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International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the ‘Company’ or ‘ILC’) is pleased to announce that it is increasing the size of its non-brokered private placement financing (the ‘Offering’) from $600,000 to $855,000 and extending the closing of the Offering to May 30, 2025. The Offering was originally announced on February 5, 2025. The upsized Offering is comprised of up to 57,000,000 common shares of the Company at a price of $0.015 per share for gross proceeds of up to $855,000.

On March 31, 2025, the Company closed the first tranche the Offering and issued 23,666,666 common shares at $0.015 per share for proceeds of $355,000. The proposed payments from the first tranche proceeds included $183,600 to pay the outstanding fees to non-arm’s length creditors.

Proceeds of the private placement will be used primarily for general working capital purposes. The payments to persons conducting Investor Relations Activities shall not exceed 10% of the proceeds.

Closing of the Offering is subject to acceptance by the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws.

It is anticipated that some directors and insiders will participate in the future tranches of the Offering. The issue of shares (to the extent subscribed for by insiders) constitute ‘related party transactions’ pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101’), as the subscribers include directors of the Company. The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the shares in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the shares does not exceed 25% of the Company’s market capitalization.

About International Lithium Corp.

While the world’s politicians are currently divided on the future of the energy market’s historic dependence on oil and gas and on ‘Net Zero’, there seems a clear and unstoppable momentum towards electric vehicles and electric battery storage. We have also seen the clear and increasingly urgent wish by the USA and Canada and other major economies to safeguard their supplies of critical metals and to become more self-sufficient. Our Canadian projects, which contain lithium, rubidium and copper, are strategic in that respect.

Our key mission in the next decade is to make money for our shareholders from lithium and other battery metals and rare metals while at the same time playing our part in creating a greener, cleaner planet and less polluted cities. This includes optimizing the value of our existing projects in Canada as well as finding, exploring and developing projects that have the potential to become world class deposits. We have announced separately that we regard Zimbabwe as an important strategic target market for ILC, and that we have applied for and hope to receive EPOs there. We hope to be able to make announcements over the next few weeks and months.

The Company’s interests in various projects now consists of the following, and in addition the Company continues to seek other opportunities:

Name Metal Location Area (Hectares) Current Ownership Percentage Future Ownership percentage if options exercised or work carried out Operator or JV Partner
Raleigh Lake Lithium
Rubidium
Ontario 32,900 100% 100% ILC
Firesteel Copper
Cobalt
Ontario 6,600 90% 90% ILC
Wolf Ridge Lithium Ontario 5,700 0% 100% ILC
Mavis Lake Lithium Ontario 2,600 0% 0%
(carries an extra earn-in payment of CAD$ 0.7 million if resource targets met)
Critical Resources Ltd
( ASX: CRR)
Avalonia* Lithium Ireland 29,200 0% 2.0% Net Smelter Royalty Ganfeng Lithium
Forgan/
Lucky Lakes
Lithium Ontario 0% 1.5% Net Smelter Royalty Ultra Lithium Inc.
( TSXV: ULT)
*Sale not completed yet

 

The Company’s primary strategic focus at this point is on the Raleigh Lake lithium and rubidium project and the Firesteel copper project in Canada and on obtaining EPOs and mineral claims in Zimbabwe.

The Raleigh Lake Project now consists of 32,900 hectares (329 square kilometres) of mineral claims in Ontario and is ILC’s most significant project in Canada. Drilling has so far been on less than 1,000 hectares of our claims. A Preliminary Economic Assessment( PEA) was published for ILC’s lithium at Raleigh Lake in December 2023, with detailed economic analysis of ILC’s separate rubidium resource still to come. Raleigh Lake is 100% owned by ILC, is not subject to any encumbrances, and is royalty free. The project has excellent access to roads, rail and utilities.

A continuing goal has been to remain a well-funded company to turn our aspirations into reality, and following the disposal of the Mariana project in Argentina in 2021, the Mavis Lake project in Canada in January 2022, and the Avalonia project in 2024 (sale not completed yet), ILC has achieved sufficient inward cashflow to be able to make progress with its exploration projects.

