Trump supporters lose $12bn as president’s cryptocurrency coin collapses
Donald Trump’s supporters have lost more than $12bn (£9.5bn) in a month after the value of the president’s cryptocurrency collapsed.
$Trump, a so-called “meme coin” unveiled on Jan 17, three days before Mr Trump’s inauguration, has lost more than 80pc of its value since its peak on Jan 19.
This has led to its overall worth falling from a peak of $15bn to $2.7bn on Thursday, as it suffered amid a wider crypto rout.
The paper value of the coins owned by Mr Trump himself has also fallen by $50bn.
While Mr Trump’s own losses have not been crystallised, investors are on the hook after spending heavily to back the Trump coin in the run-up to his inauguration, partly as a show of support but also as a gamble that the token would rise in value.
#Trump #TrumpCoin #cryptocurrency #crypto #memeCoin #News
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Europe must show leadership against Trump’s ‘ruthlessness,’ Germany's foreign minister says
With U.S. support in doubt, German foreign minister warns that Europe must lead on Ukraine or risk losing its security.
BERLIN — As European leaders prepare to meet in London on Sunday for an emergency summit on Ukraine, German Foreign Minister Annalena Baerbock has called for Europe to show decisive leadership in the wake of the Oval Office clash between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskyy.
In a starkly worded speech delivered Saturday in the Foreign Ministry, Baerbock warned of a “new era of ruthlessness” following Trump’s public humiliation of Zelenskyy and the U.S. administration’s shifting stance on Russia's invasion of Ukraine.
“A ruthless time has begun, in which we must defend the rules-based international order and the strength of law more than ever against the power of the strongest,” Baerbock said.
#Berlim #News #Europe #Ukraine
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‘He defended our honour’: Ukraine reacts to Zelenskyy’s clash with Trump
Back home there was widespread support for Ukraine’s president, but also dismay at his car-crash encounter in the Oval Office
Ukrainians have rallied behind Volodymyr Zelenskyy after his mauling on Friday in the White House, and have accused Donald Trump and the US vice-president, JD Vance, of deliberately and cynically “starting a brawl”.
There was widespread support for Ukraine’s president at home and dismay at his car-crash encounter in the Oval Office. There was also praise for Zelenskyy’s insistence that a peace deal without security guarantees was meaningless, and that Russia could not be trusted.
The bitter fallout continued on Saturday. There were reports that Trump – who claimed Zelenskyy had “disrespected” him and was “not ready for peace” – was planning to cut off all military supplies to Ukraine.
Senior Ukrainian officials said that without meaningful security pledges any ceasefire deal with Moscow would not last.
#Ukraine #Zelensky
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Trump condemns Zelensky remarks that war end is 'far away'
A statement by Ukrainian President Volodymyr Zelensky saying a deal to end the war with Russia was "very far away" has drawn a furious response by Donald Trump.
"America will not put up with it for much longer," the US president said in a social media post, before accusing Zelensky of not wanting peace.
A summit of mostly European leaders in London on Sunday agreed a four-point plan to guarantee Ukraine's defence in the event of a peace deal with Russia.
"Probably not a great statement to have been made in terms of a show of strength against Russia. What are they thinking?" Trump said, apparently referring to the summit held two days after his fiery clash with Zelensky at the Oval Office.
The summit - hosted by UK Prime Minister Keir Starmer - was intended as a show of support for Ukraine and an attempt to reduce differences between Western countries over Ukraine.
Britain and France said they were working on a European-led solution to the conflict.
After the meeting, Zelensky said a deal to end the war between Ukraine and Russia was "still very, very far away".
He added that he expected the US to continue backing Ukraine despite his own fraught relations with Trump.
"I believe that Ukraine has a strong enough partnership with the United States of America," Zelensky said late on Sunday.
#Zelensky #Trump #BBC #News
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Trump warns Zelensky he 'won't be around very long' if he refuses peace deal with Russia
Donald Trump stepped up the pressure on Volodymyr Zelensky Monday with a stark warning: Sign up to a peace deal or risk annihilation.
The U.S. president spoke to reporters at the White House after an investment announcement, and used the occasion to further ratchet up pressure on the Ukrainian leader.
