Dilok Klaisataporn
Japan’s trade deficit significantly decreased to JPY 378.7 billion in May 2026, down from JPY 662.5 billion a year earlier and performing better than the market’s expected JPY 564.6 billion shortfall, the contraction was driven by exports expanding faster than imports.
The lawsuit originally filed in September focused on broader alleged misappropriation of confidential information.
Published On 15 Jun 202615 Jun 2026
A United States federal judge has dismissed a lawsuit by Elon Musk’s artificial intelligence company xAI that accused rival Sam Altman’s OpenAI of stealing trade secrets for chatbots.
US District Judge Rita Lin in San Francisco said on Monday that xAI failed to show that OpenAI induced former xAI senior engineer Xuechen Li to divulge confidential information related to its Grok chatbot, or that OpenAI engineers knew Li might have disclosed any.
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Lin dismissed the lawsuit with prejudice, saying it would be “futile” to continue. She dismissed an earlier version in February. The lawsuit originally filed last September focused on broader alleged misappropriation of confidential information, including source code, by xAI employees who left for jobs at OpenAI.
Monday’s decision is Musk’s second legal loss against OpenAI in four weeks.
On May 18, a federal jury ruled against Musk, the world’s richest person, in his $150bn lawsuit accusing OpenAI and Altman of “stealing a charity” by betraying the company’s original mission as a nonprofit to enrich themselves.
The xAI business is part of Musk’s rocket, satellite and AI company SpaceX.
Lawyers for xAI did not immediately respond to requests for comment. OpenAI and its lawyers did not immediately respond to similar requests.
The amended complaint focused on a presentation that Li gave while OpenAI was recruiting him.
Musk’s company said OpenAI wanted secrets related to the July 2025 release of Grok 4, knowing its forthcoming update to ChatGPT “could not compete” on complex reasoning, and because OpenAI was “lagging” in reinforcement learning and post-training techniques that Li understood.
But the judge said asking job candidates to discuss their prior work was routine, and one could not infer that OpenAI pushed Li to leak anything confidential.
“To hold otherwise would potentially expose employers to liability any time they inquire about a candidate’s past work,” Lin wrote.
OpenAI has said Li never worked for the company and that it never acquired xAI secrets.
In seeking dismissal, lawyers for OpenAI wrote: “OpenAI does not need or want anyone’s trade secrets, especially not from xAI, which is failing in the marketplace and hemorrhaging talent.”
Li is being sued separately by xAI and has denied wrongdoing.
European Commission President Ursula von der Leyen, European Council President Antonio Costa and with South Korean President Lee Jae-myung celebrated the signing of new a digital trade agreement at a ceremony in Brussels on Wednesday.
The event marked the EU and South Korea’s 11th summit, with everything from security and defence to trade on the agenda.
“Korea is one of Europe’s closest partners in the Indo-Pacific region and on the global stage,” von der Leyen said. “In today’s uncertain world, stable and trusted partnerships like ours are more precious than ever.”
The trio released a joint statement extolling the value of the talks and committing the two sides to a firm and friendly relationship.
“We reaffirm our shared commitment to effective multilateralism, and to a stable and predictable rules-based free and fair economic order,” the statement reads.
Both sides have an interest in diversifying their trade relationships at a time of growing tensions with both China and the US, and the EU-South Korea digital trade agreement comes more than a decade after a landmark free trade deal.
Since 2015, trade between the EU and South Korea has doubled, with goods trade reaching approximately €124.25 billion in 2025, according to figures from the European Commission.
“The European Union-Korea Free Trade Agreement remains one of the European Union’s most successful trade agreements since its entry into enforcement in 2011,” European Council António Costa said on Wednesday.
South Korea is becoming an increasingly important investor in Europe, particularly in strategic sectors such as batteries, electric vehicles and semiconductors.
For the EU, a key objective is to secure semiconductor supply chains while attracting further investment from Korean companies into Europe.
“Korea has a global leadership position in semiconductors,” an EU official said. “This is clearly an area with significant potential for cooperation that would benefit both sides.”
The digital trade agreement concluded on Wednesday is expected to complement the broader trade partnership by reducing “unnecessary barriers to digital trade” and providing greater “legal certainty” for businesses operating across the two markets, according to another EU official. It will facilitate cross-border data flows while prohibiting the mandatory transfer of source code.
The deal is also designed to establish robust online consumer protection rules, though both partners intend to maintain their respective levels of protection for personal data and privacy.
Economic security was also high on the summit agenda, with the two sides agreeing to establish a high-level dialogue on supply chain resilience.
Supply chains came under pressure last year following China’s restrictions on exports of strategic materials, including rare earths – essential for green technologies and the defence sector – as well as products linked to the chip industry, which are critical to automotive manufacturing.
One thing that did not get over the line was a security of information agreement, which had been touted by EU officials prior to the summit as a means of strengthening the flow of classified information between Brussels and Seoul.
“I hope that the security of information agreement will be adopted soon, so that Korea and the EU can share confidential information safely, which will allow the two sides to engage in industrial and research cooperation actively through information exchange exchange,” President Lee said on Wednesday.
The agreement would build on the Security and Defence Partnership agreement that South Korea and the EU signed in 2024. That deal was designed to facilitate cooperation in areas spanning maritime security, countering hybrid threats, fighting foreign information manipulation and interference, and more besides.
In the run-up to this week’s talks, a senior EU official said a key topic of the discussions will be nuclear non-proliferation, as North Korea continues to hold a small but concerning stockpile of nuclear-armed warheads.
North Korea (the DPRK) and Russia were considered “big questions” at the summit, the source said, with Brussels ready to share information on its support for Ukraine with Seoul.
The joint statement from the summit reiterates this, with words of condemnation directed at North Korea and other nations who enable Russia to sustain its war of aggression against Ukraine.
“We urge Russia and the DPRK to immediately cease all such activities and abide by the UN Charter and all relevant United Nations Security Council resolutions,” the statement reads.
Delcy Rodríguez was hosted by Narendra Modi in New Delhi. (EFE)
Mérida, June 8, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez concluded a four-day high-profile diplomatic tour of India on Sunday, having held meetings with Prime Minister Narendra Modi, Indian cabinet members, and major business conglomerates.
Rodríguez, who assumed the acting presidency after the kidnapping of President Nicolás Maduro in a US military operation on January 3, led a large ministerial delegation including the foreign affairs, science, and transport ministers. The visit was Rodríguez’s sixth trip to India.
Caracas’ main stated goal was to deepen long-term energy ties with the Asian giant and expand crude exports. The Trump administration has publicly backed India to increase purchases of Venezuelan crude as part of efforts to move its Asian partner away from Russian energy imports.
One of Rodríguez’s first meetings was with Petroleum and Natural Gas Minister Hardeep Singh Puri, who stated that Indian companies are looking to “build upon” existing investments in the Caribbean nation.
“Indian companies are additionally looking for newer opportunities for fruitful collaborations which will provide momentum to our quest towards energy security,” Singh Puri wrote on social media.
For her part, Venezuela’s acting president described India as a “reliable partner” and invited Indian corporations to explore new investment opportunities in the country’s energy sector. Rodríguez highlighted the “energy complementarities” between the two nations.
