‘State of the science' under Trump? National Academies president plays it safe.
Those were the grim highlights of the second annual State of the Science address Tuesday by Marcia McNutt, president of the National Academy of Sciences.
But the country can change course, she said, by funding education, pursuing international collaborations and advancing national research strategies.
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Despite her stark warnings, McNutt took an understated approach to the chaos consuming U.S. research.
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Newsweek
16 minutes ago
- Newsweek
Trump Threatens 'Stupid' Iran
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump ridiculed Iran's continued pursuit of uranium enrichment following U.S. airstrikes on its key nuclear sites last month, expressing disbelief on Sunday at Tehran's persistence despite what he described as a decisive military blow to its ambitions. "They got the hell knocked out of them and they…I don't think they know it," Trump told reporters at his golf course in the Scottish village of Turnberry. He said Iran's insistence on enrichment was "stupid" and vowed to stop the program outright. Newsweek has reached out to the State Department and Iran's Foreign Ministry for comment. Why It Matters Trump's comments marked one of the sharpest threats from Washington since last month's 12-day war, when Israeli and U.S. strikes targeted Iran's nuclear facilities. Despite the losses, Tehran remains defiant on uranium enrichment—a key issue behind decades of U.S.-Iran tensions. The U.S. leader's remarks highlight a growing divide: Iran claims its program is peaceful and scientific, while the U.S. sees enrichment as a path to nuclear weapons—something Trump insists he would never allow. President Donald Trump speaks as he meets European Commission President Ursula von der Leyen at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. President Donald Trump speaks as he meets European Commission President Ursula von der Leyen at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. Jacquelyn Martin/AP Photo What to Know Following a meeting with EU chief Ursula Von der Leyen, Trump expressed surprise at Iran's ongoing pursuit of uranium enrichment. "They still talk about enrichment," he said. "Who would do that? You just come out of something that's so bad, and they talk about, we want to continue enrichment." He added: "How stupid can you be to say that?" Trump also condemned Iran's rhetoric, saying: "Iran has been very nasty with their words, with their mouth. They got the hell knocked out of them and they…I don't think they know it. I actually don't think they know." Nuclear Damage On June 22, U.S. forces struck Iran's nuclear facilities at Fordow, Esfahan and Natanz, following a 12-day Israeli offensive. In retaliation, Iran launched missile attacks on Al-Udeid Air Base in Qatar—the largest U.S. military installation in the Middle East—claiming it was a direct response to American aggression. Although Iran reported successful strikes, U.S. and Qatari officials stated that all missiles were intercepted and no casualties or major damage occurred. Portraits of children and teenagers who were killed in the June 13 Israeli airstrike at a residential compound in Tehran, Iran, are displayed with some of their belongings on Saturday, July 19, 2025. Portraits of children and teenagers who were killed in the June 13 Israeli airstrike at a residential compound in Tehran, Iran, are displayed with some of their belongings on Saturday, July 19, 2025. AP Photo National Pride Iranian Foreign Minister Abbas Araghchi recently reaffirmed that Iran would not abandon its uranium enrichment program. He called the effort both a scientific success and a patriotic symbol. "Our enrichment is so dear to us," Araghchi said. Meanwhile, Iran has said that it would proceed with nuclear negotiations alongside European powers following "serious, frank and detailed" discussions in Istanbul last week. What People Are Saying U.S. President Donald Trump: "The whole thing's a con job…Iran was beaten up very badly, for good reason. We cannot have them have a nuclear weapon." Iranian Foreign Minister Abbas Araghchi: "Obviously we cannot give up our enrichment, because it is an achievement of our own scientists and now more than that, it is a question of national pride." What Happens Next Trump's latest comments indicate the U.S. will continue pressuring Iran diplomatically and militarily to abandon uranium enrichment. While talks with European powers are ongoing following recent meetings in Turkey, no deal has been reached yet, and tensions between Washington and Tehran remain high with the risk of further escalation.
News24
18 minutes ago
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Markets boosted after EU, US strike trade deal
Stock markets rose in Europe and Asia on Monday after the European Union and United States hammered out a deal to avert a potentially damaging trade war. News of the deal, announced by US president Donald Trump and European Commission head Ursula von der Leyen on Sunday, followed a series of US trade agreements last week, including with Japan, and comes ahead of a new round of China-US talks. Investors were also gearing up for a busy week of data, central bank decisions and earnings from some of the world's biggest companies. Trump and von der Leyen announced at his golf resort in Scotland that a baseline tariff of 15 percent would be levied on EU exports to the United States. "We've reached a deal. It's a good deal for everybody. This is probably the biggest deal ever reached in any capacity," Trump said, adding that the levies would apply across the board, including for Europe's crucial automobile sector, pharmaceuticals and semiconductors. Brussels also agreed to purchase "$750 billion worth of energy" from the United States, as well as make $600 billion in additional investments. "It's a good deal," von der Leyen said. "It will bring stability. It will bring predictability. That's very important for our businesses on both sides of the Atlantic." Equities built on their recent rally, fanned by relief that countries were reaching deals with Washington. Paris rose one percent, with Frankfurt and London also tracking gains in Hong Kong, Shanghai, Sydney, Seoul, Wellington, Taipei and Jakarta. Tokyo fell for a second day, having soared about five percent on Wednesday and Thursday in reaction to Japan's US deal. Singapore, Manila and Mumbai were also lower. The broad gains came after another record day for the S&P 500 and Nasdaq on Wall Street. "The news flow from both the extension with China and the agreement with the EU is clearly market-friendly, and should put further upside potential into the euro... and should also put renewed upside into EU equities," said Chris Weston at Pepperstone. Traders are gearing up for a packed week, with a delegation including US Treasury Secretary Scott Bessent holding fresh trade talks with a Chinese team headed by Vice Premier He Lifeng in Stockholm. While in April both countries imposed tariffs that reached triple-digits, US duties this year have temporarily been lowered to 30 percent and China's countermeasures slashed to 10 percent. The 90-day truce, instituted after talks in Geneva in May, is set to expire on August 12. China said it was seeking "mutual respect and reciprocity" in the talks. Also on the agenda are earnings from tech titans Amazon, Apple, Meta and Microsoft, as well as data on US economic growth and jobs. The Federal Reserve's latest policy meeting is expected to conclude with officials standing pat on interest rates, though investors are keen to see what their views are on the outlook for the rest of the year in light of Trump's tariffs and recent trade deals. "We think the data supports a Fed on hold in July, but absent a significant upside surprise in the upcoming inflation data, September could be a 'live' meeting for a resumption of rate cuts, especially if economic activity data and possibly overwhelming political pressure force the Fed's hand," said Michael Krautzberger at Allianz. The Bank of Japan is also forecast to hold off on any big moves on borrowing costs. By mid-morning, the JSE's All-Share index was flat, with Valterra down more than 2% after releasing its results.
