Canada's decision to recognize Palestine will make trade deal hard to reach: Trump
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Al Arabiya
an hour ago
- Al Arabiya
Trump orders tariffs on dozens of countries in push to reshape global trade
President Donald Trump ordered the reimposition of tariffs on dozens of trading partners Thursday — his cornerstone strategy for reshaping global trade to benefit the US economy. However, in a minor reprieve, the White House said the measures will take effect in a week, not this Friday as previously expected. The tariffs are a demonstration of raw economic power that Trump says will put US exporters in a stronger position while encouraging domestic manufacturing by keeping out foreign imports. But the muscular approach has raised fears of inflation and other economic fallout in the world's biggest economy. And with questions hanging over the effectiveness of bilateral trade deals already struck — including by the European Union and Japan — the outcome of Trump's plan remained uncertain. Trump's new measures in an executive order raised duties on dozens of economies up to a 41 percent rate. Frantic negotiations Most of these new tariff hikes were first announced in April when Trump slapped a minimum 10 percent levy on goods from almost every country in the world, citing unfair trade practices and US deficits. However, Washington then postponed implementation, amid a frantic series of negotiations, alongside announcements of new duties and deals with some partners. Just Thursday, Trump announced he was delaying a tariff hike on products from the major US trading partner Mexico. The postponement by 90 days came after talks with his counterpart Claudia Sheinbaum. The 79-year-old Republican has made tariffs core to his protectionist brand of hard-right politics. On Thursday, he claimed that the US economy had 'no chance of survival or success' without tariffs. But the latest salvo came amid legal challenges against Trump's use of emergency economic powers. On Thursday, the US Court of Appeals for the Federal Circuit heard arguments in cases brought against Trump's blanket tariffs targeting different countries. And questions linger over the effectiveness of Trump's grand plans — or even whether he will hold firm on his most drastic threats. While Trump has touted a surge in customs revenues since the start of the year, economists warn the duties could fuel inflation. Proponents of his policy argue that their impact will be one-off, but analysts are awaiting further economic data to gauge for more persistent effects. China question mark Among those who managed to strike deals with Washington were Vietnam, Japan, Indonesia, the Philippines, South Korea, and the European Union. Britain also reached a pact with the United States, although it was not originally targeted by higher 'reciprocal' tariffs. Washington did not finalize a deal with neighboring Canada, but Trump reached agreement with Mexico to maintain an existing 25 percent duty on its products. Canada, however, was slapped with duties of 35 percent in the Trump executive order. An exemption for goods entering the country under a North American trade pact remained in place, according to the White House. But transshipped goods to evade the 35 percent duty would face even higher levels. Canada's trade relations with the United States came under renewed threat after Prime Minister Mark Carney announced plans to recognize a Palestinian state at the UN General Assembly in September. Notably excluded from the latest drama was China, which faces an August 12 deadline instead, when duties could bounce back to higher levels. Washington and Beijing had slapped tit-for-tat tariffs on each other's goods, bringing them to triple-digit levels before both countries reached agreement in May to temporarily lower these duties. The superpowers are now working toward extending their truce.
Al Arabiya
an hour ago
- Al Arabiya
Video of Israeli hostage in Gaza published by Palestinian militant group
The armed wing of a Palestinian militant group published a video Thursday of an Israeli–German hostage who was abducted and taken to Gaza in October 2023 during the attack that sparked the war in the territory. In the six-minute video, the man, Rom Braslavski, speaking in Hebrew, is seen watching recent news footage of the hunger crisis in Gaza. He identifies himself and pleads with the Israeli government to secure his release. AFP was not immediately able to confirm the authenticity of the video or the date it was filmed, but an organization representing hostages' families identified the man as Braslavski, 21, a German–Israeli dual national. Islamic Jihad, which said last week that it had lost contact with the hostage, repeated that claim in commentary at the beginning of the latest video, suggesting the images were filmed more than a week ago. A previous video of Braslavski was released on April 16. Originally from Jerusalem, Braslavski was a security agent at the Nova music festival, one of the sites attacked in October 2023 by Hamas and other Palestinian fighters, including members of Islamic Jihad. The footage shows the young man watching an Arabic-language television channel broadcasting a report on hunger in Gaza. 'They managed to break Rom. Even the strongest person has a breaking point,' his family said in a statement released by the Hostages and Missing Families Forum. 'Rom is an example of all the hostages. They must all be brought home now.' Before his abduction, Braslavski rescued several festival-goers, according to witnesses who managed to escape. Of the 251 people taken from Israel that day, 49 are still held in Gaza, 27 of whom are dead, according to the Israeli army. Israel has been fighting Hamas in Gaza since the kidnappings, but a truce from January 19 to March 17 allowed the return of 33 hostages to Israel, eight of them dead, in exchange for the release of approximately 1,800 Palestinians from Israeli jails. Others were released under a previous truce in 2023.
Arab News
3 hours ago
- Arab News
Trump signs order imposing higher tariffs on dozens of economies
WASHINGTON: President Donald Trump signed an order Thursday imposing higher tariffs on dozens of countries in his latest bid to reshape global trade in favor of US businesses, with duties to take effect in seven days. The order set out tariffs on imports that ranged as high as 41 percent on Syria, alongside various levels reflecting trade deals struck between Washington and major partners like the European Union and Japan. Separately, the White House announced that Canadian imports will face 35 percent tariffs come Friday, up from an existing 25 percent level. An exemption for Canadian and Mexican goods entering the country under a North American trade pact remained in place, according to the White House. Mexico continues to face 25 percent tariffs. The announcement capped a flurry of efforts to reach trade pacts with the Trump administration ahead of the president's initial Friday deadline. So far, Washington had announced pacts pacts with Britain, Vietnam, Japan, Indonesia, the Philippines, South Korea and the European Union. But details of those agreements have remained vague. Looming over the global economy is also an unresolved trade tussle between the United States and China.
