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Trump touts ‘progress’ in Japan trade talks, as uncertainty roils stocks

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Trump touts ‘progress’ in Japan trade talks, as uncertainty roils stocks

Wall Street closes sharply lower as US Federal Reserve chair warns tariffs could lead to slower growth, higher inflation.

United States President Donald Trump has touted “big progress” in trade talks with Japan after making an unexpected intervention in the negotiations, as uncertainty caused by his sweeping tariffs continues to roil stock markets.

Trump made his comments on Wednesday after making the surprise decision to sit in on negotiations between his administration and Japanese officials in Washington, DC.

“A Great Honor to have just met with the Japanese Delegation on Trade. Big Progress!” Trump wrote on Truth Social after the talks, which included US Treasury Secretary Scott Bessent, US Commerce Secretary Howard Lutnick and Economic Revitalization Minister Ryosei Akazawa.

Akazawa said after the meeting that Trump wanted to reach a deal before the end of his 90-day pause on his “reciprocal” tariffs, with the Japanese hoping to see the agreement sealed “as soon as possible.”

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Japanese Prime Minister Shigeru Ishiba said the negotiations would not be easy, but the initial rounds of talks had “created a foundation for the next steps”.

Like dozens of other US trade partners, Japan has been hit with a 10 percent baseline tariff in addition to duties of 25 percent on cars, steel and aluminium, which rank among the East Asian country’s top exports.

Japan, a top US security ally and its fourth-largest trade partner, is also facing a targeted 24 percent “reciprocal” tariff under Trump’s “liberation day” trade measures, nearly all of which have been paused until July 9.

“Japan’s industry is so closely integrated in the US economy that everyone is very concerned about the trade talks,” Martin Schulz, chief policy economist at Fujitsu in Tokyo, told Al Jazeera.

“Although there cannot be winners in a trade war, we are also quite optimistic that agreeable results can be achieved. Japan is the largest investor in the US and interested in investing more.”

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“If both economies can be kept on a growth track, higher imports from the US become possible,” Schulz added.

The US-Japanese talks came as Wall Street racked up further heavy losses amid continuing uncertainty over Trump’s trade salvoes.

The benchmark S&P 500 closed 2.24 percent lower on Wednesday, while the tech-heavy Nasdaq Composite fell 3.07 percent.

The losses followed a warning by US Federal Reserve Chair Jerome Powell that Trump’s steep tariffs could leave the US economy grappling with weak growth, rising unemployment and higher inflation all at once.

“We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension,” Powell said in a speech to the Economic Club of Chicago on Wednesday, referring to the US central bank’s twin goals of maximum employment and stable prices.

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“If that were to occur, we would consider how far the economy is from each goal, and the potentially different time horizons over which those respective gaps would be anticipated to close.”

US stocks have been on a rollercoaster ride since Trump’s inauguration in January, alternating between sharp dips and big jumps amid his back-and-forth tariff announcements.

Financial markets and businesses have been on tenterhooks waiting for signs that the US president is open to watering down or scrapping many of his tariffs in exchange for concessions from US trading partners.

Trump administration officials have said that more than 75 countries have reached out to begin negotiations on trade.

After the latest losses on Wall Street, the S&P 500 and Nasdaq are down about 10 percent and 15 percent, respectively, since the start of the year.

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Asian stock markets got off to a better start on Thursday, with Japan’s benchmark Nikkei 225, South Korea’s KOSPI and Hong Kong’s Hang Seng Index each rising more than 0.5 percent in early trading.

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Former British MP and reality TV star Ann Widdecombe found dead; man arrested for murder

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Former British MP and reality TV star Ann Widdecombe found dead; man arrested for murder

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A 26-year-old man has been arrested on suspicion of the murder of Ann Widdecombe, a former British member of Parliament and reality TV contestant, police said.

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Widdecombe, 78, was found dead Thursday in her home on the edge of Dartmoor National Park in southwest England. Authorities said she died of serious injuries, Reuters reported.

The name of the suspect has not been released.

