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ISLAMABAD: The US Senate on Tuesday advanced a resolution to limit President Donald Trump&rsquo;s authority to conduct military action against Iran without congressional approval, marking the first time Democrats have cleared such a procedural vote after seven failed attempts. The joint resolution, introduced by Democratic Senator Tim Kaine and several other senators, directs the president to remove US armed forces from &quot;hostilities within or against Iran&quot; unless Congress formally authorizes military action through a declaration of war or a specific use-of-force authorization. According to the text of the resolution, lawmakers argued that Congress alone has the constitutional authority to declare war under Article I of the US Constitution and that Congress has neither declared war on Iran nor approved military force against the country. The Senate voted 50-47 to discharge the resolution from the Committee, with four Republican senators, Susan Collins, Lisa Murkowski, Rand Paul, and Bill Cassidy, joining most Democrats in backing the resolution, while Democratic Senator John Fetterman voted against it, CBS News reported. The resolution further states that military action against Iran, including the enforcement of a naval blockade, would constitute hostilities under the War Powers Resolution. However, the measure includes provisions allowing the United States to defend itself against attacks, continue intelligence-sharing with allies, and assist partner countries targeted by Iran or its proxies through defensive support, according to the resolution. Speaking before the vote, Kaine said Americans were increasingly opposed to another conflict in the Middle East. &quot;They are deeply opposed to this war,&quot; he told reporters, according to CBS News. Kaine also linked the conflict to rising economic pressure on Americans, particularly fuel prices ahead of the Memorial Day holiday travel period. &quot;We&rsquo;re coming up on Memorial Day. A lot of people do a lot of driving, they&rsquo;re going to be paying a lot for gas,&quot; Kaine said, according to CBS News. Senate Minority Leader Chuck Schumer said the vote showed growing Republican unease over the administration&rsquo;s Iran policy. &ldquo;Momentum is building to check him,&rdquo; Schumer said. The resolution still has to pass a final vote and, even then, would face major obstacles in the Republican-controlled House of Representatives, which has already rejected similar efforts, and would almost certainly be vetoed by Trump if it reached his desk, AFP reported.

US Senator Tim Kaine speaks following the Senate's vote on the War Powers resolution, at the US Capitol in Washington, DC on February 13, 2020. (Photo by MANDEL NGAN/AFP)

Americas

Middle East

The Senate has approved a procedural step to limit unauthorized US hostilities against Iran. However, the resolution still has to pass a final vote in both chambers of Congress and likely presidential opposition. 

