Oil prices surge following U.S. blockade of sanctioned Venezuelan oil tankers
International oil prices rose sharply on Wednesday after U.S. President Donald Trump ordered a “total and complete blockade” of all U.S.-sanctione...
U.S. President Donald Trump has signed an executive order pushing back the implementation date for his proposed “reciprocal” tariffs to 1 August, according to The White House.
The implementation of new trade measures, originally set for 9 July, has been postponed. The White House said this extension allows affected countries more time to respond before tariffs take effect.
In an executive order published by The White House, President Trump extended the suspension outlined in Executive Order 14266 until 12:01 a.m. eastern daylight time on 1 August 2025.
“I have determined, based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners, that it is necessary and appropriate to extend the suspension effectuated by Executive Order 14266 until 12:01 a.m. eastern daylight time on August 1, 2025,” Trump said.
The order also confirmed that a separate tariff suspension on China, under Executive Order 14298 from 12 May, remains unchanged.
On Monday, Trump posted letters on Truth Social addressed to world leaders, notifying them of tariffs ranging from 25% to 40%. Countries include South Africa, Malaysia, Thailand, Indonesia, and others.
The most significant letters were sent to Japan and South Korea, each informed of 25% tariffs on all exports to the U.S. Trump noted these rates could be adjusted based on each country’s response and the state of bilateral relations.
This action is part of Trump’s wider plan to rebalance trade with key partners, targeting nations that apply lower tariffs to U.S. goods than those imposed on their own exports, with the aim of correcting these imbalances.
Cambodia must be the first to declare a ceasefire in the ongoing border conflict, Thailand said on Tuesday (16 December), as fighting continued despite earlier claims that hostilities would stop and at least 52 people have been killed on both sides.
The latest clashes between Thailand and Cambodia mark a dangerous escalation in one of Southeast Asia’s oldest and most sensitive disputes.
In the complex world of international diplomacy, the ongoing tensions between India and Pakistan have raised significant questions about the role of third-party mediation.
President of the Republic of Azerbaijan Ilham Aliyev is visiting the United Arab Emirates at the invitation of President Sheikh Mohamed bin Zayed Al Nahyan on Wednesday, 17 December, as the two countries seek to further strengthen their partnership.
Citizens from an additional seven countries, including Syria, are being banned from travelling to the U.S. from the 1st of January next year. President Donald Trump made the annoucement on Tuesday (16 December) now has a total of 39 countries banned from entering the States.
International oil prices rose sharply on Wednesday after U.S. President Donald Trump ordered a “total and complete blockade” of all U.S.-sanctioned oil tankers entering and leaving Venezuela.
Ukrainian President Volodymyr Zelenskyy is calling on European Union leaders at a summit in Brussels to approve the use of billions of euros from frozen Russian assets to support Ukraine’s military and economic needs.
Brazil’s Senate has approved a bill that could sharply reduce the prison sentence of former president Jair Bolsonaro, a move that is expected to face strong opposition from President Luiz Inácio Lula da Silva and the Supreme Court.
Prime Minister Benjamin Netanyahu has greenlit a landmark energy agreement that will see Israel export natural gas valued at approximately $35 billion to Egypt.
A sweeping $901 billion defence policy bill has been approved by the U.S. Senate on Wednesday, clearing the way for President Donald Trump to sign it into law.
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