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Trump orders firing of US official as cracks emerge in jobs market

President Donald Trump said Friday he has ordered the firing of a key economic official, accusing her of manipulating employment data for political reasons — without giving evidence — after a new report showed cracks in the US jobs market.US job growth missed expectations in July, Labor Department data showed, and revisions to hiring figures in recent months brought them to the weakest levels since the Covid-19 pandemic.Trump lashed out at the department’s Commissioner of Labor Statistics — Erika McEntarfer — after the report, writing on social media that the jobs numbers “were RIGGED in order to make the Republicans, and ME, look bad.”In a separate post on his Truth Social platform, he charged that McEntarfer had “faked” jobs data to boost Democrats’ chances of victory in the recent presidential election.”McEntarfer said there were only 73,000 Jobs added (a shock!) but, more importantly, that a major mistake was made by them, 258,000 Jobs downward, in the prior two months,” Trump said, referring to latest data for July.”Similar things happened in the first part of the year, always to the negative,” he added.But he insisted that the world’s biggest economy was “booming” under his leadership.The United States added 73,000 jobs last month, while the unemployment rate rose to 4.2 percent from 4.1 percent, said the Department of Labor earlier Friday.Hiring numbers for May were revised down from 144,000 to 19,000. The figure for June was shifted from 147,000 to 14,000.This was notably lower than job creation levels in recent years. During the pandemic, the economy lost jobs.The employment data points to challenges in the key labor market as companies took a cautious approach in hiring and investment while grappling with Trump’s sweeping — and rapidly changing — tariffs this year.The numbers also pile pressure on the central bank as it mulls the best time to cut interest rates.With tariff levels climbing since the start of the year, both on imports from various countries and on sector-specific products such as steel, aluminum and autos, many firms have faced higher business costs.Some are now passing them along to consumers.- ‘Gamechanger’ -“This is a gamechanger jobs report. The labor market is deteriorating quickly,” said Heather Long, chief economist at the Navy Federal Credit Union.She added in a note that of the growth in July, “75 percent of those jobs were in one sector: health care.””The economy needs certainty soon on tariffs,” Long said. “The longer this tariff whiplash lasts, the more likely this weak hiring environment turns into layoffs.”But it remains unclear when the dust will settle, with Trump ordering the reimposition of steeper tariffs on scores of economies late Thursday, which are set to take effect in a week.The president also raised tariffs on Canadian imports, although broad exemptions remain.Mortgage Bankers Association economist Joel Kan said that for now, “goods-producing industries saw contraction for the third straight month.””Service industries involved in trade also saw declines in job growth, potentially a result of the uncertain tariff environment, as businesses either put their activity on pause or pulled back altogether,” Kan added in a note.- ‘Overly cautious’ -A sharp weakening in the labor market could push the Federal Reserve toward slashing interest rates sooner to shore up the economy.On Friday, the two Fed officials who voted this week against the central bank’s decision to keep rates unchanged warned that standing pat risks further damaging the economy.Both Fed Vice Chair for Supervision Michelle Bowman and Governor Christopher Waller argued that the inflationary effects of tariffs were temporary.They added in separate statements that the bank should focus on fortifying the economy to avert further weakening in the labor market.Putting off an interest rate cut “could result in a deterioration in the labor market and a further slowing in economic growth,” Bowman added.Waller said: “I believe that the wait and see approach is overly cautious.”

