North Korea executes U.S. nuclear envoy after failed Trump summit: report - USA TODAY

Kim Hjelmgaard USA TODAY

Published 3:49 AM EDT May 31, 2019

North Korea executed its special nuclear envoy to the United States as part of a purge of senior officials over the failed summit between leader Kim Jong Un and President Donald Trump, South Korea's Chosun Ilbo newspaper claimed Friday. 

Kim Hyok Chol was executed by firing squad in March along with four other foreign ministry officials, the paper reported, citing an unidentified North Korean source.

North Korea neither confirmed nor denied the report. South Korea's government was not able to confirm the claim. Previous media reports about the fate of North Korean officials who have fallen afoul of Pyongyang's leader have proven to be false.  

Trump's North Korea diplomacy: It looks troubled. It may not mean war

Chosun Ilbo reported Kim Hyok Chol and the other senior officials were shot after being accused of spying for the United States. The paper reported Kim Jong Un ordered the purge amid mounting dissatisfaction with the summit in Hanoi – the second time Kim and Trump met for face-to-face talks. In Vietnam, they failed to reach a deal because of conflicts over the White House's call for complete denuclearization of the Korean peninsula and North Korean demands for sanctions relief.

Since then, amid a diplomatic standoff between Pyongyang and Washington, North Korea has resumed testing short-range ballistic missiles, ending a pause in launches that began in late 2017. The tests are viewed as a way for Kim to pressure Trump to ease sanctions without actually causing negotiations to collapse.

There was no immediate reaction to Chosun Ilbo's report from the White House.

"North Korea fired off some small weapons, which disturbed some of my people, and others, but not me," Trump tweeted during a recent trip to Japan. 

Diplomacy?: Bolton says latest North Korea missile test violates U.N. resolution

Let's block ads! (Why?)

https://www.usatoday.com/story/news/world/2019/05/31/north-korea-executes-senior-officials-over-failed-trump-summit-report/1296383001/

2019-05-31 07:37:00Z
52780306446645

John Negroponte: Trump's new tariff on Mexico is 'bad politically and bad economically' - CNBC

A widely followed former American diplomat questioned on Friday whether President Donald Trump was adopting the right strategy by threatening Mexico with a new tariff because of immigration issues.

Trump announced Thursday that his country plans to impose a 5% tariff on all Mexican imports from June 10. In a statement, he attributed that unexpected move to a "border crisis" that has resulted in America being "invaded by hundreds of thousands of people." He even suggested that he could raise the tariff on Mexico's goods to 25% by Oct. 1 this year if the country did not sufficiently halt the flow of migrants into the U.S.

Speaking with CNBC's "Street Signs" on Thursday evening U.S. time, John Negroponte questioned whether Trump's move would have the desired effect.

"I think it's both bad politically and bad economically and I don't think it's really going to help solve the immigration problem, either, which is what Mr. Trump said he's trying to attack," said Negroponte, current vice chairman of consultancy McLarty Associates and formerly U.S. ambassador to Honduras, Mexico, the Philippines, the United Nations, and Iraq.

Mexico, for its part, has said it would not respond well to economic threats.

In a letter addressed to Trump, Mexican President Andrés Manuel López Obrador said he did not want confrontation, and that leaders have a responsibility to seek peaceful solutions to controversies.

John Negroponte on July 17, 2018 in Bogota, Colombia.

Gabriel Aponte | Getty Images

"President Trump: Social problems cannot be resolved with taxes or coercive measures," the Mexican leader wrote.

Negroponte told CNBC he agreed with that sentiment. Still, he said, perhaps now is the time that Washington and Mexico City can come together on the issue. 

In fact, in his letter to Trump, López Obrador requested that U.S. and Mexican officials begin meeting on Friday to discuss how to "reach an agreement for the benefit of both nations."

Even from a domestic politics standpoint, Trump may have overplayed his hand with the new tariff threat.

U.S. Senate Finance Committee Chairman Chuck Grassley, a Republican who represents Iowa, slammed the move. He called it a "misuse of presidential tariff authority."

"Trade policy and border security are separate issues," Grassley said in a statement following the Trump's announcement. "Following through on this threat would seriously jeopardize passage of USMCA, a central campaign pledge of President Trump's and what could be a big victory for the country," he warned.

The USMCA refers to the new trade agreement between the U.S., Mexico and Canada, which lawmakers had yet to approve. Several experts suggested that the deal, an updated version of the North American Free Trade Agreement, could now face real difficulties getting passed.

Let's block ads! (Why?)

https://www.cnbc.com/2019/05/31/john-negroponte-trump-tariff-on-mexico-bad-politically-economically.html

2019-05-31 04:49:43Z
52780305674640

John Negroponte: Trump's new tariff on Mexico is 'bad politically and bad economically' - CNBC

A widely followed former American diplomat questioned on Friday whether President Donald Trump was adopting the right strategy by threatening Mexico with a new tariff because of immigration issues.

