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Bloomberg
7 minutes ago
- Bloomberg
Trump, Starmer to Discuss Trade Deal, Gaza Situation
US President Donald Trump and UK Prime Minister Keir Stamer are meeting in Scotland on Monday in a bid to remove the remaining obstacles to their trade deal. Starmer will travel to the president's golf course in Scotland, Trump Turnberry, and the two leaders will then travel on together for a further private engagement in Aberdeen. The humanitarian crisis in Gaza will likely be discussed, with Starmer expected to press for a lasting ceasefire. Bloomberg's Lizzy Burden reports from Scotland. (Source: Bloomberg)
Yahoo
an hour ago
- Yahoo
Thai, Cambodian Leaders Set for Peace Talks After Trump's Tariff Deal Threats
(Bloomberg) -- Thai and Cambodian leaders are set for talks Monday to halt the deadliest clash between the neighbors in more than a decade, with the US and China sending envoys after President Donald Trump used tariff threats to press for a ceasefire. The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy Thailand's acting Prime Minister Phumtham Wechayachai and Cambodian Prime Minister Hun Manet are scheduled to meet in Kuala Lumpur at 3 p.m. local time, according to Thai government spokesman Jirayu Houngsub. The gathering will be at the office of Malaysian Prime Minister Anwar Ibrahim, who's facilitating the dialogue in his role as the chair of the Association of Southeast Asian Nations. The first talks since clashes began on July 24 come within 48 hours of Trump saying Thai and Cambodian leaders had agreed to 'quickly work out a ceasefire.' After separate calls with Phumtham and Hun Manet on Saturday, Trump had threatened that Washington would not do a trade deal with either as long as the fighting continued. Before departing for the talks, Phumtham questioned Cambodia's commitment as clashes continued into early Monday. The discussions will focus on ending the hostilities and maintaining Thailand's sovereignty, he told reporters. 'After everything that has happened, we don't trust that they have sincerity and determination to solve the problems,' Phumtham said. 'Today's discussions will be focused on ensuring safety for all civilians and stopping aggression into our territory.' The Thai army reported fighting at multiple locations along the border. Cambodia's defense ministry said Thai forces used heavy shelling at two locations from around 3 a.m., the Khmer Times reported, citing a spokesperson. Secretary of State Marco Rubio said US officials are on the ground in Malaysia 'to assist these peace efforts.' China, the top trading partner for both Southeast Asian nations and a major backer of Phnom Penh, is due to participate in the talks, officials from Cambodia said. 'Both President Trump and I remain engaged with our respective counterparts for each country and are monitoring the situation very closely,' Rubio said in a statement. 'We want this conflict to end as soon as possible.' Trump's tariff threat set off a series activities on Sunday with Anwar getting the two sides to agree to meet. Rubio also spoke to the foreign ministers of Thailand and Cambodia and urged them to immediately de-escalate tensions. Speaking to reporters just before meeting with European Commission President Ursula von der Leyen on Sunday, Trump acknowledged the phone calls with the two leaders. 'I called the prime ministers of each and I said, 'We're not going to make a trade deal unless you settle the war.' A lot of people killed,' Trump said. 'And I think by the time I got off, I think they want to settle now.' With Trump's Aug. 1 tariff deadline looming, trade-reliant Thailand wants to avoid antagonizing the US president, especially as its officials have been holding talks to lower the steep 36% planned levy on its exports. Trump has claimed credit for helping halt border clashes earlier this year between India and Pakistan by leveraging trade measures. It's an assertion India has consistently denied but Pakistan has embraced. 'When all is done, and Peace is at hand, I look forward to concluding our Trading Agreements with both!,' Trump said on Truth Social after speaking to Thai and Cambodian leaders Saturday. Thailand's trade talks with the US have included offering expanded access for American goods to narrow a $46 billion trade surplus. Neighboring Indonesia, the Philippines, and Vietnam have already secured trade deals with the US in recent weeks. Thailand and Cambodia shouldn't have needed the pressure from Trump, and should have turned to Asean as a natural middle ground to mediate the conflict well before US intervention, said Fuadi Pitsuwan, a lecturer in international relations at Thammasat University in Bangkok. 'In the end, Trump will likely frame the situation as a win: he enforced a ceasefire while securing leverage' to impose punitive tariff rates, he said. Despite the economic stakes, Thailand has taken a firm stance ahead of Monday's talks. Officials say any ceasefire must be tied to bilateral resolution of the dispute, the withdrawal of troops, and a halt to the use of lethal weapons. Cambodia, by contrast, has said it is open to an unconditional cessation of hostilities. The talks are 'intended to listen to all proposals that could contribute to restoring peace,' spokesman Jirayu said. 'The Thai government remains committed to defending the nation's sovereignty and territorial integrity. Every square inch of it.' The conflict, which escalated from months of simmering border tension, has killed more than 30 people and displaced over 150,000 civilians on both sides. Thailand has reported 22 fatalities, including eight soldiers, while Cambodia has confirmed 13 deaths, including five military personnel. Heavy artillery fire continued Sunday across their 800-kilometer (500-mile) border, with both sides accusing each other of targeting civilians. Thailand has responded by deploying F-16s and Swedish-made Gripen fighter jets to strike Cambodian military positions. Thailand and Cambodia share a history of border disputes, though relations have remained largely stable since a deadly 2011 clash that left dozens dead. The last major flare-up centered on the Preah Vihear temple, a historic flashpoint rooted in colonial-era disagreements. Much of the current dispute stems from maps drawn on differing interpretations of early 20th-century Franco-Siamese treaties, which defined the border between Thailand and Cambodia, then part of French Indochina. --With assistance from Skylar Woodhouse. (Updates with comment from Thai leader in fourth paragraph. An earlier version of this story corrected a chart to show latest tariff rate for Philippines.) Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Dude! They Killed Colbert! ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Thai, Cambodian Leaders Set for Peace Talks After Trump's Tariff Deal Threats
