International
Trump, Xi Fail To Reach Major Deal As Tariff, Rare Earth Tensions Continue
Trump, Xi Fail To Reach Major Deal As Tariff, Rare Earth Tensions Continue
A high-stakes summit between United States President Donald Trump and Chinese President Xi Jinping ended without major breakthroughs on tariffs and rare earth exports, leaving key disputes between the world’s two largest economies unresolved despite renewed diplomatic engagement.
The meeting, held in Beijing, came amid ongoing tensions over trade, technology, and supply chains that have strained relations between Washington and Beijing for years.
Although both leaders projected optimism and pledged to maintain dialogue, the summit produced few concrete commitments, disappointing many investors and global business leaders who had hoped for a broader easing of trade restrictions.
Trump’s trade policies toward China remain one of the central sticking points in the relationship. During his first term, the US president imposed sweeping tariffs on Chinese imports and encouraged American companies to relocate manufacturing operations away from China.
While tariff levels have fallen from the triple-digit figures briefly reached last year, duties on Chinese goods entering the United States still stand at nearly 48 per cent, according to Chad Bown of the Peterson Institute for International Economics.
Both countries had reached a temporary truce in October last year under which Washington agreed to reduce some tariffs while Beijing maintained exports of critical rare earth materials to the United States. However, that agreement is due to expire in November.
Speaking after the summit, Trump revealed that tariff issues were not directly discussed during his conversations with Xi, raising uncertainty over whether the current arrangement would be extended.
“We did not discuss tariffs,” Trump told reporters.
Foreign policy analysts say extending the truce would have been the minimum achievement expected from the summit.
Patricia Kim, a foreign policy fellow at the Brookings Institution, described any extension of the agreement as “the most basic benchmark” for measuring the success of the meeting.
One of the most contentious unresolved issues remains China’s restrictions on rare earth exports.
Beijing imposed export controls on rare earth materials in response to Trump’s aggressive tariff measures introduced in April 2025. The restrictions have since disrupted supply chains for major American industries, including semiconductor manufacturers and aerospace companies.

United States President Donald Trump and Chinese President Xi Jinping
Rare earth elements are essential for the production of advanced technologies such as electric vehicles, semiconductors, radar systems, submarines, Tomahawk missiles, and F-35 fighter jets.
China currently dominates the global market, accounting for approximately 90 per cent of the world’s processed rare earths and magnets.
Analysts say Beijing’s ability to control supplies has become a major strategic advantage in its rivalry with Washington.
While the United States has accelerated efforts to build domestic rare earth supply chains, industry experts note that the country still lacks sufficient capacity to process and separate heavy rare earth materials independently.
The summit also failed to deliver major gains for leading American corporations that accompanied Trump to Beijing.
The US president arrived with a powerful delegation of business executives, including Tim Cook of Apple, Jensen Huang of Nvidia, Kelly Ortberg of Boeing and Elon Musk of Tesla.
However, expected business deals either failed to materialise or fell short of expectations.
Boeing shares dropped sharply after Trump announced that China would purchase 200 Boeing aircraft — significantly below earlier expectations of about 500 planes. Trump later stated that China could potentially buy as many as 750 aircraft in the future, but no binding agreement was announced.
The lack of clarity unsettled investors, with Boeing stock falling further in pre-market trading on Friday.
There was also no breakthrough regarding the sale of Nvidia’s advanced H200 artificial intelligence chips to China, despite Huang’s participation in the summit discussions.
US officials disclosed that both countries agreed on deals involving American agricultural exports and made progress on mechanisms aimed at managing future trade relations. According to officials, both sides are expected to identify up to $30 billion worth of non-sensitive goods for trade cooperation.
Trump also suggested that China could increase purchases of American oil. US Energy Secretary officials claimed Beijing had expressed interest in buying more US crude oil, although Chinese authorities did not publicly confirm any agreement or provide figures.
Business leaders remain cautious despite the renewed diplomatic engagement.
