Global Tensions Escalate: Key Developments in Trade and Politics
Global Tensions Escalate: Key Developments in Trade and Politics
Iran rejects direct nuclear talks with the U.S. but is open to indirect negotiations.
Emphasizes a commitment to regional peace and no intention of building nuclear weapons.
Iran criticizes the U.S. as untrustworthy and promises heavy counterattacks against any violations of sovereignty.
EU Plans Countermeasures Against U.S. Tariffs.
The European Union is preparing $28 billion in counter-tariffs on U.S. imports like dental floss and diamonds.
EU seeks a "united front" to negotiate with the U.S. but will take action if talks fail.
EU trade ministers are meeting to strategize over Trump’s tariffs and their impact.
Federal Reserve Chair Jerome Powell states the economy is still strong but signals concerns due to rising inflation and slower growth.
Powell warns of the uncertain effects of tariffs on economic growth and inflation, but it's too early to judge the Fed's response.
Oil Prices Fall to Four-Month Low.
Oil prices plummet as Trump’s tariffs spark fears of a global economic slowdown and reduced demand.
Concerns grow over trade wars impacting global oil consumption.
U.S. stock futures fall sharply, with Nasdaq futures down 5%, amid fears of a looming recession.
Investors anticipate Fed rate cuts, while U.S. officials downplay recession fears and maintain support for tariffs.
