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Trade Tensions Rise as EU Prepares Retaliation Against U.S. Tariff Hike

The European Union has strongly condemned President Donald Trump's decision to double tariffs on imported steel and aluminum, warning of swift countermeasures that could escalate global trade tensions. Announced Friday near Pittsburgh, Trump raised existing steel and aluminum tariffs from 25% to 50%, aiming to protect U.S. industry and bolster a $14.9 billion Nippon Steel–U.S. Steel deal. The European Commission responded sharply, calling the move a threat to transatlantic economic stability and global supply chains. “This decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,” a spokesperson said. The EU is finalizing consultations on expanded retaliatory tariffs, set to take effect by July 14 unless a negotiated solution is reached. The reaction from global trade partners was swift. Canada’s Chamber of Commerce criticized the tariffs as a threat to North American economic security, while Canada’s Uni...
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Fragile Ceasefire: Russia and Ukraine Exchange Blows Amid Minerals Deal Ratification

Despite a Moscow-declared 72-hour ceasefire, both Russia and Ukraine reported attacks on their forces, casting doubt on the truce’s effectiveness. The ceasefire, announced by Russian President Vladimir Putin, coincides with the 80th anniversary of the Soviet Union’s victory over Nazi Germany. However, Ukrainian officials accused Russia of violating its own ceasefire hundreds of times within the first few hours.  

Meanwhile, Ukraine’s parliament unanimously ratified a landmark minerals deal with the United States, a move expected to deepen strategic ties and facilitate reconstruction efforts. The agreement grants Washington access to Ukraine’s largely untapped mineral resources and establishes a joint investment fund for rebuilding the war-torn nation.  

Despite the ceasefire, Russian bombs struck northeastern Ukraine, killing at least one civilian, while artillery assaults continued along the 1,000-kilometer front line. Ukrainian Foreign Minister Andrii Sybiha condemned the ceasefire as a “farce,” citing ongoing Russian assault operations.  

As tensions persist, Putin welcomed Chinese President Xi Jinping to Moscow, underscoring Russia’s diplomatic efforts amid the ongoing conflict. Ukrainian President Volodymyr Zelenskyy, skeptical of the ceasefire, dismissed it as mere manipulation, arguing that it serves only to provide Putin with a peaceful backdrop for his Victory Day celebrations.  

With both sides exchanging accusations and hostilities continuing, the prospect of a lasting peace remains uncertain. The minerals deal, however, signals Ukraine’s commitment to strengthening its economic and strategic partnerships despite the ongoing war.

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