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U.S. President Donald Trump’s so-called “reciprocal” tariffs took effect on Thursday, imposing higher duties on many of the country’s trading partners’ exports to the U.S.”IT’S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!” Trump wrote on social media platform Truth Social.In an earlier post Trump had said the tariffs were targeting “COUNTRIES THAT HAVE TAKEN ADVANTAGE OF THE UNITED STATES FOR MANY YEARS.”India’s $434 billion merchandise exports engine: What’s at stake as Trump doubles tariffs to 50%Trump last week — ahead of his Aug. 1 tariffs deadline — rejigged the tariff rates and pushed back the deadline to…

US President Donald Trump speaks with the press as he meets with Indian Prime Minister Narendra Modi in the Oval Office of the White House in Washington, DC, on Feb. 13, 2025. Jim Watson | AFP | Getty Images India’s set to face a 50% tariff after the White House announced an additional 25% levy on the South Asian country Wednesday over its purchases of Russian oil. That’s now among the highest duties on any of the U.S.’ trading partners.New Delhi responded swiftly in a statement Wednesday, describing the U.S.’ decision to raise tariffs as “unfair, unjustified and unreasonable,” and that…

The container ship Gunde Maersk sits docked at the Port of Oakland on June 24, 2024 in Oakland, California. Justin Sullivan | Getty ImagesDanish shipping giant Maersk on Thursday posted stronger-than-expected second-quarter operating profit, citing continued focus on operational improvements despite unprecedented geopolitical volatility.The company, widely considered a barometer of global trade, reported preliminary underlying earnings before interest, tax, depreciation and amortization (EBITDA) of $2.3 billion for the June quarter.That’s up around 7% from $2.14 billion over the same period a year ago and above the $1.97 billion expected by analysts in an LSEG poll.Maersk raised its full-year 2025 financial guidance,…

A sign with the Toyota logo in Surrey, England on August, 2023Peter Dazeley | Getty Images News | Getty ImagesToyota Motor on Thursday cut its annual operating profit forecast as the world’s largest auto company by sales volumes grapples with U.S. auto tariffs. Here are Toyota’s results compared with the mean estimates from LSEG:Revenue: 12.25 trillion Japanese yen ($83.4 billion) vs. 12.19 trillion yenOperating profit: 1.17 trillion yen vs. 881.41 billion yenWhile its June-quarter results topped estimates, operating profit dropped 11% year on year, with the company ascribing 450 billion yen in losses to U.S. tariffs. Net income attributable to the…

Rheinmetall shares drop 6% after earnings missA Rheinmetall MAN Military Vehicle on Nov. 20, 2024, in Donetsk Oblast, Ukraine.Yan Dobronosov | Global Images Ukraine | Getty ImagesShares of German arms manufacturer Rheinmetall were 6.2% lower by 2 p.m. in London (9 a.m. ET), making it the worst performing stock on Germany’s DAX index.It came after the company reported sales of 2.43 billion euros ($2.8 billion) for the second quarter, below the 2.5 billion euros expected by analysts polled by LSEG. Quarterly earnings before interest and taxes (EBIT) came in at 236 million euros, a way off from the 295 million…

India’s exports to the U.S. face a steep 50% tariff after U.S. President Donald Trump on Wednesday slapped an additional 25% duty on Indian goods over the country’s oil purchases from Russia. The extra duties — set to come into effect within 21 days — will be stacked on top of the 25% tariffs on New Delhi due Thursday stateside, according to the executive order. Analysts are warning that the higher U.S. tariffs risk substantially diminishing the allure of Indian exports to the U.S., compared to regional peers. “India’s attractiveness as an emerging manufacturing hub will be hugely undermined,” Shilan…

A cargo ship carries foreign trade containers on the Jiaozhou Bay waterway in Qingdao, Shandong Province, China, on August 5, 2025. Costfoto | Nurphoto | Getty Images China’s export growth in July sharply beat market expectations as the clock on a tariff truce with the U.S. keeps ticking, while imports rose to their highest in a year.Exports climbed 7.2% in July in U.S. dollar terms from a year earlier, customs data showed Thursday, exceeding Reuters-polled economists’ estimates of a 5.4% rise.Imports rose 4.1% last month from a year earlier, marking the biggest jump since July 2024, according to LSEG data.…

Seven Republican US senators have called for an investigation into DeepSeek’s data security threats, citing growing concerns that the artificial intelligence (AI) model could leak personal data or generate harmful content.  In a letter submitted to US Commerce Secretary Howard Lutnick, the lawmakers urged the government to evaluate the risks of Chinese AI models collecting and sending data to servers in China. After DeepSeek released its R1 model in late January, Wiz Research found a publicly accessible database belonging to the Chinese AI model. It said the database contained a significant volume of chat history, backend data and sensitive information,…

A semiconductor wafer is on display at Touch Taiwan, an annual display exhibition in Taipei, Taiwan April 16, 2025. Ann Wang | ReutersAsia semiconductor-related stocks traded mixed Thursday after U.S. President Donald Trump announced he would impose a 100% tariff on chip imports, with an exemption for companies that are “building in the United States.”Details on how much domestic manufacturing is required to qualify for the exemption remain unclear.Japanese semiconductor manufacturer Tokyo Electron fell over 5% before paring losses to trade 2.9% lower as of 11.20 a.m. Japan time (10.20 p.m. ET Wednesday), data from LSEG showed. Other Japanese chip…

WASHINGTON (AP) — After more than three years of war, Ukrainians are increasingly eager for a settlement that ends the fight against Russia’s invasion, according to a new Gallup poll published Thursday — although only about a quarter of Ukrainians surveyed expect the guns to fall silent within the next 12 months.The enthusiasm for a negotiated deal is a sharp reversal from 2022 — the year the war began — when Gallup found that about three-quarters of Ukrainians wanted to keep fighting until victory. Now only about one-quarter hold that view, with support for continuing the war declining steadily across…