France welcomes release of Franco-American national held in Venezuela
PARIS - France on Monday welcomed the release of Lucas Hunter, a Franco-American national, who has been detained in Venezuela since January, the foreign ministry said in a statement on Monday.
"France applauds the efforts of the U.S State Department to secure his release," it said.
Hunter, 37, was among 10 Americans detained in Venezuela, whose release was announced by U.S Secretary of State Marco Rubio on Friday.
The release was part of a coordinated prisoner exchange, with El Salvador's government sending detained Venezuelans home in exchange for the return to the U.S. of 10 Americans held in Venezuela. REUTERS
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Straits Times
17 minutes ago
- Straits Times
US, China to launch new talks on tariff truce extension, easing path for Trump-Xi meeting
FILE PHOTO: The American and Chinese flags are photographed on the negotiating table, during a bilateral meeting between the United States and China, in Geneva, Switzerland, May 10, 2025. KEYSTONE/EDA/Martial Trezzini/Handout via REUTERS/ File Photo STOCKHOLM - Top U.S. and Chinese economic officials will resume talks in Stockholm on Monday to try to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without an agreement, global supply chains could face renewed turmoil from U.S. duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. The Stockholm talks come hot on the heels of Trump's biggest trade deal yet with the European Union on Sunday for a 15% tariff on most EU goods exports to the U.S., including autos. The bloc will also buy $750 billion worth of American energy and make $600 billion worth of U.S. investments in coming years. No similar breakthrough is expected in the U.S.-China talks but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. A U.S. Treasury spokesperson declined comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or other steps that could escalate the trade war for another 90 days. Top stories Swipe. Select. Stay informed. Singapore Not feasible for S'pore to avoid net‑zero; all options to cut energy emissions on table: Tan See Leng Singapore With regional interest in nuclear energy rising, S'pore must build capabilities too: Tan See Leng Singapore New Mandai North Crematorium, ash-scattering garden to open on Aug 15 Singapore Tanjong Katong Road sinkhole did not happen overnight: Experts Singapore Sewage shaft failure linked to sinkhole; PUB calling safety time-out on similar works islandwide Singapore Science Journals: Lessons from weird fish sold in Singapore's wet markets World US and EU clinch deal with broad 15% tariffs on EU goods to avert trade war Asia Displaced villagers at Thai-Cambodian border hope to go home as leaders set to meet for talks Trump's administration is poised to impose new sectoral tariffs that will impact China within weeks, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters on Sunday before European Commission President Ursula von der Leyen struck their tariff deal. DEEPER ISSUES Previous U.S.-China trade talks in Geneva and London in May and June focused on bringing U.S. and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include U.S. complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that U.S. national security export controls on tech goods seek to stunt Chinese growth. "Geneva and London were really just about trying to get the relationship back on track so that they could, at some point, actually negotiate about the issues which animate the disagreement between the countries in the first place," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. "I'd be surprised if there is an early harvest on some of these things but an extension of the ceasefire for another 90 days seems to be the most likely outcome," Kennedy said. U.S. Treasury Secretary Scott Bessent has already flagged a deadline extension and has said he wants China to rebalance its economy away from exports to more domestic consumption -- a decades-long goal for U.S. policymakers. Analysts say the U.S.-China negotiations are far more complex than those with other Asian countries and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on U.S. industries. TRUMP-XI MEETING? In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon on a landmark trip to China, and a new flare-up of tariffs and export controls would likely derail planning. Sun Chenghao, a fellow at Tsinghua University's Center for International Security and Strategy in Beijing, said that a Trump-Xi summit would be an opportunity for the U.S. to lower the 20% tariffs on Chinese goods related to fentanyl. In exchange, he said the Chinese side could make good on its 2020 pledge to increase purchases of U.S. farm products and other goods. "The future prospect of the heads of state summit is very beneficial to the negotiations because everyone wants to reach an agreement or pave the way in advance," Sun said. Still, China will likely request a reduction of multi-layered U.S. tariffs totaling 55% on most goods and further easing of U.S. high-tech export controls, analysts said. Beijing has argued that such purchases would help reduce the U.S. trade deficit with China, which reached $295.5 billion in 2024. REUTERS
Straits Times
an hour ago
- Straits Times
What is the status of US tariff negotiations?
