Economy

For more than a decade, governments got used to cheap borrowing. That era may now be ending.

Government bond markets are flashing warnings around the world.

Across major economies, yields – the interest rates governments pay to borrow – are climbing to levels not seen in years and, in some cases, decades.

Investors are pricing in more risk before they’ll lend to governments already carrying heavy debt loads.

Inflation remains stubborn, geopolitical tensions are adding pressure, and central banks may have to keep interest rates higher for longer.

Those higher borrowing costs are pushing up what banks charge companies and homeowners.

The United Kingdom has announced a ban on the import of all goods produced in illegal Israeli settlements in the occupied West Bank, Foreign Secretary Ed Miliband said in Parliament on Tuesday.

It comes in response to an intensifying wave of Israeli settler pogroms and settlement expansions in the occupied West Bank and East Jerusalem.

The ban, set to come into effect within six to nine months, would target settlement exports such as dates, olive oil and agricultural products, with Miliband saying he did not believe “the British people want us supporting the occupation by accepting products from settlements in our shops”.

The International Court of Justice in July 2024 called Israel’s occupation of Palestinian territory “unlawful”. Months later, the United Nations passed a resolution calling for an end to the Israeli occupation within a year.

Israel’s response was furious, as it announced four “counter-measures”, including banning 12 British MPs from entering Israel and closing the British consulate in Jerusalem.

After Miliband’s speech, 11 more countries: Canada, Denmark, Finland, France, Iceland, Ireland, Norway, Poland, Portugal, Spain and Sweden, shared a joint statement supporting the so-called two-state solution and announcing their own intentions to impose restrictions on trade with illegal Israeli settlements.

Spain and Ireland had already announced their own national bans earlier this year, alongside the Netherlands and Belgium.

How much do these countries trade with Israel?

Aside from Canada and the UK, the rest of the countries considering or already banning settlement goods are European Union members.

The EU is Israel’s largest trading partner, accounting for 31.7 percent of Israel’s total trade in goods in 2025 (43.3 billion euros, or $50.4bn), according to the European Commission. The EU supplied 33.1 percent of Israel’s imports (28 billion euros, or $32.6bn) and received 29.4 percent of Israel’s exports (15.3 billion euros or $17.8bn).

Israel is the EU’s 27th largest trade partner, with Ireland, the Netherlands and Germany being its biggest individual trade partners.

According to a 2026 report by Global Echo Litigation Center, a Palestinian rights legal advocacy group, roughly 5,900 shipments from Israel were headed to Europe, with more than 17 percent containing products originating from settlements.

While no specific figures for settlement trade alone are known, it is understood to be a tiny fraction of total EU-Israel trade, meaning the ban’s impact is much more symbolic than economic.

The table below shows each country’s total trade with Israel for the European countries that have banned, or are introducing bans on, illegal Israeli settlement goods.

The top five European trading partners with Israel either enforcing or set to introduce settlement bans are Ireland, the Netherlands, the UK, France and Spain.

Ireland

Ireland-Israel bilateral trade totalled $5.36bn in 2025. Ireland is Israel’s second-largest export market for goods after the United States, driven largely by tech, particularly semiconductors and integrated circuits.

The Netherlands

Netherlands-Israel bilateral trade totalled roughly $4.8bn in 2025. The Netherlands is also Israel’s largest single foreign investor, accounting for roughly two-thirds of all EU investment in the country.

United Kingdom

According to UN Comtrade, UK-Israel bilateral trade totalled $3.73bn in 2025. An Al Jazeera investigation found at least 17 companies linked to illegal Israeli settlements hold more than 2.1 billion pounds ($2.85bn) in UK public-sector contracts.

France

France-Israel bilateral trade totalled $3.62bn in 2025. A large part of France’s trade with Israel constitutes export licences for surveillance and military technologies.

Spain

Spain-Israel bilateral trade totalled $2.79bn in 2025. In September that year, Spain banned the import of goods from illegal Israeli settlements in the occupied Palestinian territory, as well as the trade of arms.

What are Israeli settlements?

Israeli settlements are Jewish-only communities built illegally on Palestinian land.

Settlements are illegal under international law as they violate the Fourth Geneva Convention, which bans an occupying power from transferring its population to the area it occupies.

Illegal Israeli settlements continue to grow, decades after the 1993 Oslo Accords, which established limited Palestinian self-rule and were meant to lead to a permanent peace settlement.

At the time, about 270,000 settlers lived across the occupied territory. Today, that figure has more than doubled to between 600,000 and 750,000 people, about 10 percent of Israel’s Jewish population, living across some 250 illegal settlements in the occupied West Bank and East Jerusalem.

London, United Kingdom – In a wheat field near High Wycombe in the rolling English countryside, Alex Nelms watched the harvest on his farm die in a matter of days.

His crop had looked strong until the first heatwave came in May, when temperatures surpassed 35 degrees Celsius (95 degrees Fahrenheit) just as his milling wheat entered its grain-fill phase, the critical weeks when the plant fattens its kernels.

“It just killed everything stone dead,” he told Al Jazeera. “Everything was finished really early, and when we were sort of full of optimism and hope, it was scuppered almost overnight.”

Nelms farms just over 2,000 acres (809 hectares) of arable land in south Buckinghamshire, on a business his grandparents founded in 1955. His uncle, who has worked the farm for more than 40 years, has just suffered the worst harvest of his career.

Last month, the Department for Environment, Food and Rural Affairs (Defra) said almost three-quarters of England, 71.3 percent, remained in drought. Rainfall in August reached just 34 percent of what would normally be expected by that point in the month, Defra said, and reservoir levels were 18.2 percentage points below where they should be for the time of year.

“We’re totally reliant on Mother Nature,” Nelms said, and nature did not deliver this year.

After a historically dry spring and a run of summer heatwaves, the farm is down roughly 1,000 tonnes on its average harvest, a shortfall of some $270,000 in revenue.

The farm, tucked in the Chiltern Hills, a steep, long ridge of white limestone rock, has no irrigation and never will.

“That has serious knock-on effects on our cash flow,” he said. A third consecutive difficult year would mean hard conversations with his bank and landlord, and farming to minimise risk rather than maximise output, “consequently, probably producing less food”.

‘Financial crisis point’

The National Farmers’ Union (NFU) says farmers are at a “financial crisis point” after the worst drought in 50 years, with historically low harvests, stunted grass growth, rising fuel and fertiliser costs, and a severe outbreak of bluetongue disease in livestock.

The union puts the gross production value loss of wheat at approximately $499m and the cost of replacing a shortfall in forage at roughly $45m.

NFU president Tom Bradshaw has said farmers now lack “breathing space” and are “increasingly exposed to geopolitical shocks, as well as repeated weather extremes, animal disease and global wars”.

He believes action is needed now to ensure the future of British farming “and enable the next generation to keep producing the nation’s food”.

To manage the risk, Nelms is diversifying, planting oilseed rape again on about 350 acres (142 hectares) for the first time in 20 years. He says that the crop’s usual insecticide protection, neonicotinoid seed treatments, is now banned, leaving it exposed to cabbage stem flea beetle and to game birds that can “absolutely nibble, eat, and destroy a crop”.

Growing it also means breaking a continuous wheat rotation that has kept a soil-borne disease called “Take-all”.

Tax allowances would make investing in grain storage and diversified income worthwhile, he said, as well as government-backed bridging loans, modelled on COVID-era support, to survive a bad year without permanent damage.

It is the kind of relief the NFU is pressing the government to provide nationally.

The union wants an interest-free “Keep Britain Growing” loan tied to drought losses, help covering the cost of disposing of livestock lost to bluetongue, faster planning permission for on-farm reservoirs, and clearer rules letting farmers access water as soon as levels allow, echoing Nelms’s case for storage on his farm.

“Drought conditions will continue to worsen until we receive sustained rainfall across the country and we still all have a role to play in conserving precious water supplies,” according to Philip Duffy, the Environment Agency’s chief executive, in a statement shared by Defra.

The Environment Agency has applied for a drought order to restrict abstraction from the River Severn, and 10 water companies, serving 30 million customers, now have restrictions in place.

“A few days or even weeks of wetter weather cannot reverse the impacts of several months of exceptionally dry conditions,” added Duffy.

Defra noted that the first meaningful rains since June have fallen but they have been patchy, so reservoirs and groundwater are still declining even as a handful of rivers see brief upticks in flow.

Despite the losses, Nelms is hopeful about farmers pulling together – sharing labour, machinery and market routes. He points to the Central Chiltern Farmer Cluster, where growers meet to talk through their problems and find solutions together.

“We’re working together, not competing with each other,” he said.

For a farm like Nelms’s, with no irrigation and no water in reserve, that patchiness is the problem. Soil parched from months without rain needs to absorb sustained rainfall before groundwater can even begin to recharge, let alone refill the reservoirs a future harvest might depend on.

“Our climate has changed,” Water Minister Emma Hardy, who chairs the National Drought Group, said late last month, “and we will continue to take all action necessary.”

Tehran has threatened “serious consequences” for South Korea if it interferes in the US-Israel war on Iran.

The warning comes amid reports that Seoul is mulling contributing to the US naval blockade of the Strait of Hormuz passage, which has hampered Iran’s oil exports.

In a statement posted on X on Monday, Ministry of Foreign Affairs spokesman Esmaeil Baghaei said Iran and South Korea had more than 64 years of diplomatic relations based on mutual respect and that Tehran values that friendship.

However, if South Korea joins the United States in its military actions against Iran at a time when the country is defending itself from what he called US aggression and “war crimes against women and children”, then there will be consequences, he warned.

Baghaei threatened that Iran would regard any military presence or participation in operations by another country in the Gulf and the Strait of Hormuz “would inevitably be regarded as direct support for the aggressor and would have serious consequences”.

“No sovereign and responsible country should succumb to US pressure and intimidation and become complicit in acts of aggression and horrific crimes against the great Iranian nation,” he added.

Seoul did not respond directly, but a Ministry of Foreign Affairs statement on Monday said it is communicating with the international community over the situation in the passageway.

Here’s what we know about how South Korea is getting roped in:

Why is South Korea involved?

Seoul, a close ally of Washington, has been under pressure from US President Donald Trump.