US Senate moves to restrict unauthorized hostilities against Iran

ISLAMABAD: World leaders on Wednesday publicly thanked Pakistan for its mediation efforts following the announcement of a two-week ceasefire between the United States and Iran. Messages on X from European, Asian, and Middle Eastern officials emphasized Islamabad&#39;s role as a crucial diplomatic channel in reducing tensions. The United Nations Secretary-General welcomed the announcement, calling on all the parties to comply with their &quot;obligations under international law and to abide by the terms of the ceasefire to pave the way toward a lasting and comprehensive peace in the region.&quot; According to a statement issued by spokesperson St&eacute;phane Dujarric, the secretary-general expressed &quot;sincere appreciation for the efforts of Pakistan and other countries involved in facilitating the ceasefire.&quot; European Commission President Ursula von der Leyen said she welcomed the ceasefire and &ldquo;thank[ed] Pakistan for its mediation,&rdquo; while German Chancellor Friedrich Merz also said he welcomed the pause in fighting and thanked Pakistan for its role.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2041755410290393255&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Flogin%2F&sessionId=873a55453a537d0656fc6f405763375253472d25&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 369px; display: block; flex-grow: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div>&nbsp;European Council President Ant&oacute;nio Costa said he welcomed the US-Iran ceasefire announcement and urged all sides to uphold its terms to achieve a lasting outcome, while the European Union&rsquo;s foreign policy chief Kaja Kallas described the deal as a step back from the brink after weeks of escalation.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe id="twitter-widget-1" scrolling="no" frameborder="0" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2041784093843521606&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Flogin%2F&sessionId=873a55453a537d0656fc6f405763375253472d25&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; 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New Zealand said it welcomed the announcements by Washington and Tehran and all efforts to end the conflict, while Oman&rsquo;s foreign ministry welcomed the ceasefire declaration and praised mediation efforts.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe id="twitter-widget-2" scrolling="no" frameborder="0" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-2&features=eyJ0ZndfdGltZWxpbmVfbGlzdCI6eyJidWNrZXQiOltdLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2ZvbGxvd2VyX2NvdW50X3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9iYWNrZW5kIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19yZWZzcmNfc2Vzc2lvbiI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfZm9zbnJfc29mdF9pbnRlcnZlbnRpb25zX2VuYWJsZWQiOnsiYnVja2V0Ijoib24iLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X21peGVkX21lZGlhXzE1ODk3Ijp7ImJ1Y2tldCI6InRyZWF0bWVudCIsInZlcnNpb24iOm51bGx9LCJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3Nob3dfYmlyZHdhdGNoX3Bpdm90c19lbmFibGVkIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19kdXBsaWNhdGVfc2NyaWJlc190b19zZXR0aW5ncyI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdXNlX3Byb2ZpbGVfaW1hZ2Vfc2hhcGVfZW5hYmxlZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdmlkZW9faGxzX2R5bmFtaWNfbWFuaWZlc3RzXzE1MDgyIjp7ImJ1Y2tldCI6InRydWVfYml0cmF0ZSIsInZlcnNpb24iOm51bGx9LCJ0ZndfbGVnYWN5X3RpbWVsaW5lX3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9mcm9udGVuZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9fQ%3D%3D&frame=false&hideCard=false&hideThread=false&id=2041684624091574750&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Flogin%2F&sessionId=873a55453a537d0656fc6f405763375253472d25&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 369px; display: block; flex-grow: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div>Kazakhstan&rsquo;s presidency said President Kassym-Jomart Tokayev welcomed the agreement on a full ceasefire and truce in the Middle East, reached with the assistance of international mediation.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe id="twitter-widget-3" scrolling="no" frameborder="0" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-3&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2041752473862598933&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Flogin%2F&sessionId=873a55453a537d0656fc6f405763375253472d25&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 874px; display: block; flex-grow: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div>Ukraine&rsquo;s Foreign Minister Andrii Sybiha said Kyiv welcomed the agreement to unblock the Strait of Hormuz and cease fire, as well as Pakistan&rsquo;s mediation efforts, underscoring how widely Islamabad&rsquo;s role was being acknowledged across different regions.&nbsp;Norway&rsquo;s foreign minister Espen Barth Eide likewise said the temporary ceasefire gave diplomacy a chance at a moment when the world had stood on the edge of a wider confrontation.&nbsp;Pakistan&rsquo;s foreign ministry said Deputy Prime Minister and Foreign Minister Ishaq Dar had been engaged with foreign counterparts as the ceasefire took shape.&nbsp;Taken together, the wave of public messages and statements shows that Pakistan has earned visible international recognition for its mediation efforts. Reaction from world leadersLeaders from Europe and East Asia welcomed the ceasefire between Iran and the United States, mediated by Pakistan, in a joint statement issued on Wednesday. In the statement, the United Kingdom, France, Italy, Germany, Canada, Denmark, the Netherlands, Spain, the European Commission, the European Council, and Japan jointly thanked Pakistan and all partners involved for facilitating this &ldquo;important agreement.&rdquo; &ldquo;The goal must now be to negotiate a swift and lasting end to the war within the coming days. This can only be achieved through diplomatic means,&rdquo; the statement said. It also encouraged quick progress towards a substantive negotiated settlement, adding that this will be crucial to protect the civilian population of Iran and ensure security in the region. &ldquo;It can avert a severe global energy crisis,&rdquo; it added. &ldquo;We support these diplomatic efforts. To this end, we are in close contact with the United States and other partners,&rdquo; the statement said.

Foreign Affairs

World leaders from Europe, Asia and the Middle East publicly thanked Pakistan for helping mediate the U.S.-Iran ceasefire, underscoring Islamabad’s diplomatic role in opening channels for de-escalation, easing tensions and supporting renewed dialogue during a dangerous regional crisis.