A senior American executive based in China told the Financial Times that while broader trade cooperation would be welcomed, companies still require “clarity” on timelines, tariffs, and the unresolved rare earth dispute.
Xi, meanwhile, sought to reassure foreign investors by declaring that China’s market would continue opening to international businesses.
“China’s door to business will only open wider and wider,” the Chinese president said during meetings with American executives.
Despite the optimistic rhetoric, the summit ended with few tangible outcomes, underscoring the deep economic and strategic divisions that continue to define US-China relations.
Trump, Xi Fail To Reach Major Deal As Tariff, Rare Earth Tensions Continue
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International
US-Iran ceasefire under threat as fresh strikes rock Middle East
US-Iran ceasefire under threat as fresh strikes rock Middle East
Fresh military exchanges between the United States and Iran have renewed fears that the fragile Middle East ceasefire could collapse, with both countries accusing each other of violating the truce even as negotiations continue toward a broader peace agreement.
The latest escalation is seen as the most serious challenge yet to the interim ceasefire reached earlier this month, raising concerns that months of diplomatic efforts could unravel despite mediation by regional and international partners.
Iranian state media reported on Saturday that Tehran launched retaliatory attacks against American-linked positions in the Gulf after US forces struck several Iranian military installations along the country’s southern coastline.
The United States, however, insisted its military action was a direct response to an Iranian drone attack on a commercial cargo vessel navigating the strategic Strait of Hormuz, describing the incident as a clear breach of the ceasefire agreement.
According to the US Central Command (CENTCOM), American forces targeted Iranian missile and drone storage facilities, coastal radar installations and other military infrastructure in a precision operation aimed at protecting international shipping routes.
CENTCOM described the strikes as a “powerful response” to what it called “unwarranted aggression against commercial shipping by Iranian forces” that “clearly violated the ceasefire.”
US officials said the military operation lasted about 90 minutes and focused on degrading Iran’s capability to threaten maritime traffic in the Gulf.
US President Donald Trump condemned the reported Iranian drone attack on the commercial vessel, describing it as “a foolish violation of our ceasefire agreement.”
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Vice President JD Vance also warned Tehran against further escalation, saying on X that “violence will be met with violence” if additional attacks were carried out.
Iran rejected Washington’s account, insisting its military actions were defensive and accusing the United States of violating international law by attacking Iranian territory.
The Iranian Foreign Ministry maintained that Tehran’s response was legitimate self-defence, while the Islamic Revolutionary Guard Corps (IRGC) later announced retaliatory strikes against American positions across the Gulf.
In a statement carried by Iranian state television, the Guards warned that any repeat of US military action would trigger an even broader response.
Iranian state television also reported an explosion at Taherouyeh Pier near the southern port city of Sirik, attributing the blast to a projectile strike. However, the Mehr News Agency later reported that port operations continued normally and no significant damage had been recorded.
The renewed confrontation has once again drawn international attention to the Strait of Hormuz, through which nearly one-fifth of global oil and liquefied natural gas exports pass.
Although Iran continues to insist that vessels obtain its approval before transiting the waterway, commercial shipping has gradually resumed following earlier disruptions.
Several shipping companies have adopted alternative routes or delayed voyages due to heightened security concerns, while naval patrols by Western and regional forces have increased to safeguard commercial vessels.
Despite the latest military exchanges, global oil prices have continued to decline amid expectations that maritime traffic through the strategic waterway will continue and that both Washington and Tehran remain committed to preserving the broader ceasefire.
Amid the renewed tensions, Israel and Lebanon signed a US-brokered framework agreement on Friday aimed at laying the foundation for lasting peace along their shared border.
The agreement followed five rounds of negotiations in Washington and is expected to serve as a roadmap for reducing hostilities between both neighbours.
US Secretary of State Marco Rubio described the agreement as “the beginning of the beginning,” saying it creates a framework for lasting peace and security while acknowledging that significant work remains.
Under the arrangement, Lebanese armed forces will gradually assume control of pilot areas currently occupied by Israeli troops, while Israel will maintain a limited security presence until the disarmament of Hezbollah can be independently verified.