He said Zelensky should be 'more appreciative' of American aid if he wants Washington's help and made clear his frustration after their Oval Office summit on Friday descended into a slanging match.
#Trump #Zelensky #DailyMail #News
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Dow tumbles 800 points as Trump confirms tariffs on Mexico and Canada will start Tuesday
US stocks slid Monday as investors braced for President Donald Trump’s proposed tariffs on Canada and Mexico to go into effect by the midnight deadline.
The Dow tumbled 650 points, or 1.48%, to close at 43,191. The Dow fell almost 900 points in afternoon trading before pulling back slightly. The broader S&P 500 fell 1.76% and the Nasdaq Composite fell 2.64%.
The S&P 500 posted its biggest one-day decline of the year. The Nasdaq is down about 6.5% since since Trump took office on January 20.
“Tomorrow, tariffs — 25% on Canada and 25% on Mexico,” Trump said during a press conference at the White House. “And that’ll start. … What they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs.”
Trump said the two trading partners had “no room” left to negotiate to avoid the levies and that he was using tariffs to “punish” countries that, as he put it, were taking from the US economy without giving enough in return.
“They’re all set. They go into effect tomorrow,” he said.
Trump also signed an executive order on Monday raising tariffs on imports from China to 20%, up from 10%. Trump said the tariffs, aimed at bringing China to the table on curtailing fentanyl entering the United States, will be raised because the communist country has not done enough to stem the flow of illegal drugs.
The VIX, Wall Street’s fear gauge, surged to its highest point this year after Trump’s comments.
“Due to the uncertainty surrounding the tariffs, the stock market has erased the gains from the ‘Trump bump’ following the presidential election and the expected upward pressure on prices is giving investors pause,” said Gustavo Flores-Macias, a professor of government and public policy at Cornell University.
“For investors, 2025 can still be a positive year for stocks, but it may take all year to realize gains. And they may be modest,” said Gina Bolvin, president of Bolvin Wealth Management Group.
“I’m still a bull,” Bolvin said.
The import taxes Trump imposed are significant — the largest in US-China history. The initial tariffs, which went into effect February 4, set in motion tariffs on $1.4 trillion of imported goods. That’s more than triple the $380 billion worth of foreign goods that were hit with tariffs during Trump’s first term, according to estimates from the Tax Foundation.
Before he became president, Trump pledged a 60% tariff on all Chinese goods, so the tariff level could rise still.
Commerce Secretary Howard Lutnick said at the press conference about tariffs on Canada and Mexico that global companies can avoid tariffs if they invest into production in the United States, like TSMC, the Taiwanese chipmaker at the White House on Monday to announce a $100 billion US investment.
Trump’s tariffs will raise prices of imported goods, which could boost demand for goods produced in the US, according to analysts at Goldman Sachs. But they also noted that tariffs will have negative effects on some American businesses.
“Tariff increases will also raise production costs for some domestic producers and will likely prompt foreign retaliation against some US exports, both of which could hurt domestic production,” they wrote in a note.
#CNN
#Mexico #Canada #China #US #News
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European leaders ‘doubling down’ on backing Zelensky after Trump blowup
LONDON — Rattled European leaders said Sunday they were “doubling down” on supporting Ukraine and boosting military aid following the televised Oval Office blowup between President Donald Trump and Ukrainian President Volodymyr Zelensky.
The embattled Zelensky was greeted with cheers outside 10 Downing Street and a warm hug from British Prime Minister Keir Starmer when he arrived late Saturday for an emergency summit of European leaders. The pair embraced again at the start of the session Sunday, which Starmer described as a “once-in-a-generation moment” for European security, and they sat side-by-side during the talks.
The display of support stood in stark contrast with comments Sunday from Trump administration officials, who heaped blame on Zelensky for the White House uproar. National security adviser Michael Waltz described Zelensky’s behavior as “incredibly disrespectful,” and Secretary of State Marco Rubio accused him of disrupting U.S. efforts to get Russian President Vladimir Putin to negotiate an end to the war.
