An intergovernmental body governing global trade rules since 1995
The European Commission has proposed extending free emissions permits and slowing the rate at which caps fall, extending some allowances to 2038 and allowing outside-EU carbon credits from 2036. The shift aims to cushion industry from energy shocks while keeping climate targets in view, triggering debate among member states and green groups.
The UN and world powers are pressing for governance reform as demand for critical minerals rises. Leaders warn that without local processing and stronger rule of law, mining profits will bypass local communities and fuel conflict. New commitments aim to channel wealth into public services and jobs amid a global scramble for cobalt, lithium, nickel and rare earths.
A coalition of 25 US states has filed suit in the US Court of International Trade to stop 10–12.5% tariffs that took effect in July on goods from about 60 trading partners. Plaintiffs say the administration has used forced‑labour claims to recreate broad levies courts have already struck down; the White House says the duties are lawful under Section 301.
Zelensky has visited Belgrade to meet President Vučić as Serbia balances Moscow ties with EU aims. Kyiv seeks logistics and energy cooperation, humanitarian aid, and a path toward EU membership, while Belgrade remains cautious on sanctions against Russia. Serbia pledges support for Ukraine’s resilience and studies a possible free-trade deal.
Canada and the United States have resumed intensive talks to avert steep US tariffs that could take effect this week. Ottawa has offered concessions, including removing a retaliatory auto tariff, while Washington has pressed provinces to lift bans on US alcohol and pushed demands on market access and content rules for autos. Negotiators are still finalising details.
Zhu Rongji has died in Beijing at 98. Xinhua confirms his death after medical treatment failed. He chaired China’s economy as premier from 1998 to 2003, steering reforms that liberalized markets, pushed state firms toward efficiency, and helped secure WTO membership. His tenure coincided with rapid growth and rising inequality, and his legacy is seen differently inside and outside China.
Liberia’s former vice president has denied involvement in a transnational cocaine-trafficking network. Police accuse her of meetings and payments linked to the operation; she has been detained, hospitalized for a medical emergency, and court appearances have been disrupted as the investigation broadens to include foreign suspects and multiple charges.
South Africa is experiencing intensified xenophobic protests and a large-scale migrant repatriation, with political and diplomatic tensions rising as regional governance faces scrutiny. The protests, repatriations, and international responses are shaping the country’s stability amid upcoming local elections.
Chinese President Xi Jinping has arrived in Cairo for a state visit, his first to Egypt in a decade, to mark 70 years of diplomatic ties and sign economic and security agreements. Talks with President Abdel Fattah el-Sisi will focus on Gaza, Red Sea shipping, the Nile dam dispute, AI and expanded Chinese investment in the Suez Canal zone.
Church's Texas Chicken opens first China location in Shanghai, drawing long lines and sparking a side hustle around queueing services. Official data show services spending outpacing goods as catering revenue rises, while McKinsey notes foreign firms must invest to stay relevant in China’s evolving market.
France has launched a levy targeting ultra-fast fashion firms including Shein and Temu as part of a June-backed bill to curb environmental and economic effects. The measure links charges to how much clothing retailers place on the market and the repair cost relative to item price, with per-item fees scaling up to 2030. France argues the policy tackles consumer excess and supply-chain concerns, while critics call it discriminatory and a potential trade barrier.
BRICS leaders gather in New Delhi amid tensions from the US–Iran war, amid broader global upheaval. The expanded bloc faces divisions over how to respond to Middle East conflicts, energy markets, and trade wars, while stressing a Global South-led reform agenda.
BRICS leaders have adopted the New Delhi Declaration, calling for maximum restraint in the Middle East, protection of civilians and nuclear facilities, and opposing unilateral trade measures. The statement has avoided naming the US, Israel or Iran and authorised a payments task force to ease local‑currency settlements among members.
UN leaders gather amid wars in Gaza, Ukraine, Sudan and conflicts in Iran and Myanmar. AI, climate change and inequality rise as central challenges. Reforms to the Security Council and global institutions are on the table, with Western arrears and veto power shaping the debate.
The Swedish left-wing bloc has secured a slim 176-seat majority following a tightly contested election. Prime Minister Ulf Kristersson has resigned, and Magdalena Andersson is exploring coalition options with the Left Party, Greens and Centre Party. The speaker will oversee subsequent talks to form a government within a tight timeframe.
G20 trade ministers in Milwaukee have failed to reach a consensus on countering overcapacity and forced labor, despite a US-led push. A Milwaukee framework on steel excess capacity has emerged, with data sharing and potential tariffs under consideration, while disagreements with China persist.