The United States also announced plans to establish a Military Coordination Group to oversee implementation of the agreement, alongside an additional $100 million humanitarian assistance package for affected communities.
Israeli Prime Minister Benjamin Netanyahu hailed the agreement as a diplomatic victory over Iran, insisting Tehran should have no role in Lebanon’s future security arrangements.
Lebanese President Joseph Aoun welcomed the accord as a “first step” toward restoring state sovereignty and allowing displaced civilians to return home safely.
However, the Iran-backed Hezbollah movement rejected the framework, with senior lawmaker Hassan Fadlallah arguing that the agreement was intended to weaken the broader regional ceasefire involving Iran.
Supporters of Hezbollah later staged protests in Beirut following the announcement.
Meanwhile, International Atomic Energy Agency (IAEA) Director General Rafael Grossi stressed that any permanent agreement between Washington and Tehran must include rigorous international verification to ensure Iran does not develop nuclear weapons.
Grossi said Iran has repeatedly insisted that developing nuclear weapons is not its intention.
“Intentions are not enough,” he said, adding that a strong verification mechanism must be established as soon as possible.
Iran’s nuclear programme remains one of the most contentious issues in ongoing negotiations, with Tehran and Washington still divided over future access for international inspectors.
Under the interim agreement, Iran’s estimated 440-kilogram stockpile of uranium enriched to 60 per cent is expected to be downblended under IAEA supervision.
Diplomatic sources say the coming days will be crucial in determining whether the latest exchange of military strikes proves to be an isolated incident or marks the beginning of a broader regional conflict capable of disrupting global energy supplies and one of the world’s busiest maritime trade routes.
US-Iran ceasefire under threat as fresh strikes rock Middle East
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International
UN Halts Strait of Hormuz Evacuation After Iran-Linked Attack on Cargo Ship
UN Halts Strait of Hormuz Evacuation After Iran-Linked Attack on Cargo Ship
- International Maritime Organization suspends rescue mission following projectile strike on Singapore-flagged vessel; US officials blame Tehran as fragile peace deal faces renewed strain
The UN’s International Maritime Organization (IMO) has paused its emergency evacuation of more than 11,000 sailors stranded in the Strait of Hormuz after a cargo ship passing through the strategic waterway was attacked on Thursday, dealing a blow to a fragile US-Iran interim peace deal. The British maritime security agency UKMTO reported that a vessel was struck approximately 7.5 nautical miles southeast of Oman’s port of Dahit by “an unknown projectile,” sustaining damage to its bridge. No casualties were reported, and the ship continued through the strait without requiring assistance. The vessel was identified as the Singapore-flagged container ship Ever Lovely, which had been stranded in the Persian Gulf for over 100 days before attempting its departure. Maritime risk management firm Vanguard confirmed the ship continued its journey and successfully exited on the eastern side of the strait at approximately 15:30 local time. Evergreen Shipping, the vessel’s operator, issued a statement confirming that the Ever Lovely sustained damage to the wheelhouse and bridge windows but reported the ship, crew, and cargo were all safe, with the main engine and navigation systems functioning normally. According to ship-tracking website MarineTraffic, the vessel entered the strait using the southern route on Thursday morning and exited on the east side.
Two US officials told Reuters and CNN that Iran was responsible for the attack, with a security source suggesting the vessel was likely targeted by a drone. Iran has not claimed responsibility for the incident. The attack came hours after Iran’s Islamic Revolutionary Guard Corps (IRGC) issued a stark warning requiring ships to travel only along designated routes and coordinate with Iranian authorities when passing through the Strait of Hormuz. Iran’s Persian Gulf Strait Authority (PGSA) posted on X that vessels traveling outside designated routes would not be guaranteed safe passage. The authority also warned that “any consequences arising from the use of unauthorised routes shall be the responsibility of the vessel’s owner, operator and master.”