‘Islamabad Diplomacy’ hailed as world leaders praise Pakistan’s Iran mediation

WASHINGTON: Israeli Prime Minister Benjamin Netanyahu said Monday that the war on Iran had achieved more than half its aims, without putting a timeline on when it would end. &quot;It&#39;s definitely beyond the halfway point. But I don&#39;t want to put a schedule on it,&quot; Netanyahu told the conservative US broadcaster Newsmax. He added that he meant the war was more than halfway &quot;in terms of missions, not necessarily in terms of time.&quot; President Donald Trump, who launched the war with Netanyahu on February 28, initially said the operation would last for four to six weeks. Secretary of State Marco Rubio said Monday that the war would last &quot;weeks&quot; further instead of months, amid wide US public opposition to a conflict that has sent oil prices soaring. Netanyahu said the war had achieved goals including killing &quot;thousands&quot; of members of Iran&#39;s Revolutionary Guards. Israel and the United States are also &quot;close to finishing their arms industry,&quot; he added. &quot;Just the whole industrial base -- wiping out all, you know, just plants, entire plants, and the nuclear program itself,&quot; he said. Netanyahu and Trump have repeatedly alleged that Iran was close to building a nuclear weapon, a claim not supported by the UN nuclear watchdog and that comes despite Trump saying he &quot;obliterated&quot; key sites in attacks last year. Netanyahu also voiced confidence that Iran&#39;s Islamic republic would fall, though he said again that this was not the goal. &quot;I think this regime will collapse internally. But at the moment, right now, what we&#39;re doing is just degrading their military capacity, degrading their missile capacity, degrading their nuclear capacity and also weakening them from the inside,&quot; Netanyahu said. The war came weeks after Iranian authorities clamped down on major anti-government demonstrations, killing thousands of people. Trump in recent days has said the war has effectively achieved &quot;regime change&quot; by empowering other figures within the cleric-run state who Trump says may be more accommodating.

Says the war on Iran has achieved more than half its military aims, including major damage to Iran’s forces and arms industry, while US officials say fighting could continue for weeks despite growing public opposition.

Netanyahu says Iran war goals achieved 'beyond halfway point'

UNITED NATIONS: The Gaza envoy for US President Donald Trump&#39;s new &quot;Board of Peace&quot; initiative urged UN Security Council members to pressure Hamas to disarm, as part of a ceasefire to end over two years of war. &quot;I ask the council members to use all means at their disposal to urge Hamas and all Palestinian factions to accept this framework without delay,&quot; said Nickolay Mladenov, a veteran Bulgarian diplomat named the board&#39;s high representative for Gaza. &quot;Every hour, every day wasted carries a human cost and further erodes the process for credible and lasting peace,&quot; he told a Security Council meeting on the Palestinian conflict. Trump&#39;s administration, along with Qatar and Egypt, negotiated a ceasefire in October to halt two years of devastating war in Gaza. In January, Washington said it was moving into the second phase of the peace plan that calls for the disarmament of Hamas. It also calls for the gradual retreat of Israeli forces and the deployment of an international stabilizing force. But despite the reduced violence, Israeli strikes have at times continued, resulting in hundreds of deaths since the ceasefire, and Hamas has refused to disarm under conditions it says are imposed by Israel. &quot;The laying down of arms by militant groups would represent a decisive break from cycles of violence that have defined life in Gaza for decades,&quot; Mladenov said. Trump&#39;s Board of Peace has promised a wave of reconstruction and investment aid for Gaza in case of a lasting truce. Since then, at least 72,000 people have died in Gaza in an Israeli military offensive, according to the territory&#39;s health ministry, whose figures are considered reliable by the United Nations. Also at the meeting, the UN Resident Coordinator Office&#39;s deputy special coordinator for the Occupied Palestinian Territories, Ramiz Alakbarov, warned of a &quot;heightened level of violence in the West Bank.&quot; Violence between Israeli settlers and Palestinians in the West Bank risks &quot;further displacing Palestinian communities,&quot; he said.

