Ukraine: Former POWs struggle to rebuild their lives
28/07/2025
Israel begins daily pause in fighting in 3 Gaza areas to allow 'minimal' aid as hunger grows
28/07/2025
US and EU strike deal with 15% tariff to avert trade war
28/07/2025
Euro 2025 final: England beat Spain in penalty shootout
28/07/2025
Turkey battles wildfires amid strong winds, heatwave
28/07/2025
Thai, Cambodian leaders hold ceasefire talks in Malaysia
28/07/2025
War in Gaza: Israel says 120 trucks of aid distributed
28/07/2025
US and EU clinch deal with 15% US tariff on most EU exports to avert trade war
28/07/2025
Tadej Pogacar wins a fourth Tour de France, Wout van Aert takes the final stage
28/07/2025
Trump and Von der Leyen strike a deal in transatlantic tariff standoff
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France 24
39 minutes ago
- France 24
Sensible and steely: how Mexico's Sheinbaum has dealt with Trump
The pair are known to get along despite sitting on opposite sides of the political aisle, earning Mexico's first woman president the epithet of "Trump whisperer." At least three times now, the US president has granted Mexico tariff relief and Trump has described Sheinbaum as a "wonderful woman" to the envy of a host of other world leaders who have found exchanges with Trump can be tetchy. On Thursday, Trump agreed to delay by 90 days a 30 percent general tariff on imported Mexican goods, just hours before it was to take effect. It was the outcome of the ninth phone conversation between the two leaders since Trump returned to power in January with a strong rhetoric against undocumented migrants and fentanyl flowing from America's southern neighbor. How did she do it? "With a cool head," the president herself told reporters Friday. The 63-year-old physicist and dedicated leftist added that she avoids "confronting" the magnate, all the while insisting on Mexico's sovereign rights in dealing with a man known to respect strong leaders. Sheinbaum has said that Mexicans should "never bow our heads" and Trump has acknowledged her mettle, remarking: "You're tough" in one phone call, according to The New York Times. "Mexico represents a lot to the United States... they are aware of that," Sheinbaum explained. 'Ability to convince' Thanks to the USMCA free trade agreement between Mexico, the United States and Canada, nearly 85 percent of Mexican exports have been tariff-free. And while a 30 percent general tariff has been delayed, for now, Mexico's vital automotive sector is the target of a 25 percent levy, albeit with discounts for parts manufactured in the United States. Its steel and aluminum sectors, like those of other countries, are subject to a 50 percent tariff. Mexico's government nevertheless claims the latest delay as a victory. "Without being sycophantic, I can tell you that the way our president handles her conversations, her approach, the firmness with which she defends Mexico's interests, her ability to convince President Trump, is very significant," Secretary of Economy Marcelo Ebrard, who leads trade negotiations, told reporters Thursday. Give and take Sheinbaum seems also to have adopted a give and take approach, deploying thousands of border troops to assuage Trump's concerns about migration and drug flows. The president insists she has "not yielded anything" in negotiations with Trump, and talks are ongoing between the neighbors for a security agreement to tackle the problem of fentanyl and drug trafficking. Sheinbaum has also raised the possibility of importing more US products to reset the trade balance. Some fear the Mexican leader is merely buying time. The latest tariff delay "does not solve the issue of uncertainty; we return to the starting point," Diego Marroquin, a trade expert at the Center for Strategic and International Studies in Washington, told AFP.
