Global equities slid as Chinese startup DeepSeek raised concerns over US dominance in artificial intelligence and a spat between the US and Colombia reinforced worries about weaponization of tariffs.

Donald Trump’s burgeoning trade war with Colombia might not change the price of coffee at Aussie cafes, but there could be long-term impacts for our economy if China can take advantage, an expert says.

Donald Trump claimed an early victory for a coercive foreign policy based on tariffs and hard power on Sunday after announcing Colombia had backed down in a dispute over migrant repatriation flights.

Good morning. US tech futures plunge as a Chinese AI newcomer threatens to shake things up. Donald Trump briefly proposes tariffs on Colombia. And Elon Musk’s Department of Government Efficiency is now hiring.

Colombian traders are bracing for a volatile session Monday after a dispute with the US over deported migrants triggered a brief threat of tariffs from President Donald Trump.The South American nation reversed its decision to reject the return of the migrants after Trump announced an emergency 25% tariff on all Colombian goods coming into the US.

But there are risks too - coffee prices could rise and nations may be less willing to stop the flow of migrants north.

Trump had threated to impose 25% tariffs on all imports from Colombia, which would rise to 50% in a week, unless it agreed to accept deported migrants.

U.S. stock futures and Asian shares outside China slumped on Monday as investors weighed the implications of Chinese startup DeepSeek's launch of a free, open-source artificial intelligence model to rival OpenAI's ChatGPT.

By Samuel Indyk and Kevin Buckland LONDON (Reuters) -European and Asian shares slumped on Monday as investors weighed the implications of Chinese startup DeepSeek's launch of a free open-source artificial intelligence model to rival OpenAI's ChatGPT.

Hours after the president of Colombia refused to allow two U.S. military flights carrying deported Colombian migrants to land in his country, President Donald Trump announced Sunday immediate reprisals against the South American nation: A 25% tariff on all Colombian products — to rise to 50% in a week — and the shutting down of the visa section in the U.

The U.S. will not impose sanctions and tariffs on Colombia after the South American nation agreed to accept deported migrants from the United States, the White House press secretary said in a statement late on Sunday.