trade

The world’s largest shipping company MSC has been moving goods to and from illegal Israeli settlements in the occupied West Bank and Syria’s occupied Golan Heights, with the help of European port operators.

Taipei agrees to buy some $85bn of US energy, aircraft and equipment in exchange for 15 percent tariff rate.

The United States and Taiwan have finalised a trade deal to reduce tariffs on Taiwanese exports and facilitate billions of dollars of spending on US goods.

The agreement announced on Thursday lowers the general tariff on Taiwanese goods from 20 percent to 15 percent, the same level as Asian trade partners South Korea and Japan, in exchange for Taipei agreeing to buy about $85bn of US energy, aircraft and equipment.

Under the deal, Taiwan will eliminate or reduce 99 percent of tariff barriers and provide preferential market access to numerous US goods, including auto parts, chemicals, machinery, health products, dairy products and pork, the office of the US trade envoy said in a statement.

The US will, in turn, exempt a large range of Taiwanese goods from tariffs, including chalk, castor oil, pineapples and ginseng.

Taiwanese President William Lai Ching-te said Taipei had secured tariff exemptions for some 2,000 Taiwanese products, hailing the agreement as a “pivotal” moment for the self-governing island’s economy.

Lai said the deal, when various carve-outs are included, would take the average tariff rate on Taiwanese goods to 12.3 percent.

“From familiar items such as Phalaenopsis orchids, tea, bubble tea ingredients (tapioca starch), and coffee, to pineapple cakes, taro, pineapples, and mangoes – these products that represent Taiwan will become more price-competitive in the US market,” Lai said in a statement on social media.

“We aim not only to sell Taiwan’s great flavors overseas, but also to ensure Taiwanese brands truly enter international markets,” he said.

Lai made no mention of Taiwan’s chip industry, a crucial driver of the island’s economy that is estimated to account for up to 20 percent of gross domestic product (GDP).

Taiwan’s exports rose by 35 percent in 2025 on the back of furious demand for its AI chips, hitting a record $640.75bn.

Thursday’s agreement notably does not include specific commitments from Taiwan to invest in the US chip industry, despite an announcement by US President Donald Trump’s administration last month that Taiwanese firms would pour $250bn into the sector.

A fact sheet released by the Office of the US Trade Representative said the two sides “take note” of the January deal, which included a prior commitment by chip giant Taiwan Semiconductor Manufacturing to invest $100bn in the US.

US Trade Representative Jamieson Greer said Thursday’s agreement built on the longstanding trade relations between Taiwan and the US and would “significantly enhance the resilience of our supply chains, particularly in high-technology sectors”.

“President Trump’s leadership in the Asia Pacific region continues to generate prosperous trade ties for the United States with important partners across Asia, while further advancing the economic and national security interests of the American people,” Greer said.

Nearly one-third of Taiwan’s exports went to the US in 2025, making the country the island’s biggest market for the first time since 2000.

SACRAMENTO — Gov. Gavin Newsom is heading to a conference of world leaders in Germany later this week as part of his ongoing effort to use the global stage to urge investment in California’s climate-related initiatives and challenge President Trump’s isolationist policies.

Newsom will appear at the Munich Security Conference to talk about trade and jobs and tell foreign leaders that “California is a stable and reliable partner,” he said Tuesday during an unrelated event.

U.S. Secretary of State Marco Rubio is leading the official U.S. delegation to the conference, while Democratic leaders Michigan Gov. Gretchen Whitmer and Rep. Alexandria Ocasio-Cortez of New York are also expected, according to news reports.

The three-day event focuses on the intersections of trade, economics, security and foreign policy, and is expected to draw business leaders and heads of state.

Vice President JD Vance’s appearance at last year’s gathering caused a stir after he argued that European’s immigration policies are too relaxed and European nations are too reliant on the United States.

Ahead of the gathering, conference organizers released a report Monday that found that the “world has entered a period of wrecking-ball politics. Sweeping destruction — rather than careful reforms and policy corrections — is the order of the day.”

Newsom told reporters that he will appear on several panels, and suggested he will focus in part on staying competitive with China when it comes to new technologies and job growth.

“China is cleaning our clock as it relates to low-carbon green growth. They are cleaning our clock in terms of not just electric vehicles, because it’s not about electric power, it’s about economic power,” he said.

“It’s about exports, manufacturing, jobs — and this country is walking away,” he continued. “We are walking away from science and we are walking away from common sense.”

“Gavin Newscum is traveling to another international conference to whine about climate policies instead of doing his job as the governor of California?” said White House spokesperson Taylor Rogers, using President Trump’s derogatory nickname for the governor. “Nothing new to see here.”

Newsom is in his last year as California governor and is considering running for president in 2028. He last month traveled to the World Economic Forum in Davos, Switzerland, where he criticized world leaders for not challenging Trump’s aggressive posture when it comes to his threats to acquire Greenland, as well as his tariffs.

Newsom also attended the U.N. climate policy summit in Belém, Brazil, in November.

Milan, Italy – The world’s largest shipping line has been enabling the transport of goods to and from illegal Israeli settlements in the occupied West Bank, as the United States and Europe continue to promote trade despite clear responsibilities under international law, a joint investigation by Al Jazeera and the Palestinian Youth Movement (PYM) reveals.

The Switzerland-based Mediterranean Shipping Company (MSC) has regularly shipped cargo from companies based in Israeli settlements in the occupied Palestinian territory, according to commercial documents obtained through US import databases.

Between January 1 and November 22, 2025, lading bills show that MSC facilitated at least 957 shipments of goods from Israeli outposts to the US. Of these shipments, 529 transited through European ports, including 390 in Spain, 115 in Portugal, 22 in the Netherlands, and two in Belgium.

MSC is privately owned by Italian billionaire Gianluigi Aponte and his wife, Rafaela Aponte-Diamant, who was born in the Israeli city of Haifa in 1945, then under British rule as Mandatory Palestine.

“Israeli settlements are widely considered illegal under international law, because they are built on occupied territory, in violation of the Fourth Geneva Convention,” Nicola Perugini, senior lecturer in international relations at the University of Edinburgh, told Al Jazeera. “Commercialising products from these settlements effectively supports the illegal settlements.”

The findings capture a limited portion of the settlement trade, since import and export data from Israel and most European countries is not publicly available. They reveal a reliance on cargo shipping companies and European maritime ports for the transport of a vast range of settlement products, from food items and textiles to skin care and natural stones.

Perugini said states should ban trade with illegal settlements entirely, as it contributes to ongoing violations of international law.

“You cannot normalise the profits of an illegal occupation,” he said.

US, EU positions on illegal settlements

Under President Donald Trump, the US adopted a permissive stance towards Israeli settlements, reversing decades of policy in 2019. Washington declared them as not inherently illegal under international law and continued this approach upon Trump’s re-election in 2025.

While the EU does not recognise Israel’s sovereignty over West Bank settlements and regards them as an “obstacle to peace”, the findings show that goods were delivered directly from European ports to illegal settlements.

In 2025, MSC facilitated at least 14 shipments from Italy, according to Italian export data. In each case, the cargo originated from the port of Ravenna, which stretches along the Adriatic Sea in central Italy, and openly listed the names and zip codes of Israeli settlements as recipients.

