Malaysia-US tariff talks concluded, awaiting Trump's official response, says Zafrul
In an Instagram post on Thursday (July 31), Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz revealed that Prime Minister Datuk Seri Anwar Ibrahim had an early morning phone call with President Trump to discuss the status of the tariffs.
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The Star
2 hours ago
- The Star
US, NATO developing novel funding mechanism for Ukraine weapons transfers
WASHINGTON (Reuters) -The United States and NATO are working on a novel approach to supply Ukraine with weapons using funds from NATO countries to pay for the purchase or transfer of U.S. arms, according to three sources familiar with the matter. The renewed transatlantic cooperation on Ukraine comes as U.S. President Donald Trump has expressed frustration with Moscow's ongoing attacks on its neighbor. Trump, who initially took a more conciliatory tone toward Russia as he tried to end the more than three-year war in Ukraine, has threatened to start imposing tariffs and other measures if Moscow shows no progress toward ending the conflict by August 8. The president said last month the U.S. would supply weapons to Ukraine, paid for by European allies, but did not indicate how this would be done. NATO countries, Ukraine, and the United States are developing a new mechanism that will focus on getting U.S. weapons to Ukraine from the Priority Ukraine Requirements List, known under the acronym PURL, the sources said. Ukraine would prioritize the weapons it needs intranches of roughly $500 million, and NATO allies - coordinated by NATO Secretary General Mark Rutte - would then negotiate among themselves who would donate or pay for items on the list. Through this approach, NATOallies hope to provide $10 billion in arms for Ukraine, said a European official, speaking on condition of anonymity. It was unclear over what timeframe they hope to supply the arms. "That is the starting point, and it's an ambitious target that we're working towards. We're currently on that trajectory. We support the ambition. We need that sort of volume," the European official said. NATO declined to comment. The White House, Pentagon, and Ukrainian embassy in Washington did not respond to requests for comment. Russian forces are gradually advancing against Ukraine, and control one-fifth of Ukraine's territory. FASTER ARMS RESTOCKING If a NATO country decides to donate weapons to Ukraine, the mechanism would allow that country to effectively bypass lengthy U.S. arms sales procedures to replenish its own stocks, said one U.S. official, speaking on condition of anonymity. But the NATO country would have to pay the U.S. up front for the speedier replenishment. The money would be paid into a U.S.-held account, possibly at the U.S. Treasury Department, or to an escrow fund, although the exact structure remains unclear, the official said. NATO countries also have the option of simply paying the United States to send weapons directly to Ukraine. In that case, the payment could be made via NATO or directly to the U.S. Department of Defense, said a second source, speaking on condition of anonymity. This would be in addition to the United States' own effort to identify arms from U.S. stockpiles to send to Ukraine under the Presidential Drawdown Authority, which allows the U.S. president to draw from current weapons stocks to help allies in an emergency. At least one tranche of weapons for Ukraine is currently being negotiatedunder the new mechanism, two sources said, though it was unclear if any money has yet been transferred. Trump's fellow Republicans in Congress have introduced legislation, known as the PEACE Act, that aims to create a fund at the U.S. Treasury in which allies can deposit money that would pay to replenish U.S. military equipment donated to Ukraine. Ukraine's needs remain consistent with previous months - air defenses, interceptors, systems, rockets, and artillery. The last statement of need from Ukraine came at the July 21 Ramstein conference led by EU allies, including Britain. (Reporting by Gram Slattery, Mike Stone, Phil Stewart in Washington; additional reporting by Patricia Zengerle in Washington and Andrew Gray in Brussels; editing by Michelle Nichols and Rod Nickel)
The Star
3 hours ago
- The Star
South Africa continues tariff negotiation with U.S.
JOHANNESBURG, Aug. 1 (Xinhua) -- With a 30-percent tariff imposed by the United States set to take effect, South African President Cyril Ramaphosa on Friday pledged to pursue all diplomatic efforts to safeguard the national interests. According to a statement released by the presidency, South Africa will continue to negotiate with the United States regarding the 30 percent tariff, which is now expected to take effect at 12:01 a.m. EDT (0401 GMT) on Aug. 7. The South African government has presented the U.S. side with a framework deal aimed at enhancing mutually beneficial trade and investment relations. "All channels of communication remain open to engage with the United States, and our negotiators are ready, pending an invitation from the United States," the presidency said in the statement. The presidency noted that the South African government is finalizing a package to support companies vulnerable to reciprocal tariffs, which includes several measures to assist firms, producers, and workers. "South Africa will continue to pursue all diplomatic efforts to safeguard its national interests," said the presidency. On Tuesday, the South African government acknowledged that "the intersection of geopolitical, domestic and trade issues" defines the current impasse between the two sides. Relations between South Africa and the United States have taken a downturn since U.S. President Donald Trump took office in January. Trump indicated that he may skip the Group of 20 Summit, which will be held in November in Johannesburg, the largest city and economic hub of South Africa.
