Iran Firmly Rejects "Zero Enrichment," U.S. Escalates Tariff Threats

Summary:

Iran will never accept "Zero Enriched Uranium"; Trump signs an executive order, allowing tariffs on countries trading with Iran......

[Quick Facts]

1. Iranian Foreign Minister: Iran will never accept "Zero Enriched Uranium".

2. Japan's House of Representatives Election: The ruling coalition is expected to win majority.

3. White House: The U.S. and India reached a framework for an interim Trade Agreement.

4. UK Prime Minister Starmer's position is unstable as the Chief of Staff resigns, and the Cabinet's pressure mounts.

5. Trump signs an executive order, allowing tariffs on countries trading with Iran.

6. U.S. Consumer Confidence edges up with persisting concerns of inflation and employment.

7. Daly: The U.S. job market is precarious, and the Fed should consider rate cuts.

[News Details]

Iranian Foreign Minister: Iran will never accept "Zero Enriched Uranium"

On February 8th, local time, Iranian Foreign Minister Abbas Araghchi delivered a speech outlining the recent negotiations between Iran and the United States that concluded in Muscat, the capital of Oman. Araghchi stated that the topic of the Iran-U.S. talks in Muscat was nuclear issues, and the results are currently under evaluation. Both sides generally agreed to continue negotiations, but specific decisions will be made by their respective leaders. The timing and location of the next round of talks will be determined in consultation with the Omani foreign minister. From Iran's perspective, the format of the talks will remain indirect.

Araghchi explained that this round of negotiations was conducted indirectly, with no direct meetings. All previous rounds were also held indirectly, with the two sides only meeting when their delegations entered or exited. The key to reaching an agreement lies in moving toward mutual respect and understanding based on shared interests. Araghchi added that if the conclusion shows the other side is serious, the negotiations will continue. He noted that the continued existence of some sanctions and certain military actions has raised doubts about the other side's seriousness and readiness for genuine negotiations. In response to a question, Araghchi said "zero enrichment" is completely unacceptable to Iran. Uranium enrichment is a core issue in the negotiations. Iran does not oppose confidence-building measures, but it must recognize Iran's right to enrich uranium.

Japan's House of Representatives Election: The ruling coalition is expected to win majority

Voting has ended in Japan's 51st House of Representatives election. Japanese media reported that exit polls indicate the ruling coalition is expected to win more than two-thirds of the seats in the House of Representatives. The Liberal Democratic Party (LDP) alone is projected to secure 274 to 328 seats, far exceeding the 233 needed for a majority. Together with its coalition partner Nippon Ishin no Kai (Japan Innovation Party), the coalition is expected to win 302 to 366 seats.

A total of 1,284 candidates competed for 465 seats in the House of Representatives. Of these, 289 are single-member constituency seats, and 176 are proportional representation seats. In single-member constituencies, voters directly vote for candidates, with the candidate receiving the most votes winning. In proportional representation districts, voters vote for political parties, and seats are allocated to parties according to their share of the vote. The House of Representatives was officially dissolved on January 23rd, and the gap between dissolution and voting was just 16 days, the shortest interval since World War II ended.

White House: The U.S. and India reached a framework for an interim Trade Agreement

The United States of America (United States) and India are pleased to announce that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement). Today's framework reaffirms the countries' commitment to the broader U.S.-India Bilateral Trade Agreement (BTA) negotiations, launched by President Donald J. Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access commitments and support more resilient supply chains. Under the interim agreement, India will eliminate or reduce tariffs on all U.S. industrial products, as well as a range of U.S. food and agricultural products. The U.S. will impose a so-called "reciprocal tariff" of 18% on goods originating from India, including textiles and apparel, leather and footwear, plastics and rubber, organic chemicals, home decor, handicrafts, and certain machinery.

UK Prime Minister Starmer's position is unstable as the Chief of Staff resigns, and the Cabinet's pressure mounts

According to foreign media reports, Morgan McSweeney, Chief of Staff to UK Prime Minister Keir Starmer, resigned on Sunday due to ongoing controversy over the nomination of Peter Mandelson, who was involved in the Epstein scandal, for the position of ambassador to Washington. McSweeney said he takes "full responsibility" for the nomination suggestion. Insiders revealed that Downing Street expects some cabinet ministers may privately call for Starmer to step down, even threatening collective resignation. An aide to one cabinet minister assessed Starmer's chances of surviving the week at only 50%.

Currently, Health Secretary Wes Streeting and former Deputy Prime Minister Angela Rayner are seen as strong contenders to replace Starmer. Prediction platform Polymarket data shows the probability of Starmer stepping down as prime minister before the end of 2024 has risen to 68%.

Trump signs an executive order, allowing tariffs on countries trading with Iran

Reports show that an executive order signed by Trump states that any country that directly or indirectly purchases, imports, or otherwise acquires Iranian goods or services may face tariffs on its goods entering the U.S. Trump did not specify the exact tariff rate but cited the previously threatened 25% tariff on Iran's trading partners as an example. This move could disrupt economic and trade relations between the U.S. and countries such as India, Turkey, and China.

Iranian Foreign Minister Araghchi said during his participation in the 17th Al Jazeera Forum in Qatar on February 7th that Iran will not abandon uranium enrichment in talks with the U.S., nor will it negotiate its missile program. Araghchi also noted that the possibility of war always exists, and Iran is prepared for it. He added that the venue for the second round of Iran-U.S. talks may change.

U.S. Consumer Confidence edges up with persisting concerns of inflation and employment

A survey shows that despite ongoing concerns about the labor market and rising living costs, U.S. consumer confidence improved slightly in early February. The University of Michigan Consumer Survey showed the consumer confidence index rose to 57.3 this month, up from the final January reading of 56.4. Joanne Hsu, director of the survey, said that while the current index is the highest since August 2025, recent gains have been limited, and overall confidence remains very low by historical standards. High prices eroding personal finances and fears of rising unemployment remain widespread. Consumers' expectations for inflation over the next year fell from 4.0% in January to 3.5% this month, while their five-year inflation expectations rose from 3.3% last month to 3.4%.

Daly: The U.S. job market is precarious, and the Fed should consider rate cuts

San Francisco Federal Reserve Bank President Mary Daly said on Friday she thinks the U.S. labor market is in a "precarious" position, as the Fed should have considered cutting interest rates last week but ultimately kept rates unchanged. "Given what ⁠I'm seeing in the economy, I lean towards, you know, additional cuts. Whether that's one or two is hard to say." She explained. While businesses are generally cautiously optimistic, household confidence is weak because companies that have so far been reluctant to lay off workers may quickly change strategies.

The U.S. has been in an environment of relatively low-hire, low-fire for some time, and this situation may persist. Given that inflation remains above the FOMC's 2% target, this precarious situation is understandable. Based on current economic conditions, she favors further rate cuts, though it is difficult to say whether there will be one or two cuts.

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