The trade stands in contrast with a landmark 2024 opinion by the International Court of Justice (ICJ) advising that third states are obliged to “prevent trade or investment relations that assist in the maintenance of the illegal situation created by Israel in the Occupied Palestinian Territory”.

The ICJ opinion does not directly address the responsibility of private corporations like MSC.

In April, the UN Human Rights Council urged individual corporate actors to “cease contributing to the establishment, maintenance, development or consolidation of Israeli settlements or the exploitation of the natural resources of the Occupied Palestinian Territory”.

Additionally, a 2024 EU directive on corporate sustainability mandates that large companies working in the bloc identify and address adverse human rights and environmental impacts in their operations.

PYM, a grassroots, international pro-Palestinian movement, last year found that Maersk, Denmark’s publicly owned shipping company, facilitated trade from Israeli settlements.

The world’s biggest container group before being overtaken by MSC in 2022, Maersk is now reviewing its screening process to align with the UN Global Compact, which urges companies to adopt sustainable, socially responsible policies, and guidelines from the Organization for Economic Co-operation and Development (OECD) to the same effect.

MSC told Al Jazeera in a statement that it “respects global legal frameworks and regulations wherever it operates” and applies this “to all shipments to and from Israel”.

Despite insurance companies raising premiums due to security risk as Israel launched its genocidal war on Gaza in October 2023, MSC announced that it would absorb the extra costs rather than impose war surcharges.

It also holds cooperation and vessel-sharing agreements with Israel’s publicly held cargo shipping company, ZIM.

The Spanish and Italian interior ministries were also contacted by Al Jazeera, but did not respond to requests for comment on the shipments.

The Israeli ministry did not respond to requests for comment.

Sustaining settlement economy

According to UN estimates, settlements in Area C – comprising more than 60 percent of the occupied West Bank that Israel controls – and occupied East Jerusalem contribute about $30bn to the Israeli economy each year.

As Israel enforces administrative and physical barriers that severely limit Palestinian businesses, the West Bank’s economy is understood to have suffered a cumulative loss of $170bn between 2000 and 2024.

Israel has recently accelerated efforts to build illegal settlements in the heart of the occupied West Bank, pressing a controversial project known as E1 that could effectively sever Palestinian land and further cut off East Jerusalem.

The plan includes about 3,500 apartments that would be situated next to the existing settlement of Maale Adumim.

Israel’s far-right finance minister, Bezalel Smotrich, said the project would effectively “bury” the idea of a sovereign Palestinian state.

In August, 21 countries, including Italy and Spain, condemned the plan as a “violation of international law” that risked “undermining security”.

Bills of lading obtained by Al Jazeera and PYM show that MSC delivered shipments on behalf of at least two companies, listing their address in Maale Adumim and the nearby Mishor Adumim industrial zone.

Maya, a wholesale supplier for supplement and candy companies, lists Mishor Adumim in the shipper address in 13 out of 14 shipments. Extal, a private company that develops aluminium solutions and holds partnerships with Israeli weapons manufacturers – including Israel Aerospace Industries (IAI) and Rafael Advanced Defense Systems – listed the Mishor Adumim industrial zone in all 38 bills of lading.

Extal is among 158 companies listed by the UN Human Rights Office (OHCHR) in its database of entities officially known to be operating from illegal Israeli settlements.

In at least three other cases, MSC delivered shipments on behalf of settlement-based companies listed in the OHCHR database.

This includes 17 shipments from Ahava Dead Sea Laboratories, an Israeli world-renowned cosmetic brand that has come under intense scrutiny for reportedly pillaging Palestinian natural resources.

A substantial portion of the settlement-based companies listed in the bills of lading were based in the Barkan Industrial Zone, one of the largest in the occupied West Bank. The area was established on confiscated private Palestinian agricultural land and, over the past 20 years, its expansion has led to the fragmentation and isolation of nearby Palestinian villages.

Obligation to uphold human rights

European member states are aware of a gap between the business-as-usual reality on the ground and the mandates of international law.

In June, nine EU countries called on the European Commission to come up with proposals on how to discontinue EU trade with Israeli settlements.

“This is about ensuring that EU policies do not contribute, directly or indirectly, to the perpetuation of an illegal situation,” the letter addressed to EU foreign policy chief Kaja Kallas said. It was signed by foreign ministers from Belgium, Finland, Ireland, Luxembourg, Poland, Portugal, Slovenia, Spain and Sweden.

The European Commission has not fulfilled the request. Currently, products originating from the settlements can be imported into Europe, but do not benefit from the preferential tariffs of the EU-Israel Association Agreement. Since an EU court ruling in 2019, they must be labelled as originating from Israeli settlements.

Hugh Lovatt, senior policy fellow with the Middle East and North Africa programme at the European Council on Foreign Relations (ECFR), said the EU theoretically has an obligation to align its policies with international law.

Whether that happens “comes down to a political decision”.

“Human rights abuses should be a core criterion for deciding what to buy and what to invest in,” he said. “But in the current global attitude, that approach has been increasingly undermined.”

In 2022, restrictions on trade and investment were imposed on Russian-controlled areas of Ukraine following Moscow’s full-scale invasion, but no similar measures were taken towards illegal Israeli settlements.

A few member states have opted to take independent action. Spain and Slovenia last year banned the imports of goods produced in Israeli settlements, while Ireland, Belgium and the Netherlands are working on legislation.

As of January 2026, Spain banned importing goods produced in Israeli settlements, but its measures do not make explicit mention of transshipments through its ports.

Bills of lading obtained as part of this investigation show that the port of Valencia plays a key role, receiving 358 out of a total of 390 shipments transiting through Spain.

Several bills of lading directly reference illegal settlements in the Syrian Golan Heights.

Aquestia Ltd, a company that specialises in hydraulic systems, list Kfar Haruv and Ramat HaGolan in the shipper address. Miriam Shoham, which exports fresh fruit, also lists Ramot HaGolan, while polypropylene manufacturer Mapal Cooperative Society lists Mevo Hama.

PYM said, “MSC’s transfers to and from Israeli settlements are systemic and in violation of both international and domestic Spanish laws.

“MSC provides the infrastructure connecting illegal settlements to global markets, thus encouraging further occupation of Palestinian and Syrian land.”

I just read Bill Shaikin’s excellent column contrasting the Dodgers’ option to visit the White House with Jackie Robinson’s legendary civil rights stands throughout his life.

As a lifetime Dodger fan who has tried to stay as apolitical as possible, I would be absolutely ashamed of my Dodgers if they were to attend this photo op. I was ashamed last year, too. But nowhere near as much as this year.

Please don’t go.

Eric Monson
Temecula

Just to let Dave Roberts know, there is something bigger than baseball. On the wall in my den are my father’s medals: a Purple Heart and a Bronze Star from when the United States sent my father, Marcelo Villanueva, and others like him, to fight Adolf Hitler.

When our freedoms are being taken away, it’s not OK if you go to the White House and visit the man who is taking them away. Which means my father fought for nothing. You should be ashamed of yourself. You don’t deserve to wear the same uniform Jackie Robinson did.

