China Increases Southeast Asia Development Spend
SBS Indonesian
22/07/2025 05:08 Indonesian The regional superpower favouring market-rate loans for infrastructure projects, with rail ventures in Indonesia and Malaysia accounting for most of the annual increase. Meanwhile the US cutting its aid spend by more than 80 per cent this year, and the UK planning to redirect billions in foreign assistance towards its defence budget. Listen to SBS Indonesian every Monday, Wednesday, Friday and Sunday at 3pm. Follow us on Facebook and Instagram , and don't miss our podcasts .
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ABC News
38 minutes ago
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Donald Trump says he wants to stop Vladimir Putin's 'war machine' but his sanctions–tariffs combo could backfire
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Measures designed to hurt Russia's finances that have been in place for years will effectively be expanded to include those who line the Kremlin's pockets. India and China have already been singled out for what's known as secondary sanctions. Combined with new tariffs, like those announced on Wednesday, the US could end up being the one that pays the price. Russia has already been subjected to a multitude of penalties imposed by Western governments, including Australia, and their allies, before and after its full-scale invasion of Ukraine. Moscow's banks are blocked from accessing global financial markets. Oligarchs' assets abroad are frozen. Many countries have shunned trade. All this was designed to stop Putin's ability to fund his military. And yet, more than three years later, it continues to fight. It's become clear that ending the war will take something more. That's where the US president's new plan comes in. 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ABC News
2 hours ago
- ABC News
PBS wait times a more urgent issue than Donald Trump's potential pharmaceutical tariffs, peak medicines body warns
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ABC News
6 hours ago
- ABC News
Donald Trump imposes an additional 25 per cent tariff on Indian goods over Russian oil imports
Donald Trump has imposed an additional 25 per cent tariff on Indian imports as a punishment for the country importing Russian oil, which is a key revenue maker for Moscow's war in Ukraine. The tariff is set to take effect in three weeks and would be added on top of a separate 25 per cent tariff entering into force on Thursday. It maintains exemptions for items targeted by separate sector-specific duties, such as steel and aluminium, and categories that could be hit like pharmaceuticals. The White House said Mr Trump signed an executive order implementing the move on Wednesday, US time. India is yet to comment on the move. It previously described Mr Trump's threats to impose the additional levy as unjustified. Relations between Washington and New Delhi have deteriorated in recent weeks, with a trade agreement yet to be signed between the two countries. India has become a major buyer of Russian oil, providing a much-needed export market for Moscow after it was cut off from traditional buyers in Europe because of the war. The reshaping of energy ties has saved India billions of dollars while bolstering Moscow's coffers. India argued it "began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict". ABC/wires
