May 302025
 
 May 30, 2025  Posted by at 10:31 am Finance Tagged with: , , , , ,  45 Responses »


Pablo Picasso Self portrait 1940

 

 

A lot goes wrong, a few things are alright. Day by day,

 

 

https://twitter.com/OCOCReport/status/1928224845516460226

 

 

Yes no no yes no yes no yes.

US Court Blocks Trump’s Tariffs (RT)

The US Court of International Trade has ruled that President Donald Trump has no right to impose sweeping tariffs on imports under the 1977 International Emergency Economic Powers Act (IEEPA). By invoking the legislation, the White House bypassed the need for congressional approval that would otherwise have been required to take such steps. In early April, the US president slapped a baseline 10% tariff on all imported goods, with higher rates for China, Mexico, Canada and the EU member states, citing trade imbalances. Trump has since suspended some of those measures amid ongoing negotiations. On Wednesday, the New York-based court sided with a number of small businesses that had filed lawsuits against Trump, arguing that he had overstepped his authority.

According to a statement issued by the court and quoted by US media, “the Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs.” However, the ruling does not affect any tariffs that Trump has imposed under different legislation, namely, Section 232 powers from the Trade Expansion Act of 1962. This means that his 25% tariff on imported autos and parts as well as on all foreign-made steel and aluminum will remain in place. The court ruling has noted that the US president could still slap a 15% tariff on countries with which Washington has a substantial trade deficit for 150 days, with Section 122 of the Trade Act of 1974 granting Trump the right to do so.

The White House has filed an appeal, with US media suggesting that the US Supreme Court will likely be asked to settle the matter. In a post on X on Thursday, Stephen Miller, who serves as the White House deputy chief of staff for policy and as homeland security advisor, described the court’s decision as a “judicial coup” that has gotten “out of control.” There is a total of at least seven lawsuits, which argue that the IEEPA legislation does not authorize the use of tariffs, and that the trade deficit cited by Trump does not constitute an emergency as the US has run it for 49 consecutive years. Multiple states led by Oregon have filed similar lawsuits.

Trump has repeatedly claimed that the global trade system in its current form has left the US “looted, pillaged, raped and plundered” by other nations. The Republican has also insisted that sweeping tariffs will help to bring manufacturing jobs back to the US.

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Yes.

Court Allows Trump’s Tariffs to Stay in Place

A federal appeals court has overruled an activist decision from earlier this week to allow President Donald Trump’s tariffs to stay in place — at least for now. Only yesterday, the U.S. Court of International Trade ruled unanimously that Donald Trump‘s tariffs on dozens of countries had to be lifted. But that ruling has already been negated by a new court decision, fortunately. Isn’t it amazing how Trump‘s policies aimed at benefiting America are constantly being attacked by judges who didn’t give a hoot when the Biden administration repeatedly and egregiously violated the Constitution and other laws? At least this new decision makes sense. The Trump White House said in comments to Fox Business that the new ruling is definitely a win for Americans. “The Federal Circuit Court’s administrative stay on the Court of International Trade’s ruling is a positive development for America’s industries and workers,” stated White House spokesperson Kush Desai.

He added, “The Trump administration remains committed to addressing our country’s national emergencies of drug trafficking and historic trade deficits with every legal authority conferred to the President in the Constitution and by Congress. Regardless of the developments of this litigation, the President will continue to use all tools at his disposal to advance trade policy that works for all Americans.”For Our VIPs: The Education Department, Intellectual Silliness, and the Demise of Our Schooling. Fox Business provided more details, clarifying that the new decision delays rather than permanently overrules the previous decision:

In its decision, the U.S. Court of Appeals for the Federal Circuit granted an immediate administrative state to the extent that permanent injunctions entered by the Court of International Trade on Wednesday are temporarily stayed until at least June 9. After June 9, the court can issue an order of enforcement. The decision states: “The plaintiffs-appellees are directed to respond to the United States’s motions for a stay no later than June 5, 2025. The United States may file a single, consolidated reply in support no later than June 9, 2025.” Hopefully, another court will step in before June 9 to ensure the tariffs can stay in place.

What should be happening right now is that Congress should be working to ensure lots of spending cuts while the tariffs bring in more money to help cover the remaining costs that have already created over $36 trillion in national debt. But unfortunately, much of the judiciary seems hell-bent on helping Democrats destroy our republic.

