US President Trump said, “If the European Union works with Canada in order to do economic harm to the USA, large scale tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had,” he said. On Wednesday, Trump unveiled a 25% tariff on imported vehicles, expanding a global trade war and prompting criticism and threats of retaliation from affected US allies. European Commission President Ursula von der Leyen described the move as “bad for businesses, worse for consumers,” while Prime Minister Mark Carney labeled the tariffs a “direct attack” on Canadian workers and said retaliatory measures were being considered. The new levies on cars and light trucks will take effect on April 3, the day after Trump plans to announce reciprocal tariffs aimed at the countries responsible for the bulk of the US trade deficit.
Related coverage in:
- The Hill: Trump threatens tariffs ‘far larger than currently planned’ on EU, Canada
- MarketWatch: Trump is now trying to block Canada’s efforts to boost Europe ties
- NY Times: Rattled by Trump, America’s Allies Shift to Defense Mode
- CBC News: Fear and uncertainty for Ontario autoworkers after 25% tariff


Following the US government’s imposed tariffs on steel and aluminium, Cepi has called on the European Commission to continue negotiations, citing the potential for future tariffs including pulp and paper and aiming to avoid supply chain disruptions. Cepi is currently taking part in a consultation launched by the European Commission. …The confederation asks the Commission to exclude from such EU retaliation list products that risk being in short supply in the EU. …According to Cepi, the EU imports around 900,000 tonnes of pulp per year from the US and close to 600,000 tonnes of paper and board, while the EU exports about 1600,000 tonnes of paper and board to the US and around 350,000 tonnes of pulp. It states that since a multilateral agreement of all major pulp and paper producers in January 2004, there have been no import tariffs on both sides of the Atlantic.
WASHINGTON — A gobsmacked planet is wondering what’s next from President Donald Trump on the tariff spree he’s set in zigzag motion. In recent weeks, Trump has announced punishing tariffs against allies and adversaries alike, selectively paused and imposed them, doubled and then halved some, and warned late in the week that he’ll tax European wine and spirits a stratospheric 200% if the European Union doesn’t drop a 50% tariff on U.S. whiskey. His ultimate stated goal is clear: to revive American manufacturing and win compromises along the way. But people and nations whose fortunes rise and fall on trade are trying to divine a method to his machinations. So far, he’s spurred fears about slower growth and higher inflation that are dragging down the stock market and consumer confidence. “His tariff policy is erratic,” Robert Halver, at Germany’s Baader Bank, said. “So, there is no planning certainty at all.”
KUALA LUMPUR, Malaysia — The proposed classification of two timber species commonly found in Malaysia as unsustainable by the United States and the European Union (EU) under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) will result in the cancellation of Malaysian timber exports to the US and the EU. The Timber Exporters’ Association of Malaysia (TEAM) treasurer Wong Kar Wai said that in addition to impending tariffs, the US and the EU are proposing to classify certain timber species common to Southeast Asia, including Malaysia – namely Shorea, locally known as Meranti, and Apitong, known as Keruing – under CITES despite being sustainably harvested and processed. “Keruing is a special type of timber primarily used for floorboards, with the US being its main market. A major buyer is the US military, which uses Keruing for the flooring of trucks and tanks due to its durability and strength.
BEIJING — UBS analysts became the latest to raise expectations that China’s struggling real estate market is close to stabilizing. “After four or five years of a downward cycle, we have begun to see some relatively positive signals,” John Lam at UBS Investment Bank. …“Of course these signals aren’t nationwide, and may be local,” Lam said. One indicator is improving sales in China’s largest cities. Existing home sales in five major Chinese cities have climbed by more than 30% from a year ago on a weekly basis as of Wednesday. The category is typically called “secondary home sales” in China, in contrast to the primary market, which has typically consisted of newly built apartment homes. UBS now predicts China’s home prices can stabilize in early 2026, earlier than the mid-2026 timeframe previously forecast. They expect secondary transactions could reach half of the total by 2026.
Wood, a traditional and sustainable structural material, has long been used in construction and furniture due to its availability and mechanical properties. However, natural wood’s strength is often insufficient for advanced engineering applications. Now, 




BENGALURU/JAKARTA
The European Union is on track to miss its 2030 carbon sequestration targets for forests. A new report says forest-based carbon removal needs clearer policies and more funding. Ongoing deforestation, land degradation, and unsustainable land-use practices highlight the need for a policy shift. Data from the latest European Environment Agency (EEA) monitoring report, details 28 key indicators assessing targets across sectors, including climate change, biodiversity, pollution reduction, and sustainable resource use. Biodiversity and ecosystem conservation goals are closely tied to forest health. The EU is not on track to meet its targets for increasing forest connectivity or reversing the decline in common bird populations, which reflects broader ecosystem degradation. Despite existing legislation, pressures from agriculture, urban expansion, and resource extraction continue to impact forest ecosystems.