The U.S. economy expanded at a surprising 3% annual pace from April through June, bouncing back at least temporarily from a first-quarter drop that reflected disruptions arising from President Donald Trump’s trade wars. The Commerce Department reported Wednesday that America gross domestic product — the nation’s output of goods and services — rebounded after falling at a 0.5% clip from January through March. The first-quarter drop was mainly caused by a surge in imports — which are subtracted from GDP — as businesses scrambled to bring in foreign goods ahead of Trump’s tariffs. Economists had expected 2% second-quarter growth.
A tsunami hit coastal areas of Russia’s Kuril Islands, Japan and Hawaii and Alaska after a powerful, 8.8-magnitude earthquake struck off the coast of Russia early Wednesday. Warnings are also in place for Alaska and other coasts south toward New Zealand. The Japan Meteorological Agency said a tsunami as high as 60 centimeters (2 feet) had been detected as the waves moved south along the Pacific coast from Hokkaido to Tokyo Bay. Officials urged caution, saying that bigger waves could come later. Damage and evacuations were reported in the Russian regions nearest the quake’s epicenter on the Kamchatka Peninsula and officials declared a state of emergency in several areas.
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The Kremlin said on Tuesday that it had “taken note” of a statement by U.S. President Donald Trump that he was shortening his deadline for Moscow to sign up to a ceasefire in Ukraine or face sanctions.
Trump set a new deadline on Monday of 10 or 12 days for Russia to make progress toward ending the war in Ukraine or face consequences, underscoring frustration with President Vladimir Putin over the 3-1/2-year-old conflict.
Asked about Trump’s statement on Tuesday during a conference call with reporters, the Kremlin kept its remarks short.
“We have taken note of President Trump’s statement yesterday. The special military operation continues,” said Kremlin spokesman Dmitry Peskov, employing the term that Moscow uses for its war effort in Ukraine.
“We remain committed to a peace process to resolve the conflict around Ukraine and to ensure our interests in the course of this settlement.”
Trump threatened on July 14 to impose new sanctions on Russia and buyers of its exports within 50 days, a deadline which would have expired in early September.
But on Monday, during a visit to Britain, he shortened that deadline and said:
“There’s no reason in waiting… We just don’t see any progress being made.”
Trump, who has held half a dozen calls with the Kremlin leader since returning to the White House in January, also said he was “not so interested in talking any more”.
Peskov declined to comment on that remark.
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