The previous decision, now temporarily blocked, asserted that the executive has no power to impose tariffs. “The court holds for the foregoing reasons that IEEPA does not authorize any of the Worldwide, Retaliatory, or Trafficking Tariff Orders. The Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs,” the judges’ panel wrote. “The Trafficking Tariffs fail because they do not deal with the threats set forth in those orders.” Since Congress has delegated certain tariff powers to the executive branch, the court was being deceptive when it claimed that Trump did not have legal power to impose the tariffs. But a weaponized judiciary doesn’t care about legal reality; it cares about political ideology.

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Merz has himself to prove.

How to start a war with Russia in these easy steps: Just ask Merz’s Germany (RT)

If in a dark hole, dig deeper, especially even deeper than feckless German ex-chancellor Olaf Scholz. That seems to be Berlin’s new motto. Under Friedrich Merz’s new mis-management, the German government is clearly setting out to worsen its current abysmal non-relationship with Russia. That is a sadly ambitious aim, because things are already more dire than they’ve been at any point since 1945. But Merz and his team, it seems, are not satisfied with playing a key role in fighting a proxy war against Russia that has been a ruinous fiasco; not for the Russian economy, but for Germany’s. Even by February 2023, German mainstream media reported that the war had sliced 2.5 percent off GDP.

That, by the way, is a large figure in and of itself, but consider that between 2022 and 2024 Germany’s annual GDP growth (or, really, reduction) rate has varied between -0.3 percent (2023) and +1.4 percent, and it looks even worse.

And yet, instead of sincerely – and finally – trying to use diplomacy to end this war against Russia via Ukraine, Merz’s Berlin is now taking the risk of escalating the current mess into the nightmare of a direct military clash between Russia and Germany (and, hence, presumably NATO – though not necessarily including the US any longer). Such a confrontation would be devastating in a manner that Germans have not experienced for a long time, as even a recent German TV documentary had to admit, despite its obvious purpose to boost the country’s current re-militarization-on-steroids.

The single most obvious symbol of Berlin’s new, industrial-strength recklessness is the Taurus cruise missile, a sophisticated, very expensive weapon (at €1-3 million each) with a full name you will want to forget (Target Adaptive Unitary and Dispenser Robotic Ubiquity System) and, crucially, a maximum range of about 500 kilometers.

The government under Scholz, breathtakingly incompetent and shamelessly submissive to the US as it was, never agreed to let Ukraine have this weapon. For, in essence, two reasons: The Taurus, once in Ukraine, could fire deep into Russia, even as far as Moscow, and it is undeniable that it can only be operated with direct German help, which would bring about a state of war between Moscow and Berlin. Merz, however, has created a vague yet substantial impression that delivering the Taurus to Kiev is an option again.

Throughout this war – and its prehistory, too – Russia has been sending clear warnings about what such a war might entail: According to Russian Foreign Minister Lavrov, for instance, Germany is “already directly engaging” in the Ukraine War. But clearly, he, too, sees room for things to get much worse again, with, in his words, Germany “sliding down the same slippery slope it has already treaded a couple of times just this past century – down to its collapse.”

Dmitry Peskov, spokesman of President Vladimir Putin, has underlined that Merz’s statements, muddled as they were, pointed to a “serious escalation.” Less diplomatically, the head of Russia’s RT, Margarita Simonyan, has explained that German-Ukrainian Taurus strikes on Russian cities could provoke a Russian missile strike on Berlin. An important Russian military expert, meanwhile, has mentioned the possibility of a strike against Taurus production facilities in Germany.

Are these warnings any help? Of course, German politicians would not openly admit to being successfully deterred by Moscow, but it is a fact that Merz has abstained from following through on his implied threat of transferring the Taurus to Ukraine.

If he had wanted to do so, the visit of Ukraine’s leader Vladimir Zelensky in Berlin would have provided an excellent opportunity to close the deal. Yet, instead of the hotly desired cruise missiles, Zelensky has received something else: a demonstrative use of the German informal you (“du”), plenty of money (again), and a promise that Germany will help build long-range weapons in Ukraine. Considering that Moscow has just demonstrated its ability to strike such production facilities anywhere in Ukraine, that promise is the equivalent of a cop-out. For now at least.

That is a good thing. It avoids an immediate, extremely dangerous escalation. Yet Merz and his experts are naïve if they believe that there will be no Russian response to their declared intention to transfer German know-how to Ukraine so that long-range weapons can be made there.

