USA

US President Donald Trump’s delay of steeper tariffs may have won brief respite on Wall Street, but analysts say his actions — which hit China especially hard — already bring the average US effective tariff rate to its highest in over a century.

Besides imposing sweeping new 10 percent tariffs on goods from most US trading partners, Trump has also unleashed steep duties on imports of steel, aluminum and autos since his White House return.

But on Wednesday, he backed off even higher rates on dozens of economies, including the European Union and Asian manufacturing hub Vietnam, following a sharp sell-off in US government bond markets — though he doubled down on action against China.

Many goods from the world’s second biggest economy now face levies of at least 145 percent — the total additional figure Trump has imposed this year.

“The newly imposed tariffs now affect $2.4 trillion of US imports, or nearly 75 percent,” said Erica York of the Tax Foundation.

“Compared to Trump’s first term, this is a massive escalation, as his first tariffs affected about $380 billion of US imports or 15 percent,” she told AFP.

‘Highest since 1903’

Researchers from the Budget Lab at Yale University estimate that “consumers face an overall average effective tariff rate of 27 percent, the highest since 1903.”

“This is only slightly different from where the effective rate was before the late-April 9 announcement,” they added.

Even after accounting for consumption shifts, the average tariff rate will be 18.5 percent, the Budget Lab anticipates. This would be the highest since 1933.

Thibault Denamiel, a fellow at the Center for Strategic and International Studies (CSIS), estimates that the US tariff rate was 2.4 percent in December 2024 — a figure which now stands north of 20 percent.

“That’s mostly due to the fact that we still have a 125 percent tariff rate on China,” he said, referring to the latest duty Trump imposed on Chinese goods.

The 125 percent tariff, which took effect Thursday, coupled with an earlier 20 percent over China’s alleged role in the fentanyl supply chain, putting Trump’s new tariffs targeting China this year to 145 percent.

Even a much lower tariff would significantly impact the world’s biggest economy, Denamiel said, noting that China is the United States’ third most important trading partner.

Analysts have also pointed out that Trump’s actions marked the biggest tariff increase since the Smoot-Hawley Act of 1930, which deepened the Great Depression.

Shrinking imports

Trump has claimed the United States was “taking in almost $2 billion a day” from tariffs.

He has referred to them as a means to raise government revenue, boost the country’s industrial sectors and to pressure other governments on US priorities.

But experts warn that prohibitively high duties on China will likely cause US imports from the country to contract.

With Chinese tariffs reaching punitive levels, even conservative estimates suggest that China’s share of imports “should shrink dramatically,” said JPMorgan chief US economist Michael Feroli in a recent note.

If this were to happen, York of the Tax Foundation added that imports from China would end up generating “very little tariff revenue.”

“Overall, we estimate the tariffs and announced retaliation will shrink US GDP by 1.0 percent,” she said.

With Trump’s latest actions, Feroli expects “the drag from trade policy is likely to be somewhat less than before, and thus the prospect of a recession is a closer call.”

“However, we still think a contraction in real activity later this year is more likely than not,” he added.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

A family of five Spanish tourists, including three children, and a pilot were killed after their sightseeing helicopter crashed into the Hudson River in New York on Thursday.

Videos on social media showed parts of the chopper – a Bell 206 – tumbling through the air into the water near the shoreline of Jersey City, New Jersey.

Hudson River Helicopter crash @fox5ny @ABC7 @NBCNewYork @CBSNewYork @njdotcom @News12NJ @CNN @cnnbrk

Credit: Bruce Wall pic.twitter.com/CVy249wApx

— SangriaUltra (@xpertcommander) April 10, 2025

JUST IN: 6 people are confirmed to be deceased in the Hudson River helicopter crash, according to the Associated Press.

The chopper’s propeller was seen detached from the helicopter, spinning into the water.

According to a witness who spoke with NBC, the chopper blade just… pic.twitter.com/EMpWMJC9el

— Collin Rugg (@CollinRugg) April 10, 2025

The helicopter took off around 3 pm from downtown Skyport and flew south before heading up the Manhattan shoreline to the George Washington Bridge, New York City police commissioner Jessica Tisch said.

It then turned back towards the downtown Manhattan heliport, lost control and hit the water near a Hoboken pier, Ms Tisch said.

“NYPD divers pulled four people from the crash site, and FDNY divers recovered an additional two. Immediate lifesaving measures were undertaken on the vessels at the scene, as well as the adjoining pier,” she said.

