Business

US President Donald Trump has threatened to slap tariffs of 25 percent on all imports from countries that buy oil and gas from Venezuela. The move is intended to reduce the lifeline that Venezuela's oil and gas represents for Nicolas Maduro's regime. Trump also accuses Caracas of purposefully sending gang members to the United States. Also in this edition, our correspondents in Germany head to the town of Lüdenscheid to get a better sense of the country's infrastructure crisis.

America's central bank keeps interest rates steady but warns that inflation projections are rising and growth is likely to slow as President Donald Trump's trade wars hit the US economy. Also in this edition: Ben & Jerry's sues parent company Unilever over the ouster of its CEO.

Brussels prepares to release a proposal on boosting investment into European firms via reforms to capital markets regulations. Also in this edition: entrepreneurs show off their ideas for a more sustainable use of outer space at a London trade show.

Lawmakers in Germany's Bundestag have passed a colossal defence and infrastructure spending package tabled by Chancellor-in-waiting Friedrich Merz. It includes a special €500 billion fund to update the country's infrastructure over the next 12 years and an exemption for big defence spending from its prized "debt brake" system designed to ensure fiscal discipline. Plus, residents in western Senegal are voicing anger over a gigantic mining operation by French company Eramet. 

US President Donald Trump has threatened to slap a 200 percent duty on imports of wine and spirits from the European Union.  He accused the bloc of imposing a "nasty" 50 percent tariff on bourbons, even though that planned levy is itself a response to Trump’s 25 percent tax on steel and aluminium imports. Plus, Donatella Versace is stepping down as chief creative officer at the Italian fashion house after 30 years.   

The 48th International Tourism Salon gets underway in Paris, with the world's #3 destination the United States seeing a big drop in Canadian visitors. The United Nations prepares for budget cuts amid an efficiency drive after 7 years of liquidity crisis. 

A new, 25 percent import tax on all steel and aluminium coming into the United States has taken effect, drawing swift retaliatory measures from Canada and the European Union. Donald Trump warned of a further response. Sweeping metal tariffs imposed during Trump's first term did have some positive impact on the US steel and aluminium industries but negatively affected other sectors downstream. Plus, US inflation in February cooled slightly. 

US President Donald Trump's 25 percent tariffs on all imports of steel and aluminium came into effect on Wednesday, without any exemptions for the country’s traditional allies. The import duties were welcomed by some American metal producers who want protection against what they believe is unfair competition. The European Union has vowed to retaliate with its own measures targeting 26-bn euros worth of US goods entering the common market. Also, fears of a recession rattle global stock markets.

In the latest twist in an escalating trade war between the US and Canada, Donald Trump announced doubling tariffs on Canadian steel and aluminium to 50 percent only to halt them hours later, after Ontario's premier Doug Ford suspended a planned 25 percent surcharge on electricity exports to the United States. This led to another chaotic trading day on Wall Street. Plus, embattled Japanese carmaker Nissan has announced a management reshuffle: Ivan Espinosa is to replace Makoto Uchida as CEO next month. 

Wall Street stocks plummeted after Donald Trump refused to rule out the possibility of a recession resulting from his tariffs. The Dow Jones Industrial Average dropped 89 points, the S&P 500 closed down 2.7 percent and the Nasdaq sank 4 percent, its biggest one-day loss in five years. Tesla shares nosedived, closing the day down 15 percent as a backlash against Elon Musk's politics intensified. Plus, Japan auctioned off a portion of its emergency stockpiles of rice in an effort to bring prices down.