For one thing, Moscow has just demonstrated its ability to strike Ukraine’s military industry. At the same time, even the Taurus is by no means off the table. Neither are Russian warnings about the catastrophic consequences of its use. The Russian Defense Ministry is confident that its air defenses could stop Taurus strikes, but also emphasizes that its special ability to fly far into Russia constitutes a problem in a class all by itself.

What is the new Berlin even trying to do here? Negotiations to end the war are ongoing, even if Merz claims the opposite. Russia is not, as he repeats, merely “playing for time.” In reality, the second round of the Istanbul 2.0 talks is now scheduled to go ahead, at least as far as Moscow is concerned.

The real problem for Western politicians like Merz is that Moscow is not willing to abandon its own interests or comply with unilateral demands backed up by threats.

Indeed, if a plausible Reuters report based on leaks is correct, Putin has outlined Russia’s conditions for a realistic settlement once again: unsurprisingly, they include a complete stop to NATO expansion, an at least partial end to sanctions against Russia and to attempts to fully seize frozen Russian sovereign assets, the genuine neutrality of Ukraine, and protection for its Russian-speakers.

Against this background, Merz’s recent sallies are only more puzzling: Russia is not weak but winning this war. A summer offensive may be close and make Ukraine’s situation even more untenable. But there also is a genuine opportunity to exploit negotiations that have been restarted so as to finally limit the losses to both Ukraine and the West.

Meanwhile, the reluctance of the US to reliably back up a hard course against Russia could permit the NATO-EU Europeans to explore constructive alternatives to the ongoing proxy war. Indeed, it should be their worst nightmare to be left alone with this conflict if Moscow and Washington should break through to a full détente.

The German economy will not thrive – even with a hail-Mary boost of debt-based military Keynesianism, as now launched by Merz – unless its relationship with Russia is reframed. Last but not least, Ukraine will not be rebuilt before there is a durable peace.

And Berlin’s response to all of the above? More of the same, but worse. Now, with the Taurus back on the options menu and open announcements to help Ukraine build, in essence, its own version of it, presumably under intense German coaching and packed with German technology, Kiev’s chances are not better and Germany’s position is more precarious. The probability of an escalation into a direct Russian-German war remains even higher than before Merz’s new initiative, and the probability of peace has been reduced. Call it a lose-lose.

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US Court Blocks Trump’s Tariffs (RT)

The US Court of International Trade has ruled that President Donald Trump has no right to impose sweeping tariffs on imports under the 1977 International Emergency Economic Powers Act (IEEPA). By invoking the legislation, the White House bypassed the need for congressional approval that would otherwise have been required to take such steps.

In early April, the US president slapped a baseline 10% tariff on all imported goods, with higher rates for China, Mexico, Canada and the EU member states, citing trade imbalances. Trump has since suspended some of those measures amid ongoing negotiations. On Wednesday, the New York-based court sided with a number of small businesses that had filed lawsuits against Trump, arguing that he had overstepped his authority. According to a statement issued by the court and quoted by US media, “the Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs.”

However, the ruling does not affect any tariffs that Trump has imposed under different legislation, namely, Section 232 powers from the Trade Expansion Act of 1962. This means that his 25% tariff on imported autos and parts as well as on all foreign-made steel and aluminum will remain in place.The court ruling has noted that the US president could still slap a 15% tariff on countries with which Washington has a substantial trade deficit for 150 days, with Section 122 of the Trade Act of 1974 granting Trump the right to do so.The White House has filed an appeal, with US media suggesting that the US Supreme Court will likely be asked to settle the matter.In a post on X on Thursday, Stephen Miller, who serves as the White House deputy chief of staff for policy and as homeland security advisor, described the court’s decision as a “judicial coup” that has gotten “out of control.”

