Latest news with #USAdministration
Bloomberg
2 days ago
- Politics
- Bloomberg
Trump Estimates Five Jets Were Downed in India-Pakistan Conflict
US President Donald Trump said five jets may have been shot down during the recent India-Pakistan conflict, and reiterated that his administration used trade pressure to broker a ceasefire between the two sides, a claim New Delhi had repeatedly rejected. 'These are two serious nuclear countries and they were hitting each other,' Trump said in a dinner speech to US lawmakers on Friday. 'I think five jets were shot down, actually,' he said, without elaborating.
Arab News
10-07-2025
- Politics
- Arab News
Pakistani minister calls Israel ‘illegal state,' rules out recognition
ISLAMABAD: Pakistan's Minister for Religious Affairs, Sardar Muhammad Yousaf, on Thursday ruled out any possibility of recognizing Israel, calling it an 'illegal state' during a meeting with Palestinian envoy Dr. Zuhair Muhammad Hamdallah Zaid, as he reaffirmed his country's longstanding position on the issue. The comments come amid a debate on social media over whether Pakistan might be moving closer to joining the Abraham Accords, a US-brokered framework that has seen several Muslim-majority countries normalize relations with Israel since 2020. The speculation was stirred in the wake of the recent high-level engagements between Pakistani officials and members of US President Donald Trump's administration. 'There has never been, and will never be, any recognition of Israel,' Yousaf said during the meeting, according to a statement by the religious affairs ministry. 'Israel is an illegal state, and Pakistan has always condemned its oppression of the innocent Palestinian people.' Pakistan has continued its vocal criticism of Israeli policies in recent weeks, especially in light of Tel Aviv's military operations in Gaza and recent clash with Iran. 'We are deeply wounded by the bombings on defenseless civilians, especially children and women, in Gaza,' the Pakistani minister continued, adding that his country would 'continue to raise its voice to awaken the conscience of the international community.' Yousaf also called for the Palestinian issue to remain a top priority on the agenda of the Organization of Islamic Cooperation (OIC). Ambassador Zaid praised Islamabad's 'consistent and selfless' support and noted that many Palestinians serving in key positions had studied in Pakistan. He reiterated the Palestinian people's resolve to 'sacrifice their lives, wealth and families' for the liberation of their land from Israeli occupation. He informed that Dr. Mahmoud Al-Habbash, adviser to Palestinian President Mahmoud Abbas, was expected to visit Pakistan soon, accompanied by the imam of Al-Aqsa Mosque.
The National
09-07-2025
- Politics
- The National
Middle East officials alarmed by Trump administration claim that Israel's border agreements are 'illusions'
Middle East experts say changing national borders in the region would cause chaos as US President Donald Trump and close ally Israel push policies to reshape alliances in the region. The warnings came after a US official, quoted anonymously in The Hill, said that the region's borders are 'illusory'. The comments came during a briefing earlier in the week on the Trump administration's decision to lift sanctions on Syria and push for it to establish diplomatic ties with Israel. Praising the absence of regional borders during the Ottoman Empire, whose collapse in the early 20th century paved the way for the Middle East to be divided into nation-states, the official said: '[The] Ottoman Empire did not exist in nation-states, right? 'They had a centralised government but they allowed each of the regions to operate independently in an appellate system. So where we're going can be something new. The nation-states haven't worked very well.' The comments raise the prospect that the Trump administration, a close partner of Israeli Prime Minister Benjamin Netanyahu, could be open to territorial changes as the US President tries to build a grand regional strategy after 21 months of destruction and chaos during the Gaza War. Mr Trump has a history of championing controversial geopolitical moves and plans, which have been criticised as destabilising. Since coming into office for a second time, he has endorsed proposals that include redrawing the global map, including the US annexing Canada and Greenland. In the Middle East, Mr Trump has repeated support for a plan to empty Palestinians from the Gaza Strip and create a US-owned "Riviera". Hazem Ayyad, a veteran Jordanian political commentator, said the remarks appear to endorse the possible desire of several countries to change the colonial-era border of the Middle East to their advantage. Mr Ayyad mentioned Turkey, Israel and Syria. 'The ideas have not politically matured," he added. Yet floating the idea of new borders could be a way to pressure Lebanon, particularly Hezbollah, to deal with the American and Israeli disarmament demands and ideas for a possible peace. Mr Ayyad said such an approach would 'create more chaos' in the Middle East. 'If the Americans open this door [borders], it cannot be closed,' he said. 'It will have repercussions that will ultimately become dangerous to them.' The US official quoted in The Hill said borders were less important than building trust between enemies: 'It's not really the line, it's who's threatening each other and facing each other over that line, and that's what the issue is – it doesn't matter what the line is, if you don't trust each other on the other side of the line, that's going to continue forever.' Boundaries of peace Referring to Israel's 1979 peace treaty with Egypt, the official said: 'How do we just get to the cessation of hostilities without reinventing these points of view that never worked for 100 years? And that starts with a kind of Sinai type of agreement that existed between Israel and Egypt in the past and saying, like, why don't we stop fighting about what the line is?' Nimrod Novik, former senior adviser to the late Israeli prime minister Shimon Peres, criticised the proposals of the US official, saying Israel's decades-long peace with former enemies Egypt and Jordan underlines the importance of parties recognising each other's sovereignty and territorial integrity. 'However artificial and externally imposed regional boundaries set over 100 years ago, the anonymous senior official has no clue about what has transpired in our region over the past century and about what it takes to expand the boundaries of peace in our region,' said Mr Novik, who is now a fellow at the Israel Policy Forum. 'Absent recognition of sovereign territory, the region is doomed to continued hostility, belligerence and war." On the topic of US efforts to get Israel and Syria to establish diplomatic ties, Mr Novik said it was fanciful to expect the Arab state's new leadership to sign a peace treaty 'while Israel makes permanent its occupation of Syrian territory is a dangerous illusion'. Last year Israel breached a 1974 disengagement agreement with Syria, which created a UN-patrolled buffer zone separating the two countries' armies, after the rebel forces toppled Syrian president Bashar Al Assad in December. Mr Trump has since moved closer towards an alliance with the country's new rulers, who used to belong to Hayat Tahrir Al Sham, which was once designated a US terrorist organisation. 'Revitalising and updating security arrangements that prevent friction and misunderstandings, like those forged by Henry Kissinger in 1974, is one thing. But under these conditions, an Israeli-Syrian peace treaty is not in the cards,' Mr Novik said.
