Canada's Carney:

We need to reset our overall relationship with the US.

Trump will fire several National Security Council officials over concerns they’re not “sufficiently loyal”

Source: AP

The latest round of new tariffs unleashed by Donald Trump will hit almost every industry across the globe, setting an unprecedented challenge for businesses already grappling with weak demand and inflationary pressures.

• Autos: 25% tariffs on non-US-made cars. Prices could rise up to $20K per vehicle. BMW, Mercedes, Subaru hit hard.

• Retail: Tariffs up to 49% on goods from Vietnam, Cambodia, etc. Brands like Nike, Adidas, H&M and Pandora impacted. Shein/Temu hurt by end of duty-free imports.

• Luxury: Tariffs mean 6% price hikes in the U.S. for brands like LVMH, Ferragamo. Wealthy shoppers may pivot to buying abroad.

• Pharma: Exempt for now, but Trump threatens future action. Some firms already shifting production to the U.S.

• Aviation: Higher aircraft production costs expected. Boeing and Airbus likely to pass those on to flyers.

• Logistics: Short-term boost from rush orders, but air freight hit by end of low-value import exemptions. Stocks like Maersk, DHL dropped.

The tariffs will raise consumer prices, shake up global supply chains, and hit sectors unevenly — with U.S. consumers likely the biggest losers.

Source: FT

Mass Displacement in Gaza as Israeli Attacks Expand Towards Rafah

Israeli forces pushed into Rafah triggering one of the largest displacements of the war as hundreds of thousands fled. The city, once a last refuge, is now part of a newly declared “security zone” Israel plans to seize.

Rafah "is gone, it is being wiped out," a father of seven among the hundreds of thousands who had fled from Rafah to neighbouring Khan Younis, told Reuters via a chat app.

At least 97 people were killed in the past 24 hours, according to Gaza’s health ministry, including 20 in a dawn airstrike in Shejaia, Gaza City.

Source: Reuters

NEW: Israeli warplanes fly over Quneitra, southern Syria.

Source: Syria TV

Danish Prime Minister Frederiksen:

What is happening right now is not just about Denmark or Greenland. It is about the world order we have built over generations.

NEW: Local sources reported that Israeli aircraft targeted a site in the Kiswah area, located in the countryside of the Syrian capital, Damascus.

Danish Prime Minister Frederiksen:

You cannot annex other countries, not even by arguing of international security.

UPDATE: Israeli airstrikes targeting the 75th Brigade in al-Muqaylibiyah near al-Kiswah.

Source: Local Reports

Danish Prime Minister Frederiksen to the US:

Let us strengthen defence in the Arctic together.

UPDATE:Israeli aircraft conducted at least two airstrikes targeting the al-Kiswah area, south of Damascus.

UPDATE: Israeli aircrafts targeted the area of Salah al-Tair, Saraya al-Sarraa and Brigade 91 in the vicinity of Kiswah in Damascus countryside.

Italian PM Meloni:

I am not convinced best way to respond to tariffs is with our own tariffs.

NEW: The Israeli army, backed by tanks, has entered the vicinity of Ruihina in the central countryside of Quneitra and established a checkpoint.

Simultaneously, three reconnaissance aircraft were observed flying over the town of Koya in the western countryside of Daraa.

US Senator Bernie Sanders:

We are complicit in everything that happens in Gaza.

US Department of Defense Inspector General has launched an investigation into Pete Hegseth’s use of the Signal app to discuss information pertaining to military actions in Yemen.

Trump on market reaction:

It is going very well.

Trump:

Market is going to boom!

BIG: Iran has ordered its military to leave Yemen, distancing from the Houthis to avoid a direct clash with the US amid escalating airstrikes.

Source: The Telegraph

Trump:

Tariffs will generate $7 trillion for our country.