Vladimir Putin visited Russian troops in Kursk, a border region partly held by Ukraine. The trip—his first since Ukraine’s surprise assault last summer—came shortly after Ukraine agreed in principle to a 30-day ceasefire proposed by America. Donald Trump said American officials were travelling to Russia to discuss the idea and that he could “do things financially that would be very bad for Russia” if it did not go ahead.
Mr Trump said he would “of course” respond to the European Union’s decision to introduce $28bn in tariffs on American imports, but did not say how. The EU’s move came in response to America’s 25% levy on all steel and aluminium entering the country. Canada also introduced $21bn-worth of retaliatory tariffs on its neighbour.
Intel appointed Tan Lip-Bu as its chief executive, months after the struggling chipmaker ousted Pat Gelsinger. The American firm is playing catch-up in the manufacture of cutting-edge chips, having fallen far behind competitors such as Taiwan’s TSMC. Mr Tan said he hoped to restore “world-class” operations in chip design and manufacturing. Intel’s shares rose by 12% after his appointment.
Pakistan’s army said it had freed around 300 hostages from a train hijacked by the Baloch Liberation Army, a separatist militant group, in Balochistan province. More than 400 passengers were on board when the BLA seized the train on Tuesday; 21 civilians were reportedly killed. Pakistani officials said all 33 attackers were killed during the rescue mission.
Rodrigo Duterte, a former president of the Philippines, said he would “be responsible for everything” as he prepared to face charges of crimes against humanity from the International Criminal Court in The Hague. The remarks, posted on his Facebook account, are his first since his arrest at Manila airport on Tuesday. In office, Mr Duterte urged police to commit thousands of extra-judicial killings.
America’s annual inflation rate fell to 2.8% in February, below forecasts of 2.9%. The core rate, which excludes volatile food and energy prices, was 3.1%. Treasury yields fell in response, as the figures prompted expectations that the Federal Reserve would cut interest rates more aggressively. However, the data predate most of Mr Trump’s new tariffs, which will probably lead to higher prices.
Meanwhile the Bank of Canada cut interest rates by a quarter of a percentage point, to 2.75%, while warning that Mr Trump’s tariffs had caused a “new crisis”. The central bank, which has eased rates seven times in nine months, said that uncertainty was already hurting investment. But it said it would proceed cautiously, balancing inflation risks with weak growth.
Figure of the day: 38%, the share of American college students displaying symptoms of depression in 2024, down from 44% in 2022. Read the full story.
Donald Trump’s return to the presidency has brought exceptional changes to American politics—with consequences for the rest of the world, too. Read The US in brief, a daily update of the domestic political stories that matter. Sign up here to receive it as a newsletter, each weekday, in your inbox.