trade

Trump hikes US global tariff rate to 15%

BY MICHAEL MATHES

  • The US leader had announced an initial 10 percent duty in the immediate aftermath of the Supreme Court ruling.
  • President Donald Trump raised the global duty on imports into the United States to 15 percent on Saturday, doubling down on his promise to maintain his aggressive tariff policy a day after the Supreme Court ruled much of it illegal.
  • The US leader had announced an initial 10 percent duty in the immediate aftermath of the Supreme Court ruling.
President Donald Trump raised the global duty on imports into the United States to 15 percent on Saturday, doubling down on his promise to maintain his aggressive tariff policy a day after the Supreme Court ruled much of it illegal.
Trump said on his Truth Social platform that after a thorough review of Friday's "extraordinarily anti-American decision" by the court to rein in his tariff program, the administration was hiking the import levies "to the fully allowed, and legally tested, 15% level."
The US leader had announced an initial 10 percent duty in the immediate aftermath of the Supreme Court ruling.
And Trump added that over the next few months, his administration would seek further alternative ways to impose "legally permissible" tariffs.
Saturday's announcement is the latest in a careening process that has seen a multitude of tariff levels for countries sending goods into the United States set and then altered or revoked by Trump's team over the past year. 
It also appears on its face to be an attempt to circumvent the Supreme Court's latest ruling, which offered perhaps the firmest rebuke yet of the Republican leader's sweeping and often arbitrary duties, his signature international trade policy.
The new duty by law is only temporary -- allowable for 150 days. According to a White House fact sheet, exemptions remain for sectors that are under separate probes, including pharma, and goods entering the US under the US-Mexico-Canada agreement.
Trump spent much of the past year imposing various rates to cajole and punish countries, both friend and foe.
On Friday, the White House said US trading partners that reached separate tariff deals with Trump's administration would also face the new global tariff. 
The conservative-majority high court ruled six to three on Friday that a 1977 law Trump has relied on to slap sudden rates on individual countries, upending global trade, "does not authorize the President to impose tariffs."
Trump, who had nominated two of the justices who repudiated him, responded furiously, alleging without evidence that the court was influenced by foreign interests.
"I'm ashamed of certain members of the court, absolutely ashamed, for not having the courage to do what's right for our country," Trump told reporters.
mlm/sst

diplomacy

Brazil, India ink critical minerals deal as leaders meet

BY ABHAYA SRIVASTAVA

  • "President Lula gave a very detailed presentation on Brazil's substantial critical minerals and rare earth reserves," P. Kumaran told reporters at a media briefing.
  • India and Brazil agreed to boost cooperation on critical minerals and rare earths on Saturday, Prime Minister Narendra Modi said after talks in New Delhi with Brazilian President Luiz Inacio Lula da Silva.
  • "President Lula gave a very detailed presentation on Brazil's substantial critical minerals and rare earth reserves," P. Kumaran told reporters at a media briefing.
India and Brazil agreed to boost cooperation on critical minerals and rare earths on Saturday, Prime Minister Narendra Modi said after talks in New Delhi with Brazilian President Luiz Inacio Lula da Silva.
"The agreement on critical minerals and rare earths is a major step towards building resilient supply chains," Modi said.
Brazil has the world's second-largest reserves of critical minerals, which are used in everything from electric vehicles, solar panels and smartphones to jet engines and guided missiles.
India, seeking to cut its dependence on top exporter China, has been expanding domestic production and recycling while scouting for new suppliers.
"Increasing investments and cooperation in matters of renewable energies and critical minerals is at the core of the pioneering agreement that we have signed today," Lula said.
The details of the deal were not immediately available but a senior Indian foreign ministry official said official discussions were underway.
"President Lula gave a very detailed presentation on Brazil's substantial critical minerals and rare earth reserves," P. Kumaran told reporters at a media briefing.
"He said only 30 percent of their reserves have been explored and that there is substantial scope for exploration, processing minerals and also using them."

'Reflection of trust'

Nine other agreements and memoranda of understanding were finalised on Saturday, covering digital cooperation, health, entrepreneurship and other fields.
"Brazil is India's largest trade partner in Latin America. We are committed to taking our bilateral trade beyond $20 billion in the coming five years," Modi said.
"Our trade is not just a figure, but a reflection of trust."
Lula, who arrived in New Delhi on Wednesday for a summit on artificial intelligence, is accompanied by a delegation of more than a dozen ministers as well as business leaders.
On Saturday, he was given a ceremonial welcome and paid tribute to India's independence hero Mahatma Gandhi, before holding the meeting with Modi.
With China holding a near-monopoly on rare earths production, some countries are seeking alternative sources.
Rishabh Jain, an expert with the Delhi-based Council on Energy, Environment and Water think tank, said India's growing cooperation with Brazil on critical minerals complements recent supply chain engagements with the United States, France and the European Union.
While these partnerships grant India access to advanced technologies, finance and high-end processing capabilities, "Global South alliances are critical for securing diversified, on-ground resource access and shaping emerging rules of global trade", Jain told AFP.

'New momentum'

India, the world's most populous nation, is the 10th largest market for Brazilian exports, with bilateral trade topping $15 billion in 2025.
Key Brazilian exports to India include sugar, crude oil, vegetable oils, cotton and iron ore.
Demand for iron ore has been driven by rapid infrastructure expansion and industrial growth in India, which is on track to become the world's fourth largest economy.
Modi said that "our cooperation in the defence sector is also continuously growing," hailing a "win-win partnership".
"When India and Brazil work together, the voice of Global South becomes stronger and more confident."
Speaking at a business forum later in the day, Lula said Brazil was ready to cooperate in one of the world's largest global defence markets.
"We do not want only to sell," he said. "We want to buy, invest, and consolidate our presence in India, with technology transfer and training of personnel."
Brazilian firms have been expanding in the South Asian nation, with Embraer and Adani Group announcing plans last month to build aircraft in India.
On Sunday, Lula will travel on to South Korea for meetings with President Lee Jae Myung and to attend a business forum.
asv-abh/ceg

Global Edition

Global summit calls for 'secure, trustworthy and robust AI'

BY KATIE FORSTER

  • The UN General Assembly has confirmed 40 members for a group called the Independent International Scientific Panel on Artificial Intelligence.
  • Dozens of nations including the United States and China called for "secure, trustworthy and robust" artificial intelligence, in a summit declaration on Saturday criticised for being too generic to protect the public.
  • The UN General Assembly has confirmed 40 members for a group called the Independent International Scientific Panel on Artificial Intelligence.
Dozens of nations including the United States and China called for "secure, trustworthy and robust" artificial intelligence, in a summit declaration on Saturday criticised for being too generic to protect the public.
The statement signed by 86 countries did not include concrete commitments to regulate the fast-developing technology, instead highlighting several voluntary, non-binding initiatives.
"AI's promise is best realised only when its benefits are shared by humanity," said the statement, released after the five-day AI Impact Summit.
It called the advent of generative AI "an inflection point in the trajectory of technological evolution".
"Advancing secure, trustworthy and robust AI is foundational to building trust and maximising societal and economic benefits," it said.
The summit -- attended by tens of thousands including top tech CEOs -- was the fourth annual global meeting to discuss the promises and pitfalls of AI, and the first hosted by a developing country.
Hot topics discussed included AI's potential societal benefits, such as drug discovery and translation tools, but also the threat of job losses, online abuse and the heavy power consumption of data centres.
Analysts had said earlier that the summit's broad focus, and vague promises made at the previous meetings in France, South Korea and Britain, would make strong pledges or immediate action unlikely.

US signs on

The United States, home to industry-leading companies such as Google and ChatGPT maker OpenAI, did not sign last year's summit statement, warning that regulation could be a drag on innovation.
"We totally reject global governance of AI," US delegation head Michael Kratsios said at the summit on Friday.
The United States signed a bilateral declaration on AI with India on Friday, pledging to "pursue a global approach to AI that is unapologetically friendly to entrepreneurship and innovation".
But it also put its name to the main statement, the release of which was originally expected on Friday but was delayed by one day to maximise the number of signatories, India's government said.
Amba Kak, co-executive director of the AI Now Institute, criticised the lack of a meaningful declaration, saying it was just "another round of generic voluntary promises". 
"The fact that this declaration drew such wide endorsement, especially from the US, which held out in Paris, tells you what kind of agenda it is: one that is AI-industry approved, not one that meaningfully protects the public," she told AFP.
Saturday's summit declaration struck a cautious tone on AI safety risks, from misinformation and surveillance to fears of the creation of devastating new pathogens.
"Deepening our understanding of the potential security aspects remains important," it said.
"We recognize the importance of security in AI systems, industry-led voluntary measures, and the adoption of technical solutions, and appropriate policy frameworks that enable innovation."
On jobs, it emphasised reskilling initiatives to "support participants in preparation for a future AI driven economy".
And "we underscore the importance of developing energy-efficient AI systems" given the technology's growing demands on natural resources, it said.

