
Netanyahu nominates Trump for Nobel Peace Prize
Netanyahu meets Trump at White House as Israel, Hamas discuss ceasefire
Speaking to reporters at the beginning of their meeting, Netanyahu said Israel was working with the United States to find countries who would give Palestinians a better future.

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Trump announces 50pc tariff on copper imports
WASHINGTON/TOKYO: US President Donald Trump broadened his global trade war on Tuesday as he announced a 50% tariff on imported copper and said long-threatened levies on semiconductors and pharmaceuticals were coming soon. One day after he pressured 14 trading partners, including powerhouse US suppliers like South Korea and Japan, with sharply higher tariffs, Trump reiterated his threat of 10% tariffs on products from Brazil, India and other members of the BRICS group of countries. He also said trade talks have been going well with the European Union and China, though added he is only days away from sending a tariff letter to the EU . Trump's remarks, made during a White House cabinet meeting, could inject further instability into a global economy that has been rattled by the tariffs he has imposed or threatened on imports to the world's largest consumer market. US copper futures jumped more than 10% after Trump's announcement of new duties on a metal that is critical to electric vehicles, military hardware, the power grid and many consumer goods. They would join duties already in place for steel, aluminum and automobile imports. US pharmaceutical stocks also slid from the day's highs following Trump's threat of 200% tariffs on drug imports, which he said could be delayed by about a year. Other countries, meanwhile, said they would try to soften the impact of Trump's threatened duties after he pushed back a Wednesday deadline to August 1. Trump's administration promised '90 deals in 90 days' after he unveiled an array of country-specific duties in early April. So far only two agreements have been reached, with the United Kingdom and Vietnam. Trump has said a deal with India is close. Trump said countries have been clamoring to negotiate. 'It's about time the United States of America started collecting money from countries that were ripping us off ... and laughing behind our back at how stupid we were,' he said. HIGHEST LEVELS SINCE 1934 Following Trump's announcement of higher tariffs for the 14 countries, US research group Yale Budget Lab estimated consumers face an effective US tariff rate of 17.6%, up from 15.8% previously and the highest since 1934. Goldman Sachs said Monday's actions would add 1.4 percentage points to the US effective tariff rate. Trump's administration has been touting those tariffs as a significant revenue source. Treasury Secretary Scott Bessent said Washington has taken in about $100 billion so far and could reach $300 billion by the end of the year. Global stocks showed muted reaction on Tuesday, as investors took in their stride the latest twist in the tariff saga. Trump said he will 'probably' tell the European Union within two days what rate it can expect for it exports to the US, adding that the 27-member bloc had been treating his administration 'very nicely' in trade talks. The EU, the largest bilateral trade partner of the US, aims to strike a deal before August 1 with concessions for certain key export industries, such as aircraft, medical equipment and spirits, according to EU sources. Brussels is also considering an arrangement that would protect European automakers with large US production facilities. However, German Finance Minister Lars Klingbeil warned that the EU was prepared to retaliate if necessary.


Business Recorder
an hour ago
- Business Recorder
Israeli army official says Iran hit some military sites last month
TEL AVIV: An Israeli military official said on Tuesday that Iranian air strikes last month had hit some Israeli military sites, the first such apparent public acknowledgement that such locations had been struck. The official, speaking on condition of anonymity in accordance with military briefing rules, said that 'very few' sites had been hit and that they remained functional. The official declined to provide further details, including identifying which military locations were affected or how severe the damage was to military infrastructure. Iran carried out waves of air strikes against Israel last month after Israel launched a surprise attack on June 13, targeting Iranian nuclear facilities and missile arsenal. The Iranian strikes frequently targeted densely populated cities Tel Aviv and Haifa, and the country's south around Beersheba, where there are a number of military facilities. Several residential buildings were hit in the attacks, although the Israeli military says that most incoming missiles and drones launched by Iran were intercepted during the 12-day war.


