Trump's tariff on Iran's trading partners: What's at stake?

China and Canada strike a trade deal after a high stakes meeting between the Canadian Prime Minister Mark Carney and President Xi.And Europe and South America sign a trade deal after twenty five years. The EU-Mercosur agreement will require the approval of the European parliament within the next few months.

The agreement, between the South American trade bloc Mercosur and the European Union which is set to be signed this weekend, has been 25 years in the making.The deal will eliminate import taxes or tariffs on more than 90 percent of goods traded between Europe and the South American nations. Europe hopes to boost its exports of cars, machinery and medicines, while South American farmers see a huge new market for their crops and produce.Meanwhile, Canada and China have also been making a deal of sorts, what they call a new strategic partnership.And research in Kenya has shown that many young people would choose to be a Tiktoker or a YouTuber over a more conventional job, like a doctor or a lawyer.

Two years on, one of the world’s biggest shipping companies - Maersk - says it’s preparing to return to the Red Sea — and in aviation, Chinese-made passenger jets may be edging closer to European skies.Also today — new data suggests Iran’s internet blackout has cost the economy around 260 million dollars in lost business activity.

Several governments have been piling pressure on Musk’s AI company, xAI, after Grok was used to generate a flood of sexually explicit and non-consensual images, including of women and children.X says it will now geo-block the creation or editing of images showing people in bikinis, underwear or similar clothing in countries where that content is illegal and restrict image generation on Grok to paid subscribers only.Talks between the US, Denmark and Greenland have been called "frank but constructive", resulting in what the Danish foreign minister described still as a "fundamental disagreement" over the future of Greenland.And Wikipedia turns 25, we hear from it's founder.

President Trump wants to cap credit card interest rates at 10% for a year. But the big banks warn that could limit lending and hit the most vulnerable first. Also today - why prices for metals like copper and tin are hitting record highs, we'll investigate what's behind the surge.And despite fresh US tariffs under President Trump — and a volatile global economic backdrop — China posted a record trade surplus of around $1.2 trillion.Picture:Illustration shows Bank of America, Citi bank and Wells Fargo credit card mockups, Reuters

President Donald Trump says NATO would be stronger if Greenland were under US control. Greenlandic and Danish foreign ministers are about to hold talks in Washington with US Vice President JD Vance and Secretary of State Marco Rubio.The meeting could shape investment, mining and military spending across the Arctic.China's announced record export numbers and the biggest ever trade surplus in global history of 1 point 2 trillion dollars. We explain what this meansand Saks Fifth Avenue has applied for Bankruptcy protection

Sam Fenwick takes a look as US President Donald Trump brings back tariffs, this time targeting countries that continue trading with Iran, with China among those in focus. New US inflation figures show price rises are easing, but many American shoppers still say their weekly bills feel high. And pressure on the Federal Reserve has spilled into an open row with its chair, Jay Powell, drawing in central bankers from around the world.(PHOTO: People wave flags during a demonstration in support of the national protests in Iran, in Barcelona, Spain January 13, 2026. Credit: REUTERS/ Albert Gea).

US President Donald Trump has said countries doing business with Iran will face a 25% tariff on trade they do with America. How will it impact Iranian business owners?An Indian tea-grower explains their expectations from India and US trade talks?We look at the latest US consumer prices.And the World Bank says the global economy is doing slightly better than expected.Presenter: Leanna Byrne Producer: Victoriya Holland Editor: Justin Bone

Sam Fenwick examines a growing political storm at the world’s most powerful central bank, as US prosecutors investigate the Federal Reserve and its chair. At Meta, a former adviser to Donald Trump steps into one of Silicon Valley’s biggest jobs, prompting new scrutiny of Big Tech’s relationship with Washington. And in the Caribbean, Cuba faces a potential energy crunch after oil shipments from Venezuela come to a halt.(PHOTO: U.S. President Donald Trump and Federal Reserve Chair Jerome Powell speak during a tour of the Federal Reserve Board building in Washington, D.C., U.S., July 24, 2025. Credit: REUTERS/Kent Nishimura/File Photo).

The Chair of the US Federal Bank Jerome Powell has released a statement in which he says a criminal investigation is about whether the bank can change interest rates based on what will serve the public rather than what the President wants. Donald Trump has denied he knows anything about the investigation which is focused on testimonies given to Congress last year on building work being carried out at the Fed's HQ. Also we hear from a shopkeeper who's been protesting over economic conditions in Iran. The X-owned AI platform Grok has been banned in Malaysia and IndonesiaAnd the boss of beer giant Heineken is stepping down as the Dutch based multi-national faces falling sales.Presenter: Leanna Byrne Editor: Justin Bones