UK says US ruling on Trump's tariffs ‘only first stage' of legal proceedings
The British government said on Thursday that a court ruling blocking US President Donald Trump's tariffs was a domestic matter for his administration, but it noted that it was 'only the first stage of legal proceedings.'
'These are matters for the United States to determine domestically and we note this is only the first stage of legal proceedings,' a government spokesperson said.
'We were the first country to secure a deal with the US in a move to protect jobs across key sectors, from autos to steel, and we are working to ensure that businesses can benefit from the deal as quickly as possible.'
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Arab News
an hour ago
- Arab News
Pope Leo XIV faces funding challenges for cash-strapped Vatican
VATICAN CITY: The world's smallest country has a big budget problem. The Vatican doesn't tax its residents or issue bonds. It primarily finances the Catholic Church's central government through donations that have been plunging, ticket sales for the Vatican Museums, as well as income from investments and an underperforming real estate portfolio. The last year the Holy See published a consolidated budget, in 2022, it projected €770 million ($878 million), with the bulk paying for embassies around the world and Vatican media operations. In recent years, it hasn't been able to cover costs. That leaves Pope Leo XIV facing challenges to drum up the funds needed to pull his city-state out of the red. Withering donations Anyone can donate money to the Vatican, but the regular sources come in two main forms. Canon law requires bishops around the world to pay an annual fee, with amounts varying and at bishops' discretion 'according to the resources of their dioceses.' US bishops contributed over one-third of the $22 million (€19.3 million) collected annually under the provision from 2021-2023, according to Vatican data. The other main source of annual donations is more well-known to ordinary Catholics: Peter's Pence, a special collection usually taken on the last Sunday of June. From 2021-2023, individual Catholics in the US gave an average $27 million (€23.7 million) to Peter's Pence, more than half the global total. American generosity hasn't prevented overall Peter's Pence contributions from cratering. After hitting a high of $101 million (€88.6 million) in 2006, contributions hovered around $75 million (€66.8 million) during the 2010's then tanked to $47 million (€41.2 million) during the first year of the COVID-19 pandemic, when many churches were closed. Donations remained low in the following years, amid revelations of the Vatican's bungled investment in a London property, a former Harrod's warehouse that it hoped to develop into luxury apartments. The scandal and ensuing trial confirmed that the vast majority of Peter's Pence contributions had funded the Holy See's budgetary shortfalls, not papal charity initiatives as many parishioners had been led to believe. Peter's Pence donations rose slightly in 2023 and Vatican officials expect more growth going forward, in part because there has traditionally been a bump immediately after papal elections. New donors The Vatican bank and the city state's governorate, which controls the museums, also make annual contributions to the pope. As recently as a decade ago, the bank gave the pope around €55 million ($62.7 million) a year to help with the budget. But the amounts have dwindled; the bank gave nothing specifically to the pope in 2023, despite registering a net profit of €30 million ($34.2 million), according to its financial statements. The governorate's giving has likewise dropped off. Some Vatican officials ask how the Holy See can credibly ask donors to be more generous when its own institutions are holding back. Leo will need to attract donations from outside the US, no small task given the different culture of philanthropy, said the Rev. Robert Gahl, director of the Church Management Program at Catholic University of America's business school. He noted that in Europe there is much less of a tradition (and tax advantage) of individual philanthropy, with corporations and government entities doing most of the donating or allocating designated tax dollars. Even more important is leaving behind the 'mendicant mentality' of fundraising to address a particular problem, and instead encouraging Catholics to invest in the church as a project, he said. Speaking right after Leo's installation ceremony in St. Peter's Square, which drew around 200,000 people, Gahl asked: 'Don't you think there were a lot of people there that would have loved to contribute to that and to the pontificate?' In the US, donation baskets are passed around at every Sunday Mass. Not so at the Vatican. Untapped real estate The Vatican has 4,249 properties in Italy and 1,200 more in London, Paris, Geneva and Lausanne, Switzerland. Only about one-fifth are rented at fair market value, according to the annual report from the APSA patrimony office, which manages them. Some 70 percent generate no income because they house Vatican or other church offices; the remaining 10 percent are rented at reduced rents to Vatican employees. In 2023, these properties only generated €35 million euros ($39.9) in profit. Financial analysts have long identified such undervalued real estate as a source of potential revenue. But Ward Fitzgerald, the president of the US-based Papal Foundation, which finances papal charities, said the Vatican should also be willing to sell properties, especially those too expensive to maintain. Many bishops are wrestling with similar downsizing questions as the number of church-going Catholics in parts of the US and Europe shrinks and once-full churches stand empty. Toward that end, the Vatican recently sold the property housing its embassy in Tokyo's high-end Sanbancho neighborhood, near the Imperial Palace, to a developer building a 13-story apartment complex, according to the Kensetsu News trade journal. Yet there has long been institutional reluctance to part with even money-losing properties. Witness the Vatican announcement in 2021 that the cash-strapped Fatebenefratelli Catholic hospital in Rome, run by a religious order, would not be sold. Pope Francis simultaneously created a Vatican fundraising foundation to keep it and other Catholic hospitals afloat. 'They have to come to grips with the fact that they own so much real estate that is not serving the mission of the church,' said Fitzgerald, who built a career in real estate private equity.
