Global markets experience renewed apprehension due to Trump's imposed tariffs
A new podcast, Mistresses, is offering a fresh perspective on history's much-maligned "other women." The podcast presents a woman-centered retelling of these women's lives, arguing that traditional accounts have erased, sidelined, or embellished them through a lens of disapproval and misogyny.
In other news, tensions continue to rise as US President Donald Trump ordered the positioning of two nuclear submarines "in the appropriate regions" in response to "highly provocative" and "inflammatory" statements from Dmitry Medvedev, the deputy chair of Russia's security council. This move comes as China and Russia opened joint naval drills in the Sea of Japan, the latest sign of their strengthening alliance.
Israel is facing intense international criticism, domestic discontent, and internal political rifts following a hard-right minister's prayer at a disputed holy site in Jerusalem. The minister, Itamar Ben-Gvir, led 1,250 Jews in prayer at the site, known to Muslims as the Al-Aqsa mosque, despite decades-old agreements limiting Jewish prayer there. This all-or-nothing approach marks a pivot for Israel, having previously pushed for phased, incremental deals with Hamas.
Meanwhile, the world's economy is showing signs of resilience, but cracks are emerging. The US under the Trump 2.0 administration pursues a "strategic decoupling" aiming to bring back domestic production in sensitive areas like semiconductors, steel, and medicine. This is reflected in tariff policies, export controls on advanced technology, and limits on Chinese investments in US high-tech industries.
As a result, the US-China trade relationship exhibits a complex partial decoupling, mainly focused on strategic and high-tech sectors, while general trade, including low-value consumer goods, continues albeit under elevated tariff burdens. This process disrupts the global economy, contributing to inflation and growth challenges.
BP has made its largest global oil and gas discovery in 25 years off the coast of Brazil. The find could play a big role in the company's efforts to increase daily oil and gas production by up to 2.5 million barrels. However, this plan has pulled the plug on BP's 2020 pledge to become a net-zero energy company, which hit a string of hurdles.
In other business news, Figma shares more than tripled in the company's New York trading debut, suggesting a turnaround in the tech IPO landscape. Meanwhile, the US imposed fresh sanctions on people and organizations linked to Iran, intensifying its pressure on Tehran. Iran responded angrily, with Foreign Minister Abbas Araghchi rejecting "threat and intimidation."
Elsewhere, the US and China are increasingly decoupling, even as they try to maintain a fragile trade truce. The US has threatened to raise tariffs on India, currently at 25%, for buying Russian oil. India has remained defiant in the face of these threats. On the other hand, Pakistan, on the other hand, has landed a more favorable US tariff rate of 19%, in part due to Trump's interest in the country's oil reserves and because Islamabad didn't "ruffle feathers" on the geopolitical front.
In politics, El Salvador's legislature approved constitutional amendments removing term limits, potentially allowing its President Nayib Bukele to rule for life. This move comes as ceasefire talks with Hamas stall and Israel pushes for a comprehensive plan to end the conflict. The US President Donald Trump will soon fill two key posts amid growing worry over the erosion of previously independent American economic institutions.
Finally, four people including a Ukrainian lawmaker were arrested in Kyiv after authorities uncovered a large-scale bribery scheme surrounding drone purchases. Ukrainian officials allegedly procured the military equipment at inflated prices and received kickbacks. Some analysts argue that the damage to Zelenskyy's standing may be irreversible following widespread public outcry over President Volodymyr Zelenskyy's move to curb the powers of Ukraine's anti-corruption agencies.
- A new podcast, Mistresses, emphasizes the importance of education-and-self-development, providing insights into historical figures who have often been misunderstood due to misogyny and disapproval.
- The US President Donald Trump's policy-and-legislation decision to position nuclear submarines is a response to the escalating war-and-conflicts tensions between the US and Russia, as China and Russia engage in military exercises in the Sea of Japan.
- The Israeli government's handling of the disputed holy site in Jerusalem has faced widespread criticism from both the international community and domestic critics, sparking concerns about crime-and-justice and political instability.
- The Trump 2.0 administration's pursuit of strategic decoupling is aimed at improving finance by bringing back domestic production in sensitive areas, variously reflected in tariff policies, export controls, and limits on Chinese investments.
- A significant oil and gas discovery off the coast of Brazil by BP could boost the company's production, but it may conflict with the company's previous commitment to becoming a net-zero energy company.
- The US-China trade relationship, while still maintaining a fragile truce, exhibits a decoupling particularly in strategic and high-tech sectors, affecting general-news topics like the global economy, contributing to inflation and growth challenges.
