Trump's Brazil Tariffs Risk Upending Trade From Coffee to Beef
The US is Brazil's second-largest trading partner, trailing only China. But while the two nations compete directly in some markets like corn and cotton, Brazil — an agricultural powerhouse — also produces tropical goods like coffee that can't be grown in the continental US.
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Associated Press
12 minutes ago
- Associated Press
Hong Kong cancels passports and bans financial support for 16 overseas activists
HONG KONG (AP) — Hong Kong authorities on Monday strengthened a crackdown on 16 overseas-based activists who were previously targeted by bounties on suspicion of endangering national security, implementing measures that include banning financial support to them and canceling passports for most of them. The activists were among 19 people who were targeted with arrest warrants in July for alleged roles in Hong Kong Parliament, a group the police called a subversive organization abroad. The organization is not the city's official legislature and its influence is limited. Three of the original 19 activists were already targeted by similar measures last year. Secretary for Security Chris Tang banned providing funds or economic resources to the 16 activists, including Victor Ho, Keung Ka-wai, Australian academic Chongyi Feng and U.S. citizen Gong Sasha, the Hong Kong government said in a statement. Travel documents were canceled for 12 of the 16 who hold Hong Kong passports. The government also prohibited properties from being leased to the people on the list or forming joint ventures with them. Anyone violating the orders risks a penalty of up to seven years in prison. The 16 activists are hiding in the U.K., the U.S., Canada, Germany, Australia, Thailand and Taiwan, among other regions, the government said, accusing them of continuing to engage in activities endangering national security. The notice also accused them of intending to incite hatred against Beijing and Hong Kong through smear and slander. 'We therefore have taken such measures to make a significant impact,' the statement said. Beijing imposed a national security law on the territory in 2020 that has effectively wiped out most public dissent following huge anti-government protests in 2019. Many activists were arrested, silenced or forced into self-exile. The measures announced Monday were issued under the powers granted by Hong Kong's homegrown national security law enacted last year. The arrest warrants issued in July have drawn criticism from foreign governments, including the U.S., the U.K. and the European Union. Police offered rewards of 200,000 Hong Kong dollars ($25,480) to 1 million Hong Kong dollars ($127,400) for information leading to their arrests. In a July statement, U.S. Secretary of State Marco Rubio condemned the moves. 'The extraterritorial targeting of Hong Kongers who are exercising their fundamental freedoms is a form of transnational repression,' he said. 'We will not tolerate the Hong Kong government's attempts to apply its national security laws to silence or intimidate Americans or anyone on U.S. soil.' The Hong Kong office of the Chinese Foreign Ministry responded by opposing criticism from foreign politicians, insisting the actions were legitimate. The governements in Beijing and Hong Kong said the security laws were necessary for the city's stability.
Bloomberg
14 minutes ago
- Bloomberg
OPEC+ Confirms Bumper Oil Output Boost
Good morning. OPEC+ agrees to another output increase. Swiss markets get a chance to react to Donald Trump's tariffs. And our luxury reporter shares countryside escapes close to London. Listen to the day's top stories. OPEC+ agreed to another major output increase, stoking concerns about global oversupply just as the US-led trade war may be exacting a toll on economic growth and energy consumption. Here's our explainer about how OPEC+ and tariffs are driving down prices of the commodity.
Bloomberg
15 minutes ago
- Bloomberg
UBS Settles Credit Suisse Mortgage-Bond Case for $300 Million
UBS Group AG said it has reached an agreement with the US Department of Justice to resolve a legacy Credit Suisse matter related to the former bank's role in selling residential mortgage-backed securities in the US. 'On 1 August 2025, Credit Suisse Securities (USA) LLC entered into an agreement with the DOJ to resolve all of Credit Suisse's outstanding Consumer Relief Obligations under the 2017 settlement by paying $300 million,' the bank said in a statement on Monday.
