U.S. quits 66 int'l organizations under Trump's order

U.S. President Donald Trump on Wednesday signed a memorandum directing his country's withdrawal from 66 international organizations, which "no longer serve American interests," the White House announced on X.

Starting with Trump's "America First" slogan, the statement said they comprised of 31 UN entities and 35 non-UN organizations.

According to the list published on the White House website, most of the targets are UN-related agencies, commissions and advisory panels focusing on climate change, global governance, labor and other issues that the Trump administration has categorized as promoting diversity and "woke" agenda.

The United States will withdraw from UN organizations, including the UN Economic and Social Council's panels for Africa, Latin America and the Caribbean, Asia and the Pacific, and Western Asia, as well as the International Law Commission, the International Trade Center, and UN Trade and Development.

Among the non-UN organizations are the 24/7 Carbon-Free Energy Compact, the Global Counterterrorism Forum, the Global Forum on Migration and Development, the Intergovernmental Panel on Climate Change, the International Renewable Energy Agency; as well as the Regional Cooperation Agreement on Combatting Piracy and Armed Robbery against Ships in Asia.

Jan. 20 will mark the first anniversary of Trump's second presidential term. Since returning to the White House nearly one year ago, Trump has announced plans to quit the World Health Organization, the Paris climate agreement and the UN cultural agency UNESCO. He also cut U.S. funding for the UN, stopped U.S. engagement with the UN Human Rights Council, and extended a suspension of funding for the Palestinian relief agency UNRWA.

Earlier on Wednesday, Trump said in a post on his Truth Social that he is doubting whether NATO would come to the U.S. defense when it is needed, two days after Danish Prime Minister Mette Frederiksen warned that a U.S. military attack on Greenland could effectively end the military alliance.

U.S. quits 66 int'l organizations under Trump's order

The U.S. consumer price index (CPI) rose 4.2 percent year on year in May, marking its highest level since May 2023, as energy prices remained high, according to data released by the U.S. Bureau of Labor Statistics on Wednesday.

Notably, the energy index for May increased 3.9 percent month on month, accounting for over 60 percent of headline inflation.

Gasoline and fuel oil prices increased 40.5 percent and 58.9 percent year on year, respectively, in May.

The national average price of gasoline reached 4.555 U.S. dollars per gallon on May 20, a 50 percent rise since the Iran conflict started in February, according to data released by the American Automobile Association. The price later eased to 4.151 dollars per gallon on Wednesday.

The core CPI, which excludes volatile food and energy prices, increased 2.9 percent year on year in May.

Statistics show that U.S. headline CPI for May rose 0.5 percent month on month, down from 0.6 percent in April, while core CPI increased 0.2 percent, compared with a 0.4 percent gain in April and below the market consensus forecast of 0.3 percent.

The report arrives at a critical juncture for markets and Federal Reserve policymakers. While the rate-setting Federal Open Market Committee is widely expected to hold interest rates steady at its June 17 meeting, policymakers acknowledged that the inflation surge caused by the Iran conflict will likely delay any rate reduction. The data are likely to reinforce this stance.

Oil prices rose while U.S. stocks traded lower in the morning session on Wednesday after U.S. President Donald Trump posted on Truth Social that Iran has "taken too long to negotiate a deal" and will "have to pay the price."

U.S. May CPI rises to highest level since May 2023