
Iran-US nuclear talks in Oman cancelled
"The Iran-US talks scheduled to be held in Muscat this Sunday will not now take place. But diplomacy and dialogue remain the only pathway to lasting peace," Al Busaidi wrote.
The Iranian Foreign Ministry had previously said that the government sees no purpose in continuing the negotiations following Israel's large-scale attack on Iranian nuclear sites, military leaders and top scientists early on Friday.
Washington and Tehran have been negotiating over Iran's controversial nuclear programme for around two months. Oman has been mediating the talks.

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Why has Washington sanctioned the Palestinian leadership?
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Al Jazeera
19 hours ago
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How are countries and markets reacting to Trump tariffs?
President Donald Trump's administration has unveiled a range of new tariffs to take effect in one week on most US trading partners. Nearly 70 countries face Trump's import duties that were due to come into force on August 1; most were delayed at the last minute and will begin on August 7. Trump sees the tariffs as an economic tool of power that will put US exporters in a stronger position, by keeping out imports and encouraging domestic manufacturing. While the situation remains dynamic, different levies will be imposed on countries, ranging from 15 percent on Japan and the European Union to 39 percent on Switzerland. Here's how countries and markets have reacted to the news: China China has warned that US protectionism 'harms the interests of all parties'. 'The Chinese side's opposition to tariffs has been consistent and clear,' Foreign Ministry spokesman Guo Jiakun said. 'There is no winner in a tariff war or trade war,' he added. 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'It helps maintain Thailand's competitiveness on the global stage, boosts investor confidence and opens the door to economic growth, increased income and new opportunities,' Pichai Chunhavajira said. Cambodia The US on Friday slashed the tariff rate for Cambodia to 19 percent from earlier levies of 36 percent and 49 percent, a major boost for its crucial garments sector, its biggest economic driver and source of about a million manufacturing jobs. 'If the US maintained 49 percent or 36 percent, that industry would collapse, in my opinion,' Cambodia's Deputy Prime Minister and top trade negotiator Sun Chanthol told the Reuters news agency in an interview. European Union The EU's trade chief, Maros Sefcovic, said the bloc's exporters now benefit from a 'more competitive position' following a framework agreement between the EU and the US, although he added that 'the work continues. 'The new US tariffs reflect the first results of the EU-US deal, especially the 15 percent all-inclusive tariff cap,' Sefcovic wrote in a post on social media platform X. 'This reinforces stability for businesses as well as trust in the transatlantic economy,' he added. Switzerland Switzerland expressed 'great regret' that it was hit with 39 percent – up from the threatened 31 percent – despite its 'very constructive position'. The levy – more than double the EU's 15 percent – appeared to catch the rich Alpine nation off guard. Switzerland ranks sixth in terms of direct investment in the US, with pharma giants Roche and Novartis announcing major spending plans in recent months. Sri Lanka Sri Lanka expressed relief that it will face a 20 percent hit – a sharp reduction from the 44 percent originally floated – and expressed hope of a further cut. 'We are happy that our competitiveness in exports to the US has been retained,' Finance Ministry official Harshana Suriyapperuma told reporters. Bangladesh Bangladesh negotiated a 20 percent tariff on exports to the US, down from the 37 percent initially proposed by Trump. Muhammad Yunus, the head of the country's interim government, called it a 'decisive diplomatic victory'. Pakistan Pakistan secured a tariff rate of 19 percent with the US on Thursday. 'This deal marks the beginning of a new era of economic collaboration, especially in energy, mines and minerals, IT, cryptocurrency and other sectors,' the Pakistani Finance Ministry said in a statement. India Trump on Wednesday said Indian goods would face a 25 percent US tariff starting August 1, slightly below an earlier threatened level. The country would also face an unspecified 'penalty' over New Delhi's purchases of Russian weapons and energy, Trump said on social media. In a statement, the Indian government said on Wednesday it was studying the implications of these new tariffs and added New Delhi 'attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs'. South Africa South Africa will use the weeklong delay in the US's imposition of 30 percent tariffs to negotiate, to avoid the penalty and save jobs, President Cyril Ramaphosa said on Friday. 'Intensive negotiations are now under way,' Ramaphosa told journalists. 'Our task is to negotiate as strongly and as hard as we can with the United States,' he said. 'Our objective, really, is to save jobs.' Canada Trump said on Thursday that the US would raise tariffs on certain Canadian goods from 25 percent to 35 percent. He had warned of trade consequences for Canada after Prime Minister Mark Carney announced plans to recognise a Palestinian state at the United Nations General Assembly in September. 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Al Jazeera
a day ago
- Al Jazeera
What has been the impact of Trump's tariffs so far?