LABOUR MP PUTS CABINET ‘ON NOTICE,’ THREATENS TO TRIGGER LEADERSHIP CHALLENGE AGAINST STARMER BY MONDAY

Britain’s European Parliament member Ann Widdecombe, right, of the Brexit Party, speaks during a debate at the European Parliament on Jan. 14, 2020, in Strasbourg, eastern France. Widdecombe was found dead in her home this week and a 26-year-old man has been arrested, authorities said. (Jean-Francois Badias/AP)

“This is really shocking news, and my thoughts, I think all of our thoughts, will be with the family and friends of Ann Widdecombe at this awful time,” Prime Minister Keir Starmer said. “Ann was a distinguished politician over many, many years with many achievements, and it’s a huge, huge loss.”

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Investigators don’t believe the killing was politically motivated, Devon and Cornwall Police Assistant Chief Constable Matt Longman said.

“Our murder enquiry is in its early stages but moving at a significant pace,” ​Devon and Cornwall Police said in a statement.

Starmer said the security of lawmakers was “of the utmost importance,” and urged people to rise above political differences.

BRITISH PRIME MINISTER KEIR STARMER FACES POTENTIAL LEADERSHIP CHALLENGE FROM NEWLY-ELECTED ANDY BURNHAM

Former British member of Parliament Ann Widdecombe reads a statement outside the Old Bailey in London after the sentencing of Ali Harbi Ali in relation to the murder trial of the late British lawmaker David Amess. (John Sibley/Reuters)

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Widdecombe served in Parliament, but found fame after leaving office as a contestant on the Strictly Come Dancing and Celebrity Big Brother reality television shows. She later joined the Brexit Party and became a spokeswoman for the anti-mass migration Reform UK party.

In a post on X, former British Prime Minister Boris Johnson called Widdecombe “a heroic Brexiteer and a great speaker who could move Tory audiences to such ecstasy that she was a very hard act to follow.”

Cloud9 Management, which represented Widdecombe for more than a decade, said her life was driven by her “strong Christian values and commitment to public service.”

“She loved the cut and thrust of political debate and, 16 years after leaving Parliament, was still actively campaigning for Reform UK and offering forthright views on the hot topics of the day across numerous radio and television programmes (sic). Ann was a valued patron of many causes, particularly her animal charities,” the company said in a social media post.

Brexit Party member and then-MEP Ann Widdecombe speaks during a Brexit Party news conference in London on Aug. 27, 2019. (Henry Nicholls/Reuters)

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In the past decade, two serving British members of parliament have ​been murdered.

In the midst of the Brexit campaign of 2016, Labour lawmaker Jo Cox was shot and stabbed by a Nazi-obsessed loner. Conservative lawmaker David Amess was fatally stabbed in 2021 by a man inspired by the ‌Islamic State terror group.

The Associated Press contributed to this report.

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Hundreds of thousands evacuated as Typhoon Bavi barrels towards China

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Hundreds of thousands evacuated as Typhoon Bavi barrels towards China

Super Typhoon Bavi has been downgraded but is still dangerous, meteorologists say.

More than 600,000 people have been evacuated from their homes in China as Typhoon Bavi barrels towards the country after hitting Japan’s Sakishima islands and grazing northern Taiwan.

Chinese authorities said on Saturday more than half a million people were evacuated in the eastern Zhejiang province and another 100,000 in neighbouring Fujian province.

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Bavi is expected to make landfall in Wenzhou, a densely populated city in Zhejiang, in the early hours of Sunday, and is expected to bring heavy rains.

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Although significantly weakened since it thundered through the US Pacific islands on Monday and tracked northwest, Typhoon Bavi remains a significant risk due to the large volumes of moisture it carries in its rain bands.

In China, the national weather agency issued an orange typhoon alert – the second-highest on a four-level rating. Hundreds of flights have been cancelled, rail travel services have been reduced, and many schools and ferry services have been suspended.

“I’m a little worried, but I think it’ll be OK,” Wenzhou resident Huang Xinghuan, 50, told Reuters news agency while buying groceries at a traditional wet market before it closed ahead of the typhoon.

His family, he said, had stocked about two or three days’ water, and food supplies remain guaranteed.

“We’ve been through typhoons before. We’ll get through it,” he added.

