Food prices push up Japan CPI ahead of Upper House election
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NHK
44 minutes ago
- NHK
Thailand, Cambodia welcome trade deals with US
US President Donald Trump has signed an executive order setting updated tariffs of 19 percent for Thailand and Cambodia -- down from the 36 percent initially proposed. Cambodian Prime Minister Hun Manet welcomed the move, writing on Facebook that it is "great news" for his country's economy and people. He thanked Trump for helping to secure a better deal. Thai Finance Minister Pichai Chunhavajira also praised the decision, posting on X that the new rate "reflects the strong friendship and close partnership" between Bangkok and Washington and helps keep Thailand competitive globally. The announcement came as tensions eased between Thailand and Cambodia. The two countries had clashed in late July over a disputed border region. Trump used the tariff deal as leverage, warning he wouldn't go ahead with any agreement unless both sides halted the fighting. On Monday, the two neighbors agreed to an immediate and unconditional ceasefire. Meanwhile, Thailand is considering boosting imports of US pork and beef as part of trade talks with Washington. But that's raising alarm among local livestock farmers. Thailand has many small, family-run farms. In contrast, the US pork industry relies on large-scale, highly efficient production. Thai pig farmer Worawut Siripun worries cheap US pork could flood the market, triggering fierce price competition. He said: "Pork is a price-sensitive commodity. Even a small oversupply could cause prices to fall -- or even crash. It wouldn't just affect pig farmers, but also those who grow feed for livestock." In April, cattle farmers rallied in Bangkok to oppose the plan. They say if the government doesn't protect local producers, the cattle industry could be wiped out.
Yomiuri Shimbun
4 hours ago
- Yomiuri Shimbun
Japan, Brazil to Cohost Meeting on Sustainable Fuel; Intl Adoption of Hydrogen, Biofuel to Be Promoted
The Economy, Trade and Industry Ministry and other entities plans to establish a 'sustainable fuel ministerial meeting' to discuss the expansion of the use of fuels such as hydrogen with other countries, and to hold its first meeting in Osaka in September, according to government sources. At the meeting, members are also expected to discuss solutions to issues, such as market formation and reducing production costs, that need to be addressed for the widespread use of sustainable fuels. Sustainable fuels, also called carbon-neutral fuels, have significantly lower impact than conventional fuels. Hydrogen, for example, does not emit CO2 when burned. Also, CO2 recovered from factories can be combined with hydrogen to make synthetic fuels, resulting in virtually zero emissions. According to research firm Fuji Keizai Co., the global market for such fuels in 2022 was ¥29.9 trillion. The government is making final preparations to cohost the first meeting on Sept. 15 with Brazil. Osaka has been chosen as the venue because the 2025 Osaka-Kansai Expo is being held in the city and it would be easy to share companies' decarbonization efforts with other countries. Twenty to 30 countries are expected to participate in the meeting. Those invited include Germany and South Korea, which are actively promoting the use of hydrogen. In addition to hydrogen and synthetic fuels, sustainable fuels also include biofuels derived from plants. Japan has advanced technology in the utilization of hydrogen energy, such as fuel cell vehicles that use hydrogen as fuel and do not emit CO2. Japan aims to strengthen its efforts to promote hydrogen energy to other countries through collaboration with Brazil, a major producer of biofuels. Aiming to promote hydrogen, which is considered the 'front-runner' for next-generation clean energy, the government has been holding a 'Hydrogen Energy Ministerial Meeting' since 2018. This year, in conjunction with the sustainable fuels ministerial meeting, it plans to hold the hydrogen meeting on Sept. 15 in Osaka. However, due to global inflation and rising interest rates, costs are rising, and related projects are being suspended or postponed. The new meeting will be established to share strategies for utilizing hydrogen, including sustainable fuels, and to stimulate demand for them.
NHK
4 hours ago
- NHK
Yale University report: US tariff rate highest in 92 years
Researchers at Yale University have been crunching numbers on US President Donald Trump's trade policies and counter measures from abroad. They say US consumers now face the highest average tariff rate in 92 years. The Budget Lab, a policy research center, calculated the effects of all the tariffs implemented this year through Wednesday. That's before Trump signed the executive orders the following day. It says US consumers are paying an overall average effective tariff rate of 18.4 percent -- up sharply from 2.4 percent before President Trump's inauguration for his second term in January. The lab says the short-term inflation rate has risen by 1.8 percent due to the tariff measures. That's equivalent to an average income loss of about 2,400 dollars per household this year.
