
Philippine-US engagements reaffirm alliance and shared interests, ambassador to Washington says
MANILA, March 3 (Reuters) - The United States and Philippines have reaffirmed in all bilateral engagements the importance of their alliance and shared interests in the Indo-Pacific region, Manila's ambassador to the United States said on Monday. Jose Manuel Romualdez, speaking at a forum with foreign journalists, also said all countries need to be ready to beef up their own defence and ensure their economic security.

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Reuters
24 minutes ago
- Reuters
Exclusive: US made 'tough' requests to Vietnam in trade talks, sources say
HANOI, June 3 (Reuters) - The U.S. has sent a "long" list of "tough" requests to Vietnam in its tariff negotiations, including demands that could force the country to cut its reliance on Chinese industrial goods imports, two people briefed about the matter told Reuters. Washington wants Vietnam-based factories to reduce their use of materials and components from China and is asking the country to control more carefully its production and supply chains, one of the people briefed on the talks said, without elaborating on whether quantitative targets were included. The list is part of an "annex" to a framework text prepared by U.S. negotiators, according to four people familiar with the matter. One of them, who had direct access to the document, said the list was sent to Hanoi at the end of May after the conclusion of a second round of talks with Washington aimed at avoiding 46% "reciprocal" tariffs on imports from Vietnam. The sources declined to be named because those discussions were not public. Reuters reported on Monday that the Trump administration wants countries to provide their best offers on trade negotiations by Wednesday, citing a draft letter to negotiating partners. It was unclear which countries would receive the letter, but it was directed at those with active negotiations that included meetings and exchanges of documents. Washington has been engaged in such talks with countries including Vietnam, the European Union, Japan and India. The sources described the U.S. requests to Vietnam as "tough" and "difficult". It is unclear how Hanoi will respond to Washington's requests and whether it will send its own proposal by Wednesday. The U.S. Trade Representative did not respond to a request for comment outside U.S. business hours. Vietnam's trade ministry did not reply to a request for comment. A source briefed on the matter said if U.S. requests to effectively cut Vietnam's reliance on China were met, they could pose a serious challenge to the Southeast Asian country's economy. Its sprawling manufacturing industry, which produces consumer goods including Apple devices and Nike shoes, is closely integrated into its much bigger neighbour's supply chains. It might also complicate Vietnam's long-standing policy of maintaining good relations with China, a major foreign investor but also a source of security concerns due to conflicting claims in the South China Sea. Vietnam has nearly tripled its exports to the United States since the start of the U.S.-China trade war in 2018, when the first Trump administration imposed wide-ranging tariffs on Beijing, pushing some manufacturers to move production south. But as exports to the U.S. boomed, Vietnam also vastly expanded imports from China, with their inflow almost exactly matching the value and swings of exports to the United States over the years, each totalling around $140 billion in 2024, data from the U.S. and Vietnam show. U.S. officials have long accused Vietnam of being used as a waypoint for Chinese goods destined for the United States. At times, according to the allegations, goods had "Made in Vietnam" labels despite having received no or insufficient added value in the country - allowing Chinese exporters to avoid high U.S. duties on their goods. Aware of the U.S. criticism, Hanoi has launched a crackdown on illegal transhipment of goods. The effect has yet to be seen in trade flows, however, as exports to the United States and imports from China both reached a record high in April, according to the latest data. Vietnam has also repeatedly shown its willingness to reduce non-tariff barriers and to import more U.S. goods, in line with long-standing requests from Washington. In recent weeks, officials have reiterated plans to buy U.S. planes and have signed or pledged multiple non-binding agreements, including on the purchase of farm products and energy. That may, however, not be enough, as U.S. negotiators seek real contracts, one of the people said.


