China to US: ‘Market has spoken’ after tariffs spur selloff

China to US: ‘Market has spoken’ after tariffs spur selloff
A man checks his phone next to an electronic board showing stocks on the Heng Seng Index in Hong Kong on Apr. 3, 2025. (AFP)
Short Url
Updated 05 April 2025
Follow

China to US: ‘Market has spoken’ after tariffs spur selloff

China to US: ‘Market has spoken’ after tariffs spur selloff
  • State-run Xinhua news agency also published the Chinese government’s stance, saying the US should “stop using tariffs as a weapon to suppress China’s economy and trade“
  • “The market has spoken,” Chinese foreign ministry spokesperson Guo Jiakun said

BEIJING: China said on Saturday “the market has spoken” in rejecting US President Donald Trump’s tariffs, and called on Washington for “equal-footed consultation” after global markets plunged in reaction to the trade levies that drew Chinese retaliation.
State-run Xinhua news agency also published the Chinese government’s stance, saying the US should “stop using tariffs as a weapon to suppress China’s economy and trade.”
Hong Kong Financial Secretary Paul Chan told public broadcaster RTHK, however, Hong Kong would not impose separate countermeasures, citing the need for the city to remain “free and open.”
“The market has spoken,” Chinese foreign ministry spokesperson Guo Jiakun said in a post on Facebook on Saturday. He also posted a picture capturing Friday’s falls on US markets.
Trump introduced additional 34 percent tariffs on Chinese goods as part of steep levies imposed on most US trade partners, bringing the total duties on China this year to 54 percent.
Trump also closed a trade loophole that had allowed low-value packages from China to enter the US duty-free.
This prompted retaliation from China on Friday, including extra levies of 34 percent on all US goods and export curbs on some rare earths, escalating the trade war between the world’s two largest economies.
Global stock markets plummeted following China’s retaliation and Trump’s comments on Friday that he would not change course, extending sharp losses that followed Trump’s initial tariff announcement earlier in the week and marking the biggest losses since the pandemic. For the week, the S&P 500 was down 9 percent.
“Now is the time for the US to stop doing the wrong things and resolve the differences with trading partners through equal-footed consultation,” Guo wrote in English on Facebook.
In a separate statement published by state-run Xinhua news agency, the Chinese government urged the US: “Stop using tariffs as a weapon to suppress China’s economy and trade, and stop undermining the legitimate development rights of the Chinese people.”
“China has taken and will continue to take resolute measures to safeguard its sovereignty, security and development interests,” said the government.
Washington “seriously undermines the rules-based multilateral trading system, and seriously undermines the stability of the global economic order,” it added.
Earlier on Saturday, several industry chambers of commerce ranging from those representing traders in metals and textiles to electronics, issued statements condemning the tariffs.
China’s chamber of commerce, representing traders in food products, called on “China’s food and agricultural products import and export industry to unite and strengthen cooperation to jointly explore domestic and foreign markets.”
Hong Kong’s Chan said it strongly opposes Trump’s actions and would continue to be “free and open.”
“Allowing a free flow of capital and acting as a free port are our advantages, and this will not change,” Chan told public broadcaster RTHK.
“The rules-based multilateral trading system is our core,” he said.


Russia says Ukraine struck its energy infrastructure 10 times in last 24 hours

Russia says Ukraine struck its energy infrastructure 10 times in last 24 hours
Updated 19 April 2025
Follow

Russia says Ukraine struck its energy infrastructure 10 times in last 24 hours

Russia says Ukraine struck its energy infrastructure 10 times in last 24 hours
  • Both sides have repeatedly accused the other of violating a US-brokered 30-day moratorium

MOSCOW: Russia’s Defense Ministry accused Ukraine on Saturday of attacking Russian energy facilities 10 times over the past 24 hours.
The US brokered a 30-day moratorium in March between Ukraine and Russia against strikes on each other’s energy infrastructure. Both sides have repeatedly accused the other of violating it.
On Friday, Kremlin spokesman Dmitry Peskov, when asked if the energy moratorium was over, said it had already been a month but that no orders from the president had been received to change Russia’s position.


