US-China trade talks: Negotiators hold second day of talks in Stockholm to extend trade truce
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Straits Times
10 hours ago
- Straits Times
Arsenal have ‘belief' to end trophy drought, says Mikel Arteta
Sign up now: Get ST's newsletters delivered to your inbox Arsenal manager Mikel Arteta has not won a trophy since lifting the FA Cup in his debut season in charge in 2019-20. LONDON – Arsenal manager Mikel Arteta said the Gunners believe this season will be different as they aim to get over a series of near misses at winning silverware. Arteta has not won a trophy since lifting the FA Cup in his debut season in charge in 2019-20. However, he has transformed Arsenal back into serial contenders for major trophies. His team have finished second in the Premier League for the past three years and reached the Champions League semi-finals for the first time since 2009 last season. The pressure is now on the Spaniard to get over the line after another major investment in new players in the transfer window. Nearly £200 million was spent on new striker Viktor Gyokeres, midfielders Martin Zubimendi and Christian Norgaard, centre-back Cristhian Mosquera, winger Noni Madueke and goalkeeper Kepa Arrizabalaga. 'We know what our targets are and what we want to achieve this season – there is a big belief in our ability to achieve that,' Arteta said on Aug 6. 'We have been very, very close the last few seasons and the whole team is going to determine whether we achieve that or not. But at the same time, we have to make sure that we don't lose sight of what we have to do on a daily basis to get to the levels that we want. Top stories Swipe. Select. Stay informed. Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds Singapore PUB investigating waste water discharge in Eunos: Pritam World Trump eyes 100% chips tariff, but 0% for US investors like Apple Business DBS shares hit record-high after Q2 profit beats forecast on strong wealth fees, trading income Business UOB Q2 profit drops 6% to $1.34 billion, missing forecast Singapore ST and Uniqlo launch design contest for Singapore stories T-shirt collection World White House says Trump open to meeting Russia's Putin and Ukraine's Zelensky Singapore MRT track issue causes 5-hour delay; Jeffrey Siow says 'we can and will do better' 'We have to set the demands that we want within this goal, because that's the most important thing – the internal demands have to always exceed any external demand. That is what we are trying to achieve.' Arteta added that he wants his players to feel 'invincible' at home thanks to a special connection with the club's fans. 'We want our people to start connecting with our players straight away, to start to build momentum and to start to feel that at home we are invincible,' he said. 'That we play with such passion, energy and connection with our people, that we are going to win the game.' Arsenal begin their Premier League campaign with a blockbuster trip to Manchester United on Aug 17. In other news, Alexander Isak's future at Newcastle hangs in the balance after the Swedish striker was reportedly told to train apart from the rest of the squad on Aug 6. The 25-year-old has been linked with a British transfer record move to Liverpool after failing to feature in Newcastle's pre-season preparations. He missed the Magpies' trip to Singapore and South Korea, citing a minor thigh injury, and instead flew to Spain to train at former club Real Sociedad. He has since returned to Tyneside but Sky Sports reported that he was instructed to train after the rest of the squad had departed on Aug 6. 'You have to earn the right to train with us. We will make sure that any player earns the right to train with the group. No player can expect to act poorly and train with the group as normal,' said manager Eddie Howe earlier in pre-season. Liverpool have seen a £110 million bid for Isak rejected, according to reports, with Newcastle seeking closer to £150 million. AFP
AsiaOne
11 hours ago
- AsiaOne
Trump imposes extra 25% tariff on Indian goods, ties hit new low, World News
WASHINGTON/NEW DELHI — US President Donald Trump on Wednesday (Aug 6) imposed an additional 25 per cent tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations after trade talks reached a deadlock. The new import tax, effective 21 days after Aug 7, will raise duties on some Indian exports to as high as 50 per cent — among the highest levied on any US trading partner. Trump's executive order imposing the extra tariff did not mention China, which also imports Russian oil, but later said he could announce similar further tariffs on Chinese goods. "It may happen... I can't tell you yet," Trump told reporters. "We did it with India. We're doing it probably with a couple of others. One of them could be China." Analysts said Trump's move marks the most serious downturn in US-India relations since his return to office in January. The tariffs threaten to disrupt India's access to its largest export market, where shipments totalled nearly US$87 billion (S$111.8 billion) in 2024, hitting sectors like textiles, footwear, gems and jewelry. It also marks a shift from