With the increasing demand for high tech rechargeable batteries used in electric vehicles and electrical storage as well as portable electronics, lithium has been designated ‘the new oil’ and is a key part of a green energy sustainable economy. By positioning itself with projects with significant resource potential and with solid strategic partners, ILC aims to be one of the lithium and rare metals resource developers of choice for investors and to continue to build value for its shareholders in the ’20s, the decade of battery metals.

On behalf of the Company,

John Wisbey
Chairman and CEO

www.internationallithium.ca

For further information concerning this news release please contact +1 604-449-6520

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release or other releases contain certain ‘forward-looking information’ within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the timing of completion of the Offering and the amounts to be raised, effect of results of anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or Firesteel or Wolf Ridge projects, the expectation of resource estimates, preliminary economic assessments, feasibility studies, lithium or rubidium or copper recoveries, modeling of capital and operating costs, results of studies utilizing various technologies at the company’s projects, budgeted expenditures and planned exploration work on the Company’s projects, increased value of shareholder investments, the potential from the company’s third party earn-out or royalty arrangements, and assumptions about ethical behaviour by our joint venture partners or third party operators of projects. Such forward-looking information is based on assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled ‘Risks’ and ‘Forward-Looking Statements’ in the interim and annual Management’s Discussion and Analysis which are available at www.sedar.com. While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic, legislative, and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250515

News Provided by Newsfile via QuoteMedia

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Manganese, a key ingredient for the steel market, is also seeing growth in demand from the electric vehicle battery sector, particularly when it comes to high-purity manganese chemical products.

Manganese investors are often interested to hear which countries produce the most of the metal. After all, if a nation is producing a lot of manganese, many companies are likely operating there, and investment opportunities may thus be available.

However, what investors sometimes fail to consider is manganese reserves, or how much economically mineable manganese a country holds, and which companies are working to bring those reserves into production.

Here’s an overview of the five countries with the highest manganese reserves. Data for this list of manganese reserves by country comes from the US Geological Survey’s 2025 report on manganese.

1. South Africa

Manganese reserves: 560 million metric tons

At 560 million metric tons, South Africa holds the highest manganese reserves in the world by a long shot. The nation is also the world’s top producer of the metal, with 2024 output of 7.4 million metric tons.

South32 (ASX:S32,LSE:S32,OTC Pink:SHTLF) is a major presence in the South African manganese space. Its South Africa Manganese operation is located in the manganese-rich Kalahari Basin and consists of the open-pit Mamatwan mine, the underground Wessels mine and the Metalloys manganese alloy smelter.

Another ASX-listed manganese miner, Jupiter Mines (ASX:JMS,OTC Pink:JMXXF) is also operating in the area at its Tshipi Borwa mine, considered the largest manganese mine in country and one of the largest in the world.

2. China

Manganese reserves: 280 million metric tons

The country with the next highest manganese reserves is China at 280 million metric tons of manganese. The Asian nation is also the sixth largest producer of manganese ore, the largest producer of refined manganese and the largest consumer of the metal. Unsurprisingly, China’s economy and government regulations have an outsized impact on the global manganese market.

There have been several significant manganese discoveries in China over the last decade. In late 2023, new manganese deposits were discovered in the southeast province of Jiangxi during government-led exploration work, and manganese deposits were discovered in the southwest province of Guizhou in 2017. More recently, in March 2025, Chinese government geologists confirmed an inferred resource estimate of 6.07 million tons of manganese ore in the Maowanli manganese project in the Sichuan province.

Looking further down the value added chain, Australian miner Firebird Metals (ASX:FRB,OTC Pink:FRBMF) has partnered with a subsidiary of China National Chemical Engineering Co. (SHA:601117) to build a high-purity manganese sulphate plant in China, which has entered pilot production. Firebird has an ore supply agreement in place with Eramet (EPA:ERA) for manganese ore to feed the plant, and it could potentially be supplied by Firebird’s Oakover manganese project in Australia in the future.

3. Brazil

Manganese reserves: 270 million metric tons

Brazil hosts a total of 270 million metric tons of manganese reserves as of 2024. The country produced 590,000 metric tons of the metal in 2024, making it the seventh-largest manganese-producing country.

Buritirama Mining, a subsidiary of Grupo Buritipar, is Brazil’s leading producer of the metal. The company invested US$200 million in 2023 to expand operations at its Para state mine.