Epstein accomplice Maxwell moved to minimum security Texas prison

Ghislaine Maxwell, the accomplice of sex offender Jeffrey Epstein, has been moved from a prison in Florida to a minimum security facility in Texas, the Bureau of Prisons said Friday, triggering an angry reaction from some of their victims.No reason was given for Maxwell’s transfer but it comes a week after a top Justice Department official met with her to ask questions about Epstein, who died in a New York jail in 2019 while awaiting trial for allegedly sex trafficking underage girls.”We can confirm Ghislaine Maxwell is in the custody of the Federal Bureau of Prisons at the Federal Prison Camp (FPC) Bryan in Bryan, Texas,” a Bureau of Prisons spokesman said.Deputy Attorney General Todd Blanche, President Donald Trump’s former personal lawyer, interviewed Maxwell for two days at a Florida courthouse last week in a highly unusual meeting between a convicted felon and high-ranking Justice official.Blanche has declined so far to say what was discussed but Maxwell’s lawyer, David Markus, said she answered every question she was asked.Maxwell has offered to testify before Congress about Epstein if given immunity and has also reportedly been seeking a pardon from Trump, a one-time close friend of Epstein.She had been subpoenaed to give a deposition to the House Oversight Committee on August 11, but Politico reported Friday it had been postponed indefinitely.The former British socialite is serving a 20-year sentence after being convicted in 2021 of recruiting underage girls for Epstein.Two women who said they were sexually abused by Epstein and Maxwell and the family of another accuser who recently committed suicide condemned the prison transfer.”It is with horror and outrage that we object to the preferential treatment convicted sex trafficker Ghislaine Maxwell has received,” Annie and Maria Farmer and the family of Virginia Giuffre said in a statement Friday.”Ghislaine Maxwell is a sexual predator who physically assaulted minor children on multiple occasions, and she should never be shown any leniency,” they said.”Yet, without any notification to the Maxwell victims, the government overnight has moved Maxwell to a minimum security luxury prison in Texas,” they said. “This move smacks of a cover-up. The victims deserve better.”- ‘Cover-up in real time’ -Tim Hogan, a senior Democratic National Committee advisor, also denounced what he alleged was a “government cover-up in real time.””Donald Trump’s FBI, run by loyalist Kash Patel, redacted Trump’s name from the Epstein files — which have still not been released,” Hogan said.”While Trump and his administration try to cover up the heinous crimes included in those files, they’re simultaneously doing favors for convicted sex trafficker Ghislaine Maxwell.”Trump is facing mounting demands from Democrats and many of his conspiracy-minded Make America Great Again supporters to be more transparent about the case of the wealthy and well-connected Epstein.Trump’s supporters have been obsessed with the Epstein case for years and have been up in arms since the FBI and Justice Department said last month that Epstein had committed suicide while in jail, did not blackmail any prominent figures, and did not keep a “client list.”The president raised further questions this week as he told reporters he fell out with Epstein after the financier “stole” female employees from the spa at Trump’s Mar-a-Lago resort in Florida.One of those girls was Giuffre, who accused Epstein of using her as a sex slave and committed suicide at her home in Australia in April.Giuffre’s family issued a statement this week appealing to Trump not to consider pardoning Maxwell, who they called a “monster who deserves to rot in prison for the rest of her life.”

