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      Hong Kong Suspends Packages to the U.S., Wading Into the Trump Trade War

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      The move comes before President Trump’s planned imposition of new tariffs on small packages sent to the United States from Hong Kong and China.Wading into the trade war, Hong Kong said on Wednesday that its postal service will no longer send packages to the United States.It is the city’s first move in a spiraling tit-for-tat trade war between China and the United States that is reordering global shipping routes.President Trump this month ordered the closure of a loophole that allowed retailers to send clothes and goods from China and Hong Kong, a special administrative region, to the United States without having to pay tariffs. After that change takes effect on May 2, United States Customs and Border agents will begin to collect previously exempted tariffs on shipments worth less $800.Hongkong Post said it would immediately stop accepting surface postal items containing goods to the United States. It said it was taking the action in response to President Trump’s tariffs.“The U.S. is unreasonable, bullying and imposing tariffs abusively,” the postal service said in a statement posted to the Hong Kong government’s website.The postal service said it would contact senders who posted packages with goods that have not yet been shipped, to return the packages and refund their postage.“The public in Hong Kong should be prepared to pay exorbitant and unreasonable fees due to the U.S.’s unreasonable and bullying acts,” it said. More

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      JD Vance Drops Ohio State’s Championship Trophy During White House Celebration

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      Vice President JD Vance dropped the College Football Playoff national championship trophy during an event on the White House South Lawn on Monday, an ill-timed fumble that he laughed about later after it had spread across social media.As the ceremony honoring the champion Ohio State Buckeyes came to an end, Mr. Vance — a former senator from Ohio who graduated from Ohio State — tried to lift the trophy, which was on a table onstage.TreVeyon Henderson, a Buckeyes running back, stepped in to help, grabbing the top of the trophy as Mr. Vance lifted the base. As the men hoisted it off the table, the trophy split in two and Mr. Vance dropped the base, which fell to the ground. Mr. Henderson and another player managed to hold onto the top of the trophy.According to the College Football Playoff website, the trophy consists of separate components — a 12-inch bronze base, and a 26-and-a-half-inch trophy made from 24-karat gold, bronze and stainless steel. Together, the pieces weigh 50 pounds, the Ohio State Athletic Department said on social media in January, three days after the Buckeyes defeated Notre Dame to win the title.After the base fell, some in the crowd gasped, while others laughed or clapped. Mr. Vance joked about the incident on social media.“I didn’t want anyone after Ohio State to get the trophy so I decided to break it,” Mr. Vance said.It was hardly the first championship trophy calamity.In 2006, after the tennis star Maria Sharapova won the U.S. Open, the top of the trophy popped off when she hoisted it above her head. (The announcer Dick Enberg called it her first unforced error of the night.)In 2011, as the soccer club Real Madrid celebrated its Copa del Rey victory over Barcelona, a player dropped the trophy from the upper level of an open double-decker bus, which ran over the cup and smashed it into pieces.And two years ago, at a ceremony after the Hungarian Grand Prix, the British racing driver Lando Norris slammed a bottle of sparkling wine on a table onstage, sending the trophy of the race winner, Max Verstappen, tumbling to the ground. More

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      Freed From Prison by Trump and Now Facing the Prospect of Going Back

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      At a hearing this week, witnesses described behavior by Jonathan Braun that could result in his being locked up again. In the early hours of Feb. 15, Jonathan Braun, a violent felon granted clemency by President Trump, was agitated.After getting into a heated argument with his wife and parents and kicking them out of his cavernous Long Island home, Mr. Braun knocked on the door of his live-in nanny under the pretext of retrieving his phone, which was charging in her room.What followed, according to the former nanny’s testimony on Friday, was a terrifying, degrading encounter. Mr. Braun, shirtless, entered the room, pulled her onto her bed and put her into a headlock, she said. Then he pushed her hand over his bare genitals as he groped her breasts, telling her he had always wanted to have intercourse with her.The nanny said she had wrested herself away from his grasp, escaped to her bathroom and locked herself in.Coming on the second day of a hearing that will determine whether Mr. Braun returns to federal prison, her testimony offered one of the most vivid depictions of the depraved behavior he is accused of engaging in. There were no defense witnesses.Mr. Trump commuted Mr. Braun’s 10-year sentence for drug trafficking at the end of his first term in office. The commutation came after Mr. Braun’s family used its close ties to the father of Jared Kushner, Mr. Trump’s son-in-law and a senior White House adviser at the time, to secure Mr. Braun’s release.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Tesla U.S. Sales Plunge as G.M. and Others Make Gains

