| Trump said he’ll be “very nice” to China in trade talks and tariffs will drop if they can reach a deal, a sign he may be backing down from his tough stance toward Beijing amid persistent market volatility. US Treasury Secretary Scott Bessent told an investor summit yesterday that the standoff with China can’t be sustained by both sides and that the world’s two biggest economies will have to find ways to de-escalate. Separately, Trump said he isn’t planning on firing Federal Reserve Chair Jerome Powell.  WATCH: Trump says he thinks the US will make a deal on trade with China. Minmin Low reports on Bloomberg TV. Gunmen killed as many as 26 people in the Indian state of Jammu and Kashmir, one of the worst attacks in years on civilians in the region that prompted Prime Minister Narendra Modi to cut short a trip to Saudi Arabia and summon an urgent meeting with top ministers. The Himalayan state that’s heavily fortified with hundreds of thousands of troops is claimed in full by India and Pakistan but ruled in part by the two countries, making it a source of constant friction. The US expanded its sanctions campaign to impose “maximum pressure” on Iran’s economy to include the Islamic Republic’s liquefied petroleum gas exports as Washington broadens its focus beyond crude oil. LPG is a major source of revenue for Tehran, which uses the proceeds to fund its nuclear ambitions and support regional groups including Hezbollah, the Houthis and Hamas, according to the Treasury Department. Charities and developing nations are grappling with funding shortfalls in public-health programs after Trump slashed US foreign-aid commitments. But those hoping that China might step in to fill the gap are likely to be disappointed, as exclusive data analyzing its assistance over the past two decades show.  A USAID operation in Mekele, Ethiopia, in 2021. Photographer: Jemal Countess/Getty Images Tidjane Thiam has effectively been disqualified from running for president of Ivory Coast following a ruling yesterday that found him ineligible. An Abidjan court removed the former Credit Suisse CEO from the voters’ list six months ahead of elections despite him having dropped his French citizenship earlier this year. Thiam was voted as the main opposition candidate last week. The Trump administration would be willing to offer Argentina’s government a specific credit line if a global shock jeopardized President Javier Milei’s economic turnaround, sources say. Elon Musk vowed to pull back “significantly” from his work with the US government and pay more attention to Tesla, in an effort to assuage investors concerned about the carmaker’s worst quarter in years. Taiwan’s president, Lai Ching-te, will not attend the funeral of Pope Francis despite making requests to the Vatican, a move that breaks with precedent and removes a rare opportunity to mix with other world leaders. Poland’s defense industry has struggled to boost production capacity despite increased spending, leading to reliance on foreign contractors. Following Trump’s warnings of harsh retaliation, Apple and Meta were hit by relatively modest European Union fines totaling $798 million for violating tough new antitrust rules. | 