Ed Villanueva
Chino Hills

I agree with Bill Shaikin that for the world champion Dodgers to visit the fascist friendly White House would be an implicit contradiction of Jackie Robinson’s legacy. Most of the players probably don’t care, but you wish a manager like Dave Roberts (in L.A.!) were as smart and sensible as Steve Kerr. Apparently he is not.

Sean Mitchell
Dallas

I couldn’t disagree more with Bill Shaikin and his stance that the Dodgers should decline the opportunity to visit the White House. In a world of increasing stresses and dangers, sports is, or should be, a reprieve from the news reported on the front pages. After 9/11, for example, we celebrated the return of baseball as a valued respite from the tragedies we were dealing with. Allow baseball to continue to be this respite, Bill, and stop trying to drag sports into the fray.

Steve Kaye
Oro Valley, Ariz.

Bad look, Dave. It doesn’t help to invoke Jackie Robinson, then in the next breath, “I am (just) a baseball manager.”

Can’t have it both ways. Shaikin is right. Decline.

Joel Soffer
Long Beach

If Roberts feels he needs to go, he should. But the rest of the team should not. Dodger management should support them. Roberts conveniently thinks that going is not a political statement. It is. Roberts’ going supports Trump. The man who raised him and served this country did not do so to see it under the thumb of a corrupt man who attacks all that it has stood for. Today we are all politically identified by the choices we make. There’s no avoiding it.

Eric Nelson
Encinitas

Bill Shaikin nailed it when he talked about and quoted Jackie Robinson and compared him to Dave Roberts’ spineless decision to take the Dodgers to the White House. It’s “only” sports? A team of this renown, in a city terrorized by ICE, in a state directly harmed by Trump? Thank you, Mr. Shaikin, for calling Roberts out.

Ellen Butler
Long Beach

Thank you, Dave Roberts, for making the decision to go to the White House and celebrate our Dodgers’ victory in the World Series. It’s a thing called respect for the office of the president no matter what political party is involved. I don’t care about the L.A. Times sports writers’ politics, so keep your political opinions out of the Sports pages.

Lance Oedekerk
Upland

Feb. 6 (Asia Today) — U.S. Secretary of State Marco Rubio has conveyed growing unease in Washington over South Korea’s implementation of bilateral trade commitments, South Korean Foreign Minister Cho Hyun said Thursday, as Seoul moves to contain fallout through intensive diplomatic outreach.

Cho told Korean correspondents in Washington that Rubio raised the issue directly during their meeting at the State Department on Monday, noting that while bilateral ties are not in crisis, the internal U.S. mood regarding delayed trade-related commitments is “not favorable.”

According to Cho, Rubio stressed that trade and investment issues fall outside his direct portfolio but said he felt obliged to flag the concern in his broader role overseeing U.S. foreign policy and national security. Rubio also urged closer diplomatic coordination to prevent trade friction from spilling over into security cooperation.

Cho said he responded by firmly rejecting any suggestion that Seoul is deliberately delaying implementation. He emphasized that South Korea remains committed to fulfilling trade agreements and that legislative and procedural timelines reflect domestic processes rather than political intent.

Cho underscored Seoul’s position that trade and security should be handled separately, pointing to the structure of the bilateral summit’s Joint Fact Sheet, which divides cooperation into economic and security pillars. He warned that differences in implementation speed should not impede cooperation in strategic areas such as nuclear energy, nuclear-powered submarines and shipbuilding.

Cho said Rubio agreed that neither side wants delays in implementing agreements across either domain and pledged personal oversight, noting that the matters fall under the purview of the State Department and the White House National Security Council.

During his Washington visit, Cho pursued what officials described as a broad diplomatic push, engaging not only on security but also on trade and investment. On Tuesday, he met sequentially with Rubio, Energy Secretary Chris Wright and U.S. Trade Representative Jamieson Greer on the sidelines of a critical minerals ministerial meeting.

Cho said Greer acknowledged the potential economic impact of renewed tariffs but stressed the importance of South Korea demonstrating tangible progress not only in strategic investment but also in addressing non-tariff barriers. Talks with Wright focused on nuclear cooperation, including enrichment, reprocessing rights and collaboration on nuclear-powered submarines.

A senior South Korean official said Washington had long harbored frustrations over the pace of Korea’s domestic procedures but noted that President Donald Trump’s decision to air concerns publicly on social media last month marked a departure from past communication practices. Trump had warned that tariffs on South Korean goods could be restored to 25% if legal steps tied to the trade agreement were not completed.

The official said Cho cautioned Rubio that such public announcements could complicate bilateral relations and burden domestic efforts needed to advance U.S.-bound investment.

On a separate controversy involving e-commerce firm Coupang, the official said Seoul views the issue as corporate lobbying rather than a diplomatic dispute, adding that congressional interest reflects pressure from private-sector advocacy. Given the potential for legal escalation, the government is exercising caution, the official said.

Cho also met with U.S. lawmakers from both parties, including Sens. Tom Cotton, Tim Kaine, Andy Kim and Jeff Merkley, to discuss the U.S.-South Korea alliance, regional security and economic cooperation.

Cho urged congressional support for accelerating cooperation in nuclear energy, submarine technology and shipbuilding, calling them central to elevating the alliance amid a shifting global landscape. Lawmakers expressed bipartisan backing for the alliance and signaled openness to deeper cooperation, while emphasizing adherence to nonproliferation norms.

South Korea, Cho said, will pursue implementation of the Joint Fact Sheet with strict separation between military and civilian nuclear use, transparency and close coordination with the United States and the International Atomic Energy Agency.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260206010002394

From Broderick Turner: The biggest news for the Lakers on Thursday was that All-Star guard Luka Doncic was unable to play in the second half against the Philadelphia 76ers because of left leg soreness, the team announced in the third quarter.

Doncic left the game in the second quarter of the Lakers’ 119-115 win at Crypto.com Arena.

The Lakers were undaunted by Doncic’s departure, coming back from 14 points down and holding on for the win by following the lead of Austin Reaves, LeBron James, Rui Hachimura and a strong defensive effort led by Marcus Smart and Jarred Vanderbilt.

After the game in which Reaves led the Lakers in scoring with 35 points off the bench, the biggest concern for the Lakers was the health of Doncic.

“He felt some soreness in his hamstring so he didn’t feel like it was good enough to go back in [and] neither did [our medical team,] ” Lakers coach JJ Redick said. “So, we held him out and they [are] going to do some imaging. It’s too early to say if there’s an injury, but [he] just had a sore hamstring.”

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MORE NBA NEWS

Lakers acquire Luke Kennard, prepared to pursue Giannis Antetokounmpo this summer

Clippers trade Ivica Zubac to Pacers for Bennedict Mathurin, first-round picks and more

Stafford announces decision while accepting MVP award

From Gary Klein: Rams quarterback Matthew Stafford will be back for an 18th NFL season.

And he’ll do it as the reigning NFL most valuable player.

On Thursday night, Stafford was announced as the MVP during NFL Honors at the Palace of Fine Arts.

And then he made a big announcement of his own.