Major miner Vale (NYSE:VALE), previously the largest manganese miner in the country, offloaded its Brazilian manganese and iron ore assets to J&F Investimentos in 2022. Going forward, J&F has said it plans to invest more than US$1 billion in increasing the iron ore and manganese output from the mines it purchased from Vale.

4. Australia

Manganese reserves: 110 million metric tons

At 110 million metric tons, Australia holds the fourth highest manganese reserves in the world. The nation is also the world’s third largest producer of the metal. In 2024, Australia’s manganese output came in at 2.8 million metric tons.

Australia’s largest manganese ore producer is Groote Eylandt, a 60/40 joint venture between South32 and Anglo American (LSE:AAL,OTCQX:AAUKF), in the nation’s Northern Territory. In mid-March 2024, operations at Groote Eylandt were negatively impacted by Tropical Cyclone Meghan — the second strongest cyclone to hit the area in the past two decades.

The storm damaged critical infrastructure at the site, including a haulage bridge between the mine and processing facilities, as well as the wharf from which manganese ore is shipped. South32 is currently conducting engineering studies to determine a schedule and capital costs to make the repairs needed to restore operations at Groote Eylandt.

As of mid-April 2025, South32 had completed construction at the wharf and expected to start export sales again in May.

5. Gabon

Manganese reserves: 61 million metric tons

Gabon hosts the fifth largest manganese reserves in the world at 61 million metric tons; however, the Central African nation is the second largest producer of the metal with an output of 4.6 million metric tons in 2024.

Gabon is also the largest source of US manganese imports at 63 percent in 2024 compared to 23 percent from South Africa.

Eramet’s Moanda mine is a centerstone of the country’s manganese mining sector and it is based on one of the world’s richest manganese deposits. Eramet is the world’s second largest miner of high-grade manganese ore and operates the mine through its subsidiary COMILOG. In response to an oversupplied market, Eramet temporarily paused production at Moanda in the fourth quarter of 2024, but it has since recommenced.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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The Trump administration has finalized a profit-sharing agreement with Ukraine that will give the US a 50 percent stake in future revenues from the war-torn country’s stores of critical minerals.

At the heart of the deal, announced on Wednesday (April 30), is a set of materials that are foundational to both economic growth and national security, including graphite, lithium, titanium, beryllium and uranium.

The deal also covers the 17 rare earth elements, which are key components in the manufacturing of clean energy technologies like wind turbines, solar panels, electric vehicles and modern weapons systems.

According to US Secretary of the Treasury Scott Bessent, the deal is part of Washington’s broader vision for “a peace process centred on a free, sovereign, and prosperous Ukraine over the long term.”

“President Trump envisioned this partnership between the American people and the Ukrainian people to show both sides’ commitment to lasting peace and prosperity in Ukraine,” Bessent added in a statement.

While emphasizing a commitment to peace in Ukraine, he also issued a warning: any entity ‘who financed or supplied the Russian war machine’ will be barred from taking part in Ukraine’s reconstruction, a thinly veiled reference to Russia’s state-backed energy and mining sectors, as well as Chinese firms with close ties to Moscow.

The US currently imports many key minerals. The US Geological Survey states that of the 50 minerals it classifies as “critical,” the country is 100 percent import-dependent on 12 of them, and more than 50 percent dependent on 16 others.

Meanwhile, China has established near-total dominance over global rare earths production and refining, raising alarms in western capitals about overreliance on a strategic rival.

Ukraine, in contrast, is sitting on a potential treasure trove. The Ukrainian government says it has deposits of 22 of the 50 critical minerals the US deems critical, including some of the world’s largest graphite and lithium reserves.

Many of these resources are located in the country’s eastern and southern regions, some of which remain under Russian occupation and are worth an estimated US$500 billion in untapped reserves.

A deal born of conflict and eventual compromise

The minerals deal has a fraught history, with Trump originally pitching it as a way for the US to be “repaid” for military assistance provided to Ukraine since Russia’s full-scale invasion in 2022.

Trump claims the US has sent over US$350 billion in aid, a figure far higher than the official tally of US$183 billion listed on the US government’s own Ukraine Oversight webpage.

