Politics
Stock markets fall around the world as Trump’s global tariffs hit – National TenX News
World shares slumped on Wednesday after U.S. President Donald Trump’s latest tariff hikes took effect, and he threatened to add still more.
Uncertainty is running high about what Trump will do next in his trade war. In a speech Tuesday night he said plans tariffs on pharmaceuticals so that more medications would be made in the U.S.
European markets extended their losses. Germany’s DAX slipped 2.5 per cent to 19,762.13. In Paris, the CAC 40 declined 2.6 per cent to 6,917.13. Britain’s FTSE 100 gave up 2.6 per cent to 7,704.82.
Although Trump’s latest tariffs include a massive 104 per cent levy on U.S. imports of Chinese products, markets in China reversed early losses, gaining ground on Wednesday.
Massive share buybacks by big state-run investment funds and other state companies that often are instructed to support the market in times of crisis helped boost stock prices. Investors also are expecting the government to step up spending and other measures to help counter the impact of the tariffs, which will hit hardest the small manufacturers and traders that create the most jobs.
Beijing issued a policy paper Wednesday reiterating China’s right to protect its businesses with unspecified countermeasures, while it emphasized it preferred to resolve trade issues through dialogue.
The paper also argued that taking into account trade in services and U.S. companies’ operations in China, economic exchange between the two countries is “roughly in balance.”
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Hong Kong’s Hang Seng rose 0.7 per cent, while the Shanghai Composite index closed 1.3 per cent higher.
Thailand’s benchmark also rose, apparently due to speculation that Beijing might be preparing to hold talks with the Trump administration. The unconfirmed rumors helped push the future for the S&P 500 up 0.3 per cent, while that for the Dow was unchanged.
Elsewhere, markets remained gloomy. Japan’s Nikkei 225 closed 3.9 per cent lower, at 31,714.03 and Prime Minister Shigeru Ishiba convened a meeting of top financial ministers to reiterate his call for them to do what they can to mitigate the damage from tariffs to Japanese automakers and other manufacturers.
Taiwan led the losses in Asia, as its Taiex plunged 5.8 per cent. Big tech industries were among the biggest decliners. Computer chip giant TSMC Corp. dropped 3.8 per cent while iPhone maker Hon Hai Precision Industry plunged 10 per cent.
In India, the Sensex declined 0.5 per cent as the central bank cut its benchmark interest rate, while Bangkok’s SET shed 0.8 per cent.
South Korea’s Kospi lost 1.7 per cent to 2,293.70, and the government said it would provide help for its beleaguered automakers. The S&P/ASX 200 in Australia declined 1.8 per cent to 7,375.00. Shares in New Zealand also fell.
On Tuesday, the S&P 500 dropped 1.6 per cent after wiping out an early gain of 4.1 per cent. That took it nearly 19 per cent below its record set in February. The Dow Jones Industrial Average dropped 0.8 per cent, while the Nasdaq composite lost 2.1 per cent.
Stocks had rallied globally on Tuesday, with indexes up 6 per cent in Tokyo, 2.5 per cent in Paris and 1.6 per cent in Shanghai. Any optimism or buying enthusiasm appeared to have dissipated by the time the sharply higher tariffs became reality.
Analysts say the markets will have more swings up and down given uncertainty over how long Trump will keep the stiff tariffs on imports, which will raise prices for U.S. shoppers and slow the economy. If they persist, economists and investors expect them to cause a recession. If Trump lowers them through negotiations relatively quickly, the worst-case scenario might be avoided.
Hope still remains on Wall Street that negotiations may be possible, which helped drive the morning’s rally. Trump said Tuesday that a conversation with South Korea’s acting president helped them reach the “confines and probability of a great DEAL for both countries.”
Trump’s trade war is an attack on the globalization that’s shaped the world’s economy and helped bring down prices for products on store shelves but also caused manufacturing jobs to leave for other countries. Trump has said he wants to narrow trade deficits, which measure how much more the United States imports from other countries than it sends to them as exports.
In other dealings early Wednesday, U.S. benchmark crude oil fell US$2.43 to US$57.15 per barrel. Brent crude, the international standard, shed US$2.47 to US$60.35 per barrel.
The U.S. dollar fell to 145.22 Japanese yen from 146.29 yen. The euro rose to US$1.1036 from US$1.0995.
The price of gold rose US$72 to US$3,062 an ounce.
© 2025 The Canadian Press
Politics
UK refuses to invite Israeli government officials to London arms fair over the war in Gaza – National TenX News
The U.K. has barred Israeli government officials from attending the country’s biggest arms fair over growing concern about the humanitarian crisis in Gaza.
