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North America

Today

President Donald Trump’s erratic tariff moves have led to wild swings in US government debt over the past week by undermining confidence in the US economy and the direction of the US policy.

US Treasuries slide with worst sell-off since 2019

Volatility continued to lash assets in the US markets with bonds extending a slide that could be the biggest in more than five years.

Yesterday

Xi Jinping will try to strengthen regional alliances as the China-US trade war intensifies.

Xi to bolster regional alliances in Trump’s trade war

The Chinese president is under pressure to shore up relationships with South-East Asian allies who are trying to appease Donald Trump and escape his tariffs.

The bond market teaches Trump the art of the squeal

The US president is not easily humbled, but he’s learnt to respect a bond market that has grown far more powerful and consequential than ever.

US Treasury secretary Scott Bessent.

The man who got Trump to do a ‘liberation day’ U-turn

Scott Bessent, described by the president “as one of the most brilliant men on Wall Street” helped change Trump’s tariff stance. His next moves will be crucial.

A Minecraft Movie also topped the box office in China in its opening weekend.

China cuts Hollywood films in latest trade salvo

The move signals that Chinese President Xi Jinping could now be targeting American services in the escalating trade war.

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Video footage shows a helicopter plummeting into the Hudson River.

Helicopter crashes into Hudson River killing six

The chopper appeared to break apart in midair, according to video of the crash posted on social media.

The president lifted on Thursday (Friday AEST) taxes even further on small packages from China that were previously not taxed.

Trump sees transition costs after confirming 145pc China tariffs

The levies have surged to a level far above what many economists have said could decimate trade between the world’s two biggest economies.

This Month

Donald Trump said he had been considering his tariff pause for some time.

US inflation unexpectedly cools ahead of tariffs impact

New data showed the consumer price index unexpectedly dipped 0.1 per cent in March.

Shoppers in Soho, New York. While Donald Trump tries to depict the recent havoc on the S&P 500 as a parlour game for elites, ordinary Americans tend to be more attuned to gyrations in the stock exchange — and their pensions — than people in other countries.

Trump’s markets rollercoaster hits Main Street business

Turbulence in global markets has come alongside fresh evidence that Americans are growing disenchanted with their economy, with sentiment dropping steeply.

Donald Trump’s trade policies have sent the ASX and Wall Street through a wild few days.

Goldman’s 73-minute recession says everything about a reeling market

Was it The Art of the Deal, or just Donald Trump blinking in the face of a bond market shock? Either way, it’s been a day of whiplash for traders and brokers.

Donald Trump

‘Great time to buy’: Did Trump just manipulate the market?

Less than four hours before the president announced he was pausing tariffs, he posted online telling his 9.4 million followers that it was a good time to buy.

Donald Trump has paused tariffs on many countries in a stunning reversal of policy, but increased levies on China.

Here’s why Donald Trump buckled on tariffs

The market turmoil and pressure from Wall Street to Capitol Hill proved too much for the US president.

Donald Trump and Xi Jinping on the sidelines of the G20 summit in Osaka, Japan in 2019.

Trump and Xi are locked in a stand-off. Neither wants to blink first

The US hiked tariffs on China, just hours after Beijing did the same. The move endangers both economies and interests around the world.

Donald Trump is focusing his trade ire on China.

Trump backs down in global trade war but hits China

The president stunned global investors by announcing a 90-day pause in additional tariffs on most countries, but ramping up levies on China.

Sarah Wynn-Williams testifies before the Senate Judiciary Subcommittee on Crime and Counterterrorism.

Ex-Facebook executive says Zuckerberg undermined US security

Sarah Wynn-Williams testified to Congress that the social media giant threatened national interests while cozying up to China, accusations Meta denies.

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JPMorgan CEO Jamie Dimon.

Dimon says US recession is ‘likely outcome’ of tariff upheaval

“No one’s wishing for that but hopefully, if there is one, it’ll be short,” the billionaire chief executive of America’s largest bank said.

Mazda vehicles pile up at the Port of Los Angeles last week.

Cars pile up at ports in Trump tariff confusion

One executive warned the situation at ports worldwide could become “quite ugly” in a few weeks as carmakers park vehicles amid levy uncertainty.

President Donald Trump arrives to speak at the National Republican Congressional Committee (NRCC) dinner at the National Building Museum in Washington.

Trump mocks world leaders as huge new tariffs take effect

The president’s aggressive levies on America’s largest trading partners were introduced at 2pm AEST, even as he touted potential deals with some allies.

Tim Cook attends Donald Trump’s inauguration at the US Capitol in January.

Why Tim Cook may regret cosying up to Trump

Apple’s close relationship with the president has failed to protect it from the trade war chaos, as customers race to upgrade gadgets before the tariffs kick in.

Australia must avoid lighting the blue touch paper of revenge tariffs.

‘Don’t get even, get ahead’ should be Australia’s response to Trump

Now is a time for Australia to lean into the rest of the global trading system and play an even greater leadership role.

Donald Trump is

Trump’s mob boss approach to global markets will backfire

The US president has discovered that it is easier to shake down a law firm than to reshape the international trading system.

Democratic senator Mark Warner, left, and US Trade Representative Jamieson Greer.

‘You’re a much smarter person than that’: US senator rages over Australia tariffs

Mark Warner used a Senate hearing to slam US Trade Representative Jamieson Greer, who insisted Donald Trump was not about to exclude Australia from his levy blitz.

Elon Musk, Donald Trump and Peter Navarro.

Musk calls Navarro ‘Peter Retarrdo’ as Trump tariff spat gets messy

The White House downplayed the disagreement, saying “boys will be boys” and that the administration “will let their public sparring continue”.

Under Trump, America is becoming unrecognisable

Understatement and confidence, decency and expectation; that certain idea of the United States for which the country was once so admired, is evaporating.

US Defence Secretary Pete Hegseth, centre, Panamanian Security Minister Frank Abrego, left, and Southcom Commander Navy Admiral Alvin Holsey inaugurate new facilities at the Port of Rodman in West Panama.

US to ‘take back’ Panama Canal from Chinese influence

US Defence Secretary Pete Hegseth vowed to deepen security co-operation with the Central American nation and said China would not be allowed to “weaponise” the canal.

Original URL: https://www.afr.com/world/north-america