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    Anonymous

    Michaeltem

    06 Jun 2025 - 03:52 pm

    How Trump changed his mind on tariffs

    +2
    Peter Nicholas, Garrett Haake and Carol E. Lee
    Reporting from Washington
    mgmarket7.at
    “Liberation Day” gave way to Capitulation Day last night.

    President Donald Trump pulled back yesterday on a series of harsh tariffs targeting friends and foes alike in an audacious bid to remake the global economic order.

    Image: President Donald Trump
    Saul Loeb / AFP - Getty Images
    Trump’s early afternoon announcement followed a harrowing week in which Republican lawmakers and confidants privately warned him that the tariffs could wreck the economy. His own aides had quietly raised alarms about the financial markets before he suspended a tariff regime that he had unveiled with a flourish just one week earlier in a Rose Garden ceremony.
    mgmarket1.at
    The stock market rose immediately after the about-face, ending days of losses that have forced older Americans who’ve been sinking their savings into 401(k)s to rethink their retirement plans.

    Read the full story here.

    32m ago / 12:55 PM GMT+3
    Sharesocial share icon trigger
    China's foreign ministry calls the U.S. a '21st century barbarian'

    Peter Guo

    Reporting from Hong Kong

    China's public language on its trade war with the U.S. has become increasingly bellicose and took a new turn today when Beijing's foreign ministry said the Trump administration's tariffs have made the U.S. a “barbarian of the 21st century.”

    Trump’s tariffs will “never America great again” ministry of foreign affairs spokesperson Huang Jingrui, wrote in an open letter today in Hong Kong’s newspaper South China Morning Post.
    mgmarket
    “A tariff-wielding barbarian who attempts to force countries to call and beg for mercy can never expect that call from China,” Huang said, adding that the U.S. is “obsessed with the art of bullying and blackmailing the entire world.”

    47m ago / 12:40 PM GMT+3
    Sharesocial share icon trigger
    EU welcomes 90-day tariff pause

    Peter Guo

    The EU President Ursula von der Leyen said today that the region welcomes Trump’s announcement to pause tariffs for 90 days.

    Von der Leyen said the EU remains “committed to constructive negotiations” with the U.S., according to a statement from her office.

    Meanwhile, Europe continues to focus on diversifying their trade partnerships, engaging with countries that account for 87% of global trade, she said.

    Trump’s tariffs have shown that the European internal market is the region’s “anchor of stability and resilience” in times of uncertainty, von der Leyen added.

    1h ago / 12:27 PM GMT+3
    Sharesocial share icon trigger
    Trade war with China 'to spark a wave of smuggling'

    Peter Guo

    Reporting from Hong Kong
    mgmarket4.at
    Irregular trade including smuggling will most likely rise amid the U.S.' and China's tit-for-tat tariffs, an economist warns.

    The cost of tariffs has become “prohibitive to almost every company,” Tianchen Xu, senior economist at Economist Intelligence Unit.

    “As a result, trade flows in both directions will tumble, and irregular trade will proliferate, including smuggling, transshipment and systemic under-reporting of trade value during customs clearance,” Xu said in a note.

    Xu said trade negotiations and a partial de-escalation in the ongoing trade war may ensue in the coming months, but those tensions are likely to worsen in the short term between the world’s two largest economies.

    1h ago / 12:09 PM GMT+3
    Sharesocial share icon trigger
    California plant business owner says costs will double with tariffs

    Gadi Schwartz and Phil Helsel
    The owner of a California home decor and plant shop said that even in dealing locally, the sourcing of goods from China is impossible to avoid.
    mgmarket7.at

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    06 Jun 2025 - 02:59 pm

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    06 Jun 2025 - 02:45 pm

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    Jameseagex

    05 Jun 2025 - 09:24 pm

    Crime
    U.S. charges sibling leaders of ruthless Mexico cartel, offers $8 million reward for information leading to their capture
    Updated on: April 16, 2025 / 7:02 AM EDT / CBS/AP
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    Federal authorities said Tuesday that they have indicted the top two leaders of a Mexican drug cartel and are offering up to $8 million rewards for information leading to their capture and conviction.
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    Johnny Hurtado Olascoaga and Jose Alfredo Hurtado Olascoaga, are accused of participating in a conspiracy to manufacture cocaine, heroin, methamphetamine and fentanyl and importing and distributing the drugs in the United States, authorities said during a news conference in Atlanta. The newly unsealed three-count indictment was returned by a grand jury in September.
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    The two brothers are the leaders of La Nueva Familia Michoacana, a Mexican cartel that was formally designated by the U.S. government in February as a "foreign terrorist organization," authorities said.

    "If you contribute to the death of Americans by peddling poison into our communities, we will work relentlessly to find you and bring you to justice," Attorney General Pam Bondi said in a statement.

    The State Department is offering up to $5 million for information leading to the arrest and/or conviction of Johnny Hurtado Olascoaga and up to $3 million for information about Jose Alfredo Hurtado Olascoaga, who also goes by the name "The Strawberry." Both men are believed to be in Mexico, officials said.

    Separately the U.S. Treasury announced new sanctions Wednesday against the two men and well as two other alleged leaders of the cartel, which the U.S. designates as a "foreign terrorist organization."

    In addition to drug trafficking, the Familia Michoacana cartel has also engaged in extortions, kidnappings and murders, according to U.S. prosecutors.
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    05 Jun 2025 - 06:55 pm

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    Albertdum

    05 Jun 2025 - 05:20 pm

    Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.

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    As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.

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    Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.

    “I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.

    Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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    “What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”

    Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.

    Anonymous

    Billychita

    05 Jun 2025 - 05:14 pm

    Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.

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    As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.

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    Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.

    “I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.

    Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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    “What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”

    Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.

    Anonymous

    Victorboisp

    05 Jun 2025 - 05:01 pm

    Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.

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    As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.

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    Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.

    “I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.

    Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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    “What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”

    Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.

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