“Four victims were pronounced dead on scene, and two more were removed to local area hospitals, where, sadly, both succumbed to their injuries,” the police chief added.

Witnesses On New York Helicopter Crash

A hostess at a restaurant along the river in Hoboken, New Jersey, told the news agency AP that the helicopter was spinning uncontrollably with “a bunch of smoke coming out” before it slammed into the water.

The wreckage of a helicopter being removed from the water after crashing into the Hudson River
Photo Credit: AFP

Another witness said it appeared like the helicopter’s rotor blade “shattered in the sky.”

“And after it shattered, then we saw the helicopter just spiral… And then it just crashed into the water just like that,” the witness told the news agency AFP.

Justin Green, an aviation lawyer who was a helicopter pilot in the Marine Corps, told AP that the video of the crash suggested that a “catastrophic mechanical failure” left the pilot with no chance to save the aircraft.

It is possible the helicopter’s main rotors struck the tail boom, breaking it apart and causing the cabin to free fall, Mr Green said.

“There’s no indication they had any control over the craft. No pilot could have prevented that accident once they lost the lifts. It’s like a rock falling to the ground. It’s heartbreaking,” he said.

Donald Trump Calls Chopper Crash Footage “Horrendous”

US President Donald Trump called the crash “terrible.”

“Terrible helicopter crash in the Hudson River. Looks like six people, the pilot, two adults, and three children, are no longer with us. The footage of the accident is horrendous. God bless the families and friends of the victims. Secretary of Transportation, Sean Duffy, and his talented staff are on it. Announcements as to exactly what took place, and how, will be made shortly,” he wrote on Truth Social.

New York Mayor Eric Adams called it a “heartbreaking and tragic crash” and said all six victims had been removed from the water.

At least 38 people have died in helicopter accidents in New York City since 1977.

In a world first, a railway station in Japan has been built using 3D-printed components in under six hours. Construction firm Serendix built the Hatsushima railway station to replace an old wooden structure between the departure of the night’s last train and the arrival of the morning’s first one, according to a report in the New York Times.

The station, which caters to around 530 passengers who use a single line with trains running one to three times an hour, is situated in a quiet seaside town, part of Arida, a 25,000-population city in Wakayama Prefecture.

The new building covers just over 100 square feet and is significantly smaller than the previous wooden station. As per the West Japan Railway Company (JR West), building the station the traditional way would have taken over two months and cost twice as much.

To speed up the project, JR West involved Serendix as the station parts were printed in a factory in Kumamoto prefecture, about 500 miles southwest of Hatsushima. The printing and concrete reinforcement took seven days. The components were then transported by road and arrived at the station site on the morning of March 24.

“Normally, construction takes place over several months while the trains are not running every night,” said Kunihiro Handa, a co-founder of Serendix.

After the last train left the station at 11:57 pm, workers began assembling the 3-D printed pieces. A crane was used to lift each 3D block and place it into position near the old station. The new structure was ready before the first train arrived at 5:45 am.

“We believe that the significance of this project lies in the fact that the total number of people required will be reduced greatly,” said Ryo Kawamoto, president of JR West Innovations.

Also Read | This Viral UK Church Is Using Pro Wrestling To Attract New Followers

While the building has been put in place, it still needs interior work as well as equipment such as ticket machines and transportation card readers. As per JR West, the new railway station building is expected to be opened to the public in July.

Notably, the Hatsushima station was chosen for the project due to its seaside position, which allowed the company to evaluate the building’s resilience against exposure to salty air. The new technology is also being explored as a possible solution to Japan’s labour shortages in railway construction.

Ukraine will receive fresh military support worth 450 million pounds ($580 million), Britain said on Friday, as European allies attempt to strengthen the country’s position ahead of any peace deal with Russia.

Britain will provide 350 million pounds of the amount from its 4.5-billion-pound military support package for Ukraine this year, with Norway contributing further funding, Britain’s ministry of defence said.

The funding comes as British defence minister John Healey chairs a meeting of the Ukraine Defence Contact Group in Brussels along with his German counterpart Boris Pistorius. The group includes NATO and other nations supporting Ukraine.

The funding will provide repairs and maintenance to vehicles and equipment as well as radar systems, anti-tank mines and hundreds of thousands of drones.

