Ted O'Brien may not back US-style primaries for NSW Liberal Party
The Liberal Party is considering adopting a plan which will allow members of the public to decide who should be preselected.
Mr O'Brien says he wants to foster a 'healthy debate' within the party to decide on an outcome.
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9 News
3 hours ago
- 9 News
Australia's nervous Trump tariff wait almost over
Your web browser is no longer supported. To improve your experience update it here The so-called "reciprocal" tariffs were paused for 90 days, and the White House has recently announced deals with a slew of partners, including the UK , China , Vietnam, Indonesia, the Philippines, Japan and, as of this morning, the European Union. However, an Australian deal is yet to be announced ahead of the pause expiring on Friday. Donald Trump's tariffs have caused uncertainty in financial markets. (Getty) Australia is currently subject to a baseline 10 per cent tariff, but what that figure will be as of Friday is unclear. Trump said last week he would be sending out letters to roughly 200 countries this week unilaterally setting a range of tariff rates. "It's basically going to say, you're going to pay 10 per cent, you're going to pay 15 per cent, you're going to pay maybe less, I don't know," Trump told reporters. Prime Minister Anthony Albanese criticised Trump's tariffs when they were first imposed. (Dominic Lorrimer) Trump reacted positively to the news, saying on his Truth Social account: "Now, we are going to sell so much to Australia because this is undeniable and irrefutable Proof that US Beef is the Safest and Best in the entire World." Albanese and China's President Xi Jinping in Beijing earlir this month. (Huang Jingwen/Xinhua via A) Meanwhile, talks between the United States and China are still ongoing, with officials from both nations set to meet this week. Trump slapped a 145 per cent tariff on imports from China in April, prompting Beijing to respond with a 125 per cent duty on the United States. In the aftermath of Trump's tariffs, China called for greater trade cooperation with Australia, which was reiterated when Prime Minister Albanese undertook a state visit to China earlier this month. "Protectionist measures are on the rise in the world, and China and Australia are committed to advancing trade and investment liberalisation and facilitation," Chinese Premier Li Qiang said after meeting with Albanese. CONTACT US
The Advertiser
5 hours ago
- The Advertiser
US, China to launch new talks on tariff truce extension
Top US and Chinese economic officials will resume talks in Stockholm to try to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from US duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks come hot on the heels of Trump's biggest trade deal yet with the European Union on Sunday for a 15 per cent tariff on most EU goods exports to the US, including autos. The bloc will also buy $US750 billion worth of American energy and make $US600 billion worth of US investments in coming years. No similar breakthrough is expected in the US-China talks but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. A US Treasury spokesperson declined comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or other steps that could escalate the trade war for another 90 days. Trump's administration is poised to impose new sectoral tariffs that will impact China within weeks, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters before European Commission President Ursula von der Leyen struck their tariff deal. Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include US complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that US national security export controls on tech goods seek to stunt Chinese growth. "Geneva and London were really just about trying to get the relationship back on track so that they could, at some point, actually negotiate about the issues which animate the disagreement between the countries in the first place," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. "I'd be surprised if there is an early harvest on some of these things but an extension of the ceasefire for another 90 days seems to be the most likely outcome." US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng will lead the delegations in Stockholm. Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption - a decades-long goal for US policymakers. In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon on a landmark trip to China, and a new flare-up of tariffs and export controls would likely derail planning. Top US and Chinese economic officials will resume talks in Stockholm to try to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from US duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks come hot on the heels of Trump's biggest trade deal yet with the European Union on Sunday for a 15 per cent tariff on most EU goods exports to the US, including autos. The bloc will also buy $US750 billion worth of American energy and make $US600 billion worth of US investments in coming years. No similar breakthrough is expected in the US-China talks but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. A US Treasury spokesperson declined comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or other steps that could escalate the trade war for another 90 days. Trump's administration is poised to impose new sectoral tariffs that will impact China within weeks, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters before European Commission President Ursula von der Leyen struck their tariff deal. Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include US complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that US national security export controls on tech goods seek to stunt Chinese growth. "Geneva and London were really just about trying to get the relationship back on track so that they could, at some point, actually negotiate about the issues which animate the disagreement between the countries in the first place," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. "I'd be surprised if there is an early harvest on some of these things but an extension of the ceasefire for another 90 days seems to be the most likely outcome." US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng will lead the delegations in Stockholm. Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption - a decades-long goal for US policymakers. In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon on a landmark trip to China, and a new flare-up of tariffs and export controls would likely derail planning. Top US and Chinese economic officials will resume talks in Stockholm to try to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from US duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks come hot on the heels of Trump's biggest trade deal yet with the European Union on Sunday for a 15 per cent tariff on most EU goods exports to the US, including autos. The bloc will also buy $US750 billion worth of American energy and make $US600 billion worth of US investments in coming years. No similar breakthrough is expected in the US-China talks but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. A US Treasury spokesperson declined comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or other steps that could escalate the trade war for another 90 days. Trump's administration is poised to impose new sectoral tariffs that will impact China within weeks, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters before European Commission President Ursula von der Leyen struck their tariff deal. Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include US complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that US national security export controls on tech goods seek to stunt Chinese growth. "Geneva and London were really just about trying to get the relationship back on track so that they could, at some point, actually negotiate about the issues which animate the disagreement between the countries in the first place," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. "I'd be surprised if there is an early harvest on some of these things but an extension of the ceasefire for another 90 days seems to be the most likely outcome." US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng will lead the delegations in Stockholm. Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption - a decades-long goal for US policymakers. In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon on a landmark trip to China, and a new flare-up of tariffs and export controls would likely derail planning. Top US and Chinese economic officials will resume talks in Stockholm to try to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from US duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks come hot on the heels of Trump's biggest trade deal yet with the European Union on Sunday for a 15 per cent tariff on most EU goods exports to the US, including autos. The bloc will also buy $US750 billion worth of American energy and make $US600 billion worth of US investments in coming years. No similar breakthrough is expected in the US-China talks but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. A US Treasury spokesperson declined comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or other steps that could escalate the trade war for another 90 days. Trump's administration is poised to impose new sectoral tariffs that will impact China within weeks, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters before European Commission President Ursula von der Leyen struck their tariff deal. Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include US complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that US national security export controls on tech goods seek to stunt Chinese growth. "Geneva and London were really just about trying to get the relationship back on track so that they could, at some point, actually negotiate about the issues which animate the disagreement between the countries in the first place," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. "I'd be surprised if there is an early harvest on some of these things but an extension of the ceasefire for another 90 days seems to be the most likely outcome." US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng will lead the delegations in Stockholm. Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption - a decades-long goal for US policymakers. In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon on a landmark trip to China, and a new flare-up of tariffs and export controls would likely derail planning.
