Trump announces fresh round of tariffs

President Trump is eyeing increased tariffs of 25 per cent on imports of cars, drugs and semi-conductors and he announced he would provide further details in April. Ukraine peace talks between the U.S. and Russia end in Riyadh with both sides pledging increased cooperation. President Trump slams Ukrainian President Volodomyr Zelenskyy’s call to be included in negotiations. In banking news, Europe’s largest lender HSBC announces cost cuts of $1.8bn over the next two years as well as a new $2bn buyback. The RBNZ slashes rates by 50bps for the third consecutive time in an attempt to resuscitate growth.