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Why Asian firms are not cheering Trump tariff ruling
Business

Asian firms struggle amid Trump tariff uncertainty

Supreme Court Ruling Adds Confusion Asian companies did not rejoice when the US Supreme Court last week struck down an important part of Donald Trump's Tariff Program. The US market was…

Canada's finance minister says US is unlikely to lift tariffs
BusinessUnited States

Canada Faces Ongoing US Tariffs

Francois-Philippe champagne, Canada's Finance Minister, said that Canada may have to pay a "baseline tariff" to export goods to the United States. He made these remarks after US President Donald Trump…

Aston Martin cuts 20% of workforce as losses widen
Business

Aston Martin Acts after Significant Losses

Aston Martin will cut its staff by 20% after a dramatic increase in loss. Net losses for the company increased by 52% to PS493.2 millions in 2025. Around 3,000 employees work…

Paramount boosts Warner Bros offer to rival Netflix in takeover bid
Business

Paramount raises offer to buy Warner Bros and challenges Netflix Deal

Paramount Skydance increased its offer to purchase Warner Bros Discovery in order to beat Netflix's initial bid. New proposal includes $31 in cash per share, plus additional payments should the deal…

Shein's elusive boss hails Chinese roots in rare public appearance
Business

Shein founder reaffirms China ties with Guangdong Investment of 10bn Yuan

This week, the founder of Shein appeared in public for the first time and delivered a strong message. The company is still closely tied to China. Xu Yangtian, speaking at a…

US East Coast Snowstorm Cancels thousands of Flights Snowstorms ravaged the US East coast Monday, affecting millions and causing more than 5,700 cancellations of flights. Snowfall records, power failures, and hazardous travel conditions were all part of the storm. Northeastern Snowfall is Historic Rhode Island, Massachusetts and Connecticut were the hardest hit. Providence, Massachusetts received 36 inches more snow than the 1978 record. Central Park in New York City received over 19 inches. National Weather Service reported that some parts of Rhode Island had received 37 inches or more snow. The weather warnings covered parts of the eastern Canada, from North Carolina up to Maine's northern coast. NWS meteorologist Candice hrencecin described the record-breaking snowfall as "shocking". Travel Bans and Hazardous Roads Massachusetts, Rhode Island, Connecticut and Connecticut have all banned travel that is not essential to the safety of their citizens. White-out conditions can make roads dangerous. Officials have warned residents of this danger. Some residents felt trapped and were unable to leave home for several days. During the ban on travel, New York City closed all highways, bridges and roads. The police investigated an incident wherein officers in Washington Square Park were attacked with snowballs.
BusinessWeather

US East Coast Snowstorm Cancels Thousands of Flights

A historic US east coast snowstorm hit the region on Monday, leaving millions of people stranded and grounding over 5,700 flights. From Rhode Island to New York, heavy snow, strong…

Trump's New Tariffs Start at Lower Rate Amid Confusion US President Donald Trump's new global tariffs have officially taken effect at 10%, lower than initially promised. The move comes after the Supreme Court blocked some of his broader import tax plans last Friday. Trump initially announced a 10% global tariff, then suggested it could rise to 15%. Official documents, however, show the rate started at 10% from Tuesday, with no immediate instructions to raise it. A White House official told Reuters that the administration is working to update the rate to 15%, but the timing remains unclear. Businesses Face Uncertainty Carsten Brzeski, an analyst at investment bank ING, said the rapid changes "add to the chaos and mess" for businesses. He warned that the risk of a full-scale trade war is now higher than last year. Trump’s executive order Friday stated the temporary 10% duty is meant to "address fundamental international payments problems and continue the Administration's work to rebalance trade relationships in favor of American workers, farmers, and manufacturers." The tariffs are being applied under Section 122 of the 1974 Trade Act, allowing the president to impose them for 150 days without Congress approval. Trade Deficit Concerns The president argues tariffs help reduce America’s trade deficit, which reached $1.2 trillion last year, up 2.1% from 2024. The US has already collected at least $130 billion in tariffs using the 1977 International Emergency Economic Powers Act (IEEPA). However, the Supreme Court ruled last Friday that Trump overstepped his authority with IEEPA-based tariffs. This raises the chance for businesses to claim refunds. FedEx has already filed for a "full refund" on taxes paid, and campaign group We Pay The Tariffs represents over 900 US companies demanding refunds. Experts doubt the government will return the money quickly, with Trump warning the matter could be contested in courts for up to five years. Justice Brett Kavanaugh called the refund process "likely to be a mess." Mixed Reactions from Businesses Fraser Smeaton, CEO of UK costume company Morph Costumes, said paying the 10% tariff instead of 20% is a relief. But uncertainty remains. His business imports products from China and exports to the US, and he has had to reserve funds in case of sudden tariff changes. Many companies, including his, are tracking payments to claim refunds on unlawful IEEPA tariffs. Smeaton asked, "The fact that we're at 10% rather than 20% is better, but will it stay that way?" The fast-changing tariff policies have left businesses scrambling to adapt, with potential global trade repercussions looming.
BusinessUnited States