Yahoo
an hour ago
- Yahoo
Oil prices rise as US-EU deal lifts trade optimism
Oil (BZ=F, CL=F) Oil prices climbed in early European trading on Monday following a trade agreement between the United States and the European Union, easing fears of escalating transatlantic trade tensions ahead of a key tariff deadline. Brent (BZ=F) crude futures gained 0.9% to trade at $69.04 per barrel, at the time of writing, while West Texas Intermediate (CL=F) futures climbed by 0.8% to $65.70 a barrel. The modest gains came after Washington and Brussels struck a last-minute trade pact on Sunday, ahead of US president Donald Trump's 1 August deadline for a new round of tariffs on EU imports. Under the agreement, most European goods will now face a 15% import tariff, half the rate initially proposed by the US administration. Read more: FTSE 100 LIVE: Markets higher as EU agrees 15% tariff in US trade deal The agreement, which averts a broader trade conflict between two economies that together account for nearly a third of global trade, helped support sentiment in financial markets, including oil. "With the risk of a prolonged trade war and the importance of the August tariff deadlines being steadily defused, markets have responded positively," IG markets analyst Tony Sycamore said in a note. The deal also raised hopes of further de-escalation in global trade tensions, including a potential extension of the current tariff pause between Washington and Beijing. However, gains in crude prices were tempered by investor caution ahead of a meeting of the Opec+ alliance on Monday. The group is expected to review the pace at which it is easing supply curbs implemented during the pandemic-induced downturn. Gold (GC=F) Gold prices were muted on Monday morning, as the trade agreement between the US and the EU boosted investor confidence and dampened demand for the traditional safe haven asset. Gold futures were flat at $3,335.90 per ounce, at the time of writing, while spot gold advanced 0.1% to $3,341.97 per ounce. The precious metal lost some of its appeal as markets digested news of a new transatlantic trade deal that helped ease tensions between Washington and Brussels. The agreement has lifted broader market sentiment, weighing on gold, which tends to perform best during periods of heightened uncertainty. Stocks: Create your watchlist and portfolio Analysts noted that progress toward a trade truce lowered uncertainty, drawing funds into equities and reducing bullion's attraction. Gold's gains were further capped by investor caution ahead of a closely watched US Federal Reserve policy decision due later this week. The central bank is widely expected to leave its benchmark interest rate unchanged in the 4.25%-4.50% range when its two-day meeting concludes on Wednesday. "In the short term, we don't expect gold to experience wild swings. Investors are turning their focus to a pivotal week for US monetary policy and economic data," Jigar Trivedi, senior commodity analyst at Reliance Securities, told Reuters. Pound (GBPUSD=X, GBPEUR=X) The pound held flat against the US dollar on Monday morning, trading at $1.3424, as a quiet UK data calendar left the currency largely directionless and vulnerable to broader dollar moves ahead of a crucial week for US economic releases and Federal Reserve policy. The US dollar index ( which measures the greenback against a basket of six currencies, was higher at 97.88. Tuesday is set to bring the latest US job openings figures and consumer confidence data. While job openings are forecast to have declined in June, sentiment is expected to have improved in July, a combination that could generate mixed signals for the dollar. Wednesday's calendar features the first estimate of second-quarter US GDP growth and the Fed's interest rate decision. A strong GDP reading, coupled with continued resistance to near-term rate cuts, could provide fresh momentum for the dollar. Read more: How to get the best currency exchange deal for your holiday money Thursday sees the release of the core PCE price index, the Federal Reserve's preferred inflation gauge. A rise in June's figure, as anticipated, would likely bolster the greenback further. However, Friday's non-farm payrolls report may temper the rally. The July data is expected to show a sharp slowdown in employment growth and a slight uptick in the unemployment rate from 4.1% to 4.2%, a figure that could put some downward pressure on the dollar. Elsewhere in currencies, the pound pushed higher against the euro. Sterling was up 0.3% against the single currency to trade at €1.1473 at the time of writing. In equities, the FTSE 100 (^FTSE) was in the green this morning, up 0.3% to 9,148 points. For more details, on market movements check our live coverage here.
