logo
Bessent says US trading partners still negotiating in good faith after court ruling

Bessent says US trading partners still negotiating in good faith after court ruling

Yahoo29-05-2025

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent said on Thursday that trading partners including Japan were continuing to negotiate with the U.S. in good faith, and there has been no change in their attitudes since a U.S. trade court ruled against the Trump administration's latest tariffs.
But Bessent told Fox News Channel that trade negotiations with China were a bit stalled, but he expected more talks with Chinese officials in coming weeks.
U.S. trading partners "are coming to us in good faith and trying to complete the deals before the 90-day pause ends," Bessent said. "So we've seen no change in their attitude in the past 48 hours. In fact I have a very large Japanese delegation coming to my office first thing tomorrow morning."

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Japan's Princess Kako receives medal in Brazil as she starts 11-day trip
Japan's Princess Kako receives medal in Brazil as she starts 11-day trip

San Francisco Chronicle​

time28 minutes ago

  • San Francisco Chronicle​

Japan's Princess Kako receives medal in Brazil as she starts 11-day trip

SAO PAULO (AP) — Japan's Princess Kako of Akishino, a niece of Emperor Naruhito, received the highest order of Brazil's powerhouse state of Sao Paulo on Friday as she kicks off an 11-day trip to the South American nation. Her trip also marks the 130th anniversary of diplomatic relations between the two countries. The younger daughter of Crown Prince Fumihito and Crown Princess Kiko arrived on Thursday in Sao Paulo. She held appointments with members of the Japanese community on Friday and finished her schedule at a dinner with Governor Tarcisio de Freitas at the state government palace. She was awarded the Order of the Ipiranga at a closed ceremony. Princess Kako will visit another seven cities, including Rio de Janeiro and capital Brasilia, where she is expected to meet President Luiz Inácio Lula da Silva. Speaking to de Freitas, she made reference to the first Japanese immigrants arriving in the city of Santos in 1908 after a gruesome trip through the seas. On the first day of her trip, she visited the memorial to pioneer Japanese immigrants at Sao Paulo's Ibirapuera Park. 'I felt that the immigrants made an enormous effort to adapt to Brazil, and still today are very active in different areas. The fact that Brazil sheltered the Japanese community made the connections between the two countries to become deeper,' the princess said. Today, Brazil has the largest population of people of Japanese descent in the world, estimated at about 2.7 million. About half of those live in Sao Paulo state, official figures show. Emperor Naruhito has no male children, which makes his brother Akishino, Princess Kako's father, the first successor in line. Japan's tradition does not allow women to take the throne. Princess Mako, who is Princess Kako's older sister, was the last member of Japan's imperial family to visit Brazil. She traveled to 13 cities of the South American nation in 2018.

L'Oreal sees Middle East and Southeast Asia as next growth engines as China slows: ‘Eventually demographics have to win'
L'Oreal sees Middle East and Southeast Asia as next growth engines as China slows: ‘Eventually demographics have to win'

Yahoo

time28 minutes ago

  • Yahoo

L'Oreal sees Middle East and Southeast Asia as next growth engines as China slows: ‘Eventually demographics have to win'