Trump’s New Tariffs Start at Lower Rate Amid Confusion

US President Donald Trump's new global tariffs have officially taken effect at 10%, lower than initially promised. The move comes after the Supreme Court blocked some of his broader import…

US Supreme Court blocks Trump Tariffs; Asia faces new trade uncertainty The US Supreme Court has struck down many tariffs introduced by President Donald Trump in 2025. This ruling disrupts months of talks between Washington, key Asian allies and has added a layer of uncertainty in regional trade. Trump soon announced his plans to introduce new tariffs on imported goods of 15%. US Customs confirmed that they will stop collecting the duties related to earlier tariff measures. The sudden change in policy has forced Asian governments to rethink and review their current positions. Trade Deals Under Pressure In order to reduce tensions in the trade, several countries including India and Indonesia had been talking with Washington for months. Some countries pledged to invest billions in the US in order to get better terms. Now, the court's ruling casts doubts on those agreements. Analysts warn of high uncertainty despite the fact that 15 percent is a lower rate than previous rates. Adam Samdin, from Oxford Economics, said that the US government still wants to keep higher tariffs despite legal setbacks. He pointed out that recent trade deals lack the legal protections found in more traditional trade agreements. This leaves the door open for policy to be changed suddenly. Asian smaller economies might be cautious. The economic prospects of smaller Asian economies could be heavily dependent on Washington. Many governments will avoid confrontation and instead quietly explore alternatives. China reviews impact ahead of key meeting China also reviews the consequences of the decision. Beijing has confirmed that it will assess the potential impacts and the full content of this decision. The officials reiterated that they oppose unilateral tariff increases and warned against trade wars. This development occurs as China is preparing to host Trump at the beginning of April. Despite this legal setback US Trade Representative Jamieson Grer stated that he did not anticipate the ruling to have an impact on talks with Chinese president Xi Jinping. Greer said that the main focus will be to maintain stability, and ensure China keeps its existing commitments. This includes purchasing American agricultural products, and Boeing aircraft. What this Means to Asia Trade tensions have not been eliminated by the Supreme Court's decision, which changed Trump's legal basis for his tariff policy. The Asian countries must decide whether they want to negotiate new terms or wait for more clarity. They can also choose to strengthen their ties with trading partners. Markets may be volatile in the short-term as companies seek to understand future tariff structures. The ruling may have a long-term impact on how the United States negotiates and enforces trade agreements.
BusinessUnited States

US Supreme Court blocks Trump Tariffs; Asia faces new trade uncertainty

The US Supreme Court has struck down many tariffs introduced by President Donald Trump in 2025. This ruling disrupts months of talks between Washington, key Asian allies and has added a…

India and US defer trade talks after Supreme Courts tariff ruling
BusinessUnited States

India and US Postpone Trade Talks Following Supreme Court Ruling

India and the US postponed their trade negotiations this week to examine the implications of the recent US Supreme Court decision. The US Supreme Court ruled that the global tariffs of…

fans split as AI exec takes over Microsofts top gaming role
BusinessInformation Technology

Microsoft Gaming Executive Leads AI Future of Xbox Reaction from Fans

Microsoft announced that it would be making a significant change to its leadership in the gaming sector, leaving Xbox enthusiasts divided. Phil Spencer and Xbox President Sarah Bond, who have been…

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