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Michaeldum
24 May 2025 - 07:22 am
How Trump changed his mind on tariffs
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Peter Nicholas, Garrett Haake and Carol E. Lee
Reporting from Washington
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“Liberation Day” gave way to Capitulation Day last night.
President Donald Trump pulled back yesterday on a series of harsh tariffs targeting friends and foes alike in an audacious bid to remake the global economic order.
Image: President Donald Trump
Saul Loeb / AFP - Getty Images
Trump’s early afternoon announcement followed a harrowing week in which Republican lawmakers and confidants privately warned him that the tariffs could wreck the economy. His own aides had quietly raised alarms about the financial markets before he suspended a tariff regime that he had unveiled with a flourish just one week earlier in a Rose Garden ceremony.
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The stock market rose immediately after the about-face, ending days of losses that have forced older Americans who’ve been sinking their savings into 401(k)s to rethink their retirement plans.
Read the full story here.
32m ago / 12:55 PM GMT+3
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China's foreign ministry calls the U.S. a '21st century barbarian'
Peter Guo
Reporting from Hong Kong
China's public language on its trade war with the U.S. has become increasingly bellicose and took a new turn today when Beijing's foreign ministry said the Trump administration's tariffs have made the U.S. a “barbarian of the 21st century.”
Trump’s tariffs will “never America great again” ministry of foreign affairs spokesperson Huang Jingrui, wrote in an open letter today in Hong Kong’s newspaper South China Morning Post.
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“A tariff-wielding barbarian who attempts to force countries to call and beg for mercy can never expect that call from China,” Huang said, adding that the U.S. is “obsessed with the art of bullying and blackmailing the entire world.”
47m ago / 12:40 PM GMT+3
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EU welcomes 90-day tariff pause
Peter Guo
The EU President Ursula von der Leyen said today that the region welcomes Trump’s announcement to pause tariffs for 90 days.
Von der Leyen said the EU remains “committed to constructive negotiations” with the U.S., according to a statement from her office.
Meanwhile, Europe continues to focus on diversifying their trade partnerships, engaging with countries that account for 87% of global trade, she said.
Trump’s tariffs have shown that the European internal market is the region’s “anchor of stability and resilience” in times of uncertainty, von der Leyen added.
1h ago / 12:27 PM GMT+3
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Trade war with China 'to spark a wave of smuggling'
Peter Guo
Reporting from Hong Kong
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Irregular trade including smuggling will most likely rise amid the U.S.' and China's tit-for-tat tariffs, an economist warns.
The cost of tariffs has become “prohibitive to almost every company,” Tianchen Xu, senior economist at Economist Intelligence Unit.
“As a result, trade flows in both directions will tumble, and irregular trade will proliferate, including smuggling, transshipment and systemic under-reporting of trade value during customs clearance,” Xu said in a note.
Xu said trade negotiations and a partial de-escalation in the ongoing trade war may ensue in the coming months, but those tensions are likely to worsen in the short term between the world’s two largest economies.
1h ago / 12:09 PM GMT+3
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California plant business owner says costs will double with tariffs
Gadi Schwartz and Phil Helsel
The owner of a California home decor and plant shop said that even in dealing locally, the sourcing of goods from China is impossible to avoid.
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Davidcreby
24 May 2025 - 07:06 am
By Henry Austin
A Russian-American woman who was imprisoned for treason by Russia has been freed, Secretary of State Marco Rubio said Thursday.
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Former ballerina Ksenia Karelina was born in Russia but had built a new life as an aesthetician at a Los Angeles spa after immigrating to the United States over a decade ago. She “is on a plane back home to the United States,” having been “wrongfully detained by Russia for over a year,” Rubio said on in a post on X. He credited President Donald Trump with securing her release.
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Karolina’s lawyer, Mikhail Mushailov, confirmed her release in a statement on Instagram. “Two hours ago she was in touch with her relatives and took off from Abu Dhabi to the U.S.,” he wrote, adding that he had known about her release since Tuesday.
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Russia’s Federal Security Service (FSB) detained Karelina in January 2024 while she was visiting her parents and young sister in the city Yekaterinburg. It did not provide further details or evidence of her alleged crime.
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At the time, Russian legal group Perviy Otdel said it had information that Karelina had donated just over $51.80 from her U.S. bank account on Feb. 24, 2022 — the day that Russia launched its full-scale invasion of Ukraine — to a charity that sends aid to Ukraine. A spa where she had previously worked confirmed this in a statement on Facebook.
