Stockmarkets slumped and the value of the dollar surged as Donald Trump’s tariffs on Canada, Mexico and China sparked fears of a global trade war. Europe’s Stoxx 600 and Britain’s FTSE 100 both fell by nearly 1.5% after Mr Trump promised to levy tariffs on the European Union. Mexico and Canada have vowed to retaliate. Kaja Kallas, the EU’s chief diplomat, said there are “no winners in trade wars”.
Mr Trump cast doubt on the future of USAID, accusing it of being “run by a bunch of radical lunatics”. Over the weekend the Trump administration continued its purge of the aid agency by removing two high-ranking officials. Its website was also shut down. Some reports suggest that USAID could be absorbed into the State Department, a move that could reduce funding for development programmes abroad.
OpenAI launched a new artificial-intelligence agent that can help users on its ChatGPT platform generate in-depth research reports on complex topics. Deep Research, as the service is called, promises to scour the internet for information, scanning images and PDFs. Last month OpenAI launched Operator, an agent that helps users make purchases online.
Armen Sarkisyan, the leader of a pro-Russian paramilitary group in eastern Ukraine, was killed in a bombing at a luxury apartment block in Moscow, according to Russian state media. One of Mr Sarkisyan’s bodyguards was also killed and three others injured. No group has claimed responsibility for the attack. Ukrainian authorities issued an arrest warrant for Mr Sarkisyan in 2014.
Bart De Wever became Belgium’s prime minister after five parties agreed on Friday to form a coalition. Mr De Wever, whose centre-right N-VA party won Belgium’s election nearly eight months ago, will be the first Flemish nationalist to become the country’s leader. He vowed to implement “the strictest migration policy ever” and cut public spending to improve Belgium’s finances.
Marco Rubio, America’s secretary of state, told José Raúl Mulino, Panama’s president, that China’s “position of influence and control” over the Panama Canal was unacceptable. Mr Rubio warned that America may “protect its rights” under the treaty governing the canal unless Panama curbed Chinese influence. Mr Mulino downplayed the warning, saying he did not see “any real threat” from America.
Beyoncé became the first black artist to win a Grammy for best country album. “Cowboy Carter” provoked a backlash among some country-music fans, who claimed that the singer—more often associated with R&B—lacks authenticity. The Country Music Association did not nominate her for its awards. (We argued she has legitimate country roots.) Other big winners at the Grammys included Charli XCX and Kendrick Lamar.
Figure of the day: 90,000, the number of Americans who died from drug overdoses, mainly involving fentanyl, in the year to August 2024. Read the full story.
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