France says it cannot save contraceptives US plans to destroy

France said Friday it could not seize $9.7 million worth of women’s contraception products that the United States plans to destroy, after media reports suggested the stockpile would be incinerated in the country.The contraceptives were purchased by the US foreign aid agency USAID under former president Joe Biden to be provided to women in some of the world’s poorest countries, particularly in sub-Saharan Africa.But Donald Trump’s administration, which has dismantled USAID since Trump succeeded Biden in January, confirmed last month it intends to destroy the contraceptives being stored in a warehouse in the Belgian city of Geel.According to several media reports, the unexpired products were to be incinerated in France at the end of July by a company that specialises in destroying medical waste.France’s government has come under pressure to save the contraceptives, with women’s rights groups calling the US decision “insane”.But the health ministry told AFP that “unfortunately there is no legal basis” for French or even European health authorities to intervene to recover the stockpile.”Since contraceptives are not drugs of major therapeutic interest, and in this case we are not facing a supply shortage, we have no means to requisition the stocks,” it added.The ministry also said it had no information on where the contraceptives would be destroyed.- Where are they?  -It remains unclear where the contraceptives currently are — or even if they have already been destroyed.French women’s rights group Family Planning told AFP on Thursday they had been informed that the boxes had started being moved out of the Belgian warehouse 36 hours earlier.”We do not know where these trucks are now — or whether they have arrived in France,” the group’s head Sarah Durocher said, calling on incineration companies to “oppose this insane decision”.Exactly which company could be responsible for incinerating the products has also not been revealed.French company Veolia, which had been rumoured as a contender, confirmed to AFP that it has a contract with the US firm Chemonics, USAID’s logistics provider. However the company emphasised that the contract only covers “expired products, which is not the case for the stockpile” in Belgium.The products, which include IUDs, implants and birth control pills, are reportedly up to five years away from expiring.Belgium’s foreign ministry told AFP earlier this week that it “is exploring all possible avenues to prevent the destruction of these products, including temporary relocation solutions”.- ‘Senseless’ -The US decision has provoked an outcry in France.”Can France accept to become the executor of a senseless policy imposed by the US?” said an opinion piece by five NGOs in the French newspaper Le Monde on Friday.Among the signatories was MSI Reproductive Choices, one of several organisations that have offered to purchase and repackage the contraceptives at no cost to the US government. All offers have been rejected.Last week, Democratic Senator Jeanne Shaheen pointed to the Trump administration’s stated goal of reducing government waste, saying the contraceptives plan “is the epitome of waste, fraud and abuse”.Shaheen and Democratic Senator Brian Schatz have introduced a bill aiming to prevent further US aid being wasted.A US State Department spokesperson told AFP earlier this week that the destruction of the products would cost $167,000 and “no HIV medications or condoms are being destroyed”.The spokesperson also pointed to a policy, reinstated by Trump earlier this year, which prohibits providing aid to non-governmental organisations that promote or perform abortions.The NGO Doctors Without Borders, which has slammed the US plan as “unconscionable”, has pointed to reports that there is another warehouse with USAID-purchased contraceptives in the United Arab Emirates.A study published in The Lancet medical journal in June estimated that more than 14 million of the world’s most vulnerable people could die as a result of the USAID cuts.Last month, the US also incinerated nearly 500 metric tons of high-nutrition biscuits that had been meant to keep malnourished children in Afghanistan and Pakistan alive.

International crew bound for space station

NASA and SpaceX launched a four-member crew to the International Space Station (ISS) on Friday for the latest research expedition to the orbiting laboratory.American astronauts Zena Cardman and Mike Fincke, Japan’s Kimiya Yui, and Roscosmos cosmonaut Oleg Platonov lifted off at 11:43 am aboard a SpaceX Crew Dragon capsule mounted on a Falcon 9 rocket from Kennedy Space Center in Florida.The capsule, named Endeavour, has previously flown four NASA missions as well as a private mission.The Crew-11 mission marks the 11th crew rotation mission to the ISS under NASA’s Commercial Crew Program, which was created to succeed the Space Shuttle era by partnering with private industry.As part of their six-month stay, the Crew-11 astronauts will simulate Moon landing scenarios that could be encountered near the lunar South Pole under the United States-led Artemis program.Using handheld controllers and multiple display screens, they will test how shifts in gravity affect astronauts’ ability to pilot spacecraft, including future lunar landers.Continuously inhabited since 2000, the ISS functions as a vital testbed for research that supports deeper space exploration — including eventual missions to Mars.Among Crew-11’s more colorful cargo items are Armenian pomegranate seeds, which will be compared to a control batch kept on Earth to study how microgravity influences crop growth.The ISS is set to be de-commissioned after 2030, with its orbit gradually lowered until it breaks up in the atmosphere over a remote part of the Pacific Ocean called Point Nemo, a spacecraft graveyard.Dmitry Bakanov, the head of Russia’s space agency Roscosmos has been holding talks with NASA’s acting administrator Sean Duffy this week about the station’s future.When US-Russia relations nosedived at the start of the Ukraine war, Russia threatened to pull out of ISS cooperation early. But on Thursday, Bakanov confirmed Russia remained committed to de-orbiting in 2030. 

