French Government Faces Stress Test as Pensions Return to Fore
Prime Minister Francois Bayrou had tasked labor unions and business groups with tweaking President Emmanuel Macron's 2023 law that raises the minimum retirement age to 64 from 62. But they failed to agree on workarounds for the age thresholds, according to negotiators cited by Agence France Presse late Monday.
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US, China to launch new talks on tariff truce extension, easing path for Trump-Xi meeting
By David Lawder STOCKHOLM (Reuters) -Top U.S. and Chinese economic officials will resume talks in Stockholm on Monday to try to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from U.S. duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks come hot on the heels of Trump's biggest trade deal yet with the European Union on Sunday for a 15% tariff on most EU goods exports to the U.S., including autos. The bloc will also buy $750 billion worth of American energy and make $600 billion worth of U.S. investments in coming years. No similar breakthrough is expected in the U.S.-China talks but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. A U.S. Treasury spokesperson declined comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or other steps that could escalate the trade war for another 90 days. Trump's administration is poised to impose new sectoral tariffs that will impact China within weeks, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters on Sunday before European Commission President Ursula von der Leyen struck their tariff deal. DEEPER ISSUES Previous U.S.-China trade talks in Geneva and London in May and June focused on bringing U.S. and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include U.S. complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that U.S. national security export controls on tech goods seek to stunt Chinese growth. "Geneva and London were really just about trying to get the relationship back on track so that they could, at some point, actually negotiate about the issues which animate the disagreement between the countries in the first place," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. "I'd be surprised if there is an early harvest on some of these things but an extension of the ceasefire for another 90 days seems to be the most likely outcome," Kennedy said. U.S. Treasury Secretary Scott Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption -- a decades-long goal for U.S. policymakers. Analysts say the U.S.-China negotiations are far more complex than those with other Asian countries and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on U.S. industries. TRUMP-XI MEETING? In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon on a landmark trip to China, and a new flare-up of tariffs and export controls would likely derail planning. Sun Chenghao, a fellow at Tsinghua University's Center for International Security and Strategy in Beijing, said that a Trump-Xi summit would be an opportunity for the U.S. to lower the 20% tariffs on Chinese goods related to fentanyl. In exchange, he said the Chinese side could make good on its 2020 pledge to increase purchases of U.S. farm products and other goods. "The future prospect of the heads of state summit is very beneficial to the negotiations because everyone wants to reach an agreement or pave the way in advance," Sun said. Still, China will likely request a reduction of multi-layered U.S. tariffs totaling 55% on most goods and further easing of U.S. high-tech export controls, analysts said. Beijing has argued that such purchases would help reduce the U.S. trade deficit with China, which reached $295.5 billion in 2024. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Fox News
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Russia has land acquisition from others 'in its DNA,' says Finnish president
Finnish President Alexander Stubb discusses efforts to end Russia's war in Ukraine and U.S.-Finland relations on 'Sunday Night in America.'
Yahoo
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France and Saudi Arabia to lead UN push for two-state solution
France and Saudi Arabia will co-chair a UN conference in New York from July 28-30 to revive stalled two-state solution talks. Days ahead, French President Macron said Paris would formally recognise Palestine in September, boosting momentum for renewed negotiations between Israel and the Palestinians. France and Saudi Arabia will lead the charge starting Monday to revive the moribund push for a two-state solution between Israel and the Palestinians at a UN conference in New York. Days before the July 28-30 conference, to be co-chaired by Riyadh and Paris, French President Emmanuel Macron announced that he would formally recognise the State of Palestine in September. Paris's decision "will breathe new life into a conference that seemed destined to irrelevance," said Richard Gowan, an analyst at the International Crisis Group. "Macron's announcement changes the game. Other participants will be scrabbling to decide if they should also declare an intent to recognize Palestine." In an interview with French weekly La Tribune Dimanche, French Foreign Minister Jean-Noel Barrot said that other European countries will confirm "their intention to recognise the State of Palestine" during the conference, without detailing which ones. France is hoping that Britain will take this step, and more than 200 British MPs on Friday pushed British Prime Minister Keir Starmer to do so, but he reiterated that recognition of a Palestinian state "must be part of a wider plan." According to an AFP database, at least 142 of the 193 UN member states -- including France -- now recognise the Palestinian state proclaimed by the Palestinian leadership in exile in 1988. In 1947, a resolution of the UN General Assembly decided on the partition of Palestine, then under a British mandate, into two independent states -- one Jewish and the other Arab. The following year, the state of Israel was proclaimed. For several decades, the vast majority of UN member states have supported the idea of a two-state solution, Israelis and Palestinians living side-by-side peacefully and securely. But after more than 21 months of war in Gaza, the ongoing expansion of Israeli settlements in the West Bank, and Israeli officials declaring designs to annex occupied territory, it is feared a Palestinian state could be geographically impossible. The war in Gaza started following a deadly attack by Hamas on Israel, which responded with a large-scale military response that has claimed tens of thousands of Palestinian lives. The conference is a response to the crisis, with Palestinian Prime Minister Mohammad Mustafa and several dozen ministers from around the world expected to attend. It is coming at a moment when "the prospect of a Palestinian state has never been so threatened, or so necessary," Barrot said. Call for courage Beyond facilitating conditions for the recognition of a Palestinian state, the meeting will have three other focusses -- reform of the Palestinian Authority, disarmament of Hamas and its exclusion from Palestinian public life, and normalisation of relations with Israel by Arab states that have not yet done so. No new normalisation deals are expected to be announced at the meeting, according to a French diplomatic source. But "for the first time, Arab countries will condemn Hamas and call for its disarmament," Barrot said. The conference "offers a unique opportunity to transform international law and the international consensus into an achievable plan and to demonstrate resolve to end the occupation and conflict once and for all, for the benefit of all peoples," said Palestinian ambassador to the UN Riyad Mansour, calling for "courage" from participants. Israel and the United States will not take part in the meeting, while international pressure continues to mount on Israel to end nearly two years of war in Gaza. Despite "tactical pauses" in some military operations announced by Israel, the humanitarian catastrophe in the ravaged coastal territory is expected to dominate speeches by representatives of more than 100 countries as they take the podium from Monday to Wednesday. Gowan said he expected "very fierce criticism of Israel." (FRANCE 24 with AFP)
