China Begins $167.8 Billion Brahmaputra Dam Construction In Tibet; India, Bangladesh Raise Concerns
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The Star
15 minutes ago
- The Star
China hopes for 'reciprocity' at trade talks with US in Stockholm
STOCKHOLM (AFP): Chinese and US economic officials met for talks in Stockholm on Monday, with Beijing saying it wanted to see "reciprocity" in its trade with the United States. The Swedish prime minister's office confirmed the talks, which are expected to last two days, were under way. The talks came a day after US President Donald Trump reached a deal that will see imports from the European Union taxed at 15 percent and the clock ticking down for many countries to reach deals or face high US tariffs. Beijing said on Monday it hoped the two sides could hold talks in the spirit of "mutual respect and reciprocity". Foreign ministry spokesman Guo Jiakun said Beijing sought to "enhance consensus through dialogue and communication, reduce misunderstandings, strengthen cooperation and promote the stable, healthy and sustainable development of China-US relations". For dozens of trading partners, failing to strike an agreement in the coming days means they could face significant tariff hikes on exports to the United States come Friday, August 1. The steeper rates, threatened against partners like Brazil and India, would raise the duties their products face from a "baseline" of 10 percent now to levels up to 50 percent. Tariffs imposed by the Trump administration have already effectively raised duties on US imports to levels not seen since the 1930s, according to data from The Budget Lab research centre at Yale University. For now, all eyes are on discussions between Washington and Beijing as a delegation including US Treasury Secretary Scott Bessent meets a Chinese team led by Vice Premier He Lifeng in Sweden. In Stockholm, Chinese and US flags were raised in front of Rosenbad, the seat of the Swedish government. While both countries in April imposed tariffs on each other's products that reached triple-digit levels, US duties this year have temporarily been lowered to 30 percent and China's countermeasures slashed to 10 percent. But the 90-day truce, instituted after talks in Geneva in May, is set to expire on August 12. Since the Geneva meeting, the two sides have convened in London to iron out disagreements. - China progress? - "There seems to have been a fairly significant shift in (US) administration thinking on China since particularly the London talks," said Emily Benson, head of strategy at Minerva Technology Futures. "The mood now is much more focused on what's possible to achieve, on warming relations where possible and restraining any factors that could increase tensions," she told AFP. Talks with China have not produced a deal but Benson said both countries have made progress, with certain rare earth and semiconductor flows restarting. "Secretary Bessent has also signalled that he thinks a concrete outcome will be to delay the 90-day tariff pause," she said. "That's also promising, because it indicates that something potentially more substantive is on the horizon." The South China Morning Post, citing sources on both sides, reported Sunday that Washington and Beijing are expected to extend their tariff pause by another 90 days. Trump has announced pacts so far with the European Union, Britain, Vietnam, Japan, Indonesia and the Philippines, although details have been sparse. An extension of the US-China deal to keep tariffs at reduced levels "would show that both sides see value in continuing talks", said Thibault Denamiel, a fellow at the Centre for Strategic and International Studies. US-China Business Council president Sean Stein said the market was not anticipating a detailed readout from Stockholm: "What's more important is the atmosphere coming out." "The business community is optimistic that the two presidents will meet later this year, hopefully in Beijing," he told AFP. "It's clear that on both sides, the final decision-maker is going to be the president." For others, the prospect of higher US tariffs and few details from fresh trade deals mark "a far cry from the ideal scenario", said Denamiel. But they show some progress, particularly with partners Washington has signalled are on its priority list like the EU, Japan, the Philippines and South Korea. The EU unveiled a pact with Washington on Sunday while Seoul is rushing to strike an agreement, after Japan and the Philippines already reached the outlines of deals. Breakthroughs have been patchy since Washington promised a flurry of agreements after unveiling, and then swiftly postponing, tariff hikes targeting dozens of economies in April. - AFP
New Straits Times
15 minutes ago
- New Straits Times
US senator wants Musk to block use of Starlink by financial fraud groups in Southeast Asia