Russian drone attacks on Ukraine hit all-time record in July

Russia fired a record number of drones at Ukraine in July, an AFP analysis showed Friday, intensifying its deadly bombardment of the country despite US pressure to stop the war.Russian attacks have killed hundreds of Ukrainian civilians since June.A combined missile and drone attack on the Ukrainian capital Kyiv early Thursday killed 31 people, including five children, said rescuers.Russian President Vladimir Putin, who has consistently rejected calls for a ceasefire, said Friday that he wanted peace but that his demands for ending the nearly three-and-a-half year invasion were “unchanged”.Those demands include that Ukraine withdraw from territory it already controls and drop its NATO ambitions forever.”The main thing is to eradicate the causes that gave rise to this crisis,” Putin told reporters alongside Belarusian President Alexander Lukashenko.”We need a lasting and stable peace on solid foundations that would satisfy both Russia and Ukraine, and would ensure the security of both countries,” Putin said.- Flowers for the children -In Kyiv, residents held a day of mourning for the 31 killed on Thursday, most of whom were in a nine-storey apartment block torn open by a missile.AFP journalists at the scene on Friday saw rescue workers pulling bodies from the debris.Iryna Drozd, a 28-year-old mother-of-three, was laying flowers at the site to commemorate the five children killed.The youngest, whose lifeless body was found early Friday, was two years old.”These are flowers because children died. We brought flowers because we have children. Our children live across the street from here,” she told AFP.Ukrainian President Volodymyr Zelensky, who announced rescue operations had ended on Friday, said later that only Putin could end the war and renewed his call for a meeting between the two leaders.”The United States has proposed this. Ukraine has supported it. What is needed is Russia’s readiness,” he wrote on X.- ‘We can wait’ -Putin made no mention of a possible meeting with Zelensky in his comments to reporters Friday, and suggested Kyiv was not ready for further negotiations.”We can wait if the Ukrainian leadership believes that now is not the time,” he said.He said Russian troops were advancing “along the entire front line”, and that Moscow had started mass producing “Oreshnik” — a nuclear-capable, hypersonic missile that Moscow first fired on Ukraine last year.The Kremlin has consistently rejected a ceasefire in Ukraine, saying in July it saw no immediate diplomatic way out of its nearly three-and-a-half year invasion.US President Donald Trump on Thursday condemned Russia’s actions in Ukraine, suggesting that new sanctions against Moscow were coming.”Russia — I think it’s disgusting what they’re doing. I think it’s disgusting,” Trump told journalists.Trump also said he would send his special envoy Steve Witkoff, currently in Israel, to visit Russia next.On Tuesday, the US leader issued a 10-day ultimatum for Moscow to halt its invasion, now in its fourth year, or face sanctions.- ‘Depraved’ -EU foreign policy chief Kaja Kallas described Thursday’s attacks as “depraved” on Friday and posted a picture of the bloc’s flag at half mast.”More weapons for Ukraine and tougher sanctions on Russia are the fastest way to end the war. Getting more air defenses to Ukraine fast is our priority,” she added in a post.Zelensky has been appealing to allies for more air defence systems and on Friday, Germany said it would soon start delivering two more US-made Patriot launchers to Ukraine.Germany has already delivered three Patriot systems to Ukraine since the start of Russia’s full-scale invasion in February 2022.

