The European Union (EU) expects the US to apply a double-digit tariff rate across the bloc when US President Donald Trump announces a sweeping package of so-called reciprocal duties on April 2.

Europe preparing for double-digit Trump tariffs next week, Bloomberg reports

The European Union estimates that the first wave of Donald Trump’s steel and aluminium tariffs will hit as much as €28 billion (US$29.3 billion or RM129.49 billion) of the bloc’s exports in what would be a massive escalation in the US president’s trade war.

EU sees €28b hit from Trump’s steel and aluminium tariffs

(April 3): French President Emmanuel Macron was quick to respond to US President Donald Trump’s punitive tariffs on the European Union (EU) by urging businesses in the world’s largest trading bloc to halt spending on the US.

Macron issues a corporate call to arms: EU stop investing in US

MORNING CALL: 4/4/25

(April 4): Oversea-Chinese Banking Corp.’s private-banking arm is considering adding between 20 and 30 relationship managers this year for its Greater China team, marking a substantial expansion in one of the world’s major wealth centers.

Financial activities in Hong Kong are picking up...

OCBC’s private bank seeks more staff for greater China expansion

Shares in Ansell reversed course on Friday after having tumbled 25% from their February highs in the previous session, as the company unveiled plans to fully offset the tariff increases through pricing.

Aussie glove maker Ansell stands to lose most with Trump's 'Liberation Day' tariffs

Sweeping tariffs announced on Wednesday by U.S. President Donald Trump pose a significant risk to the global economy at a time when growth has been sluggish, the head of the International Monetary Fund said in a statement on Thursday.

IMF chief says US tariffs represent significant risk to global outlook

(April 3): Intel and Taiwan Semiconductor Manufacturing Co have reached a preliminary agreement to form a joint venture to operate the U.S. chipmaker's factories, the Information reported on Thursday, citing two people involved in the discussions.

TSMC, the world's largest contract...

Intel, TSMC tentatively agree to form chipmaking joint venture — report

Investors braced for further pain across global markets as US stocks and the dollar suffered their worst day in years after Donald Trump’s latest tariff measures sparked a global flight to haven assets.

Investors brace for more pain after US stocks meltdown, S&P 500 had its worst day since 2020

The director-general of the World Trade Organization (WTO) said new tariffs announced by the US along with those introduced at the start of the year could lead to a contraction of around 1% in global merchandise trade volumes in 2025.

WTO says tariffs could bring contraction of 1% in global merchandise trade volumes

Suppliers to Apple Inc are following the iPhone maker lower on Thursday, as the Trump administration’s tariff announcement spurs widespread selling.

Apple is seen as especially vulnerable to the tariffs given it counts China as a major manufacturing hub, and Trump’s country-specific levies included a sharp hike on China.

Apple suppliers tumble as tariffs hit iPhone supply chain

Fitch Ratings downgraded China’s sovereign rating on concerns over weakening finances and rising public debt, just one day after the US imposed higher tariffs on the country. 

The cut takes China’s long-term foreign currency default rating to "A" from "A+" with a stable outlook, Fitch said in a statement on Thursday. China’s Finance Ministry responded with a strong rebuke, describing the decision as biased and not reflective of reality.

Fitch cuts China rating on weakening finances, debt concerns

Heavyweight technology stocks led a broad selloff on Wall Street on Thursday after President Donald Trump's sweeping tariffs on major trade partners ignited fears of an all-out trade war and raised the risk of a global economic recession.

Wall Street plunges as Trump tariffs trigger recession fears

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.

Mayu Global, Tuju Setia, Iskandar Waterfront City, TNB, HHRG

(April 3): Intel and Taiwan Semiconductor Manufacturing Co&nbsp;have reached a preliminary agreement to form a joint venture to operate the U.S. chipmaker's factories, the Information reported on Thursday, citing two people involved in the discussions.

TSMC, the world's largest contract...

Investors braced for further pain across global markets as US stocks and the dollar suffered their worst day in years after Donald Trump’s latest tariff measures sparked a global flight to haven assets.

HHRG Bhd (KL:HHRG) said its 51%-owned subsidiary, MG Furniture Sdn Bhd, has applied for an interim injunction to restrain four directors from interfering in its operations and accessing its premises in Penang.