For more than a decade, China's aspirational shoppers, spurred by a fast-growing economy and rising wages, snapped up products from cosmetics giants like L'Oreal, Estee Lauder, and Shiseido. Before the COVID pandemic hit, China appeared set to overtake the U.S. as the world's largest makeup market. Those boom times are over, as more Chinese consumers now turn to up-and-coming local brands, like Mao Geping and Florasis. L'Oreal's sales in Mainland China dropped last year, shrinking its overall North Asia sales by around 3%. The Chinese market, the bulk of the firm's North Asia revenue, now accounts for 17% of group sales, down from 23% in 2022. The French firm continues to call China an important market, but has reportedly started cutting its retail workforce due to slower Chinese demand. As China stagnates, L'Oreal is now looking to regions, like the Middle East and Southeast Asia, as a source of growth. SAPMENA—L'Oreal's term for 'South Asia Pacific, Middle East, and North Africa'—will soon 'play a much bigger role' when it comes to beauty, says Vismay Sharma, who oversees the region for the French cosmetics firm. L'Oreal, No. 91 on Fortune's Europe 500, reported sales of 1.1 billion euros ($1.19 billion) for the first quarter of 2025, up 12.2% year-on-year, across SAPMENA and Sub-Saharan Africa (SSA). That's still small compared to other regions, sitting far behind Europe, North America and North Asia. But while SAPMENA-SSA only contributed 9.2% of L'Oreal's quarterly revenue, it was the only region to log double-digit growth. SAPMENA covers a huge swathe of the globe, stretching from Morocco all the way down to New Zealand just under 19,000 kilometers away. The region's 35 markets cover 3 billion people, or about 40% of the world's population, yet only accounts for 10% of global beauty sales. 'It has to come together, and eventually demographics have to win,' Sharma says. SAPMENA's quick growth doesn't surprise Sharma. 'The consumers in this part of the world are about 5 years younger than the rest of the world, live in aspirational societies and in economies that are growing fast,' he says. China has proved to be a tricky market for global cosmetics firms post-pandemic. Sluggish China sales have dragged down the financial results of U.S. firm Estee Lauder and Japan's Shiseido. A sluggish economy and stagnant consumption are partly to blame. But there's also new competition. 'C-Beauty' brands are starting to pick up steam among Chinese shoppers, with new brands going viral on Douyin, the Chinese version of TikTok, and other social media platforms. (L'Oreal is paying attention, investing in local Chinese brands like To Summer) Still, Sharma thinks China offers lessons for SAPMENA. Southeast Asia, like China, has highly connected consumers who are used to e-commerce and livestreaming. For example, Sharma notes that over 50% of L'Oreal's business in Vietnam comes from e-commerce. This is less true of the Middle East and North Africa. 'When you look at the ecosystem of beauty over there, you still don't have TikTok Shop. They're still a few years behind platforms like Shopee, like Lazada,' he says. Yet consumers in the Middle East share similar preferences to those in Southeast Asia. 'Expectations for beauty are very similar. We can see aspirations in terms of kind of hair, skin, lips, and eyes,' Sharma says, pointing to a preference for longer black hair as an example. That gives L'Oreal a chance to grow in the region. 'Our ability to create content at scale in the GCC becomes a huge advantage,' Sharma says. This story was originally featured on

Japan's Princess Kako receives medal in Brazil as she starts 11-day trip
Japan's Princess Kako receives medal in Brazil as she starts 11-day trip

Yahoo

time38 minutes ago

  • Yahoo

Japan's Princess Kako receives medal in Brazil as she starts 11-day trip

SAO PAULO (AP) — Japan's Princess Kako of Akishino, a niece of Emperor Naruhito, received the highest order of Brazil's powerhouse state of Sao Paulo on Friday as she kicks off an 11-day trip to the South American nation. Her trip also marks the 130th anniversary of diplomatic relations between the two countries. The younger daughter of Crown Prince Fumihito and Crown Princess Kiko arrived on Thursday in Sao Paulo. She held appointments with members of the Japanese community on Friday and finished her schedule at a dinner with Governor Tarcisio de Freitas at the state government palace. She was awarded the Order of the Ipiranga at a closed ceremony. Princess Kako will visit another seven cities, including Rio de Janeiro and capital Brasilia, where she is expected to meet President Luiz Inácio Lula da Silva. Speaking to de Freitas, she made reference to the first Japanese immigrants arriving in the city of Santos in 1908 after a gruesome trip through the seas. On the first day of her trip, she visited the memorial to pioneer Japanese immigrants at Sao Paulo's Ibirapuera Park. 'I felt that the immigrants made an enormous effort to adapt to Brazil, and still today are very active in different areas. The fact that Brazil sheltered the Japanese community made the connections between the two countries to become deeper,' the princess said. Today, Brazil has the largest population of people of Japanese descent in the world, estimated at about 2.7 million. About half of those live in Sao Paulo state, official figures show. Emperor Naruhito has no male children, which makes his brother Akishino, Princess Kako's father, the first successor in line. Japan's tradition does not allow women to take the throne. Princess Mako, who is Princess Kako's older sister, was the last member of Japan's imperial family to visit Brazil. She traveled to 13 cities of the South American nation in 2018. Mauricio Savarese, The Associated Press

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