'Unacceptable risk'

Computing expert and AI safety campaigner Stuart Russell told AFP that Saturday's commitments were "not completely inconsequential".
"The most important thing is that there are any commitments at all," he said.
Countries should "build on these voluntary agreements to develop binding legal commitments to protect their peoples so that AI development and deployment can proceed without imposing unacceptable risks", Russell said.
Some visitors had complained of poor organisation, including chaotic entry and exit points, at the vast summit and expo site in Delhi.
The event was also the source of several viral moments, including the awkward refusal of rival US tech CEOs -- OpenAI's Sam Altman and Dario Amodei of Anthropic -- to hold hands on stage.
The next AI summit will take place in Geneva in 2027. In the meantime, a UN panel on AI will start work towards "science-led governance", the global body's chief Antonio Guterres said Friday.
The UN General Assembly has confirmed 40 members for a group called the Independent International Scientific Panel on Artificial Intelligence.
India has used the summit to push its ambition to catch up with the United States and China in the AI field, including through large-scale data centre construction powered by new nuclear plants.
Delhi expects more than $200 billion in investments over the next two years, and US tech giants unveiled a raft of new deals and infrastructure projects in the country during the summit.
kaf/abh/pbt

tariff

Trump imposes 10% global tariff after stinging court rebuke

BY BEIYI SEOW AND SHAUN TANDON

  • Earlier Friday, the conservative-majority high court ruled six to three that a 1977 law Trump has relied on to slap sudden rates on individual countries, upending global trade, "does not authorize the President to impose tariffs."
  • President Donald Trump imposed Friday an additional 10 percent tariff on imports into the United States after the Supreme Court struck down many of his sweeping and often arbitrary duties, delivering a stinging rebuke on his signature economic policy.
  • Earlier Friday, the conservative-majority high court ruled six to three that a 1977 law Trump has relied on to slap sudden rates on individual countries, upending global trade, "does not authorize the President to impose tariffs."
President Donald Trump imposed Friday an additional 10 percent tariff on imports into the United States after the Supreme Court struck down many of his sweeping and often arbitrary duties, delivering a stinging rebuke on his signature economic policy.
Trump signed the tariff order in the Oval Office -- saying on social media it was "effective almost immediately" -- after spending the past year imposing various rates to cajole and punish countries, both friend and foe.
The new duty is slated to take effect February 24 for 150 days, with exemptions remaining for sectors that are under separate probes, including pharma, and goods entering the US under the US-Mexico-Canada agreement, according to a White House factsheet.
US trading partners that reached tariff deals with Trump's administration will now also face a 10 percent duty, despite higher levels they may have agreed on previously, the White House said.
But a White House official told AFP that the Trump administration would seek ways to "implement more appropriate or pre-negotiated tariff rates" down the line.
Earlier Friday, the conservative-majority high court ruled six to three that a 1977 law Trump has relied on to slap sudden rates on individual countries, upending global trade, "does not authorize the President to impose tariffs."
Trump, who had nominated two of the justices who repudiated him, responded furiously, alleging without evidence that the court was influenced by foreign interests.
"I'm ashamed of certain members of the court, absolutely ashamed, for not having the courage to do what's right for our country," Trump told reporters.
"In order to protect our country, a president can actually charge more tariffs than I was charging in the past," Trump said, insisting that the ruling left him "more powerful."
Treasury Secretary Scott Bessent, addressing the Economic Club of Dallas, said the alternative method "will result in virtually unchanged tariff revenue in 2026."

Major setback

The ruling did not impact sector-specific duties Trump separately imposed on steel, aluminum and various other goods. Government probes still underway could lead to additional sectoral tariffs.
Still, it marked Trump's biggest defeat at the Supreme Court since returning to the White House 13 months ago. The court has generally expanded his power. 
The justices ruled Friday that "had Congress intended to convey the distinct and extraordinary power to impose tariffs" through the 1977 law, the International Emergency Economic Powers Act, "it would have done so expressly, as it consistently has in other tariff statutes."
"IEEPA contains no reference to tariffs or duties," Chief Justice John Roberts said in his opinion.
Wall Street saw share prices rise modestly after the decision, which had been expected.
Business groups largely cheered the ruling, with the National Retail Federation saying this "provides much-needed certainty" for companies.

Doubts on refunds

The Trump administration in court arguments said companies would receive refunds if the tariffs were deemed unlawful. But the ruling did not address the issue. 
Trump said he expected years of litigation on whether to provide refunds. Justice Brett Kavanaugh, the one Trump nominee to side with him, noted the refund process could be a "mess."
The University of Pennsylvania's Penn Wharton Budget Model projected that the court decision on tariffs would generate up to $175 billion in refunds.
California Governor Gavin Newsom, who is widely expected to seek the Democratic presidential nomination in 2028, said Americans deserved refunds from the "illegal cash grab."
"Every dollar unlawfully taken must be refunded immediately — with interest. Cough up!"
But Elizabeth Warren, the top Democrat on the Senate Banking Committee, cautioned that there remained "no legal mechanism for consumers and many small businesses to recoup the money they have already paid."
The Budget Lab at Yale University estimates consumers face an average effective tariff rate of 9.1 percent with Friday's decision, down from 16.9 percent. 
The rate "remains the highest since 1946," excluding 2025, it said.
Close US trading partners including the European Union and Britain said they were studying the decision.
Canada, which has faced repeated tariff threats as Trump questioned the sovereignty of the northern neighbor, said the Supreme Court showed the levies were "unjustified," but the country braced for more turbulence.
French President Emmanuel Macron on Saturday hailed "the existence of checks and balances in democracies" after the Supreme Court's decision, adding that "a conciliatory approach" was necessary. 
"We want to continue to export and do so under the fairest rules possible and not be subject to unilateral decisions," the head of state told reporters at an agricultural trade fair in Paris.
bur-bys-sct/ksb/sla/sbk/gv

diplomacy

Brazil, India eye critical minerals deal as leaders meet

BY ABHAYA SRIVASTAVA

  • With China holding a near-monopoly on rare earths production, some countries are seeking alternative sources.
  • India's Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva were holding talks in New Delhi on Saturday, seeking to boost cooperation on critical minerals and rare earths.
  • With China holding a near-monopoly on rare earths production, some countries are seeking alternative sources.
India's Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva were holding talks in New Delhi on Saturday, seeking to boost cooperation on critical minerals and rare earths.
Brazil has the world's second-largest reserves of these elements, which are used in everything from electric vehicles, solar panels and smartphones to jet engines and guided missiles.
India, seeking to cut its dependence on top exporter China, has been expanding domestic production and recycling while scouting for new suppliers.
Lula, heading a delegation of more than a dozen ministers as well as business leaders, arrived in New Delhi on Wednesday for a global summit.
On Saturday, he was given a ceremonial welcome and paid his tributes to India's independence hero Mahatma Gandhi, before going into the meeting with Modi.
Officials have said the two leaders are expected to sign a memorandum on critical minerals and discuss efforts to increase trade links.
The world's most populous nation is already the 10th largest market for Brazilian exports, with bilateral trade topping $15 billion in 2025.
The two countries have set a trade target of $20 billion to be achieved by 2030.
With China holding a near-monopoly on rare earths production, some countries are seeking alternative sources.
Rishabh Jain, an expert with the Delhi-based Council on Energy, Environment and Water think tank, said India's growing cooperation with Brazil on critical minerals complements recent supply chain engagements with the United States, France and the European Union.
While these partnerships grant India access to advanced technologies, finance and high-end processing capabilities, "Global South alliances are critical for securing diversified, on-ground resource access and shaping emerging rules of global trade", Jain told AFP.

