China will ‘honor' commitments after Trump said trade deal ‘done'
China will always honor its commitments, the Chinese foreign ministry said on Thursday, after US President Donald Trump said the trade deal with Beijing was 'done.'
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Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
Trump Can Keep National Guard Deployed to Los Angeles for Now, Appeals Court Rules
A US appeals court on Thursday allowed President Donald Trump to maintain his deployment of National Guard troops in Los Angeles amid protests over stepped-up immigration enforcement, temporarily pausing a lower court ruling that blocked the mobilization. The 9th US Circuit Court of Appeals' decision does not mean that the court will ultimately agree with Trump, but it does leave command of the Guard with the president for now. Earlier on Thursday, San Francisco-based US District Judge Charles Breyer found that Trump's deployment of the Guard was unlawful. Breyer had ordered the National Guard to return to the control of California Governor Gavin Newsom, who had brought the case. It was a brief victory for Newsom, as Breyer's order was paused a short time later. The three-judge panel that paused the ruling consisted of two judges appointed by Trump in his first term and one judge who was appointed by Democratic President Joe Biden. The panel said it would hold a hearing on Tuesday to consider the merits of Breyer's order. The appeals court decision stands to leave in place the dynamic of weeklong street demonstrations that have been concentrated in downtown Los Angeles, largely at a federal detention center where National Guard troops have stood watch. The Guard had also accompanied Immigration and Customs Enforcement agents on operations. In his ruling, Breyer wrote that the presence of the troops in the city was itself inflaming tensions with protesters - a contention made by Los Angeles Mayor Karen Bass, among others -and depriving the state of the ability to use the Guard for other purposes. That ruling came hours after Department of Homeland Security Secretary Kristi Noem pledged to "liberate" Los Angeles at a press conference that was dramatically interrupted when federal agents dragged Democratic US Senator Alex Padilla out of the room, forced him to the ground and handcuffed him. The court battle and press conference scuffle underscored the political polarization generated by Trump's hardline approach to immigration enforcement and expansive use of presidential power. Trump is carrying out a campaign promise to deport immigrants, employing forceful tactics consistent with the norm-breaking political style that got him elected twice. Between the rulings, Newsom said the National Guard would be redeployed to its previous tasks, including border security, preparing for wildfires and countering drug smuggling. But the Trump administration immediately appealed the judge's order, calling Breyer's ruling "an extraordinary intrusion on the President's constitutional authority as Commander in Chief." Trump justified the deployment of troops by characterizing the protests in Los Angeles as a "rebellion," but Breyer said in a temporary restraining order that the protests fell far short of that legal standard. "The Court is troubled by the implication inherent in Defendants' argument that protest against the federal government, a core civil liberty protected by the First Amendment, can justify a finding of rebellion," Breyer wrote. Trump has said if he had not ordered in the National Guard the city would be in flames. The protests so far have been mostly peaceful, punctuated by incidents of violence and restricted to a few city blocks. Trump summoned the National Guard on Saturday, then the US Marines on Monday, to help federal police forces guard federal buildings from protesters and to protect federal immigration agents as they picked up suspected violators.
Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
Analysts: Shein's Planned Hong Kong Listing to Benefit from Wider Capital Pool
Shein's planned listing in Hong Kong will help the online fast-fashion retailer avoid sharp investor scrutiny of its supply chains while tapping into capital from the mainland and emerging market investors, analysts said. The Singapore-headquartered company has turned its public market debut ambitions to Hong Kong after failing to win Chinese securities regulatory approval to proceed with a London initial public offering, Reuters reported last month, citing sources. While a listing, if successful, would be a big boost for Hong Kong, the move would cast a cloud over the company's efforts in recent years to gain legitimacy as a global, rather than a Chinese company. Shein, which sells products including $5 bike shorts and $18 sundresses, has faced political and environmental group pressure in the UK over its cotton sourcing and supply chain practices. It has also faced allegations that its clothes contain cotton from China's Xinjiang region, where the US and NGOs have accused the Chinese government of human rights abuses and forced labor. Beijing denies any abuses. The company, which moved its headquarters from China to Singapore in 2022, has previously said it has a zero-tolerance policy for forced labor and requires its contract manufacturers to only source cotton from approved regions. "If it is the only option now open to them, the Hong Kong market does make sense as a place where you could list a global business with a mainland supply chain," said Eliot Fisk, a Hong Kong capital markets consultant and former JPMorgan banker. Shein did not respond to a Reuters request for comment. Before its attempt to list in London, Shein had pursued a listing in New York. The China-founded company had also faced regulatory hurdles and pushback from US lawmakers in its attempt to list in the United States. "Listing in Hong Kong would also likely dodge the protests and political pushback it might face in the UK," said Craig Coben, former Bank of America co-head of capital markets in Hong Kong. While it is not known whether Shein plans to seek any waivers for a potential Hong Kong listing, several waivers, including disclosure-related waivers, can be sought by large IPO hopefuls in the Asian financial hub, according to capital market lawyers. A Hong Kong listing would also allow Shein to eventually be added to the city's Stock Connect scheme which gives easier access for mainland and Hong Kong-based investors to buy shares on each country's respective markets more easily. Shein would easily meet the market capitalization and other criteria for inclusion in the connect scheme and for attracting mainland investment, said Hong Kong-based advisory firm Emmer Capital Partners CEO Manishi Raychaudhuri. There was a 255% year-on-year increase in average daily turnover in the first three months of the year in Southbound trading, mainland investors buying and selling Hong Kong stocks, the Hong Kong Exchange said in its first quarter results. "Hong Kong would have a dominant presence of Asia and emerging market-focused investors. London on the other hand, would have a significant presence of global and developed market investors," Raychaudhuri said. "The supply chain issues would have been a more important consideration for the latter set of investors."
Arab News
an hour ago
- Arab News
Mexican citizen dies in US immigration detention center
MEXICO CITY: A Mexican citizen died in a US Immigration and Customs Enforcement (ICE) detention center from undetermined circumstances, Mexico's foreign ministry has said. The death comes amid ongoing demonstrations in several US states, most prominently in California, against immigration enforcement raids launched by US President Donald Trump's administration. The man died on June 7 at an ICE facility in the southern state of Georgia, where he was being held after he was transferred from a state prison, the foreign ministry said in a statement Thursday. US authorities notified the Mexican consulate in Georgia's capital Atlanta of the death. 'Consular staff has established communication with local and ICE authorities, as well as with the individual's family members, to clarify the facts, confirm the official cause of death, and provide legal advice and support to the family,' the ministry said. Mexico's foreign ministry said consular staff had not been notified to interview the detainee while he was in custody, despite regular visits to the facility to assist Mexican nationals. 'The consulate has requested an explanation from the (detention) center's authorities,' the ministry said. It also said it was examining legal options and maintaining communication with the Georgia Bureau of Investigation, the state's independent investigative body.