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IMO Secretary-General Arsenio Dominguez announced the suspension in a statement on Thursday, emphasizing that safety remains paramount. Dominguez stated that following the launch of the IMO’s evacuation plan, through which several vessels have already been successfully evacuated, he had decided to temporarily pause its implementation in order to reconfirm that the necessary safety guarantees continue to be in place for the ships on the evacuation list and all those in the region. He noted that the Ever Lovely did not transit under the IMO’s evacuation framework at the time of the attack. He also highlighted that Thursday marked the Day of the Seafarer, stressing the need to ensure that thousands of stranded mariners do not become “collateral victims in this geopolitical conflict.” Dominguez reiterated that he has always emphasized that the safety of the seafarers remains paramount, and therefore, to ensure a coordinated approach and navigational safety, the evacuation plan would be paused until further clarity is obtained.
Hundreds of ships and thousands of sailors have been stranded in the Gulf since February due to the US-Israel war against Iran. The UN evacuation effort was only announced on Tuesday, June 23, following the reopening of the strait after a US-Iran interim agreement. Dominguez described the initiative as a “large-scale operation” with cooperation from Iran, Oman, the US, other coastal states in the region, and the maritime industry. The program offered ships two voluntary routes to leave the Gulf: one via Iranian waters and another through Omani waters with US oversight. Before the suspension, the IMO reported that 57 vessels with approximately 1,100 crew members had successfully left the Strait of Hormuz between June 23 and the early hours of June 25.
Last week, the US and Iran signed a Memorandum of Understanding (MOU) to end hostilities and reopen the strait, which included a commitment from Iran to use its “best efforts for the safe passage of commercial vessels with no charge for 60 days.” President Donald Trump warned earlier this month that if Iran did not honor the agreement, the US would “probably go back to bombing the country again.” Despite the agreement, Tehran has repeatedly signaled it plans to assert control over the waterway and charge what it calls maritime service fees for crossing, which the US has fiercely opposed. US Secretary of State Marco Rubio, currently on a tour of Gulf states to reassure partners about the interim pact, warned that if Iran threatened or blocked ships in the strait, “then we’re going to have a problem.” Rubio emphasized that no country is allowed to impose tolls on the Strait of Hormuz, which he called “an international waterway.”
Following the attack, the IRGC ordered two Panama-flagged ships to change course, according to British maritime security company Ambrey. The IRGC also posted on its official Telegram channel that three vessels using the IMO-approved southern route were ordered to turn back. Maritime intelligence company Windward reported that a total of five ships reversed course following the incident. The IRGC stated that attempts to cross the strait along the IMO-designated routes were “unacceptable and extremely dangerous” and that all vessels should coordinate with Iranian authorities.
Benchmark oil prices rose 1.9% following the reported attack, with analysts warning the incident could delay the resumption of normal Gulf oil flows and refocus attention on Iran’s future control over the strategic waterway. Before the conflict, the Strait of Hormuz handled approximately one-fifth of the world’s daily oil and liquefied natural gas supplies. Data from maritime tracking firm Kpler showed that 70 ships passed through the strait on June 24, more than double the previous day’s count, indicating a tentative recovery in traffic following the interim agreement. However, earlier on Thursday, the price of oil briefly fell below $72.48 per barrel—the level it was at before the US and Israel launched attacks on Iran in February—before edging up to $73.23.
The IMO has indicated the evacuation plan will remain paused “until further clarity is obtained” regarding safety guarantees for ships in the region. The attack has raised renewed questions about the enforceability of the US-Iran interim agreement and the extent of Iran’s future control over the Strait of Hormuz. Secretary of State Marco Rubio, while acknowledging that the US wants a deal, emphasized that Washington seeks “a deal, not a deal at any price.” The international community will be watching closely to see whether the pause in evacuation operations proves temporary or signals a broader unraveling of the fragile peace agreement.
UN Halts Strait of Hormuz Evacuation After Iran-Linked Attack on Cargo Ship
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International
Venezuela earthquakes: Death toll hits 235 as rescuers race to save survivors from rubble
Venezuela earthquakes: Death toll hits 235 as rescuers race to save survivors from rubble
Rescue teams are battling against time to find survivors after two devastating Venezuela earthquakes struck near the capital, Caracas, killing at least 235 people, injuring more than 4,300, and leaving thousands displaced.