More than 100 inmates make deadly prison break in Chad

More than 100 inmates make deadly prison break in Chad
Updated 19 April 2025
Follow

More than 100 inmates make deadly prison break in Chad

More than 100 inmates make deadly prison break in Chad
  • The break-out occurred late Friday when an uprising happened
  • A local Mongo official said prisoners broke into a manager’s office to steal guns

MONGO, Chad: More than 100 inmates escaped a Chad prison during a shoot-out that left three people dead, and wounded a state governor visiting the facility, officials told AFP on Saturday.
The break-out occurred late Friday when an uprising happened in the high-security penitentiary five kilometers (three miles) from the town of Mongo, in the center of the country.
“There are around 100 who escaped, three dead and three wounded,” Hassan Souleymane Adam, secretary general of the Guera province in which Mongo is located, said.
A local Mongo official, speaking to AFP on condition of anonymity, said prisoners broke into a manager’s office to steal guns.
“A shootout with guards ensued, at the same time the governor arrived. He was wounded,” he said.
The Mongo official confirmed there were three dead, and put the total number of escaped prisoners at 132.
He said the prisoners revolted after complaining about a lack of food.
Chad’s Justice Minister Youssouf Tom told AFP by telephone that he was about to fly to region and would be able to give “precise information once I am at Mongo in the coming hours.”


Russian President Vladimir Putin announces an Easter ceasefire in Ukraine

Russian President Vladimir Putin announces an Easter ceasefire in Ukraine
Updated 19 April 2025
Follow

Russian President Vladimir Putin announces an Easter ceasefire in Ukraine

Russian President Vladimir Putin announces an Easter ceasefire in Ukraine
  • Ceasefire will last from 6 p.m. Moscow time on Saturday to midnight following Easter Sunday

MOSCOW: Russian President Vladimir Putin on Saturday announced an Easter truce in the conflict in Ukraine starting this evening and lasting till midnight on Sunday.
The short-term ceasefire proposal from Russia comes as President Donald Trump has been pressing both Moscow and Kyiv to agree a truce, but has failed to extract any major concessions from the Kremlin.
“Today from 1800 (1500 GMT) to midnight Sunday (2100 GMT Sunday), the Russian side announces an Easter truce,” Putin said in televised comments, while meeting Russian chief of staff Valery Gerasimov.
Easter, a major holiday for Christians, is celebrated on Sunday.
“I order for this period to stop all military action,” Putin said, calling the truce “based on humanitarian reasons.”
“We are going on the basis that the Ukrainian side will follow our example, while our troops must be ready to resist possible breaches of the truce and provocations by the enemy, any aggressive actions,” Putin said.
He said that Gerasimov had told him Ukraine “more than 100 times... breached an agreement on not striking energy infrastructure.”
Russia on Friday abandoned a moratorium on striking Ukrainian energy targets after each side accused the other of breaking a supposed deal without any formal agreement put in place.
The latest truce proposal will show “how sincere is the Kyiv’s regime’s readiness, its desire and ability to observe agreements and participate in a process of peace talks,” Putin said.
Previous attempts at holding ceasefires for Easter in April 2022 and Orthodox Christmas in January 2023 were not implemented after both sides failed to agree on them.


Cambodia welcomes Japanese navy ships to naval base that US suspects is for China’s special use

Cambodia welcomes Japanese navy ships to naval base that US suspects is for China’s special use
Updated 19 April 2025
Follow

Cambodia welcomes Japanese navy ships to naval base that US suspects is for China’s special use

Cambodia welcomes Japanese navy ships to naval base that US suspects is for China’s special use
  • Tokyo has developed increasingly close ties with Cambodia in recent years
  • China and Cambodia have close political, military, and economic ties

