World News: Mexico holding talks with U.S. ahead of tariff pause deadline

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As the deadline for the exemption of U.S. tariffs on Mexican goods approaches, negotiations are taking place to reach a mutually beneficial trade agreement.

On Tuesday local time, Mexican President Claudia Sheinbaum said discussions with the U.S. are underway, aiming to prevent the imposition of tariffs on Mexican exports.

This follows a previous agreement in early February, where both nations consented to a one-month suspension of tariffs, set to expire on March 4.

The proposed U.S. tariffs include a 25% duty on all imports from Mexico. Mexico currently sends approximately 80% of its exports to the United States.

President Donald Trump has stated that these tariffs are "on time" and "on schedule" to commence as planned.

In response, President Sheinbaum expressed optimism about reaching a resolution but has also indicated that Mexico is prepared to implement retaliatory tariffs if necessary.

Germany's new chancellor-in-waiting, Friedrich Merz, is facing significant fiscal challenges in his bid to boost the nation's defense spending.

Following his party's recent election win, Merz has prioritized bolstering Germany's defense infrastructure, especially in light of recent global tensions and shifting alliances.

Merz had about 90 minutes of talks with outgoing chancellor Olaf Scholz on Tuesday local time and discussed ways to circumvent strict restrictions on debt so he could spend more on the military.

There is increased urgency to raise military spending, due to concerns over the United States' potential isolationist stance under President Donald Trump, and the need for Europe to assume greater independence for its security. However, efforts are impeded by the constitutional "debt brake" which restricts federal borrowing to 0.35% of the nation's GDP.

To navigate the debt brake constraints,.. Merz is exploring the establishment of a special defense fund, potentially amounting to 200 billion euros.

In Chile, a massive power outage swept across Chile on Tuesday local time, , leaving millions without power.

The blackout, which affected 14 of the country's 16 regions, including the capital, Santiago, was triggered by a failure in a 500 kilovolt transmission line in the Norte Chico region.

The disruption caused widespread halt of public services, including traffic signals and businesses.

Mining operations, the backbone of Chile's economy, were also impacted with some major sites experiencing power losses. The interior ministor ruled out cyberattacks as the cause and authorities are working on recovery efforts.

Venezuela is celebrating its first saint, as Pope Francis on Tuesday authorized the canonization of Dr. Jose Gregorio Hernandez, known as the "doctor of the poor."

Born in 1864, Hernandez was a physician renowned for his dedication to the underprivileged. He died in 1919 after being struck by a car while obtaining medicine for a patient.

Beatified in April 2021, his canonization date will be set in a forthcoming meeting of cardinals.

The historic event sparked a surge in sales of religious items and literature related to Hernandez,

reflecting his reverence among Venezuelans.

Choi Chi-hee, Arirang News.