Business

President Donald Trump says the US economy is “in transition” as his vacillating tariff policies and government downsizing spread chaos and confusion along manufacturing supply chains. Canada faces a trade war not just with the US but with China as well, and Greenlanders consider their territory's mineral wealth as its strategic importance grows. 

According to reporting from Bloomberg, Germany's envoy to Brussels urged the EU on Wednesday to ease its fiscal rules in order to allow for more defence expenditure to counter Russia. This would mark an important policy shift for a country known for financial restraint, and follows plans to change Germany's own strict fiscal rules. Also in this edition, the EU unveils a new plan to boost its struggling auto industry.

Germany's political parties hoping to form the next government have agreed to loosen the country's strict "debt brake" system which constitutionally limits new government borrowing to 0.35 percent of GDP.  Conservative leader Friedrich Merz says extraordinary efforts are needed to boost the country's defence capabilities given the current security uncertainty. Plus, a day after imposing 25 percent tariffs on imports from Canada and Mexico, Donald Trump has agreed to give a one-month exemption to cars. 

At the opening of the National People's Congress in Beijing, Chinese Premier Li Qiang presented the country's parliament with his government's work report for 2025. Li stressed the importance of revitalising domestic consumption as a driver for economic growth, especially in a context of increased global trade tensions. For the first time in decades, deficit spending will reach 4 percent of GDP. Also in this edition: Europeans consider using Russian frozen assets to finance increased defense spending.

US President Donald Trump's decision to go ahead with steep tariffs on Canada, Mexico and China has drawn sharp responses from the countries targeted and rattled global markets. Shares on Wall Street tumbled again, extending Monday's losses. Meanwhile, businesses are scrambling to adapt to a fast-changing trade environment and growing uncertainty.  

US President Donald Trump has said that 25 percent duties on goods from Mexico and Canada will start on Tuesday, with "no room left" for a further delay.  His announcement sent Wall Street stocks tumbling, with the Dow Jones Industrial Average plunging as much as 800 points. European defence stocks surged earlier on Monday as leaders pledged to boost military spending in the face of uncertainty over the US's commitment to support Ukraine. 

The US Federal Bureau of Investigation (FBI) is pointing the finger at TraderTraitor, a North Korean hacker group, as being behind the largest ever crypto heist in history. The group, also known as Lazarus, allegedly stole 400,000 Ethereum tokens from cryptocurrency exchange Bybit on Friday. Also in this edition: Donald Trump revokes Chevron's permit allowing the US energy giant to exploit Venezuela's oil resources.

As Ukraine and the US reportedly reach an agreement on a joint exploitation of Ukraine's critical minerals, FRANCE 24 takes a closer look at exactly which minerals can be found in Ukraine and why they are so crucial to the US economy. However, a number of obstacles will make it difficult for the US to fully profit from the country's deposits, as we explain in this edition. 

The World Bank estimates it will take over $500 billion to rebuild Ukraine after three years of war. Also in this edition: Bitcoin hits its lowest level in over three months. Plus, a thousand musicians including Kate Bush, Cat Stevens and Annie Lennox are protesting the UK government’s planned changes to copyright law.

During his visit to Washington, French President Emmanuel Macron argued against US President Donald Trump's protectionism, saying he couldn't have a trade war with China and Europe at the same time, and adding that it would make Europe's bid to be less reliant on US defence more complicated. Meanwhile, EU members are preparing their response to US tariffs. Also in this edition, we report on how young Indians are increasingly turning to cryptocurrency trading to complement incomes that aren't keeping pace with the country's booming growth rates.