“The work of the Ukraine Defence Contact Group is vital to put Ukraine in the strongest possible position and pile pressure on (Russian President Vladimir) Putin to help force him to end this terrible war,” Healey is expected to say at the meeting.

“We cannot jeopardise peace by forgetting the war, which is why today’s major package will surge support to Ukraine’s frontline fight.”

Healey on Thursday chaired a meeting of the defence ministers of the so-called “coalition of the willing”, a British and French-led peacekeeping initiative in the event of a peace deal in the Russia-Ukraine conflict.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Britain is considering deploying troops to Ukraine for five years under plans being discussed by allies.

Prince Harry visited Ukraine on Thursday, a spokesperson said Thursday, becoming the second British royal to travel to the country since Russia’s invasion in February 2022.

The 40-year-old prince spent time with war casualties in Lviv in western Ukraine, the spokesperson told AFP.

The trip was only announced after Harry, a former British Army captain, had left the conflict-torn nation.

King Charles III’s younger son visited the Superhumans Center, an orthopaedic clinic that treats and helps rehabilitate wounded military personnel and civilians.

He was accompanied by members of his Invictus Games Foundation, a multi-sport event he founded in 2014 for injured serving and former soldiers.

Harry also met Ukraine’s minister of veterans affairs Natalia Kalmykova.

He made the trip to Lviv after sitting in a London court on Tuesday and Wednesday for his appeal against a government decision to scale back his police protection when he visits Britain.

The downgrade came after Harry and his wife Meghan Markle quit frontline royal duties in 2020 and moved to the United States. The prince wants the security reinstated.

His aunt, Sophie, Duchess of Edinburgh — who is married to Charles’s youngest brother, Prince Edward — visited Kyiv in April last year.

Last month, Charles welcomed Volodymyr Zelensky to his country estate at Sandringham in eastern England just days after the Ukrainian president received a White House dressing down by US President Donald Trump and Vice-President JD Vance.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

The United States on Thursday exchanged a sanctions-busting suspect for a ballet dancer held by Russia, the second swap under President Donald Trump as Moscow and Washington push to rebuild ties.

Moscow released Los Angeles-based ballet dancer Ksenia Karelina, a US-Russian dual national convicted in Russia of “treason” over a one-time donation worth around $50 to a pro-Ukraine charity.

Washington freed Arthur Petrov, a Russian-German national accused of illegally exporting US-made electronics to manufacturers supplying the Russian military.

The exchange took place at an airport in Abu Dhabi, where a dozen people wearing suits were present, video posted by Russia’s FSB security service showed.

Trump has sought to reset ties with Moscow since taking office, after Russia’s invasion of Ukraine three years ago plunged bilateral relations to their lowest point since the Cold War.

Trump said Karelina’s case was brought to his attention by the president of the UFC mixed martial arts league and that the United States then asked Russian President Vladimir Putin to free her.

“She is now out, and that was good. So we appreciate that,” Trump told reporters at a cabinet meeting.

“We hope that we’re going to be able to make a deal relatively soon with Russia and Ukraine to stop the fighting. It’s so senseless,” Trump said.

The FSB video showed Petrov seated on a plane after he was freed, telling an unseen interviewer that he had not slept for two days but otherwise had no complaints.

Petrov, arrested in Cyprus in 2023 and extradited to the United States, was facing 20 years in a US jail.

– ‘Positive’ step –

CIA Director John Ratcliffe was the key negotiator with Russian intelligence and foreign partners, the CIA said.

Ratcliffe in a statement thanked the UAE “for enabling this exchange.”

“Other Americans remain wrongfully detained in Russia,” a CIA spokesperson said.

“We see this exchange as a positive step and will continue to work for their release.”

The State Department said that the United States has raised the particular case of Stephen Hubbard, an English teacher living in eastern Ukraine who was taken away by Russian troops during the invasion and accused of being a mercenary.

“We continue to work to free Mr. Hubbard and all other Americans unjustly detained,” State Department spokeswoman Tammy Bruce told reporters.

As the prisoner swap took place, US and Russian delegations were meeting in Istanbul on restoring embassy staffing levels after years of diplomat expulsions.

The State Department said after the meeting that Washington renewed concern about Moscow’s prohibition of its citizens working at US missions in Russia.

The two sides also moved to formalize an agreement on banking access for their diplomats, despite the US sanctions on Russia, the State Department said.