Yahoo
08-07-2025
- Business
- Yahoo
Pound pushes higher as Trump hints at tariff climbdown
The pound was higher against the dollar on Tuesday morning, up 0.3% to $1.3638, after US president Donald Trump suggested he could make further concessions on trade tariffs. Sterling's gains came as markets responded to signs of a more conciliatory stance from the White House on its trade agenda. The US administration has issued formal letters to 14 countries outlining revised tariff rates, due to take effect on 1 August. The move extends a 90-day delay on so-called 'reciprocal' tariffs that had been scheduled to expire on Wednesday. However, during a dinner with visiting Israeli prime minister Benjamin Netanyahu, Trump hinted that the August deadline might not be set in stone. 'I would say firm, but not 100% firm,' he said. Read more: 'I returned to my old office to sell ties after being made redundant' Asked if the tariff rates were final, he added: 'I would say final – but if they call with a different offer, and I like it, then we'll do it.' The US Dollar Index ( which tracks the greenback against a basket of six major currencies, slipped 0.1% to 97.26 after the comments. In other currency moves, the pound was muted against the euro, trading at €1.1602 at the time of writing. Gold prices inched up during early European trading hours as the uncertainty around tariff developments maintains the precious metal's safe-haven appeal. Gold futures were steady at $3,343.60 an ounce, while spot gold climbed 0.7% to $3.334.57 per ounce. "Trump's latest tariff letters are keeping gold in the frame for investors as an uncertainty hedge, but a resilient US dollar and higher bond yields are constraining the metal's immediate upside potential," KCM Trade chief market analyst Tim Waterer said. Gold, which offers no yield, tends to struggle in environments of rising bond yields. A stronger US dollar also weighs on the metal by making it more expensive for buyers using other currencies. "Traders seem relatively unfazed by Trump's tariff letters, and with safe-haven demand largely contained at this point, gold is still just biding its time waiting for a topside breakout to potentially occur," Waterer said. Oil prices retreated on Tuesday after rising almost 2% in the previous session, as markets digested fresh US trade developments and a larger-than-expected supply increase from Opec+ for August. Brent crude lost 0.3% to $69.39 a barrel, while West Texas Intermediate dropped by the same margin to trade at $67.71. "Prompt demand remains healthy on the back of seasonal factors. The question remains if forward demand will maintain to absorb the larger-than-expected supply from Opec+," said Emril Jamil, a senior analyst at LSEG Oil Research. Over the weekend, the Organisation of the Petroleum Exporting Countries and its allies, known collectively as Opec+, agreed to raise production by 548,000 barrels per day in August. The increase surpasses the 411,000 bpd hikes implemented over the past three months and effectively rolls back nearly all of the 2.2 million bpd in voluntary cuts previously enacted. Additional signs of robust demand came out of India, the world's third-largest oil consumer, where government data showed fuel consumption in June rose 1.9% year on year. Stocks: Create your watchlist and portfolio In equities, the FTSE 100 (^FTSE) was flat, trading at 8,810 points. For more details follow our live coverage here.
Reuters
08-07-2025
- Business
- Reuters
Relief for rupee after India left out of US tariff hike; Asia shrugs off Trump move
MUMBAI, July 8(Reuters) - The Indian rupee is likely to open marginally higher on Tuesday, helped by the calm in Asian markets despite U.S. President Donald Trump imposing higher tariffs on South Korea and Japan among others. Trump's comments about nearing a trade agreement with India are supportive of the rupee, according to traders. The 1-month non-deliverable forward indicated a open in the 85.70-85.75 range, versus 85.8500 in the previous session. Trump on Monday sent letters to 14 countries, including Japan and South Korea, outlining higher import tariffs. However, the implementation was pushed to August 1, providing countries a few more weeks to reach trade deals. The original deadline for reaching the deal was July 9. The U.S. president said the August deadline was "firm, but not 100% firm" suggesting there was room for agreements. Shares in Japan and South Korea rose, suggesting investors were more focused on the tariff delay than the prospect of higher duties. "Though Trump's letters suggest a take-it-or-leave-it offer, the reality is that they have effectively extended the tariff deadline from July 9 to August 1," ING Bank said in a note. "Despite repeatedly insisting that no extension would be granted, the U.S. administration has provided countries another three weeks to finalise more (principle) trade deals." On India, Trump said he was near to making a deal with the country. "That the U.S. might strike a deal with India, while largely priced in, is still a marginal positive for the rupee," a currency trader at a private bank said. "More importantly, Asian markets are not reacting much to the latest salvo from Trump, which is helping overall sentiment." KEY INDICATORS: ** One-month non-deliverable rupee forward at 85.81; onshore one-month forward premium at 10.5 paisa ** Dollar index down at 97.31 ** Brent crude futures down 0.6% at $69.2 per barrel ** Ten-year U.S. note yield at 4.38% ** As per NSDL data, foreign investors bought a net $81 million worth of Indian shares on July 4 ** NSDL data shows foreign investors bought a net $19.6 million worth of Indian bonds on July 4