The decision does not cover representatives of Israeli defense contractors, who will be allowed to attend the DSEI UK exhibition, scheduled for Sept. 9-12 in London. The event was formerly known as Defense and Security Equipment International.
“The Israeli Government’s decision to further escalate its military operation in Gaza is wrong,” the British government said in a statement. “As a result, we can confirm that no Israeli government delegation will be invited to attend DSEI UK 2025.”
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The decision comes after Prime Minister Keir Starmer in July announced plans to recognize a Palestinian state unless Israel takes steps to end the crisis in Gaza, agrees to a ceasefire with Hamas and commits to a long-term peace agreement. Britain previously barred sales to Israel of any arms that could be used in the nearly 23-month war in Gaza.
Israel’s Defense Ministry said the decision was based on politics and “serves extremists.”
“These restrictions amount to a deliberate and regrettable act of discrimination against Israel’s representatives,” the ministry said.
The Israeli ministry said it would withdraw from the exhibition and will not establish a national pavilion.
Pro-Palestinian and anti-war groups have announced plans to for protests during DSEI, which will take place at the Excel center in east London.
© 2025 The Canadian Press
Politics
Israel soon will halt or slow aid to northern Gaza as military offensive grows – National TenX News
Israel will soon halt or slow humanitarian aid into parts of northern Gaza as it expands its military offensive against Hamas, an official said Saturday, a day after Gaza City was declared a combat zone.
The decision was likely to bring more condemnation of Israel’s government as frustration grows in the country and abroad over dire conditions for both Palestinians and remaining hostages in Gaza after nearly 23 months of war.
The official, who spoke on condition of anonymity because they were not authorized to speak to the media, told The Associated Press that Israel will stop airdrops over Gaza City in the coming days and reduce the number of aid trucks arriving in the north as it prepares to evacuate hundreds of thousands of people south.
Israel on Friday ended recently imposed daytime pauses in fighting to allow aid delivery, describing Gaza City as a Hamas stronghold and alleging that a tunnel network remains in use, despite previous large-scale raids. The United Nations and partners have said the pauses, airdrops and other measures fell far short of the 600 trucks of aid needed daily in Gaza.
A ‘massive population movement’ coming
AP video footage showed several large explosions across Gaza overnight. Israel’s military Saturday evening said it had struck a key Hamas member in the area of Gaza City, with no details.
In recent days, Israel’s military has increased strikes on the outskirts of Gaza City, where famine was recently documented and declared by global food security experts.
By Saturday there had been no airdrops for several days across Gaza, a break from almost daily ones. Israel’s army didn’t respond to a request for comment or say how it would provide aid to Palestinians during another major shift in Gaza’s population of over 2 million people.
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“Such an evacuation would trigger a massive population movement that no area in the Gaza Strip can absorb, given the widespread destruction of civilian infrastructure and the extreme shortages of food, water, shelter and medical care,” Mirjana Spoljaric, president of the International Committee of the Red Cross, said in a statement.
It’s impossible that a mass evacuation of Gaza City can be done in a safe and dignified way, she said.
Hundreds of residents have begun leaving Gaza City, piling their remaining possessions onto pickup trucks or donkey carts. Many have been forced to leave their homes more than once.
Killed while seeking food
Israeli gunfire killed four people trying to get aid in central Gaza, according to health officials at Al-Awda Hospital, were the bodies were taken.
An Israeli strike on a bakery in Gaza City’s Nasr neighborhood killed 12 people including six women and three children, the Shifa Hospital director told the AP, and a strike on the Rimal neighborhood killed seven.
Gaza’s Health Ministry said another 10 people died as a result of starvation and malnutrition over the past 24 hours, including three children. It said at least 332 Palestinians have died from malnutrition-related causes during the war, including 124 children.
At least 63,371 Palestinians have died in Gaza during the war, said the ministry, which does not say how many are fighters or civilians but says around half have been women and children. The ministry is part of the Hamas-run government and staffed by medical professionals. The U.N. and independent experts consider it the most reliable source on war casualties. Israel disputes its figures but has not provided its own.
“There is no food and even water is not available. When it is available, it is not safe to drink,” said Amer Zayed, as he waited for food from a charity kitchen in Deir al-Balah on Friday.
“The suffering gets worse when there are more displaced people,” he added.
Israelis rally again to demand a ceasefire deal
Israelis waited to hear the identity of the remains of a hostage that Israel on Friday said had been recovered in Gaza. It also said it recovered the remains of hostage Ilan Weiss.
Forty-eight hostages now remain in Gaza of the over 250 seized in the Hamas-led attack on Oct. 7, 2023, that sparked the war. Israel had believed 20 are still alive.