That early version of the agreement collapsed after a tense Oval Office meeting on February 28, during which Trump blamed Ukrainian President Volodymyr Zelenskyy for failing to prevent Russia’s invasion.

Negotiations were revived following a more conciliatory conversation between the two leaders during Pope Francis’ funeral in Rome. Since then, Trump has softened his public rhetoric toward Kyiv while sharpening criticism of Russian President Vladimir Putin, who has dismissed Trump’s ceasefire overtures.

Speaking at a White House cabinet meeting on the day the deal was signed, Trump defended the agreement as a necessary course correction after years of what he described as “throwing money out the window.”

“We had no security, we had no nothing — just pouring money there, unsecured money,” Trump said. “So I said, ‘Well, we want something for our efforts beyond what you would think to be acceptable.’”

The final version of the deal, confirmed by Ukrainian Economy Minister Yulia Svyrydenko, establishes a joint development fund with equal 50/50 profit sharing. “It is important that the agreement will become a signal to other global players that it is reliable to cooperate with Ukraine in the long term — for decades,” she said in a post on X, also emphasizing that Kyiv will retain sovereign control over resource management.

Still, the negotiations came down to the wire. Bessent admitted that Ukrainian officials had proposed last-minute changes, delaying the signing until the afternoon.

The precise terms of the final accord remain under wraps, and the treasury department has declined to release a full copy, despite reporting from the Washington Post and the Kyiv Independent on key provisions.

Opportunities and risks moving forward

While Trump has portrayed the agreement as a personal victory and proof of his commitment to “peace through strength,” some analysts caution that the US-Ukraine minerals partnership could be vulnerable to future instability.

Ed Verona, a senior fellow at the Atlantic Council’s Eurasia Center, has warned that “few serious US investors will put their shareholders’ money at risk based on such a clearly unbalanced ‘deal.’”

Verona cited Russia’s own resource history as a cautionary tale. “Production sharing agreements signed during the difficult transitional period of the 1990s were subsequently repudiated by Putin’s regime, with Western partners forced to surrender control and majority ownership in major projects,” he said.

Moreover, with no security guarantees attached to the deal, Ukraine’s ability to develop its resource sector could still be jeopardized by continued fighting, especially as some of the most mineral-rich regions remain under Russian control.

As the G7 Summit in Kananaskis, Alberta, approaches, where Canadian Prime Minister Mark Carney and Zelenskyy are expected to meet again, western unity on Ukraine’s reconstruction will be under scrutiny.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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The Justice Department (DOJ) has filed lawsuits against four Democrat-led states: Hawaii, Michigan, New York and Vermont, over what it calls unconstitutional climate policies that threaten U.S. energy independence and national security.

The move follows President Donald Trump’s Executive Order 14260, Protecting American Energy from State Overreach, directing federal action against state laws that burden domestic energy development.

‘These burdensome and ideologically motivated laws and lawsuits threaten American energy independence and our country’s economic and national security,’ said Attorney General Pam Bondi.

‘The Department of Justice is working to ‘Unleash American Energy’ by stopping these illegitimate impediments to the production of affordable, reliable energy that Americans deserve.’

The DOJ filed complaints Tuesday against New York and Vermont over newly passed ‘climate superfund’ laws, which would impose strict liability on fossil fuel companies for alleged contributions to climate change.

New York’s law alone seeks $75 billion in damages from energy firms. According to the DOJ, these laws are preempted by the federal Clean Air Act, violate the Constitution, and infringe on federal foreign affairs powers.

‘These state laws assess penalties on businesses for global activities that Congress has not authorized states to regulate,’ the DOJ argued in its filings.

Separate lawsuits were filed Monday against Hawaii and Michigan to block those states from suing fossil fuel companies in state court over past climate harms. The DOJ argues that those states’ litigation would place unconstitutional burdens on energy producers.

‘When states seek to regulate energy beyond their constitutional or statutory authority, they harm the country’s ability to produce energy and they aid our adversaries,’ said Acting Assistant Attorney General Adam Gustafson.

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President Donald Trump late Thursday announced plans to designate May 8 as World War II ‘Victory Day’ in the United States, which coincides with the ‘Victory in Europe Day’ that has been celebrated in most of Europe since the Germans surrendered in 1945.

