No theory ruled out: India vows thorough probe into Air India plane crash
NEW DELHI, June 14 — India's government will look into all possible theories of what could have caused the Air India plane crash this week which killed more than 270 people, the country's aviation minister Rammohan Naidu said today. — Reuters
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Malay Mail
2 hours ago
- Malay Mail
PM Anwar says SST stays, GST off table till economy and wages rise
LUMUT, June 15 — The government is not ready to reintroduce the Goods and Services Tax (GST) as it would affect all segments of society, particularly the poor, said Datuk Seri Anwar Ibrahim. The Prime Minister said GST is a broad-based tax that would be applied uniformly to all consumers, regardless of income, including fishermen, smallholders, or street cleaners. 'GST taxes everybody. While it is efficient and straightforward, just six per cent across the board, I must ask, if everyone has to pay six per cent, why should the poor and the unemployed be taxed as well?' he said when closing the Perak Madani Rakyat Programme (PMR) 2025 here today. Anwar said that although the opposition has suggested GST as a better option, the government has chosen to postpone its implementation to avoid burdening the people, who are still struggling with the rising cost of living. 'That's why we say we're not ready for GST. If, one day, the economy improves and the minimum wage reaches RM4,000 or more, then by all means, implement GST. But for now, I'm calling for it to be postponed, don't turn it into a political issue,' he said. Anwar said the government is retaining the Sales and Services Tax (SST), which is more targeted in nature, particularly on imported luxury items such as avocados and cod, products typically consumed by high-income earners. 'Local bananas are not taxed, but expensive imported fruits like avocados, usually consumed by those in the high-income group, should come with a slightly higher price. The same goes for cod, which is also imported and costly, so we tax it,' he said. As such, he emphasised that the tax revenue collected from these imported and high-end goods could be used to develop infrastructure that benefits the people, such as hospitals, schools, and the national defence system. However, Anwar said the tax revenue collected by the government is not solely meant to cover the country's operating expenditure, but also to fund various development and welfare initiatives that directly benefit the people. According to the Prime Minister, although there are weaknesses in the SST system, the government remains open to reviewing and enhancing it comprehensively in the nation's best interest. — Bernama
Malay Mail
3 hours ago
- Malay Mail
Sources: US-China trade truce shaky as military-use rare earth export dispute remains unresolved
China withholding export of certain military-use rare earth materials China negotiators in London appeared to link rare earths export to US AI chip curbs Trump administration faces challenges due to China's rare earths control US signalled possible extension to current tariffs beyond August 10 deadline, sources say BEIJING, June 15 — The renewed US-China trade truce struck in London left a key area of export restrictions tied to national security untouched, an unresolved conflict that threatens a more comprehensive deal, two people briefed on detailed outcomes of the talks told Reuters. Beijing has not committed to grant export clearance for some specialised rare-earth magnets that US military suppliers need for fighter jets and missile systems, the people said. The United States maintains export curbs on China's purchases of advanced artificial intelligence chips out of concern that they also have military applications. At talks in London last week, China's negotiators appeared to link progress in lifting export controls on military-use rare earth magnets with the longstanding US curbs on exports of the most advanced AI chips to China. That marked a new twist in trade talks that began with opioid trafficking, tariff rates and China's trade surplus, but have since shifted to focus on export controls. In addition, US officials also signalled they are looking to extend existing tariffs on China for a further 90 days beyond the August 10 deadline agreed in Geneva last month, both sources said, suggesting a more permanent trade deal between the world's two largest economies is unlikely before then. The two people who spoke to Reuters about the London talks requested not to be named because both sides have tightly controlled disclosure. The White House, State Department and Department of Commerce did not immediately respond to requests for comment. China's Foreign and Commerce ministries did not respond to faxed requests for comment. President Donald Trump said on Wednesday the handshake deal reached in London between American and Chinese