Trump imposes 50 percent tariff on copper imports to protect US industry
US President Trump has signed a proclamation imposing a 50 percent tariff on all imports of semi-finished copper and copper-based products, effective from August 1, Xinhua reported.
The move aims to protect the domestic copper industry, which the White House says is essential to national security and defense production.
The proclamation also authorizes the Commerce Secretary to expand the list of tariffed items and take further action under the Defense Production Act, according to Xinhua.
Following the announcement, US copper futures on Comex fell 20 percent, with markets reacting sharply to the unexpected measure.
India court acquits seven accused in 2008 Malegaon blast case
A court in India has acquitted all seven accused in a deadly bombing that struck a Muslim-majority town in Maharashtra state nearly 17 years ago, BBC reported.
At least six people were killed and nearly a hundred injured in the blasts that hit Malegaon in September 2008.
Among the seven acquitted are Sadhvi Pragya Singh Thakur, a former MP of India's ruling Bharatiya Janata Party (BJP), and a serviceman, Lt Col Shrikant Prasad Purohit.
According to legal portal Live Law, the judge noted that the prosecution failed to prove the motorbike that allegedly triggered the blasts belonged to Thakur, according to BBC.
At least 30 killed by Israeli fire while waiting for aid, Gaza civil defence ministry says
Israeli gunfire killed at least 30 Palestinianswaiting for humanitarian aid in northern Gaza on Wednesday, according to the Hamas-run civil defence agency, BBC reported.
A Gaza civil defence spokesperson told the AFP news agency that Israeli fire wounded around 300 more people. Israel said details of the incident "are still being examined".
The Israeli Defense Forces (IDF) said they fired "warning shots" after Gazans gathered around aid trucks 3km southwest of the Zikim crossing, but they were "not aware of any casualties" from IDF gunfire.
Mohammed Abu Salmiya, director of al-Shifa Hospital in Gaza City, said his facility had received 35 bodies following the incident, according to AFP.
US Fed keeps interest rates unchanged despite pressure from Trump administration
The US Federal Reserve held interest rates unchanged at 4.25–4.5 percent on Wednesday, resisting pressure from President Trump to lower them. The decision came after a regular policy meeting of the Federal Open Market Committee (FOMC)—the Fed’s rate-setting body, Xinhua reported.
The Fed noted moderate economic growth, strong job market conditions, and slightly elevated inflation. US GDP grew 3 percent in Q2 after a 0.5 percent contraction in Q1, while consumer prices rose 2.7 percent in June, partly due to tariffs.
Two FOMC members supported a rate cut, and one abstained. Fed Chair Jerome Powell said no decision has been made for September and reaffirmed the Fed’s independence from political or fiscal pressures, according to Xinhua.
