Economy

The probe comes as the US government seeks additional leverage against Beijing amid escalating trade tensions.

The United States has launched an investigation into whether China is out of compliance with a 2020 trade deal they struck together, as trade tensions ratchet up between the world’s two largest economies.

US Trade Representative Jamieson Greer announced the investigation on Friday, as President Donald Trump travels to Asia to meet with his Chinese counterpart, Xi Jinping. China denies that it has failed to abide by the deal.

“China has scrupulously fulfilled its obligations in the Phase One Economic and Trade Agreement,” a spokesperson for the Chinese embassy in Washington said in a social media post.

The probe into unfair trade practices could grant President Trump greater authority to impose more tariffs on China, which he has hit with massive trade duties during his second term in office.

“The administration seems to be looking for new sources of leverage to use against Beijing, while adding another pressure point to get China to buy more US soybeans as well as other goods,” Wendy Cutler, a former US trade negotiator who is now vice president at the Asia Society Policy Institute, told The Associated Press news agency.

The “Phase One” deal came at the end of Trump’s first term in office in 2020, when the US imposed a series of tariffs on China in the name of bringing greater “balance” to their commercial exchange.

In that agreement, Beijing agreed to buy more US agricultural and manufacturing goods.

A Federal Register notice (PDF) from the Office of the US Trade Representative alleges that China has not followed up on that promise or others related to intellectual property protections, forced technology transfers or financial services.

September, for instance, marked the first month since 2018 that China imported no soya beans from US farmers.

“The initiation of this investigation underscores the Trump Administration’s resolve to hold China to its Phase One Agreement commitments, protect American farmers, ranchers, workers, and innovators, and establish a more reciprocal trade relationship with China for the benefit of the American people,” Greer said in a statement.

A new round of US-China trade talks is set to take place on Saturday, and discussions will focus on China’s restrictions on the export of rare earth metals, essential for many US tech products.

Last year, Reliance Industries Ltd signed a deal with Russian major Rosneft to import nearly 500,000 barrels per day.

India’s top importer of Russian oil, the conglomerate Reliance Industries Ltd, says it will abide by Western sanctions, ending several days of speculation about how the company will manage new measures targeting Russia’s two largest oil companies.

Reliance “will be adapting the refinery operations to meet the compliance requirements”, a company spokesperson said in a statement on Friday, while maintaining its relationships with suppliers.

“Whenever there is any guidance from the Indian Government in this respect, as always, we will be complying fully,” the statement added.

On Wednesday, the United States Treasury Office of Foreign Assets Control (OFAC) designated Russian majors Rosneft and Lukoil for the first time as President Donald Trump becomes increasingly frustrated with Russia’s unremitting war on Ukraine.

US Secretary of the Treasury Scott Bessent said the move was the result of Russian President Vladimir Putin’s “refusal to end this senseless war” and encouraged allies to adhere to the new sanctions.

The following day, the European Union adopted its 19th package of measures against Russia, which includes a full transaction ban on Rosneft. The EU has previously said that, starting January 21, it will not receive fuel imports from refineries that received or processed Russian oil 60 days prior to shipping.

Reliance, chaired by billionaire businessman Mukesh Ambani, operates the world’s biggest refining complex in western Gujarat. The company has purchased roughly half of the 1.7-1.8 million barrels per day (bpd) of discounted Russian crude shipped to India, the news agency Press Trust of India reported this week.

In 2024, Reliance signed a 10-year deal with Rosneft to buy nearly 500,000 bpd, Reuters reported at the time. It also buys Russian oil from intermediaries.

Reliance did not offer details on how, exactly, it planned to navigate the sanctions – nor the fate of the 2024 Rosneft agreement – but emphasised it would comply with European import requirements.

“Reliance is confident its time-tested, diversified crude sourcing strategy will continue to ensure stability and reliability in its refinery operations for meeting the domestic and export requirements, including to Europe,” the company spokesperson said.

The sanctions also arrive as India navigates the fallout from Trump’s tariffs on Indian exports, which rose to 50 percent starting in August as a penalty for importing Russian oil. China and India are the world’s largest importers of Russian crude.

Trump has claimed multiple times over the past month that India has agreed to stop buying Russian oil as part of a broader trade deal, an assertion the Indian government has not confirmed.

Neither India’s Ministry of External Affairs nor oil ministries have responded since the sanctions were announced on Wednesday.

Oct. 24 (UPI) — Japan’s new Prime Minister Sanae Takaichi delivered her first policy speech to the parliament Friday, focusing on economic security and boosting defense spending.

Takaichi, 64, became prime minister on Tuesday and is the first woman to lead Japan. She is the leader of the Liberal Democratic Party, which is conservative and nationalist.

She plans to pursue aggressive fiscal spending to revitalize Japan’s economy and boost defense spending to address security challenges, she said in her speech Friday, Kyodo reported.

“Wage growth outpacing inflation is necessary, but simply leaving the burden to business will only make it harder for them,” The Japan Times reported Takaichi said. She said her government will soon create an economic stimulus package backed by a supplementary budget.

Takaichi said her administration will tackle rising costs of living as a “top priority,” and said she will raise defense spending to 2% of the gross domestic product by March, two years ahead of target.

“I will turn (people’s) anxieties about the present and future into hope and build a strong economy,” Takaichi said. “We need to proactively promote the fundamental strengthening of our nation’s defense capabilities” to deal with “various changes in the security environment,” Takaichi said.

She said she will abolish the provisional gasoline tax rate, which was a campaign promise, to help reduce inflation. The prime minister said she would do it during the current session, which goes through Dec. 17. That tax has been in place since 1974.

Lifting the nontaxable income level from $6,700 to $10,473 this year is another plan she put forward to boost the economy.

Addressing another campaign promise, she said the government will begin discussions on creating a second capital to be a backup in a crisis. This was a pet project of the JIP, the far right political party with which she and the LDP formed a coalition. Called the Osaka Metropolis Plan, its goal is to reduce the concentration of power in Tokyo, Japan Wire said.

Kuala Lumpur, Malaysia – When US President Donald Trump lands in Malaysia for Southeast Asia’s headline summit this weekend, he will be delivering Malaysian Prime Minister Anwar Ibrahim a diplomatic coup.

US presidents rarely visit Malaysia, a multiracial nation of 35 million people sandwiched between Thailand and Singapore, which for decades has maintained a policy of not picking sides in rivalries between great powers.

Trump is just the third US leader to travel to the Southeast Asian country, which is hosting a Sunday-to-Tuesday summit for the Association of Southeast Asian Nations (ASEAN), following visits by former US Presidents Barack Obama and Lyndon B Johnson.

After skipping ASEAN summits in 2018, 2019 and 2020, Trump, whose disdain for multilateralism is renowned, will be attending the gathering of Southeast Asian nations for just the second time.

The US president will be joined by a host of high-profile leaders from non-ASEAN countries, including Japanese Prime Minister Sanae Takaichi, Brazilian President Luiz Inacio Lula da Silva, and South African President Cyril Ramaphosa.

Opting not to attend are Indian Prime Minister Narendra Modi, Russian President Vladimir Putin, and Chinese President Xi Jinping, who Trump is expected to meet in South Korea at next week’s Asia-Pacific Economic Cooperation (APEC) summit.

Trump’s visit, in many ways, is emblematic of the delicate balancing act that Anwar’s government has sought to maintain as Malaysia navigates the headwinds of the heated rivalry between the US and China.

Malaysia is deeply entwined with both the US and Chinese economies.

