News

According to the Financial Times, Ireland is considering nuclear power to meet the growing electricity demand from data centers.

Iranian President Pesshizian: Washington made the mistake of predicting before the war that Iran would fall under American aggression and become like Venezuela.

Canadian Prime Minister Carney: Trump “misjudged the situation” and escalated the tariff offensive, putting Canada and the United States “at war” on trade issues.

US President Trump: Canada has also imposed heavy tariffs on our farmers for many years.

Alibaba (09988.HK) announced its plan to place new shares in Hong Kong, with a total placement amount of HK$80 billion.

Market news: Canadian Prime Minister Carney held an online meeting with provincial and territorial chiefs to discuss countermeasures against tariffs.

Market news: Germany, Italy, Austria, Poland, Portugal and Spain are stepping up their efforts to impose a windfall profits tax on oil companies across the European Union.

Former U.S. diplomat Joey Hood: I don't believe Trump's claims about U.S. control of the Strait of Hormuz. Currently, countries are taking "different measures" to deal with the chaotic situation there.

According to the Washington Post, the number of U.S. soldiers wounded or killed in the war with Iran has risen to 774.

The secretary of Iran's Supreme National Security Council stated that Tehran will not succumb to US economic pressure and the Strait of Hormuz will remain closed until Washington fulfills its commitments.

Hungarian Prime Minister Péter Majol announced on the 22nd that, thanks to emergency engineering work and the rising water level of the Danube River, Unit 3 of the country's only nuclear power plant, the Pakš Nuclear Power Plant, had resumed power generation that day.

Over the past two weeks, the number of ships passing through the Strait of Hormuz has surged by nearly 400%, and Iran appears to be losing control of this crucial waterway—more and more ships are using the US-backed route through the strait. Data from the UK's Office for Maritime Trade Operations shows that nearly 200 ships passed through the strait last week, up from 150 the previous week and 40 two weeks ago. This increase brings the total throughput of the channel back to about 20% of pre-war levels. Data from maritime news agency Kpler shows that over 80% of liquid cargo transported through the Strait of Hormuz in the past two weeks either chose the Oman route—a US-backed route approved by the UN International Maritime Organization but rejected by Iran—or entered a "dark state," likely also via this route. "Iran appears to have at least partially lost control of the strait," said Homayoun Falakshahi, head of crude oil analysis at Kpler. Dan Pickering, founder of Pickering Energy Partners, added, "The Oman route is absolutely the most logical option," noting that it allows ships to avoid paying tolls to Tehran. Over the past seven days, 103 ships entered the Strait of Hormuz and 89 exited, a 27% increase from 76 entering and 75 exiting a week ago. This change is even more pronounced compared to two weeks ago, when only 18 ships entered and 21 exited. Most of the ships transiting the strait fly the flags of US allies Panama and Liberia, although the flags only indicate the ship's place of registration, not the location of the shipowner's company. About half of the ships are oil tankers, with the remainder being dry cargo ships. In the past week, five ships were attacked by Iranian artillery fire, resulting in two casualties. These ships were reportedly damaged but not sunk. Since May, the US has been quietly escorting oil tankers through the Strait of Hormuz, employing a "shadow fleet" strategy involving radar shutdown and covert passage, sailing close to the coast of Oman to avoid detection.

Indian officials say a bulk carrier sank off India’s east coast, and the Indian Coast Guard has rescued 14 crew members and is currently searching for four more missing crew members.

U.S. Trade Representative Greer: The United States could have postponed the 50% tariffs imposed on Canadian dairy products and wine.

U.S. Trade Representative Greer: The United States has proposed to eliminate the 10% tariff on softwood lumber.

U.S. Trade Representative Greer: The U.S. had proposed a reduction in tariffs on metals; in U.S.-Canada trade negotiations, automobile tariffs could have been reduced to at least 7%.

Market news: Rosatom, the Russian state-owned nuclear energy company, is gradually arranging for its staff to return to the Bushehr nuclear power plant in Iran.

Since Trump's return to the White House, the United States and Canada have repeatedly teetered on the brink of a full-blown trade war, but Trump has ultimately managed to retract some of his toughest offensives against one of his closest allies. However, this relative calm ended on Saturday. The U.S. imposed a 50% tariff, which officially took effect, and Canada threatened reciprocal countermeasures. Trump's tariffs are essentially taxes on imported goods, meaning that a portion of the cost of the latest tariffs could ultimately be borne by U.S. importers who have been suffering from high prices for years. If Trump retaliates after Canada does so, it could create a series of new shocks to the U.S. economy, which is already facing numerous challenges. "The bigger problem is uncertainty," said Scott Lincicome, vice president of macroeconomics at the Cato Institute, noting that this volatility has permeated Trump's second term. His constantly changing tariffs, sometimes even with a single order, have not only disrupted Wall Street, angered courts, and provoked U.S. allies, but have also fueled rising domestic consumer prices. Lincicome stated that a new round of conflict against Canada could put significant pressure on businesses operating along the U.S.-Canada border. Retaliatory tariffs could push up prices, which in turn would mean "a slight decrease in investment and a slight slowdown in economic activity," and this chaotic trade environment would persist. Joe Brusuelas, chief economist at audit and consulting firm RSM US, said he still believes an agreement is possible, but the risk of escalation is real and could be costly. He expects Canada to target the "worst spots," perhaps including the US auto industry. This could pose a risk to the inflation outlook amid a continued manufacturing slump. A retaliatory trade war could further complicate the US's current struggle with inflation. Despite Trump's opposing view, US inflation remains well above the Federal Reserve's 2% target. In fact, rising prices prompted Trump to ease tariffs on beef imports this week, effectively acknowledging that his trade policies have hurt American wallets. These economic anxieties are also increasingly spreading to financial markets. The ever-increasing US debt burden reached $40 trillion this week, triggering market concerns and pushing US Treasury yields sharply higher. The war with Iran also presents economic challenges, pushing up fuel costs and dragging down global economic growth.

According to Politico, President Trump's promise to make expensive new weight-loss drugs widely available to low-income Americans has not been fulfilled. Last year, Trump promised that states participating in his government's direct-to-consumer pricing program would soon have access to GLP-1 drugs, such as Wegovy and Zepbound, for obese Medicaid patients. However, nine months later, access to these drugs for Medicaid patients has been reduced. Currently, only Indiana has publicly expressed support for the program. Some states have stopped reimbursing Medicaid patients needing to lose weight for these drugs, while others are considering terminating the program. Most states interviewed indicated they would not participate. States that opted out, including Maine, New Mexico, and Oklahoma, cited budgetary pressures and concerns about the long-term financial sustainability of Trump's model. Meanwhile, they have also seen other states spending hundreds of millions of dollars more on these drugs than expected.

A 5.9-magnitude earthquake struck southern Ibaraki Prefecture, Japan, early on the 23rd. No abnormalities have been detected at several nuclear facilities near the epicenter.