'New momentum'

Modi and Lula are also expected to discuss global economic headwinds and strains on multilateral trade systems after both of their countries were hit by US tariffs in 2025, prompting the two leaders to call for stronger cooperation.
Washington has since pledged to roll back duties on Indian goods under a trade deal announced earlier this month.
"Lula and Modi will have the opportunity to exchange views on... the challenges to multilateralism and international trade," said Brazilian diplomat Susan Kleebank, the secretary for Asia and the Pacific.
Brazil is India's biggest partner in Latin America.
Key Brazilian exports to India include sugar, crude oil, vegetable oils, cotton and iron ore.
Demand for iron ore has been driven by rapid infrastructure expansion and industrial growth in India, which is on track to become the world's fourth largest economy.
India's Foreign Minister Subrahmanyam Jaishankar said he was confident that Lula's talks with Modi "will impart a new momentum to our ties".
"Deeply appreciate his warm sentiments and guidance on advancing our strategic partnership," he said in a post on X on Saturday.
Brazilian firms are also expanding in the country, with Embraer and Adani Group announcing plans last month to build aircraft in India.
Lula addressed the AI Impact summit in Delhi on Thursday, calling for a multilateral and inclusive global governance framework for artificial intelligence.
He will travel on to South Korea for meetings with President Lee Jae Myung and to attend a business forum.
abh/ami

economy

Battered by Gaza war, Israel's tech sector in recovery mode

BY DELPHINE MATTHIEUSSENT

  • Until then, the ministry had primarily sourced from Israel's large defence firms, said Menahem Landau, head of Caveret Ventures, a defence tech investment company.
  • Israel's vital tech sector, dragged down by the war in Gaza, is showing early signs of recovery, buoyed by a surge in defence innovation and fresh investment momentum.
  • Until then, the ministry had primarily sourced from Israel's large defence firms, said Menahem Landau, head of Caveret Ventures, a defence tech investment company.
Israel's vital tech sector, dragged down by the war in Gaza, is showing early signs of recovery, buoyed by a surge in defence innovation and fresh investment momentum.
Cutting-edge technologies represent 17 percent of the country's GDP, 11.5 percent of jobs and 57 percent of exports, according to the latest available data from the Israel Innovation Authority (IIA), published in September 2025.
But like the rest of the economy, the sector was not spared the knock-on effects of the war, which began in October 2023 and led to staffing shortages and skittishness from would-be backers.
Now, with a ceasefire largely holding in Gaza since October, Israel's appeal is gradually returning, as illustrated in mid-December, when US chip giant Nvidia announced it would create a massive research and development centre in the north that could host up to 10,000 employees.
"Investors are coming to Israel nonstop," Prime Minister Benjamin Netanyahu said at the time.
After the war, the recovery can't come soon enough.
"High-tech companies had to overcome massive staffing cuts, because 15 to 20 percent of employees, and sometimes more, were called up" to the front as reservists, IIA director Dror Bin told AFP.
To make matters worse, in late 2023 and 2024, "air traffic, a crucial element of this globalised sector, was suspended, and foreign investors froze everything while waiting to see what would happen", he added.
The war also sparked a brain drain in Israel.
Between October 2023 and July 2024, about 8,300 employees in advanced technologies left the country for a year or more, according to an IIA report published in April 2025.
The figure represents around 2.1 percent of the sector's workforce.
The report did not specify how many employees left Israel to work for foreign companies versus Israeli firms based abroad, or how many have since returned to Israel.

Rise in defence startups

In 2023, the tech sector far outpaced GDP growth, increasing by 13.7 percent compared to 1.8 percent for GDP. 
But the sector's output stagnated in 2024 and 2025, according to IIA figures.
Industry professionals now believe the industry is turning a corner.
Israeli high-tech companies raised $15.6 billion in private funding in 2025, up from $12.2 billion in 2024, according to preliminary figures published in December by Startup Nation Central (SNC), a non-profit organisation that promotes Israeli innovation.
Deep tech -- innovation based on major scientific or engineering advances such as artificial intelligence, biotech and quantum computing -- returned in 2025 to its pre-2021 levels, according to the IIA. 
The year 2021 is considered a historic peak for Israeli tech.
The past two years have also seen a surge in Israeli defence technologies, with the military engaged on several fronts from Lebanon and Syria to Iran, Yemen, Gaza and the occupied West Bank.
Between July 2024 and April 2025, the number of startups in the defence sector nearly doubled, from 160 to 312, according to SNC.
Of the more than 300 emerging companies collaborating with the research and development department of Israel's defence ministry, "over 130 joined our operations during the war", Director General Amir Baram said in December.
Until then, the ministry had primarily sourced from Israel's large defence firms, said Menahem Landau, head of Caveret Ventures, a defence tech investment company.
But he said the war pushed the ministry "to accept products that were not necessarily fully finished and tested, coming from startups".
"Defence-related technologies have replaced cybersecurity as the most in-demand high-tech sector," the reserve lieutenant colonel explained.
"Not only in Israel but worldwide, due to the war between Russia and Ukraine and tensions with China".
dms/tgg/mj/acc/jd/smw

technology

Xbox boss Phil Spencer retires as Microsoft shakes up gaming unit

  • Spencer headed the Xbox unit for 12 of his 38 years at Microsoft, nearly tripling the size of the business as video games evolved from packaged software for consoles to subscription services and digital downloads on an array of devices.
  • Microsoft on Friday put out word that Xbox stalwart Phil Spencer is retiring, in a shakeup of leadership at the tech titan's video game unit.
  • Spencer headed the Xbox unit for 12 of his 38 years at Microsoft, nearly tripling the size of the business as video games evolved from packaged software for consoles to subscription services and digital downloads on an array of devices.
Microsoft on Friday put out word that Xbox stalwart Phil Spencer is retiring, in a shakeup of leadership at the tech titan's video game unit.
Former Instacart chief operating officer Asha Sharma will take over as head of Microsoft Gaming, with Matt Booty becoming executive vice president and chief content officer.
"As we celebrate Xbox's 25th year, the opportunity and innovation agenda in front of us is expansive," Microsoft chief executive Satya Nadella said in a message to employees.
"I am long on gaming and its role at the center of our consumer ambition."
Changes to the gaming team include Sarah Bond leaving her job as Xbox president "to begin a new chapter" away from Microsoft, according to the company.
The shakeup comes as cloud computing and artificial intelligence have become priorities at Microsoft, driving revenue growth but also massive spending on infrastructure to power the technology.
"When I walked through Microsoft's doors as an intern in June of 1988, I could never have imagined the products I'd help build, the players and customers we'd serve or the extraordinary teams I'd be lucky enough to join," Spencer said in a message to colleagues.
"It's been an epic ride and truly the privilege of a lifetime."
Spencer headed the Xbox unit for 12 of his 38 years at Microsoft, nearly tripling the size of the business as video games evolved from packaged software for consoles to subscription services and digital downloads on an array of devices.
Spencer also guided the Xbox team through acquisitions of Activision Blizzard, ZeniMax, and Minecraft.
Xbox boasts more than 500 million monthly users and a vast stable of game studios, along with a subscription gaming service.
"We are witnessing the reinvention of play," Sharma said in a blog post announcing the leadership changes.
"To meet the moment, we will invent new business models and new ways to play by leaning into what we already have: iconic teams, characters and worlds that people love."
gc/nro

court

What's next after US Supreme Court tariff ruling?

BY BEIYI SEOW

  • There will be "more uncertainty, more volatility for businesses to navigate, and more fraught trade deals for countries to negotiate," Lipsky added.
  • The Supreme Court's striking down of President Donald Trump's global tariffs, while a relief to many, heralds more months of uncertainty as US businesses brace for new levies and a fight for refunds plays out.
  • There will be "more uncertainty, more volatility for businesses to navigate, and more fraught trade deals for countries to negotiate," Lipsky added.
The Supreme Court's striking down of President Donald Trump's global tariffs, while a relief to many, heralds more months of uncertainty as US businesses brace for new levies and a fight for refunds plays out.
What comes next after the conservative-majority court's decision?

Long road to refunds

The ruling sets up a long fight for tariff refunds, as the duties, now deemed illegal, generated some $133.5 billion from January 2025 to mid-December.
The top court did not address the refunds issue, and analysts say this will be decided by lower courts in the coming months.
The US Court of International Trade is expected to manage this process, said ING analysts Carsten Brzeski and Julian Geib.
"Refunds won't come automatically, as any importer that wants its money back must sue individually," they said.
"This process has already kicked off, with over 1,000 corporate entities now involved in a legal fight."
Trump told reporters Friday: "We'll end up being in court for the next five years."

