Elon Musk announced that his artificial intelligence company, xAI, has acquired X (formerly Twitter) in an all-stock deal. The transaction values xAI at $80 billion and X at $33 billion, …
- more articles
Consumer confidence in the U.S. has dropped to its lowest point since January 2021, according to a new report from the Conference Board. The index fell 7.2 points in March …
BYD, China’s leading electric vehicle (EV) maker, is becoming a serious rival to Tesla, surpassing the American company in annual revenue for the first time in 2024. With $107 billion …
Donald Trump's new tariffs on imports into the United States have drawn widespread criticism from global leaders, who warn the move will severely impact the world economy. European Commission President Ursula von der Leyen described the tariffs as a “major blow” to the global economy, and highlighted the devastating consequences for vulnerable nations. Other countries, including China, Taiwan, and Japan, have condemned the tariffs, with China threatening countermeasures.Starting April 5, the U.S. will impose a 10% baseline tariff on all imports, with steeper rates for 60 "worst offenders" beginning April 9. Trump justified the move as necessary to correct unfair trade practices and strengthen U.S. manufacturing. However, global leaders, including those from the EU, South Korea, and Brazil, expressed concern over the negative impact, with some promising retaliatory measures.In contrast, countries like Australia have vowed not to engage in a tariff war, while the UK views the lower tariffs as vindication of its recent trade negotiations with the U.S. As trade relations become increasingly tense, some leaders are preparing for economic countermeasures, including potential actions through the World Trade Organization. Trump’s tariffs are likely to change global trade dynamics significantly.