Trump Threatens 10% Tariff on BRICS-Aligned Nations
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
7 minutes ago
- Bloomberg
Single Best Idea: Bostjancic & Calvasina
Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with Kathy Bostjancic & Lori Calvasina. Watch Tom and Paul LIVE every day on YouTube:
News24
11 minutes ago
- News24
Why is Trump meeting five African presidents this week?
US President Donald Trump has invited the leaders of Gabon, Guinea-Bissau, Liberia, Mauritania and Senegal to Washington this week. Experts suggest that there will be more on the agenda than just commercial opportunities. 'A White House official explained last week that 'President Trump believes African countries offer incredible commercial opportunities that benefit both the American people and our African partners,'' says DW's Washington correspondent, Ines Pohl. 'In a recent update, Trump highlighted the vast commercial potential of African nations, suggesting stronger economic ties could be mutually beneficial. 'However, his administration has cut back on US foreign aid to Africa, viewing it as wasteful and incompatible with his 'America First' agenda. Instead, the focus is shifting toward trade and investment, particularly in West Africa's critical minerals sector and regional security.' Why these five countries? Trump's approach to Africa appears to have evolved since his first term. During a White House meeting on 10 January 2018, he famously referred to Haiti and several African countries as 'shithole countries'. 'We recall those harsh words, but things have changed,' says Professor Suleymane Bachir Diagne of Senegal who teaches and researches at Columbia University in New York City. 'Africa is now on the radar of the Trump administration. The continent is recognised as a place to make deals.' But if Trump's agenda truly centres on deals and 'America First', why invite the presidents of these five relatively small economies? 'It's surprising,' Diagne says. 'One might expect the usual suspects - large economies like South Africa or Nigeria. Instead, we have these five countries, which few anticipated.' What role do natural resources play? In terms of trade volume with the US, the five countries are relatively minor players. However, all possess significant untapped natural resources: Gabon is rich in oil, manganese, uranium, iron ore, gold, and rare earth elements. Guinea-Bissau holds deposits of phosphates, bauxite, oil, gas, and gold. Liberia has notable manganese and gold reserves, and diamonds have been found near its border with Sierra Leone. Mauritania is endowed with iron ore, gold, copper, oil, gas, and rare earths. Senegal boasts gold, phosphates, iron ore, and rare earth minerals, alongside oil and gas fields. What about migration and drugs? 'Controlling migration and drug routes - that's what Donald Trump is truly interested in,' says Zakaria Ould Amar, an international consultant from Mauritania. 'These five countries lie directly on refugee and migrant paths that have, over the years, sent tens of thousands of people to the US-Mexico border. International drug routes also run through this region.' Amar suggests that these security issues will dominate Trump's talks with the five African leaders. 'Economically, these countries are currently of little significance. I can't see what Trump could realistically negotiate with them in terms of trade or business.' Azerbaijani Presidency/Handout/Anadolu via Getty Images American affairs expert Professor William Ferreira from Guinea-Bissau is sceptical: 'I doubt this meeting will bring tangible benefits to the African countries involved. There's no such thing as a free lunch.' 'Our president's trip to Washington to meet Trump is not good news for Guinea-Bissau or its people,' he says. Ferreira notes that the Trump administration has halted or drastically cut funding for aid projects in Africa and also in Guinea-Bissau, dimming any hopes tied to the meeting in Washington. Five countries with rule of law challenges For Guinea-Bissau's President Umaro Sissoco Embaló, however, the gathering presents an opportunity to showcase himself as a respected statesman on the international stage, despite significant internal challenges. His term officially expired in February, yet he remains in office amid questions of legality. The fate of scheduled elections in December remains uncertain. 'All five regimes, not just Guinea-Bissau, are grappling with major institutional problems and breaches of the rule of law,' Ferreira says. 'But that doesn't bother Trump. He wants to demonstrate he still has allies in Africa. For the five presidents, this event is a chance to present themselves as important and legitimate leaders internationally. And in fact, from their perspective, it greatly elevates their standing.' Desirey Minkoh/Afrikimages Agency/Universal Images Group via Getty Images Gabon's current president, Brice Oligui Nguema, has faced serious corruption allegations and is linked to the recent coup that ousted Ali Bongo Ondimba. Liberia faces severe social challenges. Joseph Boakai has been president since January 2024. Mauritania's President Mohamed Ould Ghazouani, a general and politician, has been in office since August 2019 but the country faces serious social problems. Senegal, led by President Bassirou Diomaye Faye since 2024, confronts accusations of facilitating illegal international migration. Guinea-Bissau remains embroiled in institutional crises, with civil society groups accusing Umaro Sissoco Embaló of dismantling democratic structures and aiming to establish a dictatorship. His legitimacy is seen as derived not from the people but through international endorsements like the Washington meeting. Diplomatic success or political show? Lesmes Monteiro, presidential advisor in Guinea-Bissau, offers a contrasting view. 'Sissoco Embaló's inclusion among Trump's chosen five is a diplomatic triumph,' he told DW. 'He is a determined leader, respected and received by the world's most powerful statesmen: Vladimir Putin, Xi Jinping, Emmanuel Macron, and now Donald Trump.' Monteiro highlights ideological alignment as a key factor in the selection. 'Trump and our president share similar values: A strong emphasis on national sovereignty and traditional values. Guinea-Bissau's geostrategic position is very important to the US, and economically, the country could become interesting to the US in the medium term.'
Wall Street Journal
14 minutes ago
- Wall Street Journal
Houthis Attack Ship in Red Sea for First Time Since Trump Announced a Truce
TEL AVIV—A crew in the Red Sea was forced to abandon ship after it was hit by Yemen's Houthi rebels on Sunday, the first attack of its kind since President Trump announced a truce in May after he said the group promised to stop attacking Middle Eastern waterways. The Liberian-flagged, Greek-owned bulk carrier Magic Seas had taken on water after being hit by gunfire with small arms and self-propelled grenades near the Houthi-controlled port city of Hodeidah in the Red Sea, according to the United Kingdom Maritime Trade Operations, a British Navy task force that monitors shipping in the Middle East.
