logo
Congo, Rwanda Sign US-Backed Peace Deal to End Years of War

Congo, Rwanda Sign US-Backed Peace Deal to End Years of War

Mint4 hours ago

(Bloomberg) -- The Democratic Republic of Congo and Rwanda agreed to a US-backed peace deal meant to end years of deadly conflict and promote development in Congo's volatile eastern region.
Foreign ministers from the two countries signed the accord Friday in the presence of Secretary of State Marco Rubio and met with President Donald Trump in the Oval Office later in the day.
'Today the violence and destruction comes to an end and the entire region begins a new chapter of hope and opportunity, harmony, prosperity and peace,' Trump told reporters with Rubio, Vice President JD Vance, and Congo's Foreign Minister Therese Kayikwamba Wagner and her Rwandan counterpart, Olivier Nduhungirehe, at his side.
The peace deal commits the two countries to cease hostilities and halt support for armed groups. It also envisions allowing refugees and displaced people to return home as well as increased economic integration between the countries, with the potential for US investment.
'My administration will continue to work with all of the parties in this deal and ensure the agreements are fully taken care of and you're gonna do what's in the agreement,' Trump said.
'Because if somebody fails to do that, bad things happen,' he added, and later mentioned the possibility of 'very severe penalties, financial and otherwise.'
The accord may bring an end to the occupation of a large swath of mineral-rich eastern Congo by the Rwanda-backed M23 rebel group.
The M23 says it's protecting the rights of ethnic Tutsis and other speakers of the Rwandan language in Congo. Officials there say the M23 and its Rwandan supporters are mainly interested in the region's minerals, including gold, tin and tantalum, which is used in most portable electronics.
Trump said Rwandan President Paul Kagame and Congo's president, Felix Tshisekedi, have been invited to Washington in July.
Separate peace talks between Congo and the M23 are continuing, overseen by the government of Qatar.
'We will lend our full support in the weeks ahead to Qatar's efforts' for the two parties to come to an agreement, Rwanda's Nduhungirehe said.
'The first order of business' will be for Congo to 'neutralize' a Hutu rebel group in eastern Congo, known as the FDLR, with links to the perpetrators of the 1994 Rwandan genocide, 'accompanied by the lifting of Rwanda's defensive measures,' Nduhungirehe said. More than 800,000 people were killed in the genocide that targeted the country's Tutsi minority in the span of about 100 days.
Why Congo, Rwanda Agreed to End Three Decades of War: QuickTake
Around six million people are currently displaced by conflict in eastern Congo, making it one of the worst humanitarian crises in the world.
'This moment has been long in coming,' Kayikwamba said. 'It will not erase the pain, but it can begin to restore what conflict has robbed many women men and children of: safety, dignity and a sense of future.'
The two countries are also working on an economic pact as part of the agreement that could be signed next month, according to Trump's senior adviser for Africa, Massad Boulos.
There are also ongoing bilateral investment talks with both countries to invest in their mineral supply chains, he said.
'Many American companies have shown interest,' Boulos said, adding that the US was already negotiating a critical minerals deal with Congo.
Sign up here for the twice-weekly Next Africa newsletter, and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you listen.
(Updates with Trump's comments throughout.)
More stories like this are available on bloomberg.com

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

In 24 hours: Trump's 'full barrier' trade pitch to India, pact with China, cold shoulder to Canada - What's next?
In 24 hours: Trump's 'full barrier' trade pitch to India, pact with China, cold shoulder to Canada - What's next?

Time of India

time32 minutes ago

  • Time of India

In 24 hours: Trump's 'full barrier' trade pitch to India, pact with China, cold shoulder to Canada - What's next?

