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Mint
an hour ago
- Mint
Trump NATO Envoy Warns China Over ‘Subsidizing' Russia's War
The US ambassador to NATO said China needed to be 'called out for their subsidizing' of Russia's war in Ukraine as the Trump administration ratchets up its threat to impose tariffs if Moscow does not agree to a peace deal. 'China thinks they're fighting a proxy war through Russia, and we're seeing in some statements by the Chinese government that they want to keep the United States and our allies occupied with this war, so that we can't focus on our other strategic challenges,' NATO ambassador Matthew Whitaker said Tuesday on Fox Business. 'China, I think, has miscalculated,' he added. 'I think they need to be called out for their subsidizing this killing that is happening on the battlefields in Ukraine.' Whitaker's comments come a week after US President Donald Trump threatened to impose tough economic penalties on Russia if it does not end its war on Ukraine within 50 days. Trump has said he would impose 100% tariffs, which officials have cast as secondary levies that would fall on countries who buy Russian exports such as oil. China's imports of Russian oil have climbed since Russian President Vladimir Putin's invasion of Ukraine in 2022. Washington and other capitals allied with Kyiv view such oil purchases as a form of tacit support for Russia, helping to bolster its economy and undercut sanctions. Russia's crude exports hit a one-month high ahead of Trump's tariff threat on buyers of Russian oil. Earlier: Russia's Crude Shipments Rebound Ahead of Trump Sanctions Threat 'The secondary sanctions are going to be significant. They're going to hit countries that are buying Russian oil, whether that's China, India or Brazil,' Whitaker said. Trump has raised the prospect of tightening economic pressure on Russia before without following through and trade analysts have said secondary tariffs would be difficult to implement. The threat also comes at a crucial time in US-Chinese relations with a tentative trade truce between the world's two largest economies set to end next month. US Treasury Secretary Scott Bessent told Fox Business on Tuesday that he would meet Chinese counterparts for talks next week in Stockholm. Bessent earlier this week said that the next round of talks between the countries could include a discussion on Chinese purchases of both Russian and Iranian oil. This article was generated from an automated news agency feed without modifications to text.
Time of India
2 hours ago
- Time of India
Gadchiroli steel hub will blunt Chinese competition with high quality ore: Fadnavis
1 2 Konsari (Gadchiroli): Chief minister Devendra Fadnavis on Tuesday, laid the foundation of Maharashtra's first mega integrated steel plant at Konsari in Gadchiroli, which will be built by Lloyds Metals and Energy Limited (LMEL) and is expected to roll out in 30 months and create 20,000 jobs. The chain of industrial developments will catapult Gadchiroli to Maharashtra's top 10 districts in per capita income within five years. With massive iron ore deposits in Gadchiroli, the emerging steel industry in the once Maoist-wracked district will stand as a competition to China, said Fadnavis. Currently, Gadchiroli is one of the two districts with lowest GDP and per capita income. The govt has also identified land for JSW Group's integrated steel plant in Gadchiroli, which is slated to be the largest in the world. Talking to TOI on the sidelines of the event, LMEL's managing director B Prabhakaran said China depends on high-grade coal and average quality iron ore. "The ore in China contains around 60% to 67% iron, whereas in Gadchiroli, the average realisation itself is at 67%. This gives a huge advantage to the domestic steel industry. With increasing use of gas instead of coal as fuel, the cost of production is expected to dip compared to the Chinese industry," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Storage running out on your Mac? Space Lens will show you why MacPaw Read More Undo The steel plant at Gadchiroli has its logistical advantages as it can easily cater to southern states. "There is a major gap between steel production and iron ore availability. Gadchiroli has a massive potential for iron ore exploitation and what LMEL has is just the tip of the iceberg. The mines with a 25 MTPA capacity are spread over 300 hectares. As much as 5,000 hectares in the district is expected to have iron ore underground. The 300 hectare mine itself attracts an investment of Rs 40,000 crore," said Prabhakaran. LMEL also issued fresh appointment letters to 1,400 persons in its existing unit, which includes a direct reduced iron (DRI) plant, mines, and a pellet-making plant. LMEL currently employs 11,000 people and this would increase to 13,000 in coming months. This is over and above the 20,000 jobs to be created by the integrated steel plant. It has set aside 10% of the promoters' share to be offered under the employee stock options programme (ESOP), which was announced on January 1. Shares worth Rs 1,400 were offered at a nominal price of Rs 4 each. Any fresh employee is eligible for ESOP after a certain period. So far, 10,600 workers have availed of ESOP, says the company, dubbing this to be a unique model in the sector. Fadnavis also inaugurated a 4 MTPA pellet plant, a slurry pipeline with a 10 MTPA capacity, and an iron ore grinding unit of 5MPPA at Hedri, 85km off the steel plant site. Majority of the employees are locals. A woman who joined as a housekeeping staff with a Rs 12,000 pay, underwent skill training and earns Rs 55,000 a month.