A Palestinian man gestures as he stands in the remains of a burnt-out home following a reported attack by Israeli settlers in the village of Deir al-Hatab, east of the city of Nablus, in the Israeli-occupied West Bank on March 23, 2026 (AFP).

The Gaza envoy for US President Donald Trump's new "Board of Peace" initiative urged UN Security Council members to pressure Hamas to disarm, as part of a ceasefire to end over two years of war.

Trump's 'Board of Peace' Gaza envoy urges Hamas to disarm 'without delay'

NEW YORK: Oil prices tumbled and stock markets rebounded Monday after US President Donald Trump suddenly ordered a halt to strikes on Iranian energy infrastructure after initially setting a 48-hour deadline, claiming &quot;very good&quot; talks with Tehran. Crude futures plunged more than 14% after Trump&#39;s comments on his Truth Social platform, but pared those losses after Iran denied any talks were taking place. Brent closed down 10.9 percent at $99.94 per barrel, while its US equivalent, West Texas Intermediate, lost 10.3% to $88.13. Sam Stovall of CFRA Research said the fact that Trump had specified a five-day pause on energy infrastructure strikes &quot;means we probably could see some additional strength through this week&quot; in the equity markets. Asian and European stock markets had kicked off the new week with sharp losses, but Trump&#39;s update, which came after the Asian close, saw European and US equities rally. The rebound lost some steam after Iranian media said there had been no talks between Tehran and Washington, and London&#39;s FTSE 100 ended the day lower as energy and defence stocks slumped. Wall Street&#39;s main stock indices closed up, with the S&amp;P 500, Nasdaq Composite and Dow Jones all gaining more than one percent. &quot;It&#39;s incredibly difficult to trade these markets when Trump is swinging between massive escalation and declaring peace/victory... but the market is happy for now that we do not enter a new phase of danger,&quot; said Saxo UK investor strategist Neil Wilson. Stovall of CFRA Research said in an environment of such high uncertainty, investors were making decisions &quot;based on suppositions rather than facts.&quot; XTB research director Kathleen Brooks said that if Trump&#39;s comments pointed to be an off-ramp from the conflict, &quot;we could see a move back towards $90 per barrel for Brent in the coming days.&quot; But she added that oil would not quickly return to the pre-war levels of under $70 a barrel as it would take time to repair damaged energy infrastructure in the Gulf. Ahead of Trump&#39;s update, the International Energy Agency warned of the worst global energy crisis in decades. Iran warned the Hormuz Strait &quot;will be completely closed&quot; should Trump act on his threat to destroy its energy infrastructure. The 48-hour ultimatum came as the waterway -- through which a fifth of global oil and liquefied natural gas flows -- remains effectively closed to all but Iranian oil. Analysts have warned of a potential inflation surge as oil prices remain far above pre-war levels despite Monday&#39;s plunge. That could prompt central banks hike interest rates, putting the brakes on the global economy. Trump&#39;s latest announcement sent the greenback lower against the euro, pound and yen. For the markets, Stovall warned that uncertainty remained the name of the game. &quot;We could just as easily fall tomorrow if the president says something else that contradicts what happened today,&quot; he said. &quot;But I don&#39;t think that&#39;s going to happen.&quot;

Pedestrians walk past an electronic signboard showing the closing price of the Hang Seng Index in Hong Kong on March 23, 2026 (AFP)

Asian and European stock markets had kicked off the new week with sharp losses, but Trump's update, which came after the Asian close, saw European and US equities rally.

Oil slides, stocks rebound on Trump's Iran remarks

US President Donald Trump signs an executive order during a ceremony in the Oval Office of the White House on March 16, 2026, in Washington, DC (AFP)

Europe

US President Donald Trump on Friday ruled out reaching a ceasefire agreement with Iran, saying Washington has the upper hand in the three-week-old war.