Trump announced Thursday that his country plans to impose a 5% tariff on all Mexican imports from June 10. In a statement, he attributed that unexpected move to a "border crisis" that has resulted in America being "invaded by hundreds of thousands of people." He even suggested that he could raise the tariff on Mexico's goods to 25% by Oct. 1 this year if the country did not sufficiently halt the flow of migrants into the U.S.

Speaking with CNBC's "Street Signs" on Thursday evening U.S. time, John Negroponte questioned whether Trump's move would have the desired effect.

"I think it's both bad politically and bad economically and I don't think it's really going to help solve the immigration problem, either, which is what Mr. Trump said he's trying to attack," said Negroponte, current vice chairman of consultancy McLarty Associates and formerly U.S. ambassador to Honduras, Mexico, the Philippines, the United Nations, and Iraq.

Mexico, for its part, has said it would not respond well to economic threats.

In a letter addressed to Trump, Mexican President Andrés Manuel López Obrador said he did not want confrontation, and that leaders have a responsibility to seek peaceful solutions to controversies.

John Negroponte on July 17, 2018 in Bogota, Colombia.

Gabriel Aponte | Getty Images

"President Trump: Social problems cannot be resolved with taxes or coercive measures," the Mexican leader wrote.

Negroponte told CNBC he agreed with that sentiment. Still, he said, perhaps now is the time that Washington and Mexico City can come together on the issue. 

In fact, in his letter to Trump, López Obrador requested that U.S. and Mexican officials begin meeting on Friday to discuss how to "reach an agreement for the benefit of both nations."

Even from a domestic politics standpoint, Trump may have overplayed his hand with the new tariff threat.

U.S. Senate Finance Committee Chairman Chuck Grassley, a Republican who represents Iowa, slammed the move. He called it a "misuse of presidential tariff authority."

"Trade policy and border security are separate issues," Grassley said in a statement following the Trump's announcement. "Following through on this threat would seriously jeopardize passage of USMCA, a central campaign pledge of President Trump's and what could be a big victory for the country," he warned.

The USMCA refers to the new trade agreement between the U.S., Mexico and Canada, which lawmakers had yet to approve. Several experts suggested that the deal, an updated version of the North American Free Trade Agreement, could now face real difficulties getting passed.

Let's block ads! (Why?)

https://www.cnbc.com/2019/05/31/john-negroponte-trump-tariff-on-mexico-bad-politically-economically.html

2019-05-31 04:47:43Z
52780305674640

Here's why China's trade war threat to restrict rare earth minerals is so serious - CNBC

Miners are seen at the Bayan Obo mine containing rare earth minerals, in Inner Mongolia, China July 16, 2011.

Stringer | Reuters

Rare earth minerals are a suite of 17 elements mineable in the earth's crust, with names such as cerium, europium and lutetium. They are commonly used in everything from car motors and electronics to oil refining and clean diesel to many major weapons systems the U.S. relies on for national security, including lasers and radar.

About 35% of rare earth global reserves are in China, the most in the world, and the country is a mining machine, producing 120,000 metric tons or 70% of total rare earths in 2018, according to the United States Geological Survey. The U.S. pales in comparison as it mined 15,000 metric tons of rare earths in 2018 and has a total of 1.4 million metric tons of reserves, versus China's 44 million.

U.S. consumption of rare earth compounds and metals relies heavily on imports, which rose to $160 million in 2018, according to USGS. Eighty percent were from China. To make it worse, although other countries supply to the U.S. including Estonia (6%), France (3%) and Japan (3%), much of their materials were derived from mineral concentrates and chemical substances produced in China, according to Hui Shan, commodities analyst at Goldman Sachs.

"The U.S.' reliance on Chinese supply may be higher than the import breakdown data suggest on the surface," Shan said in a note on Wednesday.

Given U.S. dependence on Chinese supply, the threat of a restriction could hurt many industries including high-tech devices, automotives, clean energy and defense. An example is the element lanthanum.

"The glass industry is the largest consumer of rare earths. For example, lanthanum makes up as much as 50% of digital camera lenses, including cell phone cameras. Hybrid electric cars use significant amounts of lanthanum in its batteries – 10-15 kilograms per vehicle," said Michael Widmer, metals strategist at Bank of America Merrill Lynch, in a note.

"Dangerous interaction"

Rare earth materials are also crucial to the U.S. defense systems because of their usage in lasers, radar, sonar, night vision systems, missile guidance, jet engines, and even alloys for armored vehicles, all of which the U.S. relies upon for national security.

