Trump Shifts Stance on Russia, Escalates Trade Tensions

The US has resumed sending weapons to Ukraine after a brief pause, but the shipments are not coming fast enough to stop Russia's ongoing drone and missile strikes. Russia launched hundreds of drones and over a dozen missiles at Ukraine, killing two people and wounding 13, as Ukrainian President Volodymyr Zelenskyy called for more international support, including a Marshall Plan for Ukraine's reconstruction. Zelenskyy met with Keith Kellogg, President Trump's special envoy for Ukraine, to discuss additional US support, including more weapons deliveries and harsher sanctions against Russia. The US has confirmed that shipments of some munitions, including 155mm artillery rounds and precision-guided GMLRS rockets, have resumed flowing to Ukraine. Meanwhile, US Secretary of State Marco Rubio met with Russian Foreign Minister Sergey Lavrov, exchanging new ideas to reach a deal to end the Ukraine war, but offered no details on the proposals.

Despite sanctions and pressure from the West, Russia continues to push on with its war effort in Ukraine. President Vladimir Putin remains determined to press on, intensifying attacks on land and in the air, despite tough language from US President Donald Trump. The BBC's Russian Editor Steve Rosenberg reports on the mood in Russia.

At least one person was killed in a Russian drone attack just hours after US President Donald Trump pledged more military aid to Kyiv and criticized Russian President Vladimir Putin for making what Trump deemed insincere comments regarding negotiations for peace. The US had paused shipments of defensive weapons the week before, which he said would be resumed.

Russian Foreign Minister Sergey Lavrov is set to visit North Korea on July 11-13 for strategic talks with his North Korean counterpart, deepening ties between Moscow and Pyongyang as North Korea becomes increasingly entangled in Russia's war in Ukraine. North Korea is expected to deploy an additional 25,000 to 30,000 soldiers to assist Russia, adding to the estimated 11,000 already sent. The visit could strengthen the alliance between Russia and North Korea, potentially reshaping the war in Ukraine and the security dynamic in Asia, as the US has grown increasingly frustrated with Russia and pledged more support for Ukraine.

President Donald Trump stated that he has made a deal with NATO for the US to send weapons to Ukraine, with NATO covering the full cost. Trump mentioned that the US would send Patriots to NATO, which would then distribute them to Ukraine. This comes as NATO Secretary General Mark Rutte and US Secretary of State Marco Rubio discussed providing Ukraine with more ammunition and air defenses, including potentially sharing Patriot batteries. Trump also hinted at making a major statement on Russia on Monday.

Secretary of Defense Pete Hegseth authorized a halt on weapons shipments to Ukraine without the White House's knowledge, sparking a reaction within the government. During the meeting, Trump expressed frustration with Putin, stating that Moscow throws “bulls***” at the US. The pause on Ukraine aid was later questioned by CNN's Kaitlan Collins, who asked him to explain the pause. The decision was criticized by Sen. Thom Tillis, who suggested Hegseth was "out of his depths" as Defense Secretary.

US President Donald Trump has shifted from praising Russian leader Vladimir Putin to criticizing him, marking a significant change in his stance on the Russia-Ukraine conflict. Trump has now acknowledged that Putin is not interested in a peace deal and has instead intensified drone attacks on Kyiv. Trump has announced plans to send new Patriot anti-missile missiles to Ukraine through NATO, a move that could bolster Ukraine's defenses. However, it remains unclear how long Trump's hostility towards Putin will last and whether he will commit to providing significant military and financial aid to Ukraine. Analysts suggest that Trump may now be willing to put more pressure on Russia, including increasing US arms and ammunition to Ukraine and imposing tougher sanctions on Russia. Trump's change in stance may be driven by his frustration at being deprived of a deal that would bolster his own reputation as a peacemaker, but it could also mark a more strategic shift in US policy on the war.

Secretary of State Marco Rubio met with Russian Foreign Minister Sergei Lavrov on the sidelines of the ASEAN conference in Malaysia and discussed a "new" and "different" approach to ending the nearly three-and-a-half-year war in Ukraine. Rubio stated that the discussion did not guarantee peace but was a concept he would take back to President Donald Trump, who is growing increasingly frustrated with Russia's lack of flexibility in negotiations. Rubio conveyed Trump's disappointment and frustration to Lavrov, emphasizing the need for a roadmap to conclude the conflict.