All you need to know about Day 21 of US-Israeli war on Iran

HAVANA: US President Donald Trump vowed Monday to &quot;take&quot; Cuba as the communist island plunged into darkness under a total power blackout linked to a crippling oil embargo imposed by Washington. After nearly seven decades defying the United States, Havana&#39;s communist authorities are under massive pressure from a Trump administration determined to make history. &quot;You know, all my life I&#39;ve been hearing about the United States and Cuba. When will the United States do it?&quot; Trump told reporters at the White House. &quot;I do believe I&#39;ll be...having the honor of taking Cuba,&quot; Trump said. &quot;Whether I free it, take it -- think I could do anything I want with it, you want to know the truth. They&#39;re a very weakened nation right now.&quot; It was one of Trump&#39;s most explicit threats and came as the Caribbean island of 9.6 million people grappled with yet another major power cut. The blackout resulted from a &quot;complete shutdown of the national grid,&quot; Union Nacional Electrica de Cuba (UNE) said in a statement, adding that work had begun to restore electricity flow. Cuba&#39;s aging electricity generation system is in shambles, with daily power outages of up to 20 hours the norm in parts of the island. But since the US ouster of Cuba&#39;s top ally, Nicolas Maduro of Venezuela, on January 3, the island&#39;s economy has been hammered further as Trump maintains a de facto oil blockade. No oil has been imported to the island since January 9, hitting the power sector while also forcing airlines to curtail flights to the island, a blow to the all-important tourism sector. In a bid to relieve economic pressure -- and meet US demands -- a senior economic official in Cuba announced Monday that Cuban exiles would now be able to invest and own businesses there. &quot;Cuba is open to having a fluid commercial relationship with US companies&quot; and &quot;also with Cubans residing in the United States and their descendants,&quot; Oscar Perez-Oliva, who is foreign trade minister and also deputy prime minister, told NBC News. The New York Times reported Monday, relying on anonymous sources, that Trump administration officials have signaled to Cuban officials that the US wants President Miguel Diaz-Canel to be removed from power. Popular unrest&nbsp;The blackouts, as well as regular shortages of food, medicine and other basics, are spurring frustrations. In a rare moment of violence, demonstrators vandalized a provincial office of the Cuban Communist Party last weekend. It was part of a new trend of protests in which people bang pots and pans at night, at times yelling &quot;Libertad,&quot; or freedom. Fourteen people have been arrested after the office assault in Moron, a town of around 70,000 people east of Havana, the regional party chief told state-run newspaper Invasor. The violence prompted Diaz-Canel to acknowledge in an X post &quot;the discontent our people feel because of the prolonged blackouts&quot;, including a major outage in early March. &quot;What will never be comprehensible, justified, or admitted is violence,&quot; Diaz-Canel said. The government has also rationed gasoline sales and some hospital services due to the fuel shortages. Diaz-Canel confirmed last week that his government had held talks with the United States. Trump has alleged the fuel blockade is a response to an &quot;extraordinary threat&quot; posed by Cuba to the United States. Trump said Sunday that Cuba &quot;wants to make a &quot;deal&quot;, which could come quickly after his administration has finished the war against Iran. &quot;I think we will pretty soon either make a deal or do whatever we have to do,&quot; Trump told reporters aboard Air Force One.

Donald Trump escalated pressure on Cuba amid a deepening energy crisis, threatening to “take” the island as US policies choke oil supplies, trigger blackouts, fuel unrest, and push Havana toward negotiations and economic concessions.