Al Arabiya
2 hours ago
- Al Arabiya
Boeing prepares to resume plane deliveries to China as tariff war eases
A new Boeing 737 MAX painted with Xiamen Airlines livery left Seattle on Friday on the first leg of the route used to shuttle jets to the company's delivery center in China, according to flight records on FlightRadar24. The plane was bound for Kailua-Kona, Hawaii, one of the refueling stops Boeing jets make on their way across the Pacific to China. Deliveries to Chinese customers were abruptly halted in early April as the US and China edged toward a trade war. A Boeing spokesperson declined to comment on the jetliner's ultimate destination. Xiamen Airlines and the Chinese government could not immediately be reached for comment. Deliveries to China of new Boeing aircraft stopped in April in response to tariffs imposed by President Donald Trump. However, on May 12, the US and China agreed to roll back the bulk of tariffs for 90 days. Trump said on Friday that US and Chinese representatives would meet June 9 in London to talk about a trade deal. Boeing CEO Kelly Ortberg on May 29 said Chinese airlines would resume taking deliveries of Boeing aircraft in June. At least three 737 MAX jets were repatriated by Boeing to the United States in April from Boeing's Zhoushan completion center near Shanghai, where they had been placed for final work before delivery to Chinese carriers. The first plane to return from China was the same one that left Friday for Hawaii. Boeing has previously said customers in China would not take delivery of new planes due to tariffs, and it was looking to resell potentially dozens of aircraft. Beijing has not commented on why Boeing deliveries stopped, but said Chinese airlines and Boeing had been severely affected by US-imposed tariffs. China represents about 10 percent of Boeing's commercial backlog and is an important and growing aviation market. Boeing in April said it had planned for 50 jets to go to Chinese carriers during the rest of the year, with 41 in production or pre-built. While Boeing had said other airlines are interested in taking rejected Chinese planes, the planemaker has not sent the planes elsewhere despite aiming to reduce inventory levels.
Al Arabiya
2 hours ago
- Al Arabiya
Trump signs orders to bolster US drone defenses, boost supersonic flight
President Donald Trump on Friday signed executive orders to bolster US defenses against threatening drones and to boost electric air taxis and supersonic commercial aircraft, the White House said. In the three executive orders, Trump sought to enable routine use of drones beyond the visual sight of operators — a key step to enabling commercial drone deliveries — and to take steps to reduce the US reliance on Chinese drone companies and begin testing electric vertical takeoff and landing (eVTOL) aircraft. Trump is establishing a federal task force to ensure US control over American skies, expand restrictions over sensitive sites, broaden federal use of technology to detect drones in real time, and provide assistance to state and local law enforcement. Trump also aims to address the 'growing threat of criminal terrorists and foreign misuse of drones in US airspace,' said Michael Kratsios, director of the White House Office of Science and Technology Policy. 'We are securing our borders from national security threats, including in the air, with large-scale public events such as the Olympics and the World Cup on the horizon.' Sebastian Gorka, senior director of counterterrorism at the National Security Council, cited the use of drones in Russia's war in Ukraine and threats to major US sporting events. 'We will be increasing counter-drone capabilities and capacities,' Gorka said. 'We will increase the enforcement of current laws to deter two types of individuals: evildoers and idiots.' The issue of suspicious drones also gained significant attention last year after a flurry of drone sightings in New Jersey. The FAA receives more than 100 drone-sighting reports near airports each month. Drone sightings have at times disrupted flights and sporting events. Trump also directed the Federal Aviation Administration to lift a ban imposed in 1973 on supersonic air transport over land. 'The reality is that Americans should be able to fly from New York to L.A. in under four hours,' Kratsios said. 'Advances in aerospace engineering, material science, and noise reduction now make overland supersonic flight not just possible, but safe, sustainable, and commercially viable.' The Trump orders do not ban any Chinese drone company, officials said. Last year, former President Joe Biden signed legislation that could ban China-based DJI and Autel Robotics from selling new drone models in the US. DJI, the world's largest drone manufacturer, sells more than half of all US commercial drones.
