Iran Deal Must Include Blowing Up and Dismantling Nuclear Sites, demands Netanyahu

According to media reports, Israeli Prime Minister Benjamin Netanyahu has issued a firm warning regarding any future nuclear agreement with Iran, stating that only a Libya-style disarmament approach would be acceptable. Speaking Tuesday just before departing Washington, Netanyahu emphasized that Iran’s nuclear program must be physically dismantled and destroyed under direct American supervision.

“We agree that Iran will not have nuclear weapons,” Netanyahu declared. “This can be done by agreement, but only if this agreement is Libyan-style: They go in, blow up the installations, dismantle all of the equipment under American supervision and carried out by America this would be good.”

The remarks come ahead of renewed nuclear talks between Iran and the United States in Muscat, Oman. While President Trump described the negotiations as “direct,” Iran insists they will be indirect, facilitated through mediators.

Trump, speaking alongside Netanyahu in the Oval Office on Monday, underscored his administration’s uncompromising stance, “Iran cannot have a nuclear weapon. If it can be done diplomatically in a full way, the way it was done in Libya, I think that would be a good thing.”

Netanyahu also highlighted several other strategic discussions held with Trump, including the ongoing war against Hamas in Gaza. He reiterated Israel’s dual objectives, “We are determined to eliminate Hamas, and at the same time, we are determined to return all of our hostages.”

Addressing critics, Netanyahu said, “The president looked at me and told the journalists who were present ‘This man is working constantly to free the hostages.’ I hope that this shatters the lie… that I don’t care. I do care, and we will be successful.”

Netanyahu also disclosed discussions on the future of the Gaza Strip, revealing that Israel is in dialogue with several countries about accepting Palestinian civilians. “In the end, this is what needs to happen,” he said.

The prime minister voiced concern about Turkey’s intentions to establish military bases in Syria, which he warned would threaten Israel. “We oppose this and are working against it,” he told Trump.

Finally, Netanyahu praised Trump’s economic diplomacy, stating that Israel would work to eliminate its trade deficit with the United States. “This is the little that we can do for the US and its president, who does so much for us.”

Describing the visit as “very warm,” Netanyahu hinted that more developments are forthcoming, “There were additional things that you will hear about later.”

 

 

Southeast Asian rice farmers struggle against Indian exports

According to Nikkei Asia, prices in Southeast Asian rice markets are plunging because of oversupply after India resumed exports of the staple grain. White rice export prices in Thailand were US$412 a ton this month, according to the Thai Rice Exporters Association, down 31% from US$599 per ton a year ago. This is the largest price drop in 11 years for the month of April.

In September 2024, New Delhi lifted export restrictions on white rice other than basmati that had been in place since July 2023. India last month also started allowing exports of cheaper broken rice, used in processed food. Most analysts say the international price of white rice will continue to drop.

Thailand is the world's second-largest rice exporter by volume, according to data from the 2022-2023 season. Agriculture accounts for less than 10% of gross domestic product, but a lack of willingness by Thai rice farmers to grow the crop will affect food security at home and abroad.

Last month about 300 farmers demonstrated in Bangkok, calling on the government to act on cratering prices. "If the rice fields die, the country dies," read a sign at the gathering.

A woman in her 50s who was demonstrating demanded the resignation of Commerce Minister Pichai Naripthaphan, whose ministry is in charge of exports.

"The government doesn't care about the plight of farmers," she said.

In Vietnam, the world's third-largest rice exporter, prices have fallen steeply as well. Export prices are currently around US$400 a ton, about 40% lower as compared with the end of 2023, according to the Vietnam Food Association.

Vietnamese media report prices are at the lowest point in nine years. In some cases, Vietnamese rice is cheaper than Thai or Indian varieties. Some expect this year's export volume to be 20% lower than last year.

India is the world's leading exporter, accounting for 40% of the global share, according to the US Department of Agriculture. Exports from India surpass those of Thailand and Vietnam combined.

Measures taken by importing nations are also hurting farmers in Thailand and Vietnam.

Indonesia, the world's fourth-largest rice consumer, will halt imports this year. President Prabowo Subianto, who took office in October 2024, is promoting more agriculture to make good on a pledge to attain food self-sufficiency by early 2026.

The Philippines declared a food security emergency in February 2025 in an attempt to control inflation. The government released rice stockpiles into the market, lowering prices.