PHNOM PENH, Cambodia: Two Japanese naval ships docked Saturday at Cambodia’s Ream Naval Base, whose recently completed Chinese-funded upgrade has heightened US concerns that it will be used as a strategic outpost for China’s navy in the Gulf of Thailand.
The visit by the two minesweepers, the 141-meter (463-foot) -long Bungo and the 67-meter (219-foot) -long Etajima, part of the Japanese Maritime Self Defense Force, marks the first foreign navy visit since the base’s expansion project was completed earlier this month.
Tokyo has developed increasingly close ties with Cambodia in recent years, seeking to offset China’s influence in the region, and Cambodia invited it to make the renovated port’s first port call, widely seen as an attempt to allay Washington’s concerns.
Both Japanese ships, making a four-day port call with a total of 170 sailors, docked at the base’s new pier, where Cambodian officials, including Rear Adm. Mean Savoeun, deputy commander of the base, held a welcome ceremony.
Concerns about China’s activities at the Ream base emerged in 2019 following a Wall Street Journal report alleging a draft agreement that would grant China 30-year use of the base for military personnel, weapon storage, and warship berthing. The US government has publicly and repeatedly aired its concerns.
China and Cambodia have close political, military, and economic ties. They commenced the port project in 2022, which included the demolition of previous naval structures built by the US at the base.
Cambodia has stated that warships from all friendly countries are welcome to dock at the new pier, provided they meet certain conditions. When Japanese Defense Minister Gen. Nakatani announced the planned visit on Tuesday, he said Japan’s port call symbolizes friendship with Cambodia and is key to regional stability and peace.
He stated that the visit would help ensure Cambodia has an open and transparent naval port, while noting the concerns over China’s growing efforts to secure overseas outposts for military expansion.
The port call came just one day after Chinese President Xi Jinping concluded a two-day state visit to Cambodia aimed at further strengthening China’s strong ties with its closest ally in Southeast Asia.
A statement on Saturday from Japan’s embassy in Cambodia stated that the two vessels are on a mission that began in January to visit 11 countries across Africa, the Middle East, South and Southeast Asia. The port call in Cambodia is considered a “historically significant event for Japan-Cambodia relations,” it said.
The embassy emphasized that the journey of the Japanese vessels “underlines the importance of freedom of navigation, free and open international order based on international law, and its development.”
In December last year, a US Navy warship called at the nearby civilian port of Sihanoukville on a five-day visit. The visit by the USS Savannah, carrying a crew of 103, was the first in eight years by a US military vessel to Cambodia.


A US citizen was held for pickup by ICE even after proving he was born in the country

A US citizen was held for pickup by ICE even after proving he was born in the country
Updated 19 April 2025
Follow

A US citizen was held for pickup by ICE even after proving he was born in the country

A US citizen was held for pickup by ICE even after proving he was born in the country
  • It is unclear if Lopez Gomez showed documents proving he is a citizen to the arresting officers
  • Court records show Judge Lashawn Riggans found no basis for the charge

MIAMI, USA: A US citizen was arrested in Florida for allegedly being in the country illegally and held for pickup by immigration authorities even after his mother showed a judge her son’s birth certificate and the judge dismissed charges.
Juan Carlos Lopez Gomez, 20, was in a car that was stopped just past the Georgia state line by the Florida Highway Patrol on Wednesday, said Thomas Kennedy, a spokesperson at the Florida Immigrant Coalition.
Gomez and others in the car were arrested under a new Florida law, which is on hold, making it a crime for people who are in the country illegally to enter the state.
It is unclear if Lopez Gomez showed documents proving he is a citizen to the arresting officers. He was held at Leon County Jail and released after his case received widespread media coverage.
The charge of illegal entry into Florida was dropped Thursday after his mother showed the judge his state identification card, birth certificate and Social Security card, said Kennedy, who attended the hearing.
Court records show Judge Lashawn Riggans found no basis for the charge.
Lopez Gomez briefly remained in custody after US Immigration and Customs Enforcement requested he remain there for 48 hours, a common practice when the agency wants to take custody of someone. ICE did not respond to a request for comment.
The case drew widespread attention because ICE is not supposed to take custody of US-born citizens. While the immigration agency can occasionally get involved in cases of naturalized citizens who committed offenses such as lying on immigration forms, it has no authority over people born in the US
Adding to the confusion is a federal judge’s ruling to put a hold on enforcement of the Florida law against people who are in the country illegally entering the state, which meant it should not have been enforced.
“No one should be arrested under that law, let alone a US citizen,” said Alana Greer, an immigration attorney from the Florida Immigrant Coalition. “They saw this person, he didn’t speak English particularly well, and so they arrested him and charged him with this law that no one (should) be charged with.”