Cracks emerge in US jobs market as Fed officials sound warning

The US employment market is showing weakness as companies grappled with President Donald Trump’s sweeping tariffs, government data showed Friday, while two central bank officials warned on labor risks in the world’s biggest economy.US job growth missed expectations in July, the data showed, and revisions to hiring figures in recent months brought them to the weakest levels since the Covid-19 pandemic.The employment data points to cracks in the key jobs market as companies took a cautious approach in hiring and investment and puts pressure on the central bank as it mulls the best time to cut interest rates.The world’s biggest economy added 73,000 jobs last month, while hiring numbers were revised significantly lower for May and June, the Labor Department said.The jobless rate nudged up from 4.1 percent to 4.2 percent.Experts have warned that private sector firms appear to be in a wait-and-see mode due to heightened uncertainty over Trump’s rapidly changing trade policy.With tariff levels climbing since the start of the year, both on imports from various countries and on sector-specific products such as steel, aluminum and autos, many firms have faced higher business costs.Some are now passing them along partially to consumers.On Friday, the Department of Labor said hiring numbers for May were revised down from 144,000 to 19,000. The figure for June was shifted from 147,000 to 14,000.This was notably lower than job creation levels in recent years. During the pandemic, the economy lost jobs.Average hourly learnings rose by 0.3 percent to $36.44 in July, the Labor Department said.It added that employment continued rising in health care and in social assistance, while the federal government continued shedding jobs.- ‘Gamechanger’ -“This is a gamechanger jobs report. The labor market is deteriorating quickly,” said Heather Long, chief economist at the Navy Federal Credit Union.She added in a note that of the growth in July, “75 percent of those jobs were in one sector: healthcare.”The US economy has added an average of just 35,000 jobs per month since May, data showed.”The economy needs certainty soon on tariffs,” Long said. “The longer this tariff whiplash lasts, the more likely this weak hiring environment turns into layoffs.”But it remains unclear when the dust will settle, with Trump ordering the reimposition of steeper tariffs on scores of economies late Thursday that are set to take effect in a week.Trump also raised tariffs on Canadian imports, while maintaining existing exemptions.Joel Kan, chief economist at the Mortgage Bankers Association, said that for now, “goods-producing industries saw contraction for the third straight month.””Service industries involved in trade also saw declines in job growth, potentially a result of the uncertain tariff environment, as businesses either put their activity on pause or pulled back altogether,” Kan added in a note.- ‘Overly cautious’ -A sharp weakening in the labor market could push the Federal Reserve toward slashing interest rates sooner to shore up the economy.On Friday, the two Fed officials who voted this week against the central bank’s decision to keep rates unchanged warned that standing pat risks further damaging the economy.Both Fed Vice Chair for Supervision Michelle Bowman and Governor Christopher Waller argued that the inflationary effects of tariffs were temporary.They added in separate statements that the bank should focus on fortifying the economy to avert further weakening in the labor market.Putting off an interest rate cut “could result in a deterioration in the labor market and a further slowing in economic growth,” Bowman added.Waller said: “I believe that the wait and see approach is overly cautious.”

Palantir gets US Army contract worth up to $10 bln

Palantir, the powerful data and AI company with deep ties to US national security bodies, has won a multi-billion-dollar contract to run US Army software and data.The agreement, announced Thursday, consolidates multiple contracts into a single enterprise deal that allows the military to buy Palantir’s products over the next decade to a value of up to $10 billion.”By streamlining our procurement processes and leveraging enterprise-level discounts, we are not only enhancing our operational effectiveness but also maximizing our buying power,” said Army chief information officer Leo Garciga.Palantir, an American data analysis and artificial intelligence company, has a reach that spans the global economy, with banks, hospitals, the US government, and the Israeli military among its ever-expanding client roster.”We want and need this country to be the strongest, most important country in the world,” Alex Karp, Palantir’s CEO, recently declared at a client conference in Palo Alto, California.Palantir was founded in 2003 by Peter Thiel — Silicon Valley’s preeminent conservative with long-standing ties to the Trump administration — Karp, and others with CIA backing. In the first quarter, the company received $373 million from the US government, a 45 percent jump from the previous year.This spring, federal immigration authorities (ICE) awarded the company a $30 million contract to develop a new platform for tracking deportations and visa overstays.

