Good morning. The US is reportedly pushing the EU to cut its own tariffs first. The Trump administration bars foreign students from Harvard. And Spain pushes ahead for a 100% tax for non-EU home buyers. Listen to the day’s top stories.
The US is pushing the EU to make unilateral tariff reductions or face reciprocal duties of 20%, the FT reported. Washington will tell Brussels today that Europe’s focus on mutual tariff reductions falls short of US expectations, the report said.
Harvard was ordered by the Trump administration to stop enrolling international students. Current students from abroad—almost 27% of the student body—must transfer or lose their legal status. The school called the action unlawful, while thousands of students were thrust into limbo.
The US Supreme Court shielded the Federal Reserve from Donald Trump’s push to oust top officials at independent federal agencies. The decision may help quell concerns about the president potentially firing central bank chief Jerome Powell.
Russia doused Trump’s desire for Pope Leo XIV to mediate peace talks between Moscow and Kyiv. Russia prefers to continue negotiations in Istanbul, a person familiar said.
Spain’s government is pushing ahead with a proposal to hit non-European Union residents with a 100% tax when buying homes, as it seeks to tackle a brewing housing crisis.
Jensen Huang’s vision for Chinese and American tech cooperation shouldn’t be considered taboo, Catherine Thorbecke writes. The Nvidia chief executive’s techno-optimism is contagious, and perhaps the future of computing doesn’t have to be winner-take-all.
Cempedak, a private island off the coast of Bintan. Source: Cempedak Island
A cluster of island resorts near Singapore are under threat from a Chinese aluminum giant. Nanshan’s plans to build a massive smelting complex on the Indonesian islands have sparked protests as the project threatens pristine ecosystems.
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