The twin earthquakes, which struck within seconds of each other on Wednesday evening, have flattened homes, hotels, office buildings and public infrastructure across Caracas, the coastal state of La Guaira, and several other northern regions. Emergency workers say the number of casualties is expected to rise as search operations continue in the hardest-hit communities.
According to the U.S. Geological Survey (USGS), the first earthquake measured 7.2 magnitude, followed just moments later by a stronger 7.5-magnitude tremor. Both quakes occurred at relatively shallow depths, significantly increasing the intensity of ground shaking and the scale of destruction.
Search-and-rescue teams, supported by soldiers, firefighters, police officers and volunteers, are combing through collapsed buildings using heavy machinery, rescue dogs and thermal imaging equipment in a race to locate survivors trapped beneath the debris.
Across Caracas and La Guaira, families gathered outside destroyed residential buildings and hospitals anxiously awaiting news of missing relatives. Authorities said rescue operations would continue around the clock despite repeated aftershocks.
Officials estimate that about 250 buildings have either collapsed or sustained severe structural damage, including residential apartments, hotels, hospitals, schools and government facilities.
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Venezuela’s interim President Delcy Rodríguez has declared a nationwide state of emergency, mobilising the military and emergency agencies to coordinate rescue efforts and humanitarian assistance.
Thousands of residents who lost their homes have been moved into temporary shelters, while schools, sports centres and public buildings have been converted into emergency accommodation.
Authorities also confirmed that more than 30 aftershocks have been recorded since the initial earthquakes, forcing many residents to remain outdoors for fear of further building collapses.
The powerful earthquakes caused widespread disruption to essential services, damaging roads, bridges, electricity networks, water systems and telecommunications infrastructure.
Operations at Simón Bolívar International Airport in Maiquetía were temporarily suspended after parts of the terminal sustained structural damage. Several roads linking Caracas to surrounding communities were also affected, slowing rescue operations.
Hospitals across the capital continue treating thousands of injured victims, with emergency medical teams working under pressure to cope with the rising number of casualties.
Scenes of grief unfolded across the affected areas as families searched hospitals, emergency shelters and collapsed buildings for missing relatives.
Medical student Juan Ortiz said one of his close friends had been confirmed dead, while another remained trapped beneath the rubble.
“I’m in shock and confusion, and frustrated that I can’t help,” he said.
Authorities have urged residents to avoid damaged buildings and cooperate with emergency officials as rescue efforts continue.
Several countries have pledged support for Venezuela’s emergency response.
The United States announced an initial $150 million humanitarian assistance package and deployed military transport aircraft, specialist search-and-rescue teams, medical personnel and emergency supplies.
Emergency assistance has also been offered by Mexico, Colombia, El Salvador, the Dominican Republic, Qatar, and several international humanitarian organisations.
Technology company SpaceX has also activated Starlink satellite internet services to help restore communications in disaster-hit areas where mobile and internet networks have failed.
The USGS warned that the humanitarian crisis could worsen considerably.
Its earthquake impact assessment indicates there is a 42 per cent probability that fatalities could exceed 10,000, while there is a 33 per cent chance the disaster could ultimately affect more than 100,000 people, based on historical earthquake data, population density and the severity of the tremors.
Officials stressed that the estimates are intended to guide emergency response planning and do not represent confirmed casualty forecasts.
Experts say the earthquakes were triggered by movement along the boundary between the Caribbean and South American tectonic plates.
The 7.5-magnitude earthquake is believed to be the strongest recorded in Venezuela since 1900, making it one of the country’s worst natural disasters in modern history.
Authorities say their immediate priorities remain rescuing survivors, providing emergency medical treatment, restoring essential services and delivering humanitarian assistance to thousands of displaced families.
Venezuela earthquakes: Death toll hits 235 as rescuers race to save survivors from rubble
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