Find out what's new on ST website and app. On July 27, the US struck a framework deal with the EU, imposing a 15 per cent US import tariff on most EU goods, half the threatened rate. WASHINGTON - US tariff negotiations with key trading partners have shifted into high gear as economies race to avoid steeper duties before an Aug 1 deadline. Many of these tariff hikes were part of a package first announced in April, under which dozens of economies were due to face higher levies - up from a 10 per cent level – over their trade surpluses with the United States. The twice-postponed deadline for duties to take effect is now Friday, Aug 1 . But Washington has expanded its group of targets coming up against these tariffs, while announcing agreements with the European Union, Britain, Vietnam, Japan, Indonesia and the Philippines. A deal with the European Union unveiled on July 27 sees a 15 per cent tariff imposed on European exports to the United States, down from the 30 per cent that Mr Trump earlier threatened. Where do other US trade talks stand? South Korea: Heightened pressure Seoul is racing to reach a deal with Washington, as Tokyo's success in landing an agreement has 'amped up the pressure for South Korea,' a government source told AFP. Top stories Swipe. Select. Stay informed. Singapore Not feasible for S'pore to avoid net‑zero; all options to cut energy emissions on table: Tan See Leng Singapore With regional interest in nuclear energy rising, S'pore must build capabilities too: Tan See Leng Singapore Sewage shaft failure linked to sinkhole; PUB calling safety time-out on similar works islandwide Singapore Workers used nylon rope to rescue driver of car that fell into Tanjong Katong Road sinkhole Singapore New Mandai North Crematorium, ash-scattering garden to open on Aug 15 World Three dead, several injured after train derails in Germany World US and EU clinch deal with broad 15% tariffs on EU goods to avert trade war Opinion Vaping, Kpods and teenage risk-taking: An old problem in a new world Local media reported that Seoul was preparing to propose more than US$100 billion (S$128 billion) in investment as part of a broader agreement, with expected participation by major firms such as Samsung and Hyundai Motor. The South Korean government did not confirm this. But South Korean officials have outlined proposals to deepen collaboration in sectors like shipbuilding, semiconductors and batteries. National Security Advisor Wi Sung-lak has told reporters that the two countries are in 'the final and most crucial phase of negotiations' to avert Mr Trump's proposed 25 per cent duty. India: Cautious optimism Indian Commerce Minister Piyush Goyal told Bloomberg Television on July 24 that he was optimistic his country could reach an agreement with the United States to avert Washington's 26 per cent tariff threat. Mr Goyal insisted there were not any sticking points in the US-India relationship or in trade talks, and clarified that immigration rules – including those around H-1B visas for skilled workers – had not come up in negotiations. Despite Mr Goyal's remarks, local media reported the prospects of an interim deal before Aug 1 had dimmed. Taiwan: Working hard Taiwanese Premier Cho Jung-tai said on July 24 that officials are 'working hard' on negotiations, amid worries that an unfavorable tariff level could hit the self-ruled island's economy. Vice-President Hsiao Bi-khim said Taipei's negotiating team was 'working almost 24 hours a day to achieve trade balance and Taiwan's industrial interests, and even to further deepen cooperation'. Canada, Mexico: Deal unclear Although Canada and Mexico were spared from Mr Trump's 'reciprocal' tariffs announced in April, goods from both countries entering the United States generally face a separate 25 per cent duty if they fall outside a North American trade pact. This figure stands to jump to 30 per cent for Mexico come Aug 1, while the level for Canada was set at 35 per cent. Mexican President Claudia Sheinbaum said her administration was 'doing everything' possible to avert the duties and that she would speak with Mr Trump if necessary to try to reach a pact. Mr Trump told reporters on July 25 that there was no deal with Canada so far. Brazil: Political nature Brazil is girding for a virtual trade embargo on its planes, grains and other goods if Mr Trump's threatened 50 per cent tariff on its exports takes effect on Aug 1. The United States runs a trade surplus with Latin America's biggest economy, which was not originally expected to face steeper tariffs under Mr Trump's 'reciprocal' duties plan. Mr Trump has not attempted to hide the political motivation in targeting Brazil, citing a judicial 'witch hunt' against his right-wing ally, former president Jair Bolsonaro, when he unveiled the tariff rate. The political nature of the spat makes a last-minute deal appear less likely. AFP
Straits Times
an hour ago
- Straits Times
For Trump, EU trade deal was badly needed