negotiators was a 'great deal,' adding, 'we have everything we need, and we're going to do very well with it. And hopefully they are too.' And US Treasury Secretary Scott Bessent said there would be no 'quid pro quo' on easing curbs on exports of AI chips to China in exchange for access to rare earths. China chokehold But China's chokehold on the rare earth magnets needed for weapons systems remains a potential flashpoint. China dominates global production of rare earths and holds a virtual monopoly on refining and processing. A deal reached in Geneva last month to reduce bilateral tariffs from crushing triple-digit levels had faltered over Beijing's restrictions on critical minerals exports that took shape in April. That prompted the Trump administration to respond with export controls preventing shipments of semiconductor design software, jet engines for Chinese-made planes and other goods to China. At the London talks, China promised to fast-track approval of rare-earth export applications from non-military US manufacturers out of the tens of thousands currently pending, one of the sources said. Those licenses will have a six-month term. Beijing also offered to set up a 'green channel' for expediting license approvals from trusted US companies. Initial signals were positive, with Chinese rare-earths magnet producer JL MAG Rare-Earth, saying on Wednesday it had obtained export licences that included the United States, while China's Commerce Ministry confirmed it had approved some 'compliant applications' for export licences. But China has not budged on specialised rare earths, including samarium, which are needed for military applications and are outside the fast-track agreed in London, the two people said. Automakers and other manufacturers largely need other rare earth magnets, including dysprosium and terbium. Big issues remain The rushed trade meeting in London followed a call last week between Trump and Chinese leader Xi Jinping. Trump said US tariffs would be set at 55 per cent for China, while China had agreed to 10 per cent from the United States. Trump initially imposed tariffs on China as punishment for its massive trade surplus to the United States and over what he says is Beijing's failure to stem the flow of the powerful opioid fentanyl into the US Chinese analysts are pessimistic about the likelihood of further breakthroughs before the August 10 deadline agreed in Geneva. 'Temporary mutual accommodation of some concerns is possible but the fundamental issue of the trade imbalance cannot be resolved within this timeframe, and possibly during Trump's remaining term,' said Liu Weidong, a US-China expert at the Institute of American Studies, Chinese Academy of Social Sciences. An extension of the August deadline could allow the Trump administration more time to establish an alternative legal claim for setting higher tariffs on China under the Section 301 authority of the USTR in case Trump loses the ongoing legal challenge to the tariffs in US court, one of the people with knowledge of the London talks said. The unresolved issues underscore the difficulty the Trump administration faces in pushing its trade agenda with China because of Beijing's control of rare earths and its willingness to use that as leverage with Washington, said Ryan Hass, director of the John L. Thornton China Center at the Brookings Institution. 'It has taken the Trump team a few punches in the nose to recognise that they will no longer be able to secure another trade agreement with China that disproportionately addresses Trump's priorities,' Hass said. — Reuters
Free Malaysia Today
3 hours ago
- Free Malaysia Today
No GST for now, it would burden the poor, says Anwar
Prime Minister Anwar Ibrahim warned the people not to turn the goods and services tax into a political issue. (Bernama pic) PETALING JAYA : The government is not ready to reintroduce the goods and services tax (GST), says Prime Minister Anwar Ibrahim. He said GST is a broad-based tax that would affect all segments of society, particularly the poor, Bernama reported. Anwar said GST is applied uniformly to all consumers, regardless of income, including fishermen, smallholders and street cleaners, 'GST taxes everybody. It is efficient and straightforward, just 6% across the board. 'But why should the poor and the unemployed be taxed as well?' he said when closing the Perak Madani Rakyat Programme 2025 in Lumut today. Anwar said although the opposition had suggested GST as a better option, the government had chosen to postpone its implementation to avoid burdening the people, who are still struggling with the rising cost of living. 'That's why we say we're not ready for GST. 'If, one day, the economy improves and the minimum wage reaches RM4,000 or more, then by all means, implement GST. 'But for now, I'm calling for it to be postponed. Don't turn it into a political issue,' he said.
