Archive: https://archive.is/2025.04.12-132331/https://www.ft.com/content/3eb48a07-7cb0-4a44-9159-eb5b402c2fec

The Trump administration has excluded smartphones from its steep “reciprocal” tariffs as it battles to calm global markets by tempering its approach to the multifront trade war launched by the president.

According to a notice posted late on Friday night by Customs and Border Patrol, which is responsible for collecting tariffs, smartphones, along with routers and selected computers and laptops, would be exempt from reciprocal tariffs, which include the 125 per cent levies Donald Trump has imposed on Chinese imports.

Archive: https://archive.is/2025.04.11-082455/https://www.ft.com/content/706b6281-1077-40b8-ad40-e11ee0f55f92

US troops will be able to deploy a string of bases along the Panama Canal under a joint deal seen by AFP on Thursday, April 10, a major concession to President Donald Trump as he seeks to reestablish influence over the vital waterway. The agreement, signed by top security officials from both countries, allows US military personnel to deploy to Panama-controlled facilities for training, exercises and “other activities.”

The deal stops short of allowing the United States to build its own permanent bases on the isthmus, a move that would be deeply unpopular with Panamanians and legally fraught. But it gives the United States broad sway to deploy an unspecified number of personnel to bases, some of which Washington built when it occupied the canal zone decades ago.

China says it will cut the number of US films that are imported into the country in retaliation against the latest wave of tariff increases imposed by the Trump administration. A statement issued by the Chinese Film Administration (CFA) on Thursday, which we’ve translated using Google, said that the decision to increase tariffs against China to 125 percent was “the wrong move,” and will “further reduce the domestic audience’s favorability” towards American-made movies.

“We will follow market rules, respect the audience’s choice, and moderately reduce the number of American films imported,” The CFA said. “China is the world’s second-largest film market. We have always adhered to a high level of opening up to the outside world and will introduce more excellent films from the world to meet market demand.”

Predictions about a potential ban on American film imports into China have been circulating in recent days since Trump ramped up his trade war against the country. Under previous trade agreements, China agreed to release 34 foreign films per year and provide overseas studios with a 25 percent share of ticket sales. It’s unclear how significantly these allowances may be reduced going forward.

Developing…

Archive: https://archive.is/2025.04.10-102821/https://www.reuters.com/world/europe/greenland-freedom-city-rich-donors-push-trump-tech-hub-up-north-2025-04-10/

April 10 (Reuters) - As the Trump administration intensifies efforts to acquire Greenland from Denmark — or take it by force — some Silicon Valley tech investors are promoting the frozen island as a site for a so-called freedom city, a libertarian utopia with minimal corporate regulation, three people familiar with the matter told Reuters.

The discussions are in early stages, but the idea has been taken seriously by Trump’s pick for Denmark ambassador, Ken Howery, who is expected to be confirmed by Congress in the coming months and lead Greenland-acquisition negotiations, the people said. Howery, whose involvement with the idea hasn’t been previously reported, once co-founded a venture-capital firm with tech billionaire Peter Thiel, a leading advocate for such low-regulation cities. Howery is also a longtime friend of Elon Musk, a top Trump advisor.

Howery declined to comment. The White House did not respond to requests for comment. Sources who spoke to Reuters requested anonymity to discuss private conversations.

Archive: https://archive.is/2025.04.10-043038/https://www.ft.com/content/cd7c043a-1983-4106-b4f9-13d66f951faf

US shale oil producers are facing their gravest threat in years, as a sudden crude price sell-off triggered by Donald Trump’s trade war has pushed parts of the sector to the brink of failure, executives have warned.

US oil prices have fallen 12 per cent since Trump’s “liberation day” tariff announcement last week, leaving them below the level many producers in Texas say they need to break even — and sparking fears the industry could be forced to idle rigs.

Opec’s recent decision to raise production has also raised alarm bells.

“This reminds me exactly of Covid,” said Kirk Edwards, president of Latigo Petroleum, an independent producer based in Odessa, Texas, referring to the 2020 price crash that brought a wave of bankruptcies across the shale sector. (…)