Venezuela’s oil exports reached 1.25 million barrels per day (bpd) in May, with India reportedly receiving 427,000 bpd, making it the second-largest destination after the US. In recent years, under wide-reaching US sanctions, Venezuela had repeatedly sought to increase exports to India, only to see efforts blocked by US threats of secondary sanctions.
The meeting with Singh Puri likewise featured executives from several Indian public energy companies, including ONGC, Indian Oil Corporation (IOLC), Oil India, and ONGC Videsh (OVL). The companies own multiple minority stakes in the San Cristóbal and Petrocarabobo heavy crude projects in the Orinoco Oil Belt.
Indian authorities stressed addressing an outstanding US $500 million debt in unpaid dividends to ONGC Videsh as a priority before new investments are to be considered.
Rodríguez went on to tour the Jamnagar refinery complex, owned by Reliance Industries, in Gujarat state. The refinery is the world’s largest, with a daily capacity to process 1.4 million bpd. In recent months, Reliance has emerged as a top buyer of Venezuelan crude, purchasing cargoes directly from state-owned PDVSA as well as from traders Vitol and Trafigura.
The Venezuelan delegation held further meetings with top Indian business conglomerates. On June 6, it toured Tata Group facilities in Mumbai. According to Venezuela’s embassy in India, the discussions centered on renewable energy, ecological projects, and urban transport. Venezuelan Transport Minister Jacqueline Faría highlighted Tata’s cutting-edge electric public transportation vehicles.
Rodríguez’s agenda also included talks with Indian dairy giant Amul. Venezuelan state media emphasized interest in Amul’s massive production of buffalo milk. Venezuela currently holds the largest buffalo herd in South America and officials have touted buffalo dairy as a priority export venture.
Likewise in Mumbai, the Venezuelan officials visited multinational conglomerate Essar, with discussions reportedly focusing on infrastructure and electricity. Venezuela’s National Assembly is presently advancing legislation to open electricity, from generation to distribution, to private sector investment and participation.
Rodríguez’s visit featured a meeting with Indian Prime Minister Narendra Modi in New Delhi. In a social media message, Modi praised Venezuela as a “valued partner” and disclosed that discussions had centered on “expanding cooperation in energy, critical minerals, technology, agriculture, health, and people-to-people ties.”
The Venezuelan delegation was also hosted by External Affairs Minister Subrahmanyam Jaishankar, who praised Rodríguez’s “longstanding commitment” to deepening Venezuela-India ties.
In a press briefing, Rudrendran Tandon, Secretary (East) in the Ministry of External Affairs, emphasized discussions on pharmaceutical cooperation and increasing supplies of low-cost generic drugs for Venezuela’s public healthcare system. Tandon also brought up a $700-800 million debt to Indian pharmaceutical manufacturers but said the Venezuelan side was “very sensitive” to the issue.
While no formal agreements were announced, Venezuela’s acting president offered a positive balance of a visit that “consolidated the friendship and cooperation between the two nations.” She went on to thank Modi for the hospitality.
Rodríguez’s last day in India included a visit to the Prasanthi Nilayam ashram in Andhra Pradesh, a spiritual center founded by Indian religious guru Sathya Sai Baba (1926-2011). In a social media message, Rodríguez expressed her “deep belief” in Sai Baba’s “love all, serve all” motto.
The Venezuelan leader’s tour featured a stop in Istanbul on Tuesday before the return to Caracas. Rodríguez met with Turkish President Recep Tayyip Erdoğan to discuss bilateral trade and diplomacy between Venezuela and Türkiye.
Edited by Ricardo Vaz in Caracas.
EXPLAINER
Tensions have escalated between Iran and Israel while ongoing diplomatic efforts have failed to yield a lasting peace deal.
Published On 8 Jun 20268 Jun 2026
Iran and Israel were on Monday locked in tit-for-tat missile attacks, as the fragile ceasefire that has held in place since April 8 appeared closer to collapse than at any point in the past seven weeks.
These escalating hostilities between Iran and Israel come as the United States-Israel war on Iran enters its 101st day on Monday.
Here is what is happening:
Iran and Israel exchanged threats after Tehran launched missiles towards Israel in response to Israeli strikes on Beirut’s southern suburbs. Israel vowed to deepen attacks on Lebanon, while Iran warned of further action if the strikes continue.
Published On 8 Jun 20268 Jun 2026
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Chinese President Xi Jinping’s meeting with North Korea’s Kim Jong Un in Pyongyang on Sunday is significant for one reason.
It’s not that they are meeting: The two men met in Beijing just a year ago when China held a massive military parade to mark 80 years since Japan surrendered unconditionally to Allied forces, bringing an end to the second world war.
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What’s surprising is that Xi is travelling at all.
The Chinese leader has not travelled to Pyongyang since 2019, having steadily cut down his travel in recent years, and world leaders like US President Donald Trump and Russian leader Vladimir Putin generally come to him these days.
“We need to remember that Xi Jinping has not really travelled abroad that much,” William Yang, Crisis Group’s senior analyst for Northeast Asia, told Al Jazeera. “The growing trend is foreign leaders heading to Beijing to meet with him.
“For Xi Jinping to be the one who decides to travel to Pyongyang, it shows the level of significance that China attaches to this trip.”
Xi averaged about 14 trips a year between 2013 and 2019, but dropped to approximately six a year between 2022 and 2025, according to the Asia Society. In 2020, he made just one overseas trip, and in 2021, he made none, as China grappled with the COVID-19 pandemic.
He may be travelling now, though, amid concerns about North Korea’s relationship with Russia, Yang said.
Traditionally, Beijing played the role of senior partner in the China-North Korea relationship, with North Korea heavily dependent on China for as much as 95 percent of its trade, according to one 2022 estimate from the National Committee on North Korea, a US-based nonprofit.
That dynamic has been changing since Russia’s 2022 invasion of Ukraine, however. North Korea has provided Russia with critical weapons, artillery and manpower and is credited by observers with helping to keep Moscow’s war machine going.
South Korea’s Institute for National Security Strategy, a government-funded research institute, estimates that since 2023, Moscow has paid North Korea as much as $14.4bn for troop deployments and the export of “artillery, shells, and guided and ballistic missiles”.
The report said that North Korea may only have received between $580m and $1.5bn of that in the form of “goods”, which means there is a “significant possibility that the majority of the payment from Moscow was in the form of ‘sensitive military technology or related precision parts and materials that are difficult to observe via satellite’,” according to a translation.
Although China shares a mutual defence treaty with North Korea, it is still wary of North Korea acquiring new military technology, Yang said.
“Beijing has always been very careful about providing military assistance to North Korea because they do not see a militarily stronger North Korea as necessarily in its favour,” he said. “A North Korea that is militarily emboldened through its relationship with Russia could be a potential source of disruption to the balance of power and status quo on the Korean Peninsula.”
North Korea has already carried out eight missile launches since the start of the year, and in May unveiled a new AI-guided tactical cruise missile, according to North Korean media and the US Naval Institute.
Earlier this week, North Korean state media also released photos of Kim touring a new “weapons-grade nuclear materials” factory, which would be used to expand Pyongyang’s nuclear capability at an “exponential rate”.