Reuters
3 hours ago
- Reuters
Turkish inflation falls to 35.4% in May, below forecast
ISTANBUL, June 3 (Reuters) - Turkish annual inflation dipped to 35.41% in May, official data showed on Tuesday, below a Reuters poll forecast and less than half the level of more than 75% that it reached a year earlier. Month-on-month, consumer price inflation was 1.53%, the Turkish Statistical Institute said, also below forecasts. In April, inflation stood at 3.0% on a monthly basis and 37.86% annually. In a Reuters poll, the monthly inflation rate was expected to be 2.0% in May, with the annual rate seen at 36.1%. Annual increases were led by education prices which were up 71.67% on the year, while housing prices climbed 67.43%. Food and non-alcoholic drinks prices rose 32.87%. Inflation is seen at around 30% by end-2025, the poll showed, above a central bank forecast of 24%. Economists have revised up year-end inflation forecasts since March despite the central bank's recent tightening steps. In March, Turkish assets suffered, with the lira touching a record low against the U.S. dollar after Istanbul Mayor Ekrem Imamoglu - Erdogan's chief political rival - was jailed pending trial over graft charges that he denies. The domestic producer price index rose 2.48% month-on-month in May for an annual rise of 23.13%, the data showed.


The Herald Scotland
4 hours ago
- The Herald Scotland
Russia's 'Pearl Harbor': How Ukraine pulled secret drone attack
Ukrainian President Volodymyr Zelensky called the massive attack, which he said used 117 drones, his counntry's "longest-range operation." More: War in Ukraine rages on as Putin's 3-day ceasefire nears: updates in maps Russia's Pearl Harbor? "It had an absolutely brilliant outcome," Zelenskyy said on Telegram. "Russia has had very tangible losses, and justifiably so." With Ukraine set to meet Russia for U.S.-brokered peace talks the next day and amid aggressive Russian advances on the battlefield, the ambitious attack showed neither side is counting on a breakthrough in negotiations. "We hope that the response will be the same as the US response to the attack on their Pearl Harbor or even tougher," Russian war blogger Roman Alekhin wrote on Telegram, comparing the Ukrainian strike to the 1941 Japanese raid on a US base in Hawaii. "It is impossible to restore these losses," Rybar, a pro-Kremlin Telegram channel, said. Ukrainian "Spider's Web" The operation - codenamed "Spider's Web" - was characteristic of the style of warfare Ukraine has made its brand as it attempts to undercut Russia's larger military - flooding the zone with cheap, deadly drones. But the scope of this attack set a new precedent. The drones, strapped with explosives, were hidden inside the roofs of wooden sheds, which were dropped off by trucks at the outer edge of Russian military bases, a Ukrainian security official told Reuters. The roofs then opened by remote control, unleashing the drones to swarm the military bases. Ukraine's intelligence service said 41 Russian aircraft were hit at four air bases stretching from the Finnish border to Siberia. One targeted base, in the Irkutsk region, lies more than 2,600 miles from the frontlines, making it the farthest target Ukraine has hit during the conflict. Russia's defense ministry acknowledged in Sunday Telegram messages that drones launched "from an area in close proximity to airfields resulted in several aircraft catching fire." The operation came a day after Russia launched a massive overnight attack on Ukraine using 472 drones and seven missiles, according to Ukraine's air force - the most drones launched in one operation throughout the conflict. Separately on Sunday, Ukraine struck two highway bridges in Russian regions close to its borders, killing seven people and injuring 69. One bridge collapsed on a train carrying nearly 400 passengers to Moscow, according to Russian investigators. Three of the missiles and 372 drones were downed, the air force said. Peace talks restart as Trump loses patience with Russia Ukraine launched the operation a day before Ukraine and Russia will meet for U.S.-mediated negotiations in Istanbul, Turkey, to end the grinding conflict. President Donald Trump has pressed both sides for a ceasefire. Earlier this year, his focus was trained on Ukraine, sparking tension with Zelensky that exploded into public view during a combative Oval Office meeting in late February. But in recent weeks, Trump has grown more frustrated with Russian President Vladimir Putin's dug-in position in negotiations. In his starkest criticism of Putin to date, Trump said Putin had "gone absolutely CRAZY" after Russia launched a barrage of drones and missiles into Ukrainian cities last weekend that killed a dozen people. "I've always had a very good relationship with Vladimir Putin of Russia, but something has happened to him. He has gone absolutely CRAZY!" Trump wrote in a May 25 Truth Social. Trump said days later in the Oval Office that he was "very disappointed" that "people were killed in the middle of what you would call a negotiation."