On April 21, 2025, gold prices surged to a record high, exceeding $3,385 per ounce. This rally was fueled by a weakening US dollar, President Trump's criticism of the Federal Reserve, and persistent trade war anxieties, as noted by Fed Bank of Chicago President Austan Goolsbee's warning against undermining the Fed's independence.

China halted imports of US liquefied natural gas (LNG) in March 2025, following a significant drop in the previous two months, as reported on April 21, 2025. Purchases of US wheat also fell to zero, contributing to a 70% drop in US LNG shipments during the first quarter of 2025.

On April 20, 2025, Bloomberg reported that global central banks are preparing for interest-rate cuts. This is a preemptive measure to shield their economies from the potential fallout of US President Donald Trump’s trade war.

On April 21, 2025, it was reported that global funds purchased a record ¥2.18 trillion ($15.5 billion) of Japan's super-long government bonds last month. This was driven by heightened risk aversion related to US tariff policies; overall purchases across all maturities reached ¥6.03 trillion, the second highest since 2004.

On April 21, 2025, Bitcoin rose to its highest level since Donald Trump’s “Liberation Day” tariff announcements, reaching over $87,600. This increase occurred as the dollar weakened amid concerns about President Trump's actions regarding the Federal Reserve Chairman.

On April 21, 2025, China’s state-owned AVIC Trust Co. sought assistance from CCB Trust Co. and SDIC Taikang Trust Co. after delaying payments on some investment products. The two state-owned financial institutions will handle AVIC Trust’s daily operations and management.

On April 21, 2025, it was reported that Capula Investment Management LLP is recruiting Deutsche Bank AG’s Masahiko Maihara, and Singapore-based Dymon Asia Capital has hired Barclays Plc’s Shumei Kameyama. This comes as tariff-induced turmoil sweeps the Japanese government bond market.

Malaysia Aviation Group Bhd. is reportedly in talks with Boeing Co. to potentially acquire delivery slots that were vacated by Chinese carriers, as published on April 21, 2025.

South Korea and the US are scheduled to commence trade negotiations this week, starting on Thursday at 8 am local time in Washington, due to the impact of tariffs on South Korea's economy. The meeting will include Secretary of Treasury Scott Bessent, Trade Representative Jamieson Greer, South Korea’s Finance Minister Choi Sang-mok, and Industry Minister Ahn Duk-geun.

Published on April 21, 2025, the article indicates that nearly 40% of China’s first-quarter GDP expansion (5.4%) was driven by net exports. This marks the highest share for this period in over a decade, signaling a growing dependence on foreign demand.

On April 21, 2025, it was reported that India’s Finance Minister Nirmala Sitharaman will meet US Treasury Secretary Scott Bessent in Washington this week for trade talks.

On April 21, 2025, Odd Lots featured Martin Wolf of the Financial Times discussing the implications of President Trump's tariffs on global trade. Bloomberg also released a podcast featuring Martin Wolf discussing President Trump's new tariffs and the resulting impact on international politics, noting that President Trump's unveiling of sweeping tariffs against pretty much every single US trading partner has roiled global markets and is shaking up international politics.

On April 21, 2025, it was reported that analysts are reducing earnings estimates in the US due to the risk of a severe economic slowdown, according to Morgan Stanley’s Michael Wilson. The S&P 500’s earnings revisions breadth is now at levels rarely witnessed.

On April 21, 2025, a gauge of Indian lenders’ shares rose to a record high. This reflects investor optimism about the sector's resilience to tariff-related turmoil.

On April 20, 2025, South Korean presidential front-runner Lee Jae-myung pledged to improve the country's stock market by reforming corporate governance and addressing stock manipulation. He also aims for inclusion in MSCI Inc.'s developed markets list, as reported on April 21, 2025.

On April 20, 2025, it was reported that emerging market local-currency bonds are performing strongly this year, outperforming dollar-denominated bonds. This is due to global trade uncertainty, expected interest rate cuts in developing nations, and decreasing oil prices; dollar bonds are underperforming due to US President Donald Trump's tariff threats.

On April 21, 2025, emerging market currencies rose as the US dollar weakened due to concerns about the Federal Reserve's independence. The Bloomberg Asia Dollar Index increased, with the Thai baht and Malaysian ringgit showing strong performance.

On April 21, 2025, Cosco Shipping Holdings Co., China’s largest shipping line, warned that the Trump administration’s plan to impose levies on Chinese vessels docking at US ports would destabilize global trade and supply chains. The US proposed this plan last week.

On April 21, 2025, it was reported that Chinese plastics factories, heavily reliant on ethane imports from the US, are facing potential shutdowns. This is due to tariffs on American goods, which will make plants that cannot process substitute raw materials unprofitable.

On April 21, 2025, Madis Muller cautioned that US trade tariffs and higher public spending in Germany could fuel inflation. He also noted the lack of consensus on the next policy decision.

On April 21, 2025, Philippine billionaire Jaime Augusto Zobel de Ayala expressed concerns that potential benefits from lower US tariffs for the Philippines might be negated by negative impacts on its trading partners due to the same tariffs.