LeMonde
2 hours ago
- LeMonde
Federal Reserve Governor Kugler steps down, giving 'very happy' Trump a slot to fill
The Federal Reserve announced Friday, August 1, that Governor Adriana Kugler will step down next week, opening up a spot on the central bank's powerful board that President Donald Trump will be able to fill. Kugler, who did not participate in the Fed's policy meeting earlier this week, would have completed her term in January. Instead, she will retire August 8. She did not provide a reason for stepping down in her resignation letter. Trump said he was "very happy" about the upcoming vacancy, after Kugler submitted her letter of resignation to him. He has continued his attacks on the Fed since chair Jerome Powell said Wednesday that the central bank would keep its short-term interest rate unchanged. Powell also said the Fed could take months to evaluate the impact of tariffs on the economy before deciding to cut rates, as Trump has demanded. Powell is "a stubborn MORON, must substantially lower interest rates, NOW," Trump posted early Friday morning, before the monthly jobs report was released. That report showed hiring slowed in July and was much lower in May and June than had been initially reported. Kugler was appointed to the Fed's seven-member board of governors by former President Joe Biden in September 2023. She was the first Hispanic Fed governor, and prior to joining the Fed, was a professor at Georgetown University and was the US representative to the World Bank. She will return to the Georgetown faculty in the fall. "I am proud to have tackled this role with integrity, a strong commitment to serving the public, and with a data-driven approach strongly based on my expertise in labor markets and inflation," she said in her resignation letter. The rate debate In her last speech as a Fed governor two weeks ago, Kugler expressed support for Powell's view that the central bank should keep rates unchanged while officials monitor the economy to see how Trump's tariffs affect inflation and the economy. Trump, meanwhile, has said he will appoint Fed officials who favor cutting rates. One complication is that Powell's term as chair ends in May 2026. But his position on the Fed's governing board lasts through January 2028. As a result, he could stay on the board even after stepping down as chair, and simply remain as one of seven governors. There is some precedent for such a step: Marriner Eccles, who served as Fed chair in the 1930s, remained on the board after completing his term as chair. If Powell took such a step, that would mean whomever the Trump administration chose to replace Kugler could then be elevated to chair after Powell finishes as chair in May 2026. In other words, to get their choice of Fed Chair in 2026, the Trump White House may choose to appoint that person to replace Kugler as governor, and then elevate them to Fed chair in May 2026. Powell has declined to answer at the last two press conferences whether he will leave the board when he is done as chair.
France 24
3 hours ago
- France 24
Brazilians burn Trump effigies as tariffs spark anger
Anti-Trump protests were held in Brasilia, Sao Paulo and Rio de Janeiro, a sign of souring ties between two of the Americas' largest economies. The demonstrations were modestly attended, but reflected broad anger at Trump's decision to put a 50 percent tariff on Brazilian exports and to sanction a top judge. The mercurial US president has openly admitted he is punishing Brazil for prosecuting his political ally, ex-president Jair Bolsonaro. The far-right Brazilian firebrand is currently on trial for plotting a coup after failing to win reelection in 2022. Bolsonaro supporters stormed Brazil's congress in January 2023, ransacking the chambers and attacking police, in scenes reminiscent of Trump supporters' attack on the US Capitol two years before. A Brazilian general has given evidence that the alleged plotters also wanted to assassinate leftist President Luiz Inacio Lula da Silva and several other public officials. Trump has called the trial a "witch hunt" and his Treasury Department has sanctioned Supreme Court Justice Alexandre de Moraes in response. Trump also signed an executive order slapping 50 percent tariffs on Brazilian imports, citing Bolsonaro's "politically motivated persecution." The tariff is due to enter into force on August 6. Moraes, in a rare public address, said Friday he pledged to "continue working" despite a US travel ban and assets freeze. "This Court, the Office of the Attorney General, and the Federal Police will not bow to these threats," he said during a court session. And he vowed the court would remain "absolutely uncompromising in defending national sovereignty and its commitment to democracy." Moraes has repeatedly taken aim at the Brazilian far-right and its figurehead Bolsonaro, as well as tech titan Elon Musk, over online disinformation. He is also the presiding judge in the coup trial of Bolsonaro, who risks a 40-year prison sentence. Secretary of State Marco Rubio has accused Moraes of "serious human rights abuses, including arbitrary detention involving flagrant denials of fair trial guarantees and infringing on the freedom of expression." Moraes recently ordered Bolsonaro to wear an electronic ankle bracelet pending the conclusion of his trial, and barred him from leaving his home at night or using social media pending an investigation into potential obstruction of justice.
