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Trump announces 3-month pause on “reciprocal” tariffs

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President Donald Trump announced a complete three-month pause on all the “reciprocal” tariffs that went into effect at midnight, with the exception of China, a stunning reversal from a president who had insisted historically high tariffs were here to stay.
But enormous tariffs will remain on China, the world’s second-largest economy. In fact, Trump said they will be increased to 125% from 104% after China announced additional retaliatory tariffs against the United States earlier Wednesday. All other countries that were subjected to reciprocal tariff rates Wednesday will see rates go back down to the universal 10% rate, he said.

“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump said in his social media post. “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” he wrote.

Speaking to reporters after the announcement, Trump said, “Nothing’s over yet, but we have a tremendous amount of spirit from other countries, including China. China wants to make a deal, they just don’t know how quite to go about it.”

Mexico and Canada won’t face the 10% tariffs, a White House official told CNN. Almost every good coming from the two nations will continue to be tariffed at 25%, unless they are compliant with the US-Mexico-Canada Agreement, in which case they won’t face tariffs. However, that does not apply to sector-specific tariffs Trump has imposed.

Wall Street breathed a sigh of relief, however, that Trump was backing down on other extreme trade measures. Stocks rallied sharply on the news – even though the 10% universal tariff on all imports coming into the United States remained in effect.

The Dow surged nearly 3,000 points or 7.87%, on Wednesday. The S&P 500 shot up 9.5%. The tech-heavy Nasdaq soared 12.2%. This marked the best day for the S&P 500 since October 2008. The Nasdaq posted its best day since January 2001 and its second-best day on record. While the Dow posted its best day in five years.

This comes after markets have been getting slammed by the prospect of the significantly higher tariffs Trump laid out last week.

Hours before making the announcement, Trump said “THIS IS A GREAT TIME TO BUY!!!”

He concluded the post with “DJT,” potentially a nod to Trump Media & Technology Group Corp, which trades under the ticker “DJT.” At the time, the parent of Truth Social, DJT shares were down nearly 13% this month. After the announcement, shares were up over 20% for Wednesday alone.

Trump told reporters his decision to move forward with the pause was in part influenced by people “getting a little yippy yappy.”

“You have to have flexibility,” he added, a stark about-face from recent comments he and administration officials have made recently insisting Trump was not going to back off his promises.

(CNN)

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Trump calls Putin ‘crazy’ after largest Russian attack on Ukraine

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US President Donald Trump has said he is “not happy” with his Russian counterpart Vladimir Putin, following Moscow’s largest aerial attack yet on Ukraine.In a rare rebuke, Trump said: “What the hell happened to him? He’s killing a lot of people.” He later called Putin “absolutely crazy”.

Ukrainian President Volodymyr Zelensky earlier said Washington’s “silence” over recent Russian attacks was encouraging Putin, urging “strong pressure” – including tougher sanctions – on Moscow.

At least 12 people were killed and dozens injured in Ukraine overnight Sunday after Russia fired 367 drones and missiles – the highest number in a single night since Putin launched a full-scale invasion in 2022.

Air sirens warning of incoming drones and missiles sounded again in many regions of Ukraine early on Monday.

At least three people, including a child, were injured in the north-eastern city of Kharkiv, Mayor Ihor Terekhov said.

In the southern Zaporizhzhia region, two people were injured, said regional head Ivan Fedorov.

In Russia, Moscow Mayor Sergei Sobyanin said two Ukrainian drones heading towards the capital were destroyed by air defence units. No injuries were reported.

Speaking to reporters in New Jersey late on Sunday, Trump said of Putin: “I’ve known him a long time, always gotten along with him, but he’s sending rockets into cities and killing people, and I don’t like it at all.”

Asked about whether he was considering increasing US sanctions on Russia, Trump replied: “Absolutely.” The US president has repeatedly threatened to do this before – but is yet to implement any restrictions against Moscow.

Shortly afterwards, Trump wrote in a post on Truth Social that Putin “has gone absolutely crazy”.

“I’ve always said that he wants all of Ukraine, not just a piece of it, and maybe that’s proving to be right, but if he does, it will lead to the downfall of Russia!”

But the US president also had strong words for Zelensky, saying that he “is doing his country no favours by talking the way he does”.

