China beefs up trade talk; Russia-Ukraine agree prisoner return
Ata mārie and welcome to a short working week. Here's a summary of what's been happening around the world over the long weekend.
First today, China said the United States had "severely violated" the trade truce and could take strong measures to defend its interests, the BBC reported.
China's Ministry of Commerce said the US "seriously undermined" the agreement reached during talks in Geneva last month.
On Friday, US President Donald Trump said China had violated its agreement. He did not give details. Trade representative Jamieson Greer later said China had not been removing non-tariff barriers as agreed under the deal.
The US lowered tariffs from China from 145% to 30%. China also dropped its tariffs on US goods from 125% to 10%.
Trump and Chinese President Xi Jinping could speak by phone this week, according to the White House.
The US sharemarket opened weaker on Monday, as investors responded to the confrontational tone of messages between the US and China, CNBC reported.
CNN noted that Trump announced an increase on tariffs on imported steel to 50%, double the current rate.
'We're going to bring it from 25% to 50%, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States. Nobody's going to get around that,' he said.
The higher tariff rate comes into effect later this week.
Ukrainian President Volodymyr Zelensky.
Elsewhere, Russia and Ukraine agreed to exchange more prisoners and return the bodies of 12,000 dead soldiers, Reuters reported.
Representatives met in Istanbul on Monday local time. Turkish President Tayyip Erdogan described it as a good meeting. He hoped to bring together Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky for a meeting.
Russia said it wanted a long-term settlement, not a pause in the war. Al Jazeera also reported on comments from an aide to Zelensky, who said Russia did not want a ceasefire and more sanctions were needed.
Andriy Yermak posted the comments online, hours after the conclusion of the peace talks.
'The Russians are doing everything to not cease firing and continue the war. New sanctions now are very important,' Yermak wrote.
Meanwhile, a Russian memorandum presented to Ukraine showed the gradual restoration of diplomatic and economic ties, including natural gas, Bloomberg reported.
Ukraine said it needed time to reflect on the document. Russian gas flows via Ukraine stopped in January after Ukraine refused to extend a five-year gas transit agreement.
Russia still supplies pipeline gas to Serbia and Hungary, which bypasses Ukraine, Bloomberg noted.
And CNN reported the UK planned to build new attack submarines, invest billions on nuclear warheads, and move towards 'war-fighting readiness,' Prime Minister Keir Starmer said.
Starmer said up to 12 new attack submarines would be built as part of its AUKUS partnership with the US and Australia, replacing the country's current seven subs.
'When we are being directly threatened by states with advanced military forces, the most effective way to deter them is to be ready, and frankly, to show them that we're ready to deliver peace through strength,' Starmer said.
Bill Gates.
Finally, Microsoft founder Bill Gates planned to gift most of his US$200 billion fortune to improving health and education services in Africa over the next 20 years, the BBC reported.
"By unleashing human potential through health and education, every country in Africa should be on a path to prosperity," he said.
Gates urged Africa's young innovators to ponder how artificial intelligence could improve healthcare in their countries.
Overall, Gates planned to gift 99% of his fortune by 2045.
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