This week saw significant political and economic developments, with United States President Donald Trump announcing new tariffs and Vice President JD Vance making a notable visit to Greenland after Trump showed interest in the region.
Trump imposed a 25% tariff on non-US-made cars and a 25% tariff on Venezuelan oil, effective April 2. A leaked Signal exchange exposed discussions on US military operations in Yemen, after White House National Security Adviser Mike Waltz reportedly accidentally invited The Atlantic's journalist to the group chat with US officials. The White House dismissed concerns, saying no confidential information was compromised and Trump later blamed the leak on a low-level employee. In a separate issue, the Colorado Capitol removed Trump's portrait after he criticized its appearance.
Economic reports this week showed mixed trends. Japan's factory sector saw its sharpest decline in a year, while Eurozone business activity reached a seven-month high. Inflation eased in Australia, the UK and Spain, while France's inflation held steady. US GDP growth was revised up to 2.4% for Q4 2024 and the country's goods trade deficit fell to $147.9 billion. Meanwhile, GameStop reported a 28.5% drop in Q4 sales and gold hit a record high of $3,080 per ounce.
Elsewhere, South Korea's top court overturned the impeachment of Prime Minister Han Duck-soo, while Russia and Ukraine held talks with the US in Saudi Arabia. Ukraine also received a new minerals deal proposal from the US, Lebanon accused Israel of violating a ceasefire and the US continued attacks on Yemen. Furthermore, Myanmar suffered a devastating 7.7-magnitude earthquake, resulting in over a thousand dead, including casualties in Taiwan.