The Pentagon on Wednesday presented a report to Congress on rare earth minerals in an effort to reduce reliance on China. The move came after the Chinese newspaper People's Daily warned it would cut off the rare earth supply, saying "don't say we didn't warn you. "

In a 2018 report by the Department of Defense, China's domination of rare earth elements was highlighted as it shows "the potentially dangerous interaction between Chinese economic aggression guided by its strategic industrial policies and vulnerabilities and gaps in America's manufacturing and defense industrial base."

"China has strategically flooded the global market with rare earths at subsidized prices, driven out competitors, and deterred new market entrants," the report said.

Non-Chinese suppliers

While China remains a dominant player in the rare earth market, production outside of the country is also growing, which could provide the U.S. with some alternatives, according to Credit Suisse.

Non-Chinese production has grown to about 29% of the global production from just 3% in 2009, said Manish Nigam, Credit Suisse's equity analyst said in a note on Thursday.

"A U.S. facility is under a revival plan since last year, and the fully operational Australian/ Malaysian venture (Lynas) has a production capacity that is more than the entire demand of the U.S., though processing of some oxides still gets done in China," Nigam said.

The impact of an export ban would be somewhat diffused across different U.S. sectors and countries, Nigam said, noting that electric vehicles and clean energy would be impacted the most.

Still, any escalation at this point poses a threat to the market as stocks continue to suffer amid the tit-for-tat strategies in the trade war. The S&P 500 is down 5.4% in May, on track to post its first negative month of the year.

"The effect of China restricting its rare earth exports to the US could have a much larger impact on the broader market this time around because of the ongoing US-China trade war," said Goldman's Shan. "Investors probably would expect further retaliations from the US and risk assets such as copper could face even more headwinds than it is currently under."

— CNBC's John Schoen and Michael Bloom contributed reporting.

Let's block ads! (Why?)

https://www.cnbc.com/2019/05/30/heres-why-chinas-trade-war-threat-to-restrict-rare-earth-minerals-is-so-serious.html

2019-05-30 17:37:35Z
52780304998936

If we can't challenge China, no one can, warns operator of only US mine for rare earth metals - CNBC

The only rare earth metals-producing mine in the U.S. is facing short-term refining challenges as the nation to looks to reduce its reliance on China for the materials due to the trade war.

China dominates the refining and mining of rare earth minerals, which are key to the making of everything from iPhones to rechargeable batteries to military weapons.

"We're it," James Litinsky, co-chairman of MP Materials, which owns the Mountain Pass mine, said Thursday on CNBC's "Squawk Box. " "If we can't be economic, there's no hope for the U.S. industry."

Mountain Pass, located in California, ships nearly 50,000 tons of rare earth concentrate to China each year for processing, according to a Reuters report.

"There's no refining capacity in the world outside of China," said Litinsky.

China has imposed a 25% tariff on rare earth imports during the trade war, making the operator of the Mountain Pass mine the only U.S. company affected by this specific retaliation.

Meanwhile, China threatened this week to cut off rare earth mineral sales to the U.S., after President Donald Trump blacklisted Chinese telecom giant Huawei. Speculation about payback first surfaced when Chinese President Xi Jinping visited rare earth mining and processing facilities during a domestic tour last week.

The Pentagon, according to Reuters, recently presented a report to Congress on the rare earths market and how to find alternative sources from China.

A move by Beijing to follow through on its threat would be a "major escalation" of the trade war, Ray Dalio, co-founder of the world's largest hedge fund, wrote in a LinkedIn post Wednesday. Bridgewater Associates' Dalio also called the materials a "critical import that American companies don't produce and need to get from China."

Litinsky estimated that Mountain Pass should be self-sufficient from China by next year and produce its own separated rare earth products.

But for now, Litinsky said, China is it when it comes to processing. "We're talking to the [U.S.] government and hoping they'll help us, but we're not counting on it."

— Reuters contributed to this report.

Let's block ads! (Why?)

https://www.cnbc.com/2019/05/30/if-we-cannot-challenge-china-no-one-can-warns-only-us-rare-earths-mine.html

2019-05-30 14:56:56Z
52780304998936

Mount Everest climbers seen crushed together in new video as Nepal debates limiting permits - Fox News

A crush of climbers waiting to ascend the world's tallest summit can be seen in a new video amid the ongoing debate whether Nepal should limit permits to prevent dangerous overcrowding on the world's highest peak.

Eleven people have died so far this year on Mount Everest -- including nine in Nepal -- likely due to altitude sickness, which is caused by low amounts of oxygen at high elevation and can lead to headaches, vomiting, shortness of breath and mental confusion.

Nepal has issued permits to 381 people to climb Everest, which the government says is the greatest number ever.

