
China opposes excessive tariffs, says China's Wang Yi
He said this on the sidelines while heading to the Asean+3 meeting here on Thursday (July 10).
"We oppose excessive tariffs," he told reporters briefly when asked about China's stance on the tariffs imposed by the United States.
However, he did not respond when asked if he would meet United States Secretary of State Marco Rubio.
On July 9, US President Donald Trump announced a slew of tariffs, slapping Malaysia, Japan, South Korea, Tunisia and Kazakhstan at a 25% rate.
Other countries hit by US tariffs include South Africa (30%), Bosnia and Herzegovina (30%), Indonesia (32%), Serbia (35%), Bangladesh (35%), Cambodia (36%) and Thailand (36%) and 40% on Laos and Myanmar.

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Daily Express
5 minutes ago
- Daily Express
Asean to lead Global South in low-carbon, sustainable growth
Published on: Sunday, August 17, 2025 Published on: Sun, Aug 17, 2025 By: Bernama Text Size: Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz SUBANG JAYA: Asean can set the benchmark for sustainable growth in the Global South if policies, businesses, and people are aligned towards a low-carbon future, said the Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz. He said that as Asean is projected to become the world's fourth-largest economy by 2030, it is important for the region to be more proactive in climate leadership, given its vulnerability to climate risks due to its lengthy 173,000-kilometre coastline. 'Under our Asean Chairmanship, Malaysia is pushing for initiatives that make sustainability a collective and financially viable goal,' he said. Tengku Zafrul said this in his keynote address at the Economic and Leadership Forum (ELF) here. 'Our vision is to transform Asean into a global hub for green investment and technology. 'This is why we are championing Priority Economic Deliverables, covering important objectives such as sustainable investments, green financing and capital, an Asean Electric Vehicles roadmap, green transition for micro, small and medium enterprises, and positioning Asean as a sustainable minerals investment destination,' he said. He also expressed hope that these deliverables would be translated into domestic policies that reduce risk for investors, accelerate technology adoption, and ensure that sustainability generates viable returns. 'If we can move first – if Malaysia and Asean can make the green transition ahead of our global competitors – we can secure leadership and attract capital in sustainable investments, manufacturing and trade. 'We can build not just products but also the 'people-planet-profit' trust and credibility,' he explained. Tengku Zafrul further said as Asean chair, Malaysia has been urging member states to adopt a stronger, more unified stance on climate action. He said the government is committed to leading the region's sustainability agenda, particularly through the Guidelines for Implementing Asean Sustainable Initiatives (GPPIAL). 'Malaysia itself is guided by the National Climate Change Policy 2.0, and we are preparing to table the National Climate Change Bill this year,' he said. The ELF Forum is an annual event hosted by the London School of Economics Student Union (LSESU) Malaysia Club to promote meaningful discussion on real-world issues from a Malaysian perspective amongst youths. Sunway Education Group chief executive officer, Professor Datuk Elizabeth Lee said the forum, themed 'Asean Business Policy: What's The Sustainability Blueprint' is most timely as the Asean region grapples with an intensifying climate crisis that is taking a toll both on the environment and local communities. 'National policies and regional cooperation must be shaped not only by scientific evidence and environmental urgency, but also by the political will and institutional capacity to act and to drive meaningful and lasting change,' she said in her welcoming speech video. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia

Barnama
37 minutes ago
- Barnama
Top News Headlines In Cambodia, Myanmar, The Philippines, Singapore, Thailand & Vietnam: Aug 17, 2025
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New Straits Times
an hour ago
- New Straits Times
Ringgit likely to trade around RM4.20–RM4.22 next week on uncertainties over US interest rates
KUALA LUMPUR: The ringgit is expected to hover between RM4.20 and RM4.22 next week as traders and investors remain cautious over the trajectory of US interest rates. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the release of the US Federal Open Market Committee (FOMC) meeting minutes next Thursday, Aug 20 (Wednesday, Aug 19, in the US) could offer more clarity on the state of the US economy, particularly after two FOMC members dissented from the recent decision and favoured a 25-basis-point rate cut. Meanwhile, Kenanga Investment Bank Bhd said that markets continued to swing between two and three US Federal Reserve (Fed) cuts over the past few weeks. "We maintain our base case for two, underpinned by evidence that firms are absorbing tariff costs, a trend that is unsustainable and likely to squeeze margins," it said in a research note. Moreover, the investment bank said further easing would require either a major deterioration in the next jobs report or a significantly dovish tone from Fed chair Jerome Powell. "Hence, we expect the ringgit to range around RM4.22 to RM4.23 against the greenback in the near term," it added. On Thursday, the ringgit appreciated to the 4.18 level against the US dollar, its strongest level in more than six weeks. The last time it reached a similar high was on July 1, when it hit 4.1805. Meanwhile, on a Friday-to-Friday basis, the ringgit ended the week higher against the greenback, closing at 4.2085/2155 versus 4.2420/2480 previously. The local note traded mostly higher against a basket of major currencies. The ringgit appreciated vis-à-vis the Japanese yen to 2.8653/8702 from 2.8720/8763 the previous week and rose versus the euro to 4.9185/9267 from 4.9381/9451, but declined against the British pound to 5.7050/7145 from 5.7034/7114 The ringgit also trended firmer against Asean currencies. The local note improved against the Singapore dollar to 3.2820/2877 from 3.3014/3064 at the end of last week, inched up versus the Thai baht to 12.9760/13.0032 from 13.1173/1419, gained versus the Indonesian rupiah to 260.2/260.8 from 260.3/260.8 and strengthened against the Philippine peso to 7.37/7.39 from 7.43/7.44 in the preceding week.