The US, which has a large footprint in Malaysia’s tech and oil and gas industries, was the Southeast Asian country’s top foreign investor and third-biggest trading partner in 2024.

China, a major purchaser of Malaysian electronics and palm oil, the same year took the top spot in trade and was third for investment.

But Malaysia’s efforts to walk a fine line between Washington and Beijing have become increasingly fraught as the superpowers roll out tit-for-tat tariffs and export controls while butting heads over regional flashpoints such as Taiwan and the South China Sea.

“Optimally, Malaysia wants to productively engage both China and the US on a variety of issues,” said Thomas Daniel, an analyst at the Institute of Strategic & International Studies in Kuala Lumpur.

“It is in our interest,” Daniel told Al Jazeera.

Anwar has cast Trump’s visit as a chance to bolster economic ties, champion regional peace and stability, and elevate ASEAN’s standing on the international stage.

Anwar has also pledged to use the rare opportunity for face time with Trump to constructively raise points of difference between Washington and Kuala Lumpur, particularly the Palestinian cause.

“The through-line is autonomy: avoid entanglement, maximise options, and extract benefits from both poles without becoming anyone’s proxy,” Awang Azman Awang Pawi, a professor at the University of Malaya, told Al Jazeera.

During Trump’s visit, US tariffs on Malaysia, currently set at 19 percent, and China’s mooted export controls on rare earths are expected to be high on the agenda.

For Malaysia, the priority is preserving “rules-based” trade that allows for countries to deepen economic ties despite their political differences, said Mohd Ramlan Mohd Arshad, a senior lecturer at the MARA University of Technology in Shah Alam, near Kuala Lumpur.

A prolonged economic cold war between the US and China is the “worst thing” that could happen to Malaysia, Arshad told Al Jazeera.

Trump, who has made no secret of his ambitions for the Nobel Peace Prize, is also expected to witness the signing of a peace accord between Thailand and Cambodia, which engaged in a brief border conflict in July that left at least 38 people dead.

For Anwar, who has led a multiracial coalition of parties with diverse and competing interests since 2022, the balancing act also involves political considerations at home.

US support for Israel’s war in Gaza has been a bone of contention in Muslim-majority Malaysia, where the plight of Palestinians has inspired frequent public protests.

In the run-up to the summit, critics have demanded that Anwar rescind Trump’s invitation over his role in supporting the war, which a United Nations commission of inquiry last month determined to constitute genocide.

“A person like Trump, no matter how powerful, should not be welcomed in Malaysia,” former Prime Minister Mahathir Mohamad, Anwar’s former mentor-turned-nemesis, said in a video message last month.

Defending the invitation, Anwar has stressed his view of diplomacy as “practical work” for advancing his country’s interests “in an imperfect world”.

“It demands balance, discipline, and the courage to stay the course even when the ground shifts beneath us,” he told a conference in Kuala Lumpur earlier this month.

As a small power, Malaysia has always put pragmatism at the centre of its foreign policy, said Sharifah Munirah Alatas, an international relations lecturer at the National University of Malaysia.

“Anwar and Malaysia cannot afford to do otherwise,” Alatas told Al Jazeera.

“And given the current highly unpredictable Sino-American tension induced by the Trump 2.0 era, ASEAN will remain actively non-aligned, without taking sides.”

Awang Azman, the University of Malaya professor, said that while Trump’s visit will elevate Malaysia and ASEAN’s profile by itself, the true test of the summit’s success will be tangible outcomes on issues such as the Thailand-Cambodia conflict and trade.

“It’s not just a photo op if a ceasefire accord and concrete trade language land on paper,” Awang Azman said.

“If either track stalls, the visit is still symbolically significant – given the rarity of US presidential trips to Malaysia – but the narrative will revert to optics over outcomes.”

Petro, however, did acknowledge that a disruption in the two countries’ military cooperation could have serious consequences.

Colombia’s President Gustavo Petro has indicated that a suspension of aid from the United States would mean little to his country, but that changes to military funding could have an effect.

“What happens if they take away aid? In my opinion, nothing,” Petro told journalists on Thursday, adding that aid funding often moved through US agencies and employed Americans.

But a cut to military cooperation would matter, he added.

“Now, in military aid, we would have some problems,” Petro said, adding that the loss of US helicopters would have the gravest impact.

US President Donald Trump had threatened over the weekend to raise tariffs on Colombia and said on Wednesday that all funding to the country has been halted.

Colombia was once among the largest recipients of US aid in the Western Hemisphere, but the flow of money was suddenly curtailed this year by the shuttering of USAID, the government’s humanitarian assistance arm. Military cooperation has continued.

The Trump administration has already “decertified” Colombia’s efforts to fight drug trafficking, paving the way for potential further cuts, but some US military personnel remain in Colombia, and the two countries continue to share intelligence.

Petro has objected to the US military’s strikes against vessels in the Caribbean, which have killed dozens of people and inflamed tensions in the region. Many legal experts and human rights activists have also condemned the actions.

Trump has responded by calling Petro an “illegal drug leader” and a “bad guy” – language Petro’s government says is offensive.

Petro has recalled his government’s ambassador from Washington, DC, but he nevertheless met with the US’s charge d’affaires in Bogota late on Sunday.

Although Trump has not announced any additional tariffs on top of the 10-percent rate already assessed on Colombian goods, he said on Wednesday he may take serious action against the country.

Petro said Trump is unlikely to put tariffs on oil and coal exports, which represent 60 percent of Colombia’s exports to the US, while the effect of tariffs on other industries could be mitigated by seeking alternative markets.

An increase in tariffs would flip a long-established US policy stance that free trade can make legitimate exports more attractive than drug trafficking, and analysts say more duties could eventually bolster drug trafficking.

Although his government has struggled to take control of major hubs for rebel and criminal activity, Petro said it has made record seizures of 2,800 metric tonnes of cocaine in three years, partly through increased efforts at Pacific ports where container ships are used for smuggling.

He also repeated an accusation that Trump’s actions are intended to boost the far right in Colombia in next year’s legislative and presidential elections.

EU leaders had hoped to agree on a plan to fund a loan of 140 billion euros to bolster Ukraine.

Leaders across the European Union have agreed to help Ukraine fund its fight against Russia’s invasion, but stopped short of approving a plan that would draw from frozen Russian assets to do so, after Belgium raised objections.

EU leaders met in Brussels on Thursday to discuss Ukraine’s “pressing financial needs” for the next two years. Many leaders had hoped the talks would clear the way for a so-called “reparation loan”, which would use frozen Russian assets held by the Belgian financial institution Euroclear to fund a loan of 140 billion euros ($163.3bn) for Ukraine.

The EU froze about 200 billion euros ($232.4bn) of Russian central bank assets after the country launched its full-scale invasion of Ukraine in 2022. In order to use the assets to fund Ukraine’s war effort, the European Commission, the EU’s executive, has floated a complex financial manoeuvre that involves the EU borrowing matured funds from Euroclear.

That money would then, in turn, be loaned to Ukraine, on the understanding that Kyiv would only repay the loan if Russia pays reparations.

The scheme would be “fully guaranteed” by the EU’s 27 member states – who would have to ensure repayment themselves to Euroclear if they eventually decided Russia could reclaim the assets without paying reparations. Belgium, the home of Euroclear, objected to this plan on Thursday, with Prime Minister Bart De Wever calling its legality into question.

Russia has described the idea as an illegal seizure of property and warned of retaliation.