#WashingtonPost
#Europe #News #Zelensky
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"Putin couldn't be happier" over Trump-Zelenskyy meeting, Trump's former national security adviser says
An Oval Office showdown between President Trump and Ukrainian President Volodymyr Zelenskyy would have been cheered by Russian President Vladimir Putin, according to Lt. Gen. H.R. McMaster, who served as Mr. Trump's national security adviser during his first administration.
The U.S. imposed sanctions on Russia and provided aid to Ukraine after the war began but last month, Mr. Trump flipped U.S. policy on its head. He opened peace talks with Russia, which occupies 20% of Ukraine while bombing the rest, and did not invite Ukraine. Then on Friday, he berated Zelenskyy during an explosive Oval Office meeting.
"Vladimir Putin couldn't be happier," McMaster, who is a CBS News contributor and author of "At War with Ourselves: My Tour of Duty in the Trump White House," said. "Because what he sees is all of the pressure on Zelenskyy, all of the pressure on Ukraine and no pressure on him."
Trump and Russia
During his Friday Oval Office meeting with Zelenskyy, Mr. Trump revealed something of a common cause with the Russian president. Mr. Trump complained that he and Putin had both been slandered for years by allegations that Russia helped Mr. Trump's campaigns, allegations the U.S. president ties to his Democratic opponents.
"Putin went through a hell of a lot with me. He went through a phony witch hunt where they used him and Russia, Russia," Mr. Trump said.
McMaster, who was ousted by Mr. Trump in 2018, said Putin has manipulated many world leaders, including the U.S. commander in chief.
#CBSNews #News
#Putin #Russia #Trump #Zelensky
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Trump softens tone on Zelenskyy but repeats threat to take over Greenland
Donald Trump has said he appreciated Volodymyr Zelenskyy’s willingness to sign a minerals deal with the United States and come to the negotiating table to bring a lasting peace in Ukraine closer.
“Earlier today, I received an important letter from President Zelenskyy of Ukraine,” the US president said in a speech to Congress after last week’s disastrous meeting at the White House. Quoting from the letter, Trump said Zelenskyy told him that “Ukraine is ready to come to the negotiating table as soon as possible to bring lasting peace closer. Nobody wants peace more than the Ukrainians.”
“My team and I stand ready to work under President Trump’s strong leadership to get a peace that lasts,” Trump quoted Zelenskyy as writing. “We do really value how much America has done to help Ukraine maintain its sovereignty and independence.”
#TheGuardian #News
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Starmer and Macron plan to accompany Zelensky to White House on Trump visit
Sir Keir Starmer and Emmanuel Macron are considering accompanying Volodymyr Zelensky to Washington to salvage his relationship with Donald Trump.
The visit would be part of a three-pronged plan being worked out by Kyiv’s European allies after a dramatic spat in the Oval Office between the US and Ukrainian presidents led to Washington suspending military support for the war-torn nation.
“We are considering potentially having President Macron travel again to Washington, alongside President Zelensky and his British counterpart,” an Élysée Palace spokesman said.
“We’re currently engaged in tight negotiations which involve the French president, as well as the entire government.”
Mr Macron’s office later said there were no current plans for the trip, while No 10 also denied plans were under way.
It comes as Mike Waltz, the US president’s national security adviser, said the president would consider restoring aid to Ukraine if peace talks were arranged and “confidence-building measures on the table”.
#SirKeirStarmer #Macron #Zelensky #WhiteHouse
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China vows to ‘fight till the end’ as Trump escalates trade war
China has vowed to “fight till the end” after US President Donald Trump escalated his trade war by doubling tariffs on all Chinese imports to 20%.
Beijing hit back at Trump’s levies by imposing retaliatory tariffs of up to 15% on selected American goods, expanding export controls to a dozen US firms and filing a lawsuit at the World Trade Organization. It also sent a stern warning to the Trump administration: Chinese people will never bow to “hegemony or bullying.”
“Pressure, coercion and threats are not the right ways to engage with China. Trying to exert maximum pressure on China is a miscalculation and a mistake,” Lin Jian, a spokesperson for China’s Foreign Ministry, told a regular news briefing Tuesday afternoon. “If the US insists on waging a tariff war, trade war, or any other kind of war, China will fight till the end.”
