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Efrenmub

15 Apr 2025 - 12:53 am

Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.

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As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.

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Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.

“I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.

Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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“What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”

Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.

Jeffreyvag

15 Apr 2025 - 12:49 am

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Michaelcoers

14 Apr 2025 - 09:11 pm

Guatemala has pledged a 40% increase in deportation flights carrying Guatemalans and migrants of other nationalities from the United States, President Bernardo Arevalo announced Wednesday during a press conference with US Secretary of State Marco Rubio.
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Guatemala has also agreed to create a task force for border control and protection along the country’s eastern borders. The force, composed of members of the National Police and army, will be tasked with fighting “all forms of transnational crime,” Arevalo said.
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Foreign nationals who arrive in Guatemala through deportation flights will be repatriated to their home countries, Arevalo said, adding that the US and Guatemala would continue to have talks on how the process would work and how the US would cooperate.
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Arevalo also said that Rubio has voiced his support for developing infrastructure projects in the Central American nation. He added that his government would send a delegation to Washington in the coming weeks to negotiate deals for economic investments in Guatemala – which he said would incentivize Guatemalans to stay in their home country and not migrate to the US.

Arevalo said Guatemala has not had any discussions about receiving criminals from the US as El Salvador’s president has offered. He also insisted his country has not reached a “safe third country” agreement with the United States, which would require migrants who pass through Guatemala to apply for asylum there rather than continuing to the US.
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Michaelcoers

14 Apr 2025 - 07:05 pm

Guatemala has pledged a 40% increase in deportation flights carrying Guatemalans and migrants of other nationalities from the United States, President Bernardo Arevalo announced Wednesday during a press conference with US Secretary of State Marco Rubio.
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Guatemala has also agreed to create a task force for border control and protection along the country’s eastern borders. The force, composed of members of the National Police and army, will be tasked with fighting “all forms of transnational crime,” Arevalo said.
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Foreign nationals who arrive in Guatemala through deportation flights will be repatriated to their home countries, Arevalo said, adding that the US and Guatemala would continue to have talks on how the process would work and how the US would cooperate.
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Arevalo also said that Rubio has voiced his support for developing infrastructure projects in the Central American nation. He added that his government would send a delegation to Washington in the coming weeks to negotiate deals for economic investments in Guatemala – which he said would incentivize Guatemalans to stay in their home country and not migrate to the US.

Arevalo said Guatemala has not had any discussions about receiving criminals from the US as El Salvador’s president has offered. He also insisted his country has not reached a “safe third country” agreement with the United States, which would require migrants who pass through Guatemala to apply for asylum there rather than continuing to the US.
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Michaelwaf

14 Apr 2025 - 12:39 pm

How Trump changed his mind on tariffs

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Peter Nicholas, Garrett Haake and Carol E. Lee
Reporting from Washington
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“Liberation Day” gave way to Capitulation Day last night.

President Donald Trump pulled back yesterday on a series of harsh tariffs targeting friends and foes alike in an audacious bid to remake the global economic order.

Image: President Donald Trump
Saul Loeb / AFP - Getty Images
Trump’s early afternoon announcement followed a harrowing week in which Republican lawmakers and confidants privately warned him that the tariffs could wreck the economy. His own aides had quietly raised alarms about the financial markets before he suspended a tariff regime that he had unveiled with a flourish just one week earlier in a Rose Garden ceremony.
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The stock market rose immediately after the about-face, ending days of losses that have forced older Americans who’ve been sinking their savings into 401(k)s to rethink their retirement plans.

Read the full story here.

32m ago / 12:55 PM GMT+3
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China's foreign ministry calls the U.S. a '21st century barbarian'

Peter Guo

Reporting from Hong Kong

China's public language on its trade war with the U.S. has become increasingly bellicose and took a new turn today when Beijing's foreign ministry said the Trump administration's tariffs have made the U.S. a “barbarian of the 21st century.”

Trump’s tariffs will “never America great again” ministry of foreign affairs spokesperson Huang Jingrui, wrote in an open letter today in Hong Kong’s newspaper South China Morning Post.
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“A tariff-wielding barbarian who attempts to force countries to call and beg for mercy can never expect that call from China,” Huang said, adding that the U.S. is “obsessed with the art of bullying and blackmailing the entire world.”

47m ago / 12:40 PM GMT+3
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EU welcomes 90-day tariff pause

Peter Guo

The EU President Ursula von der Leyen said today that the region welcomes Trump’s announcement to pause tariffs for 90 days.

Von der Leyen said the EU remains “committed to constructive negotiations” with the U.S., according to a statement from her office.

Meanwhile, Europe continues to focus on diversifying their trade partnerships, engaging with countries that account for 87% of global trade, she said.

Trump’s tariffs have shown that the European internal market is the region’s “anchor of stability and resilience” in times of uncertainty, von der Leyen added.

1h ago / 12:27 PM GMT+3
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Trade war with China 'to spark a wave of smuggling'

Peter Guo

Reporting from Hong Kong
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Irregular trade including smuggling will most likely rise amid the U.S.' and China's tit-for-tat tariffs, an economist warns.

The cost of tariffs has become “prohibitive to almost every company,” Tianchen Xu, senior economist at Economist Intelligence Unit.

“As a result, trade flows in both directions will tumble, and irregular trade will proliferate, including smuggling, transshipment and systemic under-reporting of trade value during customs clearance,” Xu said in a note.

Xu said trade negotiations and a partial de-escalation in the ongoing trade war may ensue in the coming months, but those tensions are likely to worsen in the short term between the world’s two largest economies.

1h ago / 12:09 PM GMT+3
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California plant business owner says costs will double with tariffs

Gadi Schwartz and Phil Helsel
The owner of a California home decor and plant shop said that even in dealing locally, the sourcing of goods from China is impossible to avoid.
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