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In Ningde city, Fujian province, more than 3,700 people were evacuated from high-risk onshore areas by Friday evening, Xinhua news agency said. Authorities there have placed more than 17,000 emergency rescue workers on standby.

Meanwhile, China’s southern region of Hainan and Guangxi are still reeling from the effects of Tropical Storm Maysak earlier this week. At least 39 people died in the city of Nanning, where a breached dam sent torrents of water through the streets.

Philippines records deaths, Taiwan escapes casualties

At least 17 people were killed in the Philippines after heavy rains brought on by an enhanced southwest monsoon and worsened by Bavi’s impact triggered landslides overnight on Friday.

In Taiwan, where Bavi is expected to sweep past on Saturday according to the island’s Central Weather Administration, at least 36 people have been injured – mainly while riding motorcycles on slippery roads in the heavy rain and winds.

Some 14,210 people were evacuated across the island by Saturday morning, particularly from the city of Taichung and the county of Hualien. Schools, offices and most restaurants across Taiwan have been closed.

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Meanwhile, more than 200 flights were cancelled across Japan as authorities in the southern Okinawa prefecture warned of high waves, strong winds and storm surges. Strong winds and rain have hit the southern Sakishima island chain – administered under Okinawa – since Friday.

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Meta appeals landmark jury verdict that found it to blame for social media addiction for young users

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Meta appeals landmark jury verdict that found it to blame for social media addiction for young users

Meta, the parent company of Instagram and Facebook, has appealed the verdict of a landmark social media addiction lawsuit in Los Angeles, challenging the jury’s determination that the company designed its platforms to hook young users without concern for their well-being.

Lawyers representing Meta filed a notice of appeal Tuesday in Los Angeles County Superior Court. The lawyers will provide their arguments related to the appeal in subsequent court filings.

The case centered on a 20-year-old woman who said she became addicted to social media as a child and that it worsened her mental health struggles. The jury found that negligence by both Meta and Google-owned YouTube, which was also a defendant in the case, was a substantial factor in causing harm to the young woman, identified in court only by her initials, KGM, and her first name, Kaley.

The jury awarded her $3 million in damages and recommended an additional $3 million in punitive damages. Her lead attorney, Mark Lanier, said in a statement Friday that the legal team is expecting the appellate court to “continue the careful application of the law to this case, affirming the verdict of the trial court.”

A notice of appeal starts what can be a lengthy process. A Meta spokesperson provided a statement Friday that they also gave when the jury returned the verdict in March, saying that teen mental health is “profoundly complex and cannot be linked to a single app.”

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José Castañeda, a spokesperson for Google, said in a statement Friday that YouTube plans to appeal and that “these are standard motions for this case to move forward.”

Meta and Google had each filed post-trial motions for judgment notwithstanding the verdict — a routinely filed motion by defense lawyers asking a judge to toss out the jury’s verdict — and for a new trial. The trial judge, Carolyn B. Kuhl, denied those motions in early June.

Tech companies like Meta and YouTube are shielded from legal responsibility for content posted by third parties, based on Section 230 of the 1996 Communications Decency Act. To get around those protections, the plaintiffs focused on the design features of the platforms like “infinite scroll,” or the endless nature of feeds on the platforms, and autoplay functions.

Questions about encroaching into content-related territory were the subject of many objections from the defendants throughout the five-week trial.

The verdict in this case came during a time of legal woes for Meta. A jury in New Mexico returned a verdict finding that Meta’s platforms harm children’s mental health and safety just one day before the California jury reached its decision. The New Mexico jury, siding with state prosecutors who brought the case, landed on a penalty of $375 million. Meta has said the company disagrees with the verdict and will also appeal in that case.

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“We will continue to defend ourselves vigorously, and we remain confident in our record of protecting teens online,” a Meta spokesperson said in a statement at the time of the verdicts and again on Friday.

Kaley’s case was a first-of-its-kind lawsuit, and the verdict could influence the outcome of thousands of similar lawsuits accusing social media companies of deliberately causing harm. TikTok and Snapchat parent company Snap Inc. were also initially named as defendants in the case, but each settled for undisclosed sums before the trial began.

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