Stafford, wearing a black tuxedo with a black shirt and black bow tie, accepted the award on stage with his four young daughters, who attended most games this season. He thanked his wife, Kelly; family; teammates; coaches; and those who helped him reach the milestone.

“I’m so happy to have you at the games on the sideline with me and I can’t wait for you to cheer me on next year when we’re kicking a—,” Stafford said to his daughters, before turning his attention to the audience.

“And so I’ll see you guys next year,” he said as a crowd that included coach Sean McVay and several teammates began to roar. “Hopefully, I’m not at this event and we’re getting ready for another game at SoFi.”

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MORE RAMS NEWS

Rams will play the San Francisco 49ers in Australia next season

How to watch the Super Bowl

Sunday

at Santa Clara

Seattle vs. New England

3:30 p.m. PT, NBC, Peacock, Telemundo, KLAC AM 570

Halftime show: Bad Bunny

National anthem: Charlie Puth

Odds: Seahawks favored by 4.5 points

Over/Under: 45.5 points

Dodgers to visit the White House

From Ana Ceballos and Ed Guzman: The Dodgers will make a return trip to the White House in recognition of their latest World Series title.

President Trump is planning to host the team, but no date has been set for the ceremony, a White House official confirmed Thursday morning.

The Dodgers went to the White House following their two previous World Series championships, hosted by President Biden in 2021 and President Trump last April.

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U.S. women’s hockey makes history as it wins Olympic opener

From Kevin Baxter: Laila Edwards finally got out from under the spotlight and onto the ice for the U.S. women’s hockey team Thursday. It was a simple act, but one that made history.

Yet for Edwards, it was just another day at the office.

“It didn’t feel different at all,” she said. “It’s still hockey at the end of the day. Even though it’s the highest level, it’s still hockey.”

With her first shift in Thursday’s 5-1 win over Czechia, on the first day of hockey at the Milan-Cortina Winter Games, Edwards became the first Black woman to play for the U.S. national team in an Olympic tournament. On a team full of record-breakers, it was a significant milestone, one that has become a storyline for the world’s top-ranked team.

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Alysa Liu returns to Olympics after a brief retirement

From Thuc Nhi Nguyen: Alysa Liu wore a hollow smile on the ice. She had achieved a dream, skating at the Beijing Olympics at just 16, but in a mostly empty arena, few were there to see the moment.

Perhaps that was what Liu secretly wanted.

“It’s not that I didn’t want to be seen,” Liu said. “It’s just I had nothing to show.”

The 20-year-old now proudly presents Alysa Liu 2.0.

Four years after shocking the sport by retiring as a teenage phenom, the Oakland native could win two gold medals at the Milan-Cortina Olympics. She is a title contender in her individual event that begins Feb. 17 as the United States tries to end a 20-year Olympic medal drought in women’s singles figure skating, and she will skate Friday in the women’s short program of a team competition the United States is favored to win.

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Olympics newsletter

Starting Saturday, you will receive a separate newsletter containing all the Olympics news from our reporters in Italy, including a medal count and TV listings. Sports Report subscribers will automatically get this newsletter, and it should arrive around 3 a.m. in your inbox.

Friday’s Olympic TV/streaming schedule

Friday’s live TV and streaming broadcasts unless noted (subject to change). All events stream live on Peacock or NBCOlympics.com with a streaming or cable login. All times Pacific.

OPENING CEREMONY: 11 a.m.| NBC, Peacock
(replay at 8 p.m. on NBC)

MULTIPLE SPORTS
7 p.m. — “Primetime in Milan” (delay): Figure skating, curling, hockey, skiing and more.| NBC

ALPINE SKIING
2:30 a.m. — Men’s downhill, training | Peacock
2:30 a.m. — Women’s downhill, training | Peacock

CURLING
Mixed doubles (round robin)
1:05 a.m. — U.S. vs. Canada | Peacock
1:05 a.m. — Italy vs. Switzerland | Peacock
1:05 a.m. — Sweden vs. Britain | Peacock
5:35 a.m. — Czechia vs. U.S. | Peacock
5:35 a.m. — Estonia vs. Italy | Peacock
5:35 a.m. — South Korea vs. Britain | Peacock
5:35 a.m. — Sweden vs. Norway | Peacock
5:55 a.m. — Czechia vs. U.S. (in progress) | USA

FIGURE SKATING
Team competition
1 a.m. — Rhythm dance | USA
2:35 a.m. — Pairs, short program | USA
4:35 a.m. — Women, short program | USA

HOCKEY
Women (group play)
3:10 a.m. — France vs. Japan | Peacock
5:40 a.m. — Czechia vs. Switzerland | Peacock

USC extends its winning strea

From The Times staff: The USC women’s basketball team rolled to an 83-65 victory over Northwestern at Welsh-Ryan Arena on Thursday night, extending their win streak to three games.

USC freshman Jazzy Davidson and redshirt freshman Laura Williams helped the Trojans open the game on an 11-0 run, claiming a lead they would never relinquish.

“I feel like as a team with these last couple of games, we’ve improved a lot,” sophomore guard Kennedy Smith said. “We’ve stayed consistent and are playing together and growing as a team, and that starts in practice. Just a lot of conversations about being better, obviously through that stretch of losses, but that doesn’t define us. I think the games matter the most in February and March, so we’re here to be better from here on out.”

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USC summary

Big Ten standings

Kings lose to Golden Knights

From the Associated Press: Mark Stone had a goal and two assists and the Vegas Golden Knights took control early Thursday night by scoring four times on their first six shots for a 4-1 victory over the Kings.

Vegas heads into the Olympic break with back-to-back victories after losing seven of eight games. The Kings have lost four of five.

Jack Eichel and Pavel Dorofeyev each had a goal and an assist for the Golden Knights. Mitch Marner scored a goal for his 799th career point and Ivan Barbashev extended his points streak to five games with two assists.

Barbashev’s four-game goal streak, however, ended. Eichel extended his points streak to four games and now has 200 assists in a Golden Knights uniform.

Continue reading here

Kings summary

NHL standings

This day in sports history

1943 — Montreal’s Ray Getliffe scores five goals to lead the Canadiens to an 8-3 triumph over the Boston Bruins.

1958 — Ted Williams signs a contract with the Boston Red Sox for $135,000, making him the highest paid player in major league history.

1967 — Muhammad Ali successfully defends his world heavyweight title with a 15-round decision over Ernest Terrell in the Houston Astrodome.

1970 — The NBA expands to 18 teams with the addition of franchises in Buffalo, Cleveland, Houston and Portland.

1981 — Wayne Gretzky scores three goals and three assists in a 10-4 Edmonton victory over the Winnipeg Jets, giving him 100 points in the season.

1985 — Seventeen-year-old Dianne Roffe becomes the first U.S. woman to win a gold medal in a World Alpine Ski Championship race, capturing the giant slalom in 2:18.53.

1988 — Chicago’s Michael Jordan wins the NBA Slam Dunk contest with a perfect score of 50 on his final dunk, in front of a hometown crowd at Chicago Stadium.

1990 — Brett Hull of the St. Louis Blues scores his 50th goal, making him and his Hall of Famer father, Bobby Hull, the only father-son combination in NHL history to reach that milestone.