News.com.au
6 hours ago
- News.com.au
Lunch Wrap: ASX jumps higher, but Boss Energy smoked and coal gets legal smack
Trump eases off trade war with EU WA flexes as national economic top dog again Coal cops a legal blow as ASX edges higher At Monday lunchtime in the east, the ASX was edging higher by 0.25%. And fair enough, because the spat that nearly boiled over between the US and Europe has been defused, at least for now. Donald Trump and EU boss Ursula von der Leyen have announced a fresh trade pact, but still slaps 15% tariffs on most European exports. But hey, at least it's not 50%, which is where Trump was originally pointing the bazooka. Markets loved the clarity, with Wall Street futures rising and the S&P 500 chalking up yet another record last Friday. Back to the ASX, and it was the steady-Eddie sectors doing the heavy lifting – telcos, healthcare, banks. Energy, meanwhile, was one of the market's laggards after a court overturned approval for a coal project in the Hunter Valley. MACH Energy's big coal expansion at Mount Pleasant has hit a wall after NSW's court of appeal overturned its approval. It's a major legal shift that could put the brakes on future coal and gas projects across the state. The ruling rattled coal stocks, with Whitehaven Coal (ASX:WHC) down 3.5% and Yancoal Australia (ASX:YAL) off 1.5%. In other large cap news, WiseTech Global (ASX:WTC) has officially named Zubin Appoo as permanent CEO. He's no stranger to the company, having worked alongside founder Richard White back in the early days and returning now after stints at InLoop, Flexischools and HICAPS. WTC's shares were down 0.4%. And, The Lottery Corporation (ASX:TLC) has named Wayne Pickup as its next CEO, taking over from Sue van der Merwe in November. Shares edged down 0.5%. ASX SMALL CAP WINNERS Here are the best performing ASX small cap stocks for July 28 : Security Description Last % Volume MktCap AUK Aumake Limited 0.004 100% 10,943,487 $6,046,718 EEL Enrg Elements Ltd 0.002 100% 2,000,000 $3,253,779 JCS Jcurve Solutions 0.046 53% 755,433 $9,910,303 CZN Corazon Ltd 0.003 50% 16,815 $2,369,145 ENT Enterprise Metals 0.004 33% 185,000 $4,113,952 DGR DGR Global Ltd 0.009 29% 1,491,125 $7,305,872 MIO Macarthur Minerals 0.019 27% 2,631 $2,994,983 WBE Whitebark Energy 0.005 25% 1,652,800 $2,802,231 TR2 Tali Resources Ltd 0.635 25% 485,994 $19,127,550 HTG Harvest Tech Grp Ltd 0.017 21% 838,520 $12,726,256 CMB Cambium Bio Limited 0.320 21% 47,773 $4,844,906 SIX Sprintex Ltd 0.054 20% 5,656,968 $28,289,066 ZNC Zenith Minerals Ltd 0.036 20% 364,165 $15,883,665 AAU Antilles Gold Ltd 0.006 20% 178,623 $11,895,340 ADG Adelong Gold Limited 0.006 20% 25,356,918 $11,243,383 ALY Alchemy Resource Ltd 0.006 20% 100,000 $5,890,381 TEM Tempest Minerals 0.006 20% 5,968,892 $5,508,975 BDG Black Dragon Gold 0.051 19% 808,996 $13,672,541 CLA Celsius Resource Ltd 0.007 17% 220,101 $18,812,931 FRX Flexiroam Limited 0.007 17% 238 $9,104,392 VKA Viking Mines Ltd 0.007 17% 50,000 $8,063,692 PL3 Patagonia Lithium 0.044 16% 131,441 $4,537,594 IFG Infocusgroup Hldltd 0.019 16% 1,351,167 $4,671,027 RR1 Reach Resources Ltd 0.012 15% 7,280,085 $8,744,313 Cloud ERP provider JCurve Solutions (ASX:JCS) has locked in a $1 million strategic placement, issuing 20 million shares at 5 cents each to US-based investor Adam Riches. Riches is the founder of Netgain Solutions and a known name in the Oracle NetSuite space. As part of the deal, Riches can nominate a director, expected to be Chris Miller, pending approvals. Tali Resources (ASX:TR2) is gearing up to kick off drilling in August across five key targets at its West Arunta Project. Fresh geophysical modelling has confirmed strong anomalies at each site, with heritage and drilling approvals already locked in. The prospects show signs of potential copper and IOCG-style