Thailand and Cambodia agree to ceasefire talks after Trump steps in, but border clashes persist
Trump posted on Truth Social on Saturday that he spoke to the leaders of Thailand and Cambodia and suggested he would not move forward with trade agreements with either country if the hostilities continued. He later said both sides agreed to meet to negotiate a ceasefire.
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Yahoo
14 minutes ago
- Yahoo
‘Taco Thursday': Social media users taunt Trump after he extends Mexico trade deadline
Donald Trump's pausing of higher import taxes on a wide range of Mexican products a day before they were set to start saw the president mocked on social media with the now-familiar 'TACO' taunt. The nickname TACO, short for 'Trump Always Chickens Out,' stems from the president's habit of making tariff threats, resulting in a drop in the markets, only for him to change course and see the markets rebound. Trump announced the move in a Truth Social post following a phone call with Mexican President Gloria Sheinbaum on Thursday. He said the conversation had been 'very successful in that, more and more, we are getting to know and understand each other' and suggested that the American trade relationship with Mexico is different from other countries because of the complexity of the border situation. 'We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time, namely, that Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper,' he added. The reaction from some of Trump's most fervent critics was swift, predictable, and Mexican food-themed, invoking the TACO nickname investors have bestowed on the president for his economic flip-flopping. California Governor Gavin Newsom's press team was quick to pounce after Trump's announcement hit Truth Social, writing that it was 'TACO Thursday.' Another critic, writer Paul Rudnick, posted a dual screen grab noting headlines stating that Trump had said he wouldn't extend his tariff deadlines just a day before he announced yet another extension. And a Democratic congressman, Rep. Chuy Garcia of Texas, twisted the knife a bit further, pointing out on X that consumers — not the Mexican government — pay the tariffs at issue. Another X user, added:' SHE OWNS tRUMP ...TACO THURSDAY.'
Yahoo
14 minutes ago
- Yahoo
Factbox-What are the new tariff rates Trump set on US imports from dozens of countries?
(Reuters) -U.S. President Donald Trump announced on Thursday new tariffs of up to 41% on goods imported from dozens of countries, again citing emergency powers he says he is using to shrink the country's trade deficits with many of its trade partners. Here are the new adjusted reciprocal tariff rates levied on U.S. importers that Trump announced ahead of his August 1 deadline for negotiated trade agreements, listed in alphabetical order by country of origin. Imports from some countries, like Brazil, are facing additional tariffs that stack on top of the reciprocal tariffs listed below. Afghanistan 15% Algeria 30% Angola 15% Bangladesh 20% Bolivia 15% Bosnia and Herzegovina 30% Botswana 15% Brazil 10% Brunei 25% Cambodia 19% Cameroon 15% Chad 15% Costa Rica 15% Côte d`Ivoire 15% Democratic Republic of the 15% Congo Ecuador 15% European Union 0%–15% Equatorial Guinea 15% Falkland Islands 10% Fiji 15% Ghana 15% Guyana 15% Iceland 15% India 25% Indonesia 19% Iraq 35% Israel 15% Japan 15% Jordan 15% Kazakhstan 25% Laos 40% Lesotho 15% Libya 30% Liechtenstein 15% Madagascar 15% Malawi 15% Malaysia 19% Mauritius 15% Moldova 25% Mozambique 15% Myanmar (Burma) 40% Namibia 15% Nauru 15% New Zealand 15% Nicaragua 18% Nigeria 15% North Macedonia 15% Norway 15% Pakistan 19% Papua New Guinea 15% Philippines 19% Serbia 35% South Africa 30% South Korea 15% Sri Lanka 20% Switzerland 39% Syria 41% Taiwan 20% Thailand 19% Trinidad and Tobago 15% Tunisia 25% Turkey 15% Uganda 15% United Kingdom 10% Vanuatu 15% Venezuela 15% Vietnam 20% Zambia 15% Zimbabwe 15% (Compiled by Jonathan Allen; Editing by Jamie Freed)
New York Post
15 minutes ago
- New York Post
SOS — Save Our Shipping: Trump must break China's chokehold on global trade
