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📰 Trump unveils ‘Liberation Day’ Tariffs

📰 Trump unveils ‘Liberation Day’ Tariffs

and Syria unveils transitional government

Billy Robinson
April 06, 2025

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Hello and welcome back.

This week’s developments include South Korea’s top court upholding the impeachment of suspended President Yoon, Syria unveiling a transitional government, and the U.S. ramping up its rhetoric toward Iran amid renewed nuclear tensions.

The main story, however, is U.S. President Donald Trump’s sweeping ‘Liberation Day’ tariffs, which have triggered global economic upheaval and raised fears of constitutional crisis at home.

This, and more below ⤵️

Top 5 Stories

1️⃣ 🇫🇷 French court bars Marine Le Pen from office for 5 years after embezzlement conviction: A Paris court has barred Marine Le Pen from holding public office for five years, effectively ending her 2027 presidential bid and throwing the National Rally into turmoil. Convicted of misusing €4.1m in EU funds between 2004 and 2016, Le Pen received a four-year prison sentence—two suspended, two under house arrest—plus a €100,000 fine. Though the court found no personal enrichment, it placed her at the centre of a scheme that funded her party through fake parliamentary jobs. While she plans to appeal, the sentence’s immediate enforcement and the lack of a party contingency have shaken the far right’s momentum, leaving her protégé Jordan Bardella—young, popular, but unprepared—as the RN’s most viable alternative.

2️⃣ 🇺🇸 U.S. stock market has worst day since Covid following White House tariffs: The New York Stock Exchange recorded its steepest losses since the early pandemic era, closing Thursday with a sell-off reminiscent of June 2020. The S&P 500 fell 4.9%, the Dow dropped 4%, and the Nasdaq plummeted 5.9%—its worst single-day decline since March 2020. The sharp downturn, which erased trillions in market value, reflects mounting investor concern that President Donald Trump’s sweeping tariffs could trigger a recession. Despite the turmoil, Trump struck a defiant tone, likening the economic shock to major surgery. “The markets are going to boom. The stock is going to boom. The country is going to boom,” he told reporters, insisting the tariff measures are part of a deliberate strategy that will ultimately strengthen the economy.

3️⃣ 🇭🇺 🇮🇱 Hungary announces withdrawal from ICC: Hungary has announced its decision to withdraw from the International Criminal Court (ICC), with the Orbán government initiating the formal exit process in accordance with legal protocols. The move coincides with Israeli Prime Minister Benjamin Netanyahu’s visit to Budapest, after he was issued an ICC arrest warrant for alleged war crimes in Gaza. Prime Minister Viktor Orbán had previously dismissed the warrant’s relevance in Hungary, signalling his government's intent to disregard ICC obligations. As a member state, Hungary was technically required to arrest individuals under ICC warrants—an obligation it now appears poised to reject entirely.

4️⃣ 🇲🇲 🇺🇳 Prevailing conflict and Junta governance hinders Myanmar earthquake response: A powerful 7.7-magnitude earthquake struck central Myanmar on 28 March, killing at least 2,700 people and levelling parts of Mandalay, Sagaing, and Naypyitaw. The epicentre, just north of Sagaing and near Mandalay, triggered severe aftershocks and left buildings crumbling and hospitals overwhelmed. With bridges, roads, and airports damaged, relief efforts have stalled, and many survivors remain trapped or homeless in extreme heat. The military, largely absent from rescue efforts, faces public distrust following years of repression, while rural areas under armed resistance remain cut off from communication and aid. Reconstruction costs are expected to reach tens of billions of dollars—funds the junta is unlikely to access given global isolation and the ongoing civil conflict.

5️⃣ 🇮🇱 🇵🇸 🇸🇾 Israeli airstrikes kill medics, UN staff, and Children in Gaza; Syria also bombed: At least 77 Palestinians were killed on Wednesday alone as Israeli airstrikes targeted civilian infrastructure, including an UNRWA clinic in Jabalia, and a school sheltering displaced families, in what legal experts regard egregious violations of international law. The assault follows strikes on medical personnel and UN staff, while over 300 children are estimated to have been killed since the breakdown of the ceasefire. Israeli Defence Minister Israel Katz announced the military would seize "large areas" of Gaza to establish expanded security zones, intensifying the deadly campaign. Gaza’s health ministry reported over 1,000 deaths since Israel shattered the ceasefire last month, while Syria condemned parallel Israeli strikes in Damascus and Hama, urging the global community to halt what it called continued violations of international law.

Major Story

🇺🇸 🇻🇳 🇹🇭 🇲🇾 🇪🇺 TRUMP’S TARIFF BLITZ RISKS GLOBAL ECONOMIC DISARRAY AND CONSTITUTIONAL CRISIS

In a stunning reversal of decades-long bipartisan trade policy, President Trump announced sweeping tariffs on nearly all U.S. imports, abandoning the postwar global economic order in favour of protectionism. Invoking emergency powers, he imposed a universal 10% duty on all goods entering the U.S., escalating to as much as 49% for select countries. This marks the most aggressive use of tariffs since the 1930s, framed by Trump as retaliation against alleged trade abuses—despite a lack of economic consensus supporting his claims.

