US and EU close in on 15% tariff deal, FT reports
Both the EU and US would waive tariffs on some products, including aircraft, spirits and medical devices, the report said, citing people familiar with the matter.
The bloc will continue to prepare a possible €93-billion ($109-billion) package of retaliatory tariffs, set at up to 30 per cent, in case they cannot agree a deal by August 1, the report added.
The White House and a spokesperson for the European Union did not immediately respond to a Reuters request for comment. Reuters could not immediately verify the FT report.
The Commission earlier said on Wednesday its primary focus was to achieve a negotiated outcome with the United States to avert 30% US tariffs that Trump has said he will impose on the 27-nation bloc on August 1.
In 2024, the US imported more than $55 billion of vehicles and automotive parts from Japan. From the EU, the equivalent figure was €47.3 billion ($55.45 billion), with far fewer US models sold into the EU or Japanese market. — Reuters
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GMA Network
3 hours ago
- GMA Network
Thai-Cambodian fighting extends into third day, Malaysia urges ceasefire
People gather to receive water supplies donated at Batthkao Primary School camp, amid ongoing clashes on the Thai-Cambodian border that extended to the third day, with new flashpoints emerging as both sides seek diplomatic support and urge for negotiations, in Oddar Meanchey province, Cambodia, July 26, 2025. REUTERS/Soveit Yarn SISAKET, Thailand - Fighting on the Thai-Cambodian border extended into a third day and new flashpoints emerged on Saturday as both sides said they had acted in self-defense in the border dispute and called on the other to cease fighting and start negotiations. More than 30 people have been killed and more than 130,000 people displaced in the worst fighting between the Southeast Asian neighbors in 13 years. There were clashes early on Saturday, both sides said, in the neighboring Thai coastal province of Trat and Cambodia's Pursat Province early, a new front more than 100 km (60 miles) from other conflict points along the long-contested border. The two countries have faced off since the killing of a Cambodian soldier late in May during a brief skirmish. Troops on both sides of the border were reinforced amid a full-blown diplomatic crisis that brought Thailand's fragile coalition government to the brink of collapse. As of Saturday, Thailand said seven soldiers and 13 civilians had been killed in the clashes, while in Cambodia five soldiers and eight civilians had been killed, said Defense Ministry spokesperson Maly Socheata. In the Thai border province of Sisaket, a university compound has been converted into temporary accommodation, where a volunteer said more than 5,000 people were staying. Samrong Khamduang said she left her farm, about 10 km from the border, when fighting broke out on Thursday. The 51-year-old's husband stayed behind to look after livestock. "We got so scared with the sound of artillery," she said. "But my husband stayed back and now we lost the connection. I couldn't call him. I don't know what is happening back there." In Kuala Lumpur, Malaysian Prime Minister Anwar Ibrahim, the chair of the ASEAN regional bloc, said he would continue to push a ceasefire proposal. Cambodia has backed Anwar's plan, while Thailand has said it agreed with it in principle. "There is still some exchange of fire," Anwar said, according to state news agency Bernama. He said he had asked his foreign minister "to liaise with the respective foreign ministries and, if possible, I will continue engaging with them myself – at least to halt the fighting". Security Council meeting Thailand's ambassador to the United Nations told a Security Council meeting on Friday that soldiers had been injured by newly planted land mines in Thai territory on two occasions since mid-July - claims Cambodia has strongly denied - and said Cambodia had then launched attacks on Thursday morning. "Thailand urges Cambodia to immediately cease all hostilities and acts of aggression, and resume dialogue in good faith," Cherdchai Chaivaivid told the council in remarks released to media. Cambodia's defense ministry said Thailand had launched "a deliberate, unprovoked, and unlawful military attack" and was mobilizing troops and military equipment on the border. "These deliberate military preparations reveal Thailand's intent to expand its aggression and further violate Cambodia's sovereignty," the ministry said in a statement on Saturday. Cambodia called for the international community to "condemn Thailand's aggression in the strongest terms" and to prevent an expansion of its military activities, while Bangkok reiterated it wanted to resolve the dispute bilaterally. Thailand and Cambodia have bickered for decades over jurisdiction of various 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 tension escalated in 2008 after Cambodia attempted to list it as a UNESCO World Heritage site. That led to skirmishes over several years and at least a dozen deaths. Cambodia in June said it had asked the court to resolve its disputes with Thailand, which says it has never recognized the court's jurisdiction and prefers a bilateral approach. — Reuters
GMA Network
6 hours ago
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Envoy stresses economic, security ties on 69th Japan-PH friendship day