Trump acknowledged in a Truth Social that ‘many of our allies and friends’ already celebrate on May 8, but said America should join in because ‘we did more than any other Country, by far, in producing a victorious result.’

On May 7, 1945, the Germans surrendered to the Allied Forces, and agreed to cease all operations the next day. 

World War II officially ended later in the year on Sept. 2 when the Japanese signed an instrument of surrender, though Japan waved a white flag on Aug. 14 – about a week after the United States dropped atomic bombs on Hiroshima and Nagasaki.

The U.S. does not have any public holidays commemorating World War II specifically, but there have been remembrance ceremonies in May, August and September across the country for decades.

Former President Harry Truman, who was in office during the end of WWII, issued a proclamation in August 1946 declaring Aug. 14 as ‘Victory Over Japan Day.’

‘And I call upon the people of the United States to observe Victory Day as a day of solemn commemoration of the devotion of the men and women by whose sacrifices victory was achieved, and as a day of prayer and of high resolve that the cause of justice, freedom, peace, and international good-will shall be advanced with undiminished and unremitting efforts, inspired by the valor of our heroes of the Armed Services,’ Truman’s proclamation read, in part.

In the same post, Trump stated that Nov. 11 will also be recognized as World War I ‘Victory Day.’

‘We won both Wars, nobody was close to us in terms of strength, bravery, or military brilliance, but we never celebrate anything,’ the president wrote. ‘That’s because we don’t have leaders anymore, that know how to do so! We are going to start celebrating our victories again!’

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President Donald Trump fired off a scathing Truth Social post late on Thursday night as he is once again targeted for impeachment, floating the idea that Republicans should target Democrats for expulsion from Congress.

‘The Democrats are really out of control. They have lost everything, especially their minds! These Radical Left Lunatics are into the ‘Impeachment thing’ again. They have already got two ‘No Name,’ little respected Congressmen, total Whackjobs both, throwing the ‘Impeachment’ of DONALD J. TRUMP around, for about the 20th time, even though they have no idea for what I would be Impeached,’ Trump declared in the post.

Earlier this week Rep. Shri Thanedar, D-Mich., announced articles of impeachment against Trump. 

Rep. Al Green, D-Texas, applauded the impeachment effort and declared during a speech, ‘Add my name to your articles of impeachment.’ 

Green also plans to introduce his own articles of impeachment targeting Trump.

‘These Congressmen stated that, they didn’t know why they would Impeach me but, ‘We just want to do it.’ The Republicans should start to think about expelling them from Congress for all of the crimes that they have committed, especially around Election time(s),’ Trump asserted in his post. 

Thanedar’s resolution includes seven articles of impeachment: ‘OBSTRUCTION OF JUSTICE, VIOLATION OF DUE PROCESS, AND A BREACH OF THE DUTY TO FAITHFULLY EXECUTE LAWS,’ ‘USURPATION OF THE APPROPRIATIONS POWER,’ ‘ABUSE OF TRADE POWERS AND INTERNATIONAL AGGRESSION,’ ‘VIOLATION OF FIRST AMENDMENT RIGHTS,’ ‘CREATION OF UNLAWFUL OFFICE,’ ‘BRIBERY AND CORRUPTION,’ and ‘TYRANNY.’

The House impeached Trump twice during his first term in office, but in each case the Senate vote failed to reach the threshold necessary for conviction.

The second impeachment occurred at the tail end of Trump’s term in the wake of the Jan. 6, 2021 Capitol riot, and the Senate vote resulting in acquittal occurred after Trump had already departed from office.

‘These are very dishonest people that won’t let our Country heal! Why do we allow them to continuously use Impeachment as a weapon against the President of the United States who, by all accounts, is working hard to SAVE OUR COUNTRY. It’s the same playbook that they used in my First Term, and Republicans are not going to allow them to get away with it again. These are total LOWLIFES, who hate our Country, and everything it stands for,’ Trump declared in his late-night post on Thursday.

‘Perhaps we should start playing this game on them, and expel Democrats for the many crimes that they have committed — And these are REAL crimes,’ he declared. ‘Remember, ‘Shifty’ Adam Schiff demanded a Pardon, and they had to use the power of the Auto Pen, and a Full Pardon, for him and the Unselect Committee of Political Thugs, to save them from Expulsion, and probably worse!’

