live U.S., Iran reach preliminary peace deal, Friday signing expected
U.S. and Iranian officials said they had agreed on a framework to end their war, halt the U.S. blockade of Iran and reopen the Strait of Hormuz, a pre...
Trade between Colombia and Ecuador has fallen sharply after new tariffs were imposed, with business groups warning of mounting damage to the cross-border economy.
Ecuador’s President Daniel Noboa imposed a 100% tariff on Colombian imports from 1 May, although the government has not specified which products are affected. Colombia responded by imposing tariffs ranging from 35% to 75% on about 190 Ecuadorian goods.
Transport and business representatives on both sides of the border say the measures have significantly reduced commercial activity. Carlos Bastidas, head of the Carchi Heavy Transport Association, said the dispute had escalated gradually and was driven by what he described as “ego and stubbornness” from both governments.
He said the once-busy border region had suffered social harm as imports and exports declined, warning the situation was leading to job losses and encouraging smuggling as people look for ways to support their families.
Truck traffic at the Rumichaca border crossing has dropped from around 150 vehicles a day to just a handful, according to Ecuadorian transport groups. Iván Flórez, president of the Ipiales Chamber of Commerce, said exports had been “practically shut down”, with only a few trucks passing through, mostly in transit to or from Peru.
He described the situation as suffocating for border communities, which depend heavily on cross-border trade, adding that appeals had been made to both governments and the Andean Community of Nations to intervene.
President Noboa has defended the tariffs, saying they were introduced in response to a trade deficit with Colombia and what he described as inadequate action against drug trafficking along the border. Colombia has rejected those claims.
Ecuador says the measures have improved its trade balance with Colombia for the first time, while Colombian officials say exports have almost ground to a halt. Colombia has also suspended electricity sales to Ecuador, which relies on its neighbour for imports, including medicines and pesticides.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
U.S. and Iranian officials said they had agreed on a framework to end their war, halt the U.S. blockade of Iran and reopen the Strait of Hormuz, a preliminary pact that sent oil prices falling but leaves the fate of Iran's nuclear program to further negotiations.
Switzerland on Sunday rejected a referendum proposal to cap its population at 10 million, a projection showed, as voters prioritised economic stability and the country's ties with the European Union over immigration concerns.
U.S. President Donald Trump has threatened to impose 100% tariffs on French wine and champagne unless France removes its digital services tax on major American technology companies.
The Court of Appeal in London ruled on Monday (15 June) that the government's decision to ban pro-Palestinian campaign group Palestine Action as a terrorist organisation was lawful, handing ministers a victory in a closely watched legal battle over protest rights and national security.
Leaders of the world's leading industrialised democracies are gathering in the French resort town of Evian-les-Bains for the latest Group of Seven (G7) summit on Monday, with the wars in Ukraine and Iran, economic tensions and artificial intelligence expected to dominate discussions.
The UK has become the latest country to annouce a social media ban for children under 16. British Prime Minister Keir Starmer made the announcement on Monday, adding that he will impose restrictions on gaming and livestreaming platforms as well.
The stepson of Norway's Crown Prince Haakon has been found guilty of two counts of rape as well as domestic violence and other crimes and is sentenced to four years in prison, an Oslo court ruled on Monday.
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