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Europe to suspend approval of US tariffs deal
The European Parliament is preparing to temporarily suspend its approval process for the US tariffs agreement reached in July, according to sources familiar with discussions within its international trade committee.
The expected announcement, scheduled for Wednesday in Strasbourg, France, would signal a further intensification of transatlantic negotiations at a time when political and economic sensitivities are running high. While the move introduces uncertainty, European officials have framed it as a procedural step that keeps dialogue open rather than closing the door on cooperation.
The development comes against the backdrop of renewed political friction, as US President Donald Trump has escalated rhetoric over Greenland, warning over the weekend that additional tariffs could follow if US interests are not addressed. Despite the sharper tone, European diplomats continue to emphasise that engagement remains the preferred path forward.
Global financial markets have responded cautiously, reflecting heightened awareness of the potential for renewed trade disputes, but also the expectation that both sides have incentives to avoid a prolonged confrontation. European stock markets recorded a second consecutive day of declines on Tuesday, while US equities also eased. The Dow Jones Industrial Average fell 1.3% in midday trading, the S&P 500 slipped 1.5%, and the Nasdaq was down 1.7%.
Currency markets mirrored the shift in sentiment. The US dollar weakened notably, allowing the euro to rise 0.7% to $1.1731, while sterling gained 0.2% to trade at $1.346. Analysts noted that such movements often reflect short-term reassessments rather than long-term expectations.
Bond markets also saw increased activity, with borrowing costs rising globally as investors adjusted positions. Yields on 30-year government bonds climbed in major economies including the United States, the United Kingdom and Germany, marking the most significant sell-off in long-term debt for several months.
Until recently, trade relations between Washington and Brussels had shown signs of stabilisation following the July agreement reached at President Trump’s Turnberry golf course in Scotland. Under that deal, US tariffs on European goods were set at 15%, a notable reduction from the 30% initially threatened during April’s “Liberation Day” tariff announcements.
In return, the European Union committed to increased investment in the United States and to regulatory and structural adjustments within Europe aimed at supporting stronger US export growth. Officials on both sides had presented the arrangement as a balanced compromise designed to restore predictability to transatlantic trade.
News
Deadly Blast at Fireworks Factory in China’s Hunan Province Kills 26
An explosion at a fireworks factory in southern China has killed 26 people and injured 61 others, according to state media, in one of the deadliest industrial accidents in the region in recent years.
The blast occurred on Monday afternoon at the Huasheng Fireworks plant in Liuyang, a major hub for China’s fireworks industry. Authorities launched a large-scale emergency response, deploying more than 1,500 rescue personnel along with dogs, drones and robotic equipment.
Rescue operations have now concluded, with seven people successfully pulled from the debris. Officials had earlier evacuated residents within a 3km (1.9 mile) radius of the site due to safety concerns.
According to state broadcaster China Central Television, two gunpowder warehouses within the factory posed a significant risk during the rescue effort, prompting additional precautions. Emergency teams reportedly humidified the area to reduce the chance of secondary explosions.
The force of the blast caused extensive damage, shattering windows in nearby residential buildings and scattering debris across the surrounding area. Injured victims, ranging in age from their 20s to 60s, suffered a variety of wounds, including fractures caused by flying debris.
Authorities have begun an investigation into the cause of the explosion. Police have taken “control measures” against individuals responsible for managing the fireworks company, though further details have not been disclosed.
Xi Jinping has called for full efforts to locate any remaining victims and treat the injured, while also ordering a thorough investigation to ensure accountability.
Local officials said environmental monitoring of air and water quality around the site is ongoing, with initial assessments indicating that conditions remain within normal safety levels.
News
Second hantavirus case confirmed after deaths on Atlantic Cruise Ship
A second confirmed case of Hantavirus has emerged following the deaths of three passengers and a serious illness onboard a cruise ship crossing the Atlantic Ocean.