Although Russia’s FSB did not confirm that figure, it said Karelina’s donation “was subsequently used to purchase tactical medical supplies, equipment, weapons, and ammunition for the Ukrainian armed forces.”
She was sentenced in August to 12 years in a penal colony for “high treason,” having “fully admitted her guilt” at a closed trial in the southwestern Russian city of Yekaterinberg, Sverdlovsky Region Court said in a news release at the time.
The sentence came against the backdrop of Russia’s 3-year-long war with Ukraine during which President Vladimir Putin’s government has cracked down on dissent. Any perceived criticism of the military is banned.
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23 May 2025 - 07:23 pm
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Eugenebuh
23 May 2025 - 06:54 pm
It wasn’t the most contentious meeting the Oval Office has ever seen. Nor was it the warmest.
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Instead, the highly anticipated meeting Tuesday between President Donald Trump and his new Canadian counterpart Mark Carney fell somewhere in the middle: neither openly hostile nor outwardly chummy, evincing very little neighborliness, at least the type used on neighbors one likes.
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The midday talks illustrated neatly the new dynamic between the once-friendly nations, whose 5,525-mile border — the world’s longest — once guaranteed a degree of cooperation but which, to Trump, represents something very different.
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“Somebody drew that line many years ago with, like, a ruler, just a straight line right across the top of the country,” Trump said in the Oval Office as his meeting was getting underway. “When you look at that beautiful formation when it’s together – I’m a very artistic person, but when I looked at that, I said: ‘That’s the way it was meant to be.’”
That is not how Carney believes it was meant to be.
“I’m glad that you couldn’t tell what was going through my mind,” Carney told reporters later that day about the moment Trump made that remark.
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Still, Carney didn’t entirely hold his tongue.
In a meeting dominated by Trump’s comments — he spoke 95% of the time on all manner of topics, from the Middle East to Barack Obama’s presidential library to the state of high-speed rail in California — it was the new prime minister’s pushback on the president’s ambition to make Canada the 51st US state that stood out.
“As you know from real estate, there are some places that are never for sale,” he said, drawing a begrudging “that’s true” from Trump before Carney carried on.
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23 May 2025 - 09:02 am
A? ship that US and Philippine forces planned to sink beat them to it.
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A former US World War II-era warship, which survived two of the Pacific War’s most important battles, was supposed to go down in a blaze of glory in a live-fire exercise off the western coast of the Philippines as part of annually held joint military drills.
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Instead, before the bombs and missiles could fly, it slipped slowly beneath the South China Sea Monday morning, age and the ocean catching up to it before modern weaponry could decimate it.
The ex-USS Brattleboro was to be the main target for the maritime strike (MARSTRIKE) portion of the annual US-Philippine “Balikatan” exercise, which began April 21 and runs to May 9.
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“The vessel was selected because it exceeded its service life and was no longer suitable for normal operations,” according to a statement from the Armed Forces of the Philippines.
Chinese coast guard offices display their national flag on a tiny sandbar in the disputed Sandy Cay in April, 2025.
Related article
China and Philippines unfurl competing flags on disputed South China Sea sandbars, reviving tensions
A US Navy spokesperson told USNI News last month that the? 81-year-old ship was to be the target for US Marine Corps F/A-18 fighter jets during the exercise. A report from the official Philippine News Agency (PNA) said it was to be hit by US and Philippine forces with a combination of anti-ship missiles, bombs and automatic cannon fire.
But as the 184-foot-long vessel was being towed to its station for the exercise, 35 miles west of Zambales province on the northern Philippine island of Luzon, it took on water, the Philippine military statement said.
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“Due to rough sea conditions that we are currently experiencing in the exercise box and with its long service life, as is expected, she took on a significant amount of water and eventually sank,” Philippine Navy spokesperson Capt. John Percie Alcos said, according to PNA. He said the vessel was not damaged while being towed.
The ship sank quietly at 7:20 a.m. local time near the spot where it was to be obliterated later in the day, according to the Philippine military.
Other elements of the MARSTRKE exercise would go on, the military statement said.
The Philippine and US joint task forces “will rehearse virtual and constructive fire missions,” the statement said, without detailing what elements were still scheduled as part of the drill. “The combined force will still achieve its training objectives,” it added.
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The Philippine military said there was no environmental danger from the sinking as the vessel had been cleaned before being towed out for the exercise.
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