Latest news with #ASPI
Straits Times
3 days ago
- Business
- Straits Times
Australia confident issues raised in US review of submarine project will be resolved
FILE PHOTO: Former Australian Prime Minister and ASPI President Kevin Rudd gives a speech during the 2017 Asia Game Changer Awards and Gala Dinner in Manhattan, New York, U.S. November 1, 2017. REUTERS/Amr Alfiky/File Photo WASHINGTON - Australia's ambassador to Washington said on Friday his country is working with the Pentagon on the U.S. Defense Department's review of the AUKUS submarine project and is confident that all issues raised will be resolved. Kevin Rudd made the comment at the Aspen Security Forum in Colorado and stressed the longstanding U.S.-Australia alliance and his close relationship with Elbridge Colby, the U.S. undersecretary of defense for policy, who initiated the review. "We're working with Bridge and the team on the AUKUS review ... and we are confident that we'll work our way through each and every one of the issues which he has raised in the context of this internal Defense Department review," Rudd said, referring to Colby. "Bridge has been around my place a lot of times, and so we have known each other for a long period of time, and that's why I'm confident, quite apart from the mature relationship within our two defense establishments ... that we'll work our way through this stuff." Rudd, a former Australian prime minister, said the U.S.-Australia alliance had endured through 15 presidents and 15 prime ministers from different parties. In 2023, the United States, Australia, and Britain unveiled details of the AUKUS plan to provide Australia with nuclear-powered attack submarines from the early 2030s, part of efforts to counter China's ambitions in the Indo-Pacific. It is Australia's biggest ever defense project. The Pentagon said in June it was reviewing AUKUS to ensure it was "aligned with the President's America First agenda," amid concerns about the ability of the U.S. to meet its own submarine needs and whether Australia's vessels would be used in support of U.S. policy in the future. Top stories Swipe. Select. Stay informed. Singapore Critical infrastructure in S'pore under attack by cyber espionage group: Shanmugam Singapore What is UNC3886, the group that attacked Singapore's critical information infrastructure? Singapore Alleged Kpod peddler filmed trying to flee raid in Bishan charged with 6 offences Asia Indonesia court jails former trade minister for 4½ years in sugar graft case Singapore Singapore police in contact with Indonesian authorities over baby trafficking allegations Singapore NTU upholds zero grade for student accused of using AI in essay; panel found 14 false citations or data Singapore 7-year-old girl, cabby taken to hospital after vehicle pile-up in City Hall area Singapore Former NUH male nurse charged after he allegedly molested man at hospital On Sunday, Australia's Defence Industry Minister Pat Conroy responded to a report that Colby had pressed Australia and Japan to clarify what role it would play if the U.S. and China went to war over Taiwan by saying Australia would not commit troops in advance to any conflict. Australian Prime Minister Anthony Albanese has also rebuffed U.S. requests to commit to lifting defense spending from 2% to 3.5% of gross domestic product, saying instead Australia would spend what was needed for its defense. The reported call by Colby on Australia to clarify its role regarding Taiwan raised eyebrows, given that Washington itself maintains a policy of "strategic ambiguity" and not saying directly how it would respond to any Chinese attack on the island. Rudd said U.S. President Donald Trump viewed unpredictability as one of his strengths as a leader, whereas China's Communist leadership craved predictability. "Being unpredictable is no bad thing in terms of the way in which the Chinese view their strategic future on the critical question ... (of) the future of Taiwan," he said. Rudd added that Taiwan currently occupied Beijing's entire military strategic focus, and if the island were to fall, China's "capacities and capabilities would be unleashed more broadly." "I believe that logic is galvanizing here in the United States as well as across allies," he said. Asked about Colby's reported pressure on Australia and Japan and Australia's response, a spokesperson for the U.S. State Department said: "The United States has longstanding alliances with both Japan and Australia. We regularly consult with our allies on a range of regional and global issues." REUTERS
Straits Times
3 days ago
- Business
- Straits Times
Australia confident all issues raised in US review of submarine project will be resolved
