White House clarifies US tariffs on China now 145% - business live

Former US treasury secretary Janet Yellen has said that the recent rise in Treasury yields likely played a role in former president Donald Trump’s decision to pause planned tariffs.In an interview with CNN International, Yellen, who is also a former Federal Reserve chair, criticized Trump’s economic approach, calling it the “worst self-inflicted wound” an administration has imposed on an otherwise well-functioning economy.Yellen also expressed concern over the direction of US economic policy under Trump, warning that such measures have increased the likelihood of a recession.The overall US tariff rate on Chinese imports has risen to 145%, a White House official has confirmed to CNBC.The increase follows a new executive order from Donald Trump raising tariffs to 125%, up from 84%

Trump’s tariffs are rattling Australian markets. Here’s what not to do to protect your investments

Global share markets, including in Australia, have recorded large swings ever since Donald Trump released his “liberation day” tariff plans.Australia’s benchmark S&P/ASX 200 witnessed its steepest one-day fall on Monday in five years, before registering its biggest one-day rise in two years on Tuesday. It then fell sharply on Wednesday, before rebounding strongly on Thursday, to around last week’s levels.If you are anxious about the volatile market and the impact it’s having on your investment or retirement portfolio, here are some common human reactions that need to be managed to avoid making a volatile situation worse.Investors are grappling with a fundamental question over whether the market ruptures are a temporary setback or a structural shift, which means shares need to be completely repriced

Apple said to be flying iPhones from India to US to avoid Trump tariffs

Apple is reportedly chartering cargo flights to ferry iPhones from its Indian manufacturing plants to the US in an attempt to beat Donald Trump’s tariffs.The tech company has flown 600 tonnes of iPhones, or as many as 1.5m handsets, to the US from India since March after ramping up production at its plants in the country, according to Reuters.Trump’s threatened tariffs of 26% on Indian imports are on hold for about three months after the US president called a 90-day pause, but he has announced that tariffs on goods from China – where Apple assembles most of its iPhones – will be subject to a levy of 145%.A source familiar with the planning behind the move told Reuters Apple “wanted to beat the tariff”

AI avatar generator Synthesia does video footage deal with Shutterstock

A $2bn (£1.6bn) British startup that uses artificial intelligence to generate realistic avatars has struck a licensing deal with the stock footage firm Shutterstock to help develop its technology.Synthesia will pay the US-based Shutterstock an undisclosed sum to use its library of corporate video footage to train its latest AI model. It expects that incorporating the clips into its model will produce even more realistic expressions, vocal tones and body language from the avatars.“Thanks to this partnership with Shutterstock, we hope to try out new approaches that will … increase the realism and expressiveness of our AI generated avatars, bringing them closer to human-like performances,” said Synthesia

The Masters 2025: day one at Augusta – live

Stephan Jaeger grabs a share of the lead, hitting the turn in 32 after knocking his approach from 140 yards at the gentle dogleg-left 9th to ten feet. With Jordan Spieth dropping a shot at 4, there’s now a little bit of separation at the top.-4: Rai (10), Jaeger (9) -2: Niemann (7), Scheffler (6), Hatton (5)Scottie Scheffler very nearly rakes in another monster, this time from the fringe at the par-three 6th. Just a tap-in par. Just! What Bob MacIntyre would have given for one of those

Grand National runner Celebre d’Allen died with severe respiratory infection

A post-mortem examination of Celebre d’Allen, who died on Monday evening having collapsed on the run-in during the Grand National at Aintree on Saturday, found that while his “exercise-associated episode” did not lead directly to the 13-year-old’s death, the gelding’s immune system had been severely compromised, probably by over-exertion in the race, and he died as the result of a severe bacterial respiratory infection which had not been present in blood tests taken on Saturday morning.The post-mortem, which was carried out at Rossdales, the leading veterinary practice in Newmarket, concludes that Celebre d’Allen contracted pleuropneumonia after Saturday’s race, while “the subsequent onset of sepsis or endotoxaemia [the release of harmful substances into the bloodstream from bacteria was] likely to have been a key factor in the cause of death”.The report also found that “bloods taken on Monday indicated a severely compromised immune system. These indications had not been present in the bloods taken on the day of the race. This indicates that this issue emerged subsequent to the race and the exercise-associated episode