Good morning.

🇺🇸 Trump Won't Delay Tariff Deadline

President Trump ruled out extending his July 9 deadline for higher tariffs to resume, threatening to impose duties on several nations despite ongoing negotiations. So far, only the UK and China have put trade frameworks in place and no deals have been formalized, despite the 90-day delay. Trump criticized Japan, particularly for not accepting US rice exports, and said he would impose 30-35% tariffs due to trade imbalances, calling the country "very spoiled" and doubting a deal will be reached. Markets reacted with the S&P 500 dropping 14 points on the news, while Trump sounded more optimistic about finalizing a trade agreement with India within days. More - Bloomberg

🇹🇭 Thai PM Suspended Over Call with Cambodia

Thailand's Constitutional Court suspended Prime Minister Paetongtarn Shinawatra while considering her dismissal over a leaked phone call with former Cambodian leader Hun Sen, where she called him "uncle" and criticized a Thai military commander. The 38-year-old leader, whose approval rating plummeted from 30.9% to 9.2%, has 15 days to defend herself as deputy PM serves as acting leader. If dismissed, she would be the second Pheu Thai prime minister removed since August and the third Shinawatra family member to lose power before completing their term. More - BBC

🇵🇸 Israel Kills 109 in Gaza While Trump Promises to be ‘Firm’ with Netanyahu

Israeli forces killed at least 109 Palestinians across Gaza, including 16 aid seekers shot at distribution hubs, as Trump vowed to be "very firm" with Netanyahu during next week's White House visit. The attacks destroyed homes in northern and southern Gaza amid fears of another ground invasion, with 82% of the territory now under Israeli military control or forced displacement threats. Nearly 600 Palestinians have been killed at controversial US-Israeli backed aid sites since late May, prompting 170 international charities to demand the program's immediate end. More - Al Jazeera

Europe Stability Ratings and News Summary

More Unstable

🇦🇱 Albania, 🇦🇹 Austria, 🇧🇾 Belarus, 🇧🇪 Belgium, 🇧🇦 Bosnia And Herzegovina, 🇧🇬 Bulgaria, 🇨🇾 Cyprus, 🇩🇰 Denmark, 🇫🇷 France, 🇩🇪 Germany, 🇬🇷 Greece, 🇭🇺 Hungary, 🇮🇪 Ireland, 🇮🇹 Italy, 🇱🇻 Latvia, 🇲🇰 Macedonia, 🇲🇩 Moldova, 🇲🇪 Montenegro, 🇳🇱 Netherlands, 🇷🇴 Romania, 🇷🇺 Russia, 🇷🇸 Serbia, 🇪🇸 Spain, 🇨🇭 Switzerland, 🇹🇷 Turkey, 🇺🇦 Ukraine

More Stable

No countries were more stable over this period

Unchanged

🇦🇩 Andorra, 🇭🇷 Croatia, 🇨🇿 Czech Republic, 🇪🇪 Estonia, 🇫🇮 Finland, 🇮🇸 Iceland, 🇱🇮 Liechtenstein, 🇱🇹 Lithuania, 🇱🇺 Luxembourg, 🇲🇹 Malta, 🇲🇨 Monaco, 🇳🇴 Norway, 🇵🇱 Poland, 🇵🇹 Portugal, 🇸🇲 San Marino, 🇸🇰 Slovakia, 🇸🇮 Slovenia, 🇸🇪 Sweden, 🇬🇧 United Kingdom

Regional News Summary

The Swiss government has proposed new restrictions on Ukrainian refugees, citing concerns about integration and the capacity to absorb a large influx of asylum seekers. This decision reflects a broader trend in Europe as countries grapple with the challenges posed by increasing numbers of refugees amid ongoing conflicts. Swiss Foreign Minister Ignazio Cassis has also emphasized the need to maintain national sovereignty in negotiations with the EU, indicating a reluctance to compromise on key issues of governance and autonomy [SOURCE - Swissinfo].

In the realm of defense, Switzerland is currently in negotiations with the United States regarding the purchase of F-35 fighter jets, with disagreements over pricing causing delays in the deal. This situation underscores the complexities of military procurement and international defense partnerships [SOURCE - Space Daily].

Meanwhile, NATO has reaffirmed its commitment to Ukraine by pledging $40 billion in aid, as the country prepares to establish a war tribunal aimed at prosecuting Russian leaders for their actions during the ongoing conflict. Ukrainian President Volodymyr Zelenskyy has expressed strong support for this initiative, emphasizing the need for accountability [SOURCE - Reuters].

The Czech Republic has also indicated its readiness to take on new defense commitments, aligning with the broader European effort to bolster military capabilities in response to Russian aggression. This comes as Ukraine continues to receive substantial international support, with the European Council and Commission pledging their backing [SOURCE - Radio.cz].

