Higher US tariffs could mean recession, deflation for Japan
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
14 minutes ago
- Nikkei Asia
Elon Musk says 'America Party' is formed after Trump feud
Elon Musk speaks during a press conference at the White House in Washington, D.C. on May 30. © Reuters (Reuters) -- A day after asking his followers on X whether a new U.S. political party should be created, Elon Musk said on Saturday that the "America Party is formed." "By a factor of 2 to 1, you want a new political party and you shall have it!" he said in a post on X. "Today, the America Party is formed to give you back your freedom." The announcement from Musk comes after President Donald Trump signed a tax-cut and spending bill into law on Friday, which the billionaire chief executive officer of Tesla fiercely opposed. Musk spent hundreds of millions on Trump's re-election and led the Department of Government Efficiency under the Trump administration aimed at slashing government spending, but the two have since fallen out over disagreements about the bill. Trump earlier this week threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government. Musk said previously that he would start a new political party and spend money to unseat lawmakers who supported the bill. Republicans have expressed concern that Musk's on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.
Japan Today
2 hours ago
- Japan Today
Trump to push Netanyahu for Gaza truce in crunch talks
Israeli Prime Minister Benjamin Netanyahu is visiting the White House for the third time since US President Donald Trump returned to power By Danny Kemp with Michael Blum U.S. President Donald Trump hosts Benjamin Netanyahu at the White House on Monday to press the Israeli prime minister to end the war with Hamas in Gaza. Trump has vowed to be tough on Netanyahu as he hopes to use the momentum from the truce between Iran and Israel to secure a ceasefire in the devastated Palestinian territory, too. Trump says Israel is committed to a 60-day halt in fighting and Hamas says it has responded positively to a U.S.-backed proposal -- but sealing a final deal to end the 21-month-old war will be easier said than done. Netanyahu, who is making his third visit to the White House since Trump returned to power in January, has vowed to crush Hamas before ending the conflict. Yet Trump, determined to win the Nobel peace prize and riding a wave of recent foreign and domestic policy victories, is making a renewed push for a result. "There could be a Gaza deal next week," Trump told reporters on Air Force One on Friday. He said he was "very optimistic" about a deal but added that "it changes from day to day. It's been changing for years." In response to reports that Hamas had responded positively to proposed truce talks, Trump said "that's good," although he said he had not yet been fully briefed on this development. Trump and Netanyahu were in lockstep during the recent Iran-Israel war, which culminated in the U.S. president ordering stealth bombers to strike three crucial Iranian nuclear sites. Washington says the sites were "obliterated" and Iran's nuclear program put back years, although Iran has denied any significant setback. The West accuses Iran of seeking a nuclear bomb, which Tehran denies. But on Gaza, Trump is showing signs of increasing unease with the death and destruction still happening as Israel wages the conflict triggered by a huge Hamas attack on October 7, 2023. "We have to get it over with. We have to do something about Gaza," Trump said on Friday. Trump seems to have parked, for now, his extraordinary proposal for a U.S. takeover of Gaza that he floated during Netanyahu's first visit in February. "I want the people of Gaza to be safe, more importantly," Trump said when asked about the plan earlier this week. "They've been through hell." Trump has also pushed for the release of hostages held by Hamas and other Palestinian militant groups in Gaza. He met one released hostage, Edan Alexander, at the White House on Thursday. But while the author of the book "Art of the Deal" prides himself on his negotiating skills, Trump in many ways has an equal in Netanyahu, a political survivor of his own ilk. "I think we're going to see a strategic meeting in the style of 'grand bargaining', as Trump likes them," Michael Horowitz, an independent geopolitical analyst, told AFP. "Even Mr Netanyahu is aware that we are reaching the end of what can be done in Gaza, and that it is