The head of the World Trade Organization said on Thursday (October 16) she is urging the U.S. and China to de-escalate trade tensions, warning that a decoupling between the world's two largest economies could reduce global economic output by 7% over the longer-term.

Washington

The World Trade Organization (WTO) has raised concerns about the ongoing trade dispute between the United States and China, emphasizing the potential negative impact on global economic growth. WTO Director-General Ngozi Okonjo-Iweala stated that any decoupling of the world's two largest economies could lead to global GDP losses of up to 7 percent and even greater welfare losses for developing countries.

Okonjo-Iweala noted that the WTO is encouraging dialogue between the two nations and sees the current situation as an opportunity to reform the organization to better address modern trade challenges. She also welcomed the U.S. decision to remove the WTO from its list of planned spending cuts and reported ongoing efforts to resolve overdue payments from the U.S. to the trade body.

WTO urges U.S., China to ease trade war or risk global growth

Well, we're obviously worried at any escalation of U.S.-China tensions. The head of the World Trade Organization says she is very concerned about the dispute between the world's two largest economies over trade. Ngozi Okonjo-Iweala told Reuters in an exclusive interview that the trade tensions could have a significant impact on global growth. Our modeling shows that any kind of decoupling that divides the world into two trading blocs is going to result in significant global GDP losses in the longer term, up to 7 percent global GDP losses and double-digit welfare losses for developing countries. So it's not only the big powers or the rich countries that will lose. The poorer countries will lose even more. She said the WTO had spoken with officials from both countries to encourage more dialogue. U.S. President Donald Trump told Fox Business in an interview that was broadcast on Friday that his proposed 100 percent tariff on goods from China would not be sustainable, but blamed Beijing for the latest impasse in trade talks that began with Chinese authorities tightening control over rare earth exports. Though he added, quote, I think we're going to be fine with China, but we have to have a fair deal. It's got to be fair. Okonjo-Iweala said organizations like the WTO should use the current trade disputes as an opportunity to reform the organization and make it more flexible and efficient and able to take advantage of new trade opportunities. There's absolutely no doubt that there are global problems that cannot be solved by any one country alone. And you will need global cooperation to do it. And that's where multilateralism will still be very, very relevant. But to make sure that the organizations are really appreciated, we have to reform. And at the WTO, we are ready to work on this. She said she was very appreciative that the U.S. had removed the WTO from its list of planned spending cuts to international organizations. And efforts were underway to settle overdue payments from the U.S. to the trade body.

Mr. Trump seemed open to trading U.S.-made Tomahawk's for Ukrainian-made drones, but then he argued Ukraine might not even need new weapons if he can broker a swift end to the invasion.

Ukraine Invasion

Trump says he'd rather broker peace than send Tomahawks to Ukraine

President Trump announced that he has commuted former New York Rep. George Santos' sentence on Friday in a post on his social media platform Truth Social.

President Trump commutes George Santos' sentence

John Bolton pleaded not guilty at a Maryland federal court on Friday (October 17). This comes after the former Trump administration national security adviser was indicted on 18 counts for his alleged mishandling of classified information.

Greenbelt

John Bolton pleads not guilty to criminal charges

Buckingham Palace announced Friday that Prince Andrew is giving up his royal titles. This comes after a posthumous memoir by Jeffrey Epstein accuser Virginia Roberts Giuffre emerged.

London

Prince Andrew giving up his royal titles, Buckingham Palace says

U.S. President Donald Trump is meeting at the White House with Ukrainian President Volodymyr Zelenskyy Friday as the war between Russia and Ukraine continues. On Thursday, Trump spent more than two hours on the phone with Russian President Vladimir Putin.

Trump set to meet with Zelenskyy

Ahead of a meeting with Ukrainian President Zelensky, Trump cast doubt on supplying Tomahawk missiles to Kyiv, citing U.S. stock concerns. He also discussed the issue with Russian President Putin, who opposed the idea, raising questions about future Ukraine aid.

Trump questions sending Tomahawks to Ukraine after Putin call

At least one person was killed and dozens of police officers injured in widespread protests overnight in Peru against President Jose Jeri, who assumed power just days ago. The government will declare a state of emergency in Lima within hours and is preparing a package of measures to tackle rising insecurity.

Lima

Peru to impose state of emergency after violent clashes

The espionage case against Christopher Berry and Christopher Cash collapsed after government officials refused to testify under oath that China posed a threat to national security.

MI5 chief warns China a ‘daily threat’ after spy case collapse

NATO is increasing its capabilities on its eastern flank after recent Russian drone incursions. At the same time the EU has announced a major defence policy roadmap aimed at deterring threats from Russia.

