International News 10 August 2026
-
German Trade Deficit with China Widens in H1 2026 as Exports Slump
Germany's trade deficit with China widened in the first half of 2026, even as China maintained its position as the nation's leading trading partner, according to preliminary data from government agency Germany Trade & Invest (GTAI) released on Sunday. The figures, reported by Reuters, reveal that German exports to China dropped more than 12% year-on-year to just under €37 billion between January and June. This decline reflects a broader shift by Chinese firms to reduce their dependence on European imports, which has caused China to slip to the ninth-largest export destination for German goods—a sharp contrast from 2021 when it was the second-largest, absorbing €104 billion worth of German products despite pandemic disruptions. The widening gap highlights the growing headwinds facing Germany's core manufacturing sector, which is caught between intense competition from China and the pressure of U.S. tariffs. These combined challenges have severely strained the country's industrial backbone, triggering sweeping job cuts across major corporations, including prominent automakers like Volkswagen.
Iran-Oman Hormuz Deal Nears, but Reopening Shipping Route Remains Uncertain
Iran has stated that a deal with Oman regarding control over the Strait of Hormuz is close, though it is not yet sufficient to reopen the strategic shipping lane. Meanwhile, the United Arab Emirates reported that Iran struck another vessel in the area. According to Reuters on Sunday (August 9, 2026), an agreement between Iran and Oman is viewed as a vital component of a broader deal to conclude the conflict that began with U.S. and Israeli attacks on Iran on February 28, which prompted Tehran to seize control of and restrict access to the crucial energy export route. Despite ongoing incidents, Washington anticipates progress toward restoring maritime flow through the waterway. Speaking on condition of anonymity on Friday, a U.S. official stated that the United States expects Iran and Oman—which sit on opposite sides of the strait—to finalize an agreement soon, paving the way for global oil traffic to return to normal.
Netanyahu Rejects Trump's 15-Point Gaza Peace Plan, Demands Total Disarmament
Prime Minister Benjamin Netanyahu announced that Israel has rejected U.S. President Donald Trump's 15-point peace plan for Gaza, reiterating on Sunday that Israeli forces will not withdraw until Hamas is entirely disarmed. Netanyahu emphasized that the demilitarization must encompass both heavy and light weaponry, underscoring that Israel demands genuine and verifiable disarmament rather than mere superficial measures. In a video address cited by Israeli media outlet Yedioth Ahronoth, Netanyahu noted that Israel remains in active discussions with the United States and has reviewed several ideas proposed by Washington, stating, "Some of them we can accept, while others we cannot." Netanyahu's steadfast stance was welcomed by Israeli Finance Minister Bezalel Smotrich, who praised the Prime Minister's remarks and reiterated to Reuters on Sunday that Israel entered the war with one primary goal: the complete destruction of Hamas.