1993 — Riddick Bowe easily wins his first defense of his WBA and IBF heavyweight boxing titles by beating Michael Dokes in the first round of their championship bout held at New York’s Madison Square Garden.

2000 — Randy Moss sets records with nine catches for 212 yards, and Mike Alstott scores three touchdowns in the NFC’s 51-31 victory over the AFC, the highest-scoring Pro Bowl.

2000 — Pavel Bure records the 11th hat trick in All-Star history and goalie Olaf Kolzig plays a shutout third period as the World team routs North America 9-4 in the NHL’s 50th All-Star game.

2005 — The New England Patriots win their third Super Bowl in four years, 24-21 over the Philadelphia Eagles. It’s their ninth straight postseason victory, equaling Vince Lombardi’s Green Bay Packers.

2011 — New England Patriots quarterback Tom Brady becomes the first unanimous choice for The Associated Press NFL Most Valuable Player Award. Brady gets all 50 votes since the AP began using a nationwide panel of media members who cover the league.

2011 — Aaron Rodgers throws three touchdown passes and Nick Collins returns an interception for another score, leading the Green Bay Packers to a 31-25 victory over the Pittsburgh Steelers in the Super Bowl.

2022 – NFL Pro Bowl, Allegiant Stadium, Las Vegas, Nevada: AFC beats NFC, 41-35; MVPs: Justin Herbert, QB LA Chargers; Maxx Crosby, DE LV Raiders.

Compiled by the Associated Press

Until next time…

That concludes today’s newsletter. If you have any feedback, ideas for improvement or things you’d like to see, email newsletter editor Houston Mitchell at houston.mitchell@latimes.com. To get this newsletter in your inbox, click here.

BUENOS AIRES — Argentina and the United States said they reached an expansive trade deal Thursday, boosting President Javier Milei as he moves to open up the South American nation’s notoriously protectionist economy and reflecting the close alliance between the radical libertarian and President Trump.

Argentina’s foreign minister, Pablo Quirno, posted a selfie on social media showing him and several diplomats beaming after emerging from a meeting in Washington where he said they’d signed the pact.

“Congratulations to our team and thanks to the U.S. Trade Representative’s team for building this great agreement together,” Quirno wrote. The Office of the U.S. Trade Representative also confirmed the deal.

The countries announced a framework for the agreement in November, saying Argentina would ease restrictions on a range of American imports, including cattle, dairy products, medicines, chemicals, machinery, medical devices and vehicles. Those were key concessions for Argentina, where local industries long protected by steep tariffs have expressed concern about their ability to compete with American manufacturers.

The U.S., for its part, would remove reciprocal tariffs on imports of “certain unavailable natural resources” and ingredients for pharmaceutical goods from Argentina, according to the framework.

At the time, the White House reached similar frameworks with Ecuador, Guatemala and El Salvador — part of what it described as an effort to improve the ability of American firms to sell industrial and agricultural products in Latin American countries and bring down food prices for U.S. consumers.

Officials did not immediately offer details about the final version of the U.S.-Argentina deal signed Thursday.

The agreement marks the latest development in the close alliance between Trump and Milei, who has reshaped Argentine foreign policy to align with the U.S., earned Trump’s praise for stabilizing his nation’s crisis-prone economy and traveled to the U.S. more than a dozen times in the last two years. Milei is scheduled to appear at Trump’s Mar-a-Lago estate next week to speak at a gala.

Trump supported Milei’s fiscal program last year with a $20-billion credit line that succeeded in calming markets and boosting Milei’s prospects in a crucial midterm election in October. The U.S. Treasury also directly purchased U.S. dollar-denominated Argentine bonds that ratings agencies were classifying as “junk” at the time and snapped up the volatile local currency that Argentines were dumping in droves.

The extraordinary intervention drew backlash from across the U.S. political spectrum.

Trump’s MAGA base questioned the need to bail out a far-flung country that’s not only of little importance to the U.S. but also directly competes with its exports of corn, wheat, meat and oil.

Democratic lawmakers expressed outrage that Trump was staking taxpayer money on a political gift to an ideological soulmate.

That criticism has continued, with U.S. Sen. Elizabeth Warren of Massachusetts, the top Democrat on the Senate Banking Committee, on Thursday appealing to Treasury Secretary Scott Bessent to end the $20-billion lifeline.

In a letter, she wrote that even though the Treasury promised its credit line for Argentina “was for an acute, short-term, and urgent purpose, it appears … to have left open the possibility of continued use.”

Debre writes for the Associated Press. AP writer Josh Boak in Washington contributed to this report.

The Clippers have acquired high-scoring wing Bennedict Mathurin, center Isaiah Jackson and two draft picks from the Indiana Pacers for center Ivica Zubac, a person with knowledge of the deal not authorized to speak publicly on the matter said Thursday.

Los Angeles will receive Indiana’s protected 2026 first-round draft pick and a 2029 first-round pick. This year’s selection is protected if the Pacers have a top four selection or if it falls between selections 10 and 30.

The Pacers get the center they’ve needed since losing Myles Turner in free agency last summer. Zubac, who will turn 29 next month, is signed through the 2027-28 season and was a second team Allll-Defensive team selection last year. He’s averaging 14.4 points and 11.0 rebounds while shooting 61.3% from the field.

Mathurin, 23, was set to become a restricted free agent next summer, and it wasn’t clear if the Pacers could afford to keep him. He recently returned from toe and thumb injuries that kept him out for most of January. He’s averaging 17.8 points and 5.4 rebounds this season and has improved significantly as a defender during his fourth season.

Jackson has started 14 times in 38 games this season and is averaging 6.4 points and 5.6 rebounds while shooting 58.2% from the field.

The move comes just days after the Clippers also traded James Harden to Cleveland for Darius Garland in a swap of point guard and adds more draft picks to Los Angeles’ growing stockpile of selections.

Feb. 5 (UPI) — Though still awaiting Senate confirmation, Jennifer Wicks McNamara is preparing to land in Hanoi not with a ceremonial bouquet, but with a tariff ledger in hand instead.

The ambassador-designate steps into a newly minted “comprehensive strategic partnership” now defined less by warship visits and more by a $144 billion trade gap, market-economy disputes and rising economic friction between Washington and one of its most pivotal Asian partners.

Her posting follows the Trump administration’s unusual mass recall of career diplomats, a move that rattled U.S. embassies worldwide and signaled the White House impatience with the slow, methodical pace of traditional diplomacy.

McNamara’s mandate appears blunt: recalibrate a relationship the administration views as fundamentally lopsided. While security cooperation has expanded in response to shared concerns over China’s maritime pressure in the South China Sea, trade has become the gravitational center of U.S.-Vietnam relations — and it is pulling both sides toward confrontation even as they speak of partnership.

At her December confirmation hearing, McNamara adopted a notably hard line. She told the Senate Foreign Relations Committee that the trade relationship is “imbalanced” and pledged to press for “equitable market access” for U.S. goods and services.

The phrasing echoed the administration’s “America First” doctrine, which treats tariffs not as economic distortions, but as instruments of leverage — diplomatic tools by other means.