There is a total of at least seven lawsuits, which argue that the IEEPA legislation does not authorize the use of tariffs, and that the trade deficit cited by Trump does not constitute an emergency as the US has run it for 49 consecutive years. Multiple states led by Oregon have filed similar lawsuits. Trump has repeatedly claimed that the global trade system in its current form has left the US “looted, pillaged, raped and plundered” by other nations. The Republican has also insisted that sweeping tariffs will help to bring manufacturing jobs back to the US.”>

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Ukraine Needed Western Help To Target Putin’s Helicopter – Scott Ritter (RT)

Ukraine must have relied on assistance from the West if it did in fact target a helicopter carrying Russian President Vladimir Putin last week, former US Marine Corps intelligence officer and UN weapons inspector Scott Ritter has told RT. Russian air defense division commander Yury Dashkin told the Russia 1 channel last week that Putin’s helicopter had been caught in the “epicenter” of a massive Ukrainian drone attack during a visit to Kursk Region on May 20. The intensity of aerial incursions “increased significantly” when the president was in the air, with 46 incoming fixed-wing UAVs being shot down in the area, he said. In an interview with RT on Wednesday, Ritter stressed that “if the Ukrainians drones actually targeted the Russian president, they did not do so in a vacuum… there would have been assistance provided by the West, which means that the West is targeting the Russian president.”

“If you read the Russian nuclear doctrine, this is a trigger for Russian nuclear retaliation or preemptive strikes. So, who is playing with fire here? It is not Vladimir Putin who is playing with fire. It is Ukraine and the West that are playing with fire,” he added. The former US Marine Corps major was referring to a comment by US President Donald Trump, who claimed earlier this week that Putin was “playing with fire.”The statement by Trump followed large-scale Russian strikes against Ukrainian military infrastructure, which Moscow said were retaliation for the intensification of drone attacks by Kiev on civilian targets inside Russia. According to the Defense Ministry in Moscow, more than 2,300 Ukrainian UAVs have been intercepted over the past week above Russian territory, mostly away from the front line.

Ritter expressed concern that there is a split in the US administration between opponents of Russia and those who are in favor of improving ties with Moscow. But at the same time, representatives of both camps and Trump himself are no experts on Russia, he added. The US president “is a victim of basically the last words whispered into his ear before he goes to bed at night or the first words whispered into his ear when he wakes up in the morning… Trump is not well briefed [on Russia]. Look, this is a very dangerous situation,” Ritter warned.

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And the beat goes on.

Elon Musk Leaves White House But Says Doge Will Continue (BBC)

Elon Musk has said he is leaving the Trump administration after helping lead a tumultuous drive to shrink the size of US government that saw thousands of federal jobs axed. In a post on his social media platform X, the world’s richest man thanked Trump for the opportunity to help run the Department of Government Efficiency, known as Doge.The White House began “offboarding” Musk as a special government employee on Wednesday night, the BBC understands. His role was temporary and his exit is not unexpected, but it comes a day after Musk criticised the legislative centrepiece of Trump’s agenda. “As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,” Musk wrote on X.

“The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.” The South African-born tech tycoon had been designated as a “special government employee” – allowing him to work a federal job for 130 days each year. Measured from Trump’s inauguration on 20 January, he would hit that limit towards the end of May. But his departure comes a day after he said he was “disappointed” with Trump’s budget bill, which proposes multi-trillion dollar tax breaks and a boost to defence spending. The SpaceX and Tesla boss said in an interview with BBC’s US partner CBS that the “big, beautiful bill”, as Trump calls it, would increase the federal deficit. Musk also said he thought it “undermines the work” of Doge.

“I think a bill can be big or it could be beautiful,” Musk said. “But I don’t know if it could be both.” Musk, who had clashed in private with some Trump cabinet-level officials, initially pledged to cut “at least $2 trillion” from the federal government budget, before halving this target, then reducing it to $150bn. An estimated 260,000 out of the 2.3 million-strong federal civilian workforce have had their jobs cut or accepted redundancy deals as a result of Doge. In some cases, federal judges blocked the mass firings and ordered terminated employees to be reinstated. The rapid-fire approach to cutting the federal workforce occasionally led to some workers mistakenly being let go, including staff at the US nuclear programme. Musk announced in late April that he would step back to run his companies again after becoming a lightning rod for criticism of Trump’s efforts to shake up Washington.

“Doge is just becoming the whipping boy for everything,” Musk told the Washington Post in Texas on Tuesday ahead of a Space X launch. “Something bad would happen anywhere, and we would get blamed for it even if we had nothing to do with it.” Musk’s time in government overlapped with a significant decline in sales at his electric car company. Tesla sales dropped by 13% in the first three months of this year, the largest drop in deliveries in its history. The company’s stock price also tumbled by as much as 45%, but has mostly rebounded and is only down 10%. Tesla recently warned investors that the financial pain could continue, declining to offer a growth forecast while saying “changing political sentiment” could meaningfully hurt demand for the vehicles.

