people that borders Switzerland and Austria.

BEIJING — China has detained three Philippine nationals on suspicion of spying, the government and state media reported, as the countries’ relations deteriorate. The three were found to have handed over “sensitive material” about China to a Philippine contact, the official Xinhua News Agency reported Thursday, citing an anonymous official from China’s Ministry of State Security. Xinhua reported that the three had confessed to the charges against them while the case remains under investigation. “China vows strict action against foreign espionage,” Xinhua said. The three could not immediately be reached for comment. The arrests came after Filipino authorities recently apprehended several Chinese nationals suspected of carrying out espionage activities in the Philippines.Relations between China and the Philippines have taken a sharp downturn as President Ferdinand Marcos Jr. strengthens relations with the U.S., China’s main competitor. China’s Foreign Ministry lashed out at the Philippines on Wednesday after Manila expressed concern over Chinese military exercises around Taiwan, the island China claims, which sits just north of the Philippines. “We urge certain people in the Philippines to refrain from making provocations and playing with fire on the Taiwan question, and those who play with fire will perish by it,” a Chinese Foreign Ministry spokesperson said Wednesday. The Philippines has also been bulking up its military, mainly in response to territorial disputes with China in the South China Sea. The U.S. has prospectively approved selling 20 F-16 aircraft to the Philippines, along with hundreds of medium-range, air-to-air missiles, bombs, anti-aircraft guns and ammunition, in a deal worth $5.58 billion.The Chinese Embassy in Manila issued a travel advisory on Tuesday saying Chinese citizens face higher security risks “considering the recent unstable public security situation in the Philippines and growingly frequent harassment of Chinese citizens and businesses.”