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      Tesla’s sales in the United States fell almost 9 percent in the first three months of the year even as the overall market for electric vehicles grew, according to data compiled by a research firm.Car buyers are moving away from Teslas and toward models like General Motors’ Chevrolet Equinox electric vehicle, which starts at around $35,000 and can travel more than 300 miles on a charge, Cox Automotive, the research firm, said in a report.Sales of all electric vehicles in the United States rose 11 percent during the first quarter to about 300,000 cars and light trucks, Cox said, much faster than the overall auto market, which has been flat. About 8 percent of new domestic car sales were electric, Cox said, a slight increase from 2024.“Despite many obstacles — and what you may read elsewhere — electric vehicle sales continue to grow at a healthy pace in the U.S. market,” the firm said.Tesla, whose chief executive is Elon Musk, still sells far more electric cars in the United States than any other automaker, accounting for 44 percent of the market, according to Cox. But its share has fallen from 51 percent a year earlier.The decline in Tesla’s U.S. sales mirror a global slump. The company said this month that deliveries during the quarter in all markets fell 13 percent to 337,000 vehicles.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      As Trump Upends Global Trade, Europe Sees an Opportunity

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      President Trump has big ambitions for the global trading system and is using tariffs to try to rip it down and rebuild it. But the European Union is taking action after action to make sure the continent is at the center of whatever world comes next.As one of the globe’s biggest and most open economies, the E.U. has a lot on the line as the rules of trade undergo a once-in-a-generation upheaval. Its companies benefit from sending their cars, pharmaceuticals and machinery overseas. Its consumers benefit from American search engines and foreign fuels.Those high stakes aren’t lost on Europe.Ursula von der Leyen, the president of the European Commission, the E.U.’s executive arm, has spent the past several weeks on calls and in meetings with global leaders. She and her colleagues are wheeling and dealing to deepen existing trade agreements and strike new ones. They are discussing how they can reduce barriers between individual European countries.And they are talking tough on China, trying to make sure that it does not dump cheap metals and chemicals onto the European market as it loses access to American customers because of high Trump tariffs.It’s an explicit strategy, meant to leave the economic superpower stronger and less dependent on an increasingly fickle America. As Ms. von der Leyen and her colleagues regularly point out, the U.S. consumer market is big — but not the be-all-end-all.“The U.S. makes up 13 percent of global goods trade,” Maros Sefcovic, the E.U.’s trade commissioner, said in a recent speech. The goal “is to protect the remaining 87 percent and make sure that the global trade system prevails for the rest of us.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Threatens More Tariffs and Sanctions on Mexico Over Long-Running Water Dispute

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      President Trump on Thursday threatened additional tariffs and other sanctions against Mexico over a long-running water dispute in a potential escalation of tensions with one of America’s biggest trading partners.In a social media post, Mr. Trump accused Mexico of failing to provide 1.3 million acre-feet of water — or more than 420 billion gallons — under a 1944 treaty mediating the distribution of water from three rivers, the Rio Grande, the Colorado and the Tijuana.“Mexico has been stealing the water from Texas farmers,” Mr. Trump said, adding that “we will keep escalating consequences, including TARIFFS and, maybe even SANCTIONS, until Mexico honors the Treaty, and GIVES TEXAS THE WATER THEY ARE OWED!”Responding to Mr. Trump’s post, Mexico’s president, Claudia Sheinbaum, acknowledged that her country had fallen short of its treaty commitments, saying that a yearslong drought had significantly hindered its ability to provide the full amount of water the agreement called for. She said that her government had sent “a comprehensive proposal” to U.S. diplomats to deliver water to Texas and find a solution satisfactory to both countries.“To the extent of water availability, Mexico has been complying,” she wrote on social media. “I am sure that, as in other matters, an agreement will be reached.”Mexico has struck a conciliatory tone in negotiations with the Trump administration, prioritizing dialogue over threats and a cool-headed approach over retaliatory measures. The strategy seems to have earned Ms. Sheinbaum some respect from Mr. Trump, who earlier on Thursday called her “a terrific person” and “a fantastic woman.”There have been longstanding tensions over water between Mexico and the United States. In 2020, those tensions exploded into violence, with Mexican farmers seizing control of a dam in the border region in an effort to shut off water deliveries to the United States.Rising temperatures and long droughts have made water more scarce, making the water from rivers Mexico and the United States share all the more valuable.According to data provided by the International Boundary and Water Commission, which mediates water disputes between the two countries, Mexico has fallen well short of its treaty commitments on water delivery in the last five years. Between October 2020 and October 2024, Mexico provided just over 400,000 acre-feet of water, far less than the roughly 1.4 million acre-feet called for under treaty stipulations. The debt has only grown since. More