The issues began in mid-August, when Trump revealed in an interview, and later online, that he had spoken to South Korean President Lee Jae Myung and asked that Seoul give “a little hand” in the war on Iran.

According to media reports, the two leaders had spoken over the phone on May 17.

Seoul said, “No, thanks!”, according to Trump’s message on social media.

However, as South Korea now knows, saying no to Trump has repercussions.

On August 16, Trump announced that the US would significantly scale back joint military drills it holds annually with South Korea – the evening before they were scheduled to begin.

The Ulchi Freedom Shield (UFS) exercises are meant to sharpen Seoul’s readiness in case of a North Korean attack. They usually last for more than 11 days but were reduced to five.

In a post on his Truth Social site, Trump claimed the drills were “costly” and that they send a “hostile” signal to North Korean leader Kim Jong Un, with whom he is trying to build a relationship. South Korean Foreign Minister Cho Hyun said in parliament there was no warning from the US.

Trump also questioned why South Korea would refuse his request when thousands of US soldiers are stationed on the Korean Peninsula.

The US also cancelled another military exercise scheduled for September, although South Korea’s military revealed it received a notification much earlier in June, with Washington citing constraints due to the war on Iran.

How has South Korea responded?

President Lee, a liberal who pushes for a dialled-down defence posture, has opted to negotiate. His office earlier released statements saying it hopes for “meaningful dialogue” with Trump.

South Korea’s Yonhap news agency reported on Monday that Washington has, however, “ratcheted up pressure” on Seoul.

On Friday, a South Korean presidential official told Yonhap that Seoul could consider a military contribution to international measures seeking to free up navigation in the passageway as long as it does not affect the country’s defence readiness.

South Korea is looking at various options, the official said, including possible cooperation with France, the United Kingdom and other allies on sending noncombat and search-and-rescue forces.

The South Korean military has also started reviewing assets and troops that could be deployed, including maritime patrol aircraft, explosive ordnance disposal teams and unmanned mine detection and clearing systems, he added.

Such a move would be unpopular. The opposition has spoken out against a possible deployment, as have some within Lee’s ruling Democratic Party. Many South Koreans have also protested against the US-Israel war on Iran.

What is the history of US-South Korea relations?

South Korea became one of the US’s closest allies after Washington backed Seoul against Pyongyang in the Korean War of 1950.

The US supported Seoul’s economic and military growth in the years after. Under a treaty, some 29,000 US soldiers have been stationed permanently on the Korean Peninsula since the end of the war. Seoul has also relied on US defence might to deter nuclear-armed North Korea.

In return, South Korea supported several US wars, including the Iraq War, and is designated an important non-NATO ally.

In 2025, however, Washington imposed a 25 percent tariff on the country, testing relations. Seoul opted to negotiate rather than retaliate, leading the US to lower tariffs to 15 percent.

Many South Koreans were also alarmed after hundreds of South Koreans were arrested in Immigration and Customs Enforcement (ICE) raids on a Hyundai plant in Georgia in September 2025.

Last October, Trump travelled to Seoul in a historic state visit, and earlier this year, President Lee visited the US. Lee is also trying to resume dialogue between Washington and Pyongyang.

How is South Korea being affected by the US-Israel war on Iran?

South Korea is facing an economic crisis. The country relies on the Gulf supplies via the Strait of Hormuz for 60 to 70 percent of crude imports, meaning supply is being severely hit. The war has led to soaring inflation, causing the Korean won to fall to a 17-year low.

Seoul therefore has an interest in freeing up the strait. However, under Korean law, the government will require parliament’s approval before a military deployment, although some governing party members could oppose it.

Trade tensions soar as Canada matches US tariffs ‘dollar-for-dollar’, impacting 700 products and multiple industries.

Canada’s retaliatory tariffs on imports from the United States have taken effect, escalating the trade dispute between the two countries.

Tariffs ranging from 15 percent to 50 percent will apply to nearly $20bn worth of US imports from 12:01am ET (04:01 GMT) on Tuesday, matching US-imposed levies on Canadian goods including machinery, textiles and consumer products.

The new retaliatory tariffs apply to products including steel, household appliances, agricultural equipment and dairy.

“Canada will match Washington’s new tariffs dollar for dollar in order to protect Canadian workers, farmers, families, and businesses,” Canadian Prime Minister Mark Carney told reporters in late August.

US President Donald Trump announced 50 percent tariffs against Canada in July, citing “discriminatory treatment” of US products. The announcement prompted the countries to enter trade talks in August, but a final deal failed to materialise before a deadline imposed by Trump.

“Canada wants the benefits of being a State, without being one!!!” Trump posted on Truth Social in response to Canada’s announcement in August.

The Canadian government said in a statement that the counter-tariffs will impact more than 700 products, adding that it would launch a $5.42bn support package for affected small and medium-sized businesses and workers.

On the eve of Ottawa imposing its tariffs, Trump threatened to block Canada-based aircraft manufacturer Bombardier from selling its planes in the US unless it began manufacturing them in the country.

The dispute has also extended beyond tariffs, with Trump signing an order last month renaming Lake Ontario “Lake America” for US federal use.

The retaliatory tariffs could place a financial burden on US automakers as Canada is the largest buyer of US-manufactured cars.

Americans could soon see increased prices on 550 consumer goods from Canada. According to a report from the Kiel Institute for the World Economy, US importers and consumers absorb 96 percent of the tariff burden.

Oil prices are rising to nearly a six-week high amid a wave of strikes between the United States and Iran in the Strait of Hormuz, through which roughly a fifth of the world’s oil supply travels during peacetime.

On Monday, Brent oil futures, the global benchmark, rose to hover around $97 a barrel — up 9 percent over the last five days and 19 percent over the last month. Monday’s market moves are approaching the highest point since July 24th, when prices topped $97.93.

US West Texas Intermediate crude similarly rose to $92.27 a barrel, up 79 cents, also a near six-week high.

In recent days, strikes escalated in the Strait of Hormuz. The US hit three Iranian oil tankers on Saturday, while Iran’s Islamic Revolutionary Guard Corps (IRGC) said it had struck three tankers and three US-linked vessels in other areas.

“This is a reflection of continued conflict and exchange of fire. The supply deficits globally are persisting, and there is little end to these shortages,” Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security (CNAS), told Al Jazeera.

On Monday, Saudi Aramco’s Jizan facilities were struck for the second time in the last month, according to reporting from the Financial Times that cited two people familiar with the matter.

“The fact that a Saudi refinery in Jizan was hit, possibly delaying its return to production, didn’t help,” Ziemba added.

Amid increased strikes, there’s less traffic in the Strait of Hormuz, with an average of 10 commodity ships crossing the vital chokepoint each day over the last 10 days, according to Kpler, a data analytics platform.

“Crude went back down to what the pre-war level was in early July. Then it increased again, and then it reduced again, and now it’s increasing again on this weekend’s exchange plus the Aramco attack,” Arif Gasilov, a partner at the Gasilov Group, an energy advisory firm, told Al Jazeera.

“I would say that you might eventually see an inflection point, depending on how long this keeps going on, where a ceasefire doesn’t move the market at all, maybe by just a dollar or two.”

US consumers pinched

US consumers are feeling the impact of heightened oil prices at the petrol pump. The average price for a gallon (3.78 litres) of petrol has jumped 7 cents over the course of a week, reaching $4.15 nationally on Monday, up from $4.08 this time a week ago, according to the American Automobile Association (AAA), which tracks daily petrol prices.

That’s up from $4.04 this time a month ago and $2.98 from February 28th, when the US and Israel first struck Iran, marking a 39 percent increase since the war began.

Last week, diesel prices hit all-time highs at $5.85 per gallon.

“US diesel prices have never been this high, and now the countdown starts for the trickle-down to everything consumers buy… record diesel will start funnelling down into the economy,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in a post on the social media platform X.

Prices have continued to climb since, with average prices on Monday topping $5.90 per gallon.

“Markets are pricing in longer disruptions. It continues to be in product markets where the biggest disruptions lie, though, including diesel,” Ziemba added.

Those price gains are weighing on Americans, who have spent an average of $764.59 per household on fuel since the war began. That’s $418.82 more than usual, according to Brown University’s Watson School of International and Public Affairs.

Ahead of the US’s September 5-7 Labor Day weekend, the unofficial end of summer and a popular time for US travel, AAA forecasts showed a 20 percent increase in flight costs compared to the same weekend last year.

Ahead of the midterm elections, the economy is emerging as a key issue for US voters — and a potential warning sign for Republicans. Polls show voters souring on President Donald Trump’s handling of the economy, with his economic approval rating falling to a new low in a recent Financial Times poll. Just 17 percent of Americans approve of his handling of the economy.

An Economist/YouGov poll similarly found that 39 percent of Americans believe Democrats are doing a better job handling the economy, compared with 32 percent who said Republicans are.

China pressures

Southeast and East Asian markets rely more heavily on imports travelling through the Strait of Hormuz directly than the US, but Beijing has moved to insulate itself from the disruption by turning to domestic sources, including its strategic petroleum reserve (SPR).

“China has been managing this situation successfully since the beginning of the war. We know that China has many domestic resources, despite rising oil prices,” John Gong, an economics professor at the University of International Business and Economics, told Al Jazeera.

“China has been conserving its oil and gas consumption for quite some time now. China was prepared for these challenges,” Gong said.

He also stressed that China’s close relations with Russia give Beijing another source of supply, with Moscow able to provide nearly half of China’s daily oil needs.

China has also begun tapping into its SPR while reducing its reliance on imports, as Beijing accelerates a broader shift towards alternative energy sources and vehicles that require little or no oil to operate.

“We have national strategies focused on transitioning to clean energies like solar and green power,” Gong said. “When we look at the vehicles purchased in China, more than 50 percent of cars sold on the Chinese market are electric.”

A few weeks ago, non-chavista politician Antonio Ecarri and American economist Steve Hanke managed to unearth one of Venezuela’s longstanding and unsettling debates: whether the country’s economy should be formally dollarized. After decades of economic hardship brought by repeated devaluations, hyperinflation and scarcity, the country’s monetary regime is heavily fragmented. 

