Tariff fears cloud global factory outlook despite bright spots in Asia and Europe
Concerns over new U.S. tariffs under President Donald Trump are weighing on global manufacturing, though June data show signs of resilience in countri...
President Donald Trump has officially launched the $175 billion Golden Dome missile defense shield, a sweeping new program aimed at countering threats from China and Russia using advanced satellite technology.
At a White House press conference Tuesday, Trump revealed that U.S. Space Force General Michael Guetlein will oversee the ambitious project, which he described as a top priority for U.S. defense.
“Golden Dome will protect our homeland,” Trump said, adding that Canada had expressed interest in joining. The office of Canadian Prime Minister Mark Carney did not immediately respond.
First initiated by Trump in January, the plan centers on deploying hundreds of satellites capable of tracking and potentially intercepting missiles in real time. Modeled after Israel’s Iron Dome, Trump’s version is far more expansive — combining surveillance satellites with a separate system of offensive satellites that would target missiles just after launch.
The announcement marks the official start of the Pentagon’s push to acquire the technology, which will include missiles, sensors, systems and spacecraft from U.S. defense contractors. Trump said the project is expected to be completed before the end of his term in January 2029, with major operations based in Alaska, Florida, Georgia and Indiana.
Companies named at the briefing included L3Harris, Lockheed Martin and RTX Corp, as well as SpaceX, which has come under scrutiny due to its ties to Trump ally Elon Musk.
Democratic lawmakers have already raised concerns over the procurement process and transparency, particularly around private contractors like Palantir and Anduril, who are also competing for key roles.
Funding remains uncertain. While Republicans have proposed $25 billion in initial funding through a broader $150 billion defense bill, that money is locked in a contentious reconciliation package that faces tough negotiations in Congress.
“Unless reconciliation passes, the funds for Golden Dome may not materialize,” one industry insider said, warning the program’s timeline is now in question.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
Concerns over new U.S. tariffs under President Donald Trump are weighing on global manufacturing, though June data show signs of resilience in countries like Japan, China, and Ireland.
Ukrainian President Volodymyr Zelenskyy spoke with Azerbaijani President Ilham Aliyev on July 1 to offer condolences, express gratitude for regional support, and reaffirm mutual commitment to sovereignty and bilateral cooperation.
The U.S. Department of Justice and FBI on Monday announced an arrest and indictments related to North Korea’s 'IT worker' program, through which North Koreans secured remote tech jobs at more than a 100 U.S. companies to steal money and data globally.
A senior figure in Russia’s defence establishment, Timur Ivanov, has been sentenced to 13 years in prison after being found guilty of corruption, amid an escalating crackdown on high-level misconduct.
As the Dalai Lama turns 90, the question of his successor is drawing global attention — not just spiritually, but a deeply political one for China, India, and the U.S.
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