The Japanese government said Friday it will release a fifth of its emergency rice stockpile after hot weather, poor harvests and panic buying over a “megaquake” warning nearly doubled prices over a year.

Gold prices fell over 1 percent on Friday due to profit-taking, although they remained poised for their seventh straight weekly rise, driven by fears of a global trade war in the wake of US President Donald Trump’s push for reciprocal tariffs.

President Donald Trump on Friday kept alive his drumbeat of tariff threats, saying levies on automobiles would be coming as soon as April 2, the day after members of his cabinet are due to deliver reports to him outlining options for a range of import duties as he seeks to reshape global trade.

President Luiz Inacio Lula da Silva said on Friday that Brazil would react to US President Donald Trump’s decision to issue tariffs on steel imports, suggesting his government could file a complaint at the World Trade Organization, or tax US products.

What are the details of his plan and what consequences could they bring?

Gold gained on Thursday as markets closely tracked developments in US President Donald Trump’s tariff plans, which could further escalate a global trade war, while investors awaited crucial US data due later in the day.

Imposing punitive tariffs on countries with high trade surpluses with the United States has been at the heart of US President Donald Trump’s economic policy.

India’s Consumer Price Index (CPI) based retail inflation eased to 4.6 percent in January from 5.22 percent in December.This marks a decline of 91 basis points in headline inflation compared to the previous month, making it the lowest year-on-year inflation since August 2024.

Japanese auto giants Honda and Nissan confirmed on Thursday they had scrapped merger talks announced in December, ending a tie-up that would have created the world’s third-largest automaker.

Local media reports have said the discussions unravelled after Honda proposed to make its struggling rival a subsidiary instead of the plan, announced in December, to integrate under a new holding company.

A recent US outbreak of bird flu since early 2024 is exacting a heavy toll on poultry farms.

Trump was elected on promises to lower prices for inflation-weary consumers

In its latest report released today, the organisation projected inflation will stabilise between 8.5% and 9.5% by June but fall to 6-7% by December

The cranes to be purchased from a Chinese firm will be deployed in early 2026

Trump stunned markets with his decision on Monday to impose tariffs on all steel and aluminum imports beginning March 12

Trump's fresh salvo could bring a broad tariff hike to emerging market economies like India and take aim at European Union value-added taxes, fanning tensions with the bloc, analysts warn.

Trump's fresh salvo could bring a broad tariff hike to emerging market economies like India and take aim at European Union

Mother vessels are provided with only one lighter vessel against the demand for four

Musk is accustomed to getting his own way. His one major setback was being ousted as boss of payments firm PayPal in 2000.

Spot gold was up 0.3 percent at $2,916.37 per ounce as of 0701 GMT