Following Thursday’s political wrangling, a text approved by all the leaders – except Hungary’s Prime Minister Viktor Orban – was watered down from previous drafts to call for “options for financial support based on an assessment of Ukraine’s financing needs.” Those options will be presented to European leaders at their next summit in December.

“Russia’s assets should remain immobilised until Russia ceases its war of aggression against Ukraine and compensates it for the damage caused by its war,” the declaration added.

Earlier, Ukrainian President Volodymyr Zelenskyy, a guest at the summit, had urged a quick passage of the plan for the loan.

“Anyone who delays the decision on the full use of frozen Russian assets is not only limiting our defence, but also slowing down the EU’s own progress,” he told the EU leaders, saying Kyiv would use a significant part of the funds to buy European weapons.

Earlier, the EU adopted a new round of sweeping sanctions against Russian energy exports on Thursday, as well, banning liquefied natural gas imports.

The move followed United States President Donald Trump’s announcement on Wednesday that Russia’s two biggest oil companies would face US sanctions.

Russian President Vladimir Putin on Thursday struck a defiant tone over the sanctions, saying they were an “unfriendly act”, and that Russia would not bend under pressure.

For decades, China powered spectacular growth through exports, infrastructure and cheap credit. But that old model is running out of steam, even as it hits a record trade surplus with the world this year.

The property sector is drowning in debt, confidence is fading, and consumers are holding back. Now, Beijing faces its toughest test yet: how to keep the world’s second-largest economy growing without relying much on the engines that once drove it.

A new five-year plan promises “high-quality growth” built on technology and self-reliance. But trade tensions with the United States could make the climb even steeper.

Washington has announced new sanctions against Russia’s two largest oil companies, Rosneft and Lukoil, in an effort to pressure Moscow to agree to a peace deal in Ukraine. This marks the first time the current Trump administration has imposed direct sanctions on Russia.

Speaking alongside Nato Secretary-General Mark Rutte in the Oval Office on Wednesday, US President Donald Trump said he hoped the sanctions would not need to be in place for long, but expressed growing frustration with stalled truce negotiations.

“Every time I speak to Vladimir [Putin], I have good conversations and then they don’t go anywhere. They just don’t go anywhere,” Trump said, shortly after a planned in-person meeting with his Russian counterpart, Vladimir Putin, in Budapest was cancelled.

Trump’s move is designed to cut off vital oil revenues, which help fund Russia’s ongoing war efforts. Earlier on Wednesday, Russia unleashed a new bombardment on Ukraine’s capital, Kyiv, killing at least seven people, including children.

US Treasury Secretary Scott Bessent said the new sanctions were necessary because of “Putin’s refusal to end this senseless war”. He said that Rosneft and Lukoil fund the Kremlin’s “war machine”.

How have Rosneft and Lukoil been sanctioned?

The new measures will freeze assets owned by Rosneft and Lukoil in the US, and bar US entities from engaging in business with them. Thirty subsidiaries owned by Rosneft and Lukoil have also been sanctioned.

Rosneft, which is controlled by the Kremlin, is Russia’s second-largest company in terms of revenue, behind natural gas giant Gazprom. Lukoil is Russia’s third-largest company and its biggest non-state enterprise.

Between them, the two groups export 3.1 million barrels of oil per day, or 70 percent of Russia’s overseas crude oil sales. Rosneft alone is responsible for nearly half of Russia’s oil production, which in all makes up 6 percent of global output.

In recent years, both companies have been hit by rolling European sanctions and reduced oil prices. In September, Rosneft reported a 68 percent year-on-year drop in net income for the first half of 2025. Lukoil posted an almost 27 percent fall in profits for 2024.

Meanwhile, last week, the United Kingdom unveiled sanctions on the two oil majors. Elsewhere, the European Union looks set to announce its 19th package of penalties on Moscow later today, including a ban on imports of Russian liquefied natural gas.

How much impact will these sanctions have?

In 2022, Russian oil groups (including Rosneft and Lukoil) were able to offset some of the effects of sanctions by pivoting exports from Europe to Asia, and also using a “shadow fleet” of hard-to-detect tankers with no ties to Western financial or insurance groups.

China and India quickly replaced the EU as Russia’s biggest oil consumers. Last year, China imported a record 109 million tonnes of Russian crude, representing almost 20 percent of its total energy imports. India imported 88 million tonnes of Russian oil in 2024.

In both cases, these are orders of magnitude higher than before 2022, when Western countries started to tighten their sanctions regime on Russia. At the end of 2021, China imported roughly 79.6 million tonnes of Russian crude. India imported just 0.42 million tonnes.

Trump has repeatedly urged Beijing and New Delhi to halt Russian energy purchases. In August, he levied an additional 25 percent trade tariff on India because of its continued purchase of discounted Russian oil. He has so far demurred from a similar move against China.

However, Trump’s new sanctions are likely to place pressure on foreign financial groups which do business with Rosneft and Lukoil, including the banking intermediaries which facilitate sales of Russian oil in China and India.

“Engaging in certain transactions involving the persons designated today may risk the imposition of secondary sanctions on participating foreign financial institutions,” the US Treasury Department’s press release on Wednesday’s sanctions says.

As a result, the new restrictions may force buyers to shift to alternative suppliers or pay higher prices. Though India and China may not be the direct targets of these latest restrictions, their oil supply chains and trading costs are likely to come under increased pressure.

“The big thing here is the secondary sanctions,” Felipe Pohlmann Gonzaga, a Switzerland-based commodity trader, told Al Jazeera. “Any bank that facilitates Russian oil sales and with exposure to the US financial system could be subject.”

However, he added, “I don’t think this will be the driver in ending the war, as Russia will continue selling oil. There are always people out there willing to take the risk to beat sanctions.

“These latest restrictions will make Chinese and Indian players more reluctant to buy Russian oil – many won’t want to lose access to the American financial system. [But] it won’t stop it completely.”

According to Bloomberg, several senior refinery executives in India – who asked not to be named due to the sensitivity of the issue – said the restrictions would make it impossible for oil purchases to continue.

On Wednesday, Trump said that he would raise concerns about China’s continued purchases of Russian oil during his talk with President Xi Jinping at the 2025 Asia-Pacific Economic Cooperation summit in South Korea next week.

Have oil prices been affected?

Oil prices rallied after Trump announced US sanctions. Brent – the international crude oil benchmark – rose nearly 4 percent to $65 a barrel on Thursday. The US Benchmark, West Texas Intermediate, jumped more than 5 percent to nearly $60 per barrel.

Pohlmann Gonzaga, however, predicted that the “market will correct from this 5 percent over-jump. You have to recall that sentiment in energy markets is still negative due to the gloomy [global] economic backdrop.”

The figure amounts to roughly $111,000 of debt for every person in the US, think tank says.

The United States national debt has topped $38 trillion, as the gap between government spending and revenues in the world’s largest economy expands at a rapid pace.

The US Department of the Treasury included the staggering figure in its latest report on the nation’s finances, with the debt standing at $38,019,813 as of Tuesday.

The figure amounts to roughly $111,000 of debt for every person in the US, and is equivalent to the value of the economies of China, India, Japan, Germany and the United Kingdom combined, according to the Peter G Peterson Foundation, a Washington, DC-based think tank.

The milestone comes a little over two months after debt in the US surpassed $37 trillion in mid-August. The debt stood at $36 trillion in November 2024, and $35 trillion that July.

Michael A Peterson, CEO of the Peter G Peterson Foundation, said US lawmakers were failing to live up to their “basic fiscal duties”.