De facto dollarization rules most of the transactions, while the bolívar, crypto stablecoins, euros and the currencies of neighboring countries split the rest of the monetary market share used to maneuver through Venezuela’s complex economy. With the US pushing for the country’s economic stabilization to increase trust in foreign investors, the fragmented monetary ecosystem can be detrimental to the process made so far.

Venezuela’s economic outlook has improved after Maduro’s capture and since the US took control over Delcy’s decisions. Mainly because of a sharp recovery of oil exports to the US recovered sharply; by April, these were up 192% from their 2025 average. The energy sector is spearheading the recovery while attempting to partially compensate for the devastation caused by the twin earthquakes. GDP growth projections for Venezuela are forecasted at 5.8%, almost four times the country’s 2025 growth (1.5%). Yet the threat of inflation and instability compounds investors’ worries about entering the country. After repeated announcements by the interim regime promising to close the exchange gap and tackle inflation, their actions show otherwise.

Delcy continues to erode the bolívar by stimulating the money printer needed to feed chavismo’s patronage system. Exchange rate controls, which have long incentivized corruption and inflation, are still there. On the dollar side, credit loans and transactions remain “officially” forbidden, creating an artificial tax on USD transactions and fear amongst businesses who can be punished for their use.

Eliminating inflation would require abolishing all existing exchange rates and creating a new one based on an agreed technocratic approach.

The result of this unaddressed monetary disaster has been a persistent rise in inflation, which increased by 6.1% in July, bringing year-on-year inflation to 576% and 2026 cumulative inflation to 175.5%.

This is not the first time the call for dollarization has been in the spotlight in Venezuela. Nonetheless, US control over the country’s economy may increase the possibility of it becoming a reality. While dollarizing might be an effective measure to rapidly generate trust and reduce inflation, it raises important questions about its implementation under the interim regime and the future of Venezuela’s monetary sovereignty. Similar to Trump’s oil deal or the post-earthquake reconstruction, all discussions and actions are taking place behind the scenes, sidelining the very population that will have to deal with its consequences. 

The US dollar is not the solution

Discussions regarding dollarization have primarily focused on three benefits: eliminating inflation, forcing fiscal discipline, and eradicating corruption. However, as long as those managing the dollarization process are the same ones who have guided Venezuela to the worst economic crisis in the region’s history, the result might be equally as bad but with a different set of consequences. 

Hanke asserts that no preexisting institutional, fiscal or political conditions are necessary for dollarization to be successful. However, this process requires the willingness of all three areas to move forward. Eliminating inflation would require abolishing all existing exchange rates and creating a new one based on an agreed technocratic approach. Currently, there is no incentive for anyone in the interim regime’s leadership to converge the exchange rates.

A struggling or failed dollarization plan could further erode trust while leaving the country even more vulnerable to external shocks.

The exchange rate differentials have not been an economic policy mistake overlooked by chavismo. These have been an integral part of chavismo’s strategy to undermine and replace old political elites with select, loyal ones. Long ago, they became crucial to maintain the status quo. There are no signs in favour of change in this area, as economist Juan Comella argued in May. Doing so would compromise the structure that keeps her in power.

A struggling or failed dollarization plan—which forces the government to take on further debt, experience severe cash shortages and fundamentally depend on its commodity exports—could further erode trust while leaving the country even more vulnerable to external shocks, such as a sudden plunge in oil prices. The neoliberal constraints posed by dollarization, like an extremely limited Central Bank to aid the government, will not fix decades of institutional erosion, but only try to avoid it while possibly unleashing a fresh round of obstacles that menace an already fragile economic recovery.

The bolívar is not the problem

Decades of monetary policy failures made the population skeptical of the bolívar. For long enough, the system and institutions have incentivised and even rewarded the wrong people to take advantage of its vulnerabilities at the expense of the population and evading any personal consequences.

It is certainly not the paper where the bolívar is printed the element that corrupts people or destroys the economy: it is the system behind it. It is not far-fetched to think of a plan that grants the Venezuelan Central Bank complete independence, empowering the correct people to safeguard the economy from the risks of inflation while maintaining government spending in line and preparing for external shocks.

Relinquishing our monetary sovereignty would be a mistake in a world where governments actively participate and spend to tackle modern challenges, including AI and natural disaster relief. China’s rise as a global power has been, in part, a consequence of decades of industrial policy under intense government intervention. The US and EU have started to catch up in recent years. The US has done so with the CHIPS and Inflation Reduction Act under Biden and, most recently, with the Trump administration imposing protectionist tariffs and taking equity stakes in major companies with the aim of safeguarding US interests in key sectors. The EU aims to increase competitiveness under the Clean Industrial Deal and the Industrial Accelerator Act. If Venezuelan leaders seek to move past the country’s commodity dependence, climb up in the global value chain, become competitive and diversify the economy, industrial policy will be crucial. Dollarization would compromise those goals.

Starting a dollarization process under chavista rule is similar to entrusting the reconstruction of Venezuela’s oil sector to a businessman who contributed to the destruction of the country’s electricity grid.

Foreign investment will be the driver of short- and medium-term recovery and growth for Venezuela. However, industrial policy will be crucial to guide the long-term objectives of the country. For this, Venezuela needs the bolívar, even if it’s in an open and competitive currency market where the people decide which currency earns their trust.

The Ecarri-Hanke duo surprised public opinion not only because of their proposal but also because of the odd pairing. Ecarri represents the efforts of Venezuelan politicians with limited legitimacy to enter the spheres of influence in Washington, and also chavismo’s ability to neutralize them. Hanke only views Venezuela as part of a larger plan to promote and deepen the use of the dollar internationally, in a global context that increasingly mistrusts the US currency and is hedging against it.

Ecarri is the result of a system that empowers the wrong people. Hanke represents the oversight of the reality on the ground and the impact Venezuelans will have to absorb. Both display the same shortcomings of Venezuela’s monetary institutions over the past decades. Their proposal simply tries to hide the sun with one finger instead of addressing the historical root causes of Venezuela’s monetary instability.

Starting a dollarization process under chavista rule is similar to entrusting the reconstruction of Venezuela’s oil sector to a businessman who contributed to the destruction of the country’s electricity grid. Policy should depart from both trauma-instilled calls for complete dollarization and a patriotic defense of the bolívar. Instead, it should focus on economic stability and our capacity to meet the challenges of tomorrow.

WASHINGTON — A sporadic global trade war led by President Trump is fueling inflation across the U.S. economy, elevating prices on everyday goods, as the war with Iran sends the price of gas on a roller coaster.

Aggressive tax cuts have pushed the national debt past $40 trillion, driving a growing crisis in the bond market. And an unprecedented immigration crackdown is disrupting the labor supply in agriculture, construction, hospitality and food processing, raising prices even further.

Approaching the halfway point of Trump’s second term, a president who won reelection based on a promise to turn the economy around now faces a reckoning in the midterm elections centered largely on his economic record.

Trump’s economic agenda has emerged as an increasingly awkward liability for Republicans heading into the November elections, leaving lawmakers to defend policies that have delivered political pain at home, even as the White House argues they will pay off in the long run.

Polling on Trump’s handling of the economy has remained in precariously low territory throughout the summer, entering Labor Day weekend with less than a third of Americans supporting his job performance on their most pressing concerns. One recent poll, from the University of Massachusetts Amherst, found that only 22% perceive the economy in a good or fair state.

Shoppers at Lincoln Heights Certified Farmers Market in Los Angeles on Wednesday.

(Jason Armond / Los Angeles Times)

And Americans’ confidence in the economy is unlikely to improve much ahead of election day, Nov. 3, in part because bad economic news has shown to sink confidence fast. Good news takes much longer to win people back, experts said.

“Voters’ opinion of the economy has mostly hardened,” said Aaron Klein, chair of economic studies at the Brookings Institution. “People vote the economy of the spring and summer, not November.”

Good news has been harder to come by.

Heading into the holiday weekend, Trump dismissed communities opposed to data-center construction as “backwards and poor.” A rapidly escalating trade dispute with Canada threatens Republican gains in battlegrounds along the northern border that could determine control of the Senate.

Sean Zabriskie, center, helps his son Connor, 7, try on hockey pants at The Ice Box Hockey shop in Harbor City. The trade war between the U.S. and Canada is affecting products like hockey gear, most of which is made in Canada and imported to the U.S.

(Genaro Molina / Los Angeles Times)

And fresh polling found that more than 90% of Americans believe corruption is rampant in Trump’s government, even as the president spends hundreds of millions of dollars on vanity projects across the capital.

Susan Collins, the incumbent Republican senator from Maine seeking another term in a strategically critical race, chastised the Trump administration for its latest trade spat with Ottawa as “making the job harder” of securing reelection.

“There’s just nothing good you can say about them,” Collins said of the tariffs.

Trump has pushed back on criticisms of his record, declaring the country has “the greatest economy we’ve ever had” and touting what he calls a manufacturing boom, all while distancing himself from potential midterm losses.

“I’m not affected by the election,” Trump told reporters last week. “I’m not running. But my party’s running, and I’m going to help my party.”

But Rep. Mike Johnson, a Louisiana Republican and speaker of the House, said last week that the midterms would serve as a referendum on Trump’s presidency.

Rep. Aisha Wahab (D-Hayward) and Speaker of the House Mike Johnson (R-La. ) arrive for a ceremonial swearing-in at the Capitol in Washington, D.C., on Sept. 2.

(Andrew Harnik / Getty Images)

“Even though his name isn’t in the midterm, his legacy is,” Johnson said. “The America First priorities and principles are. His administration is.”

Several embattled incumbents fear that’s the case and are distancing themselves from the president. Several Republican lawmakers — including Reps. Tom Barrett of Michigan and Zach Nunn of Iowa — plan on skipping a midterm GOP convention called by Trump for this week in Texas.

Joanne Hsu, director of the University of Michigan’s Survey of Consumers, said that gas prices were a chief frustration among Americans, and found that consumer sentiment soured rapidly once it became clear the conflict in Iran would not be short-lived.

“Consumers are absolutely not feeling great about the economy right now, and the factors that are underpinning their frustrations with the economy at this time are factors that are pretty tough to turn around on short notice,” Hsu said.

Even if the Iran conflict reached a resolution, confidence in the economy is likely to change only when the prices are reflected at the gas station, she said.

“When it comes to the views of the economy, it’s really about what’s happening to my wallet,” Hsu said.