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"This concept, promoting peace, stability, and prosperity across the region through ensuring rules-based international order, has certainly been realized by our bilateral cooperation. The Japan-Philippines Reciprocal Access Agreement (RAA) signed in July 2024, for instance, has emerged as a landmark achievement for our two countries," Endo said. The RAA will grant access to military personnel from both states to hold joint trainings in each other's country. Similar to the 1999 Visiting Forces Agreement (VFA) between the Philippines and the United States, the RAA is Japan's third defense accord after the United Kingdom and Australia. "Its unanimous approval by the Philippine Senate in December of the same year and its approval by the Japanese Diet last June underscore our shared commitment to regional peace and stability. In the recently held Japan-Philippines Summit Meeting, our two leaders further agreed to commence negotiations on an Acquisition and Cross-Servicing Agreement (ACSA). 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This year, in fact, we had the honor of hosting the 71st Anniversary of the Japan Self-Defense Forces aboard the JMSDF vessel, JS ISE, during its visit at the Port of Manila," he added. The envoy also cited the High-Level Launch Meeting of the Friends of the Fissile Material Cut-off Treaty (FMCT) in September 2024, alongside the Philippines, exemplifies our collaborative approach. "As fellow members of the Non-Proliferation and Disarmament Initiative, we are working together to enhance cooperation in nuclear disarmament and non-proliferation," Endo said. Cultural ties The envoy highlighted the Filipinos' growing interest in Japanese culture, citing the record-high of over 820,000 Filipino visitors to Japan last year. "With the recent opening of the Japan Visa Application Center (JVAC), we are optimistic about sustaining this encouraging trend in the years ahead," Endo said. "With tourism a promising source of shared experiences, our ties continue to find renewal through the personal encounters Filipinos have with Japanese culture. In our lively receptions at the Ambassador's Residence, I've had the privilege of hearing about the lasting friendships and experiences forged by Filipino participants in the Japan Exchange and Teaching (JET) Programme and recipients of the Japanese Government Scholarship (MEXT)," he said. "Meanwhile, the aspirations of our Filipino JDS (Project for Human Resource Development Scholarship) Fellows and SSEAYP (Ship for Southeast Asian and Japanese Youth Program) delegates have also been a glowing testament to deepening people-to-people exchanges with the Philippines," he added. — VDV, GMA Integrated News
GMA Network
12 hours ago
- GMA Network
China's Premier Li proposes global AI cooperation organization
Chinese Premier Li Qiang speaks during the EU-China Business Leaders Symposium, at the 25th European Union - China Summit in the Great Hall of the People, in Beijing, China, 24 July 2025. ANDRES MARTINEZ CASARES/Pool via REUTERS/File Photo SHANGHAI - Chinese Premier Li Qiang on Saturday proposed establishing an organization to foster global cooperation on artificial intelligence, calling on countries to coordinate on the development and security of the fast-evolving technology. Speaking at the opening of the annual World Artificial Intelligence Conference (WAIC) in Shanghai, Li called AI a new engine for growth, but adding that governance is fragmented and emphasizing the need for more coordination between countries to form a globally recognized framework for AI. The three-day event brings together industry leaders and policymakers at a time of escalating technological competition between China and the United States — the world's two largest economies — with AI emerging as a key battleground. "Currently, overall global AI governance is still fragmented. Countries have great differences particularly in terms of areas such as regulatory concepts, institutional rules," Li said. "We should strengthen coordination to form a global AI governance framework that has broad consensus as soon as possible," he said. Washington has imposed export restrictions on advanced technology to China, including the most high-end AI chips made by companies such as Nvidia and chipmaking equipment, citing concerns that the technology could enhance China's military capabilities. Despite these restrictions, China has continued making AI breakthroughs that have drawn close scrutiny from US officials. Li did not name the United States in his speech, but he warned that AI could become an "exclusive game" for a few countries and companies, and said challenges included an insufficient supply of AI chips and restrictions on talent exchange. China wanted to share its development experience and products with other countries, especially those in the Global South, Li said. WAIC is an annual government-sponsored event in Shanghai that typically attracts major industry players, government officials, researchers and investors. Tesla CEO Elon Musk, who has in past years regularly appeared at the opening ceremony both in-person and via video, did not speak this year. Besides forums, the conference also features exhibitions where companies demonstrate their latest innovations. This year, more than 800 companies are participating, showcasing more than 3,000 high-tech products, 40 large language models, 50 AI-powered devices and 60 intelligent robots, according to organizers. The exhibition features predominantly Chinese companies, including tech giants Huawei and Alibaba and startups such as humanoid robot maker Unitree. Western participants include Tesla, Alphabet and Amazon. —Reuters
