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Ecuador's President Daniel Noboa announced on Monday that his government will apply a 27% tariff on Mexican goods in an effort to promote fair treatment for his country's companies.

In a post on X, Noboa said he favors more exchange of goods with other countries, including a potential free trade deal with Mexico, "but not when there is abuse." Until there is such a deal, he added, the 27% duty will apply.
Last year, Ecuador and Mexico broke off diplomatic relations after Noboa ordered a raid on the Mexican embassy to arrest a former Ecuadorean vice president.

The South American nation is set to hold a first-round general election this Sunday, in which Noboa is running to remain in office.
Mexico's economy ministry, which handles trade policy, did not immediately respond to a request for comment.
Keji
1 day ago
U.S. Secretary of State Marco Rubio on Monday welcomed Panama's decision to let its participation in China's global infrastructure plan expire, calling the move "a great step forward" for its ties with the United States.

Any move by Panama to distance itself from Chinese President Xi Jinping's signature Belt and Road Initiative is a win for Washington, which has argued that Beijing uses the scheme for "debt trap diplomacy" to cement its global influence.

Rubio, his first overseas trip as the top U.S. diplomat under President Donald Trump to Panama, a close U.S. partner in Latin America, and pressured the country over its ties with China.
After talks with Rubio, Panama's President Jose Raul Mulino said his country's broad agreement to contribute to the Chinese initiative will not be renewed, and could be terminated early. He said the deal was set to expire in two to three years, but did not elaborate.
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1 day ago
A United Nations Security Council meeting in two weeks could be a "very good opportunity" for Chinese Foreign Minister Wang Yi and U.S. Secretary of State Marco Rubio to meet, China's U.N. envoy said on Monday, stressing the need for cooperation because "so much is at stake," while blasting Washington on tariffs.

China is president of the Security Council for February and China's U.N. Ambassador Fu Cong said Wang would chair a ministerial meeting of the 15-member body on Feb. 18 that would focus on multilateralism and improving global governance.
Rubio and Wang have spoken on phone.
"I do hope that despite all the rhetoric that we have heard from the American politicians, we can take a constructive and - I will emphasize - a professional approach in the United Nations," Fu said. "So much is at stake."
"We are firmly opposed to this unwarranted increase and we do believe that this is in violation of the WTO rules. So that's why China is filing a complaint at this WTO." Fu said.
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1 day ago
President Donald Trump on Monday indicated that he wants to reach an agreement with Ukraine to gain access to the country's rare earth materials as a condition for continuing U.S. support for its war against Russia.
Trump complained that the U.S. had sent more in military and economic assistance to Ukraine than its European partners, adding, “We’re looking to do a deal with Ukraine where they’re going to secure what we’re giving them with their rare earth and other things."

Trump suggested that he's received word from the Ukrainian government that they'd be willing to make a deal to give the U.S. access to the elements critical to the modern high-tech economy.
“I want to have security of rare earth,” Trump added. “We’re putting in hundreds of billions of dollars. They have great rare earth. And I want security of the rare earth, and they’re willing to do it.”
“We made a lot of progress on Russia, Ukraine," Trump said. "We’ll see what happens. We’re going to stop that ridiculous w
Keji
2 days ago
Noise makers are really busy since Trump won the election.
Rep. Jasmine Crockett (D-Texas) said at least some of her colleagues on the other side of the aisle aren’t fans of Elon Musk. The tech billionaire and close ally of President Donald Trump is already playing a key role in the new administration.

“Can I tell you that Republicans want to see Elon go down?” she told MSNBC’s Alex Witt on Sunday. “I can. Now, will they come out publicly and say that? No, because they’re concerned about whether or not he’ll spend money in their next elections.”

Crockett recalled December’s continuing resolution to keep the government funded through March. After Republican and Democratic lawmakers reached a deal, Musk tried to tank it via Twitter.

“There were Republicans that silently, or in the background, were cheering us on,” she recalled. “And saying ‘this is wrong.’ Like they knew we had negotiated, and all of a sudden, this guy who’s not elected makes a tweet on Twitter.”
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2 days ago
A car bomb exploded on the outskirts of a northern Syrian city on Monday, killing at least 19 people, all but one of them women, and leaving more than a dozen wounded, hospital workers said.
The car detonated next to a vehicle carrying mostly female agricultural workers on the outskirts of the city of Manbij.

The dead included 18 women and one man, a nurse at the hospital, Mohammad Ahmad, told The Associated Press. Another 15 women were wounded, some of them in critical condition, according to the local Syrian civil defense.

No group immediately claimed responsibility for the explosion.
It was the seventh car bomb explosion in Manbij in just over a month, said Munir Mustafa, the deputy director of civil defense.

Manbij in northeastern Aleppo province continues to witness violence even after the downfall of President Bashar Assad in December.
Turkish-backed factions, known as the Syrian National Army, have clashed with the U.S.-backed Kurdish-led Syrian Democratic Forces.
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2 days ago
Vladimir Putin is nervous. Almost three years into his war in Ukraine, the Russian president is increasingly concerned about the state of the economy.

The cost of borrowing has surged to painful levels, as interest rates of 21pc pile pressure on companies. The strain is such that Putin has reportedly been scolding officials over a drought in private investment.

Unsurprisingly, Russia’s oligarchs are squirming. Igor Sechin, the boss of Rosneft, and Oleg Deripaska, the billionaire aluminium magnate, are among those who have publicly criticised high interest rates.

Deripaska warned in 2023 that Russia could soon run out of money, and other senior officials are also beginning to ask themselves the same question.
The country’s wealth fund is being depleted, with the liquid portion of assets now down to just $38bn (£30bn), from roughly $100bn at the start of 2022.
Russia’s economic resilience has surprised many, signs of fragility are starting to emerge.
Keji
2 days ago
Denmark’s prime minister insisted on Monday that Greenland is not for sale and called for a robust response from her European Union partners should U.S. President Donald Trump press ahead with his threat to take control of the island.

“I will never support the idea of fighting allies. But of course, if the U.S. puts tough terms on Europe, we need a collective and robust response,” Danish Prime Minister.

Greenland, home to a large U.S. military base, is an autonomous territory of Denmark, a longtime U.S. ally. Last month, Trump left open the possibility that the American military might be used to secure Greenland, as well as the Panama Canal. “We need Greenland for national security purposes,” he said.

Frederiksen said she has “great support” from her EU partners on the fact “that everybody has to respect the sovereignty of all national states in the world, and that Greenland is today a part of the Kingdom of Denmark. It’s part of our territory and it’s not for sale.”
Keji
2 days ago
Shares of Japanese and South Korean car makers and their suppliers led declines in Asia on Monday, as exporters across the region were walloped by U.S. President Donald Trump's introduction of sweeping tariffs on Mexico, Canada and China.

The move by Trump, though widely expected, knocked some of the world's biggest manufacturers, as investors grappled with the prospect of weakening demand from the world's top economy and, more worryingly, the possibility of a downturn in global growth.
Automakers were the hardest hit. Many Japanese and South Korean car makers, and their suppliers, have operations in Mexico and have long exported cars made there to the United States.

Toyota, the world's top automaker, and smaller rival Nissan fell more than 5%. Honda tumbled more than 7%.
Nissan has two plants in Mexico, where it makes the Sentra, Versa and Kicks models for the U.S. market. It exports about 300,000 vehicles to the U.S. a year.

Honda sends 80% of its Mexican output to the U.S