Morning Briefing: July 17, 2025

ISTANBUL

Here’s a rundown of all the news you need to start your Thursday, including the Syrian army withdrawing from the southern city of Suwayda under a ceasefire agreement with Druze leaders, Canada’s pivot from US trade reliance amid new steel tariffs, and Iran’s seizure of a foreign oil tanker over alleged fuel smuggling.

TOP STORIES

• Syrian army withdraws from Suwayda under ceasefire agreement with Druze leaders

Syrian government forces began withdrawing from the southern city of Suwayda, implementing a ceasefire agreement reached earlier in the day with the city's Druze religious leaders, the state news agency SANA reported.

The withdrawal comes “after the end of the army’s mission to pursue outlaw groups” and follows a deal between the Syrian government and local Druze clerics.

The Interior Ministry confirmed a new ceasefire agreement in Suwayda on Wednesday, which includes the full reintegration of the province under central government authority, according to the news agency.

• Canada shifting from reliance to resilience, says premier amid new steel tariffs

Canada will change its trade rules and invest in domestic production to protect its steel industry, Prime Minister Mark Carney announced, calling it a major shift away from relying on the US.

"Let’s be clear, Canada will be one of the countries most impacted by these developments," Carney said at a press conference, referring to US trade actions that are affecting global steel markets.

"Over time, we became too dependent on the US as our biggest customer, with more than 90% of our steel exports going south of the border," he added.

• Iran seizes foreign tanker over alleged fuel smuggling in Sea of Oman

Iranian authorities have seized a foreign oil tanker carrying more than 2 million liters (528,344 gallons) of fuel, accusing it of smuggling, the state-run IRNA news agency reported.

Mojtaba Ghahremani, judiciary chief for Iran’s southern Hormozgan province, said the vessel was intercepted in the Sea of Oman “due to deficiencies in the legal documents concerning the vessel’s cargo” and was charged with transporting smuggled fuel.

The nationality and intended destination of the ship were not immediately disclosed.

NEWS IN BRIEF

• A 7.2 magnitude earthquake struck off the southern coast of Alaska, according to the US Geological Survey (USGS).
• US Secretary of State Marco Rubio said all parties agreed on "specific steps" that would end the clashes in Syria.
• The Sudanese army announced that it repelled an attack by the Rapid Support Forces (RSF) on El-Fasher, the capital of North Darfur state.
• Yemen’s Houthi group announced that it targeted Israel’s Ben Gurion Airport, Eilat port and a military site in the Negev region in a series of coordinated missile and drone attacks.
• Two people were killed in an airstrike that hit the center of Dobropillia, a town in Ukraine’s eastern Donetsk region, officials said.
• At least 10 people, including two policemen, an army officer and four militants, were killed in separate incidents in Pakistan.
• Hundreds of Greeks gathered at Piraeus Port, one of the biggest in Europe, to block a shipment of military-grade steel to Israel.
• Beijing rejected NATO Secretary General Mark Rutte's warning that Brazil, China and India could be hit by secondary US sanctions if they maintain trade with Russia.
• Argentina's chief of staff confirmed that the government is embroiled in a "political crisis," citing escalating tensions and public accusations exchanged on social media between President Javier Milei and Vice President Victoria Villarruel.
• Israel’s ultra-Orthodox Shas Party announced the resignation of its ministers from Prime Minister Benjamin Netanyahu’s government, escalating tensions over the compulsory military draft for Haredi Jews.
• Federal prosecutor Maurene Comey, the daughter of former FBI Director James Comey, was fired from the US Department of Justice, NBC News reported, citing sources familiar with the matter.
• At least 21 Palestinians waiting to get aid were killed near a US distribution point in southern Gaza, including many who suffocated from tear gas fired by Israeli forces, the Health Ministry said.
• The UN humanitarian chief called on the Security Council to examine whether Israel is fulfilling its obligations under international law in the Gaza Strip.
• The International Criminal Court (ICC) rejected Israel’s request to cancel arrest warrants issued for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant and to suspend the ongoing investigation into crimes in the occupied Palestinian territories.

BUSINESS & ECONOMY

• Germany rejects European Commission’s $2.33T budget plan

The German government rejected the European Commission's proposed €2 trillion ($2.33 trillion) EU budget for 2028-2034.

Chancellor Friedrich Merz's spokesman described the suggested increase of approximately €700 billion as "unreasonable" during a time when all member states are tightening their national budgets.

• US stocks end higher after Trump says it’s ‘highly unlikely’ he would fire Fed chair

US stocks ended with gains after President Donald Trump said it is "highly unlikely" he would fire Fed Chair Jerome Powell, after reports indicated the contrary.

The Dow Jones Industrial Average rose 0.53%, or 231.49 points, to close at 44,254.78.

The Nasdaq added 0.25%, or 52.69 points, to 20,730.49 and the S&P 500 climbed 0.32%, or 19.94 points, to 6,263.70.