News18
2 hours ago
- News18
Trump says China trip is not too distant as trade tensions ease
Last Updated: Washington, Jul 23 (AP) President Donald Trump on Tuesday said a trip to China might be 'not too distant," raising prospects that the leaders of the world's two largest economies may meet soon to help reset relations after moving to climb down from a trade war. Trump made the remarks while hosting Philippine President Ferdinand Marcos Jr. at the White House, where he praised the 'fantastic military relationship" with Manila as the U.S. looks to counter China's influence in the Indo-Pacific region. Yet, Trump still said the U.S. is 'getting along with China very well. We have a very good relationship." He added that Beijing has resumed shipping to the U.S. 'record numbers" of much-needed rare earth magnets, which are used in iPhones and other high-tech products like electric vehicles. Widely speculated about since Trump returned to the White House, a summit between Trump and Chinese President Xi Jinping would be expected to stabilize — even for a short while — a difficult relationship defined by mistrust and competition. Beijing believes a leader-level summit is necessary to steady U.S.-China relations and that Trump must be wooed because he has the final say on America's policy toward China, despite more hawkish voices in his Cabinet, observers say. The question, however, is when. Danny Russel, a distinguished fellow at the Asia Society Policy Institute, said Trump has consistently shown his hunger for a visit to China and that Beijing has used that to bolster leverage. 'As soon as the leadership in Beijing is satisfied that Trump will be on his best behavior and will accept terms for a deal that they think are favorable, they will give a green light to the visit," Russel said. Sun Yun, director of the China program at the Washington-based think tank Stimson Center, said a visit 'is in the making" with two sides likely to strike a trade deal. What Trump said might mean the visit would not be in September but 'potentially November, but still depends on whether they play ball on trade and other things we want," Sun said. Trump's campaign to impose tariffs on other countries kicked off a high-stake trade war with Beijing. China raised tariffs on U.S. goods to 125% in response to Trump's hiking the tax on Chinese goods to 145%. Both sides also imposed on each other harsh trade restrictions on critical products: China on rare earths, and the U.S. on computing chips and jet engine technology. Trade tensions, however, eased following two rounds of high-level talks in Geneva and London, when the two sides agreed to lower tariffs — pending a more permanent deal by mid-August — and pull back on trade restrictions. Treasury Secretary Scott Bessent said Tuesday on Fox Business' 'Mornings with Maria" that he will be meeting with his Chinese counterparts in Stockholm next week to work on 'what is likely an extension" of the Aug. 12 deadline. 'I think trade is in a very good place with China," Bessent told host Maria Bartiromo. 'Hopefully, we can see the Chinese pull back on some of this glut of manufacturing that they're doing and concentrate on building a consumer economy." He said he also expects to bring up China's purchases of Russian and Iranian oil and Beijing's role in aiding Moscow in its war against Ukraine. Beijing has not announced any travel plans for Vice Premier He Lifeng, who led trade negotiations in both Geneva and London on behalf of the Chinese government, but it is not unusual for China to make such announcements closer to a travel date. In a possible friendly gesture, Beijing on Tuesday said it suspended an antitrust investigation into chemical maker DuPont's operations in China. China's State Administration for Market Regulation made the announcement in a one-line statement but gave no explanation for the decision. DuPont said in a statement that it is 'pleased" with China's action. Chinese regulators launched the investigation in April against DuPont China Group, a subsidiary of the chemical giant, as part of Beijing's broad, retaliatory response to Trump's sky-high tariffs. Beijing also has agreed to approve export permits for rare earth elements and rare earth magnets that U.S. manufacturers need to build cars, robots, wind turbines and other high-tech products. The U.S. has eased restrictions on some advanced chips and other technologies. (AP) AS AS (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 23, 2025, 04:15 IST News agency-feeds Trump says China trip is not too distant as trade tensions ease Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