During a White House press media briefing on Thursday,Vice President JD Vance acknowledged the Iran war has led gas prices to rise and that he does not know when Americans can expect those prices to go down.

Vice President JD Vance talks to reporters during a news briefing at the White House on Sept. 3.

(Chip Somodevilla / Getty Images)

“The reason gas prices are so high now is because the Iranians are shooting at commercial shipping,” Vance said. “Gas, frankly, could have been much, much higher were it not for our efforts. But I am not going to make a promise about when it is going to return to $3.”

The day after Vance spoke, diesel hit a record all-time high of $5.85 a gallon. In California, it sold for as much as $7.71.

Yet Trump has tried to downplay the economic pressure the war in Iran is placing on Americans, in particular as the Strait of Hormuz — a vital shipping corridor for oil and gas — remains under threat by Iranian troops.

Diesel prices over $7 a gallon are displayed at a gas station in Los Angeles on Aug. 21.

(Justin Sullivan / Getty Images)

“We have the Strait of Hormuz in extremely good shape,” Trump said, adding that the U.S. Navy has escorted ships through the channel. “A lot of oil is coming out. That’s why you haven’t seen the price of oil going the way they thought it might have to go.”

Trump on Monday also touted an agreement with the Venezuelan government to develop a vast amount of the South American country’s oil reserves. Asked how he sees the deal affecting American consumers, Trump said: “Ultimately prices are going to come down.”

One of the Arts of War statues, newly covered in gold leaf, is visible at Arlington Memorial Bridge near the Lincoln Memorial in Washington, D.C.

(Andrew Harnik / Getty Images)

“Now, will it happen before the election? I can’t tell you that. But I think people are very smart,” he said.

For some Americans, the economic pressures are a key driver ahead of the midterm elections.

Monica Escalante, a home care provider who is a member of the United Domestic Workers union, said she started feeling the pinch on her wallet after Trump imposed sweeping tariffs on a number of products she buys at the grocery store. Gas, she noticed, became harder to cover after the Iran war started.

Escalante, who lives in Bakersfield, said she also has to drive her client to the grocery store, and that mileage reimbursements are not enough to cover her costs.

“It’s really hard when I don’t have the money for gas, and she doesn’t have the money for gas. Then it is like: What do we do?” she said. “It is either she’s borrowing or I’m trying to figure out how I can get gas in my tank.”

If you’re flying economy, you’re probably going to be squished into a tiny seat for the duration of your flight

When it comes to jetting off on holiday, the thought of getting from A to B can feel like a dread for some people. This could be due to turbulence, boredom or just how little legroom there is.

Flying with budget airlines doesn’t necessarily mean worse seats. Most airlines, including the likes of Ryanair, easyJet and Wizz Air, use modern narrow-body aircraft such as the Airbus A320 family or Boeing 737 family.

A lot of the budget airlines have a typical 3–3 layout of: window — middle — aisle or vice versa.

As travellers are probably aware, you can upgrade your seat with extra legroom for a certain price.

According to easyJet, “you can pay to select a standard, Up Front or Extra Legroom seat. If you don’t pay, easyJet allocates one automatically at check-in and says it will try to seat people on the same booking together, but this isn’t guaranteed”.

Meanwhile, Ryanair is probably the most notable example of the “pay if you care where you sit” model.

According to Ryanair’s website, “you can get a free randomly assigned seat, with random allocation happening during check-in 24–2 hours before departure. Paying lets you select a specific seat, with the price varying according to its location”.

Wizz Air works similarly and offers free random allocation, while you can pay for a particular seat. “Wizz also has premium seats such as front-row, Upfront and Extra Legroom, and even a “Sitting Together” option for two adults on eligible bookings”, according to its website.

Thankfully, there’s now a way to work out which budget airline offers the widest seats, so you needn’t compromise on your precious comfort.

Which? has looked at which airlines boast the most generous seating, so you can ensure you’re getting the best value for your money.

When it comes to short-haul flights, seat width (the distance between each armrest) ranges between 17 and 18 inches, which may not sound like a great deal, reports the Express.

However, that extra inch can make a world of difference when you’re packed in like sardines.

The airlines offering the widest economy seats are Wizz Air, TAP Portugal, easyJet and Lufthansa, all measuring 18 inches in width.

That means the airlines with the narrowest seats are British Airways, Jet2, KLM, Norwegian, Ryanair, Tui and Aer Lingus, all tied at 17 inches.

Meanwhile, Vueling sits somewhere in between at 17.5 inches.

Airlines seat width and legroom

Below are airline seat widths and legroom in inches:

• Aer Lingus 31-32 (legroom) 17 (seat width)
• Air Canada 30-34 / 17.5
• American Airlines 31-32 / 17
• British Airways 31 / 17.5
• Delta 31-32 / 17.9
• Emirates 32-34 / 17-18
• Etihad 31-33 / 17.5
• KLM 31 / 17.5
• Lufthansa 31-32 / 17
• Qantas 31 / 17.5
• Qatar 31-33 / 17.5
• Singapore Airlines 32-34 / 17.5
• Tui Airways 33 / 17
• United 31-34 / 17
• Virgin Atlantic 30-31 / 17.5

If you’re looking to bag a bit more space on your budget flight without splashing out extra cash, there are a couple of handy tricks worth knowing.

The first is to book a bulkhead seat – those positioned directly behind the walls, curtains or screens that divide the cabin. With no seats in front, you’ll be able to stretch your legs out to your heart’s content.

Bear in mind, however, that these can be slightly narrower if tray tables are stored within the armrest.

If a bulkhead seat doesn’t appeal to you, opt for a seat towards the back of the plane where the rows begin to taper.

This can occasionally mean fewer seats per row – though naturally, you may find yourself beside the toilet queue, which can prove a touch disruptive.

If you’re on a flight that has already departed and you spot additional empty seats, you can always politely enquire with a flight attendant about the possibility of relocating.

Remember, if you don’t ask, you don’t get – and provided you remain courteous, there’s every chance they’ll accommodate your request.

If you have additional requirements that would benefit from extra room, such as being particularly tall or pregnant, there’s a reasonable chance you could be moved to a more comfortable and spacious seat.

Kenya is beginning a crackdown on foreign nationals operating small retail shops and engaging in hawking, after President William Ruto directed authorities to shut down such businesses from September 7.

Ruto made the announcement on September 2 while addressing micro, small and medium-sized enterprise (MSME) traders at State House in Nairobi.

He said foreigners should not compete with Kenyans in businesses such as hawking and small retail, while foreign investment was welcome in activities requiring greater capital and investment.

What is Kenya doing?

Ruto directed authorities to begin shutting down small businesses operated by foreign nationals from September 7, saying hawking and small-scale retail should be reserved for Kenyans.

He said the government would take administrative action while the Parliament of Kenya considers the proposed Local Content Bill, 2025.

He also directed National Assembly Majority Leader Kimani Ichung’wah and Trade Cabinet Secretary Lee Kinyanjui to accelerate the bill’s passage through Parliament.

Why is Kenya moving against foreign traders and small retailers?

Hesbon Hansen Owilla, a professor at Aga Khan University in Nairobi, said the policy would help protect Kenyan traders.

“Yes, this is the best way to protect Kenyan small businesses and traders,” he told Al Jazeera. “Kenya is trying to bring in only investors who are bringing capital that can spur economic development by creating jobs rather than allow small-time foreign traders who only stifle Kenyan small traders while enjoying the robust infrastructure that Kenya has built and social securities.”

“It’s like expatriates. A country cannot allow expatriates in for jobs locals have expertise in,” he said.

The proposed Local Content Bill, 2025, would require foreign companies to increase local sourcing and employment, among other measures.

The bill is still being considered by Parliament and has not yet been enacted into law.

What businesses and traders are affected?

The directive is aimed at foreign nationals operating small retail shops and engaging in hawking. Ruto specifically referred to hawking and small shops when announcing the crackdown.

Kenya’s broader micro, small and medium-sized enterprise (MSME) sector covers a wider range of businesses. The government has not publicly provided a comprehensive list of all businesses covered by the September 7 directive or an estimate of how many foreign nationals will be affected.

Ruto also directed Ichung’wah to engage the State Department for Immigration’s principal secretary and establish the requirements governing permits issued to foreign investors and traders. It is therefore not yet clear how the directive will apply to foreign nationals who already hold permits to conduct business in Kenya.

Foreign Affairs Principal Secretary Korir Sing’Oei said on September 6 that foreign nationals who meet Kenya’s legal requirements, including holding the necessary work permits and licences, remain legally protected to operate businesses in the country. He said Ruto’s remarks had been taken out of context and were made in the context of the Local Content Bill, 2025.

How significant is foreign investment in Kenya?

Kenya’s 2024 Foreign Investment Survey, the latest such survey published by the Kenya National Bureau of Statistics (KNBS), put the country’s stock of foreign direct investment at  1.458 trillion Kenyan shillings ($11.27bn) at the end of 2023, up 8.5 percent from 1.343 trillion Kenyan shillings ($10.4bn) at the end of 2022.

These figures cover foreign investment across the Kenyan economy and are not limited to the small-scale trading activities targeted by Ruto’s directive.

Surveyed foreign-invested enterprises employed 224,769 people in June 2024, including 221,267 Kenyan employees. Foreign employees accounted for 1.6 percent of the workforce in those enterprises.

What is the Tata Chemicals case?

The Tata Chemicals dispute is separate from the small-business crackdown.

Tata Chemicals Magadi operates a soda ash business at Lake Magadi in Kajiado County. On July 28, the Kenyan government suspended the company’s mining operations, citing alleged compliance issues under the country’s mining laws. The suspension also affected its soda ash exports.

On September 3, Ruto said he had ordered Tata Chemicals to leave Kenya, saying the company had not provided sufficient benefits to the local community in Kajiado County. He said the government would bring in two new companies to establish glass and chemical manufacturing facilities in the area.

Tata Chemicals said it had submitted the information requested by Kenyan authorities and was awaiting further communication. The company has said it complied with regulatory requirements and remained committed to resolving the matter through legal and regulatory channels.

The Tata dispute concerns the company’s soda ash operations at Lake Magadi. This is separate from the directive targeting foreign nationals operating small retail businesses and hawking.

