
Eric Trump to headline Bitcoin Asia 2025 conference in Hong Kong
Trump would discuss bitcoin's 'long-term potential' and its impact on global finance, as well as 'how Asia is shaping the future of bitcoin adoption,' said BTC Inc, the conference organiser, on Tuesday.
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Barnama
20 minutes ago
- Barnama
Trump Threatens 100 Per Cent Tariffs On Russia Without Ukraine Deal In 50 Days
US President Donald Trump meets with NATO Secretary General Mark Rutte, where Trump announces a deal to send US weapons to Ukraine through NATO, in the Oval Office at the White House in Washington, DC, US, July 14, 2025. REUTERS/Nathan Howard WASHINGTON, July 15 (Bernama-Anadolu) -- US President Donald Trump on Monday threatened to impose 100 per cent secondary tariffs on Russia if a deal on ending the war in Ukraine is not reached within 50 days, Anadolu Ajansi reported. Speaking during a meeting with NATO Secretary General Mark Rutte at the Oval Office, Trump said he was 'very unhappy' with Russia and disappointed in President Vladimir Putin. 'I thought we would have had a deal two months ago, but it doesn't seem to get there,' Trump said. bootstrap slideshow 'So, based on that, we're going to be doing secondary tariffs. If we don't have a deal in 50 days, it's very simple – and they'll be 100%.' Calling the Ukraine war, which started in February 2022, former President Joe 'Biden's war,' Trump said: 'I would like to see it end. It wasn't my war ... I'm trying to get you out of it.' He also announced that the US would supply Ukraine with weapons through NATO, but added that European allies would cover the full cost. 'We made a deal today … We are going to be sending them weapons that they are going to be paying for. The United States will not be having any payment made. We're not buying it, but we will manufacture it, and they're going to be paying for it,' he said. Rutte confirmed the arrangement, saying: 'The US has decided to indeed massively supply Ukraine with what is necessary through NATO. Europeans (are) 100% paying for that.' Trump also confirmed that US Patriot missile systems would be delivered to Ukraine 'within days.'


New Straits Times
32 minutes ago
- New Straits Times
China set to post second quarter growth buoyed by trade war truce
BEIJING: China will post on Tuesday second quarter growth figures, with analysts expecting strong exports to have buoyed the world's second largest economy despite trade war pressures. China's leadership is fighting a multi-front battle to sustain growth, a challenge made more difficult by the US president's tariff campaign. US President Donald Trump has imposed levies on China and most other major trading partners since returning to office in January, threatening Beijing's exports just as it becomes more reliant on them to stimulate economic activity. Washington and Beijing have sought to de-escalate their trade spat after reaching a framework for a deal at talks in London last month, but observers warn of lingering uncertainty. Trump on Monday upped the ante, warning Russia's trading partners that he will impose "very severe" tariffs reaching 100 per cent if Moscow fails to end its war on Ukraine within 50 days. Western nations have repeatedly urged China – a key commercial ally of Russia – to wield its influence and get Vladimir Putin to stop his three-year-old invasion of Ukraine. Official data on Tuesday will show how China's overall economy fared during the April-June period as leaders worked to shield the country from external pressures while encouraging consumers to spend. An AFP survey of analysts forecast a 5.2 per cent expansion of gross domestic product in the second quarter compared with last year – above an official target of around five per cent set for the whole year. Fuelling optimism, data from the General Administration of Customs showed on Monday exports rising much more than expected in June, helped by the US-China trade truce. Imports also rose 1.1 percent, higher the 0.3 per cent gain predicted and marking the first growth this year. Customs official Wang Lingjun told a news conference on Monday that Beijing hoped "the US will continue to work together with China towards the same direction", state broadcaster CCTV reported. The tariff truce was "hard won", Wang said. "There is no way out through blackmail and coercion. Dialogue and cooperation are the right path," he added. But many analysts are anticipating slower growth in the next six months of the year, with persistently sluggish domestic demand proving a key drag. Data released last week showed that consumer prices edged up in June, barely snapping a four-month deflationary dip, but factory gate prices dropped at their fastest clip in nearly two years. The producer price index, which measures the price of wholesale goods as they leave the factory, declined 3.6 per cent year-on-year last month, extending a years-long negative run. Economists argue that China needs to shift towards a growth model propelled more by domestic consumption than the traditional key drivers of infrastructure investment, manufacturing and exports. Beijing has introduced a slew of measures since last year in a bid to boost spending, including a consumer goods trade-in subsidy scheme that briefly lifted retail activity.

The Star
36 minutes ago
- The Star
Wall Street ends with modest gains as investors await earnings, economic data
A street sign for Wall Street is seen outside the New York Stock Exchange in Manhattan, New York City WALL Street stocks closed marginally up on Monday as investors sidestepped any meaningful moves following U.S. President Donald Trump's latest tariff threats, and held steady ahead of a busy week of economic data and the start of earnings season. Trump ramped up trade tensions over the weekend, vowing to slap a 30% tariff on most imports from the European Union and Mexico starting August 1 - leaving the clock ticking for last-minute trade deals. The EU extended its pause on retaliatory measures until early August, holding out hope for a negotiated truce. The White House said talks with the EU, Canada and Mexico are still underway. Despite the headlines, investor reaction was muted, having grown numb to Trump's barrage of tariff threats and his frequent last-minute U-turns. The Dow Jones Industrial Average rose 88.14 points, or 0.20%, to 44,459.65, the S&P 500 gained 8.81 points, or 0.14%, at 6,268.56 and the Nasdaq Composite advanced 54.80 points, or 0.27%, to 20,640.33. Trading volume was also subdued, with 15.43 billion shares changing hands, compared with the 17.62 billion average for the last 20 trading days. Markets have been buoyant in recent weeks even as Trump has rattled his tariff saber. The Nasdaq Composite ended at a record high, its seventh such achievement since June 27. The S&P 500, which finished a dozen points below last Thursday's best ever close, has had five records in the same timeframe. "If anything is holding the market back, it's the fact we've had a pretty good run since April," said Jason Pride, chief of investment strategy & research at Glenmede. He noted that despite initial fears that Trump's tariff policy would hurt the U.S. economy, the levies unveiled so far and the passage of his signature economic legislation last week will broadly offset each other, meaning investors are starting to be more confident about the economy's growth prospects. Signs of how Trump's policies are playing out will come this week, with a raft of new reports on the state of the U.S. economy due up. Second-quarter earnings season kicks off on Tuesday, when several Wall Street banking heavyweights are set to report. Tuesday is also the scheduled release of the latest consumer price data, which is expected to reveal an inflation uptick in June as sellers started passing on the cost of sweeping tariffs. Wednesday's producer and import price reports will offer fresh insight into how supply chain pressures are shaping up. One place where Trump's tariff rhetoric still moved markets was crude prices, with U.S. benchmark oil dropping 2.2% after he threatened levies on buyers of Russian exports, which may have knock-on effects on global energy supplies. This pushed the energy index down 1.2%, the biggest decliner among the 11 S&P sectors. A majority of the sectors closed in positive territory though, led by the 0.7% advance by communication services . It was helped by gains in Netflix, which reports earnings on Thursday, and Warner Bros. Discovery , whose latest Superman caper had a strong opening weekend at the box office. Crypto stocks ticked up after Bitcoin topped $120,000 for the first time. Coinbase rose 1.8%, and MicroStrategy gained 3.8%. Waters Corp dropped 13.8% after the lab equipment maker agreed to merge with rival Becton, Dickinson and Company's Biosciences & Diagnostic Solutions unit in a $17.5 billion deal. - Reuters