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Myanmar earthquake death toll tops 3,000 with hundreds still missing

LONDON -- The death toll from last week's 7.7 magnitude earthquake in Myanmar rose to 3,085 people as of Thursday morning, according to an update released by the country's military government.

Another 4,715 people have been injured and 341 others remain missing, the junta said.

The epicenter of Friday's magnitude earthquake was near the northern city of Mandalay -- Myanmar's second-largest city. But severe damage has been reported across the country, with thousands of buildings razed, roads destroyed and bridges collapsed.

The earthquake also rocked Thailand, where at least 22 people have been confirmed killed and 35 others injured in the capital Bangkok, according to the city's Metropolitan Administration.

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Trump Tariffs: See Which Countries Have the Highest Rates

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Trump Tariffs: See Which Countries Have the Highest Rates

Washington, D.C. – April 4, 2025 – As trade tensions heat up following former President Donald Trump's latest tariff proposal, global markets are on edge. The proposed tariffs would impose significant duties on imports from several nations, reigniting debates over trade policy and economic impact. Here’s a breakdown of the countries facing the steepest tariffs under Trump’s plan.

China – Up to 60%

China is the primary target of Trump’s proposed tariffs, with rates as high as 60% on a wide range of goods, including electronics, textiles, and automotive parts. Trump argues that these tariffs are necessary to curb China’s "unfair trade practices" and protect U.S. jobs. Economists warn, however, that such aggressive tariffs could further strain supply chains and lead to higher consumer prices in the U.S.

Mexico – 25%

Mexico, one of the United States' largest trading partners, is also facing potential tariff hikes of up to 25%. Trump has stated that these measures aim to encourage American companies to shift manufacturing back to the U.S. and reduce reliance on foreign labor. Industries most affected could include automobiles, agriculture, and consumer goods.

European Union – 20%

The European Union (EU) is expected to see tariffs of up to 20%, primarily targeting luxury goods, automobiles, and steel. Trump has long been critical of the EU’s trade policies and subsidies, arguing that American businesses have been at a disadvantage. European officials have warned that such tariffs could lead to retaliatory measures, increasing the risk of a broader trade dispute.

Japan – 15%

Japan, another key U.S. ally, is also on Trump’s tariff radar, with proposed rates of 15% on industries such as automotive, machinery, and consumer electronics. Analysts suggest that these tariffs could impact major Japanese automakers like Toyota and Honda, which have significant production and sales in the U.S.

South Korea – 10%

South Korea faces proposed tariffs of up to 10%, largely affecting the technology and steel industries. Trump has expressed concerns over the U.S.-Korea trade balance and believes these tariffs will promote domestic manufacturing. South Korean officials have indicated they may seek diplomatic negotiations to ease trade restrictions.

What’s Next?

If implemented, these tariffs could reshape global trade dynamics, prompting countermeasures from affected countries. Economists and business leaders have voiced concerns over potential supply chain disruptions, inflationary pressures, and geopolitical tensions. The Biden administration has yet to issue a formal response but is expected to push back against Trump's aggressive trade stance.

As markets and policymakers brace for potential fallout, the international community watches closely to see how these tariff proposals will unfold in the coming months.

Stay tuned for further updates as the situation develops.

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Live Updates: Wall Street Reels From Shock of Trump Tariffs

New York, NY – April 4, 2025 – U.S. markets faced a dramatic selloff today following a surprise announcement from former President Donald Trump, who proposed sweeping tariffs on Chinese imports if re-elected. The declaration sent shockwaves through Wall Street, causing volatility across major stock indices and raising concerns over a renewed trade war.

Market Reaction

The Dow Jones Industrial Average plunged over 700 points in early trading before recovering some losses, while the S&P 500 and Nasdaq Composite also saw sharp declines. Investors rushed to reposition their portfolios, with safe-haven assets such as gold and U.S. Treasuries seeing a surge in demand.

"Markets are reacting swiftly to the unexpected nature of Trump’s proposed tariffs," said Greg Lawson, chief market strategist at Silvercrest Financial. "Investors are now assessing the likelihood of these policies being enacted and their potential economic impact."

Trump’s Tariff Plan

Speaking at a rally in Michigan last night, Trump pledged to impose tariffs of up to 60% on Chinese goods, arguing that such measures would protect American manufacturing jobs and counteract what he called "unfair trade practices." The announcement came as part of his broader economic policy push leading up to the 2024 election.

"For too long, China has taken advantage of us," Trump told supporters. "That ends the day I take office again."

The proposal, however, has drawn immediate criticism from economists and business leaders, who warn that escalating trade tensions could disrupt supply chains and drive inflation higher.

Corporate Concerns and Global Impact

Several major U.S. companies with strong ties to China, including Apple, Tesla, and Boeing, saw their stock prices decline significantly as analysts warned of potential retaliatory tariffs from Beijing.

"We are deeply concerned about the impact of new tariffs on global supply chains and American consumers," said Sarah Johnson, CEO of the U.S. Chamber of Commerce. "Protectionist policies can have unintended consequences that hurt businesses and workers alike."

Meanwhile, Beijing has yet to issue an official response, but state-run media have condemned Trump’s rhetoric, hinting at potential countermeasures. Asian markets also suffered declines overnight, with the Shanghai Composite dropping nearly 3%.

Political and Economic Uncertainty

The latest development injects fresh uncertainty into an already turbulent election season. President Joe Biden’s administration quickly responded, with White House officials emphasizing the risks of reigniting trade tensions. Treasury Secretary Janet Yellen reassured investors that the current administration remains committed to stable economic policies and free trade agreements.

"A sudden shift toward protectionism could disrupt the economic progress we’ve made," Yellen said in a press briefing.

What’s Next?

As investors brace for further volatility, analysts predict markets will closely watch Trump’s upcoming campaign stops and policy announcements. Additionally, all eyes will be on Beijing’s next move and whether the current administration takes preemptive steps to mitigate potential trade disruptions.

Stay tuned for further updates as this story develops.