TikTok negotiations. The U.S. government has identified a group of American companies to buy TikTok from its Chinese owner ByteDance, Trump said yesterday. In an executive order, he also delayed the deadline for TikTok to be shut down if no such sale occurs, extending it from today to December 16. Negotiators did not immediately clarify what kind of influence ByteDance would retain over the app’s recommendation algorithm.
Modi-Trump call. The leaders of India and the United States held a call yesterday for Indian Prime Minister Narendra Modi’s birthday that both described as positive. It was their first since Washington imposed 50 percent tariffs on Indian goods. Senior officials from both countries also met to discuss resuming trade talks, which had frozen after the recent U.S. tariffs.
South America-Europe deal. The Mercosur group of Argentina, Brazil, Uruguay, and Paraguay signed a free trade deal yesterday with the European Free Trade Association group—comprising Iceland, Liechtenstein, Norway and Switzerland. The deal still requires ratification on both sides, but if approved, would create a market of around 300 million people.
Global oil report. Declining output at existing oil and gas fields means maintaining production at current levels will require spending around $540 billion per year, the International Energy Agency (IEA) said yesterday. While the IEA has previously said global oil demand could peak by the end of this decade if countries keep their climate pledges, it is preparing a new report based on current policies that foresees oil and gas use rising through 2050, Bloomberg reported.
USMCA review. The United States and Mexico announced separately yesterday that each is seeking public comments in order to review their U.S.-Mexico-Canada Agreement (USMCA) trade pact. Canada is also due to seek public comment in the coming weeks. The review was scheduled for 2026 when USMCA was originally negotiated during Trump’s first term. The pact has shielded Mexico and Canada from some of Trump’s tariffs.
EU weighs steps against Israel. The European Commission today officially proposed suspending part of the European Union’s trade agreement with Israel and sanctioning two hardline Israeli cabinet members, along with Israeli settlers and Hamas members. EU foreign policy chief Kaja Kallas said the measures sought to “improve the humanitarian situation in Gaza.” It was not immediately clear that the steps had sufficient support to pass.
Chad lengthens presidential term. The lower house of Chad’s legislature advanced a constitutional change that would allow presidents to serve unlimited terms, while also extending term lengths from five to seven years. It is expected to pass in an upper house vote next month. Chadian President Mahamat Idriss Deby has been in office since his father, the previous leader, was killed in 2021.
Protests in Slovakia. Anti-government demonstrations took place in sixteen cities across Slovakia yesterday. Protesters denounced Prime Minister Robert Fico’s pro-Russian policies as well as new government austerity measures. Fico met with Russian President Vladimir Putin on the sidelines of a Beijing military parade earlier this month; he was the only European Union head of state to travel to the event.