The barrage of retaliatory measures and fiery exchanges came as Chinese leader Xi Jinping is preparing to hold a major political gathering designed to project confidence in his country’s ability to stay the course and weather external headwinds.
As thousands of delegates convene in the Chinese capital for the country’s “two sessions” annual meeting, Xi and his officials are set to use the highly choreographed spectacle to broadcast China as a major power steadily advancing its tech prowess and global rise.
That escalating rivalry between the two powers will be in the spotlight on Wednesday morning in Beijing, when Trump’s first address to Congress will roughly coincide with a state-of-the-union-like speech delivered by China’s No. 2 official Li Qiang at the opening meeting of the National’s People Congress (NPC), which rubber-stamps decisions already made behind closed doors.
There, Li is expected to announce China’s yearly targets for economic growth and military spending — and lay out how Beijing plans to continue its economic growth and transformation into a technological powerhouse in the face of mounting pressure from the United States.
Despite the challenges, analysts aren’t bracing for any major policy surprises or U-turns from the roughly weeklong meetings of both the NPC and the country’s top advisory body. True decision-making power lies with the Chinese Communist Party, whose authority cannot be challenged in the country – and Xi, the party’s most powerful leader in decades.
The increased tariffs — and the threat of more economic and tech controls to come — are casting a long shadow over China’s two sessions, which observers will also be watching for signs on how Beijing will continue to address its rumbling economic difficulties at home.
And signs point to Beijing staying the course on its leader’s strategies to bolster innovation, industry and self-sufficiency to steel itself against frictions ahead: all while projecting that, in China, it’s business as usual.
We must “face difficulties head-on and strengthen confidence” amid growing external challenges, the Communist Party journal Qiushi quoted Xi as saying in an article released Friday that’s meant to set the tone for the gathering.
#CNN
#China #Asia #US #Trump
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Trump has instructed to raise Canadian tariffs on aluminum and steel to 50%
Trump orders more tariffs on Canada after Ontario levies tax on electricity exports
Donald Trump has ordered an increase in tariffs on Canadian steel and aluminum and threatened to impose more levies, after Ontario yesterday slapped a 25% surcharge on electricity exports to three US states.
In a lengthy post on Truth Social, Trump said he would “permanently shut down the automobile manufacturing business in Canada” if the country did not end unspecified tariffs it had placed on US goods:
Based on Ontario, Canada, placing a 25% Tariff on “Electricity” coming into the United States, I have instructed my Secretary of Commerce to ad an ADDITIONAL 25% Tariff, to 50%, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD. This will go into effect TOMORROW MORNING, March 12th. Also, Canada must immediately drop their Anti-American Farmer Tariff of 250% to 390% on various U.S. dairy products, which has long been considered outrageous. I will shortly be declaring a National Emergency on Electricity within the threatened area. This will allow the U.S to quickly do what has to be done to alleviate this abusive threat from Canada. If other egregious, long time Tariffs are not likewise dropped by Canada, I will substantially increase, on April 2nd, the Tariffs on Cars coming into the U.S. which will, essentially, permanently shut down the automobile manufacturing business in Canada. Those cars can easily be made in the USA!
Ontario’s addition of a 25% electricity surcharge affects New York, Minnesota and Michigan, which receive electricity from the province.
#News #Canada #USA #TheGuardian
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Arab Leaders have an alternative to Trump's GAZA plan - "Draft" statement obtained by the BBC
A $53bn (£41.4 billion) reconstruction plan to rival President Donald Trump's idea for the US to "take over Gaza" and move out more than two million Palestinians has been approved by Arab leaders at an emergency summit in the Egyptian capital Cairo.
"The Egypt plan is now an Arab plan," announced the secretary general of the Arab League Ahmed Aboul Gheit at the end of this hours-long gathering.
Without referring specifically to President Trump's ideas, he underlined that "the Arab stance is to reject any displacement, whether it is voluntary or forced".
Egypt had produced a detailed blueprint, with a 91-page glossy document including images of leafy neighbourhoods and grand public buildings, to counter a US scheme labelled as a "Middle East Riviera" which shocked the Arab world and beyond.