The vessel, the MV Hondius operated by Oceanwide Expeditions, is currently anchored near Cape Verde after local authorities barred passengers from disembarking over safety concerns.
A Dutch husband and wife and a German passenger have died. The Dutch woman tested positive for hantavirus, while the cause of death for the other two victims remains under investigation.
The virus has also been confirmed in a 69-year-old British passenger, who was evacuated to a hospital in Johannesburg, South Africa, where they are receiving intensive care.
In addition, two crew members—one British and one Dutch—are suspected cases, along with a close contact of the German passenger. Plans are underway to evacuate them for further medical assessment.
The ship, carrying 149 passengers from 23 countries, has been placed under strict precautionary measures, including isolation protocols and enhanced hygiene controls. It has been at sea for over a month, having departed from Argentina and travelled more than 6,000 miles.
Hantavirus is typically transmitted to humans through contact with infected rodents, particularly via their urine, saliva or droppings. It can lead to severe respiratory illness, though human-to-human transmission is considered extremely rare.
The World Health Organization is now involved in coordinating the response. Dr Maria Van Kerkhove said discussions are ongoing with Spanish authorities to potentially allow the ship to continue to the Canary Islands, where a comprehensive risk assessment could be carried out.
Possible docking locations include Las Palmas or Tenerife, where passengers could undergo further medical screening before disembarkation.
Van Kerkhove said the WHO’s immediate priority is ensuring proper treatment for those currently showing symptoms, particularly the crew members still onboard.
News
Trump Voices Fresh Frustration With Iran as War Powers Deadline Draws Near
Donald Trump has again expressed dissatisfaction with Iran as legal and political pressure grows over the administration’s military involvement alongside Israel and a key congressional deadline approaches.
Speaking to reporters on Friday, Trump said recent talks with Iran had not yet produced the progress he wanted.
“We just had a conversation with Iran. Let’s see what happens. But, I would say that I am not happy,” he said.
Friday marked the 60th day since Trump formally notified Congress of military strikes against Iran on 2 March. Under the U.S. War Powers Resolution, a president must terminate the use of U.S. armed forces within 60 days of such notification unless Congress grants formal approval or authorises an extension.
The law, passed in 1973 during the Vietnam War era to limit presidential war-making powers under former President Richard Nixon, remains central to the legal debate now facing the White House.
Pete Hegseth defended the administration’s position during Senate questioning, arguing that the ongoing ceasefire between Iran and Israel effectively pauses the legal clock.
“We are in a ceasefire right now, which our understanding means the 60-day clock pauses or stops in a ceasefire,” Hegseth said.
However, Democratic Senator Tim Kaine challenged that interpretation, warning that the administration may be approaching a significant legal confrontation.
“I do not believe the statute would support that. I think the 60 days runs maybe tomorrow, and it’s going to pose a really important legal question for the administration there,” Kaine responded.
A senior administration official insisted that hostilities had “terminated,” stressing that a ceasefire has been in place since early April. Despite the pause in direct conflict, no long-term diplomatic agreement has yet been secured.
Iranian state media, including IRNA, reported on Friday that Tehran had sent a new proposal for negotiations to U.S. officials through intermediaries in Pakistan. Details of the proposal were not made public, and it remains unclear whether Washington has formally received it.
Trump said one reason negotiations have been difficult is that Iran’s leadership remains destabilised following the deaths of several top military commanders during the conflict.
He also revealed that he had been presented with sharply different strategic options by U.S. Central Command, ranging from a major military escalation to a negotiated diplomatic settlement.
“I was briefed with options… from ‘blast the hell out of them and finish them forever’ to ‘make a deal,’” Trump said.
Global markets have been closely watching developments, particularly after Iran’s closure of the Strait of Hormuz caused major disruptions to international oil supply routes. Although oil prices eased slightly following reports of Tehran’s latest proposal, the vital waterway remains effectively closed, continuing to generate significant economic concerns worldwide.
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