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Market Turmoil: S&P 500 Enters Correction Amid Escalating Trade War

                                                                 The stock market faced a sharp downturn on Thursday, with the S&P 500 officially entering correction territory. The index fell 1.4%, marking a 10% decline from its recent high. The Dow Jones Industrial Average dropped 1.3%, while the tech-heavy Nasdaq plummeted nearly 2%. This market turbulence comes as trade tensions escalate. The European Union's retaliatory tariffs on U.S. goods, including a 50% tax on American whiskey, prompted the U.S. administration to threaten a 200% tariff on European wines and spirits. These developments have left investors on edge, fearing the economic repercussions of a prolonged trade war. Adding to the uncertainty, debates over a stop-gap spending bill to prevent a government shutdown have further ...
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Ecuador’s Trade Pivot: Noboa Imposes 27% Tariff on Mexican Imports

Ecuador’s President Daniel Noboa has announced a 27% tariff on Mexican goods, a move aimed at ensuring fair treatment for domestic companies amid ongoing trade imbalances. Speaking on the social platform X, Noboa reiterated his openness to expanding trade and even signing a free trade agreement with Mexico—provided that current abuses are addressed. Until such an agreement is reached, the tariff will remain in effect.

The decision follows heightened diplomatic tensions that arose last year after relations between Ecuador and Mexico soured over a controversial raid on the Mexican embassy in Quito to arrest a former Ecuadorean vice president. The strained relationship has left Mexico’s economy ministry yet to comment on the new measure.

Notably, this announcement comes just days before Ecuador’s first-round general election, in which Noboa is seeking re-election. The tariff is seen as both a protective economic measure and a politically strategic move to appeal to local industries that have long argued for fairer trade practices.


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