Japan’s PM resigns. Prime Minister Ishiba Shigeru said yesterday that he will step down after less than a year in office. He presided over elections that saw the ruling Liberal Democratic Party (LDP) lose its majorities in both legislative chambers. A date for a new LDP leadership vote was not immediately announced.
Framework for tariff cuts. Trump signed an executive order last Friday that permits the removal of his previous tariffs on certain goods from countries that strike trade deals with the United States. Items eligible for tariff exemptions include nickel, gold, and other metals. Tariffs on applicable items could fall to zero beginning today.
Immigration raid on Hyundai plant. Seoul will repatriate more than three hundred South Korean workers detained during an immigration raid at a U.S. Hyundai factory, the office of South Korean President Lee Jae-myung said yesterday. Last Thursday’s raid was the largest workplace immigration enforcement action of Trump’s second presidency. Afterward, Lee pledged “all-out efforts” to support the country’s nationals in the United States.
Oil production hike. Eight countries that are part of the OPEC+ group decided yesterday to increase their joint output beginning in October by 137,000 barrels per day. The move is part of efforts to gain a larger share of the total global oil market rather than prop up prices. So far in 2025, actual output from OPEC+ countries has risen more slowly than their announced targets.
Nepal’s social media restrictions. The country’s ban of twenty-six social media platforms such as WhatsApp, Instagram, and WeChat has triggered confusion and street protests since it took effect last Thursday. The government says those companies failed to meet new registration requirements. Nepal enacted a TikTok ban in 2023 that ended after nine months when the platform registered with the government.
Houthi attack in Israel. A Houthi drone evaded Israeli air defenses and hit a terminal at Ramon Airport in southern Israel. A man was injured by shrapnel from the explosion. The military said the drone was not classified as a threat due to human error. The strike follows an Israeli attack in Yemen late last month that killed several senior Houthi officials.
French confidence vote. A group of far-right, left, and far-left parties pledged to oppose French Prime Minister François Bayrou in a vote today that appears poised to reject him from office. He is the country’s fourth prime minister in just twenty months. The vote focuses on his unpopular proposal to sharply cut government spending; his ouster could prompt the naming of a new prime minister or snap legislative elections.
Indonesian cabinet shake-up. President Prabowo Subianto dismissed the finance and security ministers after thousands of people protested for weeks against economic inequality in the country. At least eight people have been killed in those demonstrations and the outgoing finance minister’s home was looted. She had been in the post for almost fourteen of the last twenty years.
