On Tuesday, the United States implemented tariffs on all imports from its three largest trading partners, triggering a series of retaliations. The tariffs mainly affect Mexico and Canada, with rates of 25% and 10% respectively. Canada, in turn, will respond by imposing tariffs on U.S. products worth more than $100 billion, while Mexico will soon announce which U.S. products will be taxed in retaliation.
In an unprecedented move, the European Union has presented the "ReArm Europe" plan, which would allow member states to request loans totaling 150 billion euros to strengthen their defense capability and provide greater military support to Ukraine. This project aims to relax fiscal rules to increase defense spending and facilitate the acquisition of crucial military equipment.
In another event, Pope Francis is in stable condition after experiencing recent respiratory crises. Although his condition is considered stable, doctors are keeping a close watch on his health, and the pontiff continues to use supplemental oxygen to aid his recovery.
Meanwhile, China has responded to the increase in tariffs imposed by the U.S. by imposing its own 15% tariffs on a variety of U.S. exports. Trade tensions are escalating as both nations engage in a potential tariff war. In the meantime, the U.S. has doubled tariffs on Chinese products to 20%, triggering a series of trade and export restrictions by China.
In Serbia, a violent incident occurred in parliament that left at least three legislators injured, one in serious condition. The chaotic situation erupted due to opposition members considering the parliamentary session illegal and demanding the resignation of the prime minister and his government. This political crisis reflects social unrest in the country, marked by anti-corruption protests that have been ongoing for more than three months.
Finally, Egypt has proposed an ambitious reconstruction plan for the Gaza Strip, valued at $53 billion, excluding Hamas from any future government in the region. The initiative seeks to revitalize Gaza, clear unexploded ordnance, and remove debris from previous conflicts, as well as create new housing and sustainable urban areas. The goal is to rebuild the region without displacing its two million inhabitants.
