Good morning.
China and the US have agreed a 90-day pause to the deepening trade war that has threatened to upend the global economy, with reciprocal tariffs to be lowered by 115%.
Speaking to the media after talks in Geneva, the US treasury secretary, Scott Bessent, said both sides had shown “great respect” in the negotiations.
Bessent said: “The consensus from both delegations this weekend was neither side wants a decoupling.”
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What does the 90-day pause apply to? Donald Trump’s tariffs ultimately escalated to 125% on Chinese imports, with Beijing responding with equivalent measures. With the new deduction, Chinese duties on US goods will be lowered to 10%, while the US tax on Chinese goods will be lowered to 30% (as the US tariffs include a 20% rate imposed by Trump before the latest trade war).
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Was there any immediate reaction? China’s yuan jumped to a six-month high on the signal that the trade war would be paused. Up to 16m jobs were at risk in China, according to some estimates, while the US faced rising inflation and empty shelves thanks to dizzying tariffs on the biggest supplier of US goods.
Zelenskyy challenges Putin to meet in person for peace talks
Volodymyr Zelenskyy has challenged Vladimir Putin to meet in person for peace talks in Istanbul on Thursday, in a dramatic gambit after a weekend of diplomatic flurry.
He said in a statement: “I will be waiting for Putin in Türkiye on Thursday. Personally. I hope that this time the Russians will not look for excuses.”
His comments came after Putin rejected a demand from Ukraine and European allies to sign up to a 30-day ceasefire, but said Russia was ready for direct negotiations with Ukraine. Putin said delegations from the two countries should meet on Thursday in Turkey.
Although European leaders insisted there should be no negotiations until Putin agrees to a ceasefire, Donald Trump put pressure on Zelenskyy to agree “immediately” to negotiations this week, in a post on Truth Social. Shortly afterwards Zelenskyy went public with his surprise offer.
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When was the last time the two leaders spoke? They have not spoken directly since Russia launched its full-scale invasion of Ukraine, and there have been no publicly known talks between Moscow and Kyiv since March 2022, shortly after the war began.
Hamas says it will release last living American hostage in Gaza
Hamas announced yesterday that it would release the last living American hostage in Gaza, Edan Alexander, an Israeli-American soldier who was kidnapped on 7 October 2023.
Donald Trump confirmed the news in a social media post, writing that Alexander, 21, “is coming home to his family”.
“This was a step taken in good faith towards the United States and the efforts of the mediators – Qatar and Egypt – to put an end to this very brutal war and return ALL living hostages and remains to their loved ones,” the US president added.
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What else is happening in the region? An Israeli strike on a school-turned-shelter in the Gaza Strip killed at least 16 people early this morning, mostly women and children, according to local health officials.
In other news …
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Trump administration homeland security officials were responsible for starting the confrontation on Friday at a New Jersey immigration jail that led to the arrest of Newark’s mayor, Democratic representatives said.
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The US senator Amy Klobuchar says she hopes her party does not reflexively rule out running a woman for the White House after Kamala Harris lost November’s presidential election, arguing it is not the “lesson to learn”.
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Elizabeth Holmes’s romantic partner and the father of her children has reportedly raised millions of dollars to start up a blood-testing company that is strikingly similar to the one that landed the Theranos founder in federal prison.
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India and Pakistan have both claimed victory after a ceasefire was declared over the weekend, which brought the two nuclear nations back from the brink of war, as Kashmir residents beg for long-term solutions over disputed territory.
Weight-loss jabs could almost halve the risk of obesity-related cancers, a landmark study suggests. Cancer experts said the findings were “transformational” and could herald a “whole new era of preventive cancer medicine”. Obesity is associated with 13 different cancers. While losing weight reduces that risk, scientists have calculated that weight-loss injections have a bigger protective effect over and above shedding the kilos.
Don’t miss this: A bicycle, pencil sharpener, 300lb of raw meat – US presidential gifts and the rules governing them
Reports that Donald Trump’s administration is preparing to accept a luxury plane from the Qatari royal family have set off a storm of criticism, as ethics experts say such a gift would violate rules within the constitution that seek to guard against bribery and corruption. Jonathan Yerushalmy looks back at the gifts previous presidents have received and the rules around their acceptance.
Climate check: Climate crisis threatens the banana, the world’s most popular fruit, research shows
The climate crisis is threatening the future of the world’s most popular fruit, as almost two-thirds of banana-growing areas in Latin America and the Caribbean may no longer be suitable for growing the fruit by 2080, research has found. Rising temperatures, extreme weather and climate-related pests are pummeling banana-growing countries such as Guatemala, Costa Rica and Colombia.
Last Thing: Meet the TV and film stars who didn’t even act
What’s it like for an actor to star in a humongously successful show – as a photograph? How does it feel to be a big part of a huge production, but barely even act? Whether you’re the employee of the month in the background of a sitcom, or a dead soldier in an Oscar-winning drama, it can have a variety of unforeseen consequences.
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