“In my view, this rhetoric reflects McNamara’s political calculations and a sober recognition that she had better adapt to the administration she is being nominated to serve in order to succeed in her post,” said Hunter Marston, a foreign policy analyst at the Center For Strategic &International Studies Southeast Asia Program.

Marston said he believes this single-minded attention to the trade dispute risks eroding trust upending the extraordinary progress in bilateral relations which brought the United States and Vietnam to the level of a Comprehensive Strategic Partnership under the Biden administration.

That philosophy is already in motion. Since August, most Vietnamese exports have faced a 20% tariff, with a 40% duty imposed on goods deemed to be transshipped from third countries such as China.

U.S. officials describe these measures as necessary to prevent Vietnam from becoming a backdoor for Chinese manufacturing, but in Hanoi, they are widely seen as collective punishment that risks undermining two decades of economic integration.

Yet, the coercive power of tariffs has, so far, produced little correction. Vietnam’s trade surplus with the United States surged to $144.2 billion between January and October 2025, at times rivaling — and even surpassing — China’s surplus in key sectors such as electronics, textiles and consumer goods.

The data suggest that U.S. demand for Vietnamese production remains stubbornly inelastic, a reflection of deeply embedded supply chains that cannot be easily rerouted.

“Vietnam and the U.S. will have to navigate the trade issue to propel the relationship forward,” said Khang Vu, a visiting scholar in the Political Science Department at Boston College.

For McNamara, the test will be whether she can translate tough rhetoric into tangible changes in market access, investment rules and industrial policy, or whether she will preside over a continuing cycle of tariffs, retaliation and rhetorical sparring that leaves the underlying imbalance largely intact.

“Jennifer Wicks is a very senior and respected official within the State Department. U.S. tariff policies have been central to the U.S.-Vietnam relations since President Trump announced tariffs last April, so [she] will likely continue efforts to complete a U.S.-Vietnam trade agreement,” said Ambassador Brian McFeeters, president & CEO of the US-ASEAN Business Council.

At the core of the dispute lies Vietnam’s designation as a “non-market economy” by the U.S. Department of Commerce. That label allows Washington to calculate anti-dumping duties using surrogate prices from third countries — often higher-cost economies, such as Bangladesh or India — that inflates the “fair value” of Vietnamese shrimp, furniture and steel in the American market.

Hanoi has long argued that the classification is outdated and politically motivated. In September 2023, Vietnam formally requested a review of its status, pointing to reforms in pricing, competition policy and state enterprise governance.

But in August 2024, Commerce reaffirmed the non-market economy designation, citing continued “significant government involvement” in the economy despite acknowledging “substantive reforms.”

McNamara steps into an escalating legal and diplomatic standoff. While Hanoi has floated concessions on U.S. autos, medical devices and farm goods, Washington has made clear that limited tariff adjustments are not enough. Commerce Secretary Howard Lutnick has called for broader structural reforms that would steer Vietnam toward a more market-driven system – a demand that challenges the core of its state-led economic model.

For Vietnam, shedding the non-market ecomony label is a matter of prestige and a multibillion-dollar economic imperative.

In practical terms, U.S. officials are expected to press Hanoi on several politically sensitive fronts. Currency policy is emerging as another point of tension. The officials question Vietnam’s management of the dong, citing limited convertibility and opaque reserve practices they say bolster export competitiveness.

Labor policy presents another fault line. A key metric for market economy status is whether wages are determined by free bargaining between independent unions and employers.

While Vietnam has introduced a revised Labor Code that allows more space for worker representation, U.S. officials question whether unions are truly independent from the ruling Communist Party. McNamara will almost certainly raise these concerns, even as Hanoi insists its model is evolving.

Equally contentious is the role of state-owned enterprises, which dominate sectors such as energy, telecommunications and transportation. Washington is likely to demand a faster pace of “equitization” — Vietnam’s term for partial privatization — along with tighter limits on state-backed financing.

U.S. negotiators also argue that government controls over land and energy prices distort production costs, giving Vietnamese manufacturers an unfair advantage. Addressing this would require Hanoi to relinquish a degree of control over core economic inputs — a politically fraught move that could unsettle domestic constituencies and state-linked elites.

Aware of the stakes, Vietnam appears to be preparing its own strategy: concessions rather than confrontation.

Diplomats in Hanoi say officials are preparing limited market-opening steps to ease pressure from Washington without reshaping Vietnam’s state-led economy. The measures could include selective tariff cuts and increased purchases of U.S. goods, offering visible trade concessions, while leaving core political and economic structures intact.

Vietnam is weighing major purchases of U.S. liquefied natural gas as it expands energy capacity to fuel industrial growth. Long-term LNG deals worth billions could help narrow the trade gap with Washington, while tying Hanoi more closely to U.S. energy supplies.

Agriculture could become another friction point. Vietnam enforces strict health standards on U.S. pork, poultry and grain imports, citing food safety concerns. McNamara is expected to press for science-based regulatory changes to expand access for American farm exports – a sensitive issue in a country where small farmers wield political influence.

Aviation is emerging as a highly visible battleground. Vietnam Airlines, VietJet and Bamboo Airways are all in the midst of fleet expansions. U.S. officials are keen for these multibillion-dollar orders to go to Boeing rather than European manufacturers, viewing aircraft sales as a concrete way to offset the trade deficit and demonstrate goodwill.

If Vietnam resists deeper reforms, it risks entrenching itself under punitive U.S. trade barriers that could discourage investment and slow export growth. If it moves too far, too fast, it could destabilize its own state-led development model and alienate domestic power centers that benefit from the current system.

For Hanoi, the challenge is even more delicate: proving it can behave like a market economy while remaining a one-party state — a contradiction that Washington is now probing with far sharper tools than before.

How McNamara navigates this dilemma will not only shape her legacy in Hanoi, but could redefine the future trajectory of U.S.-Vietnam relations in an era in which geopolitics and geo-economics are increasingly inseparable.

Published on
04/02/2026 – 10:19 GMT+1

European Commission President Ursula von der Leyen will fly to Australia later this month in a bid to seal a long-delayed trade agreement, sources familiar with the matter told Euronews.

Concluding the deal would mark another trade win for the Commission, following recent deals with Latin America’s Mercosur bloc and India, as geopolitical tensions intensify with the US and China.

One source said von der Leyen could head to Canberra shortly after the Munich Security Conference concludes on 15 February.

Whether the trip goes ahead will depend on progress in negotiations led by EU Trade Commissioner Maroš Šefčovič, who is due to meet Australian Trade Minister Don Farrell in Brussels next week.

“As always, progress in the sensitive phase of negotiations will depend on substance,” Commission deputy chief spokesperson Olof Gill told Euronews.

Talks on an EU-Australia free-trade agreement collapsed in 2023 after Canberra accused Brussels of failing to offer sufficient market access for beef, sheep, dairy and sugar.

Agriculture remains a perennial flashpoint in EU trade negotiations. The Mercosur agreement has already met furious opposition from European farmers, who fear unfair competition from increased imports coming from Latin America.