(Bloomberg) -- Thai and Cambodian leaders are set for talks Monday to halt the deadliest clash between the neighbors in more than a decade, with the US and China sending envoys after President Donald Trump used tariff threats to press for a ceasefire. The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Trump Administration Sues NYC Over Sanctuary City Policy Thailand's acting Prime Minister Phumtham Wechayachai and Cambodian Prime Minister Hun Manet are scheduled to meet in Kuala Lumpur at 3 p.m. local time, according to Thai government spokesman Jirayu Houngsub. The gathering will be at the office of Malaysian Prime Minister Anwar Ibrahim, who's facilitating the dialogue in his role as the chair of the Association of Southeast Asian Nations. The first talks since clashes began on July 24 come within 48 hours of Trump saying Thai and Cambodian leaders had agreed to 'quickly work out a ceasefire.' After separate calls with Phumtham and Hun Manet on Saturday, Trump had threatened that Washington would not do a trade deal with either as long as the fighting continued. Before departing for the talks, Phumtham questioned Cambodia's commitment as clashes continued into early Monday. The discussions will focus on ending the hostilities and maintaining Thailand's sovereignty, he told reporters. 'After everything that has happened, we don't trust that they have sincerity and determination to solve the problems,' Phumtham said. 'Today's discussions will be focused on ensuring safety for all civilians and stopping aggression into our territory.' The Thai army reported fighting at multiple locations along the border. Cambodia's defense ministry said Thai forces used heavy shelling at two locations from around 3 a.m., the Khmer Times reported, citing a spokesperson. Secretary of State Marco Rubio said US officials are on the ground in Malaysia 'to assist these peace efforts.' China, the top trading partner for both Southeast Asian nations and a major backer of Phnom Penh, is due to participate in the talks, officials from Cambodia said. 'Both President Trump and I remain engaged with our respective counterparts for each country and are monitoring the situation very closely,' Rubio said in a statement. 'We want this conflict to end as soon as possible.' Trump's tariff threat set off a series activities on Sunday with Anwar getting the two sides to agree to meet. Rubio also spoke to the foreign ministers of Thailand and Cambodia and urged them to immediately de-escalate tensions. Speaking to reporters just before meeting with European Commission President Ursula von der Leyen on Sunday, Trump acknowledged the phone calls with the two leaders. 'I called the prime ministers of each and I said, 'We're not going to make a trade deal unless you settle the war.' A lot of people killed,' Trump said. 'And I think by the time I got off, I think they want to settle now.' With Trump's Aug. 1 tariff deadline looming, trade-reliant Thailand wants to avoid antagonizing the US president, especially as its officials have been holding talks to lower the steep 36% planned levy on its exports. Trump has claimed credit for helping halt border clashes earlier this year between India and Pakistan by leveraging trade measures. It's an assertion India has consistently denied but Pakistan has embraced. 'When all is done, and Peace is at hand, I look forward to concluding our Trading Agreements with both!,' Trump said on Truth Social after speaking to Thai and Cambodian leaders Saturday. Thailand's trade talks with the US have included offering expanded access for American goods to narrow a $46 billion trade surplus. Neighboring Indonesia, the Philippines, and Vietnam have already secured trade deals with the US in recent weeks. Thailand and Cambodia shouldn't have needed the pressure from Trump, and should have turned to Asean as a natural middle ground to mediate the conflict well before US intervention, said Fuadi Pitsuwan, a lecturer in international relations at Thammasat University in Bangkok. 'In the end, Trump will likely frame the situation as a win: he enforced a ceasefire while securing leverage' to impose punitive tariff rates, he said. Despite the economic stakes, Thailand has taken a firm stance ahead of Monday's talks. Officials say any ceasefire must be tied to bilateral resolution of the dispute, the withdrawal of troops, and a halt to the use of lethal weapons. Cambodia, by contrast, has said it is open to an unconditional cessation of hostilities. The talks are 'intended to listen to all proposals that could contribute to restoring peace,' spokesman Jirayu said. 'The Thai government remains committed to defending the nation's sovereignty and territorial integrity. Every square inch of it.' The conflict, which escalated from months of simmering border tension, has killed more than 30 people and displaced over 150,000 civilians on both sides. Thailand has reported 22 fatalities, including eight soldiers, while Cambodia has confirmed 13 deaths, including five military personnel. Heavy artillery fire continued Sunday across their 800-kilometer (500-mile) border, with both sides accusing each other of targeting civilians. Thailand has responded by deploying F-16s and Swedish-made Gripen fighter jets to strike Cambodian military positions. Thailand and Cambodia share a history of border disputes, though relations have remained largely stable since a deadly 2011 clash that left dozens dead. The last major flare-up centered on the Preah Vihear temple, a historic flashpoint rooted in colonial-era disagreements. Much of the current dispute stems from maps drawn on differing interpretations of early 20th-century Franco-Siamese treaties, which defined the border between Thailand and Cambodia, then part of French Indochina. --With assistance from Skylar Woodhouse. (Updates with comment from Thai leader in fourth paragraph. An earlier version of this story corrected a chart to show latest tariff rate for Philippines.) Burning Man Is Burning Through Cash It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme Elon Musk's Empire Is Creaking Under the Strain of Elon Musk Dude! They Killed Colbert! ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