North Korea has technically been at war with South Korea since 1950, with the conflict suspended by a 1953 armistice agreement. The two countries are divided by a 250-kilometre-long (155-mile-long) Demilitarized Zone, splitting the Korean Peninsula.
Tensions have fluctuated dramatically over the years, reaching a recent low point in 2024 when Kim abandoned the long-term goal of Korean unification.
He has largely cut off communications ever since, according to observers. On Friday, South Korea’s Ministry of Foreign Affairs said that it hopes that Xi’s trip will “play a constructive role in addressing issues related to the Korean Peninsula” – suggesting that Seoul may have lobbied the Chinese leader to try to smooth over relations.
South Korean Minister of Unification Chung Dong-young separately told reporters last month that he expects the two leaders to discuss a possible meeting between Kim and Trump later in the year.
Xi may also be alarmed by other security developments in East Asia, including news of a possible military-logistics support pact between South Korea and Japan, which was raised at the Shangri-La Dialogue of regional defence officials in Singapore last weekend.
While China and South Korea’s relationship fluctuates, its ties with Japan are acrimonious due to longstanding grievances dating back to Imperial Japan’s occupation of China in the 1930s and 1940s. Beijing has also objected to recent moves by Tokyo to expand its de facto military.
The administration of US President Donald Trump has proposed new tariffs of up to 12.5 percent on imports from 60 economies after determining they had failed to curb trade in goods made with forced labour, an assertion that was rejected by US trading partners.
The proposal from the Office of the United States Trade Representative (USTR), issued late on Tuesday, comes from a Section 301 unfair trade practices investigation designed to help rebuild US President Donald Trump’s emergency tariffs, struck down by a US Supreme Court decision in February.
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Despite laws banning them, the products of forced labour are deeply embedded in supply chains across the world. European lawmakers bristle at the accusation that the region is less effective than the US at curbing the trade in such goods, with one describing the US findings as “utterly absurd”. Business leaders said the US move created more confusion for companies.
The USTR proposed 10 percent additional duties on imports from Canada, Ecuador, the European Union, Indonesia, Mexico, Pakistan, Argentina, Bangladesh, Cambodia, El Salvador, Guatemala, Malaysia, Taiwan and Britain. The USTR said all had plans or partial schemes in place.
The trade agency said it would impose additional duties of 12.5 percent on the remaining 45 countries that it investigated. These include China, India, Nigeria, Japan, South Korea, Vietnam, Australia and New Zealand.
“The failure of our most important trading partners to address the importation of goods made with forced labour is unacceptable,” US Trade Representative Jamieson Greer said in a statement. “This creates a dynamic where American workers are forced to compete globally on an unlevel playing field.”
The USTR said it would accept public comments on the proposed tariffs and other remedies through July 6, with a public hearing scheduled for July 7.
The announcement comes ahead of the July 24 expiration of a 10 percent temporary tariff imposed by the Trump administration on February 20, the day the Supreme Court struck down Trump’s tariffs under the International Emergency Economic Powers Act. It also shows how determined the Trump administration is about building a wall of tariffs around the US economy, the world’s largest, despite repeated setbacks in court.
After the loss in the Supreme Court, Trump turned to another law to impose temporary 10 percent tariffs globally. But those stopgap levies expire July 24. And a specialised trade court ruled last month that they, too, were illegal – though the government can continue collecting them while that case works its way through the courts.
The European Commission said the tariffs were unjustified and reiterated its commitment to the trade deal sealed with Washington last year.
Bernd Lange, the chair of the European Parliament’s trade committee, which voted on Tuesday to accept that trade deal, said the new tariffs were expected, but said the results of the US investigation were still “utterly absurd” given a 2024 EU law to ban imports of forced labour products.
“The impression is increasingly emerging that a tariff measure is sought first, and only then is a suitable legal justification found,” he said. However, he added that the key question would be whether the additional tariffs would exceed those agreed between both sides last July.
The US’s largest trading partner, the EU, agreed last July to accept tariffs of 15 percent on a broad range of its exports. In its report, the USTR said the EU anti-forced labour measures only came into force in December 2027 and lacked key elements.
It was unclear whether the proposed tariffs – which the US release described as “additional duties” – would come on top of levies agreed in bilateral deals signed with the US.
Britain said it was in regular talks with the US and was taking action to tackle forced labour. It added that the preferential access to US markets that it had negotiated for UK businesses remained in place.
Mexico said that goods that were compliant under the United States-Mexico-Canada Agreement (USMCA) would be exempt from the new tariffs.
Taiwan said it was “hopeful and confident” that the final results would reflect agreements already reached, securing relatively preferential treatment.
Beijing, facing 12.5 percent tariffs, said that it opposed all forms of unilateral tariffs and that there was no forced labour in China. India, confronted with the same rate, said it was engaged with Washington on the Section 301 proceedings, noting the proposed tariffs were not final.
“There will be deep concerns in the international business community that the US [forced labour law could] become a global template,” said Andrew Wilson, deputy secretary general of the International Chamber of Commerce.
“Anyone can make a claim, get a shipment impounded and the company has to prove no forced labour in supply chain.”
The USTR said it would exempt from tariffs products including energy, rare earths and some other metals, beef, coffee, certain fruits and vegetables, pharmaceuticals, organic chemicals and aircraft parts.
It also said it was proposing a textile mechanism that would allow for a certain volume of apparel and textile imports to enter the US at a reduced tariff rate, without giving details.
The ICC’s Wilson said the list of exemptions, stretching for more than 76 pages, suggested sensitivities over the potential cost-of-living hit to food and other goods with known forced-labour risks.
“It doesn’t make sense if the object of this is to enhance controls on modern slavery,” he said.
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The European Commission confirmed to Euronews on Wednesday that EU trade chief Maroš Šefčovič will meet his Chinese counterpart, trade envoy Li Chenggang, on the sidelines of an OECD ministerial meeting in Paris on Thursday.
The visit comes as EU-China relations remain strained, with Brussels seeking to crack down on Chinese overcapacity and tackle a record-high €359.9 billion trade deficit with Beijing.
After the EU unveiled the so-called Industrial Accelerator Act and the Cybersecurity Act which could exclude Chinese companies from the EU market, China threatened retaliation, fuelling fears of a trade war between the two trading partners.
Tensions escalated further last week when EU commissioners met to discuss the bloc’s strategy towards the Asian giant.
“The current state of the trade and investment relationship is not sustainable,” the Commission said in a statement after the meeting.
An EU official told Euronews that a majority of the Commissioners had agreed to strengthen the EU’s trade defence tools to help counter China. Proposals will be made to EU leaders during their summit on 18 June.
However, member states remain divided over the EU’s China policy. A non-paper signed by France, Italy, Spain, the Netherlands and Lithuania called for faster use of tariffs and quotas on imports threatening EU industrial sectors, with China the principle target. The idea is to restore a level playing field against Chinese trade practices that many in Europe describe as unfair.
Among those countries taking a different line is Germany, whose policy is to preserve access to the Chinese market for its companies even as it faces a deep trade deficit.