Australia, however, is viewed in Brussels as a strategic and like-minded partner as the EU seeks to diversify its trade relationships, expand access to global markets and reduce exposure to a closing US market and China’s increasingly aggressive trade policy.

James Harden is headed to the Cleveland Cavaliers, with the Clippers agreeing to send the 11-time All-Star back to the Eastern Conference during his highest-scoring season in six years, a person with knowledge of the agreement said Tuesday night.

The Cavaliers are giving up point guard Darius Garland and a second-round pick, said the person, who spoke to the Associated Press on condition of anonymity because the trade has not yet been approved by the NBA.

That approval could come by Wednesday, when the Cavaliers and Clippers face off at Intuit Dome.

Harden is averaging 25.4 points this season, his most since averaging 34.3 points in 2019-20. He’s been a huge part of the Clippers’ resurgence back into playoff — or, at least, play-in — contention after a dismal 6-21 start.

“He means a lot to our team and we’ve seen it the last three years,” Clippers coach Tyronn Lue said Monday night when stories began breaking indicating such a move was close. “Who wouldn’t want to have James Harden?”

Cleveland will become Harden’s sixth team. He played for Oklahoma City, then Houston, then Brooklyn, then Philadelphia and, since 2023, the Clippers.

For the Cavaliers, it seems to be a move for right now — pairing the 36-year-old Harden with another star guard in Donovan Mitchell. For the Clippers, it seems to be a move with an eye on the future — the 26-year-old Garland is a two-time All-Star, averaging 18 points and 6.9 assists this season for Cleveland.

Harden opted out of the final year of his contract last summer with the Clippers to sign a new deal that would have been worth $81.5 million for this season and the 2026-27 campaign. Next year is at his option, which basically meant he was on a one-year contract.

He got that deal after averaging 22.8 points, 5.8 rebounds and 8.7 assists while returning to the All-NBA team for the first time since 2019-20.

James Harden has played a key role in helping the Clippers become one of the NBA’s hottest teams over the last six weeks despite a disastrous start to their season. He may not be around, however, to see how the rest of the season unfolds.

Multiple media outlets are reporting that Harden and the Clippers working to find a suitable deal that would send him to another team by Thursday’s NBA trade deadline.

Many of those reports mention a possible trade with the Cleveland Cavaliers, swapping Harden in exchange for guard Darius Garland. Chris Mannix of Sports Illustrated described discussions between the two teams as “advanced.”

The Clippers play the Cavaliers in Cleveland on Wednesday.

Harden, 36, had 25 points and nine assists in 34 minutes during the Clippers’ 122-109 loss to the Denver Nuggets on Friday but has not played in the team’s two games since. The Clippers have attributed Harden’s absence to personal reasons.

The trade reports involving Harden broke Monday during the Clippers’ 128-113 loss to the Philadelphia 76ers at Crypto.com Arena. Coach Tyronn Lue was asked about the matter during his news conference after the game.

“I can’t comment on rumors,” Lue said. “Sorry.”

After the game, Clippers forward Kawhi Leonard told Joey Linn of Linn Sports media he was surprised by the Harden reports.

“I respect his decision or whoever’s decision it is, and that’s it,” Leonard said. “I mean, he’s still gonna be my boy and, you know, I trust the front office.”

Clippers forward John Collins called the news “shocking.” Asked by Linn if he would be disappointed to see Harden leave at this point in the season, Collins answered, “Hell yeah.”

Brett Siegel of ClutchPoints reports that Harden initiated the trade talks and “the Clippers were stunned to find out about him wanting out.” The two sides have been discussing a possible parting for weeks, according to Siegel.

This past offseason, Harden signed a two-year, $81-million deal to remain with the Clippers. The second year was said to be a player option and is partially guaranteed. Harden has the power to veto any trade, according to ESPN.

Harden is an 11-time All-Star who was named the league MVP in 2018. He has played for five teams, including the Clippers since 2023, and is averaging 25.4 points, 8.1 assists and 4.8 rebounds in his 17th NBA season.

Garland is a 26-year-old two-time All Star who has averaged 18.8 points, 2.6 rebounds and 6.7 assists during his seven NBA seasons. His contract expires in the summer of 2028. He has not played since Jan. 14 because of a Grade 1 sprain of his right big toe.

The Clippers were 6-21 after a 122-101 loss to Oklahoma City on Dec. 18. Since then, however, they have won 17 of 22 games to pull into a potential play-in spot (ninth place) in the Western Conference playoff standings.

Lue was asked Monday if Harden was someone he would like to continue to have on the team for a possible playoff run and beyond.

“Who wouldn’t want to have James Harden?” Lue said.

As the Trump administration ploughs forward with its incendiary policies, European trust in the US government is fading.

Amid tariff threats and pledges to conquer Greenland, citizens and politicians in Europe are unsettled — questioning a long-standing alliance.

Marie-Agnes Strack-Zimmermann (FDP), chair of the Defence Committee in the EU Parliament, claims to have an answer that is “worth its weight in gold”. In this case, the expression is more literal than figurative.

Around 1,236 tonnes of German gold, worth more than €100bn, are sitting in vaults in the US. Strack-Zimmermann has now announced that, in view of Trump’s recent political manoeuvres, it’s no longer justifiable to leave them be. This has reignited a fierce debate: to retrieve or not to retrieve?

The demand to bring gold back to Germany has been around for a long time, with some surveys suggesting that many citizens are in favour of the move. Similar debates are happening in Italy, which has the third-largest gold reserves in the world after the US and Germany.

Why does Germany hold gold in the US?

Germany’s gold reserves amount to around 3,350 tonnes. About 36.6% of this is in the US, a legacy of the Bretton Woods system of fixed exchange rates after World War II.

“At the time, all exchange rates were tied to the dollar, and the dollar was tied to gold,” Dr. Demary, senior economist for Monetary Policy and Financial Markets at the German Economic Institute (IW), told Euronews.

“Germany had large export surpluses with the US, so we accumulated a lot of dollars. To keep exchange rates stable, we exchanged those dollars for gold. That’s how these reserves were built up.”

During the Cold War, it was also practical to store gold abroad, as the US was considered a safe place in case of conflict with the Soviet Union. Over the years, some gold has been repatriated. By 2017, 300 tonnes were brought back from New York, 380 tonnes from Paris, and 900 tonnes from London.

This was part of a Bundesbank plan, unveiled in 2013, to store half of Germany’s gold reserves in Germany from 2020 onwards.

Bringing in the gold treasure: What are the risks?

Strack-Zimmermann and other politicians and economists cite Trump’s unpredictable trade and foreign policy as the reason for moving the gold out of the US.

“Of course, there is always some risk when you keep assets abroad,” said Demary. For example, there is a storage risk if a break-in occurs. But this risk exists whether the gold is stored abroad or in Germany.

“Another possible scenario is that the US government, due to tight currency reserves, could prevent the gold from being transferred,” he explained.

To ensure the safety of gold holdings, the Bundesbank has had to make frequent trips to New York in the past to take an inventory.

“It makes sense to leave this gold in the US in case we have a banking crisis here and need to obtain dollars,” said Demary.

Retrieving the gold could not only be logistically complex, but also risky.