Trump unveils slew of new tariffs, punishes Canada

President Donald Trump unveiled new tariffs Thursday on nearly 70 countries — including a blistering 35 percent on neighbor Canada — as he seeks to reshape global trade to benefit the US economy.However, in a minor reprieve that opens the door to further negotiations, the White House said the measures will take effect in a week for most countries, not Friday as previously expected.The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while encouraging domestic manufacturing by keeping out foreign imports.But the muscular approach has raised fears of inflation and other economic fallout in the world’s biggest economy.Trump raised duties on nearly 70 economies, from a current 10 percent level imposed in April when he unleashed “reciprocal” tariffs citing unfair trade practices.The new, steeper levels listed in an executive order vary by trading partner and go as high as 41 percent.Any goods “transshipped” through other jurisdictions to avoid US duties would be hit with an additional 40-percent tariff, the order said.The American leader separately hiked tariffs on Canadian goods from 25 percent to 35 percent — starting Friday.He had warned of trade consequences for Canada after Prime Minister Mark Carney announced plans to recognize a Palestinian state at the UN General Assembly in September.Trump’s order cited Canada’s failure to “cooperate in curbing the ongoing flood of fentanyl and other illicit drugs” as well as its “retaliation” against his measures.Carney said his government was “disappointed” with the hike, citing its efforts to crack down on fentanyl and increase border security.- ‘Tears up’ rule book -Trump gave more time to neighbor and major trading partner Mexico, delaying for 90 days a threat to increase tariffs from 25 percent to 30 percent, after holding talks with President Claudia Sheinbaum.Exemptions remain, however, for a wide range of Canadian and Mexican goods entering the United States under a North American trade pact.With questions hanging over the effectiveness of bilateral trade deals already struck — including with the European Union and Japan — the outcome of Trump’s overall plan remained uncertain.”No doubt about it — the executive order and related agreements concluded over the past few months tears up the trade rule book that has governed international trade since World War II,” said Wendy Cutler, senior vice president of the Asia Society Policy Institute.”Whether our partners can preserve it without the United States is an open question,” she added.Beijing warned that US protectionism “harms the interests of all parties”.”The Chinese side’s opposition to tariffs has been consistent and clear,” foreign ministry spokesman Guo Jiakun said, adding: “There is no winner in a tariff war or trade war.”The elevated duties come after Washington twice postponed their implementation amid a frantic series of negotiations, alongside announcements of new duties and deals with partners.The 79-year-old Republican has made tariffs core to his protectionist brand of hard-right politics. On Thursday, he claimed the US economy had “no chance of survival or success” without levies.- Frantic negotiations -But the latest salvo came amid legal challenges against Trump’s use of emergency economic powers. After a lower court said the president exceeded his authority, the US Court of Appeals heard arguments Thursday in cases against the blanket tariffs targeting different countries.While the president has touted a surge in customs revenues this year, economists warn the duties could fuel inflation.Proponents of his policy argue their impact will be one-off, but analysts are awaiting further data to gauge for more persistent effects.Those who managed to strike deals with Washington to avert steeper threatened levies included Vietnam, Japan, Indonesia, the Philippines, South Korea and the European Union.Among other tariff levels adjusted in Trump’s latest order, Switzerland now faces a higher 39 percent duty.The tariff on Taiwanese products was revised down to 20 percent from 32 percent, but its President Lai Ching-te vowed to seek an even lower level.In Southeast Asia, Phnom Penh and Bangkok welcomed news that they each face a 19-percent tariff — down from initial threatened levels of 49 percent on Cambodia and 36 percent on Thailand.Britain also reached a pact with the United States, although it was not originally targeted by higher “reciprocal” tariffs.Notably excluded from the drama was China, which faces an August 12 deadline instead, when duties could bounce back to higher levels.Washington and Beijing at one point brought tit-for-tat tariffs to triple-digit levels, but both countries have agreed to temporarily lower these duties and are working to extend their truce.

