-
Federal Appeals Court Reinstates Trump’s Tariffs After Temporary Block
A U.S. federal appeals court reinstated President Donald Trump’s sweeping tariffs on May 29, 2025, overturning a U.S. Court of International Trade ruling from the previous day that had blocked them, citing Trump’s overreach of authority. The tariffs, part of Trump’s “Liberation Day” trade policy, include a 10% worldwide tariff and higher country-specific duties, paused for 90 days to allow trade talks. This decision has sparked global economic concerns, with critics like the Grosvenor Group’s CEO calling it damaging to all nations. The reinstatement could disrupt trade negotiations, including a UK deal secured on May 8, and affect markets, though Wall Street analysts suggest Trump may soften his stance, dubbing it the “TACO” trade (Trump Always Chickens Out).
Source: Reuters The Guardian The New York Times[](https://www.reuters.com/business/us-ruling-that-trump-tariffs-are-unlawful-stirs-relief-uncertainty-2025-05-29/)[](https://www.theguardian.com/us-news/2025/may/29/why-has-a-us-court-blocked-donald-trumps-tariffs-and-can-he-get-round-it)[](https://www.nytimes.com/live/2025/05/29/us/trump-news) -
Israel Approves 22 New Settlements in West Bank
Israel’s government, led by Finance Minister Bezalel Smotrich, approved 22 new Jewish settlements in the occupied West Bank on May 29, 2025, including legalizing existing outposts and establishing new ones. This move, condemned by Israeli human rights groups, risks straining relations with allies like the U.S., who have threatened sanctions over settlement expansion. The decision follows an attack by Israeli settlers on Palestinians in Al Mughayyir on May 28, highlighting ongoing tensions. The settlements are seen as a provocative step amid heightened regional conflict, potentially complicating peace efforts.
Source: Reuters[](https://www.reuters.com/world/middle-east/israel-announces-new-west-bank-settlements-despite-sanctions-threat-2025-05-29/) -
South Korea Sees Record Early Voting in Presidential Election
South Korea reported record turnout for early voting in its presidential election on May 29, 2025, with leading candidates, including Democratic Party’s Lee Jae-myung, casting ballots. The high participation reflects public demand for change amid economic challenges, as the Bank of Korea cut interest rates and lowered its 2025 growth forecast to 0.8% from 1.5%. The election is critical for Asia’s fourth-largest economy, grappling with global trade uncertainties and domestic pressures.
Source: Reuters[](https://www.reuters.com/world/asia-pacific/south-koreans-turn-out-record-numbers-early-voting-presidential-election-2025-05-29/) -
U.S. Embassy in India Pauses Student Visa Appointments
The U.S. Embassy and consulates in India halted new student visa appointments on May 29, 2025, awaiting further guidance from the U.S. State Department. This follows a directive from Secretary of State Marco Rubio on May 28, ordering enhanced social media screening for visa applicants. The pause is part of the Trump administration’s broader crackdown on foreign students, including revoking visas for Chinese students linked to critical fields or the Chinese Communist Party, raising concerns about academic exchanges.
Source: The Hindu[](https://www.thehindu.com/news/morning-digest-may-29-2025/article69631119.ece) -
Israel Reports Elimination of Hamas Gaza Chief Mohammad Sinwar
Israeli Prime Minister Benjamin Netanyahu announced on May 29, 2025, that Mohammad Sinwar, Hamas’s Gaza chief, was eliminated. This follows intensified Israeli military operations, including strikes in Gaza that killed at least 10 Palestinians on the same day. The U.S. envoy hinted at a possible temporary truce, but ongoing violence, including a recent school airstrike killing 36, complicates ceasefire efforts. Sinwar’s death could escalate tensions further.
Source: TRT World on X DS24IN on X[](https://x.com/DS24IN/status/1928058581586198755) -
Wall Street Closes Lower Amid Inflation Fears
U.S. stock markets closed lower on May 29, 2025, driven by declines in utilities and discretionary stocks. Investor sentiment soured after the Federal Reserve’s May meeting minutes revealed concerns about persistent inflation and potential stagflation risks. This cautious mood reflects broader economic uncertainty, exacerbated by debates over Trump’s tariff policies and their global impact.
Source: Yahoo Finance[](https://finance.yahoo.com/news/stock-market-news-may-29-131900684.html) -
Mortgage Rates Rise for Third Consecutive Week
Mortgage and refinance interest rates in the U.S. increased slightly for the third week in a row on May 29, 2025, according to Zillow data. The fractional rise has not yet established a clear trend, but it signals ongoing economic adjustments amid inflation concerns and Federal Reserve policies. Borrowers are advised to lock in rates to mitigate potential further increases.
Source: Yahoo Finance[](https://finance.yahoo.com/personal-finance/mortgages/article/mortgage-refinance-rates-today-thursday-may-29-2025-100005420.html) -
Oil Prices Decline Amid U.S. Economic Data and Supply Concerns
Oil prices fell on May 29, 2025, due to weak U.S. economic data and fears of rising global supplies, which offset optimism from the initial block of Trump’s tariffs. The decline reflects market sensitivity to economic indicators and trade policy shifts, with analysts monitoring the impact of tariff reinstatements on energy markets.
Source: Bloomberg[](https://www.bloomberg.com/news/articles/2025-05-28/latest-oil-market-news-and-analysis-for-may-29) -
UN Considers 20% Staff Reduction
An internal memo from the United Nations, reported on May 29, 2025, indicates a potential 20% staff cut due to budget constraints. This move, part of broader organizational reforms, could affect the UN’s operations globally, particularly in humanitarian and peacekeeping efforts, amid ongoing global crises like the Ukraine war and Gaza conflict.
Source: Reuters[](https://www.reuters.com/world/asia-pacific/south-koreans-turn-out-record-numbers-early-voting-presidential-election-2025-05-29/) -
Low-Intensity Blast at Tripura-Mizoram Border
A low-intensity explosion occurred in Phuldungsei village at the Tripura-Mizoram border on May 29, 2025, sparking tensions in the region. While details on casualties or causes remain limited, the incident has raised security concerns in India’s northeast, a region with a history of ethnic and insurgent conflicts.
Source: cnss_msruas on X
From AI sources like ChatGPT/Grok/and others. AI can make mistakes and even hallucinate. Check important info.