In recent weeks, there appears to be an increasing number of rice importers in the Philippines attempting to negotiate lower prices.

"Because rice is the staple food in Southeast Asia, rice prices are an issue that directly affects people's lives," said Tetsuya Kaneko, chief analyst at the Marubeni Research Institute. "With importing countries trending toward improving self-sufficiency rates, export volumes from countries such as Thailand and Vietnam will face downward pressure in the medium to long term."

Rice exporters are taking steps to mitigate the fallout. Last month, the Thai government said it held talks with India and Vietnam to stabilize export prices by adjusting export volumes and avoiding excess competition.

No concrete agreement has been reached, but the parties intend to continue discussions.

Vietnamese Prime Minister Pham Minh Chinh called on financial institutions to support farmers by easing interest rates. The Ministry of Finance is set to provide tax relief for rice producers.

Japan, which is facing a historic rice shortage, hosted an international food expo in March 2025 where the government of Thailand promoted its rice. Vietnam has also identified Japan as a promising export destination on par with the United States and Africa.

Unlike Thailand and Vietnam where long-grain rice is the norm, Japan consumes mostly short-grain varieties. This wrinkle explains much of the discrepancies between the three markets.

Kenichi Shimomura, head of the Asia Japan desk at the German consultancy Roland Berger, says Japan rice demand is greater than what was witnessed during the rice shortage in the early 1990s. Japan imported Thai rice on an emergency basis back then.

"The key is how much cheaper imports can be compared to Japanese rice," said Shimomura.

 

 

US imposes China centric global trade war

US President Donald Trump's stunning decision to pause the hefty duties he had just imposed on dozens of countries sent battered global stock markets surging on Thursday, even as he ratcheted up a trade war with China.

Trump's turnabout on Wednesday, which came less than 24 hours after steep new tariffs kicked in on most trading partners, followed the most intense episode of financial market volatility since the early days of the COVID-19 pandemic.

The upheaval erased trillions of dollars from stock markets and led to an unsettling surge in US government bond yields that appeared to catch Trump's attention.

"I thought that people were jumping a little bit out of line, they were getting yippy, you know," Trump told reporters after the announcement, referring to jitters sportspeople sometimes get.

US stock indexes shot higher on the news, with the benchmark S&P 500, opens new tab index closing 9.5% higher, and the relief continued into Asian trading on Thursday with Japan's Nikkei index surging 8%.

European futures also pointed to big gains, but there were already signs the rally may be short-lived with US stock futures trading lower. Oil prices also fell around 1%, extending a grim spell fuelled by fears that the trade tensions could push the global economy towards recession

Since returning to the White House in January, Trump has repeatedly threatened an array of punitive measures on trading partners, only to revoke some of them at the last minute. The on-again, off-again approach has baffled world leaders and spooked business executives.

US Treasury Secretary Scott Bessent asserted that the pullback had been the plan all along to bring countries to the bargaining table. Trump, though, later indicated that the near-panic in markets that had unfolded since his April 02 announcements had factored in to his thinking.

Despite insisting for days that his policies would never change, he told reporters on Wednesday، "You have to be flexible."

But he kept the pressure on China, the world's second economy and second biggest provider of US imports. Trump immediately hiked the tariff on Chinese imports to 125% from the 104% level that kicked in on Wednesday.

Chinese companies that sell products on Amazon are preparing to hike prices for the US or quit that market due to the "unprecedented blow" from the tariffs, the head of China's largest e-commerce association said.

Beijing may again respond in kind after slapping 84% tariffs on US imports on Wednesday to match Trump's earlier tariff salvo. It has repeatedly vowed to "fight to the end" in the escalating trade war between the world's top two economies.

"The US and China are currently in a powerplay game of brinkmanship," said ING global head of markets Chris Turner.

Beijing said it had held talks with the European Union and Malaysia on strengthening trade in response to the tensions, although Australia said it had rebuffed an offer from China, its top trading partner, to work together to counter the tariffs.

"We are not going to be holding hands with China in respect of any contest that is going on in the world," Deputy Prime Minister Richard Marles told Sky News.

Hopes of state support helped prop up Chinese stocks on Thursday, even as its yuan currency fell to its weakest level since the global financial crisis.

 

 

 

 

China calls for world to unite against Trump's trade tyranny

According to a BBC report, China has called for the world to unite against US President Donald Trump's tariffs as the country's exporter reel from crippling new US levies that have risen to 104%.

