Conservatives and former provincial premiers among those PM names to advisory committee on economic relationsCanada’s prime minister, Mark Carney, says his new advisory committee on economic relations with the United States will draw on the “best advice and the broadest perspectives” as the country braces what many expect will be tense trade negotiations with its southern neighbour.The 24-member advisory committee, announced on Tuesday, shows the prime minister’s eagerness to reach across the political spectrum to ensure Canada is “well positioned to advance its interests” at the looming trade talks. Continue reading...
US military boasts blockade of the strait of Hormuz will incapacitate Iran’s economy; Trump says negotiations could return to PakistanUS-Iran peace talks could resume in next two days, Trump saysWelcome to the Guardian’s continuing coverage of the crisis in the Middle East.The US military has said American forces have completely halted economic trade going in and out of Iran by sea through a blockade.An estimated 90% of Iran’s economy is fueled by international trade by sea. In less than 36 hours since the blockade was implemented, U.S. forces have completely halted economic trade going into and out of Iran by sea.”Donald Trump has said that talks with Iran could resume in Pakistan over the next two days, according to an interview with the New York Post. “Something could be happening over the next two days, and we’re more inclined to go there,” Trump was quoted as saying.US secretary of state Marco Rubio said Israel-Lebanon talks in Washington on Tuesday were a “historic opportunity”. He said that while every complexity would not be resolved immediately, he hoped the parties would begin to move forward.Lebanon’s president expressed hope that direct talks would lead to an end to his country’s “suffering” after war erupted again between Israel and Hezbollah last month. “I hope that the meeting in Washington... will mark the beginning of the end of the suffering of the Lebanese people in general, and those in the south in particular,” president Joseph Aoun said in a statement, adding that “stability will not return to the south if Israel continues to occupy its lands”.Lebanon’s top envoy to the US said the high-level diplomatic engagement between her country and Israel was “constructive,” but urged an end to the ongoing conflict between Israel and Iran-backed Hezbollah militants that has displaced thousands of Lebanese. After participating in Tuesday’s talks with Rubio and Israel’s ambassador to the US, Nada Hamadeh Moawad said she had “underscored the need to preserve our territorial integrity and state sovereignty”.The US will not renew a 30-day waiver of sanctions on Iranian oil at sea that expires this week officials told Reuters, as the US imposes a blockade on shipments from Iranian ports.UK prime minister Keir Starmer and French president Emmanuel Macron will co-host a summit in Paris on Friday focused on efforts to reopen the strait of Hormuz, Downing Street said. A spokesperson said: “The summit will advance work towards a coordinated, independent, multinational plan to safeguard international shipping once the conflict ends.”Trump criticised Italian prime minister Giorgia Meloni, a political ally, in an interview published on Tuesday for her unwillingness to help in the Iran war. “I’m shocked at her. I thought she had courage, but I was wrong,” he told Italian daily Corriere della Sera.Foreign ministers from Saudi Arabia, Pakistan and Egypt will meet Turkey’s top diplomat this week for talks on regional matters, a ministry source told AFP on Tuesday. “This is the third meeting of the four countries to discuss regional affairs, not specifically Hormuz,” said the source, who wished to remain anonymous.Hezbollah said it targeted 13 northern Israeli towns with rockets shortly after the start of Lebanese-Israeli talks in Washington. In a statement, the group said it targeted Kiryat Shmona, Metula and 11 other towns “with simultaneous rocket salvos” at 6.15pm.US treasury secretary Scott Bessent has said the underlying US economy remains strong and that growth could still exceed 3% or 3.5% this year despite the impact of the US-Israel war on Iran. Earlier on Tuesday, the International Monetary Fund (IMF) cut its growth forecasts for 2026 based on the impact of the war and said any further escalation in the conflict could trigger a global recession. Bessent however cast cuts in global growth forecasts and higher inflation projections by the IMF and World Bank as an overreaction. Continue reading...
• US Treasury Secretary Janet Yellen met with Chinese Vice Premier He Lifeng in Geneva on April 8, 2026, to discuss de-escalating trade tensions after new US tariffs on Chinese EVs and semiconductors.
• The talks addressed a $50 billion US trade deficit with China and Beijing's retaliatory duties on US agricultural goods, with both sides agreeing to a 90-day tariff freeze.
• The negotiations matter as they could avert a global economic slowdown, with IMF warning of 0.8% GDP hit if tensions worsen; Wall Street rallied 1.2% on the news.
• Presidents of Brazil and Argentina held high-level talks on April 6 to establish a new bilateral trade framework reducing tariffs and increasing agricultural and technology sector cooperation, aiming to strengthen Mercosur.
• The leaders agreed to coordinate regional responses to global economic pressures and announced plans for joint infrastructure investments; discussions included currency stabilization mechanisms to address exchange rate volatility.
• Both nations emphasized commitment to democratic governance and rule of law amid regional concerns about institutional challenges; the initiative signals Latin American countries seeking greater economic autonomy.
• US National Security Advisor Jake Sullivan met with Chinese Foreign Minister Wang Yi in Beijing on April 4, 2026, announcing plans for bilateral talks on trade imbalances and semiconductor export restrictions amid rising tensions.
• The agreement includes a framework for reducing tariffs on $50 billion in goods and joint cybersecurity standards, with Sullivan stating, 'This is a step toward stabilizing our economic relationship without compromising security.'
• The deal matters as it averts potential escalation in US-China tech rivalry, potentially boosting global markets and easing supply chain disruptions affecting US consumers.
Treasury Secretary Scott Bessent is set to meet Chinese officials next week for a new round of trade negotiations, as US markets grapple with oil disruptions from Middle East conflicts. The talks aim to address tariffs and supply chain issues exacerbated by the Strait of Hormuz blockage. President Trump's energy team monitors surging prices, with industry leaders consulted on naval escort options. Economists predict outcomes could influence global commodity stability and US inflation rates.
Treasury Secretary Scott Bessent is set to meet Chinese officials next week for a new round of trade negotiations, as announced on March 14, 2026. The talks come amid surging oil prices and Middle East disruptions affecting global supply chains. U.S. officials aim to address tariffs and technology export restrictions, with Bessent stating 'we seek fair competition without escalation.' Industry leaders warn that outcomes could impact American consumers facing higher costs from ongoing conflicts.
