How tariffs on China could increase smartphone, tablet prices
China is a dominant production engine for tech gear — including for American companies like Apple that have their products assembled in the country — accounting for 78 per cent of U.S. smartphone imports in 2023, according to the Consumer Technology Association trade group. Technology analyst Carmi Levy outlines the expansive impact of U.S. tariffs on China in the tech world.
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Global News
an hour ago
- Global News
U.S. reducing diplomatic, military presence in Middle East as tensions rise
The United States is drawing down the presence of staffers who are not deemed essential to operations in the Middle East and their loved ones due to the potential for regional unrest, the State Department and military said Wednesday. The State Department said it has ordered the departure of all nonessential personnel from the U.S. Embassy in Baghdad based on its latest review and a commitment 'to keeping Americans safe, both at home and abroad.' The embassy already had been on limited staffing, and the order will not affect a large number of personnel. The department, however, also is authorizing the departure of nonessential personnel and family members from Bahrain and Kuwait. That gives them the option of leaving those countries at government expense and with government assistance. Defense Secretary Pete Hegseth 'has authorized the voluntary departure of military dependents from locations' across the region, U.S. Central Command said in a statement. The command 'is monitoring the developing tension in the Middle East.' Story continues below advertisement White House spokeswoman Anna Kelly confirmed the moves. 'The State Department regularly reviews American personnel abroad, and this decision was made as a result of a recent review,' Kelly said. Global News has asked Global Affairs Canada if it is conducting a similar drawdown of Canadian diplomatic staff in the region. The top U.S. military officer for the Middle East, Gen. Erik Kurilla, was scheduled to testify before the Senate Armed Services Committee on Thursday, but that testimony has now been postponed, according to the committee's website. The Pentagon did not have an immediate comment on why Kurilla's testimony was postponed. Tensions in the region have been rising in recent days as talks between the U.S. and Iran over its rapidly advancing nuclear program appear to have hit an impasse. The talks seek to limit Iran's nuclear program in exchange for the lifting of some of the crushing economic sanctions that the U.S. has imposed on the Islamic Republic. Iran insists its nuclear program is peaceful. 0:42 Trump's travel ban on 12 countries takes effect The next round of talks — the sixth — had been tentatively scheduled for this weekend in Oman, according to two U.S. officials, who spoke on condition of anonymity to discuss diplomatic matters. However, those officials said Wednesday that it looked increasingly unlikely that the talks would happen. Story continues below advertisement President Donald Trump, who has previously said Israel or the U.S. could carry out airstrikes targeting Iranian nuclear facilities if negotiations failed, gave a less-than-optimistic view about reaching a deal with Iran, telling the New York Post's 'Pod Force One' podcast that he was 'getting more and more less confident about' a deal. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'They seem to be delaying, and I think that's a shame. I'm less confident now than I would have been a couple of months ago. Something happened to them,' he said in the interview recorded Monday and released Wednesday. Iran's mission to the U.N. posted on social media that 'threats of overwhelming force won't change the facts.' 'Iran is not seeking a nuclear weapon, and U.S. militarism only fuels instability,' the Iranian mission wrote. Iranian Defense Minister Gen. Aziz Nasirzadeh separately told journalists Wednesday that he hoped talks with the U.S. would yield results, though Tehran stood ready to respond. 'If conflict is imposed on us, the opponent's casualties will certainly be more than ours, and in that case, America must leave the region, because all its bases are within our reach,' he said. 'We have access to them, and we will target all of them in the host countries without hesitation.' 3:20 Iran warns no nuclear deal if US insists on ending uranium enrichment Meanwhile, the Board of Governors at the International Atomic Energy Agency was potentially set to vote on a measure to censure Iran. That could set in motion an effort to snap back United Nations sanctions on Iran via a measure in Tehran's 2015 nuclear deal with world powers that's still active until October. Trump withdrew from that agreement in his first term. Story continues below advertisement Earlier Wednesday, a statement from the United Kingdom Maritime Trade Operations center, a Mideast-based effort overseen by the British navy, issued a warning to ships in the region that it 'has been made aware of increased tensions within the region which could lead to an escalation of military activity having a direct impact on mariners.' It urged caution in the Persian Gulf, the Gulf of Oman and the Strait of Hormuz. It did not name Iran, though those waterways have seen Iranian ship seizures and attacks in the past. Meanwhile, Iraq's state-run Iraqi News Agency said in a statement attributed to an unnamed government official that the evacuation of some nonessential employees from the U.S. Embassy in Baghdad was part of 'procedures related to the U.S. diplomatic presence in a number of Middle Eastern countries, not just Iraq' and that Iraqi officials 'have not recorded any security indicators that warrant an evacuation.' 'We reiterate that all security indicators and briefings support the escalating assessments of stability and the restoration of internal security,' the statement said. Gambrell reported from Dubai, United Arab Emirates. AP writers Farnoush Amiri at the United Nations, Aamer Madhani in Washington and Qassim Abdul-Zahra in Baghdad contributed to this report.
The Market Online
an hour ago
- The Market Online
@ the Bell: Markets firm as trade talks continue
Equities trading in Canada's largest centre continued the winning theme of the week on Wednesday thanks to growth among consumer discretionary shares while investors watch the latest developments from US-China trade talks. Late Tuesday, US and Chinese officials concluded two days of trade talks in London by committing to revive a deal reached last month in Geneva and to lift China's export restrictions on rare earth elements — a key obstacle in the previous agreement. American traders were pleased with lighter inflation data from the consumer price index and the core CPI, which both rose 0.1 per cent in May from April, less than expected. The Canadian dollar traded for 73.14 cents US compared to 73.04 cents US on Tuesday. US crude futures traded US$2.91 higher at US$67.89 a barrel, and the Brent contract rose US$2.66 to US$69.53 a barrel. The price of gold was down US$25.35 to US$3,348.16. In world markets, the Nikkei was up 209.68 points to ¥38,421.19, the Hang Seng was up 204.07 points to HK$24,366.94 the FTSE was up 11.27 points to ₤8,864.35, but the DAX was down 38.66 points to €23,948.90. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
Brazil's Supreme Court justices agree to make social media companies liable for user content
BRASILIA, Brazil (AP) — The majority of justices on Brazil's Supreme Court have agreed to make social media companies liable for illegal postings by their users. Gilmar Mendes on Wednesday became the sixth of the court's 11 justices to vote to open a path for companies like Meta, X and Microsoft to be sued and pay fines for content published by their users. Voting is ongoing but a simple majority is all that is needed for the measure to pass. The ruling will come after U.S. Secretary of State Marco Rubio warned of possible visa restrictions against foreign officials allegedly involved in censoring American citizens. The only dissenting Brazilian justice so far is André Mendonça and his vote was made public last week. The social media proposal would become law once voting is finished and the result is published. But Brazil's Congress could still pass another law to reverse the measure. The current legislation states social media companies can only be held responsible in those cases if they do not remove hazardous content after a court order.