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      Delta Warns Trump’s Trade War Could Lead to a Recession

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      Delta Air Lines on Wednesday became one of the largest American companies to warn that President Trump’s escalating trade war was weighing on its business and the global economy.In an interview with CNBC on Wednesday, Delta’s chief executive, Ed Bastian, said a recession was possible as companies pulled back spending.“Everyone’s being prepared for uncertainty,” he said, “if that continues, and we don’t get resolution soon, we will probably end up in a recession.”Airlines are highly sensitive to changes in the economy because air travel is among the first things that individuals and businesses can cut back on when they are worried about their paychecks or profits.Mr. Bastian expressed shock at the speed at which the trade tensions had taken the wind out of the economy.“We’re in uncharted, unprecedented uncertainty, when you look at what’s happened and the pivot so quickly to this self-inflicted situation,” he said.Mr. Bastian’s comments are at odds with those of the Treasury secretary, Scott Bessent, who said on Wednesday that chief executives had told him the economy was solid.In its first-quarter earnings release, Delta said it no longer expected its business to grow in the second half of the year and added that a lack of the clarity about the economy prevented it from telling investors how much money it expects to make this year.Mr. Bastian said summer bookings were in line with last year. Some customs data show a sharp decline in foreigners entering the United States. Mr. Bastian said around 80 percent of Delta’s international bookings are made in the United States. “U.S. consumers are looking to go somewhere, particularly to try to get a reprieve from all the craziness we’re going through,” he said.Delta’s shares have fallen around 40 percent this year. More

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      Another Rocky Day in Markets: Stocks in Asia Resume Their Slide

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      With the S&P 500 nearing a bear market, shares in Asia decline as China and other major U.S. trading partners await the start of significantly higher tariffs.Market turmoil extended into Wednesday’s trading session in Asia, as stocks across the region faced renewed downward pressure amid the impending imposition of significantly higher taxes on imports to the United States.Benchmark indexes in Japan and Hong Kong opened down more than 3 percent on Wednesday morning, following a day on Wall Street when stocks whipsawed. The S&P 500 ended near a bear market, which is a 20 percent drop from a recent peak — a symbolic, and relatively rare and worrisome threshold for investors.Stocks slumped across Asia in early trading on Wednesday. The declines were less pronounced in mainland China, South Korea and Taiwan, where indexes fell between around 1 and 2 percent.President Trump uprooted investors last week with the announcement of tariffs on countries across the world. Significantly higher American import taxes on goods from dozens of other countries were set to take effect at 12:01 a.m. ET on Wednesday.After Tuesday’s drop, the S&P 500 closed 18.9 percent below its mid-February record, having plunged more than 12 percent just in the days since Mr. Trump announced his new tariffs. S&P 500 futures, which let investors bet on the direction of the index when it resumes trading in New York, were about 1 percent lower.Administration officials appeared to leave the door open for negotiations that could ultimately defuse the trade war, citing the fact that dozens of countries had approached the U.S. government in recent days to strike deals. But White House officials have sought to set a high bar for what the president is willing to accept, marking a shift in tone after Mr. Trump and his aides initially signaled they would not haggle over tariffs at all.“If they come to us with really great deals that advantage American manufacturing and American farmers, I’m sure he’ll listen,” Kevin Hassett, the director of the White House National Economic Council, said in an interview on Fox News.But, he added, “after decades and decades of mistreating American workers, it’s going to be tough to get him to decide to really come to the table and sign on the dotted line.”Since Mr. Trump’s announcement last week of new tariffs, including a base tax of 10 percent on virtually all American imports, countries have responded with tariffs of their own on U.S. goods, or with threats of retaliation.China, the world’s second-largest economy, retaliated with 34 percent tariffs on American goods that are set to take effect at noon ET on Wednesday.Earlier this week, Japan emerged as the first major economy to secure priority tariff negotiations with the Trump administration. The news triggered a brief surge in Tokyo-listed stocks before they resumed their decline on Wednesday. More