Winners, Losers, and Legal Minefields

While Canada and Mexico were spared new tariffs, others like Vietnam, Thailand, and Malaysia—key players in recent supply chain realignments—faced some of the highest rates. Critics note that the administration's tariff calculations lack credible economic methodology. Moreover, Trump’s use of emergency authorities to circumvent Congress poses a constitutional dilemma—seen as an ‘egregious violation’ of the constitutional separation of powers—triggering Senate pushback and the threat of legal challenges.

Global Fallout and Retaliation Risks

The EU and other major economies are expected to retaliate, with American farmers and tech giants likely bearing the brunt. Trump’s belief that tariffs permanently incentivise domestic production signals little room for negotiation. Businesses, lawmakers, and voters are already expressing alarm as costs rise and supply chains face chaos.

A Crisis of Governance

Beyond economics, this moment raises profound questions about presidential power, democratic institutions, and the U.S. role in the world, writes Council on Foreign Relations senior fellow Edward Alden If unchecked, Trump’s actions risk not only destabilising global trade but eroding the very foundations of constitutional governance. Whether the courts, Congress, or the public can check this trajectory remains to be seen—but history warns that trade wars rarely end well.

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Other News

1️⃣ 🇺🇳 🇪🇺 🇫🇷 🇺🇸 Von der Leyen calls tariffs ‘a major blow to world economy,’ Macron suggests freezing U.S. investments: European leaders have strongly criticised U.S. President Donald Trump’s sweeping tariff measures, warning of serious economic fallout and urging renewed negotiations to avoid a trade war. French President Emmanuel Macron condemned the tariffs as “brutal,” suggesting French investment in the U.S. be paused, while German and Spanish leaders labelled the move an attack on global trade. European Commission President Ursula von der Leyen called the measures a “major blow” to global markets and confirmed that the EU is preparing countermeasures, including retaliatory tariffs on iconic U.S. goods. With 70% of EU exports to the U.S. affected and an €80bn impact projected, Brussels is also considering action against American tech and banking sectors should talks fail.

2️⃣ 🇮🇷 🇺🇸 Trump escalates rhetoric against Iran amid renewed nuclear tensions: U.S. President Donald Trump has issued a stark ultimatum to Iran, warning that failure to agree to a nuclear deal would result in devastating airstrikes “like they’ve never seen before.” His comments mark an intensification of earlier threats and coincide with reports of B-2 stealth bombers deployed to Diego Garcia. Iran’s Supreme Leader, Ayatollah Ali Khamenei, dismissed the likelihood of an attack but promised forceful retaliation if provoked. While senior figures like Secretary of State Marco Rubio favour a hardline stance, Trump’s advisers, including Steve Witkoff and Elon Musk, appear open to indirect diplomacy. Tehran has rejected direct talks, citing mistrust from Trump’s 2018 withdrawal from the previous nuclear deal.

3️⃣ 🇭🇹 🇺🇳 Armed gangs attack Mirebalais, central Haiti, extending power beyond Port-au-Prince: Heavily armed gangs overran Mirebalais in central Haiti on Monday, storming a prison and releasing over 500 inmates, according to local reports. Videos showed gunmen celebrating as crowds chanted, “They can’t stop us.” Schools were closed, and residents fled as homes and buildings were torched. The attackers, linked to gangs like the Taliban and 400 Mawozo—both part of the "Viv Ansanm" coalition—reportedly wore red shirts bearing gang names. These groups have intensified efforts to seize territory, with simultaneous strikes on nearby Saut-d’Eau prompting urgent appeals from police unions. Analysts warn the gangs aim to stretch security forces thin by opening multiple fronts, ultimately to topple the government and consolidate control across Haiti, where 85% of Port-au-Prince is already under their sway.

4️⃣ 🇸🇾 Syria forms transitional government: Three months after Bashar al-Assad’s fall, interim President Ahmed al-Sharaa has unveiled Syria’s transitional government to stabilise the country and bridge internal divides. The 22-member cabinet includes Kurds, Alawites, Christians, and Druze, though political parties are banned and HTS retains control of key ministries. Al-Sharaa’s outreach to Shia clerics and appointment of Sheikh Osama al-Rifai as Grand Mufti aim to bolster legitimacy while distancing Syria from Iranian and Hizbollah influence. The SDF, initially excluded, has opened dialogue with the new administration, but major questions remain over power-sharing, inclusivity, and the government’s ability to foster lasting unity.

5️⃣ 🇰🇷 Suspended president Yoon’s impeachment upheld by Korean court: South Korea’s Constitutional Court unanimously upheld the impeachment of President Yoon Suk Yeol, ruling that his December declaration of martial law was unconstitutional and posed a severe threat to democratic governance. Acting President Han Duck-soo will remain in office until elections are held within 60 days, promising stability and adherence to the rule of law during the transition. In a written message, Yoon expressed regret and gratitude, calling his presidency an honour while apologising for failing public expectations. The court declared Yoon’s actions a grave abuse of power that disrupted national stability, violated constitutional limits, and warranted his removal; he now faces separate criminal charges of insurrection.