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FIRST ON FOX : Fox News Digital has learned that the U.S. could withhold funding for the war against Islamist terror in Somalia until Europe, the African Union (A.U.) and the United Nations (U.N.) pay more of their ‘fair’ share toward the cost of striking out and keeping the peace in the conflict-torn country. 

These plans to ‘prohibit’ the use of U.S. funds are key details, shown first to Fox News Digital, of a new bill to be introduced by three prominent Republican senators.

In line with President Donald Trump’s administration’s widespread moves to tighten fiscal controls in the U.S. and overseas, Sens. Jim Risch, R-Idaho., Chairman of the Senate Foreign Relations Committee Sen. Ted Cruz, R-Texas, and Sen. Rick Scott, R-Fla., are to introduce ‘the African Union Support and Stabilization Mission in Somalia (AUSSOM) Funding Restriction Act of 2025.’ 

This is ‘to safeguard U.S. taxpayer funds and hold the U.N. and A.U. accountable in African peace operations,’ Risch told Fox News Digital.

The bill also seeks to mandate the U.S. to oppose any U.N. Security Council action which enables such funding.  

The East African country of Somalia has been wracked for decades by attacks and insurgency from Islamist terrorists, both from ISIS and the al Qaeda-linked al-Shabab. In just the past five weeks, U.S. Africa Command reported that it has carried out four airstrikes; three against ISIS terrorists and one against al-Shabaab. At least one of these strikes, the command stated, was against multiple targets.

Chairman Risch told Fox News Digital, ‘The Trump Administration has taken decisive action to counterterrorist groups across Africa, and I’m very supportive.’

However, officials from the European Union, according to Risch, plan to skew payments for the AUSSOM peacekeeping and stablization operation more toward the U.S.; in other words, make the U.S. pay more than it should, he said.

‘At the U.N., our European partners are looking to skirt their financial commitments to AUSSOM in Somalia by switching to a new imbalanced funding mechanism that pushes the burden on Americans,’ he stated.

‘We can’t let that stand,’ Risch continued. ‘This bill will prohibit U.S. contributions to AUSSOM under this new funding scheme, until the A.U. and the U.N. can prove that they are using the funds they have responsibly, and prevent Americans from being locked into perpetually funding a broken system.’

Risch said, ‘President Trump has ushered in a new era of American foreign policy where American taxpayer dollars will be used only to secure a safe and prosperous America. For far too long, our allies have taken America for a ride, and profited off of America paying the lion’s share for global security. Europe must continue to shoulder this burden.’  

The other two senators sponsoring the bill, Cruz and Scott, also serve on the Senate Foreign Relations Committee. 

Scott told Fox News Digital, ‘The United States will not allow our tax dollars to be exploited by the U.N. while our partners refuse to pay their fair share, much less for a mission that fails to spend these dollars responsibly or transparently. I am proud to join my colleagues on the AUSSOM Funding Restriction Act to ensure Americans’ interests are put first, and their tax dollars spent wisely.’

The specific aims of the bill that have been shown to Fox News Digital are:

  • Protect U.S. Taxpayer Funds: Prohibit U.S. financial contributions to AUSSOM under UNSCR 2719 and mandate U.S. opposition to any U.N. Security Council action enabling such funding.
  • Ensure Rigorous Oversight: Require the Secretary of State to conduct annual, independent assessments of the A.U.’s compliance with UNSCR 2719 criteria for all A.U.-led peace operations.
  • Enhance Transparency and Accountability: Mandate comprehensive reporting to Congress on the assessment findings, AUSSOM’s performance and funding, and any U.S. contributions under UNSCR 2719.
  • Strengthen Congressional Consultation: Expand existing State Department briefings to include specific updates on A.U. peace operations funded under UNSCR 2719.
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China is ‘evaluating’ an offer from the U.S. to hold talks on tariffs, according to a Friday statement from the Chinese Commerce Ministry. This shift in tone could leave the door open for the world’s two largest economies to deescalate the trade war that has left global markets in turmoil.