Their loved ones fear the expanding military offensive will put them in even more danger, and they were rallying again Saturday to demand a ceasefire deal to bring everyone home.
“Netanyahu, if another living hostage comes back in a bag, it will not only be the hostages and their families who pay the price. You will bear responsibility for premeditated murder,” Zahiro Shahar Mor, nephew of hostage Avraham Munder, said in Tel Aviv.
© 2025 The Canadian Press
The Trump administration said Friday it was denying and revoking U.S. visas from members of the Palestinian Authority and the Palestine Liberation Organization.
That comes ahead of next month’s United Nations General Assembly, where Canada and several other countries have said they intend to officially recognize a Palestinian state.
The U.S. State Department cited the groups’ efforts to secure statehood recognition at the UN, along with their appeals to the International Criminal Court and International Court of Justice to investigate alleged Israeli crimes in Gaza, as reasons for the decision by U.S. Secretary of State Marco Rubio.
“Both steps materially contributed to Hamas’s refusal to release its hostages, and to the breakdown of the Gaza ceasefire talks,” the department said in a statement.
“The Trump Administration has been clear: it is in our national security interests to hold the PLO and PA accountable for not complying with their commitments, and for undermining the prospects for peace.”
The statement did not name the officials being denied entry. It was not immediately clear if the list included Palestinian Authority President Mahmoud Abbas, who was expected to travel to New York for the UN gathering.
The Palestinians’ ambassador to the UN, Riyad Mansour, told reporters at the UN headquarters that they were checking exactly what the U.S. move means “and how it applies to any of our delegation, and we will respond accordingly.”
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Representatives assigned to the Palestinian Authority mission at the UN, led by Mansour, will be granted waivers so they can continue their New York-based operations, the U.S. statement said.
Mansour said Abbas still intends to lead the delegation to the high-level meetings and is expected to address the General Assembly — as he has done for many years — and to attend a meeting on the afternoon of Sept. 22 on a two-state solution co-chaired by France and Saudi Arabia.
U.S. President Donald Trump will travel to New York and address the general assembly on Sept. 23, the White House said on Thursday.
Canada, Britain, Australia and France in recent weeks have announced or signalled their intention to recognize a Palestinian state during the meeting.
The countries have said their recognition is conditional on the Palestinian Authority — which has limited self-rule over parts of the occupied West Bank and has for years been positioning itself as a legitimate government alternative to Hamas in Gaza — undergoing reforms and new elections.
Abbas has signalled he will co-operate with the Western nations’ demands.
The Palestinian Liberation Organization is an internationally recognized coalition that represents Palestinian people in its occupied territories and abroad.
The Trump administration has staunchly backed Israel’s military offensive in Gaza. The U.S. has also refused to condemn expanded Israeli settlements in the West Bank, which Canada and other allies have said undermine two-state solution efforts.
Rubio hosted Israeli Foreign Minister Gideon Saar in Washington on Wednesday “to reaffirm our two nations’ close cooperation,” the U.S. secretary said in a post on X.
Saar, asked after the meeting what the plan was for a Palestinian state, said there would not be any.
The Israeli minister on Friday thanked Rubio for holding the PA and PLO “accountable for rewarding terrorism, incitement and efforts to use legal warfare against Israel” in a social media statement.
Officials with the Palestinian Authority reject that they’ve undermined peace prospects.
Under the 1947 UN “headquarters agreement,” the U.S. is generally required to allow access for foreign diplomats to the UN in New York. But Washington has said it can deny visas for security, terrorism and foreign policy reasons.
Hamas earlier this month said it had accepted a U.S.-backed proposal on a ceasefire in Gaza that would see the release of some hostages in exchange for talks with Israel that would end the conflict and see the return of all remaining hostages.
But Israel has said it will only accept the full return of all the hostages and has pressed ahead with a plan to occupy Gaza City, which international monitors like the UN have warned could worsen a famine already afflicting the Palestinian territory.
Rubio last week announced sanctions against multiple International Criminal Court judges and prosecutors involved in the court’s investigation into Israel’s actions in Gaza and the issuing of arrest warrants against Israeli Prime Minister Benjamin Netanyahu and former defence minister Yoav Gallant.
—With files from Reuters
© 2025 Global News, a division of Corus Entertainment Inc.
UK refuses to invite Israeli government officials to London arms fair over the war in Gaza – National TenX News
Israel soon will halt or slow aid to northern Gaza as military offensive grows – National TenX News
U.S. scraps Palestinian officials’ visas ahead of UN General Assembly – National TenX News
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