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US Launches Trade Probe Into Major Global Partners

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The United States has launched a new investigation into several major trading partners, including China, European Union and India, following a court ruling that struck down part of former tariff policies introduced by Donald Trump. The probe, announced by US Trade Representative Jamieson Greer, will examine alleged unfair trade practices and could lead to new import taxes on goods from the targeted countries. Officials said the investigation could be completed by summer.

The inquiry is being carried out under Section 301 of US trade law and covers a wide range of economies including Japan, South Korea, Mexico, Vietnam and Bangladesh. The administration argues the move is necessary to protect American manufacturing from what it calls excess production and unfair competition from overseas markets. Notably, Canada, the second-largest US trading partner, was not included in the probe.

The investigation follows a ruling by the Supreme Court of the United States that found earlier global tariffs introduced in 2025 unlawful. After the decision, Trump imposed a temporary 10% tariff on imports worldwide and signalled it could rise to 15%. The probe also comes ahead of expected talks between US officials and representatives from China in Paris, which may pave the way for a meeting between Trump and Chinese President Xi Jinping later this month.

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Iran Warns EU Nations Over Possible Military Involvement

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Iran has warned that any European Union country joining military attacks by the United States and Israel would be considered a “legitimate target” for retaliation. Iran’s Deputy Foreign Minister Majid Takht-Ravanchi made the statement during an interview with France 24, stressing that countries supporting the aggression would face direct consequences from Iran.

His comments come as tensions continue to escalate in the Middle East. Several EU nations, including France, Greece, and Italy, have deployed warships to the region. While many European leaders have criticized Iranian actions, they have also called for de-escalation and a diplomatic resolution to the conflict.

Meanwhile, German Chancellor Friedrich Merz said Germany is working with international partners to find ways to end the fighting. However, he noted that Berlin shares strategic goals with the United States and Israel regarding the situation with Iran.

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AI Boost No Cure-All for Soaring Public Debt

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An artificial intelligence-driven productivity surge could ease pressure on debt-laden advanced economies, but economists caution it will not solve deep-rooted fiscal challenges. With public debt already exceeding 100% of GDP across most wealthy nations and projected to climb further due to ageing populations, defence spending and climate costs, AI-fuelled growth may only buy governments time rather than repair strained public finances.

Early estimates shared by the Organisation for Economic Co-operation and Development suggest that stronger productivity and employment gains from AI could reduce debt levels across member economies by about 10 percentage points from projected levels by 2036. In the United States, some economists see debt rising more slowly — to around 120% of GDP over the next decade — if AI meaningfully lifts growth and tax revenues. However, ratings agency S&P Global Ratings is not yet factoring in a major improvement in public finances.

Demographics remain the biggest constraint. Ageing populations and entitlement spending continue to drive debt higher, and uncertainty surrounds whether AI-led gains will translate into higher wages, employment and tax revenues. Economists warn that without fiscal discipline, even a sustained productivity boom may not offset mounting borrowing costs or prevent market pressure if growth disappoints.

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Germany Considers More F-35 Jets as European Fighter Project Stalls

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Germany is considering purchasing additional F-35 fighter jets from Lockheed Martin, potentially expanding its fleet beyond the 35 aircraft ordered in 2022. Sources said Berlin is in talks that could lead to buying more than 35 additional jets, which would significantly increase its reliance on U.S. military technology. Each aircraft costs over $80 million, and deliveries from the earlier order are expected to begin later this year.

The move comes as Germany and France face growing uncertainty over their joint Future Combat Air System (FCAS), a €100-billion program launched in 2017 to develop a next-generation fighter jet by 2040. Disagreements and delays have raised the possibility that the project could be abandoned. German officials, including Chancellor Friedrich Merz, have also questioned whether investing heavily in a new manned fighter jet remains practical given evolving military technology.

Expanding Germany’s F-35 fleet would mark a strategic shift toward closer defense integration with the United States and strengthen its role within NATO’s nuclear deterrence framework. The F-35 is currently the only Western aircraft certified to carry modern B61 nuclear bombs, making it essential for replacing Germany’s aging Tornado jets. While the future of the FCAS program remains uncertain, Germany and France are expected to continue cooperating on other defense areas such as drones and digital warfare systems.

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Pope Leo Urges Russia and US to Renew New START Treaty

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Pope Leo XIV called on Russia and the United States to extend the New START nuclear arms control treaty, which limits the number of strategic nuclear weapons deployed by each country. Speaking at his weekly audience at the Vatican, the pope emphasized that the current global situation “calls for doing everything possible to avert a new arms race.”

Signed in 2010, the treaty is set to expire on Thursday. Russian President Vladimir Putin proposed an informal one-year extension in September, but as of Wednesday, U.S. President Donald Trump had not responded, raising concerns about the potential lapse of the agreement.

The pope described the renewal as urgent, stressing the need to replace “the logic of fear and distrust with a shared ethic” that prioritizes the common good. Letting the treaty expire would mark the end of over 50 years of nuclear weapons constraints, a significant step in global arms control.

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Germany Says It Will Remain Closer to U.S. Than China Despite Strains

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Germany will remain closer to the United States than to China, despite recent tensions in transatlantic relations, Foreign Minister Johann Wadephul said on Monday. Speaking in Singapore, Wadephul stressed that Germany is “not in equidistance” between Washington and Beijing, adding that the U.S. continues to be Europe’s most important partner, particularly when it comes to security.

He acknowledged growing friction with Washington, including criticism from the Trump administration over Europe’s defence spending and reliance on U.S. military support. However, Wadephul warned against turning to China as an alternative, saying it would be the “wrong answer” for Europe to assume that closer ties with Beijing could replace the U.S. relationship, even as some Western countries pursue new trade deals with China.

