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The United States has started imposing a new 10% tariff.

Ikechukwu Emmanuel

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As of 12:01 a.m. ET on Saturday, U.S. Customs and Border Protection (CBP) began enforcing the 10% tariff imposed by President Trump on imports from numerous countries. Higher tariffs targeting 57 major trading partners are scheduled to follow next week.

This action represents a significant departure from the post-World War II framework of reciprocal tariff agreements. Kelly Ann Shaw, a trade lawyer at Hogan Lovells and former White House trade advisor, described the move as “the single biggest trade action of our lifetime.”

The announcement has already reverberated through global markets. By the close of trading on Friday, it had triggered a $5 trillion decline in the stock market valuation of 500 leading companies over two days. Oil and commodity prices also experienced sharp declines, with investors shifting capital into government bonds.

While a CBP bulletin indicated that no grace period would be granted for cargoes already en route at the time of implementation, a subsequent bulletin provides a 51-day grace period for goods loaded onto vessels or planes and in transit before 12:01 a.m. ET Saturday. The long-term economic implications of these tariffs remain to be seen.

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Zelensky Accuses Russia of Enlisting Chinese Nationals in Ukraine Conflict.

Ikechukwu Emmanuel

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Ukrainian President Volodymyr Zelensky has publicly stated that hundreds of Chinese nationals are actively fighting alongside Russian forces in Ukraine. Speaking to allied military chiefs in Brussels on Friday, Zelensky accused Moscow of attempting to prolong the conflict by utilizing Chinese personnel.

This accusation follows earlier statements from Ukraine asserting the capture of two Chinese nationals fighting for Russia in the Donetsk region. While Russia has denied these claims, China has cautioned against making “irresponsible remarks” regarding the situation.

These developments further complicate the already protracted conflict, now entering its third year. The allegation of Chinese involvement introduces a new dimension to the geopolitical landscape and raises questions about the extent of international participation in the ongoing hostilities. The war has resulted in significant casualties on both sides, and ongoing efforts by the US and European nations aim to facilitate a peaceful resolution.

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Trump Signals Optimism Amidst Trade Tensions with China.

Ikechukwu Emmanuel

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The White House indicated Friday that President Trump remains optimistic regarding a potential trade agreement with China, despite escalating trade hostilities between the two nations.

White House Press Secretary Karoline Leavitt stated, “The president has made it very clear he’s open to a deal with China,” during a press briefing. This statement comes as recent tariff escalations from both sides have unsettled global markets.

While acknowledging the administration’s commitment to addressing trade imbalances with China, Leavitt cautioned against retaliatory measures. Recent weeks have seen significant tariff increases, including a 125% tariff on Chinese goods, a 20% “fentanyl tariff,” and retaliatory measures from China raising tariffs on US imports to 125%.

The administration maintains that taking action on trade with China has bipartisan support and remains a key priority. Despite the current tensions, the White House maintains a position of openness towards a negotiated resolution.

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US and Iran Set to Engage in Nuclear Talks.

Ikechukwu Emmanuel

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The United States and Iran are poised to resume talks concerning the Islamic Republic’s nuclear program. Secretary of State Marco Rubio confirmed the scheduled meeting, scheduled for Saturday, during a White House cabinet meeting on Thursday.

Secretary Rubio, speaking alongside President Trump, reaffirmed the United States’ firm stance against Iranian nuclear weapons development. He stated, “We’ve been very clear what Iran is never going to have is a nuclear weapon. That’s what led to this meeting.”

The direct talks will be facilitated by Special Envoy for the Middle East, Steve Witkoff, representing the US, and a high-ranking Iranian official. The meeting is slated to take place in Oman.

This development arrives amidst ongoing tensions and disagreements regarding Iran’s nuclear ambitions. Iran’s Foreign Minister, Abbas Araghchi, has expressed his country’s willingness to engage in discussions aimed at reaching a definitive agreement. The outcome of these talks remains to be seen.

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