Meanwhile, the Commission said it will continue engaging with China. There have been reports that Commerce Minister Wang Wentao could visit Brussels on 28 and 29 June, but the visit has not yet been publicly confirmed.
Mexico and Canada have backed extending the USMCA trade agreement for another 16 years as negotiations over its future continue. The proposal comes amid an ongoing trade dispute with the United States.
Published On 3 Jun 20263 Jun 2026
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A swarm of drones lit up the evening sky near Taiwan’s Taipei 101 skyscraper in a dazzling display depicting a giant robot, a sports car, and Earth. The light show was part of Computex Taipei, one of Asia’s largest technology exhibitions.
Published On 2 Jun 20262 Jun 2026
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The administration of United States President Donald Trump has proposed a new 25 percent tariff on imports from Brazil amid allegations of unfair trading practices.
US Trade Representative Jamieson Greer announced the new punitive tariffs late on Monday, stemming from issues including digital trade and illegal deforestation.
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The new tariffs would be imposed under Section 301 of US trade policy — a statute that gives the US government broad authority to impose trade sanctions based on violations of trade agreements, as well as what it deems “unfair” trade practices under the Trade Act of 1974.
Greer said there has been an investigation that began in July. The practices under investigation were related to issues such as illegal deforestation, ethanol market access, and anticorruption enforcement, among other key issues, according to the summary released by the US Department of Commerce on Tuesday.
In the 107-page document, the US government said that trade practices between the two nations “are unreasonable and burden or restrict US commerce”, and pointed to agreements that Brazil has with Mexico and India.
“Brazil’s trade arrangements with Mexico and India also create incentives to offshore US production by creating a financial advantage to exporting to Brazil from these countries, as opposed to exporting from the United States,” the document says.
There is a comment period for the general public to weigh in on the proposed tariffs, which begins on Thursday. The written comment period ends on July 1, and there will be a public hearing in Washington on July 6.
Beef, coffee, rare earths, other metals, energy, and aircraft parts are among the products that would be exempt from the tariffs.
On CNBC, Greer said that it would release more findings on unfair trade practices in the next several weeks in order to address what Greer called a “giant” trade deficit.
However, the data shows that the US maintains a trade surplus with Brazil. In March, Brazil bought more goods, worth $3.3bn, from the US than it exported at $2.9bn, representing a $420m trade surplus.
Other countries under investigation include China and Vietnam.
The new tariff would partially replace a tariff of 50 percent on many Brazilian goods imposed last year by Trump, with 40 percent serving as a punishment for Brazil’s prosecution of former President Jair Bolsonaro, a Trump ally.
The White House also recently dropped tariffs on select aluminium, copper, and steel imports, which include agricultural equipment such as harvesters. Those tariffs will drop from 25 percent to 15 percent. The tariffs expire in December 2027.
The new tariffs come after the Supreme Court, in February, struck down the use of the International Emergency Economic Powers Act (IEEPA), which the White House used to impose its sweeping global tariffs.
“They are the first of many new tariffs to replace the IEPPA national security tariffs. The period of public comment will allow for potential modest tweaks and exemptions. Ultimately, it will add to some inflation pressure compared to the last few months but not compared to a year earlier,” Rachel Ziemba, a senior adjunct fellow at the Center for a New American Security, told Al Jazeera.
The changes come despite President Luiz Inacio Lula da Silva’s visit to Washington last month, as relations have deteriorated in recent months.
The US State Department has also designated two of Brazil’s criminal gangs as “terrorist organisations”, a move that supported Senator Flavio Bolsonaro’s position, Lula’s main rival in October’s election, and over the objections of Brazilian officials.
“I expressly asked President Trump not to tariff our companies,” Bolsonaro wrote on X on Tuesday. “Tariffs are not the solution.”
The White House did not respond to Al Jazeera’s request for comment.
The Rams were six yards from the Super Bowl.
The Rams’ celebrated young defense needed only to smother immobile Seattle Seahawks quarterback Sam Darnold deep in his territory in the final five minutes to regain possession and have a real shot at winning last season’s NFC championship.
They couldn’t touch him.
For more than four minutes Darnold drove downfield, connecting on three of four passes, baffling the pass rushers, bleeding the clock, and by the time the Seahawks finally gave the ball back, the Rams had only 25 seconds to live.
Final score: Seahawks 31, Rams 27.
Final verdict: The Rams needed a closer.
The Rams needed somebody to chase Darnold into submission the way Aaron Donald once famously chased down Joe Burrow in the final seconds of Super Bowl LVI.
The Rams needed a closer the way the Dodgers needed Edwin Díaz.
The Rams needed … Myles Garrett?
Are you kidding me? They got him? He now plays for them?
The Rams needed an edge rusher and they acquired an edge destroyer? The Rams needed a veteran defensive lineman and they acquired a one-man defensive line?
The Rams needed a closer and here comes Mariano Rivera?
It’s all true. It’s hella crazy. It’s so Rams.
Myles Garrett points before a game between the Cleveland Browns and Pittsburgh Steelers on Dec. 28.
(Jason Miller / Getty Images)
In their first blockbuster deal since the last one won them a Super Bowl — remember Jared Goff for Matthew Stafford? — the Rams pulled off another heist Monday in acquiring two-time defensive player of the year Myles Garrett from the Cleveland Browns for younger defensive star Jared Verse and multiple draft picks.
The Rams will miss the inspirational Verse, and one of those draft picks is a 2027 first rounder, and they’re once again dangerously mortgaging the future but … c’mon.
It’s Myles Garrett, people.
He treats quarterbacks the way Rams general manager Les Snead treats draft picks.
Crumple, discard, next.
He took what Deacon Jones invented and has done it better than anyone in history.
He’s a Fearsome Onesome.
Considering where he ranks in NFL history, the Browns just gave him away. Thank you, Cleveland. While you’re at it, can you take back LeBron?
Last season Garrett, who is still only 30, set the NFL’s single-season record for sacks with 23. He also owns the NFL record with six straight seasons of at least 12 sacks.
His career is filled with monster moments. In one game he had five sacks. In another game he had nine tackles, two sacks, two forced fumbles and a blocked field goal. In one season he had an NFL record 33 tackles for loss.
He’s also been the subject of a monster suspension, when the NFL kicked him out for the six remaining games of the season in 2019 after he pulled the helmet off Pittsburgh Steelers quarterback Mason Rudolph and swung it at him, hitting him in the head.
Garrett later apologized while accusing Rudolph of precipitating the fight with a racial slur. Garrett’s claims were never proven, and he quietly rejoined the Browns for the 2020 season.
He’s not known for violence except if you’re holding a football. He’s not known for taking any plays off, even though he was so unhappy he requested a trade out of Cleveland. He’s largely stayed off the gossip pages, an absence which is about to end as he is dating Los Angeles local and Olympic gold medalist Chloe Kim.
In all, Garrett is the one sweetheart of a player the Rams needed to complete their preparation for next Valentine’s Day 2027 Super Bowl at SoFi Stadium.
Matthew Stafford coming back? Check. He signed a contract extension.
Secondary help? Check. They added newly acquired All-Pro Trent McDuffie and his former Kansas City Chiefs running mate Jaylen Watson.
