Geopolitical and Diplomatic Developments

Recognition of Palestinian State:

Both the UK and Canada have announced their intention to recognize a Palestinian state at the UN General Assembly in September, provided certain conditions are met, sparking strong reactions, including from Israeli leadership.

US Sanctions and Tariffs:

President Trump has announced a 25% tariff on imports from India, with an additional unspecified "penalty," and has also signed an order to impose 50% tariffs on Brazilian imports and 15% on South Korean imports. He also suspended the "de minimis exemption" for low-value imports, meaning low-value parcels from other countries will no longer evade tariffs.

The US has sanctioned a Brazilian Supreme Court Justice overseeing a case against former President Jair Bolsonaro.

There's an ongoing focus on the US-Canada-Mexico trade war and the broader US tariff policy.