More volatility

Hours after the court decision, Trump vowed to impose a new 10-percent tariff on imports under an alternative authority.
This is widely seen as a temporary move to pave the way for more durable tariffs, but is set to trigger other challenges and upheaval in the meantime.
The law Trump is tapping for this tariff -- Section 122 of the Trade Act of 1974 -- only allows for a duty of 150 days unless Congress extends it.
Trump has said there will be new investigations of unfair trade practices under Section 301, a path towards more lasting duties.
Josh Lipsky, chair of international economics at the Atlantic Council, said Friday's ruling merely "opens a new chapter" in Trump's tariff policy.
There will be "more uncertainty, more volatility for businesses to navigate, and more fraught trade deals for countries to negotiate," Lipsky added.

Losing speed

But for now, the court's decision "removes one of Trump's fastest tools for imposing broad tariffs," said ING.
US Treasury Secretary Scott Bessent told Fox News on Friday that tariffs based on the International Emergency Economic Powers Act (IEEPA) "were custom made for President Trump to assert leverage" against other countries.
"We were able to bring them to the table very quickly," he said.
"We will get back to the same tariff level for the countries," Bessent vowed. "It will just be in a less direct and slightly more convoluted manner."

Trade deal uncertainty?

With tariffs imposed via emergency economic powers forming the basis of recent trade talks, analysts warned that some partners may try to rethink their commitments.
Lipsky expects economies that have already made deals to keep them rather than "risk unraveling an agreement which at least has provided some stability."
But those still finalizing deals may have more leverage now.
Asia Society Policy Institute senior vice president Wendy Cutler expects that walking away from announced deals "does not seem to be in the cards for our partners."
"They know all too well that such a step could end up leaving them in a worse position with the White House," she said.

Lower tariffs?

With the Supreme Court ruling, consumers "face an overall average effective tariff rate of 9.1 percent, which remains the highest since 1946 excluding 2025," according to The Budget Lab at Yale University.
This is down from 16.9 percent.
Despite Trump's plan to move towards more lasting duties, Navy Federal Credit Union chief economist Heather Long expects Friday's ruling "will force a reset in tariff policy."
She anticipates this is "likely to lead to lower overall tariff rates and a more orderly imposition of future tariffs." 
bys/nro

court

Trump unleashes personal assault on 'disloyal' Supreme Court justices

BY CHRIS LEFKOW

  • "It's my opinion that the court has been swayed by foreign interests," he said.
  • US President Donald Trump launched an extraordinary personal attack Friday on the Supreme Court justices who struck down his global tariffs, including two of his own appointees, and claimed they were being "swayed by foreign interests."
  • "It's my opinion that the court has been swayed by foreign interests," he said.
US President Donald Trump launched an extraordinary personal attack Friday on the Supreme Court justices who struck down his global tariffs, including two of his own appointees, and claimed they were being "swayed by foreign interests."
"I'm ashamed of certain members of the court, absolutely ashamed, for not having the courage to do what's right for our country," Trump told reporters at a White House press conference.
"They're very unpatriotic and disloyal to our Constitution," he said, deriding them at one point as "fools and lap dogs."
The Supreme Court has overwhelmingly sided with Trump since he took office in January of last year, and the tariffs ruling was the first major setback for the Republican president before the conservative-dominated court.
Asked if he regretted nominating justices Amy Coney Barrett and Neil Gorsuch -- who both voted against him -- to the top court, Trump said he did not "want to say whether or not I regret."
"I think their decision was terrible," he said. "I think it's an embarrassment to their families if you want to know the truth, the two of them."
Chief Justice John Roberts, Coney Barrett and Gorsuch, all conservatives, joined with the court's three liberals in the 6-3 ruling that Trump's sweeping global tariffs were illegal.
Trump heaped praise on the conservative justices who voted to uphold his authority to levy tariffs -- Clarence Thomas, Samuel Alito and Brett Kavanaugh, a Trump appointee.
He thanked the three "for their strength and wisdom, and love of our country."
Trump in particular singled out Kavanaugh, who wrote a 63-page dissent to the tariffs ruling, calling him a "genius" and saying he was "so proud of him."

'You're going to find out'

The president also alleged there was foreign influence behind the ruling.
"It's my opinion that the court has been swayed by foreign interests," he said. "I think that foreign interests are represented by people that I believe have undue influence.
"They have a lot of influence over the Supreme Court, whether it's through fear or respect or friendships, I don't know," he said.
Asked by a reporter if he had evidence of foreign influence on the court, Trump replied: "You're going to find out."
Vice President JD Vance added his voice to the condemnation of the tariffs ruling, calling it "lawlessness from the court, plain and simple."
Tensions between the White House and the Supreme Court are not new -- a frustrated president Franklin D Roosevelt once proposed expanding the court to pack it with Democratic loyalists.
But Steven Schwinn, a constitutional law professor at the University of Illinois Chicago, said Trump's "gratuitous and ad homineum attacks" on individual justices reveal "his fundamental misunderstanding of the separation of powers."
"He seems to believe that any good-faith disagreement with his own interpretation of the law is, by definition, illegitimate," Schwinn told AFP.
"At the same time, he lacks any serious interpretation of the law of his own, except to say that the law is what he wants it to be. This is not how a democracy works."
Trump was also asked whether the six justices who voted against him would be welcome at next week's State of the Union speech before Congress.
"Three are happily invited," the president said.
The others are "invited, barely," he said, before adding "I couldn't care less if they come."
cl/ksb

Global Edition

Stocks rise after court ruling against US tariffs

  • The market is not "surprised by what it heard from the Supreme Court and at the same time, it's not surprised that the Trump administration is already touting its ability to make up for the lost revenue that would come from revoking the tariffs," said Briefing.com analyst Patrick O'Hare.
  • Wall Street stocks advanced Friday as markets digested a US Supreme Court decision striking down some of the White House's sweeping tariffs and President Donald Trump's response vowing new levies.
  • The market is not "surprised by what it heard from the Supreme Court and at the same time, it's not surprised that the Trump administration is already touting its ability to make up for the lost revenue that would come from revoking the tariffs," said Briefing.com analyst Patrick O'Hare.
Wall Street stocks advanced Friday as markets digested a US Supreme Court decision striking down some of the White House's sweeping tariffs and President Donald Trump's response vowing new levies.
The conservative-majority top court ruled six-three that a 1977 law known as the International Emergency Economic Powers Act Trump has relied on "does not authorize the president to impose tariffs." 
A furious Trump, who nominated two of the justices who repudiated him, said he was "absolutely ashamed" of some justices "for not having the courage to do what's right for our country" and vowed to impose a uniform tariff of 10 percent under a separate authority.
Wall Street stocks, which had opened lower following disappointing US economic data, pushed into positive territory and also ended higher following a choppy session. The S&P 500 ended up 0.7 percent.
Some analysts said they expect the ruling to lead to lower inflation, but others described the situation as fundamentally uncertain.
The market is not "surprised by what it heard from the Supreme Court and at the same time, it's not surprised that the Trump administration is already touting its ability to make up for the lost revenue that would come from revoking the tariffs," said Briefing.com analyst Patrick O'Hare.
Mark Malek, chief investment officer at Siebert Financial, described the ruling as throwing a "pretty large wrench into the policy machine," predicting that policy uncertainty would remain "elevated."
Jeff Buchbinder, chief equity strategist for LPL Financial, predicted Trump would likely pivot to a different legal strategy.
"However, if lower tariffs help cool inflation, it could firm up expectations for Fed rate cuts later this year," Buchbinder said in a note.
In Europe, a closely watched survey on Friday showed that business activity in the eurozone accelerated in February, indicating that the region's economy is on a more stable footing. 
British firms also boosted output in February, according to the purchasing managers' index published by S&P Global.
London's FTSE 100 stock index hit a fresh record high, as did the CAC 40 in Paris.
In Asia, Hong Kong fell as it reopened from a three-day break for the Lunar New Year, and Tokyo was also down. 
Oil prices, which surged to multi-month highs this week on US suggestions of military action against Iran, moved sideways as markets kept an eye on geopolitics.
Trump had suggested on Thursday that "bad things" would happen if Tehran did not strike a deal within 10 days, which he subsequently extended to 15.
Asked by a reporter on Friday whether he was contemplating a limited military strike, Trump answered: "The most I can say -- I am considering it."
Also Friday, data showed the US economy expanded at a 1.4 percent annual rate in the October to December period, significantly below the 2.5 percent pace that analysts had forecasted for the quarter.
The period included a lengthy US government shutdown amid a budget fight between Trump and Congress.
"At first glance the first reading of fourth quarter GDP was very disappointing," said Chris Zaccarelli, chief investment officer at Northlight Asset Management.
"However, the government was shut down for almost half the quarter," he added.