Nearly every other important player returning from a team that was arguably football’s best until that nail-biting loss to the eventual champion Seahawks? Check.
To all this, adding arguably the greatest edge rusher in history? Checkmate.
The Rams will miss Verse. The fans loved him, his teammates loved him more, and he was such a force after only two seasons he was considered the heir apparent to the retired Donald.
Two seasons ago he was the NFL’s defensive rookie of the year and last season he was widely lauded for his 7½ sacks.
But, um, Garrett had more than three times that many.
This sort of deal is what the Rams do when they think they are close to a championship. This is why they have become one of Los Angeles’ two most admired sports franchises.
They go for it. They push all their chips to the middle and they go for it. They realize this town won’t settle for anything less than championship effort so they go for it.
Rams general manager Les Snead walks on the field before a game between the Rams and New Orleans Saints at SoFi Stadium in November.
(Kyusung Gong / Associated Press)
Some football executives are wary of criticism for trading draft picks. Snead wears T-shirts cursing those picks. Some football executives plan for the distant future. With the support of owner Stan Kroenke, Snead never looks past the next Sunday.
Way back when, some folks wondered about the wisdom of trading young and popular Goff and three prime draft picks for aging Stafford in March 2021. But the Rams knew Stafford was the closer they needed to win a Super Bowl.
And, yeah silly, they won the next Super Bowl.
In that way, this is much of the same deal. The Browns realize they’re not winning anything immediately and want to build for the future. The Rams were all too happy to give them that future for the Browns’ present.
And what a present Garrett will be, the gift that keeps on crushing, the crown jewel of a revamped defense that should make the Rams the preseason favorites to unseat the defending Super Bowl champions.
One of whom is undoubtedly listening.
Sam Darnold, you there?
As if anyone needed a reminder, the Rams know how to go all-in.
On Monday, the already Super Bowl-ready Rams pulled off another massive deal, acquiring defensive end Myles Garrett — the league’s defensive player of the year — in a trade with the Cleveland Browns for edge rusher Jared Verse, a 2027 first-round draft pick, a 2028 second-round pick and a 2029 third-rounder.
Garrett, 30, is a nine-year veteran, five-time All-Pro and two-time defensive player of the year. Last season, he amassed a league-high 23 sacks, increasing his career total to 125.5.
Garrett is scheduled to earn $31.5 million this season, according to Overthecap.com.
Verse, 25, was the 19th player chosen in the 2024 draft. He was the NFL defensive rookie of the year and last season had 7½ sacks for a Rams team that advanced to the NFC championship before losing to the eventual Super Bowl-champion Seattle Seahawks.
Verse is scheduled to carry a salary-cap number of $4.1 million this season, according to Overthecap, but is presumably in line for a massive contract extension.
Rams linebacker Jared Verse (8) celebrates after a defensive stand against the Colts in September.
(Robert Gauthier / Los Angeles Times)
The Garrett trade is the second major offseason deal for the Rams. In March, they traded for All-Pro cornerback Trent McDuffie, and then signed him to an extension that makes him the highest paid player at his position in NFL history.
The Rams are a favorite to play in Super Bowl LXI, which will be played at SoFi Stadium.
The move bolsters an already formidable Rams pass rushing unit that has played a integral part in the Rams being among the favorites to win the Super Bowl at SoFi Stadium in February. During the 2021 season, the Rams traded for pass rusher Von Miller en route to winning the Super Bowl at home.
This is a developing story. The Times will have more soon on the Rams acquiring Garrett.
Kuwait activated its air defences after what its foreign ministry later described as a ‘heinous Iranian attack’. Iran says it targeted a US base in retaliation for being used, according to Tehran, to launch recent attacks on Iran.
Published On 1 Jun 20261 Jun 2026
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Eurasian Economic Union (EAEU) countries are moving towards deeper economic integration through digitisation and AI, as leaders of the bloc met in Astana for a two-day summit.
During the high-level talks, member states discussed creating a unified digital environment to build a seamless market across a shared economic space of more than 20 million square kilometres.
Delegations focused on trade, joint projects and the development of shared digital tools and AI systems designed to strengthen cooperation and reduce fragmentation across the bloc.
Last year, trade within the union more than doubled, while turnover with third countries rose by 72%, while around 90% of settlements are now conducted in national currencies, as EAEU states also mull a single transit system.
With digitisation driving developments across the union, Kazakhstan’s President Kassym-Jomart Tokayev said trade turnover between EAEU members could increase by around 6%, exceeding €85 billion this year, compared with €80 billion last year.
He added that GDP growth across EAEU countries is projected at around 2.5% for 2026–2027.
Now in its 12th year, the EAEU functions as a single integrated market and free trade zone for its five members – Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia.
The bloc already has agreements in place with a number of countries including Serbia, Vietnam, the UAE, Mongolia and Indonesia. China remains the bloc’s key partner, accounting for around one-third of external trade.
Kazakhstan’s Tokayev said that during its chairmanship of the EAEU, the country has proposed the practical use of AI to help implement the bloc’s so-called four freedoms, with the aim of strengthening the competitiveness of member states.
Member states also proposed developing common principles for the responsible use of AI, as well as shared computing capacity and joint model development.
Meanwhile, Russia proposed a high-level AI get-together next year to further cooperation on domestic AI models and connecting its IT and energy infrastructure, according to Russian President Vladimir Putin.
On the ground, pilot projects are already being tested at the EAEU level.
In Kazakhstan, several AI-powered digital assistants have been developed by both government agencies and startups to help citizens navigate legal and regulatory systems more easily.
According to Deputy Minister of Artificial Intelligence and Digital Development Dmitry Mun, these AI legal assistants are designed to simplify legislation, reduce bureaucracy, and make regulatory systems more accessible for citizens and businesses.
Some of these tools are now being tested to streamline processes across member states.
Around 85% of goods travelling from China to Europe are routed through the Middle Corridor, according to officials.
Artificial intelligence is increasingly being deployed alongside the TDN and the Digital Transport Corridor along the Trans-Caspian International Transport Route. Together, these measures are expected to increase non-commodity exports by around 30% over the next two years.
Kazakhstan’s Minister of Trade and Integration Arman Shakkaliyev said the country also aims to leverage major transport routes, including the Middle Corridor and the North–South Corridor, to build a fully integrated logistics ecosystem.
The goal, he said, is to position Kazakhstan as a key regional hub where transport routes converge and large export flows are consolidated.
The ambition is to develop a fully functioning system by 2030, with cargo volumes reaching around 10 million tonnes. Work is already under way, including railway modernisation and new infrastructure development.
The summit followed Putin’s state visit to Kazakhstan, during which the two countries signed seven key pillars of bilateral cooperation, along with a broader package of agreements covering energy, transport, finance, education and industrial development.
Russia remains Kazakhstan’s largest investor, with nearly €25 billion already invested and plans to increase that figure further. It is also building Kazakhstan’s first nuclear power plant, valued at around €14 billion.
Putin said the plant would account for around 20% of Kazakhstan’s electricity consumption, adding that financing conditions for such projects are in line with international practice.