WASHINGTON: A Democratic senator on Monday urged SpaceX CEO Elon Musk to block transnational criminal groups in Southeast Asia from using Starlink satellite internet service to commit fraud against Americans. Senator Maggie Hassan cited recent reports that Starlink is being used to facilitate fraud against Americans by a broad range of transnational criminal organisations operating "scam compounds" in Southeast Asia. The US Treasury Department's Financial Crimes Enforcement Network said these groups defrauded Americans out of billions of dollars, she added. "Scam networks in Myanmar, Thailand, Cambodia, and Laos, however, have apparently continued to use Starlink despite service rules permitting SpaceX to terminate access for fraudulent activity," Hassan wrote in a letter to Musk seen by Reuters. "SpaceX has a responsibility to block criminals from using the service to target Americans." SpaceX did not immediately respond to a request for comment. For years, criminal networks have trafficked hundreds of thousands of people to scam compounds across Southeast Asia, including many along the Thai–Myanmar border, where victims are forced to work in illegal online schemes, according to the United Nations. "While most people have probably noticed the increasing number of scam texts, calls, and emails they're receiving, they may not know that transnational criminals halfway across the world may be perpetrating these scams by using Starlink internet access," Hassan wrote. Since February, Thailand has halted electricity, internet, and fuel supplies to five Myanmar border areas, including Myawaddy, in a bid to disrupt the scam centres, which have become an escalating regional security concern. International pressure to shut down the scam centres intensified following the abduction of Chinese actor Wang Xing, who was kidnapped after arriving in Thailand in January. He was later rescued by Thai police, who located him across the border in Myanmar. Criminal networks, mainly emanating from China, are known to run several of these scam centres, including those in the Myawaddy region, according to the United States Institute of Peace.
New Straits Times
15 minutes ago
- New Straits Times
Govt identifies sites with rare earth mining potential
KUALA LUMPUR: An estimated 144,220 hectares of land outside permanent forest reserves (PFR) have the potential to be developed into rare earth element (REE) mines. Acting Natural Resources and Environmental Sustainability Minister Datuk Seri Johari Abdul Ghani said this is based on a review by the Minerals and Geoscience Department (JMG). "Based on studies under the 11th Malaysia Plan, the JMG identified inferred REE resources amounting to 16.1 million metric tonnes. "However, further studies are still needed to determine the quantity of measured resources and eventually, mineable reserves. "A further review by JMG estimated approximately 144,220 hectares of land outside PFR as having potential to be developed into REE mines, subject to further assessment and relevant approvals," he said in a written parliamentary reply. He added that the REE industry must be developed across the entire value chain, encompassing upstream, midstream, and downstream levels in line with the policy framework outlined in the National Mineral Policy 3 in a responsible and sustainable manner. He said to ensure REE mining operations are conducted safely, sustainably, and responsibly, JMG, as the main technical agency will regulate mining activities through the enforcement of the Mineral Development Act 1994, including pollution control and operational safety monitoring on a periodic basis. "Taking Perak as a regulatory model, this oversight is further strengthened by the establishment of the Perak State REE Mining Technical Regulatory Committee, which involves collaboration from 10 technical agencies at both the federal and state levels," he said. He added that the ministry has also appointed the Forest Research Institute Malaysia (FRIM) to conduct an environmental impact assessment study on REE mining on forest ecosystems. This includes preliminary studies conducted at the REE mining project in Mukim Kenering, Perak, where REE extraction takes place on a rubber plantation. "In terms of technology, the current REE mining project in Mukim Kenering, Gerik, Perak, is being carried out using in-situ leaching (ISL) methods in collaboration with Chinese technology partners. "However, it is the ministry's policy to encourage the development of local expertise, particularly in the upstream and midstream sectors, through structured and progressive technology-sharing initiatives. "The government is committed to ensuring that the development of this industry strikes a balance between economic potential and public concerns including pollution risks, water source safety, public health, and local technological capacity," he said. Johari said the government would continue efforts through collaboration and partnerships with various stakeholders to ensure the development of Malaysia's REE industry achieves the goals of economic prosperity, societal well-being, and environmental sustainability. He was responding to Datuk Seri Wee Ka Siong (BN-Ayer Hitam) who asked the ministry's position on REE, findings of studies that led to the ministry's decision to encourage REE mining activities, and how the ministry is balancing public concerns regarding pollution risks, technological limitations, water source safety, and public health in the interest of the public.