FILE PHOTO: Former Australian Prime Minister and ASPI President Kevin Rudd gives a speech during the 2017 Asia Game Changer Awards and Gala Dinner in Manhattan, New York, U.S. November 1, 2017. REUTERS/Amr Alfiky/File Photo WASHINGTON - Australia's ambassador to Washington said on Friday his country is working with the Pentagon on the U.S. Defense Department's review of the AUKUS submarine project and is confident that all issues raised will be resolved. Kevin Rudd made the comment at the Aspen Security Forum and stressed his close relationship with Elbridge Colby, the U.S. undersecretary of defense for policy, who initiated the review, and the longstanding U.S.-Australia defense alliance. "We're working with Bridge and the team on the AUKUS review ... and we are confident that we'll work our way through each and every one of the issues which he has raised in the context of this internal Defense Department review," Rudd said, referring to Colby. "Bridge has been around my place a lot of times, and so we have known each other for a long period of time, and that's why I'm confident, quite apart from the mature relationship within our two defense establishments ... that we'll work our way through this stuff." Rudd, a former Australian prime minister, said the U.S.-Australia alliance had endured through 15 presidents and 15 prime ministers from different parties. In 2023, the United States, Australia, and Britain unveiled details of the AUKUS plan to provide Australia with nuclear-powered attack submarines from the early 2030s, part of efforts to counter China's ambitions in the Indo-Pacific. It is Australia's biggest ever defense project. The Pentagon said in June it was reviewing AUKUS to ensure it was "aligned with the President's America First agenda," amid concerns about the ability of the U.S. to meet its own submarine needs and whether Australia's vessels would be used in support of U.S. policy in the future. Top stories Swipe. Select. Stay informed. Singapore Critical infrastructure in S'pore under attack by cyber espionage group: Shanmugam Singapore What is UNC3886, the group that attacked Singapore's critical information infrastructure? Singapore Alleged Kpod peddler filmed trying to flee raid in Bishan charged with 6 offences Asia Indonesia court jails former trade minister for 4½ years in sugar graft case Singapore Singapore police in contact with Indonesian authorities over baby trafficking allegations Singapore NTU upholds zero grade for student accused of using AI in essay; panel found 14 false citations or data Singapore 7-year-old girl, cabby taken to hospital after vehicle pile-up in City Hall area Singapore Former NUH male nurse charged after he allegedly molested man at hospital On Sunday, Australia's Defence Industry Minister Pat Conroy responded to a report that the Pentagon has pressed Australia to clarify what role it would play if the U.S. and China went to war over Taiwan by saying Australia would not commit troops in advance to any conflict. Australian Prime Minister Anthony Albanese has also rebuffed U.S. requests to commit to lifting defense spending from 2% to 3.5% of gross domestic product, saying instead Australia would spend what was needed for its defense. REUTERS
Kuwait Times
03-07-2025
- Business
- Kuwait Times
What happens with Trump's July tariff deadline?
WASHINGTON: A week before US President Donald Trump reimposes steep tariffs on dozens of economies, including the EU and Japan, many are still scrambling to reach a deal that would protect them from the worst. The tariffs taking effect July 9 are part of a package Trump imposed in April citing a lack of 'reciprocity' in trading ties. He slapped a 10 percent levy on most partners, with higher customized rates to kick in later in countries the United States has major trade deficits with. But these were halted until July to allow room for negotiations. Analysts expect countries will encounter one of three outcomes: They could reach a framework for an agreement; receive an extended pause on higher tariffs; or see levies surge. 'There will be a group of deals that we will land before July 9,' said Treasury Secretary Scott Bessent last Friday on CNBC. Policymakers have not named countries in this group, although Bessent maintains that Washington has been focused on striking deals with about 18 key partners. 'Vietnam, India and Taiwan remain promising candidates for a deal,' Asia Society Policy Institute (ASPI) vice president Wendy Cutler told AFP. Without a deal, Vietnam's 'reciprocal tariff' rises from the baseline of 10 percent to 46 percent, India's to 26 percent and Taiwan's to 32 percent. Josh Lipsky, international economics chair at the Atlantic Council, cited Indian negotiators' extension of their US trip recently in noting that it 'seems like a frontrunner.' 'Japan was in that category, but things have set back a little,' Lipsky said, referring to Trump's criticism Monday over what the president called Japan's reluctance to accept US rice exports. The deals, however, will unlikely be full-fledged trade pacts, analysts said, citing complexities in negotiating such agreements. Since April, Washington has only announced a pact with Britain and a deal to temporarily lower tit-for-tat duties with China. Bessent has also said that countries 'negotiating in good faith' can have their tariffs remain at the 10 percent baseline. But extensions of the pause on higher rates would depend on Trump, he added. 