Šiauliai

NATO, EU step up defences to deter Russia

The U.S. military flew three B-52 bombers on missions near the coast of Venezuela, according to a Global Strike Command spokesperson and a U.S. official, as the Trump administration continues to exert pressure on Venezuelan President Nicolás Maduro's government.

Caracas

U.S. flies B-52 bombers off the coast of Venezuela

A federal judge overturned a Homeland Security decision to cut anti-terrorism funding for New York City. The ruling comes as the Trump administration faces lawsuits from Democratic governors over similar cuts.

New York

Judge blocks Trump cuts to New York City's anti-terrorism funds

China has accused the U.S. of stoking panic over its rare earth controls and said Treasury Secretary Scott Bessent had made "grossly distorted" remarks about a top Chinese trade negotiator, rejecting a White House call to roll back the curbs.

Beijing

Global Tariffs

China blames U.S. for global panic over rare earths controls

U.S. President Donald Trump on Thursday said he had a "productive" phone call with Russian President Vladimir Putin and announced plans for a meeting with Putin in Hungary.

Trump says he plans to meet with Putin in Hungary

Israel said it was preparing for the reopening of Gaza's Rafah crossing with Egypt but set no date as it traded blame with Hamas over violations of the ceasefire. A row over the return of bodies of hostages from Gaza retains the potential to upend the truce.

Jerusalem

Middle East Conflict

Netanyahu says fight with Hamas 'not over yet'

Tumultuous scenes unfolded during the public viewing of late Kenyan Prime Minister Ralia Odinga's body. The 80-year-old's coffin was on its way to a Nairobi stadium when security forces fired tear gas and gunshots into the crowds. At least two people have reportedly been killed.

Nairobi

Kenyan police open fire at mourners at Odinga public viewing

Pakistan and Afghanistan agreed to a temporary ceasefire on Wednesday after airstrikes and ground fighting ramped up tensions between the South Asian neighbors, leaving more than a dozen civilians dead and 100 wounded.

Balochistan

Pakistan, Afghanistan agree temporary truce after fresh fighting

U.S. President Trump confirmed CIA covert operations in Venezuela during a press conference in the Oval Office on Wednesday. CBS News' Ed O'Keefe asked Trump about what that means for Nicolás Maduro.

Trump authorizes CIA covert operations in Venezuela

Israel is still limiting the number of aid trucks allowed to enter Gaza nearly a week after a ceasefire deal was agreed. It’s told the United Nations will only allow 300 per day - that's half the minimum number agreed under the truce.
The UN says even 600 trucks entering daily would not be enough to meet the needs of the population.

Tel Aviv-Yafo

Gaza ceasefire fears as Israel limits aid trucks to less than agreed

President Trump confirmed that he has authorised the CIA to go into Venezuela and conduct covert operations.

Trump says he authorised covert CIA operations in Venezuela

Hamas is back on the streets of Gaza in an attempt, it says, to restore law and order -- and to send a message.

Hamas executes Palestinians accused of collaborating with Israel

A federal judge in Oregon has extended temporary restraining orders that block the Trump administration from deploying National Guard troops to Portland. Meanwhile, federal agents in Chicago used tear gas to disperse a crowd after a car chase ended in a crash.

Chicago

Federal agents deploy tear gas in Chicago despite court order

A federal judge on Wednesday temporarily ordered the Trump administration to halt the firing of workers during the government shutdown.

Judge temporarily blocks Trump from firing workers during shutdown

Ukrainian President Volodymyr Zelenskyy is traveling to the U.S. to meet with President Trump. The two leaders are expected to discuss the possibility of the U.S. supplying Ukraine with long-range missiles.

Trump to meet with Zelenskyy about long-range missiles

The U.S. military struck a fifth apparent Venezuelan boat allegedly carrying drugs, U.S. President Donald Trump announced on social media Tuesday. CBS News' Natalie Brand has more details.

Trump says U.S. struck another alleged Venezuelan boat

News organizations including The New York Times, The Associated Press and Newsmax as well as ABC, CBS, NBC, CNN and Fox News say they will not sign new press rules as laid out in a Defense Department document. This could mean the Trump administration will evict reporters from the Pentagon.

Major U.S. news media outlets refusing to sign new Pentagon rules

Madagascar’s president ousted in a military takeover — Youth-led protests and parliament’s impeachment vote spark political turmoil.

Antananarivo

Madagascar's military seizes power, president ousted

Thousands of messages shared in a group chat of Young Republicans are revealing some racist thoughts that even they worried about being leaked. The exchanges obtained by Politico are part of a Telegram chat among Young Republican leaders in New York, Kansas, Arizona and Vermont. Jason Beeferman, New York state politics reporter for Politico, joins with more.

Breakdown