Key figures at around 2110 GMT

New York - Dow: UP 0.5 percent at 49,625.97 (close)
New York - S&P: UP 0.7 percent at 6,909.51 (close)
New York - Nasdaq: UP 0.9 percent at 22,886.07 (close)
London - FTSE 100: UP 0.6 percent at 10,686.89 (close)
Paris - CAC 40: UP 1.4 percent at 8,515.49 (close)
Frankfurt - DAX: UP 0.9 percent at 25,260.69 (close)
Tokyo - Nikkei 225: DOWN 1.1 percent at 56,825.70 (close)
Hong Kong - Hang Seng Index: DOWN 1.1 percent at 26,413.35 (close)
Shanghai - Composite: Closed for holiday
Euro/dollar: UP at $1.1788 from $1.1773 on Thursday
Pound/dollar: UP at $1.3487 from $1.3465
Euro/pound: DOWN at 87.37 pence from 87.43 pence
Dollar/yen: DOWN at 155.02 yen from 155.01 yen
Brent North Sea Crude: UP 0.1 percent at $71.76 per barrel
West Texas Intermediate: DOWN 0.1 percent at $66.39 per barrel
burs-jmb/sla

tariff

'Not the end': Small US firms wary but hopeful on tariff upheaval

BY BEIYI SEOW

  • He was forced to radically scale back his Pennsylvania-based business last year after Trump imposed new tariffs on virtually all trading partners.
  • Small American businesses warned Friday that a tougher trade landscape was here to stay, as the Supreme Court's rejection of sweeping tariffs was quickly followed by President Donald Trump's pledge to impose new duties.
  • He was forced to radically scale back his Pennsylvania-based business last year after Trump imposed new tariffs on virtually all trading partners.
Small American businesses warned Friday that a tougher trade landscape was here to stay, as the Supreme Court's rejection of sweeping tariffs was quickly followed by President Donald Trump's pledge to impose new duties.
"It's certainly not the end of the difficult trade environment that we're trying to deal with," said Ben Knepler, co-founder of outdoor chair maker True Places.
He was forced to radically scale back his Pennsylvania-based business last year after Trump imposed new tariffs on virtually all trading partners.
The high court's decision on Friday that these country-specific tariffs were illegal brought limited comfort.
"Even with this ruling, there's too much uncertainty for us to be able to restart production for the US," he told AFP.
Knepler had shifted his supply chain out of China to Cambodia at heavy cost after Trump's trade war with Beijing during his first presidency.
But Trump's new 19-percent tariff on Cambodia imports last year forced him to halt manufacturing. He is now working on selling the remainder of his inventory rather than continuing production while he plans his next steps.
But he said: "It does give us a little bit of hope that at least there's some kind of check on what was previously unlimited power outside of Congress."

'Surgical approach'

Josh Staph, chief executive of Ohio-based Duncan Toys Company, urged a "more surgical approach to tariffs" after Trump announced his plan to impose new and sweeping 10-percent duties on imports.
Duncan Toys has been producing yo-yos, flying discs and model gliders in China, and Washington's escalating tariffs with Beijing last year similarly forced him to pause imports.
He was "cautiously optimistic" over the Supreme Court ruling.
But he said he "knows the administration is committed to imposing these tariffs, despite their impact on US toy companies and consumers."
Boyd Stephenson, who runs retailer Game Kastle in Maryland, told AFP he was "very excited to hear that the tariffs have been struck down."
He believes the legal limits can do "wonderful things for the gaming and toy industry over the next year," but conceded "the devil's always in the details."
"It's very much a wait to see how the removal of the tariffs percolates through the supply chain," he added.
Meanwhile, the effects of Trump's incoming duties remain uncertain.

'A setback'

Drew Greenblatt, president of Baltimore-based metal product manufacturer Marlin Steel, worries however that Friday's court ruling was "a setback" for the United States.
Greenblatt has been supportive of Trump's steel levies, which alongside other sector-specific tariffs were not impacted by the high court's decision.
But he expressed concern that the outcome would hamper Trump's ability to navigate and negotiate trade deals with an aim of boosting US manufacturing.
"Do you think if we get into an adversarial relationship with one of these trading entities, they're going to supply us ships?" he asked. "Do you think they're going to supply us critical materials?"
"The wider concern is we need a robust manufacturing industry," he told AFP.
bys/ksb

indicator

US GDP growth misses expectations as Trump blames shutdown

BY BEIYI SEOW

  • - Fed divisions - A separate government report Friday showed that the Federal Reserve's preferred measure of inflation picked up a touch more than analysts expected as well.
  • US economic growth cooled much more than expected in the final months of 2025, government estimates showed Friday, capping the first year of Donald Trump's return to the presidency.
  • - Fed divisions - A separate government report Friday showed that the Federal Reserve's preferred measure of inflation picked up a touch more than analysts expected as well.
US economic growth cooled much more than expected in the final months of 2025, government estimates showed Friday, capping the first year of Donald Trump's return to the presidency.
The Republican leader was quick to blame a lengthy government shutdown last year for the deceleration, pinning responsibility on Democratic lawmakers in a social media post before the latest data was released.
The world's biggest economy expanded at a 1.4 percent annual rate in the October to December period, the Department of Commerce said.
This was significantly below the 2.5 percent pace that analysts had forecasted for the quarter.
Full-year GDP growth came in at 2.2 percent in 2025, lower than the 2.8 percent figure for the prior year.
"The Democrat Shutdown cost the U.S.A. at least two points in GDP," Trump wrote in a Truth Social post, about a half-hour before the official results were published.
He also pointed the finger again at the Federal Reserve, bashing outgoing Chairman Jerome Powell and calling for "LOWER INTEREST RATES."
In an unusual move, Trump ushered reporters out from a working breakfast with governors after the GDP report was released.
Analysts generally expect any hit to economic growth from the record-long shutdown, which lasted from October to mid-November, to be temporary. But some warn of repercussions from prolonged stoppages.
"At first glance the first reading of fourth quarter GDP was very disappointing," said Chris Zaccarelli, chief investment officer at Northlight Asset Management.
"However, the government was shut down for almost half the quarter," he added.
Some analysts estimate that if the shutdown hadn't occurred, fourth quarter GDP growth would have been closer to 2.4 percent, Zaccarelli said, but conceded this is hard to predict accurately.

Consumers, AI investment

"Solid consumption and the AI boom kept the economy growing," said Navy Federal Credit Union chief economist Heather Long.
But she added in a note that 2025 was also a year of jobless growth "where hiring was anemic during the expansion and that left many Americans frustrated and uneasy."
The Commerce Department said slower fourth quarter growth "reflected downturns in government spending and exports and a deceleration in consumer spending."
This was partially offset by a pick-up in investments.
The fourth quarter figure was a marked slowdown too from the 4.4 percent growth in the third quarter.
Yet, the economy saw a boost from consumer spending and investment in the year overall.
The US economy expanded at a decent clip last year despite warnings that Trump's economic policies -- ranging from sweeping global tariffs to deportations -- could weigh on growth.
This has not immediately taken place. 
Consumption has driven growth as households kept spending despite the squeeze from stubborn inflation and a weaker jobs market.
But many Americans, particularly from middle- and lower-income families, have become more conscious of prices, turning increasingly to warehouse stores as they tighten their budgets.
Bernard Yaros of Oxford Economics told AFP that fourth quarter GDP was helped by business investment.
The artificial intelligence capital expenditure cycle "is a major driver of the strength on the investment side of the economy," he said.
Yet, while AI investments and spending by well-off families have powered the economy, it remains unclear if households feel uplifted.

