International
Trump hints at softening China tariffs and says no plan to sack Fed boss
US President Donald Trump has appeared to soften his recent comments on China and the head of the US Federal Reserve after recent clashes as he pursues his economic agenda.
He said he has “no intention of firing” Jerome Powell after repeatedly criticising the head of the central bank, but he added that he would like Powell to be “a little more active” on cutting interest rates.
Speaking in the Oval Office on Tuesday, Trump also said he was optimistic about improving trade relations with China.
He said the level of tariffs – or import taxes – that he had imposed on Chinese imports would “come down substantially, but it won’t be zero”.
The president’s tariffs are an effort to encourage factories and jobs to return to the US. This is a pillar of his economic agenda – as is a cut in interest rates, aimed at reducing the cost of borrowing for Americans.
Trump has ratcheted the rate on Chinese goods up to 145% – sparking reciprocal measures from Beijing and warnings from economists about the global impact of a trade war.
In his comments to reporters on Tuesday, Trump said he would be “very nice” in negotiations with Beijing – in the hope of securing a trade deal.
Earlier, US Treasury Secretary Scott Bessent reportedly said he expected a de-escalation of the trade war, which he said was unsustainable. Responding to comments from China, he said the current situation was “not a joke”.
The trade war has led to turbulence in financial markets around the world – to which Trump’s comments on Powell have also contributed.
The Fed has not cut rates so far this year, after lowering them by a percentage point late last year, a stance Trump has heavily criticised.
Last week, the president intensified his attacks on the Fed chief, calling him “a major loser”.
The comments sparked a selloff of stocks, bonds and the US dollar – though markets have since been recovering from those losses.
National Economic Council Director Kevin Hassett said on Friday that Trump was looking into whether it would be possible to sack Powell – who he first nominated to lead the central bank in 2017.
Powell was then renewed in 2021 by Joe Biden.It is unclear whether Trump has the authority to fire the Fed chair. No other US president has tried to do so.
Most major Asian stock markets were higher on Wednesday as investors appeared to welcome the latest remarks.
Japan’s Nikkei 225 index rose about 1.9%, the Hang Seng in Hong Kong climbed by around 2.2%, while mainland China’s Shanghai Composite was down less than 0.1%.
That came after US shares made gains on Tuesday, with the S&P 500 ending Tuesday’s session up 2.5% and the Nasdaq rose 2.7%.
US futures were also trading higher overnight. Futures markets give an indication of how financial markets will perform when they open for trading.
Investors feared that pressure on Powell to lower interest rates could cause prices to rise at a time when trade tariffs are already seen boosting inflation.
Trade tensions between the world’s biggest economies, as well as US tariffs on other countries around the world, have triggered uncertainty about the global economy. Those concerns triggered turmoil in financial markets in recent weeks.
On Tuesday, the forecast for US economic growth for this year was given the biggest downgrade among advanced economies by the International Monetary Fund (IMF) due to uncertainty caused by tariffs.
The sharp increase in tariffs and uncertainty will lead to a “significant slowdown” in global growth, the Fund predicted.
Trump has imposed taxes of up to 145% on imports from China. Other countries are now facing a blanket US tariff of 10% until July.
His administration said last week that when the new tariffs are added on to existing ones, the levies on some Chinese goods could reach 245%.
China has hit back with a 125% tax on products from the US and vowed to “fight to the end”.
The Chinese government has not yet officially responded to the latest statements from the Trump administration.
However, an article in the state-controlled Global Times on Wednesday quoted commentators who said the remarks showed that the US is beginning to realise the tariffs do more harm than good to America’s economy.
BBC
Crime
Invictus Obi Released from U.S. Prison After Serving Time in $11 Million Fraud Case
Obinwanne Okeke, the Nigerian businessman popularly known as Invictus Obi, has been released from United States federal prison after serving approximately six years for his involvement in an $11 million internet fraud scheme, multiple reports confirmed on Thursday.
Records from the U.S. Federal Bureau of Prisons (BOP) inmate locator indicate that Okeke is listed as “Not in BOP Custody as of: 12/23/2025,” signaling his exit from federal incarceration ahead of his original projected release date of September 3, 2028.
Okeke, 38, was sentenced to 10 years in prison in February 2021 after pleading guilty to conspiracy to commit wire fraud. The charges stemmed from a sophisticated business email compromise (BEC) scheme between 2015 and 2019, where he and associates used phishing tactics to divert funds, including a major interception targeting Unatrac Holding Limited, a UK-based exporter linked to Caterpillar Inc.
Prosecutors described the operation as causing “staggering losses of about $11 million” to victims through impersonation and computer hacking.
