At least seven people, including two children, have died after a boat carrying migrants from Turkey to a nearby Greek island capsized, Greece’s coast guard has said.

A search and rescue operation off the northern coast of Lesbos recovered the bodies.

The coast guard said 23 people have been rescued.

Reporting on what appeared to be the same sinking, Turkish media said the incident was attended by the Turkish coast guard after a rubber dinghy sank in the Aegean Sea between the Turkish mainland and Lesbos.

Those rescued were taken to a hospital and the search continued, the state-run Anadolu news agency said.

Weather in the area was reported to be good and it was unclear what caused the boat to overturn early on Thursday morning.

There was no immediate information on the total number of people travelling in the boat, their nationalities, or the type of vessel it was.

A sea and land search and rescue operation is continuing, with three coast guard vessels, an air force helicopter, and a nearby boat searching the area for further potential victims.

Greece is one of the main entry points into the European Union for people fleeing conflict and poverty in the Middle East, Africa and Asia, with many making the short but often treacherous journey from the Turkish coast to nearby Greek islands in inflatable dinghies.

Many are unseaworthy or set out in bad weather, and fatal accidents are common.

The Greek government has cracked down with increased patrols at sea and many smuggling rings have shifted their operations south, using larger boats to transport people from the northern coast of Africa to southern Greece.

For the past two decades, Nike has worked to gradually diversify its manufacturing beyond China, with Vietnam emerging as the company’s most important market for production. On Wednesday afternoon, President Donald Trump announced reciprocal tariffs that will impact Vietnamese-made goods more than those from almost any other country.

The impact of those import tariffs will be far-reaching across the global economy—shortly after the announcement an S&P 500 ETF fell 2%. They will particularly impact the companies that import the bulk of their goods from the countries with the highest rates. On Trump’s list, Vietnam had the fourth highest rate at 46%, trailing only Cambodia (49%), Laos (48%) and Madagascar (47%).

In fiscal 2024, factories in Vietnam manufactured 50% of all Nike Brand footwear, by far its largest market. Factories in Vietnam also manufactured 28% of all Nike Brand apparel, also its largest market.

The second most important manufacturing market for Nike is likely China. The country accounts for 16% of Nike apparel manufacturing, second only to Vietnam, and 18% of footwear, third behind Vietnam and Indonesia. Trump’s new tariffs include a 34% rate on China-made goods, but White House officials told CNBC that the those tariffs would come on top of the 20% already imposed on Chinese imports. That implies a true tariffs rate of 54%. 

Nike stock (NYSE: NKE) fell 7% in after-market trading.

Representatives for Nike didn’t immediately respond to an email seeking comment. Tariffs only came up once on the company’s latest earnings call on March 20, with CFO Matthew Friend mentioning specifically that the company’s latest guidance included newly implemented tariffs on imports from Mexico and China. Those tariffs are separate from the ones announced this week.

Throughout the 1990s Nike was frequently criticized for the labor conditions of its overseas factories, particularly those in China. Since then, the company has worked to diversify its supply chain. It’s not alone—U.S. companies of all sorts have spread out their manufacturing in that span, some searching for lower prices, others looking to insulate themselves from potential volatility and geopolitical relations between the U.S. and Chinese governments.

Vietnam quickly emerged as Nike’s most important market for manufacturing. In 2001, for example, Vietnam accounted for just 13% of the company’s footwear goods and was not included in a list of 12 countries that accounted for most of Nike’s apparel manufacturing, according to SEC filings. A decade later, in 2011, Vietnamese factories were making 39% of Nike’s footwear, its biggest market, and appeared to be third for apparel. It became the company’s most important country for apparel manufacturing for the first time in 2020  and has remained at the top in both categories ever since.

The Nike filings only list where the goods are made, and not where they are sold. That’s likely more relevant in China—many companies are more intentional about selling China-manufactured goods in China—than it is in Vietnam, which has a population that is about 1/14^th of its northern neighbor.

Indonesian factories accounted for 27% of Nike footwear in 2024, according to the filing, which put it in front of China and behind Vietnam. Trump’s announcement included a 32% tariff on Indonesian goods. The third most important country for manufacturing Nike clothing was Cambodia, at 15% of the company’s apparel. The Cambodian tariff rate of 49% was the highest of any rate announced Wednesday.

Canadian Prime Minister Mark Carney on Wednesday evening vowed to “fight” the new round of tariffs announced by President Donald Trump, and said he would turn to other international partners to get through the rocky times ahead. 