“Adding trillion after trillion to the debt and budgeting-by-crisis is no way for a great nation like America to run its finances,” Peterson said in a statement.

“Instead of letting the debt clock tick higher and higher, lawmakers should take advantage of the many responsible reforms that would put our nation on a stronger path for the future.”

In May, Moody’s ratings downgraded the US government’s credit rating from Aaa to Aa1, citing the failure of successive administrations to “reverse the trend of large annual fiscal deficits and growing interest costs”.

The move followed similar downgrades by rating agencies Fitch and Standard & Poor’s in 2011 and 2023, respectively.

While there is debate among economists about how much debt the US can take on before triggering a financial crisis, there is widespread agreement that the current trajectory is unsustainable.

In a 2023 analysis, economists at the Penn Wharton Budget Model estimated that financial markets would not tolerate US debt levels above 200 percent of gross domestic product (GDP).

The nonpartisan Congressional Budget Office has estimated that the debt could reach 200 percent of GDP by 2047, in part due to sweeping tax cuts included in US President Donald Trump’s One Big Beautiful Bill Act.

The lawsuit comes amid growing concerns about how AI fuels the spread of misinformation.

Conservative activist Robby Starbuck sued Google, alleging that the tech giant’s artificial intelligence systems generated “outrageously false” information about him.

On Wednesday, Starbuck said in the lawsuit, filed in Delaware state court, that Google’s AI systems falsely called him a “child rapist,” “serial sexual abuser” and “shooter” in response to user queries and delivered defamatory statements to millions of users.

Google spokesperson Jose Castaneda said most of the claims were related to mistaken “hallucinations” from Google’s Bard large language model that the company worked to address in 2023.

“Hallucinations are a well-known issue for all LLMs, which we disclose and work hard to minimise,” Castaneda said. “But as everyone knows, if you’re creative enough, you can prompt a chatbot to say something misleading.”

Starbuck is best known for opposing diversity, equity and inclusion initiatives.

“No one — regardless of political beliefs — should ever experience this,” he said in a statement about the lawsuit. “Now is the time for all of us to demand transparent, unbiased AI that cannot be weaponized to harm people.”

Starbuck made similar allegations against Meta Platforms in a separate lawsuit in April. Starbuck and Meta settled their dispute in August, and Starbuck advised the company on AI issues under the settlement.

According to Wednesday’s complaint, Starbuck learned in December 2023 that Bard had falsely connected him with white nationalist Richard Spencer. The lawsuit said that Bard cited fabricated sources and that Google failed to address the statements after Starbuck contacted the company.

Starbuck’s lawsuit also said that Google’s Gemma chatbot disseminated false sexual assault allegations against him in August based on fictitious sources. Starbuck also alleged the chatbot said that he committed spousal abuse, attended the January 6 Capitol riots and appeared in the Jeffrey Epstein files, among other things.

Starbuck said he has been approached by people who believed some of the false accusations and that they could lead to increased threats on his life, noting the recent assassination of conservative activist Charlie Kirk.

Starbuck asked the court for at least $15m in damages.

Starbuck lawsuit comes amid growing concerns that AI-generated content has become easy to create and can facilitate the spread of misinformation. As Al Jazeera previously reported, Google’s VEO3 AI video maker allowed users to make deceptive videos of news events.

Alphabet — Google’s parent company’s stock is relatively flat on the news of the lawsuit. As of 2:30pm in New York (18:30 GMT), it is up by 0.06 percent.

Economists credit US President Donald Trump’s tariff campaign with reducing trade between Germany and the US, its top trading partner last year.

China overtook the United States as Germany’s largest trading partner during the first eight months of 2025, preliminary data from the German statistics office has shown.

The data indicated that German imports and exports with China totalled $190.7bn (163.4 billion euros) from January to August, while trade with the US amounted to $189bn (162.8 billion euros), according to Reuters calculations.

The US was Germany’s top trading partner in 2024, ending an eight-year streak for China. Germany had sought to reduce its reliance on China, citing political differences and accusing Beijing of unfair practices.

But trade dynamics shifted again this year, with US President Donald Trump’s return to the White House and his renewed tariff campaign.

The tariffs have pushed down German exports to the US, which fell 7.4 percent in the first eight months of the year compared with 2024.

In August, exports to the US also fell 23.5 percent year-on-year, showing that the trend is accelerating.

“There is no question that US tariff and trade policy is an important reason for the decline in sales,” said Dirk Jandura, president of the BGA foreign trade association.

Jandura added that US demand for classic German export goods, such as cars, machinery and chemicals, had fallen.

With the ongoing tariff threat and the stronger euro, German exports to the US are unlikely to rebound any time soon, said Carsten Brzeski, global head of macro at the financial institution ING.

Exports to China fell even more sharply than those to the US, dropping 13.5 percent year-on-year to $63.5bn (54.7 billion euros) in the first eight months of 2025.

By contrast, imports from China rose 8.3 percent to $126.4bn (108.8 billion euros).

“The renewed import boom from China is worrying – particularly as data shows that these imports come at dumping prices,” said Brzeski.

He warned that the trend not only increases German dependence on China, but could add to stress in key industries where China has become a major rival.

“In the absence of economic dynamism at home, some in Germany may now be troubled by any shifts on world markets,” said Salomon Fiedler, an economist at the bank Berenberg.

Relations between the United States and China are tense, once again, with experts saying that the administration of US President Donald Trump “doesn’t quite know how to deal with China”.

The latest flare-up took place when Beijing, on October 9, expanded its restrictions on the export of rare-earth metals, increasing the number of elements on the list.

China has the largest reserves and the majority of processing facilities of rare-earth metals that are used in a range of daily and critical industries like electric vehicles, smartphones, laptops and defence equipment.

In a first, it also required countries to have a licence to export rare-earth magnets and certain semiconductor materials that contain even trace amounts of minerals sourced from China or produced using Chinese technology.

China’s actions on rare-earths also came after the US expanded its Entity List, a trade restriction list that consists of certain foreign persons, entities or government, further limiting China’s access to the most advanced semiconductor chips, and added levies on China-linked ships both to boost the US shipbuilding industry and loosen China’s hold on the global shipping trade. China retaliated by applying its own charges on US-owned, operated, built or flagged vessels.

“For the US, its actions on chip exports and shipping industry fees were not related to the trade deal with China,” said Vina Nadjibulla, vice president for research and strategy at the Asia Pacific Foundation of Canada.

Since then, the two countries have also been in an “information war”, said Nadjibulla, each blaming the other for holding the world hostage with its policies.

But beyond the rhetoric, the world is seeing China really up its game.

“For the first time, China is doing this extra-terrestrial action that applies to other countries as well [with its amped up export restrictions on rare-earths]. They are prepared to match every US escalation, and have the US back down,” Nadjibulla said. “This is a very different kind of a trade war than we were experiencing even three months ago.”

This was a “power play” by China in the run-up to a planned meeting later this month between Trump and Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation summit in South Korea because “China has decided that the leverage is on their side,” said Dexter Tiff Roberts, a nonresident senior fellow at the Atlantic Council Global China Hub, pointing out that after some initial noise with Trump saying there was no reason to meet Xi any longer, the meeting is back on.

“If you look at the approach of the Trump administration right now, they are all over the place,” said Roberts.

Roberts was referring not only to the multiple tariff threats that the US has issued both on China and on specific industries and the carve-outs that were soon announced on those, but also in its statements on the Trump-Xi meeting, with Trump saying it was not happening, only to reverse that two days later.