Fed divisions

A separate government report Friday showed that the Federal Reserve's preferred measure of inflation picked up a touch more than analysts expected as well.
The personal consumption expenditures (PCE) price index was up 2.9 percent from a year ago in December, higher than the 2.8 percent economists anticipated and also above November's figure.
This underscores the Trump administration's challenges as he tries to convince Americans of his economic successes.
Analysts say this could bring complications to the central bank too.
Zaccarelli expects the GDP report will "prolong the disagreement" between Fed officials who want to keep interest rates higher to fight inflation, and those who want to slash rates sooner to help an economy that may be more fragile than expected.
bys/md

diplomacy

Germany's Merz to visit China next week

  • Merz leaves Berlin Tuesday and is scheduled to be welcomed with military honours on Wednesday in Beijing by Prime Minister Li Qiang before later meeting Xi for talks and a dinner, Hille said.
  • German Chancellor Friedrich Merz will visit China next week for talks with President Xi Jinping centred on trade between the top EU economy and the Asian giant, Berlin said.
  • Merz leaves Berlin Tuesday and is scheduled to be welcomed with military honours on Wednesday in Beijing by Prime Minister Li Qiang before later meeting Xi for talks and a dinner, Hille said.
German Chancellor Friedrich Merz will visit China next week for talks with President Xi Jinping centred on trade between the top EU economy and the Asian giant, Berlin said.
The visit, the conservative leader's first to China since taking office last May, will be just after Lunar New Year festivities, his spokesman Sebastian Hille pointed out Friday, calling this "a good omen".
China's top diplomat Wang Yi told Merz at the Munich Security Conference last week that Beijing hoped to bring ties "to a new level" and wanted Germany to be a "stabilising anchor for strategic relations".
Merz leaves Berlin Tuesday and is scheduled to be welcomed with military honours on Wednesday in Beijing by Prime Minister Li Qiang before later meeting Xi for talks and a dinner, Hille said.
During the two-day visit, Merz will also visit Beijing's Forbidden City and German car company Mercedes-Benz. He then travels to Hangzhou to visit Chinese robotics firm Unitree and German turbine-maker Siemens Energy.
Hille said Merz would travel with a delegation of business leaders, but without yet naming the companies.
The talks between the leaders of China, the world's number two economy, and Germany, the third-biggest, come at a critical time for Germany, whose car makers and other companies are increasingly reeling from intense Chinese competition.
The countries' traditionally deep economic ties have frayed in recent years over issues ranging from claims of unfair trade practices to protectionism and the supply of critical minerals.

'No illusions'

The visit comes as US President Donald Trump, with his unpredictable foreign- and trade-policy manoeuvres, has upset traditional allies and threatened to upend the international order.
Merz said Friday he was going to China in part because export-dependent Germany needs "economic relations all over the world".
"But we should be under no illusions," he added, pointing out that the one-party state has its own global ambitions and political beliefs.
"China today sees itself in stark contrast to the US and claims the right to define a new multilateral order according to its own rules," Merz told a congress of his CDU party.
He said that when it comes to freedom of opinion, religion and the press, Beijing considers human-rights advocacy "as interference in its internal affairs".
Hille, asked earlier if sensitive rights questions would be up for discussion, said it could be assumed Merz would "of course discuss the whole spectrum of issues".
Another point of contention will be the Ukraine war, where Germany has been a strong backer of Kyiv since the start of Russia's full-scale invasion four years ago next week.
China and Russia are close partners, and while Beijing has said it takes a neutral stance on the Ukraine war, it has never condemned the invasion.
Germany's foreign minister Johann Wadephul visited Beijing in December, pressing Chinese officials including Wang to use their influence to help end Russia's war in Ukraine.
bur-vbw/fz/jhb

tech

X appeals EU's 120-mn-euro fine over digital content violations

  • X said it filed an appeal at the General Court of the EU challenging the fine by the commission, which acts as the EU's digital watchdog.
  • Elon Musk's X social media platform said Friday that it had filed an appeal with the European Union's top court against a 120-million-euro ($142 million) fine for breaking its digital content rules.
  • X said it filed an appeal at the General Court of the EU challenging the fine by the commission, which acts as the EU's digital watchdog.
Elon Musk's X social media platform said Friday that it had filed an appeal with the European Union's top court against a 120-million-euro ($142 million) fine for breaking its digital content rules.
The European Commission imposed the penalty in December for violations including breaching its transparency obligation, triggering an angry reaction in the United States.
X said it filed an appeal at the General Court of the EU challenging the fine by the commission, which acts as the EU's digital watchdog.
The fine was the first ever under the bloc's landmark Digital Services Act (DSA), which has come under fierce attack in the United States, including claims that it allows censorship.
X on Friday denounced what it called the EU's "incomplete and superficial investigation".
Its global government affairs team said on the platform that the EU's probe included "grave procedural errors, a tortured interpretation of the obligations under the DSA, and systematic breaches of rights of defence and basic due process requirements suggesting prosecutorial bias".
"This landmark case is the first judicial challenge to a DSA fine," it added.
An EU spokesman told AFP the commission was aware of the appeal, and "is ready to defend its decision in court".

Wider probe

The EU said last year that X was guilty of breaching the DSA's transparency obligation as part of an investigation that began in December 2023.
The commission also said that X's breaches included the deceptive design of its "blue checkmark" for supposedly verified accounts, and its failure to provide access to public data for researchers.
Musk at the time hit back by saying the EU should be "abolished".
A few weeks later, the US State Department announced sanctions on five individuals including former EU commissioner Thierry Breton.
A former top tech regulator at the commission, Breton often clashed with tech tycoons including Musk over their obligations to follow EU rules.
X has frequently been in the EU's crosshairs.
Under the same DSA probe, EU regulators are still investigating how X tackles the spread of illegal content and information manipulation. 
The first part of the probe had appeared to stall since 2024.
Then in January 2026, the EU opened another investigation under the DSA law over its AI chatbot Grok's generation of sexualised deepfake images of women and minors after an international backlash.
raz/del/js

AI

'Alpha male' AI world shuts out women: computing prof Hall

BY KATIE FORSTER

  • She was made a dame in 2009, and has also acted as a senior adviser to the British government and the United Nations on artificial intelligence.
  • Artificial intelligence could change the world but the dearth of women in the booming sector will undermine pledges for inclusive technology, top computer scientist Wendy Hall told AFP on Friday.
  • She was made a dame in 2009, and has also acted as a senior adviser to the British government and the United Nations on artificial intelligence.
Artificial intelligence could change the world but the dearth of women in the booming sector will undermine pledges for inclusive technology, top computer scientist Wendy Hall told AFP on Friday.
Hall, a professor at Britain's University of Southampton known for her pioneering research into web systems, said that the gender imbalance had long been stark.
"All the CEOs are men," the 73-year-old said, describing the situation at a major AI summit held in New Delhi this week as "amazingly awful".
"It's totally male-dominated, and they just don't get the fact that this means that 50 percent of the population is effectively not included in the conversations."
Gender bias "creeps through everything, because they don't think about it when they build their products", Hall said.
She was speaking in an interview at the AI Impact Summit, where dozens of governments are expected to lay out a shared vision on how to handle the promises and pitfalls of generative AI.
Prime Minister Narendra Modi, who is pushing for India to become a global AI power, said Thursday that advanced computing systems "must become a medium for inclusion and empowerment".
But when he posed on stage for a photo with leading tech business figures, 13 men were present and only one woman -- Joelle Pineau, a former Meta researcher who is now chief AI officer at Cohere.
It was a similar story at another photo opportunity with world leaders including French President Emmanuel Macron and Brazil's Luiz Inacio Lula da Silva.

'Biased world'

Many studies have shown how generative AI tools like ChatGPT and Google's Gemini reflect stereotypes contained in the vast reams of text and images they are trained on.
"We're a biased world, so the training is done on biased data," Hall said.
A 2024 UNESCO study found that large language models described women in domestic roles more often than men, who were more likely to be linked to words like "salary" and "career".
While tech companies work to counter these built-in machine biases, women have found themselves targeted by AI tools in other ways.
Several countries moved to ban Elon Musk's Grok AI tool this year after it sparked global outrage over its ability to create sexualised deepfakes depicting real people -- mostly women -- in skimpy clothing.
Hall, a longtime advocate for women in technology, said that things had "not really improved that much" since she had her start decades ago.
"In AI, it's getting worse."
Few women choose to study computer science in the first place, then "once you get more senior, women fall away", Hall said.
Women-led startups "don't get the investment that the men get", and many simply "get fed up", she added.
Women also "drop out because they just don't want to be part of that alpha male world".

