Reuters World News - Louvre arrests, Canada tariffs, Trump in Asia and shutdown hot dogs

Starting point is 00:00:00 Hi, I'm Jonah Green in New York. It's Sunday, October 26th. Today. Trump hikes tariffs on Canada after Ontario's controversial ad airs during the World Series. French police arrest two Louvre Heist suspects. Thailand and Cambodia sign a ceasefire deal as Trump hopes for progress on China trade talks. And as the shutdown continues, one lawyer on furlough is living out his dream of running a hot dog cart. This is Reuters World News, bringing you everything you need to know from the front lines

Starting point is 00:00:39 in 10 minutes, seven days a week. French police have arrested two suspects in the Louvre Heist case. That's according to the Parisian newspaper, citing sources close to the investigation. One of the two suspects was about to leave the country and was arrested at Charles de Gaul Airport at about 10 p.m. on Saturday. Another was arrested later in the evening in the San Saint-Den-Nisse suburb north of Paris. For the latest on the story, head to roiders.com or the

Starting point is 00:01:18 Reuters app. U.S. President Donald Trump says he'll increase tariffs on Canada by an additional 10% as he reacted again to an ad by Canada's Ontario province a day after it was aired during the World Series. The ad features a video of former President Ronald Reagan saying that tariffs caused trade wars and economic disaster. Ontario Premier Doug Ford says Ontario will pause the U.S. ad campaign on Monday so that trade talks could resume. President Trump began his trip in Malaysia at the ASEAN summit in Kuala Lampur, where he immediately notched a diplomatic win. Soon after the president's arrival, the leaders of Thailand and Cambodia, signed an enhanced ceasefire deal in his presence.

Starting point is 00:02:12 Well, this is so exciting because we did something that a lot of people said couldn't be done, and we saved maybe millions of lives on this one-piece deal. The agreement builds on a truce reached three months ago, after Trump intervened to bring an end to a deadly border conflict between the two nations. Next on his trip, Japan, to meet new Prime Minister, Sinai Takaiichi. White House correspondent Trevor Honeycutt has been following the president's Asia trip. He's going to be talking with a leader who has kind of inherited the legacy of the former Japanese prime minister Abe, who was a good friend of the presidents, and basically hopes to kind of cement their ties, build on the trade agreement that the two countries made earlier this year,

Starting point is 00:03:00 agree to spend more on defense and preparing for any potential hostilities with China and other countries in the region, that's their goal. Later in the week, Trump will meet with China's president Xi Jinping in South Korea. Their main talking points will include Russia's war in Ukraine and, of course, their ongoing trade war. Now, one major sticking point in that trade war are critical minerals. Automakers are racing to stockpile rare earth, metals ahead of China's new export controls, which take effect next month. Cars need these materials for everything from side mirrors to brakes.

Starting point is 00:03:41 Reuters Auto's correspondent Nick Carey says that with China still controlling 90% of processed rare earths, the industry is exposed. As one trader put it to us, the car industry is virtually defenseless. There's nowhere to turn right now for alternative rare earth. And the West has become aware of this. So you see efforts in Europe and in Australia and in the US to rebuild the mining and refining capacity that the West used to have, which the West just let it go because China was able to do this cheaply.

Starting point is 00:04:18 Rare earth mining is very dirty. In some of the processing, there could be radioactive byproducts. The processing is also very dirty. So when China decided to do it cheaper than everyone, else, no one really resisted. Nick says carmakers like GM have been trying to develop motors that don't need rare earths, but that's going to take time. Those motors are less efficient, they're bigger, they're more expensive, and they're still

Starting point is 00:04:46 somewhere away from reaching scale. So it's just there's not much on the horizon that would stop China being in complete control of the rare earth supply chain and of the future of those jobs and those factories around the world. Israeli forces say they have carried out a targeted strike on an individual in central Gaza, saying the target was a member of the Islamic jihad who was planning an attack on Israeli troops. The Palestinian militant group did not immediately comment. Local medics say, four people have been wounded, but there was no immediate report of deaths. The Federal Reserve is on track for

Starting point is 00:05:30 another interest rate cut when they meet on Tuesday. Fueling that move is cooler inflation data. On Friday, the Bureau of Labor Statistics noted consumer prices were up 3% in September, versus a year ago. But the data that the Fed uses to determine its rate-setting decisions could be getting a bit harder to find. Our economics editor, Dan Burns, is in Washington, D.C. The administration brought back a handful of staff at the Bureau of Labor Statistics, specifically to produce this one report, while all other economic data from the government has ceased publication during the shutdown. And they did that explicitly because the September Consumer Price Index is critical to the calculation of the annual cost of living adjustment that's announced every October for 70 plus million Americans. who rely on Social Security benefits for their income. Offending or angering the legions of elderly who vote in great numbers

Starting point is 00:06:33 is something politicians are loath to do ever. Simply having gotten this report does not mean we're going to get one for the month of October. The White House announced that it had learned that the October CPI will not be produced. When we asked BLS directly, they merely repeated earlier statements that apart from this,

Starting point is 00:06:54 one report, all other data, collection, and publication has ceased during the government shutdown. And we don't know when that's going to be resolved. So there's a very real probability that we will get something of an historic lapse in a data series that dates back more than a century. Now, data is not the only casualty of the shutdown. Furloughed federal workers are having to get creative to make ends meet. For some, like Anthony Spade, that means standing in line. line at a food bank.

Starting point is 00:07:27 So today is my normally, I would get paid today. I don't have no paycheck in my account. I still have bills that are due. I have a family that I have to take care of. But for Isaac Stein, an attorney for the Internal Revenue Service, that means selling hot dogs, moon pies and R.C. Cola from a cart. He is named Scheister's. Stein, who slings his dogs wearing a business suit and tie, says the stand, which he said

Starting point is 00:07:53 required a five-figure investment is part culinary enterprise, part conceptual art. In other words, not a full-time gig. I and every coworker I know, we just want to go back to work. So I'm very much looking forward to when the shutdown is over, just resuming my job and having this be a fun weekend thing like it was intended to be. Right now, tiny particles are passing through your body, trillions of them every second, and you can't feel a thing. They're called neutrinos, and they're among the most mysterious objects in the universe. Scientists have struggled for decades to understand even the basic facts about them, like how much they weigh. But new experiments are finally providing answers. I spoke to our science correspondent Will Dunham about the discovery

Starting point is 00:08:44 and why it matters. Experiments conducted underground in Japan and the United States are now providing some insights into neutrinos. They come in three types, and as they travel, they can change from one type to another, and the new research is starting to differentiate the mass among these neutrino types. So why do we care about neutrinos? Well, they might be the key to unlocking certain mysteries

Starting point is 00:09:07 about the universe. These include the origin of matter and its prevalence in the universe over its counterpart antimatter, the nature of dark matter and dark energy, and the inner workings of supernovas. so a lot of big answers could come from these little particles. And for today's recommended read, a photo essay that tells a story about retirees in Argentina, who are out protesting every week. The government has slashed their pensions and social services,

Starting point is 00:09:44 with many now saying they're struggling to cover basics. And with Argentina voting in midterms today, the country will be giving its verdict on President Javier Malaise policies. We'll put a link to that in the pod description. For more on any of the stories from today, check out reuters.com or the Reuters app. Don't forget to follow us on your favorite podcast player. If you're listening on a smart speaker, just ask for the latest news from Reuters seven days a week.

Starting point is 00:10:13 We'll be back tomorrow with our daily headline show.

Reuters World News - Louvre arrests, Canada tariffs, Trump in Asia and shutdown hot dogs

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