“The Trump administration doesn’t quite know how to deal with China,” said Roberts. “They don’t understand that China is willing to accept a lot of pain,” and will not be easily cowed by US threats.

Beijing, on the other hand, has realised that Trump is determined to get his big deal with China and wants his state visit to seal that, maybe because “he feels that is important to his credentials as a big deal maker,” added Roberts, but that he cannot get there without giving more to China.

“China saw that they could push harder in the lead-up to the meeting.”

Wei Liang, a professor at the Middlebury Institute of International Studies who specialises in international trade and Chinese economic foreign policy, agrees.

“Trump has a track record of TACO,” she said, referring to a term coined by a Financial Times columnist in May, which stands for “Trump always chickens out” in reference to his announcing tariffs and then carving out exemptions and pushing out implementation dates.

“He cares more than any other US president [about] stock market reactions, so definitely will be more flexible to making concessions. This is the inconsistency that has been captured by his negotiation partners,” Liang said.

China’s defiant stance also comes at a time of its own political concerns, Liang added.

While the domestic economy is “a black box” with no reliable data available on growth, employment and other criteria, the consensus among China experts is that the country has been hit by the tariffs, economic growth has slowed, and unemployment has ramped up.

As China started its four-day fourth plenary session on Monday where it plans to approve the draft of its next five-year national economic and social development plan, Xi can use the moment to tell his domestic audience that the country’s problems are stemming from Trump’s policies and the whole world is suffering because of those tariffs and it’s not related to Chinese policies, Liang said.

A possible decoupling

All of this also signals that Beijing seems to be prepared to “decouple” from the US more than ever, a significant change in mentality, as, in the past, the standard response to the idea was that it would be a “lose-lose” situation for both countries, Liang told Al Jazeera.

But in the last few years, China has diversified its exports to other countries, especially those in its Belt and Road Initiative, the ambitious infrastructure project that it launched in 2013 to link East Asia through Europe and has since expanded to Africa, Oceania and Latin America.

Even when it comes to things that it needs from the US – soya beans, aeroplanes and high-tech chip equipment – it can find other suppliers or has learned to work around that need, as is the case for the chip equipment, Liang pointed out.

In the meantime, especially in the years since the US-China trade war started under Trump as president in his first term, China has brought in a set of national security laws – including its version of the US Entity List, through which it is setting limits on those exports, Nadjibulla said.

“Everybody should have been preparing the way the Chinese have been preparing. We breathed a sigh of relief when there was a change in government [in the US after the first Trump administration], but China kept preparing,” she said.

“This should be a wake-up call for all countries to find other sources for its needs. Everyone should be redoubling their efforts to diversify, because we have now seen the Chinese playbook.”

Appointment clinched via a last-minute coalition deal, but government remains without a majority, leaving the risk of instability.

Japan’s parliament has elected ultraconservative Sanae Takaichi as the nation’s first female prime minister.

A protege of assassinated former Prime Minister Shinzo Abe, Takaichi received  237 votes in the 465-seat lower house of parliament on Tuesday to confirm her in the role.

The victory follows a last-minute coalition deal by her Liberal Democratic Party (LDP) with the right-wing Japan Innovation Party (JIP), also known as Ishin, on Monday. However, her government is still two seats short of a majority, suggesting a risk of instability.

Takaichi replaces Shigeru Ishiba, ending a three-month political vacuum and wrangling since the LDP – which has governed Japan for most of its post-war history – suffered a disastrous election loss in July.

Her victory marks a pivotal moment for a country where men still hold overwhelming sway. But it is also likely to usher in a sharper move to the right on immigration and social issues, with little expectation that it will help to promote gender equality or diversity.

Takaichi has stonewalled measures for women’s advancement. She supports the imperial family’s male-only succession and opposes same-sex marriage and allowing separate surnames for married couples.

The LDP had earlier lost its longtime partner, the Buddhist-backed Komeito, which has a more dovish and centrist stance.

Komeito ended the partnership due to its concerns that the LDP was not prepared to fight corruption.

“Political stability is essential right now,” Takaichi said at the signing ceremony with the JIP leader and Osaka Governor Hirofumi Yoshimura. “Without stability, we cannot push measures for a strong economy or diplomacy.”

JIP will not hold ministerial posts in Takaichi’s Cabinet until his party is confident about its partnership with the LDP, Yoshimura said.

After years of deflation, Japan is now grappling with rising prices, something that has caused public anger and fuelled support for opposition groups, including far-right upstarts.

Like Abe, Takaichi is expected to favour government spending to jumpstart the weakened economy. That has prompted a so-called “Takaichi trade” in the stock market, sending the Nikkei share average to record highs, the most recent on Tuesday.

But it has also caused investor unease about the government’s ability to pay for additional spending in a country where the debt load far outweighs annual output.

Shortly after the lower house vote, Takaichi’s elevation to prime minister was also approved by the less-powerful upper house. She will be sworn in as Japan’s 104th prime minister on Tuesday evening.

Takaichi is also running on a deadline, as she prepares for a major policy speech later this week, talks with United States President Donald Trump and regional summits.

The central bank said deal was part of a comprehensive strategy to help it respond to forex and capital markets volatility.

The Central Bank of the Argentinian Republic (BCRA) said it has signed a $20bn exchange rate stabilisation agreement with the United States Treasury Department, six days ahead of a key midterm election.

The central bank’s statement on Monday said the agreement sets forth terms for bilateral currency swap operations between the US and Argentina, but it provided no technical details.

The central bank said: “Such operations will allow the BCRA to expand its set of monetary and exchange rate policy instruments, including the liquidity of its international reserves”.

The Argentinian peso closed at a record low, down 1.7 percent on the day to end at 1,475 per dollar.

The BCRA said the pact was part of a comprehensive strategy to enhance its ability to respond to foreign exchange and capital markets volatility.

The US Treasury did not immediately respond to a request for details on the new swap line and has not issued its own statement about the arrangement.

US Secretary of the Treasury Scott Bessent said last week that the arrangement would be backed by International Monetary Fund Special Drawing Rights held in the Treasury’s Exchange Stabilization Fund that will be converted to dollars.

Bessent has said that the US would not put additional conditions on Argentina beyond President Javier Milei’s government continuing to pursue its fiscal austerity and economic reform programmes to foster more private-sector growth.

He has announced several US purchases of pesos in recent weeks, but has declined to disclose details.

Midterm vote

Argentinian Minister of Economy Luis Caputo said last week that he hoped the swap deal framework would be finalised before the October 26 midterm parliamentary vote, in which Milei’s party will seek to grow its minority presence in the legislature.

Milei, who has sought to solve Argentina’s economic woes through fiscal spending cuts and dramatically shrinking the size of government, has been handed a string of recent political defeats.

US President Donald Trump said last week that the US would not “waste our time” with Argentina if Milei’s party loses in the midterm vote. The comment briefly shocked local markets until Bessent clarified that continued US support depended on “good policies”, not necessarily the vote result.

He added that a positive result for Milei’s party would help block any policy repeal efforts.

The French bank will pay more than $20m to three plaintiffs amid allegations of human rights abuses.

BNP Paribas shares have tumbled as much as 10 percent after a United States jury found the French bank helped Sudan’s government commit genocide by providing banking services that violated American sanctions, raising questions about whether the lender will be exposed to further legal claims.

The bank’s shares were down on Monday morning in New York.

The federal jury in Manhattan on Friday ordered BNP Paribas to pay a combined $20.5m to three Sudanese plaintiffs who testified about human rights abuses perpetrated under former President Omar al-Bashir’s rule.