"Global unity can triumph over trade tyranny," declared an editorial in the state-run newspaper China Daily, noting Beijing's collaborations with Japan, South Korea and other Asian economies. A separate piece called for the European Union to work with it to "uphold free trade and multilateralism".

Beijing "firmly opposes and will never accept such hegemonic and bullying practices," foregin ministry spokesperson Lin Jian told reporters on Wednesday.

The tariffs come at a difficult time for China's sluggish economy: domestic consumption remains weak and exports are still a major driver of growth.

The sweeping nature of Trump's tariffs has also left Chinese businesses scrambling to adjust their supply chains — with most countries affected, firms say it's hard to find a way out of this uncertainty.

The tariffs will shrink "already razor-thin profit margins", said the owner of a Chinese business that handles cross-border logistics for e-commerce, as well as air and sea freight.

"Higher tariffs raise costs for freight forwarders like us, as well as for factories, companies, and sellers. It just means everyone earns less."

Any tariff upwards of 35% will wipe out all the profits that Chinese businesses make when exporting to the US or South East Asia, said Dan Wang from the Eurasia Group consultancy.

"Growth is going to be much lower since exports contributed to 20% to 50% of growth since the Covid pandemic," she added.

The Chinese government has not announced retaliatory measures but Beijing is reportedly considering banning Hollywood films and suspending fentanyl cooperation with the US, according to Chinese blogger Liu Hong, who is a senior editor at state-run Xinhua news.

But that would offer little comfort to firms like Fuling, a firm that sells disposable tableware to US fast food restaurants like McDonald's and Wendy's, said the additional tariffs will "significantly impact" its business. It noted that nearly two-thirds of the company's revenue in 2023 and the first half of last year came from the US.

To mitigate the impact of tariffs, Fuling, which is headquartered in China's Zhejiang province, started a new factory in Indonesia late last year.

But Trump's new tariffs have introduced more uncertainty for Chinese exports from Indonesia are now subject to a 32% levy, the company said in a corporate filing.

Indonesia was hit along with much of the world in President Trump's announcement of expansive tariffs last week, which he claimed would allow the US economy to flourish.

But economists have warned of a US and global recession. The tariffs have also shaken global markets and drawn criticism from billionaire CEOs, including Trump's ally Elon Musk.

Trump's import taxes include a 10% baseline tariff on almost all foreign imports to the US, and higher custom tariffs for what he calls the "worst offenders". These include Cambodia (49%), Vietnam (46%) and Thailand (36%), developing economies that have benefited from strong exports.

After Beijing announced tit-for-tat tariffs, Trump raised the levies on Chinese imports, more than doubling them to 104%.

Emo told the BBC he is holding out hope that China will be able to negotiate away some of these taxes: "Only when a final decision is made can we plan our next steps."

While China has left the door open for talks, Trump has not spoken to Chinese leader Xi Jinping since returning to the White House.

Such broad, sweeping tariffs will cause more harm than good, the American Chamber of Commerce in China said in a note to its member companies on Wednesday.

"This level of upheaval is unprecedented, and it remains unclear how the current measures will benefit consumers in either nation or the broader economy," read the note signed by Chair Alvin Liu and President Michael Hart.

Some analysts believe the levies will force China to restructure its economy and rely heavily on domestic consumption, which it has been struggling to boost.

Otherwise, the tariffs will not be sustainable for China in the longer term, Tim Waterer from brokerage KCM Trade said.

"The tariffs are aimed at suppressing China," said the manager of a Chinese freight company.

Wu Changchun added that many of the South East Asian countries that have been hit with steep tariffs are "exactly where many Chinese businesses have relocated", such as Vietnam and Cambodia.

The Tianjin-based company plans to negotiate with some of its American clients to share the burden of the tariffs. "Every case is different, but overall, the impact has been quite substantial," he said.

Wu, whose company operates mainly on shipping routes between China and Cambodia, said he is already seeing a fall in freight volume.

Several construction projects in Cambodia have also come to a halt after Trump's tariffs announcement, he said.

"If the tariffs were at 10% or 20%, businesses might still be able to absorb the cost by optimizing supply chains, cutting margins and sharing the burden. Trade could still go on... [But at 104%] that's no longer something trade-offs can fix," said Wu, a general manager at Maritima Maruba.

"That's full-on decoupling. Trade would basically come to a standstill."

