The U.S.-UK “special relationship” is showing cracks in its last stronghold — intelligence cooperation.

• Trump ordered a freeze on sharing U.S. intelligence with Ukraine, even within the Five Eyes alliance.

• While allies condemned the Ukraine decision, the UK stressed ties remain “inextricably entwined.”

• But the experts say that despite the intricate nature of the relationship, it may be necessary for Britain to begin planning for the previously unthinkable if Trump’s America continues to depart from its oldest alliances and once-shared international aims.

Source: Politico

🇭🇰 BIG: Hong Kong Stock Exchange closes down 13.12% — worst drop since 1997.

End of Globalisation

U.K. Prime Minister Keir Starmer will declare the end of globalisation, saying it has failed millions, as Trump’s tariffs shake the global economy.

He will call for faster supply-side reforms and unveil pro-growth plans this week.

Starmer will reject tariffs but acknowledge why Trump’s economic nationalism resonates with voters left behind by free trade and immigration.

A No. 10 official said:

“Globalisation is over.”

Source: The Times

NEW: The new Syrian government will take full control of the wells in the Jazira region east of the Euphrates River, Deir al-Zour Governor Ghassan Ahmed said.

🇹🇼 Taiwan’s stock market closes down 9.7%, a historic record drop.

Germany’s Interior Ministry supports preparing schoolchildren for war or major crises.

Source: Handelsblatt

German Economy Minister Habeck:

EU is in a strong position to respond to U.S. tariffs.

Response must be calm and united.

🇸🇬 Singapore’s Straits Times Index falls 7.7%, biggest single-day drop in more than 16 years.

Kremlin:

A number of questions have to be answered before a ceasefire in Ukraine. No one has given us answers to our questions.

Tesla shares dropped below the price the U.S. Commerce Secretary Lutnick once claimed was “impossible” to fall beneath.

Kremlin on Iran:

Russia is ready to do everything possible to resolve the problem through political and diplomatic means.

Goldman Sachs raises U.S. recession probability estimate from 35% to 45%.

Trump:

Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place.

Elon Musk published a video on X showing how close Russia and the US are to each other geographically.

Macron:

We stand against the displacement of any people, reject the annexation of Gaza and the West Bank, and renew our support for the Gaza reconstruction plan.

Consultations between Russia, China and Iran on the Iranian nuclear program will take place in Moscow on April 8.

Pro-Trump billionaire investor Bill Ackman:

The president is losing the confidence of business leaders around the globe.

By placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner.

Italy's Foreign Minister has suggested that the EU could postpone initial counter-tariffs against the US to April 30 from April 15.