Dozens of vessels including Chinese-owned have passed through the Strait of Hormuz under Iran’s “management protocols”, the Revolutionary Guard says, as Presidents Donald Trump and Xi Jinping discuss the crucial waterway.
Iran’s Foreign Minister Araghchi has denounced the US and Israel for “expansionism and warmongering” saying instability in the Middle East is a “lose-lose proposition for all sides – including the aggressors”.
While Trump is meeting with Xi, Iran has stepped up to play the game by allowing Chinese vessels to pass through the forbidden strait.
Trump is in Beijing as he seeks to boost trade ties with China, despite growing geopolitical tensions over Taiwan and Iran. Meanwhile, China’s top diplomat has urged Pakistan to step up mediation efforts between Iran and the United States, including facilitating discussions on the possible reopening of the Strait of Hormuz. Crude oil prices slipped on Wednesday, snapping a three-day rally as markets reacted to developments around a fragile US-Israel ceasefire in the Iran conflict. Follow our live coverage for the latest updates:
Israel intensified strikes on Lebanon on Wednesday with the health ministry reporting 12 people killed in attacks targeting cars, mostly south of Beirut, despite a ceasefire between Israel and Hezbollah.
The fresh raids, which also targeted various areas of the country’s south, came on the eve of a new round of direct negotiations between Lebanon and Israel in Washington brokered by the United States, as Hezbollah remains strongly opposed to the move.
Lebanon’s health ministry said three strikes on cars along or near the coastal highway around 20 to 30 kilometres (12-19 miles) from capital Beirut “resulted in eight martyrs, including two children”.
Strong US economy’s resilience to shocks tested by Iran war
If you look at the numbers, the United States economy seems to be doing surprisingly well despite massive successive shocks from the pandemic, Ukraine war, tariffs, and now the Iran war energy crunch – but economists warn that resilience is precarious.
GDP growth came in at a robust 2.0 per cent last quarter, unemployment is steady, the stock market is booming, and inflation – while high – is nowhere near its pandemic peak.
US President Donald Trump has pointed to these figures as proof his economic policies, including upending the international trade order with tariffs, are working.
“The economy is resilient, but it’s also kind of precariously perched,” said Mark Zandi, chief economist at Moody’s Analytics.
He pointed to concerns about job growth, often used as a proxy for economic activity.
While unemployment has remained steady, job growth has see-sawed wildly between expansion and contraction in the last year, with new jobs heavily reliant on a single sector: health care.
Trump says he doesn’t think about Americans’ finances during Iran talks
US President Donald Trump says he doesn’t think about Americans’ finances during Iran talks.
“I think about one thing — we cannot let Iran have a nuclear weapon. That’s all,” Trump was quoted as saying by AFP US President Donald Trump is due to arrive in Beijing as he seeks to boost trade ties with China, despite growing geopolitical tensions over Taiwan and Iran. Meanwhile, China’s top diplomat has urged Pakistan to step up mediation efforts between Iran and the United States, including facilitating discussions on the possible reopening of the Strait of Hormuz. Crude oil prices slipped on Wednesday, snapping a three-day rally as markets reacted to developments around a fragile US-Israel ceasefire in the Iran conflict.