In economic news, Germany is facing a wave of corporate insolvencies, with 12,000 companies going bankrupt in just six months. This alarming trend raises concerns about the stability of key industries and the broader economic landscape [SOURCE - TRT]. Additionally, the German government has moved to restrict family reunification for refugees, a policy change that has sparked debate among citizens and experts alike [SOURCE - The Local].

Poland has made strides towards energy independence by reducing reliance on Russian energy sources. The Polish parliament has approved a bill to ease the construction of wind turbines and extend an electricity price freeze, ensuring consumers benefit from lower costs [SOURCE - Notes from Poland].

In social issues, a recent study revealed that the gender wage gap persists in Switzerland, with women earning on average 18.6% less than men. This highlights the ongoing need for action to address inequality in the workplace [SOURCE - Swissinfo].

Lastly, the ongoing conflict in Ukraine continues to have global repercussions, with North Korea announcing plans to send troops to support Russia's efforts. Diplomatic efforts to resolve the conflict remain ongoing, with Turkish President Recep Tayyip Erdogan expressing optimism about a potential peaceful settlement [SOURCE - The Jerusalem Post].

MENA Stability Ratings and News Summary

More Unstable

🇧🇭 Bahrain, 🇪🇬 Egypt, 🇮🇷 Iran, 🇮🇶 Iraq, 🇮🇱 Israel, 🇯🇴 Jordan, 🇱🇧 Lebanon, 🇱🇾 Libya, 🇸🇦 Saudi Arabia, 🇸🇾 Syria, 🇹🇳 Tunisia, 🇦🇪 United Arab Emirates, 🇾🇪 Yemen

More Stable

No countries were more stable over this period

Unchanged

🇰🇼 Kuwait, 🇴🇲 Oman, 🇶🇦 Qatar

Regional News Summary

Syria is grappling with its worst drought in 60 years, threatening the food security of 16 million people. The Food and Agriculture Organization has raised alarms about the devastating impact on agriculture, prompting the Syrian government to enhance educational initiatives and innovation to mitigate the crisis. A recent exhibition showcased efforts to promote job creation and innovation in the country [SOURCE - Malay Mail].

In a bid to bolster its energy sector, Syria has agreed to enhance cooperation with Turkey, aiming to improve energy infrastructure and stimulate economic growth [SOURCE - Syrian Arab News Agency]. Additionally, the World Bank has approved over $1 billion in funding for projects in Lebanon, Syria, and Iraq, aimed at supporting economic development and improving living standards in the region [SOURCE - Daily Excelsior].

On the international relations front, the United States has expressed hope that Syria will soon join the Abraham Accords, which could lead to normalized relations with Arab states and potentially enhance regional stability [SOURCE - The Jerusalem Post]. Meanwhile, US Special Envoy for Syria, Tom Barrack, is working to strengthen ties between the US and Syria during his visit to Saudi Arabia [SOURCE - The Jerusalem Post].

However, security concerns persist, highlighted by a recent church bombing attributed to an IS splinter group, underscoring the ongoing challenges facing the country [SOURCE - The Times of India]. The Syrian government is actively combating smuggling and trafficking gangs, with the Anti-Narcotics Department leading these efforts [SOURCE - Syrian Arab News Agency].

In Egypt, diplomatic efforts are underway to renew talks between Israel and Hamas, following a ceasefire with Iran, as the country seeks to broker lasting peace in the region [SOURCE - Israel National News]. Meanwhile, tensions in the region have led to airspace closures in Iran, affecting Indian carriers after a US base strike [SOURCE - Rediff].

In a significant development, Italy has spent $130,000 on its first migrant deportation flight to Egypt, reflecting a new approach to handling migration in the region [SOURCE - Forbes]. Additionally, Russia has ratified a protocol to provide a state export loan to Egypt, signaling stronger economic ties between the two nations [SOURCE - Kremlin].

Tensions have escalated in the Middle East as Yemen fired missiles at Israel, prompting a swift response from the Israeli military, which intercepted the missiles [SOURCE - Times of India]. Massive rallies in Yemen, Mauritania, and Morocco in support of Gaza further fueled the tensions [SOURCE - ABNA24].

In the UAE, a report indicates that the country is set to attract a record 9,800 millionaires in 2025, surpassing the US and China in millionaire migration, which is expected to significantly boost the economy [SOURCE - Daily Times]. However, the UAE's oil partners are facing trading losses following a surprise supply cut, coinciding with a global decline in oil prices [SOURCE - NDTV Profit].

As tensions between the UAE and Iran remain high, Bahrain has enacted emergency measures in response to escalating tensions, including online classes and remote work [SOURCE - Times of India]. The situation continues to evolve, with the international community closely monitoring developments and calling for restraint and diplomatic efforts to de-escalate tensions in the region.

Carpe tomorrow!