systems, especially near the known Pokali copper zone. Meanwhile, Bubs Australia (ASX:BUB) has tapped Joe Coote, ex-Darigold and Fonterra heavyweight, as its new CEO. Coote has more than 20 years in the dairy and infant nutrition game, and over $2 billion in regional sales under his belt. He replaces Reg Weine, who exits stage left after two years. Bubs' shares rose 1%. ASX SMALL CAP LOSERS Here are the worst performing ASX small cap stocks for July 28 : Code Name Price % Change Volume Market Cap BOE Boss Energy Ltd 1.955 -43% 53,930,006 $1,410,733,137 MOM Moab Minerals Ltd 0.001 -33% 44,000 $2,811,999 TMX Terrain Minerals 0.002 -33% 352,454 $7,595,443 MTB Mount Burgess Mining 0.005 -29% 2,887,613 $2,979,468 AOA Ausmon Resorces 0.002 -25% 4,330,025 $2,622,427 EDE Eden Inv Ltd 0.002 -25% 2,625,071 $8,219,762 HLX Helix Resources 0.002 -25% 2,140,006 $6,728,387 NIM Nimyresourceslimited 0.070 -23% 3,341,865 $21,883,752 AZL Arizona Lithium Ltd 0.007 -22% 5,018,025 $48,422,830 REZ Resourc & En Grp Ltd 0.015 -21% 3,357,968 $14,201,979 ERA Energy Resources 0.002 -20% 128,350 $1,013,490,602 MRD Mount Ridley Mines 0.002 -20% 100,000 $1,946,223 TMK TMK Energy Limited 0.002 -20% 5,125,666 $25,555,958 DAF Discovery Alaska Ltd 0.013 -19% 20,001 $3,747,755 GTE Great Western Exp. 0.013 -19% 3,323,194 $9,084,127 IS3 I Synergy Group Ltd 0.009 -18% 1,768,680 $18,769,299 ASM Ausstratmaterials 0.593 -18% 2,489,026 $145,689,194 SMM Somerset Minerals 0.015 -17% 10,316,361 $11,611,449 UNT Unith Ltd 0.005 -17% 2,643,048 $8,872,713 VEN Vintage Energy 0.005 -17% 94,260 $12,521,482 ALB Albion Resources 0.096 -17% 4,075,427 $15,172,333 SUM Summitminerals 0.041 -16% 1,055,178 $4,340,228 FTI Fortifai Ltd 0.140 -15% 150,871 $24,203,497 Boss Energy (ASX:BOE) got absolutely smoked, down 42% after waving a red flag over its Honeymoon uranium project. Recent drilling revealed patchy mineralisation and leachability issues, which could throw a spanner in its production targets. That overshadowed what was otherwise a decent finish to the financial year: 349,000 pounds of U₃O₈ produced (above guidance), $224 million in cash and inventory, and steady costs of US$36/lb. IN CASE YOU MISSED IT Neurizon Therapeutics (ASX:NUZ) has submitted a formal response to the US FDA addressing a clinical hold on its investigational new drug application for lead drug NUZ-001. Octava Minerals (ASX:OCT) has an option to acquire the Federation copper-silver-zinc project in Tasmania where historical drilling returned significant intersections. Nova Minerals (ASX:NVA) Estelle gold and critical minerals project. LAST ORDERS QPM Energy (ASX:WPM) has applied for debt financing for the 112MW Isaac Power Station from the Australian government's Northern Australia Infrastructure Facility. The NAIF has completed the strategic assessment phase and has moved to the due diligence stage of the process. Magnetic Resources (ASX:MAU) has secured a new mining lease covering the entire area of the Lady Julie North 4 Deposit, the main 1.94Moz resource at the Lady Julie North gold project. Titanium Sands (ASX:TSL) is advancing environmental studies at the Mannar heavy mineral project in Sri Lanka, with the company's environmental consultants moving to complete field investigations, technical assessments and data collection on site. ClearVue Technologies (ASX:CPV) has promoted interim CEO Douglas Hunt to official global CEO, positioning him to lead the company's global commercialisation strategy. CPV also promoted Tao Zhang to chief operating officer, welcomed Lisa Dreher as global marketing director and tapped Christopher Cole as head of research and development. At Stockhead, we tell it like it is. While QPM Energy, Magnetic Resources, Titanium Sands and ClearVue Technologies are Stockhead advertisers, they did not sponsor this article.