#USA #US #GAZA #Egypt #News #BBC
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Stocks fall as Trump warns of US economy trade war 'transition'
A sell-off in the US stock market gathered steam on Monday, fuelled by rising concern about the cost of the trade war to the world's largest economy.
The S&P 500, which tracks the biggest American companies, fell about 2% in early trade, while the Dow Jones dropped 0.9% and the Nasdaq sank more than 3.5%.
The falls came after President Donald Trump ducked questions about whether the US economy was facing a recession or price rises as a result of tariff moves, while warning instead of a "period of transition".
Commerce Secretary Howard Lutnick, however, insisted there would be no contraction in the US, although he acknowledged that the price of some goods may rise.
Investors fear that tariffs - which are taxes on goods applied as they enter the country - will lead to higher prices and ultimately dent growth in the world's largest economy.
"The level of tariffs that Trump is imposing, I think no doubt, will have to cause inflation somewhere down the line," Rachel Winter, investment manager at Killik & Co, told the Today programme.
Economist Mohamed El-Erian said investors had been optimistic about Trump's plans for de-regulation and lower taxes, while under-estimating the likelihood of a trade war.
He said the recent falls in the stock market, which started last week, reflect the adjustment of those bets.
"It's a complete change in what the market expected," he added, noting that investors are also responding to signs that businesses and households are starting to hold off on spending amid the uncertainty, which could hurt economic growth.
European stocks closed lower on Monday, with France's CAC and the London FTSE indices both closing around 0.9% lower. Germany's DAX closed 1.75% lower.
Susannah Streeter, head of money and markets at the stockbrokers Hargreaves Lansdown, said it was because of "unease around the impact of Trump tariffs". She added that concerns over the US economy entering a recession is worrying investors.
Tesla shares fell about 8% on Monday, while tech stocks Nvidia and Meta were both down more than 4%.
Speaking to Fox News in an interview broadcast on Sunday but recorded on Thursday, Trump appeared to acknowledge the concerns, responding to a question about whether the US was facing recession: "I hate to predict things like that. There is a period of transition because what we're doing is very big. We're bringing wealth back to America. That's a big thing."
"It takes a little time, but I think it should be great for us," he added.
#BBC #News #Trump #USA
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New Canadian Prime Minister Mark Carney seeks alliances in Europe as he deals with Trump
MONTREAL (AP) — New Canadian Prime Minister Mark Carney is heading to Paris and London on Monday to seek alliances as he deals with U.S. President Donald Trump’s attacks on Canada’s sovereignty and economy.
Carney is purposely making his first foreign trip to the capital cities of the two countries that shaped Canada’s early existence.
At his swearing-in ceremony on Friday, Carney noted the country was built on the bedrock of three peoples, French, English and Indigenous, and said Canada is fundamentally different from America and will “never, ever, in any way shape or form, be part of the United States.”
A senior government government official briefed reporters on the plane before picking up Carney in Montreal and said the purpose of the trip is to double down on partnerships on with Canada’s two founding countries. The official said Canada is a “good friend of the United States but we all know what is going on.”
#APNEWS #News #Canada
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China strikes back at Trump tariffs with 15% levies targeting US farmers
WASHINGTON (AP) — China retaliated against President Donald Trump’s tariffs with an additional 15% tax on key American farm products, including chicken, pork, soybeans and beef.
The escalating trade tensions punished U.S. markets Monday as investors fearful of the damage from from Trump’s trade wars put their money elsewhere.
The Chinese tariffs, announced last week, were a response to Trump’s decision to double the levy on Chinese imports to 20% on March 4. China’s Commerce Ministry had earlier said that goods already in transit would be exempt from the retaliatory tariffs until April 12.
Imposing tariffs on imports is a key part of Trump’s agenda. He believes the import taxes can raise money for the Treasury, protect American industries and pressure foreign countries to do what he wants in a range of issues, including immigration and drug trafficking.
#China #USA #AP #News
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Iranian Hackers Allegedly Leak Trump Campaign’s 271-Page Dossier on JD Vance’s Weaknesses
The Trump campaign has claimed that a massive leak of internal documents, including a detailed 271-page file on Senator J.D. Vance’s (R-OH) potential vulnerabilities, may have been orchestrated by Iranian hackers. While these claims have yet to be confirmed, the leaked information has raised significant concerns within the campaign.