“The gold would have to be transported in armoured vehicles onto a ship, which would also need to be guarded, and then brought back to Frankfurt under security,” added Demary. “There could be robberies, the ship could sink, or the cargo could be seized.”

Is Strack-Zimmermann’s demand pure populism?

Is Strack-Zimmermann’s demand pure symbolic politics? “I think so,” said the economist. “Perhaps it was a political move in response to the tariff threats, saying, ‘We’re bringing our gold back now.’”

According to the economist, it is also possible that Strack-Zimmermann estimated the magnitude of this gold value to be somewhat greater than it really is. In any case, the gold is currently safe in New York, even if Trump wanted to use it to exert pressure on Germany.

“The Federal Reserve is actually independent in its monetary policy. The US government cannot simply intervene. They would have to change laws first,” explained Dr Demary.

Even in the absolute worst case, if the US refused to release the gold, there would still be the option to go to court and enforce its return or receive compensation in dollars, said Demary.

“You have to weigh up the pros and cons and I would say the advantages of leaving the gold in the US outweigh the disadvantages,” he told Euronews.

NEW YORK — Sunday marked the one-year anniversary of the Lakers’ acquisition of Luka Doncic.

Coach JJ Redick acknowledged he felt “stressed” knowing about the trade before the Lakers played the New York Knicks at Madison Square Garden that night in 2025.

While his stress may have faded, Redick couldn’t have liked what he saw from the Lakers on the same floor one year later.

Despite a strong effort from Doncic, the Lakers struggled with their shooting and lost 112-100 to the Knicks on Sunday night.

After Landry Shamet made his second straight three-pointer to give the Knicks a 112-99 lead with 59.3 seconds left, Redick pulled his starters. The Lakers led 56-52 at halftime but were outscored 38-26 in the third quarter after New York went on a 15-5 run to take a 90-82 lead into the fourth quarter.

Doncic finished with 30 points, 15 rebounds and eight assists, but it wasn’t enough to overcome the Lakers’ 45% shooting from the field and 29% shooting from three-point range.

LeBron James, named an NBA All-Star for the 22nd time before the game, had 22 points, six assists and five rebounds, but he fell to 23-9 in regular-season games at Madison Square Garden, and the Lakers slipped to 4-3 on their season-high eight-game trip, which ends Tuesday in Brooklyn.

Deandre Ayton had 13 points and five rebounds, and Marcus Smart had seven points and three assists.

OG Anunoby had 25 points, eight rebounds and three assists to lead the Knicks (31-18) who have won six straight. Shamet scored 23 points and Josh Hart had 20 points and four rebounds. Jalen Brunson finished with 12 points and season-high 13 assists.

Modi’s government presents annual budget, focusing on sustaining growth despite volatile financial markets and trade uncertainty.

Indian Prime Minister Narendra Modi’s government has unveiled its annual budget, aiming for steady growth in an uncertain global economy rocked by recent tariff wars.

Finance Minister Nirmala Sitharaman presented the budget for the 2026-2027 financial year in Parliament on Sunday, prioritising infrastructure and domestic manufacturing, with a total expenditure estimated at $583bn.

India’s economy has so far weathered punitive tariffs of 50 percent imposed by United States President Donald Trump over New Delhi’s imports of Russian oil. The government has sought to offset the impact of those duties by striking deals, such as its trade agreement with the European Union.

Despite the past year’s challenges, the Indian economy has remained one of the world’s fastest growing.

The budget for the new financial year, which starts on April 1, projects gross domestic product (GDP) growth in the range of 6.8 to 7.2 percent, according to the government’s annual Economic Survey presented in Parliament. It is a shade softer than this year’s projected 7.4 percent but still outpaces estimates by global institutions such as the World Bank.

To keep growth strong, the government said it will spend 12.2 trillion rupees ($133bn) on infrastructure in the new fiscal year, compared with 11.2 trillion rupees ($122bn) last year. It will also aim to boost manufacturing in seven strategic sectors, including pharmaceuticals, semiconductors, rare-earth magnets, chemicals, capital goods, textiles and sports goods while stepping up investments in niche industries like artificial intelligence.

Despite plans to prop up growth with state spending, the government is aiming to bring down the federal government debt-to-GDP ratio from 56.1 percent to 55.6 percent in the next financial year and the fiscal deficit from its current projected level of 4.4 percent of GDP to 4.3 percent.

Sitharaman offered no populist giveaways, saying New Delhi would focus on building resilience at home while strengthening its position in global supply chains, marking a departure from last year’s budget, which wooed the salaried middle class with steep tax cuts.

Before the budget presentation, Modi on Thursday said the nation was “moving away from long-term problems to tread the path of long-term solutions”.

“Long term solutions provide predictability that fosters trust in the world,” he said.

Modi’s government has struggled to raise manufacturing from its current level of contributing under 20 percent of India’s GDP to 25 percent to generate jobs for the millions of people entering the nation’s workforce each year.

It has also seen a sharp decline in the value of the rupee, which has recently weakened to all-time lows after foreign investors sold a record amount of Indian equities. Those sales have added up to $22bn since January last year.

“Overall, this is a budget without fireworks – not a big positive, not a big negative,” Aishvarya Dadheech, founder and chief investment officer at Mumbai-based Fident Asset Management, told the Reuters news agency.

Danish company will replace Hong Kong-based firm, CK Hutchison, after Trump claimed strategic waterway was controlled by China.

Danish firm Maersk will temporarily operate two ports on the Panama Canal after a court ruled that contracts given to a Hong Kong firm were unconstitutional.

The Panama Maritime Authority (AMP) announced the changes on Friday, a day after the Central American country’s Supreme Court invalidated port contracts held by Hong Kong-based firm CK Hutchison.

The court ruling followed repeated threats from United States President Donald Trump that his country would seek to take over the waterway he claimed was effectively being controlled by China.

According to the court ruling that annulled the deal, CK Hutchison’s contract to operate the ports had “disproportionate bias” towards the Hong Kong-based company.

On Friday, the AMP said port operator APM Terminals, part of the Maersk Group, would take over as the “temporary administrator” of the Balboa and Cristobal ports on either end of the canal.

Maersk takes over from the Panama Ports Company (PPC) – a subsidiary of CK Hutchison Holdings – which has managed the ports since 1997 under a concession renewed in 2021 for 25 years.

The canal, an artificial waterway, handles about 40 percent of US container shipping traffic and 5 percent of world trade. It has been controlled by Panama since 1999, when the US, which funded the building of the canal between 1904 and 1914, ceded control.

Washington on Friday welcomed the decision, but China’s Foreign Ministry spokesman Guo Jiakun said Beijing “will take all measures necessary to firmly protect the legitimate and lawful rights and interests of Chinese companies”.

For its part, PPC said the ruling “lacks legal basis and endangers … the welfare and stability of thousands of Panamanian families” who depend on its operations.

Tens of thousands of workers dug the 82km- (51-mile-) passageway that became the Panama Canal, allowing ships to pass from the Pacific Ocean to the Atlantic without having to travel around the northernmost or southernmost ends of the Americas.

Panama has always denied Chinese control of the canal, which is used mainly by the US and China.