What does this mean for foreign investment?

International business consultant and Sols Inclinations Ltd Managing Director Solomon Kinyanjui said the distinction was not between welcoming foreign investment and rejecting it, but between foreign capital that complements Kenyan enterprise and activity that displaces it.

“The issue is not whether foreign capital is welcome, but what role it should play in Kenya’s economy,” he told Al Jazeera. “Foreign investment should complement Kenyan enterprise, not substitute for economic activities Kenyans can competitively undertake themselves.”

He said the stronger case for foreign investment was where it brought capital, technology, skills, industrial capacity and access to export markets, but warned that the government needed to draw the boundary clearly and apply its rules predictably.

Hafsa Abdiwahab Sheikh, a journalist, said the policy could have both benefits and costs depending on how it is implemented.

“The policy could create more jobs for Kenyans and encourage skills transfer, while helping protect local employment,” she told Al Jazeera.

“However, if implemented unpredictably, it may discourage foreign investment and increase business costs, leading to higher prices. It could also affect relations with foreign communities if foreigners are blamed for unemployment.”

The global ratings agency has also maintained the country’s sovereign rating at AA.

Fitch Ratings has removed Qatar from “Rating Watch Negative” while maintaining its sovereign rating at AA amid the US-Israel war on Iran and the Strait of Hormuz blockade.

The global ratings agency announced the decision on Friday, citing reduced risks to the country’s liquefied natural gas (LNG) facilities since March.

The agency, however, kept a negative outlook on the rating, citing ongoing risks surrounding the movement of gas exports through the blockaded Strait of Hormuz.

“The impact of the war on the credit profile will take longer to discern,” the agency said in a statement.

Qatar, one of the world’s largest gas exporters, continues to face export disruptions and shortages caused by damaged energy facilities during the war on Iran, which began six months ago.

Earlier this year, credit agencies S&P and Moody’s also affirmed Qatar’s ratings, noting that the country’s sizeable financial cushion helps protect it from the economic impact of the war.

US sanctions Turkish bank over alleged IRGC ties, accusing it of facilitating millions in transactions for Iran.

The United States Treasury Department has imposed sanctions on a Turkish bank and its subsidiaries over alleged ties to Iran, as Washington seeks to economically isolate Tehran.

The Treasury Department accused Golden Global Yatirim Bankasi Anonim Sirketi (Golden Global Bank) on Friday of facilitating “tens of millions of dollars’ worth of transactions for the Islamic Revolutionary Guard Corps-Qods Force” and providing the Iranian government with banking access to move its funds internationally.

Washington alleged the bank “was established for the purpose of enabling Iran’s rahbar network [shadow banking system] to transfer oil revenues from China to Turkey” using gold and cash.

Golden Global Bank responded on Friday, saying it fulfilled all local and international banking compliance rules and would take legal action against the US-imposed sanctions.

There are no transactions conducted by Golden Global Bank that could substantiate the claims made by the US, the bank said in a news release.

“We will exercise all our rights of objection and legal recourse in the most effective manner and will take the necessary actions at the earliest against these allegations and the decision,” the Turkish bank added.

“Financial institutions continue to find out the hard way that we are serious about Operation Economic Outcast,” said Secretary of the Treasury Scott Bessent in a statement published by the department on Friday.

The sanctions place the bank and its two subsidiaries on the US Office of Foreign Assets Control (OFAC)’s Specially Designated Nationals list, cutting off access to the US financial system.

The bank said individuals and entities named in the OFAC decision “have never been and are not currently customers” of Golden Global.

US Ambassador to Turkiye Tom Barrack said on Saturday that it would be a mistake for Turkish officials “to read [the US’s] narrow measure as a judgement upon Turkiye”.

“The health of the Turkish financial system is not in question; the conduct of one institution was,” Barrack said on X.

Last week, the US took steps towards severing the UAE operations of Egypt’s second-largest bank from financial access after accusing it of processing transactions for companies linked to Iran’s shadow-banking system.

Bessent said on Tuesday on the sidelines of a G20 summit that Washington would likely announce a bank sanction this week and another next week, as it ramps up its economic campaign against Tehran.

The United States economy has added 162,000 jobs in August, with large gains in local government education and food services.

The unemployment rate remained unchanged, according to the monthly jobs report released by the US Department of Labor’s Bureau of Labor Statistics (BLS) on Friday.

The data was well above analysts’ expectations. Economists polled by Reuters had forecast 56,000 gains, the Wall Street Journal forecast 53,000, and Bloomberg had forecast 55,000, following a loss of 23,000 in July.

Local government education, or public schools, accounted for nearly 42,000 of the jobs added as the 2026–27 school year begins across much of the US. Teachers typically fall off payrolls during the summer months when school is not in session.

Food service jobs also saw large increases, with the sector adding 59,000 jobs for the month of August compared with the month prior.

There were also gains in construction, which added 22,000 jobs, and healthcare, which added 12,000.

The information sector, which accounts for industries like data processing, web hosting, publishing, broadcasting and telecommunications, fell by 23,000, with notable layoffs at companies including Scripps TV and Zillow, which fall under the umbrella of these industries.

The financial activities sector, which accounts for industries like insurance, commercial banking and real estate, dropped by 12,000.

Mixed data

The data comes in sharp contrast to the ADP national employment report, which tracks private payrolls and found 38,000 jobs added across the US economy.

Meanwhile, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) report released on Tuesday revealed job openings were slightly changed, with 7.3 million in July, up from 7.2 million the previous month, while total separations fell to 5.1 million in July from 5.3 million in June.

The move in job gains comes ahead of the US Federal Reserve’s policy meeting later this month, where the central bank will vote on interest rates. Amid the job gains, CME Group’s FedWatch, which tracks the likelihood of monetary policy decisions, had a 60 percent chance of a 25 basis point rate increase to 3.75–4.00 percent, up from 49 percent on Thursday.

US President Donald Trump was quick to comment on the jobs report and push for rate cuts.

“Lower the interest rates because the U.S.A. is a much stronger credit than it was a short time ago!” he said in a post on his social media platform Truth Social.

He also ramped up threats to cut off trade with nations that the US has a deficit with if the central bank does not cut rates.

Despite a strong jobs report, US markets are trending downwards. The Nasdaq is down 0.2 percent, the Dow Jones Industrial Average is down 0.5 percent, and the S&P 500 is down 0.3 percent amid Trump’s comments.

Meanwhile, Canada released its jobs report amid the ongoing trade dispute with the US. The Canadian economy lost 41,700 jobs, according to Statistics Canada, with the unemployment rate holding steady at 6.4 percent.

“We expect the economy will continue struggling to create jobs in the near term as mounting headwinds from new US-Canada tariffs, greater uncertainty from a flare-up in the trade war, and the ongoing Iran conflict and a shrinking population weigh on hiring,” Tony Stillo, director of Canada Economics at Oxford Economics, said in a note provided to Al Jazeera.

As the United States and Iran exchanged attacks this week, one date was increasingly looming over the conflict.

The US midterm elections on November 3 could prove a pivotal moment in the war, as senior advisers to President Donald Trump seek to prevent the conflict from returning to all-out war before the polls when Republicans will be defending narrow majorities in both houses of Congress.

The push for restraint comes as Washington turns to economic pressure on Iran instead of military force. In August, the Trump administration announced its so-called “Economic D-Day”, imposing sanctions on 60 entities that it says facilitate oil revenues for trade with Iran and threatening other countries doing business with Tehran with secondary sanctions.

At the same time, the US naval blockade of Iranian ports in and around the Strait of Hormuz continues to exert pressure on Tehran’s oil exports.

Vice President JD Vance has meanwhile sought to downplay the war, which the US and Israel launched with attacks on Iran on February 28, as rising fuel prices and public opposition in the US threaten to become political liabilities for Republicans before the vote.

But there are clear limits to the restraint the Trump administration can show, with US forces continuing to strike Iran in recent days, and US leaders insist that further military action remains an option. Vance said this week that “everything that could happen is on the table,” including economic, military, diplomatic and covert pressure.

That leaves the coming two months as a particularly tricky period to navigate. Washington will want to avoid an all-out war while ratcheting up economic pressure, but Iran has its own calculations and could respond militarily anyway, potentially forcing the US into an escalation it would rather avoid before Americans go to the polls.

Here’s what we know.

Why do the midterms matter for Trump?

The midterms will determine whether the Republican Party can retain its narrow control of Congress. If the war escalates again before then, that could persuade more people to vote against the Trump administration.

Containing the fighting until November, therefore, may help prevent an already deeply unpopular war from dominating the political agenda.

A late-August Reuters/Ipsos poll suggested that just 31 percent of Americans support the war, compared with 63 percent who oppose it. Trump’s approval rating has also fallen since the outbreak of hostilities, from 40 percent to 33 percent, according to Reuters/Ipsos polling.

Observers say the Trump administration did not expect things to get to this point.

In early March, Trump insisted the war would last for “four or five weeks”. Instead, the conflict has dragged on, and unexpected consequences – including Iran’s closure of the Strait of Hormuz causing energy prices to spike – have made it even more unpopular with US households.

US diesel prices hit a record high on Thursday, surpassing the previous peak recorded in 2022, as higher crude oil prices and refining bottlenecks drove up the cost of a fuel that underpins much of the US economy.

That is particularly damaging for a president who campaigned partly on a promise to dramatically reduce energy costs – as well as not to get involved in “unnecessary” wars.

The fallout from the war has not stopped at the petrol pump. Sustained increases in fuel and transport costs feed into the price of groceries, manufactured goods and other everyday purchases – potentially worsening inflation when Democrats are making the cost of living a defining issue for the midterm campaign.

A Politico poll conducted in August suggested that 61 percent of Americans believe the Iran war had made life more expensive for their families, four percentage points higher than a month earlier.

Can Trump keep the war contained until November?

There are signs that his administration is trying to do exactly that.

In recent weeks, Washington has intensified its campaign to economically isolate Iran, threatening severe sanctions against countries that continue trading with it while maintaining military pressure around the Strait of Hormuz.

With strikes on Iran earlier this week, Trump has also indicated he is willing to engage in sporadic attacks, while trying to keep the war from escalating back to all-out conflict.

