Trump Claims Deal Finalised With Pakistan
"We have just concluded a deal with Pakistan, whereby Pakistan and the US will work together on developing their massive oil reserves," Trump said in a post on social media. "We are in the process of choosing the oil company that will lead this partnership."
To date, the US and Pakistani governments have not issued formal releases about the deal.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
12 minutes ago
- The Star
Trump reserves harshest tariff rates for Laos, Myanmar and Syria
WASHINGTON: US President Donald Trump's revised global tariff plan unveiled Thursday (July 31) hit Laos and Myanmar hard with a 40% import duty - the second-highest rate in the world behind only Syria at 41%. The White House hasn't explained its rationale, and US trade with all three is small compared with its other partners. Myanmar remains under US sanctions following its 2021 coup, and Laos has drawn US scrutiny for deepening ties with China. Syria, meanwhile, had been penalised for human rights abuses under former President Bashar Al-Assad, but the US has sought to ease those restrictions since his overthrow last year. In Myanmar's case, trade with the US totalled US$734 million last year - yet the penalty will deepen an economic collapse that began when Min Aung Hlaing seized power in a coup more than four years ago. Washington has imposed sanctions for what it sees as the junta's use of violence against civilians and suppression of democracy activists. The tariff announcement came just a day after Myanmar's junta lifted emergency rule, paving the way for elections later this year. The US and other governments have criticised the vote as neither being free nor fair. Myanmar's junta chief praised Trump in a rare letter last month and compared his military's coup to the US president's baseless claims of election fraud, suggesting both leaders were victims of rigged votes. Min Aung Hlaing also requested a reduced tariff rate and offered to send a high-level trade delegation to Washington. Deputy Commerce Minister Min Min said by phone the government was unaware of the development and declined to comment. As for Laos, US exports to the South-East Asian nation totalled $40.4 million last year, while imports reached $803.3 million. The US has raised concern over its economic dependence on China and mounting debt tied to Chinese infrastructure projects. Trump recently signed an executive order easing sanctions on Syria to help rebuild the war-torn country and support its new government. Observers say there may be a simple reason for the high levies. "Rather than pick on these three nations, I suspect limited bandwidth in DC led officials to focus on bigger fry,' said Simon Evenett, founder of the St. Gallen Endowment for Prosperity Through Trade, a group based in Switzerland that tracks trade policies. - Bloomberg
The Sun
12 minutes ago
- The Sun
Sensible and steely: how Mexico's Sheinbaum has dealt with Trump
MEXICO CITY: A combination of tact and tenacity is credited for Mexican President Claudia Sheinbaum's successful dealings with US counterpart Donald Trump, most recently convincing him to delay a sky-high import tariff meant to come into effect Friday. The pair are known to get along despite sitting on opposite sides of the political aisle, earning Mexico's first woman president the epithet of 'Trump whisperer.' At least three times now, the US president has granted Mexico tariff relief and Trump has described Sheinbaum as a 'wonderful woman' to the envy of a host of other world leaders who have found exchanges with Trump can be tetchy. On Thursday, Trump agreed to delay by 90 days a 30 percent general tariff on imported Mexican goods, just hours before it was to take effect. It was the outcome of the ninth phone conversation between the two leaders since Trump returned to power in January with a strong rhetoric against undocumented migrants and fentanyl flowing from America's southern neighbor. How did she do it? 'With a cool head,' the president herself told reporters Friday. The 63-year-old physicist and dedicated leftist added that she avoids 'confronting' the magnate, all the while insisting on Mexico's sovereign rights in dealing with a man known to respect strong leaders. Sheinbaum has said that Mexicans should 'never bow our heads' and Trump has acknowledged her mettle, remarking: 'You're tough' in one phone call, according to The New York Times. 'Mexico represents a lot to the United States... they are aware of that,' Sheinbaum explained. 'Ability to convince' Thanks to the USMCA free trade agreement between Mexico, the United States and Canada, nearly 85 percent of Mexican exports have been tariff-free. And while a 30 percent general tariff has been delayed, for now, Mexico's vital automotive sector is the target of a 25 percent levy, albeit with discounts for parts manufactured in the United States. Its steel and aluminum sectors, like those of other countries, are subject to a 50 percent tariff. Mexico's government nevertheless claims the latest delay as a victory. 'Without being sycophantic, I can tell you that the way our president handles her conversations, her approach, the firmness with which she defends Mexico's interests, her ability to convince President Trump, is very significant,' Secretary of Economy Marcelo Ebrard, who leads trade negotiations, told reporters Thursday. Give and take Sheinbaum seems also to have adopted a give and take approach, deploying thousands of border troops to assuage Trump's concerns about migration and drug flows. The president insists she has 'not yielded anything' in negotiations with Trump, and talks are ongoing between the neighbors for a security agreement to tackle the problem of fentanyl and drug trafficking. Sheinbaum has also raised the possibility of importing more US products to reset the trade balance. Some fear the Mexican leader is merely buying time. The latest tariff delay 'does not solve the issue of uncertainty; we return to the starting point,' Diego Marroquin, a trade expert at the Center for Strategic and International Studies in Washington, told AFP. - AFP
Borneo Post
12 minutes ago
- Borneo Post
Istana Negara: Sultan Ibrahim to make historic state visit to Russia
His Majesty Sultan Ibrahim, King of Malaysia will make history as the first Malaysian Head of State to conduct a state visit to Russia since the establishment of diplomatic relations in 1967. – Bernama photo KUALA LUMPUR (Aug 2): His Majesty Sultan Ibrahim, the King of Malaysia, will undertake a state visit to Russia from August 5 to 10, 2025, at the invitation of President Vladimir Putin. In a statement today, Istana Negara announced that His Majesty will make history as the first Malaysian Head of State to conduct a state visit to Russia since the establishment of diplomatic relations in 1967. 'This visit also reflects the important role of the Malaysian monarchy in advancing the nation's diplomacy,' it said. Istana Negara added that the visit will not only strengthen existing bilateral relations but also open new avenues for cooperation in various fields, including trade, higher education, technology, innovation, and people-to-people ties. As ASEAN Chair in 2025, Malaysia will also play a major role in enhancing strategic cooperation, particularly in the context of Russia's status as an ASEAN Dialogue Partner since 1996, it added. While in Moscow, Istana Negara said His Majesty Sultan Ibrahim will be accorded a state welcome ceremony at the Kremlin by President Vladimir Putin, followed by an official meeting between the two Heads of State. 'His Majesty will also attend a state banquet hosted by the President of the Russian Federation,' Istana Negara said. His Majesty is then scheduled to visit the Central Scientific Research Automobile and Automotive Engines Institute (NAMI) as well as the Tochka Kipeniya Technology and Innovation Hub. After concluding his programme in Moscow, His Majesty will travel to Kazan in the Republic of Tatarstan on Aug 8, 2025. Tatarstan is one of Russia's autonomous republics, with a Muslim-majority population. In Kazan, Istana Negara said His Majesty will be granted an audience with the Rais (Head) of the Republic of Tatarstan, Rustam Minnikhanov, and will tour a helicopter manufacturing and assembly facility. – Bernama King of Malaysia lead Sultan Ibrahim Sultan Iskandar Vladimir Putin