Wadephul said Europe’s firm and united response to U.S. claims over Greenland showed the continent could defend its interests by clearly defining red lines. He also highlighted the European Union’s expanding network of free trade agreements as a key pillar of rules-based global trade and said the bloc is moving quickly to finalise new deals in the Asia-Pacific region, including with Malaysia, Thailand, the Philippines and Australia.

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EU Leaders Reassess U.S. Relationship After Trump’s Greenland U-Turn

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European Union leaders are reassessing their relationship with the United States after former President Donald Trump’s recent threats of tariffs and remarks about acquiring Greenland unsettled transatlantic trust. Although Trump later reversed his stance—ruling out military action and stepping back from proposed tariffs—EU diplomats say the episode has highlighted the unpredictability of U.S. policy and prompted calls for a more independent European strategy, particularly in defence and trade.

At an emergency summit in Brussels, EU leaders are expected to discuss reducing their reliance on the United States, especially within NATO, where Europe still depends heavily on U.S. intelligence, defence systems and logistics. The bloc is also economically exposed, as the U.S. remains its largest trading partner, leaving Europe vulnerable to sudden tariff threats. Diplomats stressed the need to define clear “red lines” and prepare responses should Washington again shift course.

Uncertainty also remains over the details of a proposed Greenland framework agreement discussed by Trump and NATO Secretary General Mark Rutte, including plans to increase Western presence in the Arctic. While Trump’s reversal eased immediate tensions, EU officials say the broader challenge persists: balancing efforts to keep the U.S. engaged while strengthening Europe’s own resilience, unity and long-term strategic autonomy.

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Ukraine Sends Delegation to US for Security Guarantees, Recovery Talks

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Ukraine has sent a high-level delegation to the United States for talks focused on security guarantees and a post-war recovery package, President Volodymyr Zelenskiy said on Friday. He expressed hope that the agreements could be finalised and signed on the sidelines of the World Economic Forum in Davos next week. The discussions come as Ukraine seeks firm commitments to prevent any future Russian aggression once the war ends.

Zelenskiy said Kyiv also wants greater clarity from Washington on Russia’s position toward U.S.-backed diplomatic efforts to end the nearly four-year conflict. While noting progress in negotiations with the U.S., he acknowledged differences on certain issues. Ukrainian officials estimate the country will need around $800 billion for post-war reconstruction, and Zelenskiy said Ukraine has completed its part of the work on a proposed “prosperity package” to unlock recovery funding.

Ukraine’s ambassador to the U.S., Olga Stefanishyna, said senior officials, including the head of the presidential office and top security leaders, will hold bilateral talks in Miami to refine the agreements. Zelenskiy accused Russia of stalling peace efforts, citing continued strikes on Ukraine’s energy infrastructure, and renewed calls for increased air defence support, warning that shortages of ammunition have already left parts of the power grid vulnerable.

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Denmark’s Greenland Dilemma as Independence Looms Amid U.S. Pressure

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Denmark is facing a complex geopolitical challenge as it defends Greenland at a time when the Arctic territory is steadily moving towards independence. While recent statements from the Trump administration that “all options are open” for taking control of Greenland have prompted strong European support for Copenhagen, the crisis highlights a paradox: Denmark is expending diplomatic capital to protect a territory whose population increasingly wants self-rule and whose political leaders are open to dealing directly with Washington.

Greenland’s strategic importance — sitting between Europe and North America and hosting key elements of the U.S. missile defence system — gives Denmark significant relevance in Arctic geopolitics. However, that leverage could disappear if Greenland chooses independence, a right formally recognised in 2009. Analysts warn Denmark could end up paying a high diplomatic and financial price to resist U.S. pressure, only to see Greenland eventually chart its own path. Trump’s renewed interest has also accelerated internal debates in Greenland, where all major parties favour independence, differing only on timing and method.

The issue also carries a heavy economic burden. Denmark provides substantial annual funding to Greenland and has announced major new Arctic defence spending, even as Greenland’s economy stagnates. Prime Minister Mette Frederiksen must balance domestic politics, alliance relations with the U.S., and international law, while acknowledging Greenlanders’ right to decide their future. As tensions rise, Denmark is left defending both its sovereignty and its credibility, amid growing uncertainty over how long the union with Greenland will last.

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Merz Urges Europe to Assert Its Interests to Protect Peace and Prosperity

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German Chancellor Friedrich Merz has called on Europe to assert its interests more forcefully to safeguard peace and prosperity in 2026, warning of mounting threats from Russian aggression, global protectionism and shifting relations with the United States. Speaking in his New Year’s address, Merz said the war in Ukraine posed a direct threat to Europe’s freedom and security, adding that Russia’s actions were part of a broader strategy targeting the entire continent.

Since taking office in May, Merz has played a key role in pushing European support for Ukraine and strengthening Germany’s defence posture. He said Germany now faces daily challenges including sabotage, espionage and cyberattacks, underscoring the need for greater resilience. Merz also highlighted economic risks from rising protectionism and Europe’s dependence on imported raw materials, which he said were increasingly being used as tools of political pressure.

Merz pointed to Germany’s struggle to revive its export-driven economy after two years of contraction, as Berlin seeks to reduce reliance on China while navigating global trade tensions and the impact of U.S. President Donald Trump’s tariff policies. Acknowledging a more difficult partnership with Washington since Trump’s return to office in 2025, Merz said Europe must rely more on itself, stressing that confidence, not fear, should guide the continent’s response as it works to renew long-standing peace, freedom and prosperity.

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