Trump and Xi to discuss trade and technology matters over a phone conversation
In the world of news, several significant developments have unfolded across the globe.
The US Federal Reserve made a move to cut interest rates for the first time since last December, a decision that came under pressure from President Trump who has been pushing for a panel of loyalists in the Fed. The rate cut, coupled with the expectation of tax cuts, has sent US stocks surging to record highs, with investors betting on a fresh economic boost.
Meanwhile, in the realm of health, a US advisory panel recommended delaying key inoculations for children due to a 1-in-2,300 chance of seizures associated with the combined measles, mumps, rubella, and varicella (MMRV) vaccine.
On the international front, tensions continue to escalate. The suspect in the assassination of conservative US activist Charlie Kirk was charged with aggravated murder and other counts, with prosecutors vowing to seek the death penalty. In the Middle East, Israel launched a ground offensive into Gaza City, further eroding prospects for a ceasefire in the enclave. In response, the European Union unveiled plans to impose sanctions and tariffs on Israel in response to its expansion of its war in Gaza.
Diplomatic relations also saw some shifts. The US, Mexico, and Canada began consultations ahead of a high-stakes review of their $2-trillion trade agreement. Meanwhile, countries are beginning to eschew partnerships with Washington or act in defiance of the White House, suggesting that Trump's aggressive foreign policy approach is not paying off as he hoped.
In a move that could have far-reaching implications, the US and China struck a "framework" deal over TikTok, with details to be approved by Trump and Xi Jinping. The responsible authority in the USA for regulating and overseeing technology companies, including TikTok, is primarily the Federal Trade Commission (FTC) along with other agencies like the Department of Commerce and certain powers from the White House, under executive orders for technology and AI regulation.
Elsewhere, there are signs of strengthening security ties among Gulf states. Saudi Arabia and Pakistan signed a mutual defense pact, while Bahrain, Kuwait, Saudi, and the United Arab Emirates agreed to boost intelligence sharing and military cooperation.
In the realm of technology, Meta unveiled new smart glasses, which let users see messages and watch videos on a high-resolution screen, and are controlled by hand gestures via a wristband. The glasses are integrated with Meta AI tools, and a reviewer for The Verge finds them to be the best they've ever tried, expressing optimism about the potential of consumer smart glasses.
In other news, King Charles' involvement in a visit is hoped to bolster Europe's efforts to push Trump to pressure Russia into ending the war in Ukraine. Trump recently blocked $400 million in military aid for Taiwan, and he is reported to have shown an admiration for the royal family during a dinner with the British royals at Windsor Castle, marking his second state visit to the UK.
The European Union, the biggest buyer of Russian natural gas, delayed sanctions on Moscow this week to better coordinate policy with G7 nations. However, debt is soaring and growth is cooling in Russia, raising concerns about its economic stability.
Lastly, in an effort to protect minors who use chatbots, OpenAI announced a version of ChatGPT for teens. Meanwhile, businesses are increasingly using AI for automation, intensifying fears about the technology's impact on human jobs. Beijing is displaying its military might, particularly its nuclear capacities, adding to the geopolitical tensions.
These are just a few highlights from the global news landscape. As always, stay informed and stay safe.
