Trump hits pause on trade war. President Donald Trump reversed course in the global trade war he launched just a week ago, announcing in a social media post a 90-day pause on new tariffs against every country but China. (Politico)

Will the new German government fix the economy? Germany’s economy is in the doldrums. The new government wants to change this. But leading economists are skeptical about whether they have found the right recipe. (DW)

China raises tariffs on US imports to 125%. The move is in response to the U.S. increasing its duties on goods from China to 125%, according to the Ministry of Finance, which said the U.S. government’s actions violate trade rules. (Supply Chain Dive)

UK to pass emergency laws to take control of British Steel. Britain will pass emergency laws on Saturday to keep British Steel’s blast furnaces open, aiming to save the country’s steel-making capability and thousands of jobs, Prime Minister Keir Starmer said. (Reuters)

Ground delivery costs projected to climb despite discounting push. Ground delivery costs are forecasted to jump 2.6% year over year in Q2 as parcel shippers continue to grapple with rate increases and added fees from UPS and FedEx, according to the TD Cowen/AFS Freight Index. (Supply Chain Dive)

Oil producers seek to shore up finances amid crude price plunge. Oil-dependent governments are coming under pressure from the lowest crude prices since the COVID-19 pandemic, with officials preparing policy responses for a drop in revenue such as issuing more debt and reducing spending. (Reuters)

Energy demand erodes in face of global economic slowdown as trade war intensifies. Oil prices slumped to a four-year low Wednesday in anticipation of slowing economic growth and reduced energy demand, both casualties of a trade war that began after President Donald Trump ordered widespread tariffs against the imports of U.S. trading partners. (ABC News)

Why Indonesia’s sinking rupiah is a flashing alarm for its $1.4tn economy. Since the inauguration of Indonesian President Prabowo Subianto in October, the rupiah has slid about 8 percent against the dollar amid concerns about the former general’s stewardship of Southeast Asia’s biggest economy and most populous nation. (Al Jazeera)

EU pledges unity on trade challenges, notes US tariffs harder on own economy than on EU. With higher U.S. tariffs postponed by 90 days, European Union finance ministers pledged unity on Friday in negotiating a trade deal with Washington during that window, noting the U.S.’ levies were more hurtful for its own economy than for Europe’s. (Reuters)

Hong Kong stock market plunges most since ’97 crisis amid tariffs panic. Hong Kong’s stock market has suffered its steepest single-day decline in nearly three decades amid a wave of panic selling brought on by United States President Donald Trump’s tariff announcements. (Al Jazeera)

Panama on edge as US targets China’s canal influence. Panama and the US appear to have agreed to let American warships use the Panama Canal, effectively for free. But beneath the agreement is an ongoing threat to Panamanian sovereignty over the use of the canal. (DW)

Investors in high anxiety mode after painful week. Trillions of dollars in market prices alternately have been wiped off and added back to portfolios, leading to high anxiety among investors and a move by some to dial down risky positions as they wait to see how the Trump administration’s policy on tariffs shakes out. (Politico)

Tanking oil prices could more than double Saudi Arabia’s deficit to $75 billion and threaten spending plans: Goldman Sachs economist. Crashing oil prices triggered by waning demand, global trade war fears and growing crude supply could more than double Saudi Arabia’s budget deficit, a Goldman Sachs economist warned. (CNBC)