Trump mourns Hulk Hogan as 'great friend,' 'MAGA all the way'
"He gave an absolutely electric speech at the Republican National Convention, that was one of the highlights of the entire week. He entertained fans from all over the World, and the cultural impact he had was massive," Trump said on social media.
In the speech, Hogan ripped his shirt off to reveal a Trump-Vance tank top. — AFP
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New Straits Times
12 minutes ago
- New Straits Times
Papering over strains, US and allies prep for Taiwan war
AS they kicked off the largest joint military exercises in Australia's history with a press conference in Sydney earlier this month, US commanders gave a simple explanation for why 35,000 troops from 19 nations were simulating high-tech warfare. In the words of US Lieutenant General Joel Vowell, deputy commander of the US Army in the Pacific, exercise TALISMAN SABRE was intended to build the ability of the US and its allies to respond to any crisis in the Pacific – and in doing so, act as a "deterrent mechanism" to prevent a future conflict. Already, 2025 has witnessed a series of the largest and most sophisticated military drills held in the Pacific since the end of World War Two, a sign of growing nervousness over a rising China. But along with other US-led activity around the region, the drills also have a much more focused goal. They are to persuade Beijing that if it goes ahead with what are now believed to be increasingly advanced plans for an invasion of Taiwan, it risks finding itself at war not just with the US but a powerful and well-armed de facto alliance. Behind the scenes, however, sits clear diplomatic awkwardness, caused by Pacific frustrations over US President Donald Trump's tariff salvoes and trade war as well as strategic uncertainty over the US and its future global role. Unlike with its Nato allies in Europe or its main Pacific partners such as Australia, the US has no binding treaty obligations to defend Taiwan if it is attacked. Nor do Australia, the Philippines and other major players in the region. This month, the Financial Times reported that US officials were exerting mounting pressure on Australia and Japan to agree to intervene militarily if China moved against Taiwan. Under terms of the Taiwan Relations Act of 1979, successive US administrations have been committed to ensuring plans and military resources are in place to protect the island against whatever Chinese menace it faces. But that does not extend to a commitment to use that force in the event of an attack. Indeed, there is a clear division of views within the Trump administration and its supporters on the wisdom of such action, as well as over how much support Washington should offer to the government in Taipei. That means America's regional allies find themselves taking a similar position. The result is a situation rather different from what the Trump administration expected to find when it entered office in January complaining loudly about a European failure to invest properly in defending their own continent and pledging to switch America's focus to confronting China. But while European Nato nations have now committed to significant spending increases – 3.5 per cent of gross domestic product on defence with an additional 1.5 per cent on defence related infrastructure, America's Pacific allies have held back. Under hefty US pressure, Taiwan itself is working to get its defence budget to 2.5 per cent of GDP, motivated by US warnings that it might be abandoned if it does not step up its efforts. Japan spent only 1.8 per cent of GDP on defence in 2025, rising to 2 per cent by 2027 – and its prime minister Shigeru Ishida was widely suspected of skipping the Nato summit in The Hague last month to avoid pressure to do more. Japan, New Zealand, Australia and South Korea are not Nato members, but often attend large alliance meetings to discuss global and Pacific security matters. "It's hard to believe, a little bit ..., but thanks to President Trump, Asian allies should look to countries in Europe as a new-found example," US Defence Secretary Pete Hegseth said at the Shangri-La Security Dialogue in Singapore in May. Hegseth also warned that the Chinese threat to Taiwan was "imminent" and that Beijing viewed its capture as a key step on the road to regional domination. Since Trump took office in January, however, America's Asian allies have found themselves profoundly uncertain by the administration's cool treatment of Ukraine in the country's battle against Russian invasion. They are suddenly worried that they might similarly find themselves deprived of US arms and forced towards a deal by a future US government. Trump's tariffs and trade war rhetoric have only made such matters worse.
The Sun
12 minutes ago
- The Sun
Bordeaux winemakers face uncertainty as US tariffs loom
BORDEAUX: French winemakers in the famed Bordeaux region are bracing for the financial impact of US tariffs, with industry leaders calling the uncertainty 'the stuff of nightmares.' The US remains the top export market for Bordeaux wines, accounting for €400 million in annual sales—20% of the region's total exports. Sunday's US-EU trade deal failed to clarify tariff rates for European alcohol exports. While US President Donald Trump announced a 15% across-the-board tariff, EU chief Ursula von der Leyen hinted at possible exemptions, stating that 'zero-for-zero' agreements for alcohol could still be negotiated. Philippe Tapie, chairman of Bordeaux Negoce, expressed frustration over the unpredictability. 'One day, it is white, the next it is black—the US administration can change its mind from one day to the next,' he said. The tariffs compound existing struggles, including declining consumption and overproduction, which have already pushed a third of Bordeaux's 5,000 winegrowers into financial distress. Twins Bordeaux, a major merchant, reported a 50% drop in US-bound sales this year. Co-director Sebastien Moses revealed they had stockpiled inventory preemptively but warned this was not a sustainable solution. Some high-end wines were even airlifted to bypass delays, though at triple the cost of sea freight. Jacques Bouey, CEO of Bouey wines, noted his firm had diversified exports to mitigate risks. 'Commercial strategies can no longer rely on one or two markets,' he said. With Trump's shifting deadlines—from 10% to 30%—Tapie warned, 'At 30%, no. End of story.' The industry now faces a critical wait for final tariff terms, with August 1 looming as the next decisive date. - AFP
The Sun
12 minutes ago
- The Sun
Markets rise as EU-US trade deal boosts euro and global stocks
HONG KONG: Most stock markets climbed higher on Monday, with the euro strengthening after the European Union and United States finalised a landmark trade agreement aimed at preventing a damaging trade war. The deal, announced by former US President Donald Trump and European Commission President Ursula von der Leyen, has injected optimism into global markets. The agreement includes a baseline 15 percent tariff on EU exports to the US, covering key sectors such as automobiles, pharmaceuticals, and semiconductors. Trump described the deal as 'probably the biggest ever reached in any capacity,' while von der Leyen emphasised its role in providing stability and predictability for businesses on both sides of the Atlantic. Brussels also committed to purchasing $750 billion worth of US energy and making an additional $600 billion in investments. The news pushed the euro to $1.1779, up from $1.1749 at Friday's close. Asian markets mostly advanced, with Hong Kong leading gains at around one percent. Shanghai, Sydney, Seoul, Wellington, Taipei, and Jakarta also rose, while Tokyo dipped for a second day following last week's rally. European and US futures pointed to further gains. Analysts noted that the trade developments, including progress in US-China negotiations, have eased market concerns. 'The news flow from both the extension with China and the agreement with the EU is clearly market-friendly,' said Chris Weston of Pepperstone. Investors are now focused on upcoming trade talks between US and Chinese officials in Stockholm, as well as key earnings reports from tech giants like Amazon, Apple, and Microsoft. The Federal Reserve and Bank of Japan are expected to maintain steady interest rates, though market watchers will scrutinise their outlooks amid shifting trade dynamics. - AFP