Senior administration officials have simultaneously sought to play down the scale of the military confrontation. Asked at a White House briefing whether the Iran war would be resolved before the midterm elections, Vice President JD Vance said he “wouldn’t call it a war” and claimed there was “no active shooting right now”.

Asked when Iran would stop attacking commercial shipping, Vance said: “You would have to ask the Iranians.” He also said the conflict was having “less effect day by day” on global energy markets. The US claims it is escorting about 30 ships per night through the Strait of Hormuz – and officials claimed some 18 million barrels of oil were transported through on Tuesday this week. However, shipping data does not appear to fully support this claim.

Trying to maintain a strategy of “no war, no peace” with sporadic attacks is high-risk, analysts have warned. Negar Mortazavi, senior fellow at the Washington, DC-based Center for International Policy, told Al Jazeera this week: “Tehran will not capitulate under [economic] pressure. Both sides may believe they can control the escalation, but every new exchange increases the risk of a wider regional conflict.”

One of the US attacks this week is also believed to have hit a civilian home where a wedding was taking place in Kuhestak, southern Iran, killing at least four people, including children, and wounding dozens.

Furthermore, The Washington Post reported on Sunday that senior Army, Navy and Air Force leaders have warned Pentagon chief Pete Hegseth in a written assessment that continuing the war at its current pace is unsustainable and risks undermining US military readiness in other parts of the world.

Trita Parsi, executive vice president of the US-based Quincy Institute for Responsible Statecraft, told Al Jazeera that this week’s attacks point to a US strategy that remains deeply unsettled.

“I think it’s quite likely that what we’re seeing right now is just complete military, strategic disarray on the American position in which the positions, the actions, the tactics, the strategies keep on getting changed,” Parsi said.

Washington had imposed sweeping economic sanctions on Iran in an apparent attempt to make further military intervention unnecessary, he noted. “Seven days later, the US is back into bombing Iran.”

The US appears to be “jumping from one position to the other”, he added.

What are Iran’s calculations?

While the most recent attacks between the US and Iran have been less intense than the heavy exchanges seen in the early weeks of the war and during the two flare-ups in July, the risk of escalation is high. And it may be in Iran’s interests for that to happen sooner rather than later.

Iran has excelled at the use of asymmetric warfare against an enemy with considerable military might – using cheap, mass-produced drones to exhaust US supplies of very expensive defensive systems, and launching attacks on US allies around the Gulf, sowing disharmony.

In particular, Tehran has demonstrated that it can severely disrupt maritime traffic through the Strait of Hormuz, causing global economic consequences.

Continued Iranian attacks on US or regional military assets, shipping or energy infrastructure would place pressure on Washington to retaliate more strongly than via the few attacks it has carried out this week, creating the possibility of an escalatory cycle that could return the two countries to a much wider war regardless of the White House’s electoral calculations.

Furthermore, Washington’s economic strategy to isolate Tehran – an attempt to move away from open warfare – may in fact create a greater Iranian incentive to retaliate.

Parsi told Al Jazeera that Iranian officials appear to believe Trump ultimately intends to restart the war on a larger scale but is just waiting until after the midterms.

That creates a potentially dangerous calculation for Tehran, where it is better to escalate now – while Trump is at his most politically vulnerable. “The reaction of the Iranians to that might be to actually trigger the war themselves early right before the midterm elections in order to maximise the pain that will impose on the US president,” Parsi said.

What happens after November?

Reuters reported on Wednesday that senior White House officials are already considering whether to intensify military operations against Iran after the November 3 vote, although no decision has been made on returning to full-scale conflict, it reported.

A Republican victory in the midterms could give Trump greater political room for this option, particularly if the administration interprets the result as approval – or at least lack of enough disapproval – for the war despite the economic consequences for voters.

A Republican defeat presents a more complicated picture, however. On the one hand, losing one or both chambers of Congress will constrain the administration, as Congress controls government funding. Democratic control of the House or Senate would also give Trump’s opponents greater scope to hold hearings, investigate the US conduct of the war and challenge requests for additional military spending.

Conversely, with Trump no longer facing a congressional election, he may feel less pressure to contain the war, experts fear.

Parsi warned that an electoral defeat could therefore have the opposite effect to what Tehran might expect.

“I’m not so sure that it’s going to pay off necessarily for the Iranians because a Trump that is humiliated at the elections, who is faced with a Democratic [majority] House [of Representatives] and potentially a Democratic Senate, may also become a much more desperate and reckless president,” he said.

A NEW premium economy seat is set to change the way you fly – with business class-like privacy screens.

Emirates has revealed its new seats, with premium usually only a small jump up from economy (often with more legroom and better food).

However, the designs show something much closer to a business class seat too.

Launching on the Airbus A350, they will be the first fully electrically powered premium economy seats.

This means with a flick of the button, you can choose from ‘lounge mode’ to ‘meal mode’.

Don’t worry about annoying the person behind you when you recline – each seat is built into a ‘cradle’ so it doesn’t affect them.

SIT UP

I flew on world’s best airline with business-like perks in premium & huge reclines

TAKE OFF

I flew on one of world’s oldest airlines – one way economy trumped business class

But the highlight is the privacy screen between seats, the first ever for premium economy seats.

The divider can be lowered if sitting with family or friends, or raised and locked into position.

The new seats will be laid out in a 2-3-2 layout, with 28 seats in the cabin.

Pitch will be up to 39 inches – compared to most having around 38 inches – as well as 50.8cm width.

Other perks include wireless charging – a first for premium economy – as well as USB-C chargers and phone holders.

The new premium seats are part of wider regeneration of the plane cabins.

Recently, the airline unveiled the new economy seats with built in adjustable headrests.

Called the U-Dream Headrest, it means you can ditch the travel pillow as the headrest pulls down to offer neck support.

There are also plans to launch the world’s first ever private bathrooms onboard, albeit only for first class passengers.

Here’s what it is like to fly business class with Emirates.

ChatGPT creator’s latest release comes amid heightened fears following AI-led hacking of the startup Hugging Face.

OpenAI has announced the release of what it says is its most advanced AI model, amid heightened scrutiny of the risks of the frontier technology escaping human control.

The $852bn start-up said in its announcement on Thursday that GPT‑6 Astra, the “world’s most intelligent and aligned” AI model, earned perfect or near-perfect scores in key benchmarks of AI reasoning, beating both its prior release GPT 5.6 Sol and rival Anthropic’s Claude Fable 5.

The ChatGPT creator said GPT‑6 would become available to the general public in the coming days, following its initial launch with a “limited set of organisations”.

OpenAI’s latest release comes as the AI industry is at the centre of a lively public debate about the dangers of the cutting-edge technology following the AI-led hacking of the startup Hugging Face in July.

An independent probe into the cyberattack found that hundreds of OpenAI’s AI agents had begun communicating among themselves before breaking out of their controlled environment and compromising Hugging Face’s servers.

On Thursday, US Senator Bernie Sanders, an Independent, and US House Representative Greg Casar, a Democrat, unveiled legislation that would pause the development of advanced AI until the establishment of federal safety rules and an outright ban on the creation of “superintelligent” AI.

“Nearly every day, there is a frightening new story about how Big Tech companies are losing control of the technology they are developing, with potentially cataclysmic results,” Sanders said in a statement announcing the legislation, which is unlikely to advance due to the Republicans’ control of all three branches of the US government.

“The leaders of the major AI companies publicly acknowledge that they do not fully understand the technology and that it is escaping their control. It is irresponsible for society to allow them to move forward and make these products even more advanced.”

In its announcement, OpenAI devoted significant space to AI safety, highlighting both GPT‑6’s potential to do harm and its safety features.

Toby Walsh, a professor and AI expert at the University of New South Wales, Sydney, said that while OpenAI is clearly “neck and neck” in the race to lead AI, the technology remains inconsistent and in need of greater scrutiny.

“The intelligence in artificial intelligence is still today very jagged,” Walsh said. “There are simple things that even the best AI models do poorly.

“And it’s hard to see how the AI companies, including OpenAI, are slowing down to address justified concerns around cyber risk, when new models are being released at an ever greater and greater rate.”

Roman Yampolskiy, a computer scientist at the University of Louisville, said GPT‑6 marks a “meaningful” advance that raises the stakes for AI safety.

“The key question is whether capabilities are improving faster than our ability to reliably understand, predict and control these systems,” Yampolskiy said.

“I see little evidence that this gap is closing.”

Critics argue that the administration’s arcade games prioritise entertainment over pressing issues like rising costs and foreign conflicts.

The White House’s unveiling of five arcade-style games on its website, each believed to be promoting a different policy of United States President Donald Trump’s agenda, has ignited backlash, with critics accusing the administration of prioritising entertainment over addressing rising living costs and the ongoing war on Iran.

Announced on Thursday, the games include “Build the Wall” where players run to capture little green figures before they reach a border wall; “Rio Run”, a Snake-style game in which players gather border crossers along a fence; “Supply Line”, in which players reject food items that fail to meet “Make America Healthy Again” standards; “Flappy Bill,” a Flappy Bird-style game in which a bald eagle carries legislation over the National Mall; and “Trump Savings Tycoon”, in which players catch flying cash and gold bars to “fill your kids’ Trump Accounts,” in reference to the administration’s child savings programme.

“Heating oil is near an all-time high but hey you can play Border Czar Tom Homan in a video game,” Senator Matt Lesser wrote on X.

Rights groups have also criticised the administration for the gaming website.

“Makes me sick. They’ve been playing games with people’s lives for years, now they’ve made a video game of what they’re doing,” Amerika Garcia Grewal, co-director of the Frontera Federation in Eagle Pass, Texas, told AFP news agency.

The game designers “have lost touch with what it means to be human and care for others”.

Adriana Jasso, programme coordinator for AMIGOS San Diego Community, who works at the border, said the arcade-style games showed a fundamental “lack of seriousness” from the administration.

“The cruelty, the extremity of the administration … is no longer surprising,” she said.

In recent months, Trump has faced mounting criticism over the economic toll of the war on Iran and his broader domestic agenda.

The conflict has kept the Strait of Hormuz closed for nearly six months, disrupting global supplies of oil and natural gas and fertiliser, and pushing US inflation above the Federal Reserve’s 2-percent target, according to reporting by Texas Public Radio.