He noted that the project supports Russian industrial capacity through equipment orders and long-term maintenance contracts, while also strengthening cooperation between the two countries in uranium and nuclear technology.
For Kazakhstan, officials say the project represents both energy security and a step towards moving beyond raw-material exports to high-value technological cooperation.
Tensions between China and the EU have intensified in recent months, prompting the European Commission to convene most of its commissioners for a strategic rethink during an “orientation debate” on Friday.
“China is a critical partner, and engagement and dialogue will continue,” the commission said in a readout following the debate. “At the same time the current state of the trade and investment relationship is not sustainable.”
Calling the relationship “not sustainable” may understate the depth of the rupture.
Relations have steadily deteriorated since European Commission President Ursula von der Leyen branded Beijing a “systemic rival” in a landmark 2023 speech. But tensions surged to a new level once EU policymakers finally settled their differences over the EU-US trade deal that had consumed Brussels for months, freeing the bloc to sharpen its focus on China.
Last year, according to the commission, the bloc registered a record-high €359.9 billion trade deficit with Beijing, fuelling growing calls in Brussels to better protect the EU market from cheap Chinese imports that threaten entire sectors — metals, chemicals and the car industry among them.
“We are seeing a panic attack in the last few weeks on China,” an EU official told Euronews, speaking on condition of anonymity to speak candidly. The official added that the China issue had been “overlooked for too long.”
A total of 200,000 European jobs were lost in EU industry — particularly in the energy-intensive and automotive sectors — since 2024, with a further 600,000 job losses projected this decade in carmaking alone.
On Friday, the commission readout specified that its “overarching approach remains de-risking, not decoupling,” signalling that the bloc is still pursuing targeted efforts to reduce its dependence on China rather than sever economic ties altogether. Yet the risk of a full-scale trade war has never felt so real.
Here are five key points on how the situation has escalated to this point — and where it may be headed next :
During the previous legislative term, the EU passed legislation that drew Beijing’s anger — notably measures to screen foreign direct investment. And it has stepped up its fight against so-called dumping, whereby public subsidies are used to undercut competitors through exports sold below market prices in China.
The European Commission has grown increasingly assertive in countering China’s subsidy-driven approach, including by imposing duties on imports of battery electric vehicles. Several product-specific investigations are also ongoing.
Earlier this week, the Commission fined Chinese e-commerce giant Temu €200 million for selling unsafe products and opened a full-scale investigation into JD.com’s acquisition of e-commerce retailer MediaMarkt.
EU lawmakers and governments are also discussing the Industrial Accelerator Act, a legislative proposal that would impose strict conditions on investments in batteries, electric vehicles, solar panels and critical raw materials from countries controlling 40% of the global market share in a given sector.
A separate proposal — a revamped Cybersecurity Act — could push out Chinese equipment suppliers such as Huawei and ZTE from critical infrastructure.
To counter Chinese overcapacities, the EU agreed in April to double tariffs on steel imports that exceed EU quotas. The measure is a so-called “safeguard” — a tool backed by some of the EU’s largest economies, including France, Italy, Spain, the Netherlands and Lithuania, which called for it to be extended to sectors beyond metals.
In a non-paper, those countries argued that safeguards were more “agile” than other EU instruments targeting cheap export products. The paper also calls for economic security to be factored into assessments of the EU’s interests when deciding on trade defence measures.
The European industry is also ramping up pressure to crack down on Chinese cheap imports calling on the Commission to use trade defence measures “more flexibly, faster, and preventively.”
A major wake-up call for EU policymakers has been the recent case of Nexperia, a Dutch-based chipmaker acquired by Chinese giant Wingtech, which was caught in the crossfire of US-China trade tensions, causing significant disruption in the automotive sector.
The Commission is now set to require sectors such as the car industry to diversify chip suppliers in certain cases, taking supply-chain risks into account in procurement decisions.
Despite these various initiatives, EU policymakers have grown wary that the current rules are too slow-moving for a fast-moving adversary. After duties were imposed on electric vehicle batteries, China’s focus simply shifted to hybrid vehicles.
Brussels is now moving towards a more systemic approach, treating trade defence as a toolbox to rebalance relations with China. One potential addition is a so-called overcapacity instrument to cap imports in specific sectors.
In recent weeks, China has repeatedly threatened retaliation if the EU presses ahead with closing its market to Chinese goods.
Both the “Made in Europe” legislation and the Cybersecurity Act have drawn Beijing’s ire, prompting intensified lobbying of Brussels and EU member states, with warnings that implementation will trigger a response.
The Europeans are walking a tightrope, acutely aware that their decisions could spark a trade war. After the EU imposed tariffs on Chinese electric vehicles in 2024, Beijing imposed tariffs on EU pork, brandy and dairy products.
“International trade is a two-way street. There’s no forced trade. The China-EU trade relations are win-win in nature. China does not aim for trade surplus,” Chinese Foreign Ministry spokesperson Mao Ning said at a press briefing on Thursday.
“The EU needs to put trade ties with China in perspective and honour its commitment to free trade. China will closely follow the EU’s moves and take all measures necessary to safeguard legitimate rights and interests,” Ning added.
Some argue it is already too late for the Europeans, who depend on China for key components of their supply chains — components Beijing can weaponize at will.
In 2025, China blocked exports of rare earths, which are vital for EU green technology and defence, as well as chips essential to the European car industry. Beijing can also leverage operating licences for EU companies and restrict access to its market at any time.
Europe is far from united on China.
Germany, despite a troubling trade deficit with Beijing, has been slow to shift away from its cooperative approach, which prioritises securing market access for German companies in China.
Berlin did not endorse last weekend’s non-paper backed by other major EU economies. Instead, German Economy Minister Katherina Reiche repeated this week that Germany’s overriding priority is to avoid jeopardising exports to China.
Yet the economic cost of dependence on Beijing might be forcing Berlin to reconsider its stance. The German government is reportedly weighing a tougher line that would mark a significant shift in its China policy.
For years, the German industry had a relationship with the Chinese market that critics described as toxic — one that blocked any meaningful attempt to rebalance the trade deficit out of fear of losing commercial access to the vast Asian market.
Spain has emerged as the other major EU country reluctant to act against China. With relatively cheap energy costs, Spain has become attractive to foreign investors, of which Beijing accounts for a growing share.
Its position caused embarrassment for Madrid this week, after it initially appeared to support the France-led non-paper before retreating and claiming it had merely participated in discussions.
“There has been no specific political support for any ‘non-paper’,” Spanish trade minister Carlos Cuerpo said, adding that the EU should “engage” with Chinese authorities through “dialogue.”
Brussels’ reassessment of its China stance has been long in the making, rooted in decades of deepening economic dependence. But the latest acceleration was also prompted by a shift in US posture, most visibly the recent visit to Beijing by President Donald Trump.
The Commission’s orientation debate on Friday was just a first step in what could become a broader repositioning. Where that leads — given internal divisions and the threat of retaliation — remains deeply uncertain.
The conclusions of that exercise are expected to feed into a discussion on economic security at the next European Council meeting on 18-19 June. China has appeared on EU leaders’ agenda several times in recent years, only to be pushed aside by more pressing crises.