US Secretary of State Marco Rubio is attempting to reassure Southeast Asian nations of Washington's commitment to the region, despite the looming threat of severe tariffs imposed by President Donald Trump. The region is among the worst hit by Trump's trade war, with countries such as Thailand, Malaysia, and Indonesia facing tariffs ranging from 20-40%. Rubio claimed that Southeast Asian countries may receive "better" trade deals than other parts of the world, but analysts say his words are unlikely to persuade ASEAN ministers. The tariffs have raised questions over the US commitment to the region, potentially benefiting China, which has completed negotiations with ASEAN to refine their free trade area.

President Donald Trump has threatened to impose a 35% tariff on goods imported from Canada, escalating a trade war with America's northern neighbor. Trump also suggested that blanket tariffs on other US trading partners may be doubled, potentially rising from 10% to 20%. The tariffs, set to take effect on August 1, could have significant implications for trade between the two countries, with Canada being the top buyer of US exported goods and the third-highest source of foreign goods imported by the US. Canada has been a longstanding trading partner with the US, and the tariffs may lead to retaliatory measures, potentially harming both economies. Trump's announcement is part of a broader trend of aggressive trade policies, with the US having sent letters to nearly two dozen countries informing them of potential tariffs. The move has been met with criticism from Canadian leaders, including Prime Minister Mark Carney, who has defended Canadian workers and businesses.

US President Donald Trump has threatened to impose a 35% tariff on Canadian goods starting August 1, despite ongoing trade negotiations between the two countries. Trump's announcement came in a letter published on his social media platform, Truth Social, and was accompanied by threats of tariffs on other US trade partners. Canadian Prime Minister Mark Carney responded, saying his government would continue to protect Canadian workers and businesses as they work towards a new trade deal by the July 21 deadline. Trump tied the tariffs to Canada's alleged failure to stop the flow of fentanyl into the US, as well as existing levies on US dairy farmers and the trade deficit between the two countries.

US President Donald Trump plans to impose a 35% tariff on Canadian goods and warned of a potential 15-20% blanket tariff on other countries. Trump claimed the tariffs are a response to Canada's trade policies and fentanyl smuggling. Canada's Prime Minister Mark Carney responded, stating that his government will continue to defend Canadian workers and businesses. Trump has sent similar tariff letters to 23 countries, with higher rates set to take effect on August 1. Trump also teased a "major statement" on Russia's war with Ukraine, to be made on Monday.

The Trump administration has threatened to impose a 25% tariff on Kazakhstan's exports to the US unless it strikes a trade deal by August 1. Kazakhstan, a resource-rich country bordering Russia and China, does minimal trade with the US, and over 90% of its exports are exempt from the tariff. The country has been courting Western investment to diversify its economy and reduce reliance on its powerful neighbors. The tariffs will affect less than $100 million worth of Kazakh products, and Kazakhstan has sent proposals to the Trump administration to improve trade relations. The move is seen as a potential threat to Kazakhstan's efforts to attract Western investment and may drive the country closer to China and Russia.

President Trump threatened to impose a 35 percent tariff on Canadian imports, potentially upending ongoing trade talks between the two countries. Trump posted a letter to Canadian Prime Minister Mark Carney on social media, stating that the new tariff rate would take effect on August 1, although it was unclear if it would apply to all Canadian goods. The move could harm Canada's export-dependent economy, which relies heavily on the US. Canada's ambassador to the US, Kirsten Hillman, said Canadian officials have been in daily communication with their US counterparts since talks resumed after a brief pause. Trump's latest threat follows his imposition of a 25 percent tariff on Canadian imports earlier, which was later exempted for most products qualifying as North American under the US-Mexico-Canada Agreement.

European stock markets are expected to open lower on Friday as investors react to news that US President Donald Trump will impose tariffs on imports from Canada and is expected to outline tariffs on the European Union. BP shares may be impacted after the company flagged lower oil and gas sales and an impairment of up to $1.5 billion in its second-quarter results. The UK economy also unexpectedly contracted again in May, shrinking 0.1%. The Stoxx 600 index had gained for four consecutive days prior to the expected lower open.

U.S. equity futures fell on July 10 after President Donald Trump announced 35% tariffs on Canada starting August 1. Despite this, the S&P 500 and Nasdaq Composite reached new closing records on July 9, with the S&P gaining 0.27% to 6,280.46 and the Nasdaq rising 0.09% to 20,630.67. The Dow advanced 192 points, or 0.43%, to 44,650.64. Investors are looking ahead to the Treasury Department's monthly treasury statement on July 11. Stocks like Levi Strauss and PriceSmart rose after hours due to better-than-expected earnings, while bitcoin-related stocks also gained as the cryptocurrency reached new records.