Musk told investors on an earnings call last month that the time he allocates to Doge “will drop significantly” and that he would be “allocating far more of my time to Tesla”. Activists have called for Tesla boycotts, staging protests outside Tesla dealerships, and vandalising the vehicles and charging stations. The Tesla blowback became so violent and widespread that US Attorney General Pam Bondi warned her office would treat acts of vandalism as “domestic terrorism”. Speaking at an economic forum in Doha, Qatar, on Tuesday, Musk said he was committed to being the leader of Tesla for the next five years. He said earlier this month he would cut back his political donations after spending nearly $300m to back Trump’s presidential campaign and other Republicans last year.

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They will agree because they want to.

A Bill Can Be Big Or It Could Be Beautiful (ZH)

The trade negotiations between the US and China have “stalled” and may necessitate the intervention of the countries’ leaders, US Treasury Secretary Scott Bessent has said. In April, US President Donald Trump raised duties on Chinese goods to as high as 145%, citing what he described as an unfair trade imbalance. Beijing responded by hiking its own tariffs to 125%. Earlier this month, the two countries agreed to roll back or suspend most of the new duties for 90 days, pending further negotiations. Asked by Fox News’ Bret Baier on Thursday to describe the current state of the talks, Bessent said, “I would say that they are a bit stalled.”

The treasury secretary added that more negotiations were scheduled for the coming weeks and that Trump could possibly speak by phone with Chinese President Xi Jinping in the near future. “Given the magnitude and complexity of the talks, this is going to require both leaders to weigh in with each other. They have a very good relationship. I am confident that the Chinese will come to the table,” Bessent said.

On Thursday, the US Court of Appeals for the Federal Circuit overruled the suspension of tariffs ordered a day earlier by the Court of International Trade. The tariffs will remain in place until at least June 9. Bessent argued that it was “highly inappropriate” for the courts to interfere with the tariffs, given that the US Senate had declined to block Trump’s trade policies. “The president absolutely has the right to set the trade agenda for the US,” Bessent said. “Anything that the courts do to get in the way harms the American people – both in terms of trade and lost tariff revenue.”

China has condemned Trump’s tariffs as a tool to “advance US hegemonic ambitions at the cost of the legitimate interests of all countries.” “Tariff wars and trade wars have no winners. Protectionism harms the interests of all parties and is ultimately unpopular,” Chinese Foreign Ministry spokeswoman Mao Ning said on Thursday.

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“This is the end of the common European project. This is a departure from democracy. This is the precursor of a huge military conflict,”

Fico Warns EU’s ‘Mandatory Political Opinion’ Spells Ends European Project (RMX)

Slovak Prime Minister Robert Fico delivered a stark warning to fellow European leaders during his speech at CPAC Hungary in Budapest on Thursday, declaring that the European Union’s attempt to impose a “mandatory political opinion” on its member states signals the collapse of the European project and a departure from democratic values.“The imposition of a mandatory political opinion, the abolition of the veto, the punishment of the sovereign and the brave, the new Iron Curtain, the preference for war over peace. This is the end of the common European project. This is a departure from democracy. This is the precursor of a huge military conflict,” he warned.Fico’s remarks came as he revealed both he and Hungarian Prime Minister Viktor Orbán had received threats from “a particularly nervous new German chancellor,” who warned them that if they did not fall in line with Brussels’ uniform view on military support for Ukraine and sanctioning Russia, “‘You will be punished.’”

“No one in a peaceful and democratic project should have the right to treat other EU member states in this way, regardless of their size and economic strength,” he said. Fico, a veteran of Slovak politics who survived an assassination attempt last year, framed his overall remarks as a defense of national sovereignty in the face of what he described as increasing aggression from Brussels and major EU powers. “I do not want to see our sovereignty and the national identity melt away in the generalist supranational, international structures, especially those in Brussels,” he said.While acknowledging his left-wing roots, Fico distanced himself from what he called the “Brussels kind” of social democracy, instead describing himself as a “rural socialist” focused on defending Slovakia’s traditions, Christian heritage, and national interests. “As a strong leftist, I have no problem spending the night with the people on the production line to support higher night shift allowances or wage increases,” he said.

