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4 weeks ago | minutemirror.com.pk | Seerat Fatima

Asian auto stocks dropped on Thursday following U.S. President Donald Trump’s announcement of a 25% tariff on imported vehicles, escalating the global trade conflict and prompting retaliation threats from U.S. allies. The new tariffs, which will take effect on April 3, target cars and light trucks and come alongside existing duties on steel, aluminum, and goods from China, Canada, and Mexico. Trump plans to unveil additional reciprocal tariffs aimed at countries responsible for the U.S. trade deficit the day before. In 2024, the U.S. imported $474 billion worth of automotive products, including $220 billion in passenger cars. Key suppliers included Mexico, Japan, South Korea, Canada, and Germany—many of whom are long-time U.S. allies. European Commission President Ursula von der Leyen criticized the move, stating it was harmful to both businesses and consumers, while Canadian Prime Minister Mark Carney called it a “direct attack” on Canadian workers and announced potential retaliation measures. “We will defend our workers, companies, and country together,” Carney vowed. In Japan, automakers like Toyota and Mazda saw stock declines, as the auto sector makes up a significant portion of the country’s exports to the U.S. Shares of South Korean automakers Hyundai and Kia also fell sharply. Japanese Prime Minister Shigeru Ishiba promised to explore all options in response to the tariffs. Brazilian President Luiz Inacio Lula da Silva warned that Trump’s additional tariffs could hurt the U.S. economy by driving up prices and potentially triggering inflation. He also criticized protectionism and announced plans to file a complaint with the World Trade Organization over a steel tariff imposed on Brazil. You Might Also Like Elon Musk warns Ukraine to stop fighting or lose Starlink access Pakistani textile industry records excellent growth with 19% rise in apparel exports WHO Chief condemns deadly drone strike on Sudan hospital, urges end to attacks on healthcare Shan Masood questions accuracy of hawk-eye technology Trump has repeatedly used tariffs as a tool to offset tax cuts and revive the U.S. industrial sector, though trade experts warn the move may lead to higher prices and reduced demand in the global auto market, already facing uncertainty from ongoing tariff threats. The United Auto Workers (UAW) union, which has long opposed free trade agreements, praised the new tariffs, claiming they were a step forward for U.S. autoworkers and communities. “Now it’s up to automakers to bring back good union jobs to the U.S.,” said UAW President Shawn Fain. Following the announcement, shares of U.S. automakers, which rely heavily on supply chains in Mexico and Canada, fell in after-hours trading. U.S. equity futures also dropped, indicating a lower market opening. Brad Setser, a former U.S. Treasury official, noted that the new tariffs could increase car prices and reduce sales in the U.S. due to the heavy reliance on imported parts. The Center for Automotive Research echoed this, warning that the tariffs would likely lead to higher prices, fewer consumer choices, and potential job losses in the U.S. auto industry. Despite the tariffs, Trump’s directive includes temporary exemptions for auto parts while his administration works out the details. Since taking office, Trump has introduced and delayed various tariffs, including those on Canadian and Mexican goods and Chinese imports. Tesla, the electric car company led by Elon Musk, may also be affected, despite the President suggesting the tariffs would have a neutral impact on the company. Musk later stated on social media that the tariff effects on Tesla would still be significant.

2 months ago | minutemirror.com.pk | Saeed Minhas

In Pakistan’s high-stakes political drama, Imran Khan has played many roles—national cricket hero, philanthropist, populist prime minister, and, most recently, political prisoner. But with Donald Trump’s stunning return to the White House, the script has taken an unexpected turn, offering Khan a potential political lifeline.

2 months ago | minutemirror.com.pk | Saeed Minhas

Narendra Modi’s high-stakes visit to Washington has concluded, and the world is taking stock of what it means for India, the U.S., and the shifting global order. While the optics of the visit showcased handshakes, strategic agreements, and joint statements about strengthening U.S.-India relations, the real question remains: did Modi secure a diplomatic win, or did he walk away with more liabilities than gains?

2 months ago | minutemirror.com.pk | Saeed Minhas

“The strong do what they can, and the weak suffer what they must.” — ThucydidesDonald J. Trump is back in the White House, and his second term has already begun in a storm of executive orders, tariff wars, and threats that have left allies scrambling and adversaries recalibrating. If his first term was a political earthquake, his return is shaping up to be an unrelenting aftershock—one that may redefine America’s global standing, for better or worse.

Jan 16, 2025 | minutemirror.com.pk | M A Hossain

As the transition of power in Washington looms, the Biden administration is set to leave President-elect Donald Trump with an unresolved question of foreign policy: what to do with the billions of dollars in unspent Ukraine aid. The Pentagon recently confirmed that several billion dollars remain in the Presidential Drawdown Authority fund, a key mechanism through which the US has been sending military assistance to Ukraine amid its ongoing conflict with Russia.