Tariffs latest news: Asian markets fall and China reacts to JD Vance ‘peasants’ insult as Trump 104% levy comes into effect

The central banks of New Zealand and India cut rates on Wednesday, which could carry forward a broader step by policy makers to try and cushion their economies.

But some economists have warned that American consumers eventually are likely to bear the brunt of trade war, from sneakers to alcohol, they face higher prices.

Danish luxury stereo manufacturer Bang & Olufasen said on Wednesday that it would increase prices on selected products next month for tariffs and other factors.

About three-fourths of Americans hopes that the prices of everyday goods will increase in the next six months, a new reveater/Ipsos pole.

The full effects of Wednesday’s tariffs cannot be felt for some time, as any goods will be exempted from new levy as a transit in the form of midnight as long as they arrive in the US by 27 May.

FTSE has opened more than two percent below and clearly, the rise of tomorrow is proving to be a very short term. Of the 100 companies in London’s top index, only two – Airtel Africa and BAE Systems – are in green.

We have already dropped markets in Asia mostly overnight, about four percent with Nikkei 225 and Hang Seng 0.4 percent in red.

Reuters reported that yesterday there was the first time in the US that S&P 500 started more than two percent, yet ended more than one percent. More expected today.

Culture Secretary Lisa Nandi said on Wednesday that Britain would not make any changes in its online security act as part of the trade dialogue with the United States.

“We have really clarified that we have to regulate the online space to ensure that it is a safe place, as we will do in the real world,” she said to Times Radio, when asked if she would consider changing the law.

“This is not on the table as part of a business talks.”

Britain has targeted to attack a new economic partnership with the United States focusing on technical and artificial intelligence to soften the widespread tariff shock declared by President Donald Trump last week.

Campaigors have expressed concern that measures to disrupt the power of “Big Tech”, such as online security law and digital service taxes can be watered to secure a deal.

Britain’s online security act, which has become a law in 2023, sets a difficult standard for platforms to deal with criminal activity, with emphasis on child protection and illegal material.

China is allegedly considering the ban on all USFLMs in vengeance for Donald Trump to increase tariffs on Chinese imports.

Bloomberg News In the report that in China, two wide bloggers followed bloggers with a link to local authorities, sharing the same list of measures that can be introduced by Chinese authorities in response. These include “reducing or banning the imports of US films”.

French Industry Minister Mark Ferryi said it was paramount to analyze the possible impact of American tariffs on areas such as aerospace, cosmetics or luxury goods to check the European Union’s response.

Mr. Ferry also told Francinfo Radio that the European Union’s response should be “firm and proportional”, which would hit jobs to avoid an increase.

President Donald Trump’s “mutual” tariff on dozens of countries implemented on Wednesday, including 104 percent of duties on Chinese goods, deepening his global trade war, even prepared for talks with some countries.

Pushing a shopping cart of a Walmart Supersenter, Thomas Jennings, 53, was loaded on the juice, spices and whatever he could think.

Earlier in costco, Jennings bought flour, sugar and water in bulk.

“There is a recession coming and I am preparing for the worst,” he said.

The Vice President said that the US was “giving huge amounts of loans to buy things that make other countries”.

Leaders of Vietnam and Spain promised to promote economic relations and defense cooperation and voiced their support to maintain free trade, at a time when both are killed with mutual tariffs of Trump administration.

Spain and Asian manufacturing powerhouse Vietnam Vietnam Vietnamese are demanding to implement 46 percent tariffs and 25 percent on European Union products effectively enter the US on Wednesday.

Vietnam wants to upgrade the relationship with Spain at the earliest at the level of comprehensive strategic partnership, its Prime Minister Fam Minh Chinh said during his visit to his Spanish counterpart Pedro Sanchez.

“Regarding the current global situation, it is more difficult and challenging, the more we need to cooperate and outlines multiplicity,” Mr. Chin said in a joint briefing with the Sanchhez in Hanoi.

Mr. Sanchez said that Spain believed in economic openness and business was against struggles.

“Spain supports a rule-based international order, free trade and economic openness, and assumes that no one benefits the business wars, but everyone is harmed,” he said.

Spain is eager to expand its appearance in Vietnam, including railway infrastructure, where Spain can share expertise with the construction of its high -speed rail network, said Mr. Sanchez.

Chinese e-commerce giants Sheen and Temu face a sharp shock after taking tariffs on low-cost imports from China and Hong Kong, which increased to 90 percent after removing a long discount on valuable packages under $ 800.

Initially 30 percent – or starting from $ 25 – 2 May, the tariff rate is now three times at $ 75 per package. The White House confirmed that Levi would move beyond June 1.

The move has led to a significant increase in Washington’s trading cracks and is likely to kill millions of American consumers, especially small shopkeepers

. Both platforms have increased popularity in the US, operated by viral videos and budget-conscious general Z buyers.

Tariff Hike is expected to disrupt their business model, which depends a lot on shipping to direct low-value packages from China to individual customers.

The head of the Madef Business Lobby Group in France warned on Wednesday that the US tariffs, who are deepening a global trade war, can kill economic growth and cause recession.

“Surely I am worried,” Patrick Martin told RTL Radio when asked about the impact of American tariffs on fracture businesses.

He said, “The risk is that there will be development stall and we will go into recession.”