the warm ties seen during Trump and Modi's February meeting, they said, pointing out Trump's recent remarks calling India's economy "dead", its trade barriers "obnoxious" and accusing the country of profiting from cheap Russian oil while ignoring the killings of Ukrainians in Russia's three-and-a-half-year-old invasion of its neighbour. India's external affairs ministry called the decision "extremely unfortunate," noting that many other countries are also importing Russian oil in their national economic interest. "India will take all necessary steps to protect its national interests," it said, adding that purchases were driven by market factors and the energy needs of India's 1.4 billion people. The development comes as Indian Prime Minister Narendra Modi prepares for his first visit to China in over seven years, suggesting a potential realignment in alliances as relations with Washington fray. [[nid:720858]] Oil prices edged up about one per cent on Wednesday after falling to a five-week low in the prior session after Trump penalised India for buying Russian oil and in light of a larger-than-expected US crude storage draw last week. Last week, US Treasury Secretary Scott Bessent warned China that continued Russian oil purchases could trigger new tariffs, as Washington prepares for the expiry of a US-China tariff ceasefire on Aug 12. Blow to Indian exports Trade between the United States and India — the world's biggest and fifth-largest economies respectively — is worth over US$190 billion. Exporters and trade analysts warn that the tariffs — which Trump casts as a driver to reduce US trade deficits and reinvigorate domestic manufacturing — could severely disrupt Indian exports. "This is a severe setback. Nearly 55 per cent of our shipments to the US will be affected," said S.C. Ralhan, president of the Federation of Indian Export Organisations. The increased duties place Indian exporters at a 30-35 per cent disadvantage versus trade rivals in Vietnam, Bangladesh and Japan. "With such obnoxious tariff rates, trade between the two nations would be practically dead," said Madhavi Arora, economist at Emkay Global. Indian officials acknowledged pressure to return to negotiations with the Trump administration. A phased cut in Russian oil imports and diversification could be a part of the compromise. [[nid:720967]] "We still have a window," said a senior Indian official, requesting anonymity. "The fact that the new tariffs take effect in 21 days signals the White House is open to talks." Another official said there were no immediate plans for Modi or senior leaders to travel to Washington, nor were any retaliatory measures being considered. Instead, the government is weighing relief for exporters, including interest subsidies and loan guarantees. A sharp drop in US-bound shipments could drag India's GDP growth below six per cent this year, down from the central bank's 6.5 per cent forecast, said Sakshi Gupta of HDFC Bank. India's rupee weakened in offshore non-deliverable forwards market while stock futures fell marginally after the announcement. "While markets have already started pricing in the risk of a sharp tariff hike, a near-term knee-jerk reaction is inevitable unless there's swift clarity or a breakthrough in negotiations," said Mayuresh Joshi, head of equity research for India at Willian O' Neil. Trump's move follows five rounds of inconclusive trade talks, which stalled over US demands for wider access to Indian agriculture and dairy markets. India's refusal to cut Russian oil imports — which hit a record US$52 billion last year — ultimately triggered the tariff escalation. US and Indian officials told Reuters a mix of political misjudgement, missed signals and bitterness scuttled trade deal negotiations between the world's biggest and fifth-largest economies, whose bilateral trade is worth over US$190 billion. [[nid:720877]]
Straits Times
13 hours ago
- Straits Times
Trump says he could impose more tariffs on China, similar to India duties, over Russian oil
Sign up now: Get ST's newsletters delivered to your inbox US President Donald Trump on Aug 6 said he could announce further tariffs on China similar to the 25 per cent duties announced earlier on India. WASHINGTON - US President Donald Trump on Aug 6 said he could announce further tariffs on China similar to the 25 per cent duties announced earlier on India over its purchases of Russian oil, depending on what happens. 'Could happen,' Mr Trump told reporters, after saying he expected to announce more secondary sanctions aimed at pressuring Russia to end its war in Ukraine. He gave no further details. 'It may happen ... I can't tell you yet,' Mr Trump said. 'We did it with India. We're doing it probably with a couple of others. One of them could be China.' Mr Trump on Aug 6 imposed an additional 25 per cent tariff on Indian goods, on top of a 25 per cent tariff announced previously, citing its continued purchases of Russian oil. The White House order did not mention China, which is another big purchaser of Russian oil. Last week, US Treasury Secretary Scott Bessent warned China that it could also face new tariffs if it continued buying Russian oil. REUTERS