'Felt like giving up'

Hall, who wrote her first paper about the lack of women in computing in the late 1980s, said she had faced "all sorts of barriers" during her career.
"I've had to push through, be strong, have good mentors. And yeah, I felt like giving up many times."
She was made a dame in 2009, and has also acted as a senior adviser to the British government and the United Nations on artificial intelligence.
But at her first job interview at a university nearly five decades ago, "I was told I couldn't have the job because I was a woman" by an all-male panel, she recalled.
"I was supposed to be teaching maths to engineers, and they said as a young woman I wouldn't be able to control a class of male engineers."
Although she has noticed no uptick in women entering the field overall, Hall said she had been inspired in New Delhi.
"The wonderful thing about this conference are the young people here," she said.
"There are a lot of young women here from India and they're all abuzz with the opportunities."
kaf/pbt

energy

Turkey, Saudi sign major solar power deal

BY FULYA OZERKAN

  • Under the agreement, Saudi firm Acwa will build two solar power plants in the provinces of Sivas and Karaman in central Turkey, with a combined capacity of 2,000 megawatts -- enough to meet the electricity needs of 2.1 million households, officials said.
  • Saudi Arabia will help Turkey build solar plants capable of powering more than two million homes, under a deal the two countries signed Friday that aims to deepen energy cooperation between the key regional players.
  • Under the agreement, Saudi firm Acwa will build two solar power plants in the provinces of Sivas and Karaman in central Turkey, with a combined capacity of 2,000 megawatts -- enough to meet the electricity needs of 2.1 million households, officials said.
Saudi Arabia will help Turkey build solar plants capable of powering more than two million homes, under a deal the two countries signed Friday that aims to deepen energy cooperation between the key regional players.
The signing ceremony at an Ottoman-era palace by the waters of the Bosphorus Strait in Istanbul followed a $2-billion inter-governmental energy agreement between the two countries during a landmark visit by Turkish President Recep Tayyip Erdogan to Riyadh on February 3.
Turkey is preparing to host the United Nations' COP31 climate summit on its Mediterranean coast later this year, with Australia leading the negotiations.
Ties between Turkey and Saudi Arabia have steadily improved in recent years after collapsing in the wake of the killing of journalist Jamal Khashoggi by Saudi agents inside the kingdom's consulate in Istanbul in October 2018.
The two countries now cooperate on a range of diplomatic issues, including support for Gaza and backing Syria's new government following the ouster of president Bashar al-Assad in 2024.
Under the agreement, Saudi firm Acwa will build two solar power plants in the provinces of Sivas and Karaman in central Turkey, with a combined capacity of 2,000 megawatts -- enough to meet the electricity needs of 2.1 million households, officials said.
Turkish energy minister Alparslan Bayraktar hailed the project as "one of the largest domestic and foreign investments ever made in our energy sector", and said Turkey "will also secure electricity procurement at the lowest price ever achieved in our country".
Turkey is undergoing an energy "revolution", he said, adding that 62 percent of installed electricity capacity last year came from renewable sources.
"We have increased our installed capacity in solar and wind energy from almost zero to over 40,000 megawatts today. We consistently emphasise that our country has much greater potential in renewable energy," he told a ceremony.
By 2035, Turkey aims at increasing its installed capacity in solar and wind to 120,000 megawatts.
Ankara is also targeting net zero emissions by 2053, but 33.6 percent of its electricity came from coal last year, according to official ministry data.
In response to an AFP question about Turkey's dependence on coal, Bayraktar said Turkey aims at cheaper energy and reducing reliance on energy imports.
"Coal can initially be replaced with gas, but in the medium and long term it can be substituted with nuclear" power plants, he said.
fo/jhb

politics

Victorious Takaichi promises 'strong and prosperous' Japan

BY KYOKO HASEGAWA

  • Takaichi, whose ruling LDP party won a two-thirds majority in February 8 snap elections, angered China by suggesting in November that Japan could intervene militarily if Beijing sought to take Taiwan by force.
  • Prime Minister Sanae Takaichi pledged Friday to make Japan "strong and prosperous", while hitting out at China and pledging to keep "hitting the growth button" following her party landslide election win.
  • Takaichi, whose ruling LDP party won a two-thirds majority in February 8 snap elections, angered China by suggesting in November that Japan could intervene militarily if Beijing sought to take Taiwan by force.
Prime Minister Sanae Takaichi pledged Friday to make Japan "strong and prosperous", while hitting out at China and pledging to keep "hitting the growth button" following her party landslide election win.
"China is intensifying its attempts to unilaterally change the status quo by force or coercion in the East China Sea and the South China Sea, while also expanding and stepping up its military activities in the areas surrounding our country," Takaichi told parliament in a policy address.
Echoing her predecessor Shigeru Ishiba, Takaichi also said that Japan was facing "the most severe and complex security environment" since World War II, citing not just China but also Russia and North Korea.
As a result, Takaichi said she will aim this year to revise Japan's three key defence policy documents, as "changes in the security environment -- such as the emergence of new ways of warfare and the need to prepare for prolonged conflicts -- are accelerating across a wide range of fields."
She added that she wanted to accelerate discussions on further loosening Japan's self-imposed ban on the export of lethal weapons.
"This will contribute to strengthening the deterrence and response capabilities of our allies and like-minded partners, while also helping to reinforce Japan's defence production base and its foundation of civilian technologies," Takaichi said.
Takaichi, whose ruling LDP party won a two-thirds majority in February 8 snap elections, angered China by suggesting in November that Japan could intervene militarily if Beijing sought to take Taiwan by force.
China, which regards the democratic island as part of its territory and has not ruled out force to annex it, advised its citizens to avoid travel to Japan.
Beijing's top diplomat Wang Yi told the Munich Security Conference on Saturday that forces in Japan were seeking to "revive militarism".

Growth button

On the economy, Takaichi insisted that her fiscal policies will not be "reckless", as investors worry that her efforts to boost growth and help consumers with inflation will swell Japan's debts.
"We are not going to pursue a reckless fiscal policy that would undermine the market's confidence," Takaichi told parliament, undertaking to reduce Japan's ratio of debt to gross domestic product.
"I will keep hitting that growth switch -- again and again and again -- pushing it as much as I possibly can," she said.
She pledged to promote domestic investment in "risk management" areas such as energy, health, infrastructure and cyber security.
In addition, her government would focus on "growth" areas such as AI, chips and ship-building.
Japanese inflation slowed in January, government data showed earlier Friday, in welcome news for Takaichi.
Soaring inflation in Asia's number-two economy -- after decades of flat or falling prices -- contributed to the downfall of Takaichi's two predecessors and Japan's first woman premier has made helping households a priority.
Excluding fresh food, "core" consumer prices rose 2.0 percent year-on-year, the slowest rise in two years, down from 2.4 percent in December, and in line with market forecasts.
In the address, Takaichi repeated her campaign pledge to consider suspending consumption tax on food for two years to help households cope with inflation.
This has exacerbated market worries about Japan's Godzilla-sized debts, with yields on long-dated government bonds hitting record highs last month.
She also announced in her policy speech a cross-party "national council" to discuss taxation and how to fund ageing Japan's ballooning social security bill.
In addition, Takaichi said she wanted to "make maximum use of decarbonised power sources" to ensure energy security.
"Ensuring domestically produced energy is important from the viewpoint of energy security," Takaichi said.
kh-tmo-aph-stu/lb

strike

Striking Argentine workers clash with police in protest over labor reforms

BY NICOLáS BIEDERMAN

  • The last general strike in Argentina was on April 10, 2025, but adherence was uneven as workers in the public transport system did not join. 
  • Shops and supermarkets closed, flights were canceled and garbage piled up Thursday as Argentine workers staged their fourth general strike of President Javier Milei's term, some clashing with police.
  • The last general strike in Argentina was on April 10, 2025, but adherence was uneven as workers in the public transport system did not join. 
Shops and supermarkets closed, flights were canceled and garbage piled up Thursday as Argentine workers staged their fourth general strike of President Javier Milei's term, some clashing with police.
The few buses running in Buenos Aires were nowhere near full, although car traffic was unusually heavy as many workers observed the 24-hour strike against a contentious labor reform.
Dozens of flights were canceled and train stations were left deserted with only a handful of buses running, AFP observed.
On roads leading into the capital, small groups of protesters blocked traffic.
Later in the day, several thousand demonstrators gathered outside parliament, where a few dozen participants engaged in running battles with police, throwing bottles and stones.
Officers replied with tear gas, water cannons and rubber bullets to clear the area.
Police were observed making about a dozen arrests.
The CGT labor federation said more workers adhered to the walkout call than during any of the previous three strikes.
"It has levels of compliance like never before under this government," union leader Jorge Sola told Radio con Vos, claiming that "90 percent of activity had stopped."
The contested reforms pushed by budget-slashing Milei, an ideological ally of US President Donald Trump, would make it easier to hire and fire workers in a country where job security is already hard to come by.
It would also reduce severance pay, limit the right to strike, increase work hours and restrict holiday provisions.
The measure was approved by the chamber of deputies in the early morning hours of Friday, and will go back to the Senate for a final green light.
"I want to work because I am afraid of losing my job but I cannot get there. I will have to walk," Nora Benitez, a 46-year-old home caregiver, said ahead of a five kilometer (three mile) trek to her job along streets reeking of uncollected garbage.