Trump vows to 'take' Cuba as island reels from oil embargo

PARIS: China and the US held what both sides described Monday as constructive talks aimed at addressing volatile trade ties that have been upended by President Donald Trump&#39;s tariffs and the Middle East war. The talks in the French capital &quot;were constructive and they show the stability of the relationship&quot;, US Treasury Secretary Scott Bessent told journalists. Chinese state media described the Sunday talks between Bessent and Chinese Vice Premier He Lifeng as &quot;candid, in-depth and constructive&quot;. He said the exchange would inject &quot;greater certainty and stability&quot; into bilateral trade ties and the global economy, according to Xinhua. The Paris meeting was widely seen as setting the stage for Trump to visit China for a summit with its President Xi Jinping. The trip was initially planned from March 31 to April 2, but US officials confirmed Monday that it was likely to be delayed due to Washington&#39;s war on Iran. Beijing said Monday it was in talks with Washington over the visit by Trump, who has pressured NATO allies including China to help reopen the Strait of Hormuz. Earlier, Trump had suggested he could delay a meeting with Xi if Beijing does not assist in reopening the strait. The waterway, critical to oil transportation, has been effectively closed by Iran in retaliation over the US and Israeli war against Tehran. Beijing&#39;s foreign ministry said on Monday that Beijing and Washington &quot;are maintaining communication regarding President Trump&#39;s visit to China&quot;. &quot;Head-of-state diplomacy plays an irreplaceable strategic guiding role in China-US relations,&quot; spokesman Lin Jian told a press conference. Lin did not address Trump&#39;s recent pressure on NATO allies and China to assist in Hormuz. The &quot;tense situation&quot; in the strait has &quot;disrupted international trade routes for goods and energy&quot;, Lin said when asked about Trump&#39;s comments. Probes and tariffsThe Paris talks follow a turbulent year in US-China economic ties since Trump returned to the presidency. The United States announced new trade investigations last week into excess industrial capacity, targeting 60 economies including China and other key partners. The prospect has fuelled the possibility of further tariffs after the Supreme Court struck down Trump&#39;s global duties. The probes will look into &quot;failures to take action on forced labour&quot; and whether these burden or restrict US commerce, according to US officials. Greer said his team gave the Chinese &quot;a preview of what we&#39;re doing on US trade policy as we adjust to the Supreme Court&quot;. &quot;The president&#39;s trade policy hasn&#39;t changed, our tools may change, and we&#39;re conducting these investigations,&quot; he added. &quot;We don&#39;t want to prejudge them, and we had a good conversation with our counterparts about that process.&quot; Beijing said on Monday that it &quot;lodged representations&quot; and urged Washington to &quot;correct its erroneous&quot; trade practices. &quot;We urge the US side to immediately correct its erroneous ways, meet China halfway... and resolve issues through dialogue and negotiations,&quot; Beijing&#39;s commerce ministry said in a statement. The latest round of investigations &quot;is extremely unilateral, arbitrary and discriminatory&quot;, it said, accusing Washington of &quot;attempting to construct trade barriers&quot;. Li also reiterated on Monday that China firmly opposed such &quot;unilateral&quot; probes, Xinhua reported. Global oil prices have surged by 40 to 50 percent since the war began, with Hormuz choked off and Iran&#39;s attacks on energy and shipping industry targets in its Gulf neighbours. Experts say that China, which maintains large oil reserves, is better equipped than many other nations to deal with the impact of the war. But it has reason to be concerned about the consequences of the situation in the Middle East on trade. China&#39;s official trade data for January and February, before the war in Iran began, showed that the country&#39;s economy is largely buoyed by exports and international trade.

 US President Donald Trump speaks during a lunch with the Trump Kennedy Center Board Members in the East Room of the White House on March 16, 2026, in Washington, DC (AFP)

China

Washington and Beijing say dialogue remains ongoing after high-level discussions in Paris, as tensions persist over tariffs and trade probes. Meanwhile, uncertainty grows over a potential Trump-Xi summit amid the Middle East conflict and Hormuz disruption.

US, China hold 'constructive' talks on trade, but Trump visit in doubt 

BEIJING:&nbsp;Officials from China and the United States met for trade talks in Paris on Sunday, China&#39;s state news agency Xinhua said. US Treasury Secretary Scott Bessent was due to meet Chinese Vice Premier He Lifeng to hash out trade issues between the world&#39;s two largest economies, less than three weeks before President Donald Trump is expected to make an official visit to China to meet his counterpart Xi Jinping. China&#39;s state broadcaster CCTV said the talks were being held at the OECD headquarters in Paris. The diplomatic engagements come at a tumultuous time for the global economy, as energy markets are sent spinning from the impact of the US-Israeli war with Iran. Beijing is a close partner of Tehran and has condemned the killing of Iran&#39;s former supreme leader, but it has also criticized Iranian strikes against Gulf states. Trade war&nbsp;China and the United States fought a bruising trade war for much of 2025, with reciprocal tariffs reaching triple digits at one point and export restrictions threatening to wreck global supply chains for critical minerals. Tensions cooled after Trump met Xi in Busan, South Korea, in October, but new US probes into Chinese industrial overcapacity and forced labor announced on Wednesday threaten more instability. China&#39;s commerce ministry said in a statement on Friday that officials in Paris would &quot;conduct consultations on economic and trade issues of mutual concern&quot;, without giving further details about the content of the talks. Bessent, who was to be accompanied by US Trade Representative Jamieson Greer, said in a statement on Thursday that &quot;economic dialogue&quot; between the countries &quot;is moving forward&quot;. The Paris gathering, which is due to last two days, is seen as setting the stage for Trump&#39;s expected visit to China later this month. Washington has said Trump will visit China from March 31 to April 2, although Beijing has yet to confirm those dates in line with its usual practice.

