Tariffs stoke global trade war

Plus, Hungary says it is withdrawing from the ICC.

Get full access to Reuters.com for just $1/week. Subscribe now. Daily Briefing Daily Briefing By Edson Caldas Donald Trump's move to slap a 10% tariff on most goods imported to the US, as well as much higher levies on dozens of countries, has intensified a global trade war. Follow our live updates here. Today we are also covering Hungary's withdrawal from the ICC, protests against gang violence in Haiti and the race to buy TikTok. Business & Markets   Trump's tariffs US President Donald Trump smashed a more than 75-year-old global trading system with a new baseline 10% US tariff on goods from all countries and higher reciprocal tariff rates for nations that his administration says have high barriers to US imports. The latest round of tariffs will sap yet more vigor from a world economy barely recovered from the post-pandemic inflation surge, weighed down by record debt and unnerved by geopolitical strife. We have a full list of the proposed tariffs and their key features. Watch: Markets are reeling from the measures' impact. More exposed to the risk of shrinking world commerce than any other nation, China vowed counter measures, as did the EU – Washington's friends and foes united in criticism of the tariffs. For Trump, his tariff gamble brings a political risk. Experts say it will take years to rekindle US manufacturing, alter supply chains and bring home production, the goals Trump and his supporters suggest his tariffs will achieve. In other business news The euro zone economy saw a modest growth for a third month in March as the bloc's manufacturing industry showed signs of recovery and its dominant services industry expanded at a slightly faster pace than in February, a survey showed. As the weekend deadline for TikTok to find a buyer approaches, bidders for the short-video social media site are piling up. Amazon and, separately, a consortium led by OnlyFans founder Tim Stokely are the latest to throw their hats into the ring.  The buy-now-pay-later firm Klarna is pushing through a still-thin pipeline toward an IPO. Despite a high-tech sheen, it's less tied to the big themes of the moment than recent disappointing offerings. In this week's Viewsroom podcast, Breakingviews columnists debate its prospects. World News   A mother stands on a roadside waiting for a donation of relief supplies in Sagaing, Myanmar. REUTERS/Stringer The death toll from Myanmar's earthquake has surpassed 3,000. Listen to Chief Correspondent Devjyot Ghoshal on the Reuters World News podcast to find out how the deadly quake might transform the political fortune of the country's ruling general. Hungary's government has decided to withdraw from the International Criminal Court, shortly after Israeli leader Benjamin Netanyahu, sought under an ICC arrest warrant, arrived in the country for a state visit. Here are some facts about the ICC. NATO chief Mark Rutte and the new US ambassador sought to reassure European allies that Washington will remain committed to the Western military alliance despite harsh words from Trump. Thousands of Haitians took to the streets in Port-au-Prince to express their anger against armed gangs that control nearly all of the capital and surrounding areas and the government's failure to hold them off. US politics Trump's approval rating fell to 43%, the lowest since his return to office, as Americans soured on his tariff moves and his administration's handling of information about a military strike in Yemen, a Reuters/Ipsos poll found. A judge will hold a hearing today over whether the Trump administration violated his order temporarily blocking the deportation of alleged Venezuelan gang members under a rarely-invoked 18th century law. Termination notices sent by Elon Musk's cost-cutting team to US Agency for International Development staff were so rife with errors that corrected versions are being issued to avoid affecting pensions and pay, according to five sources. In Pictures   Cherry blossoms in peak bloom. REUTERS/Leah Millis From Washington to London to Tokyo, we look at springtime cherry blossom trees in bloom around the world. See photo gallery And Finally... MI5 delves into the history of spying in a new London exhibition. REUTERS/Toby Melville Britain's spy agency MI5 is revealing some secrets. In collaboration with host The National Archives and prepared over several years by the agency's own archivists, "MI5: Official Secrets" is giving the public the chance to see equipment and methods used over the agency's 115-year history. Read more Sponsors are not involved in the creation of newsletters or other Reuters news content. 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