MOUNT EVEREST DEATH SPIKE PROMPTING REVIEW OF 'ALL THE OLD LAWS,' NEPAL OFFICIAL SAYS

Video filed by Rohtash Khileri and posted to Instagram shows dozens of climbers as they wait in line before making their way towards the 29,035-foot peak.

"Waiting for climbing up," he wrote on the video that's attracted over 19,000 views.

Another video shows the jam of climbers further up as they await the turn to get to the summit.

"Every climber trying to climb up. Due to bad weather and more climbers is a jam," he wrote. "Waiting their turn to reach the summit, mountaineers."

Because of the altitude, climbers have just hours to reach the top before they are at risk of pulmonary edema, when the lungs fill with liquid causing respiratory failure. Mountaineers have described traffic jams caused by exhausted rookies in the "death zone," the final phase of the ascent from Camp Four at 26,240 feet to the 29,035-foot peak.

About half a dozen climbers died on Everest last week most while descending from the congested summit during only a few windows of good weather each May. (Nimsdai Project Possible via AP)

Renowned mountaineer Um Hong-gil of South Korea, who was honored by the Nepal government Wednesday at an event commemorating the 66th anniversary of the first ascent of Everest, said the number of climbers should be scaled back and only those with proper training and experience should be allowed.

"There should definitely be less permits issued and more experienced climbers on Everest," Um said.

EXPERT CLIMBER SAYS OVERCROWDING, INEXPERIENCE CAUSED INCREASE IN MOUNT EVEREST DEATHS

Expert mountaineer and speaker Alan Arnette, who has climbed Everest four times told "FOX & friends" on Wednesday that 2019 has been "a little bit of an anomaly but it wasn't unheard of" as a now-viral photo of hikers lining up to reach the iconic summit has highlighted the problem.

"The key factor this year was a limited number of days where the wind was low enough to be able to summit that contributed to the crowds,"  Arnette said. "That meant there were close to 800 people trying to go up in what last year was 11 straight days of suitable weather, and this year was only three."

Nepal's Mountaineering Association, an umbrella body of expedition operators, has said it would push the government to enact policies to "control the inexperienced climbers from attempting to scale Everest."

The association's president, Santa Bir Lama, told the Associated Press that government permits, which are often issued to climbers just days before their expeditions, should be issued months in advance to give climbers time to fully prepare.

In this May 22, 2019 photo, a long queue of mountain climbers line a path on Mount Everest just below camp four, in Nepal. (AP Photo/Rizza Alee)

While government officials have said there were no plans to cap permits, another official had a different response to the New York Times on Wednesday.

CLICK HERE FOR THE FOX NEWS APP

“Certainly there will be some change in the expedition sector,” Mira Acharya, a senior official with Nepal’s tourism department, told the newspaper. “We are discussing reforming some issues, including setting criteria for every Everest hopeful."

Fox News' Anna Hopkins and The Associated Press contributed to this report.

Let's block ads! (Why?)

https://www.foxnews.com/world/mount-everest-climbers-crushed-together-nepal-permit

2019-05-30 13:48:03Z
52780305694609

At least 11 people died on Mount Everest last week. But it's just the 10th deadliest mountain in the Himalayas. - Business Insider

Mount Everest is the tallest mountain in the world: 29,029 feet (8,848 meters).Wikimedia Commons

If climbers want to summit Mount Everest, they have to brave the "death zone" — the area above 8,000 meters (26,247 feet) in altitude, where there is so little oxygen that the body starts to die, minute by minute and cell by cell.

Last week, at least 11 people died on Everest, which is the tallest peak in the world at 29,029 feet (8,848 meters or 5.5 miles) above sea level. Some reportedly collapsed from exhaustion after waiting in line for hours to ascend to the summit on narrow parts of the route.

Read More: What happens to your body in Mount Everest's 'Death Zone,' where 11 people have died in the past week

But Everest isn't the only Himalayan peak on which climbers face the death zone. In fact, nine other mountains are deadlier than Everest.

According to NASA's Earth Observatory, Annapurna I — the 10th highest mountain in the world — is the most dangerous to climb, with a fatality rate of 32% as of 2012. K2, second-highest peak in the world, is almost as dangerous, with a fatality rate of 29%. Everest, by contrast, has a 4% fatality rate.

Granted, Mount Everest has seen many tragedies since 2012. In 2015, a magnitude 7.8 earthquake struck Nepal, sending an avalanche careening into Everest's Base Camp. More than 20 people were killed.

Here are the 10 deadliest mountains in the Himalayas — in order from most to least deadly — according to NASA.

Let's block ads! (Why?)

https://www.businessinsider.com/mount-everest-10th-deadliest-mountain-himalayas-2019-5

2019-05-30 12:21:56Z
52780305694609