“President Trump has just announced a series of measures that are going to fundamentally change the international trading system,” Carney told reporters following Trump’s Rose Garden announcement. “We’re in a situation where there’s going to be an impact on the U.S. economy, which will build with time.

“In our judgment, it will be negative on the U.S. economy that will have an impact on us,” he added, noting millions of Canadians will be impacted.

WHICH COUNTRIES IMPOSE THE HIGHEST TARIFFS ON THE US?

While Trump did not issue any additional tariffs against Canada following the 25% tariffs already in place on all Canadian imports, the 10% tariff on its energy exports and the blanket tariff on all aluminum and steel, he did announce a 25% tariff on all foreign vehicle imports. 

He also pointed out that Trump said there could be future targeted tariffs against pharmaceutical companies, lumber and semiconductors — tariffs that will have wide affect on U.S. trading partners beyond Canada and Mexico, but across Europe and Asia.

“In a crisis, it’s important to come together,” Carney said. “It’s essential to act with purpose and with force, and that’s what we will do.”

Before the tariff announcement, Canadian Conservative Leader Pierre Poilievre said at an election campaign event on Wednesday that he supports “targeted, reciprocal” tariffs on American goods — and if his party wins the general election on April 28 and he becomes prime minister, he would like to sit down with President Donald Trump and create a new trade deal, replacing the United States-Mexico-Canada Agreement, which the president signed in 2020.
 

Pierre Poilievre, leader of Canada’s Conservative Party, speaks at the Assembly of First Nations Annual General Assembly in Montreal, Quebec, Canada, on Thursday, July 11, 2024.  (Graham Hughes/Bloomberg via Getty Images)

Poilievre also said that Canada must maintain control of its border and freshwater and protect both its automotive industry and supply-managed farm sectors.

David Adams, president and CEO of Global Automakers of Canada — a national trade association representing the Canadian interests of 16 automakers, including BMW Canada, Inc. and Nissan Canada Inc. — said in a statement, “Tariffs are taxes that hurt consumers by increasing costs, driving up inflation, and unfairly impacting workers on both sides of the border.”

“Governments should look to long-term solutions to remove these tariffs, prioritizing the elimination of regulatory barriers to industry competitiveness and providing automakers with flexibilities to respond in these uncertain times.”

Reactions from European Union leaders began to emerge following Trump’s announcement that he will hit the EU with 20% tariffs on all imported goods, with disappointment, concern and commitments to continue negotiations with the U.S.

US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled “Make America Wealthy Again” at the White House in Washington, DC, on April 2, 2025. (Getty Images)

CANADA STARES DOWN CONSEQUENCES OF TRUMP TARIFF WAR: JOB LOSSES, GROCERY PRICE HIKES, POSSIBLE RECESSION

Italian Prime Minister Giorgia Meloni, generally seen as a Trump ally, said Trump’s tariffs were “wrong” and warned they would not only harm American and European pocketbooks, but aid Western adversaries.

“We will do everything we can to work towards an agreement with the United States, with the goal of avoiding a trade war that would inevitably weaken the West in favor of other global players,” Meloni said in a statement on Facebook.

“In any case, as always, we will act in the interest of Italy and its economy, also engaging with other European partners,” she added.

Ireland’s Deputy Prime Minister, Simon Harris, said he “deeply regret[s]” the new tariffs but said he is committed to working with Washington to end this tariff war. 

“I must be honest tonight that a 20% blanket tariff on goods from all EU countries could have a significant effect on Irish investment and the wider economy,” he said, noting the effects would “likely be felt for some time.”

Chairman of the European Parliament’s International Trade Committee Bernd Lange called for a united response from countries targeted by Trump.

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington, as Commerce Secretary Howard Lutnick listens.  (AP Photo/Mark Schiefelbein)

“While President Trump might call today ‘Liberation Day,’ from an ordinary citizen’s point of view this is ‘Inflation Day,’ he said, reported Reuters. “Because of this decision, U.S. consumers will be forced to carry the heaviest burden in a trade war.”

Lange said the EU will respond through “legal, legitimate, proportionate and decisive” measures.

Swiss President Karin Keller-Sutter said her government would work to figure out the next steps.  

The U.K., along with the president of Mexico ahead of the announcement, said they would continue to work with the U.S. and would not rush to enforce reciprocal tariffs.

Similarly, Australian Prime Minister Anthony Albanese said that while Trump’s decision was “not the act of a friend,” his country would not impose reciprocal tariffs, reported Reuters. 

He reportedly condemned the U.S. tariffs as totally unwarranted and said Australia will continue to negotiate to have the tariffs lifted.