Around 25% tunnels in Gaza destroyed

According to The Jerusalem Post, IDF has only destroyed about a quarter of Hamas’s tunnels in Gaza. Security sources also added that a significant number of smuggling tunnels crossing from Egypt to the Gaza strip are still intact. The Egypt-Gaza border remains a point of contention, with concerns over weapons smuggling resulting in Israel’s refusal to withdraw from the Philadelphia Corridor. 

“I saw with my own eyes quite a few tunnels crossing into Egypt; some were closed, and several were open,” Defense Minister Israel Katz said at a February conference, according to N12.

“We had information that Hamas was planning to attack soldiers and settlements during the ceasefire.”

Despite efforts to control the corridor as a buffer zone, numerous experts argue that holding the border may not effectively stop the flow of weapons.

The report follows the recent resumption of combat operations in the Gaza Strip and a military order issued in late March directing residents of Rafah in southern Gaza to evacuate.

The IDF had previously withdrawn troops from Rafah after a ceasefire was agreed upon in January, though that ceasefire has since expired.

Less than two weeks ago, the IDF reported that Yahalom Unit troops dismantled a one-kilometer-long Hamas tunnel route. Currently, the 143rd, 252nd, and 36th IDF divisions are operating in the area.

The IDF also told N12 that it has detected a significant number of Hamas terrorists fleeing combat zones. These terrorists are reportedly hiding among civilian populations and within tunnels, likely trying to avoid direct contact with soldiers.

The military noted that its operations in Gaza have become more decentralized, with limited face-to-face combat, although it assumes this will be temporary. The IDF believes Hamas will eventually be forced to engage in direct confrontation again.

“IDF troops, under the leadership of the Southern Command, are deepening the operation, and this will continue at a deliberate and determined pace,” said Chief of the General Staff, Lt.-Gen Eyal Zamir.

“The only thing that can halt our advance is the release of our hostages. Their return would allow our forces to reposition and enable the continuation of negotiation.” 

 

 

 

 

Saudi Arabia announces oil and gas discoveries

Minister of Energy Prince Abdulaziz bin Salman announced on Wednesday that the Saudi-Aramco has discovered 14 Arabian oil and natural gas fields and reservoirs in the Eastern Province and the Empty Quarter. The discoveries include six fields and two reservoirs of Arabian oil, as well as two fields and four reservoirs of natural gas, reports the Saudi Gazette.

The minister extended his congratulations to Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed bin Salman on these discoveries, expressing his wishes for continued growth, development, and prosperity of Saudi Arabia and its people.

Prince Abdulaziz stated that Jabu oil field has been discovered in Eastern Province, following the flow of Arabian Extra Light Oil in Jabu-1 well at a rate of 800 barrels per day (bpd). Sayahid oil field was also discovered, where Arabian Extra Light Oil flowed in Sayahid-2 well at a rate of 630 bpd. Additionally, Ayfan oil field was discovered, where Arabian Extra Light Oil in Ayfan-2 well flowed at a rate of 2,840 bpd, with 0.44 million standard cubic feet (MMscf) of associated gas per day.

He said that Jubaila oil reservoir has been discovered in Berri field after Arabian Light Oil flowed in Berri-907 well at a rate of 520 bpd, associated with 0.2 MMscf of gas per day. In addition, Unayzah-A oil reservoir was discovered in Mazalij field after the flow of Arabian Super Light Oil in Mazalij-64 well at a rate of 1,011 bpd, along with 0.92 MMscf of associated gas per day.

In the Empty Quarter, Nuwayr oil field has been discovered after the flow of Arabian Medium Oil in Nuwayr-1 well at a rate of 1,800 bpd, with 0.55 MMscf of associated gas per day. Additionally, the oil field Damda was discovered, where Arabian Medium Oil flowed in Damda-1 well at a rate of 200 bpd from Mishrif-C reservoir, while Arabian Extra Light Oil flowed from Mishrif-D reservoir in the same well at a rate of 115 bpd. Also, the discovery of Qurqas oil field was confirmed after Arabian Medium Oil flowed in Qurqas-1 well at a rate of 210 bpd.

For natural gas, the minister of energy announced the discovery of Ghizlan gas field in the Eastern Province, where gas flowed in Ghizlan-1 well at a rate of 32 MMscf per day from Unayzah B/C reservoir, with 2,525 barrels of condensate. Also, Araam gas field was discovered after gas flowed in Araam-1 well from Unayzah B/C reservoir at a rate of 24 MMscf per day with 3,000 barrels of condensate.

