logo
Southeast Asia Leaders Make a Veiled Jab at US Tariff Actions

Southeast Asia Leaders Make a Veiled Jab at US Tariff Actions

Bloomberg27-05-2025

Southeast Asian leaders called out unilateral trade actions in a joint statement late Tuesday, without specifically mentioning the US — the region's largest export customer.
'We note the continued rise in unilateral actions relating to tariffs and other trade and investment restrictions and the growing risk of global fragmentation,' the leaders of the Assocation of Southeast Asian Nations said in a statement. Asean leaders had been meeting in Kuala Lumpur, Malaysia.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Even after Trump-Xi call, China's rare earth controls aren't going away
Even after Trump-Xi call, China's rare earth controls aren't going away

Washington Post

time2 hours ago

  • Washington Post

Even after Trump-Xi call, China's rare earth controls aren't going away

China is unlikely to loosen its grip over the export of rare earths needed to manufacture electric vehicles, fighter jets and microchips — despite a friendly call between President Donald Trump and Chinese leader Xi Jinping on Thursday. The two leaders, speaking for the first time since Trump became president, agreed to another round of high-level trade talks to follow up on the truce reached in Geneva last month, and exchanged invitations for state visits.

Xi's Message to Trump: Rein in the Hawks Trying to Derail the Truce
Xi's Message to Trump: Rein in the Hawks Trying to Derail the Truce

New York Times

time2 hours ago

  • New York Times

Xi's Message to Trump: Rein in the Hawks Trying to Derail the Truce

During his phone call with President Trump, Xi Jinping leaned on a maritime analogy to try to salvage the fragile trade truce that seemed to be fracturing from a series of escalating punitive economic measures. The Chinese leader compared the relationship between the United States and China to a large ship, with the two men serving as powerful captains holding the rudder firmly to maintain the proper course. The analogy also came with a warning. Do not let others steer the ship off course and jeopardize the relationship. For weeks, the White House seemed to openly lobby for a direct conversation between the two leaders — a point underscored by China stating that Mr. Xi had agreed to the call on Thursday at Mr. Trump's behest. With the United States ratcheting up the pressure on Beijing with technology and other restrictions, China may have acquiesced partly out of concern in Beijing that the China hawks in Mr. Trump's administration were succeeding in undermining the truce, analysts said. In a readout from the Chinese government, Mr. Xi emphasized on the 90-minute call that the two leaders needed to 'steer clear of various disturbances or even sabotage.' 'China is quite concerned about this,' said Wu Xinbo, the dean of the Institute of International Studies at Fudan University in Shanghai. 'There has to be communication at the leadership level to stop the momentum of the rapid deterioration of the U.S.-China relationship.' The call between Mr. Trump and Mr. Xi came at an especially precarious moment. Less than one month after the two countries agreed to roll back punishing tariffs for 90 days and negotiate a trade deal, the truce seemed to be crumbling. Want all of The Times? Subscribe.

Bloomberg Daybreak: Trump-Musk Feud
Bloomberg Daybreak: Trump-Musk Feud

Bloomberg

time3 hours ago

  • Bloomberg

Bloomberg Daybreak: Trump-Musk Feud

On today's podcast: 1) Elon Musk and President Donald Trump engage in a public dispute the traded personal barbs and weighed down Tesla stock and Musk's personal wealth. The dispute began over differences on the GOP tax legislation, with Musk opposing the bill and Trump accusing Musk of being motivated by self-interest. After Tesla shares tanked 14% and Musk's personal wealth dropped by $34 billion, Musk signaled a willingness to cool tensions with Trump, responding to a user's advice to "cool off and take a step back for a couple days" with "Good advice." 2) Tensions appear to be easing between the US and China. President Trump and Chinese President Xi Jinping agreed to further trade talks to resolve disputes over tariffs and rare earth minerals. The two leaders had a 90-minute call, during which Trump acknowledged that the trade relationship with China had gotten "a little off track" but said they are now "in very good shape" with a trade deal. 3) Investors brace for a critical May Jobs Report. Traders are awaiting the key monthly nonfarm payrolls report, which may reinforce expectations that the Federal Reserve will cut interest rates at least twice this year.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store