While Brussels considers adding new instruments to its policy toolbox, political will remains the key determining factor. Nowhere is that gap more stark than in the EU’s handling of the anti-coercion instrument, also known as the “trade bazooka,” which was designed to push back against economic pressure and unfair trade restrictions.
“The anti-coercive instrument was never used, even though we have been coerced quite a lot,” the EU official said. “We need tools that we are actually willing to use.”
May 28 (UPI) — The U.S. military attacked Iran, Tehran confirmed early Thursday, as Iran announced retaliatory strikes of its own.
Iran targeted a U.S. air base at about 4:50 a.m. local time in response to the U.S. military striking presumed Iranian military assets near Bandar Abbas Airport in southern Iran.
“This response is a serious warning so that the enemy knows aggression will not go unanswered, and that in the event of a repeat, our response will be more decisive and the responsibility and consequences will lie with the aggressor,” Iran’s Islamic Revolutionary Guard Corps said in a statement carried by Iranian state media.
The air base targeted and whether it sustained damage were not known. The U.S. military has yet to comment.
The announcement came as the Kuwait Army said its air defenses were confronting “hostile missile and drone attacks.” While the United States maintains a significant military presence in Kuwait, it was not immediately clear whether those attacks were related to the U.S.-Iran exchange.
Explosions were heard near Bandar Abbas, Iranian state news agency Tasnim reported earlier Thursday.
Citing an unidentified military source, the news agency said the U.S. attack followed the Iranian Navy firing shots toward a U.S. oil tanker that had turned off its radar system and intended to pass through the Strait of Hormuz.
The oil tanker reportedly ended its attempt to transit the vital energy maritime trade route.
Iran has been enforcing has been restricting access through the Strait of Hormuz since the start of the war, permitting only certain vessels through. The United States responded with a military blockade of Iran’s ports, cutting it off from sea-based trade.
The two sides have been in talks since a fragile cease-fire was agreed to last month, with Thursday’s U.S. strikes on Iran the second time it has attacked the country so far this week.
On Monday, the U.S. military attacked southern Iran, describing the strikes as “self-defensive” in nature.
The Trump administration has repeatedly stated that it intends to secure free navigation of the Strait of Hormuz, one way or another, though it would prefer to do so through diplomacy.
Iran’s control of Hormuz is reportedly one of its conditions in negotiations on ending the war. In response to reports carried by Iranian state media that Iran and Oman, which border either side of the Strait of Hormuz, are in talks over control of the choke point, President Donald Trump said the transit route will be open to all countries and under no government’s control.
“It’s international waters. Nobody’s going to control it. We’re going to watch over it. We’ll watch over it, but nobody’s going to control it. That’s part of the negotiation that we’re having,” he told reporters during a Cabinet meeting on Wednesday.
“And Oman will behave just like everybody else or we’ll have to blow them up. They understand that. They’ll be fine.”
German Trade Minister Katherina Reiche is travelling to China from Tuesday to Friday as Berlin’s trade deficit with Beijing continues to deepen.
The trip comes two days after several of the EU’s largest economies – France, Spain, Italy, the Netherlands, as well as Lithuania – issued a non-paper urging the EU to crack down on Chinese overcapacity and unfair trade practices.
Berlin, however, did not endorse their call.
Germany remains the main chokepoint in the EU’s strategy towards China. While Euronews previously reported that the publication late last year of Germany’s trade deficit with Beijing marked a turning point for the EU executive, which is trying to sharpen its trade defence tools, Germany continues to favour cooperation with the Chinese.
In March, German Chancellor Friedrich Merz called for a trade agreement with Beijing. Brussels pushed back against the idea.
“There are a number of concerns and real challenges that the European Union has consistently expressed to China that we need to see them meaningfully address before we can even talk about any future agreements or anything like that,” the Commission’s deputy chief spokesperson, Olof Gill, said at the time.
Even with a record €87 billion trade deficit with China, Berlin hopes Beijing will keep its market open to German industry, despite the obstacles faced by EU businesses in China and the Asian giant’s strategy of reducing its dependence on foreign products.
The main objective of Reiche’s visit this week is to discuss potential economic cooperation. According to the German government, the strategy is to explore future opportunities for collaboration while maintaining dialogue with the Chinese leadership.
Despite a steadily growing trade deficit, China remained Germany’s most important trading partner in 2025. According to the Federal Statistical Office, bilateral trade volume reached €250 billion. Around 5,200 German companies operate in China, making the country one of the most important foreign markets for Germany’s automotive, mechanical engineering and electrical industries.
During the trip, Reiche is expected to hold political talks, attend a business forum and visit local companies. She will be accompanied by a business delegation representing around 40 companies. Discussions are also set to focus on the development of energy technologies.
“We hope the visit will help to transfer the insights gained on the ground into the political discussion in Berlin and to further develop bilateral exchange,” said Oliver Oehms, Executive Director of the German Chamber of Commerce in China.
In a survey published in May by the chamber, 51% of German companies operating in China supported policies favouring partnerships with Chinese companies, while 42% backed the “strategic” use of knowledge gained through such partnerships.
But these sectors are also increasingly under pressure, as Chinese competitors benefit from extensive state subsidies.
According to a report published in May by the EU think tank Centre for European Reform, the growing concentration of global car, machinery and chemicals production in China could weaken innovation in traditional manufacturing hubs and increase Beijing’s leverage over Berlin through the threat of supply disruptions, similar to its blockade of rare earth exports in 2025.
The report added that demand generated by Germany’s fiscal stimulus after easing its debt brake could end up boosting Chinese imports rather than supporting Berlin’s domestic industry.
German exports to China fell by 9.7% year-on-year, while imports of Chinese goods such as electronics, electric vehicles and components rose significantly by 8.8%.
“China has already eaten much of German industry’s lunch and is preparing to start on dinner,” the report said.
Africa’s Payments landscape is undergoing a significant transformation, fueled by advanced technologies and a surge in Cross-Border Trade. With AI and modular financial solutions taking root, African markets are quickly adopting faster, more secure, and seamless Payment experiences. But this shift isn’t just about digitisation—it’s about building a more resilient and inclusive financial ecosystem that empowers both businesses and individuals.
Africa’s Payments ecosystem isn’t a single, uniform market—it’s a complex tapestry of 54 countries, each with unique currencies, regulatory standards, and varying financial infrastructures. For corporates and financial institutions, this diversity presents challenges, but it also creates fertile ground for innovation.
The very intricacies that complicate Cross-Border Payments also encourage creative, technology-driven solutions that are tailored to local needs. This dynamic landscape invites forward-thinking approaches, making Africa a proving ground for Payment innovations with the potential to transform how value moves across the continent and beyond.
Africa’s diverse regulatory landscape demands adaptability in Cross-Border Payments. With each nation enforcing unique licensing, settlement, and risk rules, achieving a unified platform remains a significant challenge. Adding to the complexity is the growing insistence on local data storage to meet data sovereignty requirements, making compliance and technology integration even more intricate.
Instead of allowing regulatory hurdles to impede progress, industry leaders are using these complexities to build more adaptable and resilient systems. They’re advancing modular, “plug-and-play” platforms with strong governance, clear data separation, and flexible hybrid cloud infrastructure. This approach turns obstacles into opportunities for real innovation and growth.
