world

Summary

The U.S. imposed a 29% tariff on Norfolk Island, nearly triple the 10% rate applied to the rest of Australia, with no explanation from the White House.

Australian Prime Minister Anthony Albanese expressed confusion, noting Norfolk Island’s limited economic activity. The territory has a population of about 2,000 and minimal exports.

Other remote territories like Christmas Island and Heard and McDonald Islands also received tariffs, though the latter are uninhabited.

Summary

Global leaders criticized Trump’s new tariffs, which range from 10% to 49%, warning of trade wars and economic fallout.

The UK and Italy urged negotiation, while Brazil passed a reciprocity bill. China and South Korea vowed countermeasures.

Australia and New Zealand rejected Trump’s logic, citing existing trade deals and low tariffs. Norfolk Island was baffled by a 29% duty despite having no exports.

Financial markets dropped, oil and bitcoin sank, and leaders warned of inflation. Analysts say Trump risks fracturing global trade with little to gain economically.

The plan would replace the $600 million in subsidies Denmark gives the island each year

The Donald Trump administration is reportedly considering giving about $10,000 to each Greenland resident as part of its plan to annex the island.

The possibility would seek to replace the $600 million Denmark gives the territory in subsidies every year, and has stopped being mere rhetoric to become official U.S. policy, according to The New York Times.

The outlet detailed that the plan already includes several cabinet departments and that the White House’s National Security Council has met several times to advance on it, recently sending specific instructions to different offices.