| Trump’s administration pressed forward with plans to impose tariffs on semiconductor and pharmaceutical imports by initiating trade probes led by the Commerce Department. At the same time, the president said he’s exploring possible temporary exemptions to levies on imported vehicles and auto parts to give companies more time to set up US manufacturing facilities. During his first overseas trip of the year, Chinese President Xi Jinping called on Vietnam to jointly oppose “unilateral bullying” to maintain the stability of global free trade and supply chains. Meanwhile, Beijing’s top official on Hong Kong affairs lashed out at Trump, saying his tariff war is about attacking the well-being of Chinese people. Influencers mocked the levies on TikTok and sources say China has ordered its airlines not to take any further deliveries of Boeing aircraft. Treasury Secretary Scott Bessent played down the recent selloff in the bond market, rejecting speculation that foreign nations were dumping their holdings of US Treasuries, while flagging that his department has tools to address dislocation if needed. The risk premium to hold 10-year Treasuries has climbed to the highest in a decade on concern US tariff policy will sap investor confidence in the country’s government bonds.  WATCH: Bessent speaks exclusively to Bloomberg’s Annmarie Hordern in Buenos Aires. US special envoy Steve Witkoff described his talks with Russian President Vladimir Putin last week as “compelling,” saying in a Fox News interview that they discussed steps that could end the war in Ukraine and perhaps lead to business opportunities. Trump continued to blame Ukrainian President Volodymyr Zelenskiy for the conflict that Russia began in February 2022. Trump suggested Iran is slow-walking talks, reaffirming that he’d be willing to strike the Islamic Republic’s nuclear facilities to prevent Tehran from obtaining an atomic bomb, after the two nations set a second round of discussions for Saturday. As diplomatic momentum builds, IAEA chief Rafael Mariano Grossi is expected to visit Tehran tomorrow, according to the Iranian Foreign Ministry. Canadian Prime Minister Mark Carney pledged to expand military spending if he wins this month’s election and to change the country’s defense-procurement strategy so that it doesn’t depend as much on US contractors. US Vice President JD Vance said it’s likely the Trump administration will seal a mutually beneficial economic agreement with the UK, telling the UnHerd website that America has “a much more reciprocal relationship” with Britain than with other European countries like Germany. Singapore’s government dissolved parliament as Prime Minister Lawrence Wong prepares for May 3 elections, when he’ll seek a mandate to tackle cost-of-living concerns and to lead the trade-reliant nation into a complicated new era. Fighting raging in a major city in Sudan’s Darfur region forced at least 400,000 people to flee for their lives, as the UK hosts an international conference that seeks to ensure aid access and find a path to ending the two-year civil war. Lesotho granted Elon Musk’s Starlink a 10-year license to operate its satellite network in the tiny southern African mountain kingdom as it seeks to improve ties with the US. | 