Find out what's new on ST website and app. Both parties agreed on July 27 to a broad-brush trade deal that sets a 15 per cent tariff on most EU goods. EDINBURGH, Scotland - For months, President Donald Trump's penchant for overhyping the speed at which he could negotiate complex trade deals has been the butt of Washington jokes. 'Ninety days ago, Donald Trump promised the world that his tariffs would lead to 90 deals in 90 days,' Senate Minority Leader Chuck Schumer, said in July, adding: 'By my count, he's about 88 trade deals short.' So on July 27, when Mr Trump announced a trade agreement with the European Union, it was not only his biggest trade deal to date, but also, politically, his most badly needed. After going months without securing deals, Mr Trump is now coming off his most productive stretch of trade negotiations, landing agreements in recent days with the Philippines, Japan and Indonesia as well as the European Union, which represents 27 countries. The deal with the European Union, at least upon first impression, seemed to give Mr Trump much of what he wanted. 'I'm very surprised how the European Union gave in to Trump's demands,' said Professor Douglas Irwin, a professor of economics at Dartmouth College. 'I thought the EU would be the most prone to retaliation. And yet, they didn't do it. They really gave in to most of what Trump wanted.' Though many details of the agreement were unclear, the European Union and the United States agreed on July 27 to a broad-brush trade deal that sets a 15 per cent tariff on most EU goods, including cars, averting what could have become a painful trade war with a bloc that is the United States' single biggest source of imports. Top stories Swipe. Select. Stay informed. Singapore Not feasible for S'pore to avoid net‑zero; all options to cut energy emissions on table: Tan See Leng Singapore With regional interest in nuclear energy rising, S'pore must build capabilities too: Tan See Leng Singapore Sewage shaft failure linked to sinkhole; PUB calling safety time-out on similar works islandwide Singapore Workers used nylon rope to rescue driver of car that fell into Tanjong Katong Road sinkhole Singapore New Mandai North Crematorium, ash-scattering garden to open on Aug 15 World Three dead, several injured after train derails in Germany World US and EU clinch deal with broad 15% tariffs on EU goods to avert trade war Asia Displaced villagers at Thai-Cambodian border hope to go home as leaders set to meet for talks The European Union also agreed to purchase US$750 billion (S$960 billion) of US energy, which Ms Ursula von der Leyen, president of the EU's executive branch, said would be spread over three years. That, she noted, is roughly the length of Mr Trump's remaining term in office. The bloc also agreed to increase its investment in the United States by more than US$600 billion. The two sides agreed to drop tariffs to zero on a range of goods including aircraft, plane parts, certain chemicals, certain generic drugs, semiconductor equipment and some agricultural products, Ms von der Leyen said. She acknowledged that the tariffs could prove tough for some European businesses, but defended the deal in light of higher tariffs Mr Trump had threatened. 'Fifteen percent is not to be underestimated, but it is the best we could get,' she said. It was a positive political development for Mr Trump on a number of fronts. Economists have mostly been sour on the idea of his sweeping tariffs, warning of dire consequences including inflation and rising unemployment. And even as many criticised the wisdom of Mr Trump's economic policies, his administration came under added fire over its struggle to negotiate deals. The agreement with the European Union, the America's largest trading partner, may tamp down some of the criticism. The agreement may also offer Mr Trump a way to divert the news cycle from his administration's handling of the Jeffrey Epstein files , a controversy that has dogged him for weeks. At a news conference on the trade deal, a reporter asked Mr Trump whether he had rushed the agreement forward in an attempt to knock the Epstein story line out of the news. 'You've got to be kidding,' a frustrated Mr Trump responded. 'That had nothing to do with it.' Trade negotiations are famously complex and time-consuming, so most analysts doubted that Mr Trump could have much success in quickly striking deals. The Peterson Institute for International Economics said in a 2016 analysis that negotiations for a single trade deal can take more than a year, with implementation taking multiple years. That did not stop the White House from issuing bold predictions. Within days of the April 2 announcement of tariffs on countries across the globe, White House officials said about 70 countries were calling to strike deals. Mr Trump's trade adviser predicted 90 agreements in 90 days. As the deals proved tougher to negotiate than advertised, Mr Trump lamented the pressure he was under. 'Everyone says, 'When, when, when are you going to sign deals?'' he said in May. At one point, he said, 'We don't have to sign deals.' The agreements Mr Trump has announced in recent days contain mostly top-line figures. They are not the detailed, complex documents that the United States has historically negotiated, which can number in the hundreds of pages. And the new deal with the European Union could still run into trouble. The Trump administration faces nearly a dozen lawsuits seeking to have its tariffs declared illegal on the grounds that Mr Trump does not have the authority to impose them without the consent of Congress. Should those suits succeed, Mr Trump would be back to square one. Mr Andrew Hale, a trade policy analyst for the conservative Heritage Foundation, cautioned against reading too much into the deal with the European Union until the text is released, and the lawsuits are resolved. 'These are not comprehensive free trade agreements,' he said. 'Let's make that very clear. And much of this may evaporate.' NYTIMES
