International News 20 March 2025
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Chinese Government Media Warns the U.S. of High Tariffs from Other Countries
Chinese government media, Global Times, has issued a warning about the potential damage U.S. tariffs could cause to the American economy. This concern arises from the expectation that other countries will retaliate with high tariffs on American goods. This will further escalate the trade conflict and could lead to possible actions taken by Beijing as additional duties loom over the U.S. President Donald Trump's decision to impose tariffs on various countries, including China, Canada, Mexico, and the European Union, has triggered this trade dispute. If tariffs begin to take effect on April 2, China is likely to respond with countermeasures. Global Times states that retaliating with high tariffs on U.S. exports is a course of action many countries may take. In previous rounds of retaliatory actions, China imposed duties on U.S. agricultural and food exports, placed restrictions on exports and investments in U.S. companies, and suspended soybean and timber import licenses.
This is Putin's Retaliatory Promise to Western Businessmen Who Strongly Reject Russia
Russian President Vladimir Putin has announced that Western companies that left Russia will not be allowed to buy back the businesses they abandoned at a low price or fill the vacancies left by local businesses. This comes as hundreds of Western companies have exited Russia since Moscow's involvement in Ukraine in 2022. Some companies, such as Renault, McDonald's, and Henkel, had agreed upon buyback options when they left, although the details of these agreements have largely been undisclosed. Putin has asked the government to closely monitor Western companies with buyback agreements and assess each case carefully. While Putin respects companies that continue to collaborate with Russia, he has a different perspective on companies that refuse to exit.
Boycott Actions Cause Tesla's Stock to Plunge
Tesla's stock price has experienced a decline, dropping nearly 50% since its peak in December 2024. In recent days, Tesla's stock value has fallen by about 9%. Although there has been a slight increase in value, it has not been enough to offset the overall drop of approximately 40% since the beginning of the year. Tesla CEO Elon Musk has seen a significant decrease in his net worth, approximately $121 billion, partly due to Tesla's earnings. Board members have also recently sold shares worth millions of dollars. Tesla's vehicle sales abroad have declined, with a 76.3% drop in Germany in February 2025 compared to the previous year. Investors have become uncertain about Musk's political career, and Tesla's stock performance has suffered as a result. Competitors from China, such as BYD and Xpeng, have gained attention due to their well-performing electric cars at more affordable prices.
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