Politico, the outlet that received the leaked communications, reported that the documents were sent by an anonymous source claiming to have obtained them through hacking. The Trump campaign confirmed the authenticity of the communications on Saturday, attributing the leak to foreign entities hostile to the United States. According to campaign spokesperson Steven Cheung, these documents were obtained illegally with the intent to disrupt the 2024 election and create chaos within the American democratic process.
Supporting this claim, a recent report from Microsoft indicated that Iranian hackers had compromised the email account of a high-ranking official within the Trump campaign in June 2024. This hacking incident reportedly coincided with the period when President Trump was in the process of selecting his vice-presidential running mate.
The Microsoft report further detailed that another Iranian group, believed to be connected to the Islamic Revolutionary Guard Corps (IRGC), attempted a spear phishing attack on a senior official in a presidential campaign. The phishing email, sent from the compromised account of a former senior advisor, contained a malicious link designed to reroute traffic through a domain controlled by the hackers.
Politico revealed that it began receiving emails on July 22 from an AOL account under the alias “Robert.” These emails included internal communications from the Trump campaign, with one email containing the extensive 271-page dossier on J.D. Vance titled “POTENTIAL VULNERABILITIES.” When questioned about the source of the documents, “Robert” advised Politico not to investigate further, suggesting that such inquiries could legally jeopardize the publication of the information.
This incident is not the first time Trump has been targeted by hackers. In 2020, his social media account was compromised when a hacker guessed his password, “maga2020!” Moreover, Trump has allegedly been the target of an Iranian assassination plot, leading to charges against a Pakistani man with ties to the Islamic Republic by the Department of Justice.
#Election2024 #CyberSecurity #Hacking #IranianHackers #TrumpCampaign #JDVance #PoliticalLeaks #ForeignInterference #CyberThreats #USPolitics
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Game on: ABC News says Harris, Trump have agreed to presidential debate on Sept. 10
ABC News says that both Republican presidential nominee Donald Trump and his Democratic counterpart, Kamala Harris, have agreed to meet in a debate on Sept. 10.
The network’s announcement on Thursday came shortly after Trump told a news conference that he had agreed to three debates with Harris in September on separate networks.
Trump is rejoining the ABC debate days after posting on his social media network that he would not appear on the network, citing a lawsuit he has filed. His decision sets up a highly anticipated moment in an election where the first debate led to a massive change in the race — with Democratic President Joe Biden ending his reelection bid and endorsing Harris.
“I think it’s very important to have debates,” Trump said Thursday. “I look forward to the debates because I think we have to set the record straight.”
On the social media site X later on Thursday, Harris wrote that “I hear that Donald Trump has fully committed to debating me on September 10. I look forward to it.”
At a private fundraiser in Paris on Thursday, Harris’ husband, Doug Emhoff, said he “cannot wait” to see his wife debate Trump. He was in Paris as head of the U.S. delegation to the Summer Olympics closing ceremony.
Fox News has also proposed a debate between Harris and Trump to take place on Sept. 4, and NBC News is angling to air one on Sept. 25. During an appearance in Michigan, Harris said she was “happy to have that conversation” about an additional debate.
Trump also said he wants his vice presidential candidate, JD Vance, to debate Harris’ choice for veep, Minnesota Gov. Tim Walz, on CBS. The network is discussing potential dates to propose for that meeting.
ABC says that David Muir and Linsey Davis will moderate the Sept. 10 contest. That’s the same date that Trump and Biden had agreed to their second and final debate, before Biden’s decision put that event in doubt.
Any debate promises to take on extra importance with polls showing a tight race between the former president and current vice president. While Harris has ridden a wave of excitement among Democrats since inheriting the mantle from Biden, she has yet to appear at a news conference or give an interview to a journalist.
Republicans are already making that an issue. Vance, in a post on X as Trump was in his news conference on Thursday, said Harris was hiding behind a TelePrompter. “It’s been 18 days since she answered real questions from the media,” he wrote.
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