'With a new government, (South) Korea looks well positioned to secure an extension,' Cutler of ASPI said. Lipsky expects many countries to fall into this bucket, receiving an extended halt on higher tariffs that could last until Labor Day, which falls on September 1. Bessent earlier said that Washington could wrap up its agenda for trade deals by Labor Day, a signal that more agreements could be concluded but with talks likely to extend past July. For countries that the United States finds 'recalcitrant,' however, tariffs could spring back to the higher levels Trump previously announced, Bessent has warned. These range from 11 percent to 50 percent. Cutler warned that 'Japan's refusal to open its rice market, coupled with the US resistance to lowering automotive tariffs, may lead to the reimposition of Japan's 24 percent reciprocal tariff.' Trump himself said Tuesday that a trade deal was unlikely with Japan and the country could pay a tariff of '30 percent, 35 percent, or whatever the number is that we determine.' Lipsky believes the European Union is at risk of having tariffs snap back to steeper levels too — to the 20 percent unveiled in April or the 50 percent Trump more recently threatened. An area of tension could be Europe's approach to digital regulation. Trump recently said he would terminate trade talks with Canada—which is not impacted by the July 9 deadline—in retaliation for the country's digital services tax, which Ottawa eventually said it would rescind. This week, EU trade chief Maros Sefcovic is in Washington in a push to seal a trade deal, with the EU commission having received early drafts of proposals that officials are working on. – AFP
Qatar Tribune
02-07-2025
- Business
- Qatar Tribune
One week left: Global economies face Donald Trump's tariff threat
Agencies With just a week remaining before U.S. President Donald Trump reimposes steep tariffs on dozens of economies – including key allies such as the European Union and Japan – many are still scrambling to strike a deal to avoid the worst. The tariffs taking effect on July 9 are part of a package Trump imposed in April, citing a lack of 'reciprocity' in trading ties. He slapped a 10% levy on most partners, with higher customized rates to kick in later in countries the U.S. has major trade deficits with. But these were halted until July to allow room for negotiations. Analysts expect countries will encounter one of three outcomes: They could reach a framework for an agreement, receive an extended pause on higher tariffs, or see levies surge. 'There will be a group of deals that we will land before July 9,' Secretary Scott Bessent said last Friday on CNBC. Policymakers have not named countries in this group, although Bessent maintains that Washington has been focused on striking deals with about 18 key partners. 'Vietnam, India and Taiwan remain promising candidates for a deal,' Asia Society Policy Institute (ASPI) vice president Wendy Cutler told Agence France-Presse (AFP). Without a deal, Vietnam's 'reciprocal tariff' rises from the baseline of 10% to 46%, India's to 26% and Taiwan's to 32%. Josh Lipsky, international economics chair at the Atlantic Council, cited Indian negotiators' extension of their U.S. trip recently in noting that it 'seems like a frontrunner.' 'Japan was in that category, but things have set back a little,' Lipsky said, referring to Trump's criticism Monday over what the president called Japan's reluctance to accept U.S. rice deals, however, will unlikely be full-fledged trade pacts, analysts said, citing complexities in negotiating such April, Washington has only announced a pact with Britain and a deal to temporarily lower tit-for-tat duties with has also said that countries 'negotiating in good faith' can have their tariffs remain at the 10% baseline. But extensions of the pause on higher rates would depend on Trump, he added. 'With a new government, (South) Korea looks well positioned to secure an extension,' Cutler of ASPI said. Lipsky expects many countries to fall into this bucket, receiving an extended halt on higher tariffs that could last until Labor Day, which falls on Sept. 1. Bessent earlier said that Washington could wrap up its agenda for trade deals by Labor Day, a signal that more agreements could be concluded but with talks likely to extend past July. For countries that the U.S. finds 'recalcitrant,' however, tariffs could spring back to the higher levels Trump previously announced, Bessent has warned. These range from 11% to 50%. Cutler warned that 'Japan's refusal to open its rice market, coupled with the U.S. resistance to lowering automotive tariffs, may lead to the reimposition of Japan's 24% reciprocal tariff.' Trump himself said Tuesday that a trade deal was unlikely with Japan and the country could pay a tariff of '30%, 35% or whatever the number is that we determine.' Lipsky believes the EU is at risk of having tariffs snap back to steeper levels, too, to the 20% unveiled in April or the 50% Trump more recently threatened. An area of tension could be Europe's approach to digital regulation. Trump recently said he would terminate trade talks with Canada, which is not impacted by the July 9 deadline, in retaliation for the country's digital services tax, which Ottawa eventually said it would rescind. This week, EU trade chief Maros Sefcovic is in Washington in a push to seal a trade deal, with the EU commission having received early drafts of proposals that officials are working on.