Trump has also faced criticism over tariff policies that the Supreme Court partly struck down earlier this year, along with cuts to food assistance programmes and the expiration of Affordable Care Act tax credits, all of which economists say have compounded the squeeze on household budgets.

The White House, meanwhile, appeared unfazed, posting “CAN’T STOP WINNING” on X alongside a link to the games.

Gaza City, Gaza Strip – In the stifling heat of Gaza City, Dr Rizq Sufyan Abo Halima sits in a small tent pitched in an alleyway, waiting for his next patient.

The tent was a last resort for the doctor, given that the high demand and low supply of properties in the Gaza Strip as a result of Israel’s genocidal war have made finding an affordable surgery impossible.

“The stifling rise in temperatures was my first challenge,” he told Al Jazeera. “I had to adjust the corners of the tent and lift it at the ends to allow air to pass through.”

His old clinic, Smile One, in Sheikh Zayed City in northern Gaza, was bombed during the early days of the war in 2023.

The 31-year-old built a new clinic in May last year, next to where his current tent is pitched, in Gaza City’s al-Nasr neighbourhood. But three months later, it too was destroyed when Israeli forces assaulted the area, just weeks before the ceasefire last October.

He is now forced to conduct operations and other emergency dental procedures in the tent close to the ruins of his former surgery. When the electricity supply stops, which is frequent, there is little he can do but sit in his tent and wait for the power to come back on.

Finding another office would be the obvious solution, but residential and commercial units are hard to find in Gaza and those few that remain are unaffordable.

More than four in five buildings in Gaza City and northern Gaza have been completely destroyed or severely damaged in Israel’s war, according to the United Nations Satellite Centre (UNOSAT).

Fewer than one in five buildings in Gaza can still be used and Israel’s ban on building materials has made repairs impossible. That has created a skewed supply situation, which has made prices of office spaces or homes unaffordable.

“Before the war, I used to rent an entire apartment for my clinic for 500 shekels ($166) a month, but today I cannot afford the prices of remaining apartments at all,” he said. Now, the cost is closer to $1,000.

Heat is better than high costs

Using a tent is the cheapest alternative Dr Abo Halima could find, and he does not want to pass on what he calls the excessive price of building rent to his customers, who are already suffering immense personal and financial hardships.

“If I had rented an apartment for my clinic instead of a tent, the cost of one filling to teeth would have doubled for the patient,” Dr Abo Halima said.

“I am here, enduring the harsh summer heat, so that I can protect people from the high prices that I will inevitably have to charge if I rent an apartment, in addition to the fact that I have no other options at all.”

Dr Abo Halima treats his instruments with care. He sterilises them regularly to protect them from dust and germs and hires a security guard. After all, the thin canvas walls offer little protection from thieves.

Despite his best efforts, the collapsed, resource-starved economy in Gaza means that dental care is a luxury for many patients.

One of them, 25-year-old Yousef Abo Halima, sums up the situation in a few simple words: “I can handle the harsh heat inside the tent, but I certainly cannot afford the high costs of fillings at clinics that operate inside apartments”.

Difficult choices

After Heba Rihan, 23, graduated from Al-Aqsa University with a major in general nursing, she struggled to find work in her field.

So she made an arduous daily journey from the south of the Gaza Strip to the west on foot, looking for work. She eventually found Dr Abo Halima’s clinic in May and began working there.

Now, one of the most regular parts of her job is explaining to patients that the high cost of treatment is due to the scarcity of materials and other issues related to the war and Israel’s siege on Gaza.

“One day [a patient] came in deep pain… When he asked how much the filling cost and was told it was 350 shekels ($116), he didn’t have the money. He asked directly about the tooth extraction, which is only 50 shekels ($17),” she said.

“He decided to extract his original tooth because he could not bear the pain or the cost. That was the most painful moment I’ve ever had here.”

China has long been a rare partner to Iran, with the economic heft to blunt the United States’ efforts to strangle the Iranian economy.

Yet even as China opposes US President Donald Trump’s latest pressure campaign, few observers expect it to go much further than the modest economic links it has thus far forged with Iran to shield it.

While China opposes the Trump administration’s military attacks and sanctions against Iran, Beijing’s relationship with Tehran is just one consideration in a foreign policy that seeks to balance relations with numerous countries, including the US and the Gulf states, limiting its appetite to prop up the Iranian leadership at any cost, analysts say.

“China, with broader global interests, can only actively promote de-escalation of the US-Iran conflict, and cannot and will not engage in fierce confrontation with the US for Iran’s sake,” said Hongda Fan, director of the China-Middle East Center at Shaoxing University in China.

“Ultimately, the US-Iran conflict must be resolved by the two countries themselves,” Fan said.

China and Iran share substantial trade links, particularly in energy, and a mutual suspicion of US dominance, but their relationship is heavily lopsided, with Tehran depending on Beijing far more than vice versa.

That asymmetry in ties was on full display this week at the annual gathering of the Shanghai Cooperation Organisation, a 10-member bloc widely seen as a counterbalance to US hegemony, where Chinese President Xi Jinping joined more than a dozen non-Western leaders, including Iranian President Masoud Pezeshkian.

While Iranian state media reported that Pezeshkian held a “brief meeting” with Xi on the sidelines of the summit in Bishkek, Kyrgyzstan, Chinese outlets made no mention of the encounter.

Xi immediately followed his attendance at the summit with his first visit to Egypt in a decade on Tuesday, using the visit to call on countries in the Middle East to oppose “external interference” and reiterate his calls for a diplomatic resolution to the Iran war.

As Iran’s top trade partner, China has taken up to 90 percent of Iranian oil exports since the US and Israel launched their war in late February.

Iranian crude, however, accounts for only about 2 percent of China’s overall energy mix.

While China’s oil purchases have been an economic lifeline for Tehran, Chinese importers have not been immune to fears of exposure to US sanctions.

China’s major state-owned refiners such as Sinopec and PetroChina have shunned Iranian oil for years, leaving the trade to independent “teapot” refiners with minimal links to the dollar-based global financial system.

Though the Trump administration has imposed sanctions on these “teapot” refiners and a limited number of China- and Hong Kong-based firms and individuals, it has yet to target major Chinese banks accused of facilitating Iranian oil purchases.

The Trump administration has hinted at targeting China’s financial system as part of its ramped-up sanctions campaign, dubbed “Operation Economic Outcast”, though analysts are sceptical that Washington will risk provoking Beijing’s ire as the sides seek to lower the temperature in their trade war before a scheduled summit between Xi and Trump on September 24.

“The legitimate question is why third countries should be expected to adopt Washington’s unilateral economic policy towards another sovereign state,” said Zichen Wang, deputy secretary-general of the Center for China and Globalization (CCG) think tank in Beijing.

“That does not, however, mean that Beijing will provide Tehran with a blank cheque,” Wang said.

“China is likely to continue opposing US secondary sanctions politically and to defend what it considers legitimate Chinese commercial interests. But past behaviour also shows that major Chinese banks and state-owned companies are highly conscious of sanctions exposure.”

Rhetoric versus reality

Even as Beijing and Tehran have forged closer ties, their relations have for years been marked by a substantial gap between rhetoric and reality.

While China pledged to invest up to $400bn in Iran over 25 years as part of a “comprehensive strategic partnership agreement” signed in 2021, few projects have materialised amid what analysts say is Chinese firms’ reluctance to navigate sanctions and the opaque Iranian bureaucracy.

In 2023, Iran’s then deputy economy minister, Ali Fekri, complained that he was “not satisfied” with China’s level of investment since the agreement, saying it had only amounted to about $185m.

“Iranian experts often blame their government for not doing enough to attract Chinese investors or not pushing Chinese companies to share more technology,” said Andrea Ghiselli, head of research at the ChinaMed Project.

“However, the reality is that there is no point for Chinese companies to give up their ties with the international financial system to expand their business in Iran,” Ghiselli said.

“It is much easier and more profitable to trade and invest elsewhere. Iran’s own domestic physical and bank infrastructure is also an obstacle.”

Meanwhile, the most tangible measure of China’s economic support, purchases of Iranian oil, has been dwindling amid the US blockade of Iranian ports.

Iranian crude exports via the Strait of Hormuz, mostly bound for China, fell from an estimated 1.85 million barrels per day (bpd) in March-April to just 240,000bpd in August, according to data from ship-tracking platform Kpler, though millions more barrels shipped before the blockade are still at sea.

In an interview with CNBC on Monday, US Treasury Secretary Scott Bessent said “only” about 30 million barrels of Iranian oil remained on the water and Chinese remittances to Iran were “going to run out”.

Kpler last month estimated that about 80 million barrels were in on-water shortage, enough to provide revenues to Tehran for up to six months.

“For China, Iran is valuable – but replaceable across many dimensions. Iranian oil matters, but China can obtain energy from Saudi Arabia, Russia, Iraq, the UAE, and numerous other suppliers,” said Mordechai Chaziza, an expert on China’s Middle East policy who lectures at Ashkelon Academic College in Israel.

“Iran offers geopolitical access, but China possesses relationships throughout the region. Iran supports China’s multipolar agenda, but so do many other states.”

China’s support for Iran is also not risk-free for Beijing, given its important relationships with Iranian rivals such as Saudi Arabia and the United Arab Emirates, Chaziza said.

“Saudi Arabia and the UAE are major energy and commercial partners.

“Gulf stability is vital because China obtains roughly half of its crude imports from the Middle East,” he added.

The “ideal outcome” for Beijing, Chaziza said, would be “a stable, sovereign, economically connected, and internationally non-Western” Iran, but not one “whose confrontation with Washington, Israel, or the Gulf monarchies forces China to choose sides”.

Wang, at the CCG, said that while Beijing appears determined to defend Chinese commercial interests, it is unlikely to sacrifice its broader interests in the region or elsewhere.

Beijing’s warning that it is ready to take countermeasures against unilateral sanctions is “not the same thing as promising to underwrite the Iranian economy”, Wang added.

For China, Iran is seen more as a customer than an ally, said Kerri Bitsoff, a former senior official at the US Treasury’s Office of Foreign Assets Control.

“I don’t think this is the alliance some people think it is, even though there’s real support. I think of a more like a customer relationship that Iran can’t walk away from,” Bitsoff said.