New Straits Times
4 hours ago
- New Straits Times
Medicaid, Trump tax cuts 'kick off' 2026 campaign
RESIDENTS of Columbus, Indiana awoke last week to a yellow billboard purchased by the Democratic National Committee (DNC) blaring: "Under Trump's Watch, Columbus Regional Health is Cutting Medical Services." Meanwhile, the National Republican Congressional Committee (NRCC), which oversees races for the United States House of Representatives, last month launched a digital ad campaign touting President Donald Trump's tax cuts and blaming Democrats for spiking inflation. As members of Congress return to their home districts for the August recess, the Democratic and Republican parties are launching ad blitzes centred around the tax-cut and spending bill Trump signed into law on July 4, in an unofficial start to the 2026 midterm election campaign. Democrats are focusing their message around access to healthcare while Republicans are countering that the tax provisions will put more money in voters' pockets. The bill makes permanent Trump's 2017 tax cuts and funds his immigration enforcement crackdown, while reducing healthcare and food aid. It devotes US$170 billion to immigration enforcement while cutting US$1.1 trillion from Medicaid and other public health programmes and US$186 billion in food assistance. The nonpartisan Congressional Budget Office estimated that 10 million people would lose their health insurance by 2034 as a result of the bill, and that the tax provisions and increased immigration and military spending would increase the federal deficit by US$3.4 trillion over the next decade. Republican strategists say they have plenty of time to sell the bill's benefits. "We will use every tool to show voters that the provisions in this bill are widely popular," said Mike Marinella, a spokesman for the NRCC. And the party has a cash advantage. The Republican National Committee (RNC) had US$81 million in cash at the end of June, compared with the DNC's US$15 million during the same period. The RNC also enjoys a huge asset in a sitting president who is still holding fundraisers for big-ticket donors. Republicans can only afford a net loss of two of the 220 seats they hold in the House to maintain control. In the Senate, they have a 53-47 advantage. According to a Reuters/Ipsos poll, conducted last month, some 64 per cent of registered voters oppose cuts to Medicaid and food stamps in return for lower taxes for everyone. Democrats are seizing on that sentiment, pushing the idea that Republicans have taken away healthcare to pay for tax giveaways for billionaires. "Republicans threw working families under the bus to fund tax cuts for the wealthy, and we'll never let them — or voters — forget that," said DNC Deputy Communications Director Abhi Rahman in a statement. "This will define the midterms." Republicans say the bill's provisions on tips, overtime and Social Security show the party is focused on issues affecting working families. They also point to a US$50 billion fund the bill establishes to help rural hospitals. Another Republican strategy memo prepared by Trump's pollsters, urges candidates to "lead on kitchen-table issues." Democrats, meanwhile, are trying to tie Medicaid cuts to reduced healthcare access and higher costs. The DNC's website claims that the bill will "cost the poorest 10 per cent of households US$1,600 a year while raising the income of the richest 10 per cent of Americans by US$12,000 a year". Unrig Our Economy, a left-leaning group, is running ads in Iowa, Arizona and Pennsylvania depicting voters voicing frustration at their Republican lawmakers for voting for Trump's bill. "I'm so angry that Congresswoman Mariannette Miller-Meeks just voted for the largest cut to Medicaid in history to give tax breaks to billionaires," said one ad in Iowa, featuring a Davenport resident identified as Maria. Protect Our Care, a left-leaning healthcare advocacy organisation, said it planned to spend up to US$10 million on ads in the first half of next year, largely focused on urging Republican lawmakers to restore funding to Medicaid. Climate Power and the League of Conservation Voters spent US$500,000 on an ad pressuring lawmakers in six congressional districts to vote against the bill, claiming that it would increase electricity rates, according to its president, Pete Maysmith.