Reforms spark protests

The labor action comes as Argentina's economy is showing signs of a downturn in manufacturing, with more than 21,000 companies having shuttered in two years under Milei.
He had come to power after wielding a chainsaw at rallies during the 2023 election campaign to symbolize the deep cuts he planned to make to public spending.
Unions say some 300,000 jobs have been lost since Milei's austerity measures began.
Most recently, Fate -- Argentina's main tire factory -- on Wednesday announced the closure of its plant in Buenos Aires, prompting some 900 job cuts.
The last general strike in Argentina was on April 10, 2025, but adherence was uneven as workers in the public transport system did not join. 
Last week, thousands of people demonstrated in Buenos Aires as senators debated the reform bill, and clashes with police resulted in about 30 arrests.
On Tuesday, the government issued an unusual statement warning reporters about the "risk" of covering protests, and announced it would establish an "exclusive zone" from which the media can work.
"In the event of acts of violence, our forces will act," a statement from the security ministry said.
Almost 40 percent of Argentine workers lack formal employment contracts, and unions say the new measures will make matters worse.
But the government argues they will in fact reduce under-the-table employment and create new jobs by lowering the tax burden on employers.
Milei, in office since December 2023, has achieved at least one of his macroeconomic goals: bringing annual inflation down from 150 percent to 32 percent in two years.
But it is a success that has come at the cost of massive public sector job cuts and a drop in disposable income that has sapped consumption and economic activity.
Milei will follow Thursday's events at home from Washington, where he attended the first meeting of Trump's "Board of Peace," which has drawn criticism as an attempt to rival the United Nations.
nb/dw/mlr/jgc/sla/jfx

semiconductors

Nvidia nears deal for scaled-down investment in OpenAI: report

  • Huang made the remarks late in January after the Wall Street Journal reported that Nvidia's plan to invest up to $100 billion in OpenAI had been put on ice. 
  • Nvidia is on the cusp of investing $30 billion in OpenAI, scaling back a plan to pump $100 billion into the ChatGPT maker, the Financial Times reported Thursday.
  • Huang made the remarks late in January after the Wall Street Journal reported that Nvidia's plan to invest up to $100 billion in OpenAI had been put on ice. 
Nvidia is on the cusp of investing $30 billion in OpenAI, scaling back a plan to pump $100 billion into the ChatGPT maker, the Financial Times reported Thursday.
The AI-chip powerhouse will be part of OpenAI's new funding round with an agreement that could be concluded as early as this weekend, according to the Times, which cited unnamed sources close to the matter.
Nvidia declined to comment on the report.
Nvidia chief executive Jensen Huang has insisted that the US tech giant will make a "huge" investment in OpenAI and dismissed as "nonsense" reports that he is unhappy with the generative AI star.
Huang made the remarks late in January after the Wall Street Journal reported that Nvidia's plan to invest up to $100 billion in OpenAI had been put on ice. 
Nvidia announced the plan in September, with the investment helping OpenAI build more infrastructure for next-generation artificial intelligence.
The funding round is reported to value OpenAI at some $850 billion.
Huang told journalists that the notion of Nvidia having doubts about a huge investment in OpenAI was "complete nonsense."
Huang insisted that Nvidia was going ahead with its investment in OpenAI, describing it as "one of the most consequential companies of our time".
"Sam is closing the round, and we will absolutely be involved in the round," Huang said, referring to OpenAI chief executive Sam Altman.
"We will invest a great deal of money."
Nvidia has become the coveted supplier of processors needed for training and operating the large language models (LLM) behind chatbots like OpenAI's ChatGPT or Google Gemini.
LLM developers like OpenAI are directing much of the mammoth investment they have received into Nvidia's products, rushing to build GPU-stuffed data centers to serve an anticipated flood of demand for AI services.
The AI rush, and its frenzy of investment in giant data centers and the massive purchase of energy-intensive chips, continues despite signs of concern in the markets.
gc-bl/sla

Global Edition

Oil extends gains on US-Iran tensions, stocks retreat

  • "Oil is extending its gains, with Brent crude back above $70 a barrel... as fears of a military confrontation between the US and Iran rattled energy markets," said Matt Britzman, senior equity analyst at Hargreaves Lansdown.
  • Oil prices rose to multi-month highs while global stocks mostly retreated as markets weighed sharpening rhetoric from President Donald Trump on Iran suggesting a military strike was more likely.
  • "Oil is extending its gains, with Brent crude back above $70 a barrel... as fears of a military confrontation between the US and Iran rattled energy markets," said Matt Britzman, senior equity analyst at Hargreaves Lansdown.
Oil prices rose to multi-month highs while global stocks mostly retreated as markets weighed sharpening rhetoric from President Donald Trump on Iran suggesting a military strike was more likely.
Brent oil futures finished up nearly two percent at $71.66 a barrel after earlier reaching its highest level since July.
"Oil is extending its gains, with Brent crude back above $70 a barrel... as fears of a military confrontation between the US and Iran rattled energy markets," said Matt Britzman, senior equity analyst at Hargreaves Lansdown.
"Nuclear talks between the two sides appear to be going nowhere fast, and the geopolitical premium is clearly back in play," he added.
Worries about Iran also dogged Wall Street, where major indices struggled in the red throughout the day.
"It seems like markets are getting more nervous about a potential strike on Iran," said Art Hogan of B. Riley Wealth Management.
Shares of Walmart veered in and out of positive territory after the retail giant reported solid earnings but offered profit forecasts below analyst expectations. Walmart, which topped $1 trillion in market valuation earlier in the month, finished slightly below that level after ending the day down 1.4 percent.
Major European indices finished the day lower, with shares in plane maker Airbus down 7.2 percent in Paris after its annual results fell short of analysts' expectations. 
Shares in French carmaker Renault fell 3.1 percent in Paris after it posted higher 2025 sales but warned of slipping profit margins from increased sales of electric and hybrid vehicles.
In London, disappointing earnings from mining giant Rio Tinto and energy group Centrica weighed on the blue-chip FTSE 100 index.
In Asia, Seoul's Kospi led gains, jumping more than three percent to a record high as it reopened after the Lunar New Year break, with chip giants Samsung and SK hynix once again the standout performers.
Tokyo also advanced while Hong Kong, Shanghai and Taipei remained closed for the Lunar New Year holiday. 
Asian stocks are enjoying a strong start to the year as investors turn to the region's relatively cheaper tech plays after Wall Street's AI-fueled surge over the past two years.

Key figures at around 2115 GMT

Brent North Sea Crude: UP 1.9 percent at $71.66 per barrel
West Texas Intermediate: UP 1.9 percent at $66.43 per barrel
New York - Dow: DOWN 0.5 percent at 49,395.16 (close)
New York - S&P 500: DOWN 0.3 percent at 6,861.89 (close)
New York - Nasdaq Composite: DOWN 0.3 percent at 22,682.73 (close)
London - FTSE 100: DOWN 0.6 percent at 10,627.04 (close)
Paris - CAC 40: DOWN 0.4 percent at 8,398.78 (close)
Frankfurt - DAX: DOWN 0.9 percent at 25,043.57 (close)
Tokyo - Nikkei 225: UP 0.6 percent at 57,598.83 (close)
Hong Kong - Hang Seng Index: Closed for holiday
Shanghai - Composite: Closed for holiday
Euro/dollar: DOWN at $1.1767 from $1.1783 on Wednesday
Pound/dollar: DOWN at $1.3458 from $1.3495
Euro/pound: UP at 87.43 pence from 87.31 pence
Dollar/yen: UP at 155.07 yen from 154.81 yen
burs-jmb/msp