Qusaiba unconventional gas reservoir was also discovered in Mihwaz field in the Eastern Province, where gas flowed in Mihwaz-193101 well at a rate of 3.5 MMscf per day, with 485 barrels of condensates. In the Empty Quarter, Arab-C gas reservoir was discovered in Marzouq field, where gas flowed in Marzouq-8 well at a rate of 9.5 MMscf per day. The same well also resulted in the discovery of Arab-D gas reservoir, after the flow of gas at a rate of 10 MMscf per day. Additionally, the Upper Jubaila gas reservoir was discovered from the same well, where gas flowed at a rate of 1.5 MMscf per day.

Prince Abdulaziz underscored on the importance of the added value that these discoveries represent, solidifying the Kingdom’s leading position in the global energy sector, and reinforcing its rich hydrocarbon potential. Citing that such discoveries will lead to opening new horizons for the Kingdom’s economic development and strengthening its ability to meet both domestic and global energy demand efficiently and sustainably for decades to come. "These discoveries will also support sustained economic growth and prosperity, in line with Vision 2030 and Saudi Arabia’s ambitious goals to fully harness its natural resources and enhance global energy security," the minister added.

 

 

Freeing Panama Canal from Chinese influence

The United States will free the Panama Canal from Chinese influence, US Defense Secretary Pete Hegseth said on Tuesday during a visit to the Central American nation.

After talks with Panaman government, Hegseth vowed to deepen security cooperation with Panamanian security forces and said China would not be allowed to "weaponize" the canal by using Chinese firms' commercial relationships for espionage.

"Together, we will take back the Panama Canal from China's influence," Hegseth said, speaking at a pier renovated with U.S. assistance in Panama City.

"China did not build this canal. China does not operate this canal and China will not weaponize this canal. Together with Panama in the lead, we will keep the canal secure and available for all nations."

More than 40% of US container traffic, valued at roughly US$270 billion a year, goes through the Panama Canal, accounting for more than two-thirds of vessels passing each day through the world's second-busiest interoceanic waterway.

Hegseth, the first US defense secretary in decades to visit Panama, flew over the canal in a Black Hawk helicopter after meeting US troops and Panamanian security forces. He also toured the Miraflores lock, waving to sailors passing through on a container ship.

His language appeared fine-tuned, talking tough but offering some assurances to Panamanians still unsettled by Trump’s threats to reclaim the canal.

While Hegseth spoke about removing Chinese influence, Trump has spoken in broader terms and not ruled out using military force.

Hegseth's trip follows reports that the Trump administration has requested options from the US military to ensure access to the canal, which the United States built more than a century ago and handed over to Panama in 1999.

Trump has complained that was a bad deal for the United States.

Given Trump's tough rhetoric, the stakes were high for Hegseth's visit.

"On the whole, this hasn't been a winning issue for the United States in terms of public diplomacy in Panama," said Ryan Berg, director of the Americas Program at the Center for Strategic and International Studies.

Still, current and former US officials and experts say the United States has found a willing partner in tackling Chinese influence in Panama's President Jose Raul Mulino, whom Hegseth met earlier on Tuesday.

In February, Mulino announced Panama's formal move to exit China's Belt and Road Initiative and he has aided Trump's crackdown on migrants.

He has accepted deportation flights of non-Panamanians and worked to stem migration from South America by those crossing through his country's dangerous Darien jungle.

Hegseth praised Mulino, saying his government understood the threat from China, and his remarks about Panama being in the lead on addressing the canal's security concerns appeared to be a nod to Panamanian sensitivities.

During his visits to bases, which once had names including Fort Sherman and Rodman Naval Station before the US exit, Hegseth spoke about the canal as "key terrain" and held out hope for more frequent engagements by US troops, including by revitalizing a jungle survival training center.

"In reality or in perception, the communist Chinese have had designs on more control of this canal, and to that we say Not on our watch," Hegseth told US troops and Panamanian security forces. "We will grow our partnership even more."

Hegseth, a US military veteran and former Fox News host, has enthusiastically backed Trump's southern-focused security agenda, by means such as dispatching U.S. troops to the US border with Mexico, offering space at a base at Guantanamo Bay, Cuba to detain migrants, and military aircraft for deportation flights.