The Paris, France-based bank said it will appeal the verdict.

“This result is clearly wrong and ignores important evidence the bank was not permitted to introduce,” the company said in a statement on Monday.

Uncertainty about whether BNP Paribas could face further claims or penalties weighed on the bank’s shares on Monday, and would likely continue to do so, traders and analysts said.

The shares dropped as much as 10 percent at one point, and were last down 8.7 percent – set for their biggest daily fall since March 2023.

Lawyers for the three plaintiffs, who now reside in the US, said the verdict opens the door for more than 20,000 Sudanese refugees in the US to seek billions of dollars in damages from the French bank.

BNP said, “this verdict is specific to these three plaintiffs and should not have broader application. Any attempt to extrapolate is necessarily wrong as is any speculation regarding a potential settlement.”

Nonetheless, analysts say the news will likely drag on the bank’s shares in the coming months.

“A combination of a lack of visibility on the potential financial impact and next legal steps, a reminder of 2014 share price performance as well as a capital path that leaves relatively little room for error, is likely to hang over the shares until more visibility is provided,” analysts at RBC Capital Markets said in a note.

BNP Paribas in 2014 agreed to plead guilty and pay an $8.97bn penalty to settle US charges that it transferred billions of dollars for Sudanese, Iranian and Cuban entities subject to economic sanctions.

RBC said the bank’s shares underperformed the sector by 10 percent from the first litigation provision booked in early 2014 to the settlement in June 2014.

US President Donald Trump said the deal had been negotiated over the last four to five months.

United States President Donald Trump and Australian Prime Minister Anthony Albanese have signed an agreement on rare earth and critical minerals as China tightens control over global supply.

The two leaders signed the deal on Monday at the White House.

Trump said the agreement had been negotiated over four or five months. The two leaders will also discuss trade, submarines and military equipment, Trump said.

Albanese described it as an $8.5bn pipeline “that we have ready to go”.

The full terms of the agreement were not immediately available. The two leaders said part of the agreement had to do with processing of the minerals. Albanese said both countries will contribute $1bn over the next six months for joint projects.

China has the world’s largest rare earths reserves, according to the US Geological Survey data, but Australia also has significant reserves.

The two leaders also planned to discuss the $239.4bn agreement, reached in 2023 under then-US President Joe Biden, in which Australia is to buy US nuclear-powered submarines in 2032 before building a new submarine class with Britain.

US Navy Secretary John Phelan told the meeting the US and Australia were working very closely to improve the original framework for all three parties “and clarify some of the ambiguity that was in the prior agreement”.

Trump said these were “just minor details”.

“There shouldn’t be any more clarifications, because we’re just, we’re just going now full steam ahead, building,” Trump said.

Australian officials have said they are confident it will proceed, with Defence Minister Richard Marles last week saying he knew when the review would conclude.

China’s rare earth export controls

Ahead of Monday’s meeting between the two leaders, Australian officials have emphasised Canberra is paying its way under AUKUS — a trilateral military partnership between the US, Australia and the United Kingdom, contributing $2bn this year to boost production rates at US submarine shipyards, and preparing to maintain US Virginia-class submarines at its Indian Ocean naval base from 2027.

The delay of 10 months in an official meeting since Trump took office has caused some anxiety in Australia as the Pentagon urged Canberra to lift defence spending. The two leaders met briefly on the sidelines of the United Nations General Assembly in New York last month.

Australia is willing to sell shares in its planned strategic reserve of critical minerals to allies including Britain, as Western governments scramble to end their reliance on China for rare earths and minor metals.

Top US officials last week condemned Beijing’s expansion of rare earth export controls as a threat to global supply chains. China is the world’s biggest producer of the materials, which are vital for products ranging from electric vehicles to aircraft engines and military radars.

Resource-rich Australia, wanting to extract and process rare earths, put preferential access to its strategic reserve on the table in US trade negotiations in April.

For Scott Smith, the cuts to the Corporation For Public Broadcasting are existential.

He is the general manager of Allegheny Mountain Radio, which he runs alongside programme manager Heather Nidly. The funds were slashed as part of United States President Donald Trump’s vast tax cut and spending bill that was signed into law in July. As a result, the station, which has been on air for more than four decades, lost 65 percent of its funding.

“We are here to serve our communities and to fulfill our mission of giving them news, giving them entertainment, giving them emergency alerts and giving them school closings. We do lost and found pet notices. We do funeral announcements. We have a listing of community events that is read multiple times a day. We do weather forecasts. We’re a critical part of the community,” Smith told Al Jazeera.

The rescissions bill that Trump signed allows the US Congress to claw back funding that had been approved and pulls back $9bn in funding, including $1bn from the Corporation for Public Broadcasting (CFB). At the end of September, those funds officially dried up.

The money had already been allocated by the previous Congress to fund public media for 2026 and 2027. Now stations are scrambling to find ways to fill the holes.

The Trump administration has gone after news organisations that have presented any critical coverage of him, including the Wall Street Journal, after its coverage of a suggestive letter purportedly written by Trump to the late sex offender Jeffrey Epstein for his birthday. In September, he tried to sue The New York Times for allegedly being a “virtual mouthpiece” for the Democratic Party.

His leverage over public media is significant because that is partially funded by federal tax dollars. The White House first signed an executive order to defund public media in May. That was quickly blocked because funding decisions are made by Congress, not the White House.

Next, Trump pressured Congressional Republicans to put forth the rescissions bill that fulfilled the mission of his previous executive order. To justify his call for cuts, in May, the White House released a list of segments from NPR and PBS programmes that it says had liberal bias, as it included many segments about the experience of the trans community.

The White House also cited a report alleging PBS favoured Democrats. That report was from the openly partisan Media Research Center, which has a stated goal to promote conservative values.

A key, but overlooked, problem with the cuts is that they overwhelmingly harm stations that do not even cover the White House or much national politics at all.

Allegheny Mountain Radio (AMR) is one of those stations. Comprising three affiliates for three counties straddling the West Virginia and Virginia border, on their airwaves, listeners will find gospel, folk and country music, as well as coverage of local football games and town hall meetings.

AMR carries NPR’s national newscast and, more importantly, serves as the on-the-ground voice when severe weather hits.

Unlike in other regions of the county, there is no other alternative to get real-time local news. The nearest local news station is several hours away, separated by winding country roads. When there’s severe weather, AMR is the only way locals get vital information like road closure announcements because of floodwaters.

“Just a few years ago, we had a deluge of rain coming down and flooding parts of the county. At that point, when something like that happens, the radio station really is the only way to get that information out quickly to our listeners and let them know where it’s happening,” AMR programme manager Nidly told Al Jazeera.

AMR is in a part of the country where cellphone signal and wireless access are sparse because of its proximity to what is called the National Radio Quiet Zone (NRQZ) near the Green Bank Observatory, which limits the use of radio frequency and other signal methods so that they do not interfere with their equipment. This requires special equipment to point radio signals away from the observatory.

With the region’s low population density, there’s a limited business case for a station. But there is a case for public service. The community depends on AMR for emergency alerts – even on a personal level. During major storms, Smith said, people have shown up at their stations when their phones stopped working, asking if AMR could broadcast a message to let their family and friends know they were safe.

Despite their strong community focus, these stations may not benefit from the same level of donor support seen by larger public stations across the country, due to limited local enterprise and resources.

It is trying. In order to stay afloat, the station is actively soliciting donations on its website.