– Prisoner swaps –

Karelina, 33, was serving a 12-year prison sentence for having donated around $50 to a pro-Ukraine charity.

She was arrested in the Russian city of Yekaterinburg in January 2024 while on a trip to visit her family and charged with “treason.”

Russia’s Federal Security Service accused her of contributing to “equipment, weapons and ammunition” for Ukraine’s army — charges she denied. Her supporters say she donated to a US-based organization that delivers humanitarian aid to Ukraine.

Petrov was accused by US authorities of illegally exporting electronic components to Russia for military use, in violation of Washington’s sanctions against Moscow over the Ukraine war.

In mid-February, following a call between Putin and Trump, Russia released Kalob Wayne Byers, a 28-year-old US citizen arrested at a Moscow airport for transporting cannabis gummy sweets.

Washington and Moscow also exchanged US teacher Marc Fogel for Russian computer expert Alexander Vinnik in early February.

The largest US-Russia prisoner exchange since the end of the Cold War took place on August 1, 2024. It involved the release of journalists, including WSJ reporter Evan Gershkovich, and dissidents held in Russia in exchange for alleged Russian spies held in the West.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

A federal judge blocked President Donald Trump’s administration on Thursday from revoking the temporary legal status of hundreds of thousands of Cubans, Haitians, Nicaraguans and Venezuelans in the United States.

U.S. District Judge Indira Talwani in Boston issued her order after finding the U.S. Department of Homeland Security’s decision to cut short a two-year “parole” granted to the migrants under former President Joe Biden was based on an “incorrect reading of the law.”

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

The world has heard of Donald Trump the businessman, then came Donald Trump the President, but amid growing resentment in Canada, the US President emerged in a new avatar – a supervillain.

Trump’s repeated threats to annex Canada and make it the 51st state of the United States followed by his move to unleash punishing tariffs have breathed new life into a superhero from the 1970s – Captain Canuck, Canada’s version of Captain America.

The Canadian superhero, cloaked in a red-and-white bodysuit and a face mask featuring the maple leaf – a prominent symbol of Canada, is a government agent with superhuman strength, whose mission is to save Canada and defend the nation’s sovereignty from the ‘bad guys’.

Speaking about Captain Canuck’s resurgence, 74-year-old Richard Comely, the artist who co-created the comic book character, said, “All of a sudden Canadians are looking to Captain Canuck as a symbol. And it’s basically, to them, Captain Canuck symbolizes independence.”

US President Donald Trump’s annexation threats and tariffs have breathed new life into a superhero from the 1970s — Captain Canuck, a Mountie with superhuman strength who defends Canada’s sovereignty https://t.co/isx9L3RLfL pic.twitter.com/SSU7Ei89r3

— Reuters (@Reuters) April 9, 2025

Captain Canuck, whose alter ego is Tom Evans, is a Mountie – a member of the Royal Canadian Mounted Police – who gained his special powers after an alien encounter.

‘SUPERVILLAIN TRUMP AND HIS SIDEKICK MUSK’

Within days of taking office, President Trump had managed to evoke an anti-American sentiment among Canadians and a feeling of resentment for him. It all started when he called the Canadian Prime Minister “Governor”, and followed that up with a threat to annex US’ larger northern neighbour.

President Trump, who now finds himself as a supervillain in Canadian comic books and a graphic novel-based animated series, had offered to “buy” Canada, to which the Canadian government swiftly made a counter-offer to purchase the US state of California.

Moreover, in most of his press briefings, President Trump started referring to Canada as “the 51st state”, justifying how that will be “a great move” to ensure better national security for “all Americans” while also be economically wise for Canadians. This led to widespread protests against Trump with posters and placards reading “Canada Not For Sale!”.

But for Canada, President Trump was behaving just like a classic graphic novel ‘supervillain’ – refusing to let go – in this case, of his rhetoric of wanting to annex Canada. He imposed punitive tariffs – first at a bilateral level across several industries and sectors – and then announce further “reciprocal tariffs” and some non-reciprocal ones in an attempt to crush Canada economically. So great was the pressure that Canada’s interim prime minister called for sudden snap polls in order to bring a decisive government with a strong mandate to counter Donald Trump’s threats and actions.

By now, Canada, an immediate neighbour of the United States and one of its closest allies for many decades, distanced itself. The two governments went from being friends to foes in a matter of weeks. Canadians never felt more strongly that the American leadership couldn’t be trusted anymore.

