International

Xi Jinping encourages Latin American and Caribbean countries to reject “external interference”

Chinese President Xi Jinping declared on Tuesday his “support” for Latin American and Caribbean countries to “refuse external interference” and “to follow a path of development according to their national conditions.”

“China supports the nations of the region to defend their national sovereignty and independence,” the president said during his opening speech at the IV China-Celac Meeting of Ministers.

The meeting in Beijing is attended by foreign ministers and representatives of the Community of Latin American and Caribbean States (Celac) and, in an unprecedented way, the presidents of Brazil, Chile and Colombia, the latter country that exercises the rotating presidency of the bloc.

According to the Chinese leader, his country and those of Latin America and the Caribbean are “important members of the Global South” and that they must “remain united in the face of growing geopolitical tensions, confrontations between blocs” and the “growing currents of unilateralism and protectionism”.

“We will work with the countries of Latin America and the Caribbean to firmly safeguard the international system and speak with one voice in international and regional affairs,” he stressed.

20260224_estafa_mh_728x90

“Development and revitalization are our inherent rights, and equity and justice are our common aspirations” in the face of “geopolitical turbulence and confrontation,” said Xi, who highlighted the joint work “to practice true multilateralism, safeguarding equity and international justice and promote the reform of the global governance system to promote multipolarity.”

The president recalled that last year the trade volume between China and the region exceeded 500 billion dollars for the first time and said that his country wants to continue developing mutual support with Latin America and the Caribbean on issues that affect their “main interests and concerns”.

Thus, he said that his country will provide credits to the region worth 9 billion dollars and will strengthen cooperation in security and law enforcement.

“We must strengthen exchanges in the various areas and strengthen communication and coordination on international and regional issues of importance,” said Xi, who announced that in the next three years Beijing will annually invite 300 leaders of political parties from the CELAC member countries to visit China to “exchange experiences on governance”.

After the inauguration, Xi will offer a lunch to the attendees, which will be followed by the plenary session of the meeting, which will be held behind closed doors and will end with the adoption of a joint statement.

20260224_estafa_mh_728x90

The main topics of the meeting will be ‘Electrical Interconnection and Renewable Energies’ and ‘Trade Integration’, two headings that align with two key objectives of China in Latin America: to promote its New Silk Roads (BRI) initiative and ensure access to valuable natural resources in the region such as lithium, rare earths, oil or copper.

The Chinese president declared that “intimidating and arrogant practices only serve to isolate himself” in his first statements after the tariff reduction agreement reached between his country and the United States to stop the trade war.

Xi insisted during his inaugural speech at the IV Ministerial Forum of China and the Community of Latin American and Caribbean States (CELAC) that “there are no winners in a trade war”, a day after Washington and Beijing announced a truce that includes the reduction to 30% and 10% of the levies.

“Faced with a situation of multiple intertwined risks, only through solidarity and cooperation can peace and global stability be protected,” said the Chinese president in the presence of the presidents of Brazil, Chile and Colombia, who attend the meeting.

The statements come after China and the United States closed an agreement in Switzerland to reduce their mutual tariffs by 115% for 90 days, a step seen as the beginning of a process to repair their trade differences.

20260224_estafa_mh_728x90

The United States agreed to reduce its tariffs for Chinese products from 145% to 30%, while China agreed to lower them to 10% compared to the 125% that was in force.

This reduction will come into force next Wednesday, May 14, and in principle for a period of 90 days, in which both countries will try to resolve other outstanding issues of their economic and trade relations.

Likewise, US President Donald Trump said on Monday that the relationship with China is “very good” and assured that he would talk to his counterpart Xi, “perhaps at the end of the week.”

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

20260224_estafa_mh_728x90

“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

20260224_estafa_mh_728x90

International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.