While small community stations – like those serving Bath and Pocahontas Counties in West Virginia, and Highland County, Virginia, through AMR – don’t produce national newscasts or air segments that ruffle feathers in Washington, they are still the ones that are most at risk of being hit hardest.

“Small stations like ours are the ones who will suffer because of these cuts. We feel like we are the baby that got thrown out with the bathwater because there’s so much emphasis on the talking points around NPR and PBS. It’s like the rest of us, the small community stations, have absolutely been forgotten in this equation,” Smith told Al Jazeera.

The cuts, however, hit stations across the US in big markets too. WNYC in New York City lost 4 percent of its funding. WBUR in Boston, San Francisco’s KLAW, and KERA in Dallas, Texas, all saw 5 percent cuts.

Stations like these have large donor bases or “listeners like you”, as their hosts say during pledge drives. Big market stations might be able to make up the difference, says Alex Curley, a former product manager at NPR who recently launched a platform called Adopt A Station, which shows which public media stations are at most risk of losing funding.

“When you think about stations that rely on federal funding for 50 percent or more of their revenue, it’s not because they’re asking for a handout. It’s a literal public service for those stations,” Curley told Al Jazeera.

But in counties where the population is sparse and industry is limited, that donor base is not as plentiful. That’s the case with AMR.

“We are in a very rural area. We are an area where there are not a whole lot of businesses. So that amount of income simply cannot be made up through extra donations or extra underwriting,” Smith added.

In a July Substack post, Curley, who was involved in NPR station finances until he left the network in 2024 amid layoffs, said that 15 percent of stations are at risk of closure. His website has provided some reprieve.

“I only expected maybe a few dozen people to visit the site. My biggest hope was to get a couple of donations that went towards a station at risk. It’s [the website] been shared thousands of times. I’ve even heard from stations that were identified as being at risk of closing. They told me they’re getting an influx of donations from out of state through the site. It’s been an incredible response,” Curley said.

However, he argues, this is a temporary fix.

“The real danger will be in six months, a year, two years, when people have forgotten about public media. These stations basically are losing federal funding forever. Donations in the short term are really great, but in the long term, they’re going to have to figure out ways to keep donors engaged and to keep donations flowing to them, or they might close,” Curley added.

“Public radio is also a lifeline, connecting rural communities to the rest of the nation, and providing life-saving emergency broadcasting and weather alerts. Nearly 3-in-4 Americans say they rely on their public radio stations for alerts and news for their public safety,” NPR’s Katherine Maher said in a statement on July 18 following the Senate vote.

“In fact, while the Senate considered amendments, a 7.3 earthquake struck off the coast of Alaska, prompting three coastal stations to start broadcasting live tsunami warnings, urging their communities to head to high ground,” Maher said.

Maher declined Al Jazeera’s request for an interview

PBS faces similar pressures, and many of its stations are also at risk of closure, according to Adopt A Station’s data.

“These cuts will significantly impact all of our stations, but will be especially devastating to smaller stations and those serving large rural areas. Many of our stations, which provide access to free, unique local programming and emergency alerts, will now be forced to make hard decisions in the weeks and months ahead,” PBS president and CEO Paula Kerger said in a statement after the Senate vote.

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

The push to defund public media isn’t a new one for the GOP. Republicans have long argued that the media is not a core function of government. In 2012, GOP presidential nominee Mitt Romney said he would eliminate subsidies to PBS – during a debate moderated, ironically, by then PBS NewsHour anchor Jim Lehrer.

In the 1990s, then House Speaker Newt Gingrich promised to “zero out” funding for CPB, arguing it should be privatised. And in the 1980s, Ronald Reagan attempted to slash $80m from public media – roughly $283m today – though Congress blocked the move.

Following global cuts

Cuts to the Corporation for Public Broadcasting are the latest wave of the White House cutting back on government-funded media arms, including reductions to the US Agency for Global Media, led in part by senior adviser Kari Lake.

Lake is a former Phoenix, Arizona, news anchor known for denying the 2020 election results in which Trump lost to Democrat Joe Biden for the presidency. She is also known for promoting baseless conspiracy theories and for refusing to accept her own defeat for governor and senator bids in Arizona in 2022 and 2024, respectively.

She has been behind the agency effectively shuttering Voice of America (VOA), which has not published any new stories or uploaded new videos to its YouTube page since mid-March.

Last month, a federal judge in Washington blocked the firing of workers at VOA, which affected more than 500 staffers. The Trump administration called the decision “outrageous” and vowed to appeal.

Radio Free Europe/Radio Liberty, which broadcasts in 27 languages across 23 countries, faced challenges similar to VOA. However, the European Union has helped keep the network up and running with $6.2m in emergency funding.

Representatives for the US Agency for Global Media did not respond to our request for comment.

Looming threats to free expression

These cuts come alongside other threats to freedom of expression in the private sector. Soon after the funding cuts were signed into law, Paramount announced the cancellation of The Late Show. The host, comedian Stephen Colbert – a longtime critic of the president – had only days earlier called out Paramount, the show’s parent company, for settling a lawsuit with Trump.

The suit stemmed from Trump’s claim that an interview with his 2024 presidential rival Kamala Harris was doctored. Although the network had initially called the lawsuit meritless, it ultimately settled for $16m. Colbert called the settlement a “big fat bribe”, noting that Paramount had a then-pending merger with Skydance Media – owned by David Ellison, son of Oracle CEO Larry Ellison, a key Trump ally. The merger has since been approved. Paramount has said that the decision is purely financial in nature.

Months later, following stand-up comedian Jimmy Kimmel’s comments on Charlie Kirk’s death, Federal Communications Commission (FCC) Chairman Brendan Carr appeared on a right-wing podcast to criticise the remarks and urged Disney – the parent company of ABC, where Jimmy Kimmel Live airs – to cancel the show.

Nexstar Media Group – one of the largest TV station operators in the US, and which is waiting on an FCC approval of its merger with Tegna – announced it would no longer carry the programme. Disney subsequently suspended the show, though the decision was short-lived, as it returned to the airwaves within a week.

The White House did not respond to Al Jazeera’s request for comment.

The fire gutted import cargo terminals areas at Dhaka airport, destroying an estimated $1bn of ‘urgent air shipments’.

A fire that decimated a cargo complex in Bangladesh’s largest airport has caused devastating losses to garment exporters during the peak export season.

The blaze – which ripped through the cargo import area of Dhaka’s Hazrat Shahjalal International Airport on Saturday afternoon – gutted storage areas holding huge quantities of raw materials, apparel and product samples belonging to exporters.

“We have witnessed a devastating scene inside,” said Faisal Samad, director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

“The entire import section has been reduced to ashes,” he said, estimating losses could reach as high as $1bn.

Smoke continued to rise from the charred remains of the facility on Sunday as firefighters and airport officials assessed the damage.

Among the destroyed goods are “urgent air shipments”, including garments, raw materials, and product samples, added Inamul Haq Khan, senior vice-president of BGMEA.

He warned that the loss of samples could jeopardise future business in the country’s crucial garment industry, worth $47bn per year. “These samples are essential for securing new buyers and expanding orders. Losing them means our members may miss out on future opportunities,” he said.

Cause of blaze unclear

The airport cargo village that caught fire is one of Bangladesh’s busiest logistics hubs, handling more than 600 metric tons of dry cargo daily – a figure that doubles during the October to December peak season.

“Every day, around 200 to 250 factories send their products by air,” Khan said. “Given that scale, the financial impact is significant.”

The cause of the blaze has not yet been determined, and an investigation is under way.

