Oil prices retreated 2% on Thursday as fears of a deepening U.S.-China trade war and a possible recession eclipsed earlier relief created by President Donald Trump’s announcement of a 90-day pause on some tariffs against most countries. reuters.com/business/energ…
Month: April 2025
President Donald Trump will undergo his first physical examination of his second administration on Friday, and questions about cognitive testing hang in the balance. “I am pleased to report that my long scheduled Annual Physical Examination will be done at Walter Reed Army Medical Center on Friday of this week,” the president wrote on Truth […]
Business committee chair joins calls for Scunthorpe steelworks to be taken into public ownership
The government is under mounting pressure to nationalise British Steel if crunch talks aimed at a rescue deal fail, as the chair of the influential business committee added his voice to those calling for the Scunthorpe steelworks to be taken into public ownership.
Ministers are on Thursday expected to make a formal offer to Jingye, the Chinese owner of the company, which would result in taxpayers providing funding for the purchase of raw materials such as iron ore and coking coal for Scunthorpe’s blast furnaces.
BRUSSELS — The European Union’s executive commission said Thursday it will put retaliation measures on hold for 90 days to match President Donald Trump’s pause on his sweeping new tariffs on global trading partners and leave room for a negotiated solution.
European Commission President Ursula von der Leyen said that the commission, which handles trade for the bloc’s 27 member countries, “took note of the announcement by President Trump.”
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New tariffs on 20.9 billion euros ($23 billion) of U.S. goods will be put on hold for 90 days because “we want to give negotiations a chance,” she said in a statement.
But she warned: “If negotiations are not satisfactory, our countermeasures will kick in.”
Trump imposed a 20% levy on goods from the E.U. as part of his onslaught of tariffs of 10% and upward against global trading partners but said Wednesday he will pause them for 90 days to give countries a chance to negotiate solutions to U.S. trade concerns.
Countries subject to the pause will face Trump’s 10% baseline tariff.
Before Trump’s announcement, E.U. member countries voted to approve a set of retaliatory tariffs on $23 billion in goods in response to his 25% tariffs on imported steel and aluminum that took effect in March. The E.U., the largest trading partner of the U.S., described them as “unjustified and damaging.”
The E.U. tariffs were set to go into effect in stages, some on April 15 and others on May 15 and Dec. 1. The E.U. commission didn’t immediately provide a list of the goods.
Members of the E.U. — the world’s largest trading bloc — have said they prefer a negotiated deal to resolve a trade war that damages the economies on both sides. The bloc’s top trade official has shuttled between Brussels and Washington for weeks trying to head off a conflict.
The targeted goods are a tiny fraction of the 1.6 trillion euros ($1.8 trillion) in U.S.-E.U. annual trade. Some 4.4 billion euros in goods and services crosses the Atlantic each day in what the European Commission calls “the most important commercial relationship in the world.”
The E.U. has targeted smaller lists of goods in hopes of exerting political pressure and avoiding economic damage from a wider escalation of tit-for-tat tariffs.
The E.U. is also working on a further set of countermeasures in response to Trump’s blanket 20% tariff on all European goods, now suspended. That could include measures aimed at U.S. tech companies and the services sector as well as trade in goods.
Still, von der Leyen said that Europe intends to diversify its trade partnerships.
She said that the E.U. will continue “engaging with countries that account for 87% of global trade and share our commitment to a free and open exchange of goods, services, and ideas,” and to lift barriers to commerce inside its own single market.
“Together, Europeans will emerge stronger from this crisis,” von der Leyen said.
—McHugh reported from Frankfurt, Germany
The treacherous Darien Gap migrant route to the United States has become a complete ghost town in the wake of the Trump administration’s fierce crackdown on illegal immigration, before-and-after-photos show.
Especially if the plan, as Aaron Glenn suggested, is to let Fields develop as a dropback passer instead of a running back with a good arm?
The North West Migrants Forum was awarded the funding through PEACEPLUS
The Asian Development Bank (ADB) projects that Tajikistan will sustain strong economic growth over the next two years, according to the bank’s Asian Development Outlook 2025 released in April.
Robust Growth Ahead
Tajikistan’s gross domestic product is forecast to grow by 7.4% in 2025 and 6.8% in 2026. This growth is expected to be fueled by significant investments in the energy and industrial sectors, solid domestic demand, and an increasingly dynamic private sector.
While these figures mark a slight decline from the impressive 8.4% GDP growth recorded in 2024, one of the highest in the region, the ADB highlights the need for deeper structural reforms. In particular, digital transformation and the expansion of e-governance are deemed critical to ensuring long-term, sustainable development.
Digital Transformation: Opportunities and Hurdles
ADB’s Resident Representative in Tajikistan, Ko Sakamoto, emphasized the strategic importance of digitalization.
“We welcome the government’s prioritization of digital transformation as a key driver of development. We stand ready to support efforts to overcome persistent barriers, including a lack of investment,” he said.
Despite widespread mobile phone usage, Tajikistan ranks 139th globally in mobile internet speed. However, digital engagement is on the rise: in the first half of 2024, the number of registered digital wallets hit 10.4 million, and non-cash transactions rose 16.2% year-on-year.
ADB experts recommend that Tajikistan focus on developing a robust digital infrastructure to broaden access to public services. The widespread integration of digital technologies in governance and business is seen as vital to industrial modernization and improving overall quality of life.
Inflation, meanwhile, is projected at 5.0% in 2025 and 5.8% in 2026. Key inflationary pressures include rising consumer lending, salary increases for public sector employees, and higher utility tariffs.
Continued Partnership and Support
The Asian Development Bank, a major multilateral financial institution supporting sustainable and inclusive development across Asia and the Pacific, has been working with Tajikistan since 1998. Over that time, the country has received more than $2.7 billion in assistance, including $2.2 billion in grants.
These funds have supported vital infrastructure projects in transportation and energy, as well as climate resilience and social development programs.
Established in 1966, ADB has 69 member countries, 49 of which are from the region. The bank continues to be one of Tajikistan’s principal development partners, offering innovative financing tools and strategic cooperation to enhance economic sustainability and improve livelihoods.
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