President Trump threatened another 50% tariff on China. If...
President Trump threatened another 50% tariff on China. If you put money on yesterday being the day the trade war de-escalated, you lost that bet: President Trump posted on social media that unless China nixes the retaliatory 34% tariff on US goods that it announced to counter the US’ latest tariff, he’d slap another 50% import tax on Chinese products and would refuse to enter talks. China called the threat “a mistake on top of a mistake” and said it would “fight to the end.” Other countries have been more conciliatory toward the US, but it’s unclear how well those negotiations are going. White House trade advisor Peter Navarro said yesterday that Vietnam’s offer to eliminate tariffs on all US products wasn’t enough. The EU also seemed ready to come to the table, saying it had offered “zero-for-zero tariffs” for industrial goods, even as it plans potential counter-tariffs.
The Supreme Court ruled that the government can use a rarely invoked wartime law to deport Venezuelan migrants but said they must get a court hearing first. Separately, Chief Justice John Roberts temporarily blocked a judge’s order requiring the US to bring back a man the government admitted to having mistakenly deported to El Salvador to give the full Supreme Court time to consider the issue.
President Trump said the US will be holding direct talks with Iran about its nuclear program on Saturday, which would be the first ones since 2015.
Microsoft has fired engineers who protested the Israeli military’s use of the company’s AI products at the company’s 50th anniversary celebration last week.
Florida defeated Houston 65–63 in a thriller to win the men’s college basketball national championship.
Barrick Gold, the company whose stock ticker is “GOLD,” wants to be a little less gilded. It’s proposing changing its name to Barrick Mining Corp. to reflect its large investment in copper.
China has gone 60 days without importing US liquefied natural gas, the longest pause in five years, as it counters the Trump administration's escalating trade measures with steep new tariffs. Facing a 49% duty on American LNG and a 34% blanket tariff on US goods starting April 10, Chinese buyers are increasingly rerouting shipments to avoid higher costs. "Zero LNG trade between China and the US is likely to continue for the rest of 2025," predicted Rystad Energy's Wei Xiong.
DOE plans data centers on federal land for AI support
Energy Secretary Chris Wright has detailed a Department of Energy plan...
Energy Secretary Chris Wright has detailed a Department of Energy plan to build data centers on federal land, co-locating them with power sources to support artificial intelligence. The department has identified 16 potential sites, including national labs, and plans to have AI infrastructure ready by the end of 2025 and data centers operational by 2027.
Tariffs, price slump pressure top US oilfield servicers
New tariffs and falling crude prices are squeezing US oilfield service...
New tariffs and falling crude prices are squeezing US oilfield service firms, with analysts forecasting revenue declines and outsized profit hits for SLB, Halliburton and Baker Hughes. Tariff-driven cost hikes on equipment like pipes, sucker rods and valve fittings are expected to take the heaviest toll on firms with global supply chains.
Oil prices slide 2% to near 4-year low as US trade conflict fuels recession fears
(Reuters) -Oil prices slid 2% to a near four-year low...
(Reuters) -Oil prices slid 2% to a near four-year low on Monday on worries U.S. President Donald Trump's latest trade tariffs could push economies worldwide into recession and reduce global energy demand.
Brent futures fell $1.37, or 2.1%, to settle at $64.21 per barrel, while U.S. West Texas Intermediate crude futures fell $1.29, or 2.1%, to settle at $60.70.
That pushed both crude benchmarks, which fell about 11% last week, to their lowest closes since April 2021.
The session was marked by extreme volatility with intraday prices down more than $3 a barrel overnight and up over $1 Monday morning after a news report said Trump was considering a 90-day pause on tariffs. White House officials quickly denied the report, sending crude prices back into the red.