The incident marks the third major fire reported in Bangladesh this week. A fire on Tuesday at a garment factory and an adjacent chemical warehouse in Dhaka killed at least 16 people and injured others. On Thursday, another burned down a seven-storey garment factory building in an export processing zone in Chittagong.

The government said the security services were investigating all incidents “thoroughly”, and warned that “any credible evidence of sabotage or arson will be met with a swift and resolute response.”

“No act of criminality or provocation will be allowed to disrupt public life or the political process,” it said, urging calm.

Bangladesh is the world’s second-largest exporter of apparel after China. The sector, which supplies major global retailers such as Walmart, H&M and the Gap, employs about four million workers and generates more than a tenth of the country’s GDP.

The fire is expected to delay shipments and pose additional challenges in meeting international delivery deadlines.

LAS VEGAS — Aaron Mahan is a lifelong Republican who twice voted for Donald Trump.

He had high hopes putting a businessman in the White House and, although he found the president’s monster ego grating, Mahan voted for his reelection. Mostly, he said, out of party loyalty.

By 2024, however, he’d had enough.

“I just saw more of the bad qualities, more of the ego,” said Mahan, who’s worked for decades as a food server on and off the Las Vegas Strip. “And I felt like he was at least partially running to stay out of jail.”

Mahan couldn’t bring himself to support Kamala Harris. He’s never backed a Democrat for president. So when illness overtook him on election day, it was a good excuse to stay in bed and not vote.

He’s no Trump hater, Mahan said. “I don’t think he’s evil.” Rather, the 52-year-old calls himself “a Trump realist,” seeing the good and the bad.

Here’s Mahan’s reality: A big drop in pay. Depletion of his emergency savings. Stress every time he pulls into a gas station or visits the supermarket.

Mahan used to blithely toss things in his grocery cart. “Now,” he said, “you have to look at prices, because everything is more expensive.”

In short, he’s living through the worst combination of inflation and economic malaise he’s experienced since he began waiting tables after finishing high school.

Views of the 47th president, from the ground up

Las Vegas lives on tourism, the industry irrigated by rivers of disposable income. The decline of both has resulted in a painful downturn that hurts all the more after the pent-up demand and go-go years following the crippling COVID-19 shutdown.

Over the last 12 months, the number of visitors has dropped significantly and those who do come to Las Vegas are spending less. Passenger arrivals at Harry Reid International Airport, a short hop from the Strip, have declined and room nights, a measure of hotel occupancy, have also fallen.

Mahan, who works at the Virgin resort casino just off the Strip, blames the slowdown in large part on Trump’s failure to tame inflation, his tariffs and pugnacious immigration and foreign policies that have antagonized people — and prospective visitors — around the world.

“His general attitude is, ‘I’m going to do what I’m going to do, and you’re going to like it or leave it.’ And they’re leaving it,” Mahan said. “The Canadians aren’t coming. The Mexicans aren’t coming. The Europeans aren’t coming in the way they did. But also the people from Southern California aren’t coming the way they did either.”

Mahan has a way of describing the buckling blow to Las Vegas’ economy. He calls it “the Trump slump.”

::

Mahan was an Air Force brat who lived throughout the United States and, for a time, in England before his father retired from the military and started looking for a place to settle.

Mahan’s mother grew up in Sacramento and liked the mountains that ring Las Vegas. They reminded her of the Sierra Nevada. Mahan’s father had worked intermittently as a bartender. It was a skill of great utility in Nevada’s expansive hospitality industry.

So the desert metropolis it was.

Mahan was 15 when his family landed. After high school, he attended college for a time and started working in the coffee shop at the Barbary Coast hotel and casino. He then moved on to the upscale Gourmet Room. The money was good; Mahan had found his career.

From there he moved to Circus Circus and then, in 2005, the Hard Rock hotel and casino, where he’s been ever since. (In 2018, Virgin Hotels purchased the Hard Rock.)

Mahan, who’s single with no kids, learned to roll with the vicissitudes of the hospitality business. “As a food server, there’s always going to be slowdowns and takeoffs,” he said over lunch at a dim sum restaurant in a Las Vegas strip mall.

Mahan socked money away during the summer months and hunkered down in the slow times, before things started picking up around the New Year. He weathered the Great Recession, from 2007 to 2009, when Nevada led the nation in foreclosures, bankruptcies soared and tumbleweeds blew through Las Vegas’ many overbuilt, financially underwater subdivisions.

This economy feels worse.

Over the last 12 months, Las Vegas has drawn fewer visitors and those who have come are spending less.

(David Becker / For The Times)

With tourism off, the hotel where Mahan works changed from a full-service coffee shop to a limited-hour buffet. So he’s no longer waiting tables. Instead, he mans a to-go window, making drinks and handing food to guests, which brings him a lot less in tips. He estimates his income has fallen $2,000 a month.

But it’s not just that his paychecks have grown considerably skinnier. They don’t go nearly as far.

Gasoline. Eggs. Meat. “Everything,” Mahan said, “is costing more.”

An admitted soda addict, he used to guzzle Dr Pepper. “You’d get three bottles for four bucks,” Mahan said. “Now they’re $3 each.”

He’s cut back as a result.

Worse, his air conditioner broke last month and the $14,000 that Mahan spent replacing it — along with a costly filter he needs for allergies — pretty much wiped out his emergency fund.

It feels as though Mahan is just barely getting by and he’s not at all optimistic things will improve anytime soon.

“I’m looking forward,” he said, to the day Trump leaves office.

::

Mahan considers himself fairly apolitical. He’d rather knock a tennis ball around than debate the latest goings-on in Washington.

He likes some of the things Trump has accomplished, such as securing the border with Mexico — though Mahan is not a fan of the zealous immigration raids scooping up landscapers and tamale vendors.

He’s glad about the no-tax-on-tips provision in the massive legislative package passed last spring, though, “I’m still being taxed at the same rate and there’s no extra money coming in right now.” He’s waiting to see what happens when he files his tax return next year.

He’s not counting on much. “I’m never convinced of anything,” Mahan said. “Until I see it.”

Something else is poking around the back of his mind.

Mahan is a shop steward with the Culinary Union, the powerhouse labor organization that’s helped make Las Vegas one of the few places in the country where a waiter, such as Mahan, can earn enough to buy a home in an upscale suburb like nearby Henderson. (He points out that he made the purchase in 2012 and probably couldn’t afford it in today’s economy.)

Mahan worries that once Trump is done targeting immigrants, federal workers and Democratic-run cities, he’ll come after organized labor, undermining one of the foundational building blocks that helped him climb into the middle class.

“He is a businessman and most businesspeople don’t like dealing with unions,” Mahan said.

There are a few bright spots in Las Vegas’ economic picture. Convention bookings are up slightly for the year, and look to be strengthening. Gaming revenues have increased year-over-year. The workforce is still growing.

“This community’s streets are not littered with people that have been laid off,” said Jeremy Aguero, a principal analyst with Applied Analysis, a firm that provides economic and fiscal policy counsel in Las Vegas.

“The layoff trends, unemployment insurance, they’ve edged up,” Aguero said. “But they’re certainly not wildly elevated in comparison to other periods of instability.”

That, however, offers small solace for Mahan as he makes drinks, hands over takeout food and carefully watches his wallet.

If he knew then what he knows now, what would the Aaron of 2016 — the one so full of hope for a Trump presidency — say to the Aaron of today?

Mahan paused, his chopsticks hovering over a custard dumpling.

“Prepare,” he said, “for a bumpy ride.”