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Two DHL delivery vans deliver parcels in Maximilianstrasse in Munich, Germany, on Feb. 20, 2025.
Companies respond to Trump’s trade crackdown
The ripple effects of US President Donald Trump’s tariff policies continue to impact global supply chains. On Saturday, transport company DHL announced it would suspend international shipments over $800 to American consumers, citing that new tariff rules had overwhelmed its processing systems. Automaker Ford said it was “adjusting” its exports of vehicles like the F-150 Raptor, Lincoln Navigator, and Mustang to China, due to the impact of tariffs. And China’s Xiamen Airline reportedly returned a Boeing 737 MAX, freshly painted in company colors – the latest casualty of that country’s ongoing trade war with the US.
Other countries are opting for negotiation over retaliation. Italian Prime Minister Giorgia Meloni visited Washington on Friday hoping to talk EU trade with Trump, but found the US President was “in no rush” to strike a deal. This week, South Korea will enter into tariff talks, hoping to avert the 25% reciprocal tariff Trump announced, and then paused, in early April.
What else is expected in the next few days? On Tuesday, the IMF is set to release global growth forecasts – and is expected to both lower expectations for growth in tariffed countries while raising expectations for inflation. A day later, coordinated purchasing manager indexes from most major economies will be released, offering a first look at the early impacts of tariffs and trade threats on economic activity.President-elect Donald Trump attends the America First Policy Institute gala at Mar-A-Lago in Palm Beach, Florida, on Nov. 14, 2024.
Hard Numbers: Trump talks tough tariffs, Opposition wins in Uruguay, DHL plane crashes in Lithuania, Israeli drone targeted journalists, Ireland asylum claims spike
25: President-elect Donald Trump took aim at Canada and Mexico via Truth Social on Monday, posting about his plan to charge the countries — currently America’s No. 1 & No. 2 trading partners, — a whopping 25% tariff on all products entering the US. The tariff would be enacted on Jan. 20, 2025, Trump said, and would “remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” He then posted that he would charge China, where the precursor chemicals to fentanyl are made, “an additional 10% tariff, above any additional Tariffs, on all of their many products coming into the United States of America.”
49: Uruguay’s left-wing opposition leader Yamandú Orsiwon the small South American country’s presidential election with 49% of the vote in a neck-and-neck runoff contest on Sunday. It was yet another rebuke of an incumbent party — the theme of many global elections this year — but not to worry: Uruguay is remarkably stable, and Orsi is a moderate with no radical plans.
1: One crew member died on Monday when a DHL cargo flight crashed during its attempted landing in Vilnius, Lithuania, with surveillance video showing a huge ball of flames as the plane went down. Lithuanian officials said they could not rule out whether Russia played a role in the crash, following months of suspicions over Moscow’s possible role in other cases of sabotage against the German shipping giant. Germany, meanwhile, is sending investigators to Vilnius to aid with the probe.
3: Human Rights Watch has determined that an Israeli drone strike that killed three journalists in Lebanon last month was most likely a deliberate attack on civilians, which is a war crime. More than 3,500 people in Lebanon have died amid Israel’s invasion, and more than 1 million have been displaced from their homes in the 5.3-million-strong country.
300: Asylum applications in Ireland have spiked 300% so far this year – with a fourfold increase from Nigeria – compared to last. The rise has been driven by tougher immigration stances in the UK, including a quixotic plan to house asylum-seekers in Rwanda. The uptick is becoming a political issue in Ireland, with voters increasingly concerned by the impact of increased migration on scarce housing.