time to plan an exit. Netanyahu surely wants it to be gradual." Trump however will be pushing for something quicker and more comprehensive. He boasted on the 2024 campaign trail that he would end both the war in Gaza and Russia's invasion shortly after taking office, but peace in both cases has eluded him so far. Two previous Gaza ceasefires mediated by Qatar, Egypt and the United States secured temporary halts in fighting and the return of Israeli hostages in exchange for Palestinian prisoners, only to break down. The Hamas attack of October 2023 resulted in the deaths of 1,219 people, mostly civilians, according to an AFP tally based on Israeli official figures. Israel's retaliatory campaign has killed at least 57,338 people in Gaza, also mostly civilians, according to the Hamas-run territory's health ministry. The United Nations considers the figures reliable. © 2025 AFP
Japan Today
2 hours ago
- Japan Today
Ukraine says it struck a Russian air base as Russia sent hundreds of drones into Ukraine
In this photo provided by the Ukrainian Emergency Service, emergency services personnel work to extinguish a fire following a Russian attack in Kharkiv region, Ukraine, Saturday, July 5, 2025. (Ukrainian Emergency Service via AP) By ELISE MORTON Ukraine said it struck a Russian air base on Saturday, while Russia continued to pound Ukraine with hundreds of drones overnight as part of a stepped-up bombing campaign that has dashed hopes for a breakthrough in efforts to end the more than 3-year-old war. Ukraine's military General Staff said that Ukrainian forces had struck the Borisoglebsk air base in Russia's Voronezh region, describing it as the home base of Russia's Su-34, Su-35S and Su-30SM fighter jets. Writing on Facebook, the General Staff said it hit a depot containing glide bombs, a training aircraft and 'possibly other aircraft." Russian officials did not immediately comment on the attack. Such attacks on Russian air bases aim to dent Russia's military capability and demonstrate Ukraine's capability to hit high-value targets in Russia. Last month, Ukraine said it destroyed more than 40 Russian planes stationed at several airfields deep in Russia's territory in a surprise drone attack. Russia fired 322 drones and decoys into Ukraine overnight into Saturday, Ukraine's air force said. Of these, 157 were shot down and 135 were lost, likely having been electronically jammed. According to the air force, Ukraine's western Khmelnytskyi region was the main target of the attack. Regional Gov. Serhii Tyurin said Saturday that no damage, injuries or deaths had been reported. Russia has been stepping up its long-range attacks on Ukraine. Waves of drones and missiles targeted Kyiv overnight into Friday in the largest aerial assault since Russia's invasion of Ukraine began. On Saturday, Kyiv Mayor Vitali Klitschko said the number of people killed in the assault had increased to two. A further 31 people were wounded. The fresh wave of attacks came after Ukrainian President Volodymyr Zelenskyy said Friday that he had a 'very important and productive' phone call with U.S. President Donald Trump. The two leaders discussed how Ukrainian air defenses might be strengthened, possible joint weapons production between the U.S. and Ukraine, and broader U.S-led efforts to end the war with Russia, according to a statement by Zelenskyy. Asked Friday night by reporters about the call, Trump said, 'We had a very good call, I think.' When asked about finding a way to end the fighting, Trump said: 'I don't know. I can't tell you whether or not that's going to happen.' The U.S. has paused some shipments of military aid to Ukraine, including crucial air defense missiles. Ukraine's main European backers are considering how they can help pick up the slack. Zelenskyy says plans are afoot to build up Ukraine's domestic arms industry, but scaling up will take time. Russia's Defense Ministry said it shot down 94 Ukrainian drones overnight into Saturday, along with 45 further drones Saturday morning and early afternoon. No casualties were reported, but local officials in the Saratov region said 25 apartments were damaged by Ukrainian drones in the city of Engels. Four Ukrainian drones were shot down while approaching Moscow on Saturday, according to Moscow Mayor Sergei Sobyanin. Air traffic was briefly halted as a precaution at one of Moscow's airports, Sheremetyevo, Russia's aviation authority Rosaviatsiya said. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