‘The U.S. has recently taken the initiative on many occasions to convey information to China through relevant parties, saying it hopes to talk with China,’ the ministry said in a statement, according to a Reuters translation. The ministry also said that Beijing was ‘evaluating this.’

However, while Beijing appears to be open to negotiations, the Chinese Commerce Ministry warned that it would not be forced into making a bad deal. According to the Reuters translation, the ministry said that ‘attempting to use talks as a pretext to engage in coercion and extortion would not work.’

On Thursday, Treasury Secretary Scott Bessent told Fox Business’ Maria Bartiromo on ‘Mornings with Maria’ that he believed Beijing was looking to reach an agreement with the U.S.

‘I am confident that the Chinese will want to reach a deal. And as I said, this is going to be a multi-step process. First, we need to de-escalate. And then the over time we will start focusing on a larger trade deal,’ Bessent said.

President Donald Trump announced sweeping global tariffs last month. He slapped a 145% tariff on Chinese imports. Meanwhile, Beijing put a 125% tariff on U.S. imports. However, the country recently waived the tariff on a host of American-made products. 

There were already exemptions for some pharmaceuticals, microchips and aircraft engines, but China added an exemption for ethane imports, according to Reuters.

Beijing’s change in messaging regarding the tariffs comes in stark contrast to its April 23 comments during a U.N. Security Council Arria-formula meeting on ‘The Impact of Unilateralism and Bullying Practices on International Relations.’ At that meeting, China accused the U.S. of using tariffs to bully the rest of the world.

‘Under the guise of reciprocity and fairness, the U.S. is playing a zero-sum game, which is essentially about subverting the existing international economic and trade order by means of tariffs, putting U.S. interests above the common good of the international community and advancing hegemonic ambitions of the U.S. at the cost of the legitimate interest of all countries,’ Chinese U.N. Ambassador Fu Cong said in his opening remarks.

A State Department spokesperson told Fox News Digital that the meeting was ‘a waste of U.N. Security Council members’ time.’ The spokesperson also slammed the meeting as an example of China’s manipulation of ‘the multilateral system to support its economic, political, and security interests.’

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McDonald’s reported its worst quarterly sales for the United States since the height of the pandemic in 2020, the latest restaurant chain to be affected by America’s turbulent economic environment.

The burger giant reported U.S. same-store sales fell 3.6%, the largest three-month drop since Q2 2020, when they plunged 8.7%. Forecasts had been for a decline of just 1.7%.

‘Consumers today are grappling with uncertainty,’ McDonald’s Chairman and CEO Chris Kempczinski said in a statement, as the chain cited lower guest counts.

In a follow-up call with investors, McDonald’s executives said that traffic among middle-income diners fell by ‘nearly double digits’ alongside an ongoing drop-off among low-income ones. As an example, they said more people appear to be skipping breakfast entirely to cut back on spending, or eating breakfast at home.

‘People are just visiting less,’ they said.

High-income traffic, meanwhile, remained stable, they said.

That reflects the economy writ large: While less-well-off consumers rein in transactions to focus on essentials, wealthy consumers continue to spend freely.

McDonald’s is the latest restaurant chain to report weak financial results amid signs that consumers are pulling back on discretionary spending. Chipotle, Domino’s, Pizza Hut, Shake Shack and Starbucks all saw slowing or declining sales in their quarter, with many citing particular weakness among lower-income consumers.

McDonald’s also reported revenues that missed forecasts for the third time in four quarters.

The more volatile economic environment that’s been accelerated by President Donald Trump’s tariffs policies is also being felt abroad.

On the call, company officials said that while the McDonald’s brand hadn’t been affected by worsening perceptions of the U.S. by overseas consumers, its internal surveys had picked up a notable uptick in anti-American sentiment, particularly among diners in northern Europe and Canada.

‘We have seen … an increase in people in various markets saying they’re going to be cutting back on purchases of American brands,’ they said.

It nevertheless maintained its full-year financial outlook, including plans to open 2,200 locations, which it said should help boost sales growth by slightly more than 2%. It said a promotional tie-in with the ‘Minecraft Movie’ had been a hit, and that its refreshed value offerings continued to position it strongly compared with competitors.

Still, officials said on the call that they remained “cautious about consumer sentiment.”

Shares fell 1.6% in early trading.

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