HHRG furniture unit seeks injunction to bar directors from accessing premises

Ho Hup Construction Company Bhd (KL:HOHUP) on Thursday said its subsidiary, Ho Hup Jaya Sdn Bhd, is offloading two floors in Ho Hup Tower to its substantial shareholder Insas Bhd, for RM13 million, with the proceeds to be used to repay borrowings and for general working capital.

Ho Hup sells Bukit Jalil office units for RM13 mil in related-party transaction

Sweeping tariffs announced on Wednesday by U.S. President Donald Trump pose a significant risk to the global economy at a time when growth has been sluggish, the head of the International Monetary Fund said in a statement on Thursday.

Donald Trump’s decision to boost tariffs on almost every country will deal a blow to China’s economy. But it’s also handing Xi Jinping a rare opening to deepen relationships across the board, including with key US allies in Asia and beyond.

Trump gives China’s Xi a chance to win over world hit by tariffs

Suppliers to Apple Inc are following the iPhone maker lower on Thursday, as the Trump administration’s tariff announcement spurs widespread selling.

Apple is seen as especially vulnerable to the tariffs given it counts China as a major manufacturing hub, and Trump’s country-specific levies included a sharp hike on China.

(April 3): French President Emmanuel Macron was quick to respond to US President Donald Trump’s punitive tariffs on the European Union (EU) by urging businesses in the world’s largest trading bloc to halt spending on the US.

The tiny southern African kingdom of Lesotho has been hit with a 50% reciprocal trade tariff by US President Donald Trump, the highest levy of any single state on his long list of target economies.

Lesotho, which Trump had ridiculed in March as a country "nobody has ever heard of", is a poor and landlocked country with a gross domestic product of just over US$2 billion.

Trump slaps tiny African kingdom of Lesotho with highest tariff of all

PMW International Bhd, which is involved in the trading and manufacturing of concrete products, is seeking to list on the ACE Market of Bursa Malaysia to raise funds to build a new facility in Sarawak.

Concrete products maker PMW International seeks ACE Market listing

Stellantis NV said on Thursday it was temporarily laying off 900 workers at five US facilities after President Donald Trump's tariffs were announced, and temporarily pausing production at an assembly plant in Mexico and one in Canada.

Stellantis says will temporarily lay off 900 US workers following tariff announcement

The US stock market is down almost 10% since President Donald Trump’s inauguration, marking the worst 10-week start under a new president since George W Bush in 2001 during the height of the dot-com selloff.

Trump’s second term brings worst stock market start since 2001

Tenaga Nasional Bhd (TNB) (KL:TENAGA) will implement its TNB Fire Relief Assistance programme, offering a one-off 100% rebate on one month’s electricity bill for customers whose homes were affected by the gas pipeline blaze in Putra Heights, Subang Jaya.

TNB announces one-month electricity bill rebate for Putra Heights fire victims

Britain on Wednesday published a 400-page list of US goods it could include in any possible retaliatory tariff response to President Donald Trump's levies on British imports, even as it pressed ahead with talks to reach an economic deal with Washington.

UK lists thousands of US goods which could face any retaliatory tariffs

Shares in Ansell reversed course on Friday after having tumbled 25% from their February highs in the previous session, as the company unveiled plans to fully offset the tariff increases through pricing.

China on Thursday urged the US to immediately cancel its latest tariffs and vowed countermeasures to safeguard its own interests, after President Donald Trump declared sweeping levies on US trading partners around the world.

China urges US to immediately lift tariffs, vows retaliation

Volkswagen will introduce an "import fee" on vehicles affected by 25% tariffs imposed by US President Donald Trump, The Wall Street Journal reported on Wednesday.

The German automaker has temporarily halted rail shipments of vehicles from Mexico and will hold at port cars arriving by ship from Europe, the report said, citing a memo to retailers.

Volkswagen to introduce 'import fee' on tariff-hit cars — WSJ 

Wall Street economists said the US risks a recession this year and inflation could return to pandemic levels following the Trump administration’s announcement of major tariffs on global trading partners.

Jorge Valero & Alberto Nardelli