Iraq treads a tightrope to avoid spillover from Israel-Iran conflict
But with Baghdad both an ally of Iran and a strategic partner of the United States, Israel's closest supporter, it may struggle to avoid the fighting spreading to its territory.
"There is a sizable risk of a spillover escalation in Iraq," said political analyst Sajad Jiyad.
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Japan Times
an hour ago
- Japan Times
Lutnick: Japan's $550 billion will be directed by Trump
U.S. Commerce Secretary Howard Lutnick made it clear that the $550 billion promised by Japan in the course of tariff negotiations will be real funding from Japan deployed and directed by U.S. President Donald Trump to serve American interests. 'What's going to happen is the investments in America are for the benefit of the economic and national security of the United States of America, driven by Donald Trump,' Lutnick told CNBC on Tuesday. His comments closely track and further support earlier comments by Trump, Treasury Secretary Scott Bessent and Lutnick himself. Together, they have described a pledge that involves new capital from Japan being invested in the United States with America in control and taking 90% of the profits. "It is their money," he added, "their money that's going to create these investments so that we can build the pipelines, we can build the nuclear, we can build semiconductors, we can build pharmaceuticals in America to protect America." Japanese officials view the handshake agreement reached on July 22 differently. They have said that Japan will provide loans, loan guarantees and equity investment up to the $550 billion total through financial institutions backed by the government, and that direct equity investment will be just 1%-2% of the $550 billion. They have also brought into question the governance described by the three U.S. officials. 'We can't cooperate on things that don't benefit Japanese companies or the Japanese economy," Ryosei Akazawa, Japan's chief tariff negotiator, said earlier this month. CNBC host David Faber pressed Lutnick — noting that Japan has said the money will mainly be in the form of loan guarantees to Japanese companies already operating in the United States — and suggested the possibility that there is no meeting of the minds between the United States and Japan on the issue. "No, no, no," Lutnick responded. "We're on the same page." U.S. officials have repeatedly said that the money is essentially a payment in exchange for lowering tariff rates — or raising them less than threatened — and that any failure in honoring the commitment could result in tariffs being increased. If the president is 'unhappy' with the progress, tariffs will 'boomerang' higher, Bessent has said. In the CNBC interview, Lutnick noted the connection between the money and tariff rates. 'Japan has offered to buy down their tax from 25% to 15%. They offered us $550 billion investment fund,' he said. Japan and the United States reached an agreement on July 22 to set the 'reciprocal' tariff at 15% and the auto tariff at the same rate. Lutnick said that the two countries are working to get the terms of the deal down on paper, and that progress is quickly being made. The lack of an agreement document has been a major issue in Japan, especially among politicians in Tokyo. "Every night and every morning, we are finishing the documents,' Lutnick said. 'These are weeks away for the Japan and Korea model, but the other models are set.' On Tuesday, SoftBank Group said it will purchase $2 billion worth of Intel shares, though the company declined to confirm whether the announced investment is part of the $550 billion pledge. U.S. tariffs are already starting the bite. Japanese exports to the United States in July fell 10.1% year on year, declining for the fourth consecutive month. Auto exports to the United States dropped 28.4% year on year in value terms and 3.2% in volume.
Japan Times
5 hours ago
- Japan Times
Trump targets the Smithsonian again, says it focuses too much on how bad slavery was
U.S. President Donald Trump suggested on Tuesday he will pressure the Smithsonian Institution — a premier museum, education and research complex for U.S. history and culture — to accept his demands, just like he did with colleges and universities by threatening to cut federal funding. In a social media post, Trump complained about what he called excessive focus on "how bad Slavery was." "I have instructed my attorneys to go through the Museums, and start the exact same process that has been done with Colleges and Universities where tremendous progress has been made," Trump said on Truth Social.
Japan Times
7 hours ago
- Japan Times
Syrian and Israeli diplomats met in Paris to discuss 'de-escalation,' report says
Syria's foreign minister met with an Israeli diplomatic delegation in Paris on Tuesday to discuss "de-escalation and non-interference in Syria's internal affairs," state news agency SANA reported. The latest in a series of U.S.-mediated talks resulted in "understandings that support stability in the region," the agency said. The U.S. government has been at work in recent weeks to try to resolve security issues in Syria and Lebanon, which its ally Israel says have prompted it to take military action. Despite a truce reached last November, Israel has continued to hit targets of the Iranian-backed Hezbollah group in Lebanon, and it has occupied territory and hit targets across Syria since last year's fall of dictator Bashar Assad. Tuesday's meeting in Paris follows one between Syrian Foreign Minister Assad al-Shaibani and Israeli Minister of Strategic Affairs Ron Dermer in Baku, Azerbaijan, in late July, and another meeting in Paris before that. Israel and Syria have technically been at war since 1948, and the talks also discussed reviving a disengagement accord from 1974 that created a buffer zone between the two countries. "These talks are taking place under U.S. mediation, as part of diplomatic efforts aimed at enhancing security and stability in Syria and preserving the unity and integrity of its territory," the agency said. The recent meetings between the two countries come after deadly sectarian clashes in July in southern Syria's Druze-majority Sweida province which left over 1,400 people dead. The clashes initially pitted local Druze fighters against Sunni Bedouin tribes but soon saw the involvement of Syrian government forces and Israel, with the latter saying it wanted to protect the Druze. Last month, Israel struck the Syrian presidential palace and the army headquarters in Damascus. The United States, an ally of Israel but who has expressed support for Syria's new leaders, announced a ceasefire between the two sides overnight on July 18.