With the Iran–Israel war seemingly in his rear-view mirror, US President Donald Trump has swiftly reset his global focus—once again time zeroing in on trade, tariffs and new deals. In the past 24 hours, Trump has dramatically suspended trade talks with Canada over its digital services tax, vaguely confirmed a fresh agreement with China, and teased a 'very big' breakthrough soon with India. Central to this flurry of announcements is his revived strategy of issuing reciprocal tariffs—by letter—to nations wishing to access the US market. Trump's decision to halt negotiations with Canada came after Ottawa unveiled a 3 per cent levy on major US tech firms, which he denounced as 'a direct and blatant attack on our country.' He declared via social media that he would determine and impose appropriate tariffs within a week, citing the US's dominant position in the relationship. Meanwhile, officials in Washington emphasise that Canada holds more to lose, reinforcing Trump's image of maximum leverage. But Trump also struck a softer tone on India, calling a potential trade deal 'very big.' He hinted this could result in sweeping access for US businesses, dismantling barriers that have thus far kept them at bay: 'Right now, it's restricted. You can't walk in there… we agree that going to India and trade…' He added that the China deal was already underway, giving US firms a shot at rare earths and other vital commodities, though details remain under wraps. Trump tariff : What happened in the last 24 hours President Donald Trump's trade agenda took a dramatic turn over the past 24 hours, as he announced a series of sweeping moves on tariffs, suspended trade talks with Canada, signalled a breakthrough with China, and hinted at a 'very big' deal with India. The moves mark a sharp escalation in his second-term strategy to assert US dominance over global trade, even as allies and rivals alike push back. Trump halts Canada trade talks over digital tax Trump stunned officials on both sides of the border by immediately halting trade negotiations with Canada. 'Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately,' Trump posted on his social media network. 'We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period.' Canada's new digital services tax, due to take effect Monday, imposes a 3% levy on tech giants like Amazon, Google, Meta and Airbnb — applying retroactively and totalling nearly \$2 billion in US company obligations. 'We have all the cards,' says Trump on Canada Speaking from the White House, Trump reinforced his hardline stance. 'They did something with our tech companies today trying to copy Europe. It's not going to work out well for Europe either. And it's not going to work out well for Canada. They were foolish to do it,' he said. When asked if Canada could reverse his decision, Trump responded, 'No… It doesn't matter to me. We have all the cards.' Tariff deadline looms on July 9 The broader context is Trump's push to impose reciprocal tariffs — some as high as 50% — on countries with whom the US runs a trade deficit. The 90-day negotiation window, set to expire on July 9, could usher in a new wave of tariffs. 'We have 200 countries, you could say 200 countries plus. You can't do that,' Trump said. 'So at a certain point over the next week and a half or so, or maybe before we're going to send out a letter.' Canadian PM Carney: 'It's a negotiation' Canadian Prime Minister Mark Carney sought to downplay tensions, saying, 'We will continue to conduct these complex negotiations in the best interests of Canadians. It's a negotiation.' But Trump appears unmoved, accusing Canada of levying 'very, very severe' taxes on American companies, including tariffs of up to 400% on dairy products. Digital services tax: The flashpoint The Canadian tax mirrors EU regulations and specifically targets companies with significant online revenues generated from Canadian users. Trump blasted the policy as 'a direct and blatant attack on our country.' Matt Schruers, head of the Computer & Communications Industry Association, praised Trump's swift response: 'We appreciate the Administration's decisive response to Canada's discriminatory tax on US digital exports.' Tariff letters coming soon, says Trump At a White House press conference, Trump confirmed that the US is preparing to send letters to several countries within the next 10 days. 'We're just going to tell them what they have to pay to do business in the United States,' he said. 'We can do whatever we want. We could extend it. We could make it shorter. I'd like to just send letters out to everybody: Congratulations, you're paying 25 per cent.' Trump: 'India trade deal coming soon' Turning to India, Trump expressed optimism that a long-pending deal may soon materialise. 'India, I think we are going to reach a deal where we have the right to go and do trade,' Trump told reporters. 'Right now, it's restricted. You can't walk in there, you can't even think about it. We are looking to get a full trade barrier dropping, which is unthinkable and I am not sure that that is going to happen. But as of this moment, we agree that going to India and trade…' 'A very big one deal' with India In remarks during the 'Big Beautiful Bill' event, Trump said: 'We have one coming up, maybe with India. Very big one. Where we're going to open up India, in the China deal, we're starting to open up China.' Commerce Secretary Howard Lutnick echoed that sentiment, saying: 'You should expect a deal between the United States and India in the not-too-distant future because I think we found a place that really works for both countries.' Commerce minister Piyush Goyal confirmed talks were ongoing, stressing that the goal was a 'fair, equitable and balanced agreement.' US-China pact confirmed, details sparse Trump also confirmed that a deal had been signed with China 'the other day,' though details remain limited. China's Commerce Ministry acknowledged the agreement, mentioning a review of rare earth exports, but offered no timeline. Treasury Secretary Scott Bessent said China had agreed to make it easier for American firms to acquire key minerals. 'What we're seeing here is a de-escalation under President Trump's leadership,' he told Fox Business. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets
S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets

Economic Times

time36 minutes ago

  • Economic Times

S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets

Volume on U.S. exchanges was 22.07 billion shares, compared with the 18.27 billion average for the full session over the last 20 trading days. Wall Street surged on Friday, propelling the S&P 500 and Nasdaq to record highs amid trade optimism and expectations of Federal Reserve rate cuts. Despite a brief setback caused by President Trump's termination of trade talks with Canada, all major indexes posted weekly gains. Economic data, including consumer spending and sentiment reports, further solidified expectations for monetary easing. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NEW YORK: Wall Street extended its rally on Friday, sending S&P 500 and Nasdaq to all-time closing highs as trade deal hopes fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the U.S. Federal pared gains after U.S. President Donald Trump terminated trade negotiations with Canada in response to its digital tax on technology so, all three major U.S. stock indexes posted weekly gains. Upon reaching its record closing high, the tech-heavy Nasdaq confirmed it entered a bull market when it touched its post "liberation day" trough on April blue-chip Dow remained 2.7% below its record closing high reached on December 4."This market's been pretty resilient," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. "Investors are riding momentum and looking for breakouts.""They don't want to get caught on the wrong side of this thing," Carlson added. "Many investors already have missed out. And now you have the S&P flirting with an all-time high."The Personal Consumption Expenditures report from the Commerce Department showed consumer income and spending unexpectedly contracted in May. And while tariffs have yet to affect price growth, inflation continues to hover above the Fed's 2% annual inflation target.A separate report from the University of Michigan confirmed consumer sentiment has improved this month, but remains well below December's post-election markets have priced in a 76% likelihood that the Fed will implement its first rate cut of the year in September, with a smaller, 19% probability of a rate cut coming as soon as July, according to CME's FedWatch and Beijing reached an agreement to expedite rare-earth shipments from China to the U.S., a White House official said, well ahead of the July 9 expiration of the 90-day postponement of U.S. President Donald Trump's "reciprocal" U.S. Treasury Secretary Scott Bessent said the administration's trade deals with 18 of the main U.S. trading partners could be done by the September 1 Labor Day Dow Jones Industrial Average rose 432.43 points, or 1.00%, to 43,819.27, the S&P 500 gained 32.05 points, or 0.52%, to 6,173.07 and the Nasdaq Composite gained 105.55 points, or 0.52%, to 20, the 11 major sectors of the S&P 500, consumer discretionary enjoyed the biggest percentage gain, while energy shares were the laggards. Chipmaker Micron's MU.O upbeat forecast revived investor confidence in artificial intelligence-related stocks, while Nvidia NVDA.O rose 1.8%, edging closer to $4 trillion market capitalization after reclaiming its position as the world's most valuable shares NKE.N jumped 15.2% after forecasting a smaller-than-expected drop in first-quarter revenue. Advancing issues outnumbered decliners by a 1.29-to-1 ratio on the were 347 new highs and 55 new lows on the NYSE. On the Nasdaq, 2,111 stocks rose and 2,342 fell as declining issues outnumbered advancers by a 1.11-to-1 S&P 500 posted 35 new 52-week highs and 6 new lows while the Nasdaq Composite recorded 101 new highs and 68 new on U.S. exchanges was 22.07 billion shares, compared with the 18.27 billion average for the full session over the last 20 trading days.

Can babies be stateless in the US? What the Supreme Court's ruling means for birthright citizenship
Can babies be stateless in the US? What the Supreme Court's ruling means for birthright citizenship

Time of India

timean hour ago

  • Time of India

Can babies be stateless in the US? What the Supreme Court's ruling means for birthright citizenship

The Supreme Court has permitted President Trump's order on birthright citizenship to advance in 28 states. A 30-day delay is in place. Legal challenges are ongoing. States like California and New York are exempt for now. Class-action lawsuits are being pursued. Experts warn of potential statelessness for some children. Mixed-status families may face complications. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads What the Supreme Court's Decision Means for Birthright Citizenship Tired of too many ads? Remove Ads In a key decision, the Supreme Court has allowed President Donald Trump's executive order ending birthright citizenship for children of undocumented immigrants and temporary visa holders to proceed in 28 states. While the court did not rule on the constitutionality of the order, it struck down nationwide injunctions that had blocked its enforcement. A 30-day delay has been set before the order takes effect, giving legal challengers time to including California, New York, and Maryland—part of a group of 22 states that had sued the federal government—will not see immediate enforcement due to existing court blocks. Lawyers representing those states are now moving quickly to convert their cases into class-action lawsuits to preserve broader Yale-Loehr, immigration scholar at Cornell Law School, said as told to The New York Times:'The court decision today means that unless a court certifies a class action within the next 30 days, the Trump administration can start to implement its repeal of birthright citizenship.'With the 30-day window now active, immigration lawyers and civil rights groups are racing to block enforcement before it begins. The constitutional question of who qualifies as an American citizen remains unresolved and is likely headed for another round in the The court imposed a 30-day delay. The order may be implemented only in the 28 states that did not file legal challenges. In states that did, earlier court rulings remain in place, pending further have filed for class-action status, which would allow affected individuals across all states to be represented collectively. The Supreme Court left open this legal path. Federal judges will need to certify these classes quickly for them to have legal Mays, legal director at Democracy Defenders Fund, said to The New York Times:'The Constitution guarantees birthright citizenship, and no procedural ruling will stop us from fighting to uphold that promise.'Yes. In enforcement states, babies born to undocumented immigrants may not receive US citizenship. While many will inherit citizenship from their parents' home countries, some may not, depending on each country's nationality say deportation would depend on the parents' immigration status. Cristina Rodriguez, a professor at Yale Law School, told The New York Times:'What will matter is the status of the parents, in which case there is no bar for removing the babies along with parents.'Under the executive order, children born to individuals on temporary visas—such as H-1B workers or student visa holders—would not automatically receive citizenship. These children may inherit temporary status but would lack the rights tied to added:'They just won't get birth certificates.'Children born during enforcement might gain retroactive citizenship if courts eventually invalidate the order. However, this would require a formal process and could delay access to healthcare, education, and legal warned:'Practically, it could be a gigantic hassle, and there could be significant consequences.'If a family has children born before and after the order, citizenship status could differ among siblings. This may lead to complications in accessing benefits or remaining in the told The New York Times:'The practical problems of ending birthright citizenship are both huge and unpredictable.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store