Trump orders tariffs on dozens of countries in push to reshape global trade

President Donald Trump ordered the reimposition of tariffs on dozens of trading partners Thursday — his cornerstone strategy for reshaping global trade to benefit the US economy.However, in a minor reprieve that opens the door to further negotiations, the White House said these measures will take effect in a week, not Friday as previously expected.The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while encouraging domestic manufacturing by keeping out foreign imports.But the muscular approach has raised fears of inflation and other economic fallout in the world’s biggest economy.And with questions hanging over the effectiveness of bilateral trade deals already struck — including with the European Union and Japan — the outcome of Trump’s plan remained uncertain.Trump’s new measures in an executive order raises duties on nearly 70 economies, from a current 10 percent level imposed in April when he unleashed “reciprocal” tariffs citing unfair trade practices.The steeper levels, varying by trading partner, go as high as 41 percent.Trump also adjusted some tariff levels threatened in April, with Switzerland now facing a higher 39 percent duty and Thailand a lower 19 percent rate.The tariff on Taiwanese products was revised down to 20 percent, but its President Lai Ching-te vowed to seek an even lower level.Trump separately hiked tariffs on Canadian goods to 35 percent, though indicating in an NBC interview he was open to further talks. Canada and Mexico face a separate tariff regime. But exemptions remain for imports entering the United States under a North American trade pact.”No doubt about it — the executive order and related agreements concluded over the past few months tears up the trade rule book that has governed international trade since World War II,” said Wendy Cutler, senior vice president of the Asia Society Policy Institute.”Whether our partners can preserve it without the United states is an open question,” she added.- Frantic negotiations -The elevated duties come after Washington twice postponed their implementation amid a frantic series of negotiations, alongside announcements of new duties and deals with partners.Just Thursday, Trump announced he was delaying a tariff hike on Mexican products, keeping levels at 25 percent with existing exemptions. The 90-day postponement followed talks with his counterpart Claudia Sheinbaum.The 79-year-old Republican has made tariffs core to his protectionist brand of hard-right politics. On Thursday, he claimed that the US economy had “no chance of survival or success” without tariffs.But the latest salvo came amid legal challenges against Trump’s use of emergency economic powers. After a lower court said the president exceeded his authority, the US Court of Appeals heard arguments Thursday in cases against Trump’s blanket tariffs targeting different countries.While Trump has touted a surge in customs revenues this year, economists warn the duties could fuel inflation.Proponents of his policy argue their impact will be one-off, but analysts are awaiting further data to gauge for more persistent effects.- China question mark -Those who managed to strike deals with Washington to avert steeper threatened levies were Vietnam, Japan, Indonesia, the Philippines, South Korea and the EU.Britain also reached a pact with the United States, although it was not originally targeted by higher “reciprocal” tariffs.For Canada, transshipped goods to evade its 35 percent duty would face even higher levels, said a White House fact sheet. Its trade ties with Washington faced renewed threat after Prime Minister Mark Carney announced plans to recognize a Palestinian state at the UN General Assembly in September.Trump’s latest order however appeared to raise tariffs on several countries not initially targeted in April — to 15 percent — including Ecuador, Ghana and Iceland.Notably excluded from the drama was China, which faces an August 12 deadline instead, when duties could bounce back to higher levels.Washington and Beijing at one point brought tit-for-tat tariffs to triple-digit levels, but both countries have agreed to temporarily lower these duties and are working to extend their truce.

Nvidia says no ‘backdoors’ in chips as China questions security

Nvidia chips do not contain “backdoors” allowing remote access, the US tech giant has said, after Beijing summoned company representatives to discuss “serious security issues”.The California-based company is a world-leading producer of AI semiconductors, and this month became the first company to hit $4 trillion in market value.But it has become entangled in trade tensions between China and the United States, and Washington effectively restricts which chips Nvidia can export to China on national security grounds.”Cybersecurity is critically important to us. Nvidia does not have ‘backdoors’ in our chips that would give anyone a remote way to access or control them,” Nvidia said in a statement Thursday.A key issue has been Chinese access to the “H20” — a less powerful version of Nvidia’s AI processing units that the company developed specifically for export to China.Nvidia said this month it would resume H20 sales to China after Washington pledged to remove licensing curbs that had halted exports.But the tech giant still faces obstacles — US lawmakers have proposed plans to require Nvidia and other manufacturers of advanced AI chips to include built-in location tracking capabilities.Beijing’s top internet regulator said Thursday it had summoned Nvidia representatives to discuss recently discovered “serious security issues” involving the H20.The Cyberspace Administration of China said it had asked Nvidia to “explain the security risks of vulnerabilities and backdoors in its H20 chips sold to China and submit relevant supporting materials”.China is aiming to reduce reliance on foreign tech by promoting Huawei’s domestically developed 910C chip as an alternative to the H20, said Jost Wubbeke of the Sinolytics consultancy.”From that perspective, the US decision to allow renewed exports of the H20 to China could be seen as counterproductive, as it might tempt Chinese hyperscalers to revert to the H20, potentially undermining momentum behind the 910C and other domestic alternatives,” he said.Other hurdles to Nvidia’s operations in China are the sputtering economy, beset by a years-long property sector crisis, and heightened trade headwinds under US President Donald Trump.CEO Jensen Huang said during a visit to Beijing this month that the company remained committed to serving local customers, adding that he had been assured during talks with top Chinese officials that the country was “open and stable”.