His early release is widely attributed to good conduct credits and provisions under the First Step Act, a U.S. criminal justice reform law that allows sentence reductions for certain non-violent offenders.
Reports from outlets including Linda Ikeji’s Blog, Peoples Gazette, and BusinessDay indicate that deportation proceedings to Nigeria are underway, consistent with his non-U.S. citizen status and the terms of his plea agreement. As his crimes were federal, a transfer to state custody is considered unlikely.
Once hailed as a rising star in African entrepreneurship, Okeke founded the Invictus Group, claiming investments in construction, agriculture, oil and gas, telecommunications, and real estate across Nigeria, South Africa, and Zambia.
In 2016, he was featured on Forbes Africa’s 30 Under 30 list, celebrated for his purported success story from humble beginnings.
His 2019 arrest by the FBI at Dulles International Airport as he attempted to leave the U.S. marked a dramatic fall, sparking widespread discussions on cybercrime, the allure of quick wealth, and scrutiny of young Nigerian entrepreneurs.
With his release, questions now focus on Okeke’s future: potential supervised release conditions in the U.S., his return to Nigeria, and any ongoing restrictions.
No official statement has been issued by U.S. authorities or Okeke’s representatives regarding the exact terms of his release.
The case continues to highlight global efforts to combat BEC scams, which remain a significant threat to businesses worldwide.
International
JUST IN: Trump Sacks US Ambassador To Nigeria, Others
The Trump administration has recalled the United States Ambassador to Nigeria, Richard M. Mills Jr., as part of a broader shake-up involving nearly 30 career diplomats serving in ambassadorial and senior embassy posts around the world.
Mills, who assumed his post in Nigeria in July 2024 during the Biden administration, is among the affected envoys who received notices last week that their tenures will end in January 2026. The move aligns with efforts to ensure U.S. diplomatic representatives fully support President Donald Trump’s “America First” foreign policy priorities.
Africa has been the most impacted region, with ambassadors recalled from 13 countries: Burundi, Cameroon, Cape Verde, Gabon, Côte d’Ivoire, Madagascar, Mauritius, Niger, Nigeria, Rwanda, Senegal, Somalia, and Uganda. Other affected regions include Asia (six countries, including the Philippines and Vietnam), Europe (four countries), the Middle East (two countries), and additional posts in South Asia and the Western Hemisphere.
Many of these diplomats were appointed under the previous Biden administration and had initially survived an earlier wave of changes that primarily targeted political appointees. Ambassadors serve at the pleasure of the president and typically hold posts for three to four years, though the administration described the recalls as a “standard process” for any new presidency.
A State Department spokesperson defended the decision, stating: “An ambassador is a personal representative of the president, and it is the president’s right to ensure that he has individuals in these countries who advance the America First agenda.”
The recalls, first reported by Politico, have raised concerns among some lawmakers and the American Foreign Service Association, the union representing U.S. diplomats. The affected career diplomats will return to Washington for potential reassignment but will no longer serve as chiefs of mission in their current postings.
International
UPDATE: Burkina Faso Releases 11 Detained Nigerian Air Force Personnel and Aircraft Following High-Level Talks
Burkina Faso has released 11 Nigerian Air Force personnel and their C-130 aircraft, ending a nearly two-week diplomatic standoff triggered by the plane’s emergency landing in the country.
The release was confirmed shortly after Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, concluded a meeting with Burkina Faso’s President, Captain Ibrahim Traoré, on Wednesday in Ouagadougou.
Tuggar, acting as President Bola Ahmed Tinubu’s special envoy, delivered a message of solidarity and fraternity while addressing the incident involving the aircraft, which made a precautionary landing in Bobo-Dioulasso on December 8 due to technical issues en route to Portugal.
A statement from Alkasim Abdulkadir, spokesperson for Tuggar, described the resolution as amicable, noting that both nations resolved concerns over the Nigerian Air Force pilots and crew through constructive dialogue.
The Ministry of Foreign Affairs later confirmed the release of both the personnel and the aircraft, emphasizing sustained diplomatic engagement at the highest levels.
The incident had initially raised tensions, with Burkina Faso citing procedural irregularities in airspace authorization. Nigeria expressed regret over the matter while reaffirming respect for Burkina Faso’s sovereignty.
Officials on both sides highlighted the spirit of fraternity, with Tuggar praising the treatment accorded to the crew during their stay. Discussions also touched on broader cooperation in security and counter-terrorism.
The swift resolution underscores ongoing efforts to maintain neighborly relations amid regional challenges, with the personnel expected to return home imminently.
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