Business Recorder
an hour ago
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The new mayor on the block
A Jihadist. A terrorist. A communist. A Muslim. A lunatic. A firebrand. A socialist. A reformist. These and many others are the tags and labels being given to Zohran Mamdani the new nominee of the Democratic party's New York City mayor election. His race against Andrew Cuomo may seem a typical intra party politics but there is nothing typical about it. It is a campaign that has turned the staid and stale primary races into a scintillating duel between the old and the new, between the old and the young, between the set and the upset. It has created havoc with set way of running campaigns. It has created uproar in the set of running politics. And, it has created cracks in the set rules and regulations of the 'established' forces in America. All this blitz is not in a general election for the Presidential race, this is a mere primary race to elect a nominee for a mayor of a city. Despite that it has caught the imagination of the voters in New York. Despite that it has caught the eye of the global media. Despite that it has become the focus of electoral experts, geo political analysts, and social scientists. It has caught the electoral politics by a storm. Zohran Mamdani is everything that the big guns in the big parties love to hate. He is only 33 years of age. He is Muslim. He is anti-Netanyahu. He calls Narender Modi 'The butcher of Gujarat'. All these are big 'No Nos' in the big scheme of the big parties ruling the big superpower. Such daring and dashing rhetoric does catch the media attention but rarely translates into voter preference, but it has. That is the worrying point for those who for decades have supported the big powers in every illegal activity. Zohran Mamdani's campaign is not shocking, it is stunning. Some knock overs in the campaign are: The Underdog Vs the Bulldog— For somebody whose name hardly anybody knew, to come from behind and outrace the big Democrat stalwarts has kind of sent the party power brokers in a disbelief. Nobody thought he had a chance-not even the most reliable polls. Two of pre-election, nonpartisan polls had Cuomo leading in the first round. Emerson College showed Cuomo ahead by 3 points in the first round, and Marist University showed Cuomo leading by 12 points in the first-choice tally. Mamdani finished the unofficial tally 7 points ahead forcing Andrew Cuomo to withdraw from the race. Every attack that Mamdani received from his opponents, he turned it to his advantage. Nothing appeals more to the human instinct than the story of the boy next door giving it back to the boys on the Capitol Hill. He did exactly that. They called him names, he called out their corruption. They made fun of him, he ridiculed their performance. In many of the debates, he left his opponents speechless. When called out for inexperience he called back on their experienced harassment and embezzlement. They made fun of his name. He made fun of their inability to pronounce his name. It became the classic David Vs Goliath story. And, who can resist such a fairy-tale turned to reality. The Street, the door the sea— So Zohran Mamdani ran the campaign. Yes he actually 'ran' through the campaign. He was everywhere. In the boroughs, on the bus, in the underground, on the streets, in the halls, in the houses, in the sea. Yes he was. In the freezing waters. He just 'outran' his opponents who seemed stuck on their plush seats, too tacky in their attempts to connect to voters, and too obsolete in their ways of pouring in money to buy votes. On the election day pro-Cuomo Super Pac, funded by billionaire s including Trump supporters like Wall Street big gun Bill Ackman had spent $25m, on smear ads. Mamdani's Pac spent $1.2m, and a Working Families party-affiliated Pac put in $500,000. Mamdani had as many as 50,000 volunteers, who knocked over a million doors. Cuomo avoided the public and the press. Mamdani on the other hand was with the people, with the press available and accessible. That reinforced the image of those in higher places Vs he is just one of us. Listen, logic, talk style— Mamdani formed his campaign theme based on what the voters wanted. He said it was time to 'stop lecturing and start listening'. In his relentless meetings with the voter segments the common issue was economic agenda. He went around asking why some of the Democrat voters had voted for Trump and the answer was that cost of living four years earlier when Trump was there was cheaper. That gave rise to his campaign of 'Affordability'. He used the social media to logically present his theme of freezing rents and charging the wealthy higher taxes to fund this subsidy. Most politicians use the social media. However, the big smearing Ads made by big money are now a 'bore'. The curated speeches of candidates are considered stage-managed and far from reality. Mamdani changed all that. He 'ran' real on street and made online real-time videos which had a look of spontaneity, fun, energy and connectivity. He talked in English, Urdu, Spanish to connect to different segments. His videos catering to the South Asian voters used famous Bollywood clips to deliver the message in his witty style. He combined the old style of knock the doors, shake the hands campaigning with the modern, snappy, snazzy, funny, reels on the net that went viral. It is amazing how a single city primary race for the mayor has become the talk of global media. Of course, this is not just another city. This is one of the wealthiest cities in the world. This is a city that has the most Jews outside Israel. Zohran has won despite his declaration of getting Netanyahu arrested if he came to New York. He is bold and daring and unapologetic but in a charming and un-offensive way. His cheerful, smiling, slightly crumpled suited look make him look like the average professional on his way to the office. His articulate, logical, smart rhetoric and responses make his critics fumble for reactions. Many compare him with Obama's entry in politics. Obama was also from an African, Muslim descent. He was also from privileged schooling and very articulate. He also talked about peace and economic progress. He went on to become the President of America. But, he turned out to be the biggest arms salesman in the presidential history of America. Will Zohran maintain his authenticity despite the state establishment and despite the big money establishment? Only time will tell. Copyright Business Recorder, 2025