“And it was good for China – they got cheap oil, they got a US tied up in the Middle East, but I think that only lasts up until the point where it threatens China’s other interests,” she added.

Multiple new cases have been filed against OpenAI, alleging ChatGPT played a role in the Tumbler Ridge mass shooting.

OpenAI is facing another wave of lawsuits in the wake of the February mass shooting in Tumbler Ridge in Canada’s province of British Columbia, which left eight people dead.

On Wednesday, 30 new complaints were reportedly filed in a United States federal court in California, including teachers and students who were witnesses and survivors at the school where most of the shooting took place, joining seven initial lawsuits filed in April.

The lawsuits accuse the San Francisco, California-based artificial intelligence giant and its CEO, Sam Altman, of negligence, as well as aiding and abetting a mass shooting.

The suits, brought by lawyer Jay Edelson, allege that the company knew about the intentions of the 18-year-old shooter who, in her interactions with OpenAI’s chatbot ChatGPT, had described scenarios involving gun violence, but that the leadership did not report their concerns to law enforcement, echoing earlier lawsuits on the matter.

In April, Altman penned a letter to the community apologising that the company did not alert law enforcement about the shooter, Jesse Van Rootselaar.

“While I know words can never be enough, I believe an apology is necessary to recognize the harm and irreversible loss your community has suffered,” Altman wrote in the letter.

Authorities say that Van Rootselaar killed her mother and half-brother before going to the Tumbler Ridge Secondary School and opening fire. Five children and one educator were killed at the school. More than 25 others were wounded before Van Rootselaar died from what police described as a self-inflicted gunshot wound.

One of the new cases filed was on behalf of a 13-year-old identified as A C, who played dead after watching the shooter kill their classmates and the teacher. Another new case was brought by a grade seven teacher named Deidre Rushlow, who hid under her desk with her students during the rampage.

“There isn’t a day that goes by that I don’t think about what happened at Tumbler Ridge, or the victims of this devastating tragedy and their families. It’s a constant and sobering reminder of the important and incredibly difficult work that many people in my team do each and every day,” Jason Kwon, OpenAI’s head of strategy, wrote in a post on X on Wednesday.

“We’ve been approaching this litigation with respect for both the legal process and the families and victims of this tragedy, and we’ll continue to engage in good faith with that process.”

Edelson did not respond to Al Jazeera’s request for comment.

Growing legal pressure

In July, British Columbia’s Attorney General Niki Sharma announced that the province would also pursue “all legal avenues to hold OpenAI and its decision-makers accountable” for the shooting.

The company has faced a growing slate of suits, apart from the ones from British Columbia, alleging that its product played a role in incidents that led to users harming others and themselves.

A recent lawsuit in Florida alleges that the company “actively assisted and encouraged the mass shooting” at Florida State University in April 2025.

There are other complaints filed on behalf of victims across the US and Canada alleging that the victims took their own lives after being pushed by ChatGPT to do so, including a case in Quebec earlier this year.

United States President Donald Trump’s face has officially found its way onto the country’s currency.

On Tuesday at 12pm Eastern Time (16:00 GMT), the US Mint began circulating – and selling – a “once-in-a-generation” $1 coin bearing Trump’s likeness to commemorate the nation’s 250th anniversary.

The gold-coloured coins feature Trump’s portrait on one side, alongside inscriptions of “LIBERTY” and “IN GOD WE TRUST”. On the reverse is an illustration of the US presidential seal with “250” inscribed on its shield.

The US Mint says the coins “capture the spirit, pride, and legacy of a nation approaching its landmark anniversary”.

It’s the first time in nearly 100 years that a living person has been featured on US currency, drawing a heavy dose of criticism, since such honours are largely reserved for long-dead dignitaries.

How did this $1 coin come to be? Here’s what you need to know:

Why is this being done?

Since Trump returned to the White House last year, the administration has taken steps to put his name or image on an array of buildings and items, including the Kennedy Center, the US Institute of Peace, National Parks passes, a limited-edition passport and a $1m “gold card” visa that was announced last year.

The Trump administration has tied some of those efforts to celebrations of the country’s semiquincentennial, the 250th anniversary of the signing of the Declaration of Independence.

On July 15, US Treasury Secretary Scott Bessent first announced the coin in a post on social media. Bessent said the coin “celebrates the strength of American values, and the promise of a nation dedicated to preserving freedom for all”.

The Trump administration has also pointed to another anniversary coin as a precedent for the Trump-branded $1 piece.

In 1926, for the 150th anniversary of the country, the US Mint struck a coin featuring side-by-side portraits of George Washington and Calvin Coolidge, a president who was in office at the time.

But critics have pointed out that the 1926 coin was commemorative and not intended for circulation as currency.

Are there other proposals for Trump-themed currency?

In May, Bessent also said preparations were under way to print a new $250 banknote featuring Trump’s face.

Bessent added that the Trump administration was seeking congressional approval for the new bill.

How much are the new coins?

Despite the coin being valued at $1, consumers can purchase a 25-coin roll for $61 or a 100-coin bag for $154.50 — a significant mark-up.

While the coins are being sold at a premium, the US Mint emphasises they are not solely decorative.

They are valid currency and can be used to make everyday purchases, just like a $1 bill.

Is it legal?

US federal law states: “Only the portrait of a deceased individual may appear on United States currency and securities.”

Congress passed that law in 1866 after a Department of the Treasury official, Spencer M Clark, put his own face on a note valued at five cents, angering lawmakers.

However, during his first term, Trump signed legislation known as the Circulating Collection Coin Redesign Act of 2020 (CCRA), which gave the Treasury the authority to mint $1 coins “with designs emblematic of the United States semiquincentennial”.

That law prohibits the portrait of “any person, living or dead” on the reverse side of those coins. However, Trump’s image on the new $1 coin appears on the obverse — the front of the coin — meaning it likely complies with the law.

What opposition does this face?

Late last year, Democratic Senators Catherine Cortez Masto of Nevada and Jeff Merkley of Oregon introduced legislation that would block Trump from placing his face on the coin.

“While monarchs put their faces on coins, America has never had and never will have a king,” Cortez Masto said. “Our legislation would codify this country’s long-standing tradition of not putting living Presidents on American coins. Congress must pass it without delay.” Their bill did not become law.

The Treasury Department and US Mint did not immediately respond to Al Jazeera’s request for comment.

The United States Equal Employment Opportunity Commission (EEOC) has found that the networking technology company Cisco may have violated the civil rights of Middle Eastern and Muslim employees amid a wave of anti-Arab and anti-Muslim comments on internal messaging platforms at the company.

In June, the EEOC, which is tasked with enforcing the US’s anti-discrimination laws, said Cisco subjected its employees to a hostile work environment, according to a letter of determination obtained by Al Jazeera.

The letter, which was first reported by Politico Pro, stemmed from a complaint filed with the EEOC in December 2024 by a group of Cisco employees called “Bridge to Humanity” (B2H), who had been voicing concerns that the company’s technology was provided to the Israeli military for use in Israel’s genocidal war on Gaza.

Several months earlier, the group of employees had sent a separate open letter calling on the San Jose, California-based company to stop providing its technology to the Israeli government. The document was signed by more than 1,700 of the company’s more than 86,000 employees.

In its December complaint filed with the EEOC, the employees alleged that Cisco had removed the open letter from an internal site and that it was “under review”, and that subsequently, many of the signatories were harassed. Among the allegations was a remark that one employee had told another to “quit living”.

The employees also alleged that Cisco had not responded to their complaints until they created a 76-page report cataloguing the hate comments they had been subjected to in an internal messaging group called Connected Jewish Network.

The report, which was provided to Cisco’s Employee Relations and Ethics offices, according to documents made public by The Guardian, outlined the waves of hate comments. In one of these, from November 2023, an unnamed employee had said that “Israeli passersby killed 2 members of a Palestinian family in Jerusalem this morning, and I for one am extremely grateful.”

“These Cisconians have, among other things, repeatedly glorified violence, joked about sending people to their deaths, likened Palestinians and those with opposing viewpoints to animals, labeled Palestinians, Arabs, and Muslims as murderous, violent terrorists, joked about respecting a person’s gender identity,” the 76-page report said. It added that the Connected Jewish Network was not even a “safe space for all of our Jewish colleagues”.

The EEOC’s determination said that the company had retaliated against one unnamed staffer for “her involvement in pro-Palestine efforts by terminating the individual”.

‘Important step’

The employees’ complaint with the EEOC was filed by Legal Aid at Work, a nonprofit legal services organisation.

“The EEOC’s determination is particularly significant because it appears to be the first time in any legal context where a governmental or judicial finding has sided with Big Tech workers who have collectively organised to fight for corporate accountability around their employers’ sales of their technology to Israel,” Christopher Ho, director of the national origin and immigrants’ rights programme at Legal Aid at Work, told Al Jazeera.

Advocacy groups like the Council on American-Islamic Relations (CAIR) praised the decision.

“The EEOC’s finding is an important step toward accountability and a reminder that federal civil rights protections apply equally to Muslim, Arab, Palestinian, and other employees who speak out about Palestine,” civil rights managing lawyer Jeffrey Wang at CAIR’s San Francisco Bay-area chapter said in a statement.

“Employers have a legal responsibility to address harassment and discrimination fairly and consistently. Workers should not have to fear retaliation or a hostile work environment because of their religion, national origin, or association with protected communities.”

According to reporting by The Guardian, although the EEOC issues its determination in June, the agency’s mediation with the company has “not gone anywhere”.

Legal Aid at Work told Al Jazeera that it has also submitted a complaint against Cisco to the National Labor Relations Board (NLRB) and the California Labor Commissioner.

“[The complaints] allege, respectively, that Cisco unlawfully interfered with our clients’ federally protected right to engage in concerted activity to improve working conditions, and unlawfully interfered with their right to engage in political activities that is protected by the California Labor Code. Both these complaints are still pending at the respective agencies,” Ho said.

Al Jazeera reached out to the EEOC for comment.

“Under federal law, both charges filed with, and charge inquiries made to the EEOC are confidential. The EEOC can neither confirm nor deny the existence of any charge or charge inquiry,” an EEOC spokesperson said.

Cisco did not respond to Al Jazeera’s request for comment.