Trump Says Tariff Relief Possible If EU Opens Market To US Firms
"If they agree to open up the union to American businesses, then we will let them pay a lower tariff," Trump said at an AI-focused event, referring to the ongoing negotiations with the EU. He added that serious talks were currently under way.
The US has been negotiating with the EU for weeks on a trade deal to prevent US tariffs of 30 per cent on imports from the bloc from taking effect on August 1.
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The Star
11 minutes ago
- The Star
Cambodia says immediate ceasefire purpose of talks; Thailand questions its sincerity
This pool photo taken and released on July 28, 2025 by Agence Kampuchea Presse (AKP) shows Cambodia's Prime Minister Hun Manet gesturing to government officials before he departures to Malaysia for ceasefire talks with Thailand, at Phnom Penh international Airport in Phnom Penh on July 28, 2025. Thailand and Cambodia's leaders are due to meet for peace talks on July 28, as a festering territorial dispute along their shared frontier dragged into a fifth day of open combat. - AFP BANGKOK/PHNOM PENH: An immediate ceasefire in a deadly border dispute is the purpose of talks with Thailand on Monday (July 28), Cambodia's Prime Minister said, but his Thai counterpart said there were doubts about Cambodia's sincerity ahead of the negotiations in Malaysia. Monday's talks to end the deadliest fighting in more than a decade between the South-East Asian neighbours are being hosted by Malaysia, the chair of the regional Asean bloc. Cambodian Prime Minister Hun Manet said the talks were co-organised by the United States, and that China would also take part in them. Both Thailand and Cambodia accuse the other of starting the hostilities last week and then escalating them. On Monday, officials from both countries said clashes along the disputed border were ongoing ahead of the talks later in the day. "We are not confident in Cambodia, their actions so far have reflected insincerity in solving the problem," acting Thai Prime Minister Phumtham Wechayachai told reporters ahead of his departure for Kuala Lumpur. "Cambodia has violated international law, but everybody wants to see peace. Nobody wants to see violence that affects civilians." Cambodia has strongly denied Thai accusations it has fired at civilian targets, and has instead said that Thailand has put innocent lives at risk. It has called for the international community to condemn Thailand's aggression against it. "The purpose of this meeting is to achieve an immediate 'ceasefire', initiated by President Donald Trump and agreed to by the Prime Ministers of Cambodia and Thailand," Hun Manet said in a post on X as he departed for the talks. US Secretary of State Marco Rubio said State Department officials would assist the peace efforts, after President Donald Trump had earlier said that he thought both leaders wanted to settle the conflict. The tensions between Thailand and Cambodia have intensified since the killing in late May of a Cambodian soldier during a brief skirmish. Border troops on both sides were reinforced amid a full-blown diplomatic crisis that brought Thailand's fragile coalition government to the brink of collapse. Malaysian Prime Minister Datuk Seri Anwar Ibrahim had proposed ceasefire talks soon after the border dispute erupted into conflict on Thursday, and China and the United States also offered to assist in negotiations. Anwar said he expected to chair the negotiations after being asked by the two governments to try to find a peace settlement, state media agency Bernama reported on Sunday. "So, I'm discussing the parameters, the conditions, but what is important is (an) immediate ceasefire," Anwar said. Thailand and Cambodia have bickered for decades over undemarcated points along their 817-km (508-mile) land border, with ownership of the ancient Hindu temples Ta Moan Thom and the 11th century Preah Vihear central to the disputes. Preah Vihear was awarded to Cambodia by the International Court of Justice in 1962, but the situation worsened in 2008 after Cambodia attempted to list it as a UNESCO World Heritage site. Skirmishes over several years brought at least a dozen deaths. Cambodia said in June it had asked the court to resolve its disputes with Thailand. Bangkok says it has never recognised the court's jurisdiction and prefers a bilateral approach. - Reuters
New Straits Times
11 minutes ago
- New Straits Times
Bursa Malaysia slightly firmer at midday on interest in certain heavyweights
KUALA LUMPUR: Bursa Malaysia ended the morning trading session marginally higher, driven by buying interest in selected heavyweight stocks, particularly in the construction and industrial products and services sectors. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.46 points or 0.29 per cent to 1,538.22, from Friday's close of 1,533.76. The benchmark index opened 4.29 points firmer at 1,538.05 and moved between 1,531.28 to 1,539.38 throughout the session. However, the broader market sentiment was slightly negative, with losers outpacing gainers 416 to 396, while 459 counters were unchanged, 1,238 untraded and 44 suspended. Turnover stood at 1.78 billion units worth RM992 million. Malacca Securities said sentiment on Wall Street has improved following recent progress in de-escalating the US-EU trade war, particularly with the new trade deal capping tariffs at 15 per cent. "We believe the positive sentiment may spillover towards stock on the local front, tracking Wall Street's rally. "Given Tenaga Nadiobal Bhd's capital expenditure rollout stretching until year-end and data centre packages expected to be announced over the next two in the second half of 2025," the firm added. Although the recent overnight policy rate cut may directly impact the net interest margin, Malacca Securities said the banking sector commands undemanding valuations. It said the sector is currently trading at an undemanding 10 times price-to-earnings (P/E) ratio, which is notably below its 10-year historical average of 12.2 times. Meanwhile, real estate investment trusts remain attractive given their premium yields over government-backed securities.
The Sun
11 minutes ago
- The Sun
Street protests risk Malaysia's tourism growth ahead of VM2026
KUALA LUMPUR: The Malaysia Tourism Agency Association (MATA) has raised concerns over ongoing street protests, warning they could damage the country's reputation as a safe travel destination ahead of Visit Malaysia 2026 (VM2026). With Malaysia actively promoting the tourism campaign to attract international visitors, large-scale demonstrations risk undermining economic recovery and public security. 'A tarnished national image can directly affect tourist arrivals and foreign investments,' MATA stated. The association highlighted that protests disrupt business operations, reduce job opportunities, and increase living costs, stressing that public safety must remain a priority. MATA cautioned that mass mobilisations could escalate into conflicts, further destabilising public order. Malaysia, known for Islamic and nature-based tourism, faces significant challenges if negative global media coverage persists. Datuk Sri Dr Mohd Khalid Harun, MATA president, noted Malaysia's post-pandemic recovery hinges on stability. 'Tourists seek safe destinations. Without peace, they will choose alternatives,' he said. While acknowledging the right to protest, he urged responsible actions to safeguard national harmony. 'Collective efforts are vital to ensure VM2026's success and sustained economic growth,' he added. - Bernama
