India is trying to shield itself from Trump’s backlash against BRICS by stressing it has no plans to challenge the dollar’s global dominance, sources say, after the US leader threatened an additional 10% tariff on members of the emerging-markets bloc. Separately, Washington will begin levying a 50% duty on copper imports from Aug. 1, confirming a move that will hurt American producers of everything from automobiles to appliances. Ukraine’s allies gathering in Rome today to discuss the nation’s postwar reconstruction are being forced to grapple with the reality that the prospect looks more remote than ever after Russia unleashed its latest deadly air strike on Kyiv. With Trump condemning Moscow’s refusal to discuss a ceasefire, US Secretary of State Marco Rubio is set to meet Russian Foreign Minister Sergei Lavrov during an ASEAN gathering in Malaysia today. A police officer at the site of a Russian air strike that hit a building in Kyiv today. Photographer: Andrew Kravchenko/Bloomberg A senior Israeli official played down the chances of an imminent end to the war in Gaza, even as Trump said negotiators were “very close” to a ceasefire. A truce with Hamas could be agreed to in a week or two but may not evolve into a de facto end to a war that’s lasted more than 21 months and destabilized the wider Middle East, according to the official. Trump welcomed leaders of five West African nations, hailing the continent’s economic potential as his administration seeks to expand access to critical minerals and other natural resources. “We’re shifting from aid to trade,” Trump said. While Gabon, Guinea-Bissau, Liberia, Mauritania and Senegal rank among Africa’s smaller economies, they’re rich in minerals and have the potential to significantly ramp up production. The UK and France will agree to strengthen cooperation on nuclear deterrence, formally declaring a willingness to coordinate any response to an extreme security threat in Europe. They will also order more of the conventionally armed Storm Shadow cruise missiles that they’ve supplied to Ukraine and boost efforts to develop a next-generation replacement for the weapons. The eldest son of Silvio Berlusconi, the late Italian prime minister, hinted that he could potentially follow in his father’s footsteps and seek office. Pier Silvio Berlusconi is chief of Italy’s largest commercial broadcaster, MFE-MediaForEurope, founded by his father in the late 1970s. Pier Silvio Berlusconi. Photographer: Miguel Medina/AFP/Getty Images French police raided the headquarters of the far-right National Rally yesterday in an investigation into suspicions of unlawful funding of its latest presidential campaign, a move the party’s head immediately branded as “harassment.” Malaysia’s Attorney General confirmed for the first time the existence of a document that former premier Najib Razak says would allow him to serve the rest of his jail term for corruption under house arrest, local media reported. The Trump administration is intensifying its fight against Harvard University, warning that its accreditation may be in danger and formally moving to subpoena the school in a bid for information on foreign students. Supporters of Palestine gather at Harvard University on Oct. 14, 2023. Photographer: Joseph Prezioso/AFP/Getty Images On the latest episode of the Trumponomics podcast, we explore how the attack by Trump’s “Big Beautiful Bill” on renewable energy may push up electricity bills and damage US competitiveness in AI. Listen on Apple, Spotify, or wherever you get your podcasts. |