“Everything out of his mouth causes problems, I don’t like it, and it better stop,” Trump wrote of Zelensky.

Despite Kyiv’s European allies preparing further sanctions for Russia, the US has said it will either continue trying to broker these peace talks, or “walk away” if progress does not follow.

Last week, Trump and Putin had a two-hour phone call to discuss a US-proposed ceasefire deal to halt the fighting.

The US president said he believed the call had gone “very well”, adding that Russia and Ukraine would “immediately start” negotiations toward a ceasefire and “an end to the war”.

Ukraine has publicly agreed to a 30-day ceasefire.

Putin has only said Russia will work with Ukraine to craft a “memorandum” on a “possible future peace” – a move described by Kyiv and its European allies as delaying tactics.

The first direct Ukrainian-Russian talks since 2022 were held on 16 May in Istanbul, Turkey.

Aside from a major prisoner of war swap last week, there was little or no progress on bringing a pausing in fighting closer.

Russia currently controls about 20% of Ukrainian territory. This includes Crimea – Ukraine’s southern peninsula annexed by Moscow in 2014.

(BBC News)

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Israeli embassy couple shot dead in Washington

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Shooting suspect Elias Rodriguez has been charged with two counts of first-degree murder after two Israeli embassy staff were killed in Washington DC on Wednesday night.

Sarah Lynn Milgrim and Yaron Lischinsky were leaving an event at the Capital Jewish Museum when they were shot dead.

Rodriguez, a 30-year-old from Chicago, was detained at the scene. More charges could come later, law enforcement officials say, and the FBI is aware of “writings” purported to be from the suspect.

Police say the suspect was in town for a work conference, and shouted “free Palestine” after being taken into custody.

US President Trump says the attack is “so sad” and “based obviously on antisemitism”, while DC Mayor Muriel Bowser says “this crime will not be tolerated in our city”.

Israel’s Prime Minister Benjamin Netanyahu has linked the shooting to the 7 October 2023 attack and says security will be increased at Israeli embassies worldwide.

(BBC News)

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‘Shrinking Nemo’: Smaller clownfish sound alarm on ocean heat

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Fish similar to those made famous by the movie Finding Nemo are shrinking to cope with marine heatwaves, a study has found.

The research recorded clownfish living on coral reefs slimmed down drastically when ocean temperatures rocketed in 2023.

Scientists say the discovery was a big surprise and could help explain the rapidly declining size of other fish in the world’s oceans.

A growing body of evidence suggests animals are shape shifting to cope with climate change, including birds, lizards and insects.

“Nemos can shrink, and they do it to survive these heat stress events,” said Dr Theresa Rueger, senior lecturer in Tropical Marine Sciences at Newcastle University.

The researchers studied pairs of clownfish living in reefs off Kimbe Bay in Papua New Guinea, a hot spot of marine biodiversity

The wild clownfish are almost identical to the ones depicted in the movie Finding Nemo, in which a timid clownfish living off the Great Barrier Reef goes in search of his son.

The scientific study took place in the summer of 2023, when temperatures shot up in the oceans, leading to large swathes of coral turning white.

The scientists took multiple measurements of individual clownfish coping with the heat.

They found the tiny fish didn’t just lose weight but got shorter by several millimetres. And it wasn’t a one-off – 75% of fish shrunk at least once during the heatwave.

Dr Rueger explained: “It’s not just them going on a diet and losing lots of weight, but they’re actively changing their size and making themselves into a smaller individual that needs less food and is more efficient with oxygen.”

The fish may be absorbing fat and bone, as has been seen in other animals, such as marine iguanas, although this needs to be confirmed through laboratory studies.

Dr Rueger joked that a little bit of movie rewriting might be necessary, with a new chapter ahead for Nemo.

“The movie told a really good story, but the next chapter of the story surely is, how does Nemo deal with ongoing environmental change?” she told BBC News.

Global warming is a big challenge for warm-blooded animals, which must maintain a constant body temperature to prevent their bodies from overheating.

Animals are responding in various ways: moving to cooler areas or higher ground, changing the timing of key life events such as breeding and migration, or switching their body size.

The research is published in the journal, Science Advances.

(BBC News)

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