A high-stakes deal that would give an American company a major role in running dozens of strategically crucial global ports is now in limbo — as China aggressively demands a stake. The United States cannot let that happen. US asset manager BlackRock and its partners are vying for 43 of the world's most important shipping ports, including the two that straddle the Panama Canal. The seller is C.K. Hutchison, a major Hong Kong operator that is one of China's 'big three' port giants — and the only one not owned outright by the Chinese government. Prying these ports from China's oversight is a critical move for both US national security and the global economy. Now the Chinese Communist Party is trying to block the deal, unless its state-owned COSCO joins the buyers' group and gains veto rights over port operations. Alarmingly, all three main parties are reportedly open to letting that happen, apparently thinking that a compromised deal is better than no deal at all. But with all that's at stake, President Donald Trump should use every tool available — starting with the ongoing US-China trade talks — to push the original deal through and keep COSCO out. The 43 ports that Hutchison seeks to sell would launch a global liberation from oppressive Chinese surveillance and control. If the plan falls through — or if it's altered to add COSCO to the ownership group — China could tighten its grip on the global shipping system, by replacing a Beijing-influenced company with a Beijing-controlled one. While the media has dubbed this the 'Panama Canal deal,' it's actually much bigger. The canal, a vital artery that runs through the center of the western hemisphere, is certainly critical — but many of the other ports involved in the deal are equally so. For example, this deal would include a port inside the Malacca Strait, the only direct maritime pathway between the Indian and Pacific Oceans. It sees 90,000 ships and $3.5 trillion worth of global trade every year. Hutchison is also looking to sell five ports that it owns on both sides of the Suez Canal, the preferred maritime commercial route between the Asian and European markets. About 12% of global trade, $1 trillion a year, passes through Suez. As China's purchases of sanctioned Iranian oil draw greater US scrutiny, Hutchison's four ports on the southern side of the Strait of Hormuz are also critical. Nearly all Iranian oil must pass through the strait, along with oil and gas from Saudi Arabia, UAE, Iraq, Kuwait and Qatar. In Europe, Hutchison controls 13 ports that act as a key entry point for Chinese goods into the European Union. The original deal would reduce China's port foothold on the continent — and the geopolitical influence that comes with it. Keep up with today's most important news Stay up on the very latest with Evening Update. Thanks for signing up! Enter your email address Please provide a valid email address. By clicking above you agree to the Terms of Use and Privacy Policy. Never miss a story. Check out more newsletters Like all major commercial deals, this one is complicated. Apart from the two Panama Canal ports, BlackRock would retain 20% ownership of the remaining facilities; its partner, Europe-based Mediterranean Shipping Corp., would control 70%, with Singapore's Sovereign Wealth Fund owning the rest. Meanwhile, China's power in global shipping is massive. China produces 95% of world shipping containers and all of the refrigerated ones. Ports around the world are plugged into China's logistical software platform, LOGINK, which tracks sensitive trade, market, maritime and passenger data. Huawei's 'Smart Port' 5G telecommunication towers provide Wi-Fi — and ready surveillance capacity — at ports worldwide. A Chinese state-owned company makes more than 70% of the world's ship-to-shore cranes (and 80% of the cranes used in America) — a major risk, according to the House Homeland Security Committee, which has alleged those cranes may be engaging in covert surveillance on behalf of the CCP. Adding state-owned COSCO to ports deal would give the CCP the power to veto any attempts to replace Huawei towers, LOGINK systems, Chinese cranes or other tools that may already be spying on behalf of the state. With BlackRock's minority interest in the vast bulk of these ports, replacing a private Chinese company with a state-owned one is even worse for the United States than the status quo. Breaking China's maritime monopoly is urgent. At the same time, America's economic leverage has never been higher. As Beijing trumps up patently absurd anti-monopoly investigations to stall or scuttle the BlackRock-MSC deal, the United States should Trump right back. He must make the choice clear: Access to American markets cannot continue unless Beijing releases its maritime monopoly. Elaine Dezenski heads the Center on Economic and Financial Power at the Foundation for Defense of Democracies, where Susan Soh is a research associate.