NDTV
02-07-2025
- Business
- NDTV
Deal Or No Deal: What Happens With Trump's July Tariff Deadline?
A week before US President Donald Trump reimposes steep tariffs on dozens of economies, including the EU and Japan, many are still scrambling to reach a deal that would protect them from the worst. The tariffs taking effect July 9 are part of a package Trump imposed in April citing a lack of "reciprocity" in trading ties. He slapped a 10 percent levy on most partners, with higher customized rates to kick in later in countries the United States has major trade deficits with. But these were halted until July to allow room for negotiations. Analysts expect countries will encounter one of three outcomes: They could reach a framework for an agreement; receive an extended pause on higher tariffs; or see levies surge. 'Framework' deals "There will be a group of deals that we will land before July 9," said Treasury Secretary Scott Bessent last Friday on CNBC. Policymakers have not named countries in this group, although Bessent maintains that Washington has been focused on striking deals with about 18 key partners. "Vietnam, India and Taiwan remain promising candidates for a deal," Asia Society Policy Institute (ASPI) vice president Wendy Cutler told AFP. Without a deal, Vietnam's "reciprocal tariff" rises from the baseline of 10 percent to 46 percent, India's to 26 percent and Taiwan's to 32 percent. Josh Lipsky, international economics chair at the Atlantic Council, cited Indian negotiators' extension of their US trip recently in noting that it "seems like a frontrunner." "Japan was in that category, but things have set back a little," Lipsky said, referring to Trump's criticism Monday over what the president called Japan's reluctance to accept US rice exports. The deals, however, will unlikely be full-fledged trade pacts, analysts said, citing complexities in negotiating such agreements. Since April, Washington has only announced a pact with Britain and a deal to temporarily lower tit-for-tat duties with China. Extended pause Bessent has also said that countries "negotiating in good faith" can have their tariffs remain at the 10 percent baseline. But extensions of the pause on higher rates would depend on Trump, he added. "With a new government, (South) Korea looks well positioned to secure an extension," Cutler of ASPI said. Lipsky expects many countries to fall into this bucket, receiving an extended halt on higher tariffs that could last until Labor Day, which falls on September 1. Bessent earlier said that Washington could wrap up its agenda for trade deals by Labor Day, a signal that more agreements could be concluded but with talks likely to extend past July. Tariff reimposition For countries that the United States finds "recalcitrant," however, tariffs could spring back to the higher levels Trump previously announced, Bessent has warned. These range from 11 percent to 50 percent. Cutler warned that "Japan's refusal to open its rice market, coupled with the US resistance to lowering automotive tariffs, may lead to the reimposition of Japan's 24 percent reciprocal tariff." Trump himself said Tuesday that a trade deal was unlikely with Japan and the country could pay a tariff of "30 percent, 35 percent, or whatever the number is that we determine." Lipsky believes the European Union is at risk of having tariffs snap back to steeper levels too -- to the 20 percent unveiled in April or the 50 percent Trump more recently threatened. An area of tension could be Europe's approach to digital regulation. Trump recently said he would terminate trade talks with Canada -- which is not impacted by the July 9 deadline -- in retaliation for the country's digital services tax, which Ottawa eventually said it would rescind. This week, EU trade chief Maros Sefcovic is in Washington in a push to seal a trade deal, with the EU commission having received early drafts of proposals that officials are working on.
