Overview

• The Trump administration’s tariffs, including a 145% levy on Chinese goods and 10% on other nations, are now fully implemented, with exemptions for electronics like smartphones and computers.
• China has vowed firm retaliation, dismissing U.S. tariff policies as coercive, while Indonesia and Taiwan pursue sector-specific relief measures to shield their economies.
• The European Central Bank has cut interest rates to 2.25%, the sixth reduction in response to the trade war’s economic fallout, as global markets remain volatile.
• U.S. consumer spending shows resilience, with March retail sales rising 1.4%, driven by a 5.3% increase in auto purchases following a 25% tariff on imported vehicles.
• The U.S. Department of Transportation has suspended funding for the Dallas–Houston high-speed rail project, citing unsustainable costs exceeding $40 billion.