This drive toward modularity has accelerated the adoption of Banking as a Service (BaaS), recasting Payments from a cost center into a strategic growth lever. Where corporates once saw Cross-Border Payment infrastructure as a burdensome expense, BaaS now allows secure, compliant Payment capabilities to be embedded directly into business platforms.
With a single integration, companies can navigate regulatory complexity, unlocking new revenue streams and harnessing Payment data to refine operations, understand customers, and deliver tailored services. Payments have become more than transactions—they’re a source of insight and innovation, fueling growth and competitive advantage.
Artificial Intelligence is transforming Transaction Banking in Africa, acting as a catalyst that enhances human expertise to improve efficiency and transparency. Rather than relying on the traditional first-in, first-out approach, AI now enables financial institutions to sort and route queries by urgency and complexity, streamlining exceptions and prioritising immediate needs. This reduces manual intervention and turnaround times, freeing teams to focus on deeper client relationships and higher-value tasks that improve service quality and satisfaction.
But AI’s impact goes far beyond boosting efficiency—it is transforming security and fraud detection across Africa’s digital Payments. As digital adoption rises, so does financial crime. AI uses real-time, behavior-based analytics to monitor transactions and learn each client’s typical patterns. This allows quick detection of anomalies and proactive fraud prevention, improving accuracy and reducing unnecessary disruptions while safeguarding customer trust.
As financial institutions adopt advanced AI systems, strong governance becomes critical. Without careful oversight, AI models built on limited or skewed data can unintentionally reinforce biases—delaying Payments or impacting service for certain groups. To maintain trust and fairness, banks must ensure they have strong accountability, transparent training of AI models and proactive monitoring so algorithms serve all customers equitably and uphold the highest industry standards.
Intra-African trade is experiencing unprecedented growth. As more businesses look beyond national borders, the demand for fast, accessible, and reliable Payment systems has never been greater. This surge in regional commerce is prompting the development of innovative Payment infrastructures that make Cross-Border transactions more seamless and inclusive.
Moving beyond the confines of Domestic Mobile Money networks, Telecom companies are developing Payment rails to enable real-time Payments that cross African borders with ease. This shift is especially transformative for small and medium-sized enterprises, opening fresh opportunities for growth and Cross-Border collaboration. By promoting interoperability and removing costly intermediaries, these regional networks make Payments faster, more affordable, and increasingly accessible.
As these Telecom-driven platforms continue to expand, they are enabling Africa’s Multi-Rail Payments ecosystem. Their ability to foster resilience, scalability, and efficiency is setting the stage for a future where regional Trade is not just possible, but practical for businesses of all sizes. This wave of innovation is redefining the landscape, ensuring that regional Payment Rails support and propel Africa’s economic growth for years to come.
Africa’s Cross-Border Trade is being reshaped by ongoing US dollar shortages and shifting macroeconomic forces. For import-dependent markets, these scarcities delay settlements, increase transaction costs, and tie up vital working capital. This environment demands new solutions and is pushing businesses to seek more efficient, reliable ways to move value across borders.
Concurrently, the region is experiencing rising Trade flows with Asia, and African businesses are rapidly adopting alternative Payment infrastructures. Platforms like the Cross-Border Interbank Payment System (CIPS) and greater use of the Chinese Renminbi offer new settlement options and critical flexibility. This shift reduces reliance on established networks such as Swift, giving companies more robust and diversified Payment infrastructure. As a result, importers and exporters can count on greater predictability, faster settlements, and lower intermediary costs—ultimately accelerating and scaling Cross-Border Trade across Africa.
Africa’s financial future is emerging as an ecosystem that is intelligent, instant, and seamlessly connected. Thriving in this landscape will require more than just advanced technology. It demands a clear understanding of local realities and global shifts. The leaders will be those who turn Africa’s complexity into intuitive, secure, and streamlined client experiences—setting new standards for growth, resilience, and trust in the continent’s rapidly evolving Payments Sector.
European Commission President Ursula von der Leyen and European Council President António Costa signed on Friday a revamped trade deal with Mexico as part of the EU’s efforts to expand its influence in Latin America, shortly after the Mercosur pact entered into force.
The deal was signed at an EU–Mexico summit in Mexico, with von der Leyen and Costa joined by the country’s President Claudia Sheinbaum, amid rising geopolitical tensions and shifting global alliances following the return of US president to the White House.
The economic partnership between the two medium-sized powers reflects efforts on both sides to reduce their dependence on the US — the EU’s and Mexico’s largest trading partner—and on China, for which Mexico has become a hub for electric vehicle production.
“The EU and Mexico are committed to a close strategic partnership,” von der Leyen said, adding: “Today’s modernised Agreements set out our shared vision of the future and will deliver many benefits for both sides.”
The EU–Mexico trade deal strengthens the EU’s diversification strategy by updating a 20-year-old agreement that had already eliminated tariff barriers on bilateral trade.
Under the new deal, the EU will access new markets for products, such as agri-food (pork, dairy, cereals, fruit and pasta), pharmaceuticals and machinery.
Mexico is the EU’s second-largest trading partner in Latin America and the EU is Mexico’s second-largest export market. Trade between both sides reached €86.8 billion in goods in 2025, alongside €29.7 billion in services in 2024.
The figures remain far smaller than Mexico’s trade with its neighbour, the US, which exceeded $900 billion in goods and services in 2024. But the deal comes as Mexico faces mounting pressure from a more protectionist White House.
For its part, the EU has been grappling with repeated tariff threats from Trump despite a trade deal clinched in 2025.
“At a time of growing global uncertainty, the EU and Mexico are choosing openness, partnership and ambition,” EU trade Commissioner Maroš Šefčovič, who was also in Mexico City, said. He pointed out that more than 43,000 European companies export to Mexico, while over 11,000 EU companies operate in the country.
On agriculture, the pact will open up new markets for Mexican products such as coffee, fruit, chocolate and agave syrup.
A total of 568 European and 26 Mexican geographical indications will also be protected, alongside the opening of public procurement markets, according to the Commission.
With this new deal, the EU also wants to signal its strengthened presence in Latin America, where China has expanded its influence.
“97% of the GDP of Latin America and the Caribbean will be covered by sophisticated preferential agreements with the European Union,” a senior EU official said, adding: “There is no other region in the world that has such a dense and connected network of agreements.”
The EU has already built new trade ties with Argentina, Brazil, Paraguay and Uruguay through the Mercosur trade agreement, which provisionally entered into force on 1 May and liberalises trade flows between the EU and those countries.
However, its signing has faced strong opposition from EU farmers, who fear unfair competition from Latin American imports, and ratification was suspended after MEPs challenged the agreement before the EU Court of Justice.
Brussels argues the Mexico agreement should avoid the backlash faced by Mercosur because sensitive agricultural imports remain capped through tariff quotas.
Dilok Klaisataporn
Japan reported a trade surplus of JPY 301.9 billion in April 2026, compared to a deficit of JPY 149.5 billion in April 2025, significantly exceeding expectations for a JPY 29.7 billion deficit.
This surplus is the largest since November, with exports