United States President Donald Trump's tariffs are set to come into effect on August 1. They mark a significant escalation in US trade policy, leading to higher prices for consumers and bigger financial hits for companies. Trump had initially postponed 'reciprocal tariffs', which he had announced on April 2, giving countries time to reach trade deals with the US. On Sunday, US Commerce Secretary Howard Lutnick said the August 1 tariffs were a 'hard deadline'. What are the August 1 tariffs? Several countries are facing a slew of tariffs on August 1. While the situation remains dynamic, different levies are going to hit countries ranging from 15 percent on Japan and the European Union to 50 percent on Brazil. Who has struck last-minute deals? Trump has struck a series of bilateral trade deals in the last few days. With the EU, the US secured $750bn in energy purchases and reduced tariffs on steel via a quota system. In exchange, it lowered auto tariffs from 30 percent to 15 percent, applying the same rate to pharmaceuticals and semiconductors. Japan committed $550bn in investments targeting US industries such as semiconductors, AI and energy, while increasing rice imports under a 100,000-tonne duty-free quota. It will also purchase US commodities like ethanol, aircraft and defence goods. Indonesia reportedly agreed to duty-free access for many US products and increased energy and agricultural imports, although Jakarta has only confirmed tariff cuts and key commodity purchases so far. The United Kingdom gained aerospace and auto export benefits, while granting the US duty-free beef quotas and a 1.4 billion litre ethanol quota. China saw its reciprocal tariffs slashed from 145 percent to the baseline 10 percent that was imposed on all countries. In addition, there's a 20 percent punitive tariff for fentanyl trafficking. A temporary pause for the final tariff rate has been extended until August 12 while the two hammer out a deal. China matched the cut and eased non-tariff measures, resuming rare earth exports and accepting Boeing deliveries. Deals with the Philippines, Cambodia and Vietnam also include tariff adjustments and market access, though not all terms have been confirmed by those governments. Which sectors are expected to be hit worst? According to a Reuters news agency tracker, which looks at how companies are responding to Trump's tariff threats, the first-quarter earnings season saw automakers, airlines and consumer goods importers take the worst hit by tariff threats. Levies on aluminium and electronics, such as semiconductors, led to increased costs. 'When you start to see tariffs at 20 or more, you reach a point where firms may stop importing altogether,' Joseph Foudy, an economics professor at the New York University Stern School of Business, told Al Jazeera. 'Firms simply postpone major decisions, delay hiring, and economic activity declines,' Foudy added. Economists widely agree that the impact of tariffs implemented so far has not been fully felt, as many businesses built up their stockpiles of inventories in advance to mitigate rising costs. In an analysis published last month, BBVA Research estimated that even the current level of US tariffs – including a baseline 10 percent duty on nearly all countries, and higher levies on cars and steel – could slow economic growth and reduce global gross domestic product (GDP) by 0.5 of a percentage point in the short term, and by more than 2 percentage points over the medium term. Have prices increased? According to HBS Pricing Lab reports, prices of US-made and imported goods saw modest seasonal declines through early March, with imports falling slightly more. The first 10 percent US tariff on Chinese goods (February 4) had little effect, but prices rose after broader tariffs were imposed on March 4, including a 25 percent tariff on Canadian and Mexican imports and another 10 percent tariff on China. Imported goods prices jumped by 1.2 points, while prices of domestic goods rose by half as much. After a 10 percent global tariff was announced on April 2, 'Liberation Day', and 145 percent on China on April 10, import prices rose more sharply. A brief price dip followed the May 12 tariff rollback on Chinese goods, but trends resumed by June. Overall, import prices rose about 3 percent since March – small compared to headline tariff rates. Have tariffs brought in money? Trump's tariffs have brought in revenue from higher duties paid by importers. Between January 2 to July 25, the US Treasury Department data shows that the US generated $124bn this year from tariffs. This is 131 percent more than the same time last year. In early July, Treasury Secretary Scott Bessent said this could grow to $300bn by the end of 2025 as collections accelerate from Trump's trade campaign.