Asia

Washington has said Trump will visit China from March 31 to April 2, although Beijing has yet to confirm those dates; 

Chinese, US delegations meet for trade talks in Paris: State media

LONDON: US President Donald Trump said the historical relationship between his country and Britain was &quot;not like it used to be&quot;, in an interview to British daily newspaper The Sun, amid a major transatlantic fall out over US-Israeli strikes against Iran. &quot;This was the most solid relationship of all. And now we have very strong relationships with other countries in Europe,&quot; he said, singling out France and Germany, after UK Prime Minister Keir Starmer&#39;s initial refusal to allow the United States to use British military bases in its war with Iran. Trump said Starmer &quot;has not been helpful&quot;, adding: &quot;I never thought I&#39;d see that. I never thought I&#39;d see that from the UK. We love the UK.&quot; In a telephone interview from the White House on Monday evening, Trump said: &ldquo;This was the most solid relationship of all. And now we have very strong relationships with other countries in &nbsp;Europe.&rdquo; &quot;It&#39;s a different world, actually. It&#39;s just a much different kind of relationship that we&rsquo;ve had with your country before. &quot;It&rsquo;s very sad to see that the relationship is obviously not what it was,&quot; he added. The scathing comments come a day after Trump described Starmer&#39;s reaction as &quot;very disappointing&rdquo; in an interview with The Daily Telegraph. He added that Starmer&rsquo;s later decision to allow the use of UK bases on specific grounds as &quot;useful&quot; but said it &quot;took far too much time&quot;. Any potential military action in the Middle East is politically sensitive in the UK following former prime minister Tony Blair&#39;s disastrous support for the US-led invasion of Iraq. &#39;National interest&#39;&nbsp; Starmer defended his position to parliament on Monday. &quot;President Trump has expressed his disagreement with our decision not to get involved in the initial strikes, but it is my duty to judge what is in Britain&#39;s national interest,&quot; he told lawmakers. &quot;That is what I have done and I stand by it,&quot; he added. After initially refusing to have any role in the strikes, Starmer on Sunday announced that he had agreed to a US request to use British military bases for a &quot;specific and limited defensive purpose&quot;. His Downing Street office said Starmer took the decision after Iran fired missiles over the weekend that put British interests and people &quot;at risk&quot;. &quot;We all remember the mistakes of Iraq, and we have learnt those lessons. Any UK actions must always have a lawful basis and a viable thought-through plan,&quot; he added in parliament. The prime minister also said that British military bases in Cyprus &quot;are not being used by US bombers&quot; during the US-Israeli war with Iran. Britain&#39;s Akrotiri air force base on Cyprus came under attack by an unmanned Iranian drone that hit the base&#39;s runway early on Monday. Starmer said the strike &quot;was not in response to any decision that we have taken,&quot; adding that the British government believed the drone &quot;was launched prior to our announcement&quot;. Iran&#39;s approach is becoming &quot;more reckless and more dangerous&quot;, Starmer said. &quot;They are working ruthlessly and deliberately through a plan to strike, not only military targets, but also economic targets in the region, with no regard for civilian casualties. That is the situation we face today and to which we must respond,&quot; he added.

United Kingdom

Trump told The Sun the US-UK relationship is “not like it used to be,” criticizing PM Keir Starmer for denying Cyprus base access in the Iran war, while praising ties with France and Germany.

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