Fico’s appearance at CPAC Hungary — and his warm praise for host Viktor Orbán — highlighted the growing alignment between parts of Europe’s left-wing populism and the nationalist right in opposition to Brussels orthodoxy. The Slovak prime minister repeatedly returned to the idea that the EU is moving away from its founding principles. He warned against abolishing the veto rights of member states and moving toward qualified majority voting on key issues such as foreign policy and defense, which he said would further erode national sovereignty.“We may have to expect unprecedented decisions such as, for example, the abolition of the right of veto of EU member states,” he said. “The time may indeed come when there will be punishments for having a sovereign opinion.”

On Ukraine, Fico reiterated his government’s refusal to send military aid, criticizing the European Commission’s strategy of isolating Russia as economically self-defeating and geopolitically reckless. “If they have no realistic response to the war in Ukraine today… they cannot continue in their nervousness by suppressing the sovereignty of individual member states on legitimate issues.” He ended his speech with a call to preserve diversity and sovereign decision-making within the EU. “Let our diversity, sovereignty, and national identity be our strength and not weakness,” he said.

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It can wait a few weeks.

US-Chinese Trade Talks ‘Stalled’ – Treasury Secretary (RT)

The trade negotiations between the US and China have “stalled” and may necessitate the intervention of the countries’ leaders, US Treasury Secretary Scott Bessent has said. In April, US President Donald Trump raised duties on Chinese goods to as high as 145%, citing what he described as an unfair trade imbalance. Beijing responded by hiking its own tariffs to 125%. Earlier this month, the two countries agreed to roll back or suspend most of the new duties for 90 days, pending further negotiations. Asked by Fox News’ Bret Baier on Thursday to describe the current state of the talks, Bessent said, “I would say that they are a bit stalled.” The treasury secretary added that more negotiations were scheduled for the coming weeks and that Trump could possibly speak by phone with Chinese President Xi Jinping in the near future.

“Given the magnitude and complexity of the talks, this is going to require both leaders to weigh in with each other. They have a very good relationship. I am confident that the Chinese will come to the table,” Bessent said. On Thursday, the US Court of Appeals for the Federal Circuit overruled the suspension of tariffs ordered a day earlier by the Court of International Trade. The tariffs will remain in place until at least June 9. Bessent argued that it was “highly inappropriate” for the courts to interfere with the tariffs, given that the US Senate had declined to block Trump’s trade policies. “The president absolutely has the right to set the trade agenda for the US,” Bessent said. “Anything that the courts do to get in the way harms the American people – both in terms of trade and lost tariff revenue.”

China has condemned Trump’s tariffs as a tool to “advance US hegemonic ambitions at the cost of the legitimate interests of all countries.” “Tariff wars and trade wars have no winners. Protectionism harms the interests of all parties and is ultimately unpopular,” Chinese Foreign Ministry spokeswoman Mao Ning said on Thursday.

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Witkoff.

Israel and Hamas Agree To Gaza Ceasefire Proposal (RT)

Israel and Hamas have agreed to accept the latest ceasefire proposal put forward by the US, several media outlets reported on Thursday sraeli Prime Minister Benjamin Netanyahu has signaled his readiness to accept a roadmap presented by US special envoy Steve Witkoff during a meeting with the relatives of hostages still in Hamas captivity in Gaza. Arab media later reported that Hamas had also accepted the deal to release the remaining Israeli hostages held in the enclave in exchange for a temporary truce. Haaretz newspaper quoted an anonymous Israeli official as saying that Washington’s proposal envisages the release of the remaining 10 living hostages and the return of 18 bodies held in Gaza by Hamas over the course of a week. In exchange, Netanyahu’s government would reportedly agree to a 60-day cease-fire.

The Jerusalem Post cited an unnamed source as saying that Hamas has reservations regarding Washington’s plan, and sees it as favoring Israel. The Islamist militant group is reportedly wary of the fact that the US would not provide a guarantee that the temporary 60-day ceasefire would be extended to become permanent. The latest developments have come amid an intensified Israeli assault on Gaza in recent days, including a fresh wave of airstrikes and a major ground offensive codenamed ‘Operation Gideon’s Chariots.’Netanyahu has repeatedly insisted that the military action will not cease until Hamas has been totally vanquished.

Mediated by Qatar, Egypt, and the US, negotiations between the two belligerents have been going on for some time in Doha, albeit producing little progress so far.The current escalation began in October 2023, when Hamas launched a surprise attack on Israel, killing around 1,200 people and abducting 250 more. According to Palestinian authorities, the ensuing IDF military campaign has claimed the lives of more than 50,000 residents of the densely populated enclave.

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