Canadians, who take pride in their “liberal values and views” also despised the way Elon Musk was allegedly “interfering” in government beyond the United States. Some even cited Musk’s moves to reportedly back the right-wing and the far-right in Europe as an example of his intentions.

And so, like in some classic comic books, Musk was portrayed as ‘supervillain’ Trump’s sidekick – both of whom are shown being graphically manhandled and thrown out by superhero Captain Canuck. While in one frame, the comic shows Donald Trump being physically stopped by Captain Canuck, in another chapter, it shows Trump and Musk being dragged by the collar.

Captain Canuck was back in action – and an instant hit across Canada. Stores and libraries have their shelves stacked up, and Canadians seen lining up to get a copy for themselves.

CANADA NEEDED AN ICON – IN THE 1970s AND NOW

Mr Comely, the co-creator of the superhero, said he created the character in the 1970s – at a moment when he thought Canadians wanted their own icon, given that the United States had Captain America.

“I think there was an undercurrent, so to speak, in Canada in the ’70s. So I think Canadians were starting to feel like, you know, like they should acknowledge the fact that we had our own country, and we had our own culture and be proud of the fact that we were Canadians,” Mr Comely said.

Since the first publication in 1975, there have been 4 million Captain Canuck-themed comic books, books, and graphic novels in print worldwide, Mr Comely said, adding that his original storyline envisioned Canada as a world power that faces challenges from groups seeking to infiltrate, destabilize and take over the country.

“Of course, never, never in any of those stories was it America that was going to be taking over Canada,” Mr Comely said.

For the cover of Captain Canuck’s 50th anniversary issue, Mr Comely depicted the superhero wagging his finger at Donald Trump, who wants Canada to become a US state. “It’s got a lot of Canadians, you know, thinking about their identity as Canadians and feeling more united as Canadians. We feel like, okay, we’ve got to stand in opposition to these proposals,” he said.

Captain Canuck and Mr Comely have had an on-again, off-again relationship with the comic book world since their start in 1975, falling silent when Comely stepped back to help raise his large family, with a brief return in the ’90s charting out a different storyline in “Captain Canuck Reborn.”

Since 2012, when Mr Comely entered into an exclusive licensing agreement with Chapterhouse Comics, Captain Canuck has become a mainstay in the comic book scene, expanding his reach with an animated web series and memorabilia.

Mr Comely said he has received more calls from Canadian companies that have expressed “keen interest” in the fictional character due to the political tensions between the two neighboring countries.

“So in a sense, we have Mr. Trump to thank for a bit of resurgence,” he said.

(Inputs from Reuters)
 

UK auditors Ernst & Young were Thursday hit with a £4.9 million fine (6.3 million euros) for “serious breaches” in its audits of collapsed travel firm Thomas Cook.

The UK watchdog, the Financial Reporting Council, slapped the fine on the company while one of its partners Richard Wilson, who was in charge of the 2017 and 2018 audits, was fined £105,000.

Debt-plagued Thomas Cook, which struggled against fierce online competition for years and blamed Brexit uncertainty for a drop in bookings, abruptly declared bankruptcy in September 2019 after failing to secure £250 million from private investors.

The failure of the 178-year-old doyen of the travel industry followed a lengthy period of chronic financial turmoil after a disastrous series of mergers left it burdened with soaring debt, a large branch network and high costs.

Its sudden demise led to 22,000 job losses worldwide and forced the UK government to embark upon the nation’s biggest repatriation effort since World War II to fly home about 150,000 Britons.

Many disappointed holiday-makers struggled to be reimbursed.

“Both audits failed in their principal objective: that of obtaining reasonable assurance that the financial statements were free from material misstatement,” the watchdog said in a statement.

It noted that “the deficiencies” in the 2018 audit “were particularly serious” given Thomas Cook’s “deterioration in performance compared with expectations”.

However, the watchdog stressed that it was “not suggested that the breaches were intentional, dishonest, deliberate or reckless”.

In a statement, EY said providing “high-quality audits remains our priority and we deeply regret that the 2017 and 2018 audits of Thomas Cook fell below the standards that we expect”.

Chinese conglomerate Fosun bought Thomas Cook in late 2019 for £11 million and relaunched it as an online travel agency the following year.

It was then resold in 2024 to the Polish group eSky.
 

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)