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The Advertiser
25-05-2025
- Business
- The Advertiser
ASEAN must stay united to fight US tariffs: Malaysia
Southeast Asian nations must accelerate regional economic integration, diversify their markets and stay united to tackle the fallout from global trade disruptions resulting from sweeping US tariff hikes. Malaysian Foreign Minister Mohamad Hasan's call for a united front came in his opening speech at a meeting of foreign ministers from the Association of Southeast Asian Nations (ASEAN) in Kuala Lumpur on Sunday. He also reiterated the bloc's call to warring parties in Myanmar to end hostilities in a deadly civil war that has killed thousands and displaced millions of people since a 2021 government takeover by the military. "ASEAN nations are among those most heavily affected by the US-imposed tariffs," he said. The US–China trade war is dramatically disrupting production and trade patterns worldwide. "A global economic slowdown is likely to happen," Mohamad said. "We must seize this moment to deepen regional economic integration, so that we can better shield our region from external shocks." ASEAN countries, many of which rely on exports to the US, are reeling from tariffs imposed by the Trump administration ranging from 10 per cent to 49 per cent. Six of the association's 10 member nations were among the worst-hit with tariffs ranging from 32 per cent to 49 per cent. ASEAN unsuccessfully sought an initial meeting with the US as a bloc. When US President Donald Trump last month announced a 90-day pause on the tariffs, countries including Malaysia, Indonesia, Thailand and Vietnam swiftly began trade negotiations with Washington. The meeting of foreign ministers preceded a planned ASEAN leaders' summit Monday in Malaysia, the bloc's current chair. A summit is expected to follow on Tuesday with Chinese Premier Li Qiang and leaders from the Gulf Co-operation Council comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. ASEAN's unity is crucial as the region grapples with impacts of climate change and disruption from the malevolent use of artificial intelligence and other unregulated technologies, Mohamad said, adding that ASEAN's centrality will be tested by external pressure, including a superpower rivalry. "External pressures are rising, and the scope of challenges has never had higher stakes," he said. "It is therefore crucial that we reinforce the ties that bind us, so as to not unravel under external pressures. For ASEAN, unity is now more important than ever." ASEAN remained committed to help war-torn Myanmar, which is recovering from a March earthquake that killed more than 3700 people, Mohamad said. Myanmar's military leaders were barred from attending ASEAN meetings after refusing to comply with ASEAN's peace plan, which includes negotiations and delivery of humanitarian aid. Southeast Asian nations must accelerate regional economic integration, diversify their markets and stay united to tackle the fallout from global trade disruptions resulting from sweeping US tariff hikes. Malaysian Foreign Minister Mohamad Hasan's call for a united front came in his opening speech at a meeting of foreign ministers from the Association of Southeast Asian Nations (ASEAN) in Kuala Lumpur on Sunday. He also reiterated the bloc's call to warring parties in Myanmar to end hostilities in a deadly civil war that has killed thousands and displaced millions of people since a 2021 government takeover by the military. "ASEAN nations are among those most heavily affected by the US-imposed tariffs," he said. The US–China trade war is dramatically disrupting production and trade patterns worldwide. "A global economic slowdown is likely to happen," Mohamad said. "We must seize this moment to deepen regional economic integration, so that we can better shield our region from external shocks." ASEAN countries, many of which rely on exports to the US, are reeling from tariffs imposed by the Trump administration ranging from 10 per cent to 49 per cent. Six of the association's 10 member nations were among the worst-hit with tariffs ranging from 32 per cent to 49 per cent. ASEAN unsuccessfully sought an initial meeting with the US as a bloc. When US President Donald Trump last month announced a 90-day pause on the tariffs, countries including Malaysia, Indonesia, Thailand and Vietnam swiftly began trade negotiations with Washington. The meeting of foreign ministers preceded a planned ASEAN leaders' summit Monday in Malaysia, the bloc's current chair. A summit is expected to follow on Tuesday with Chinese Premier Li Qiang and leaders from the Gulf Co-operation Council comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. ASEAN's unity is crucial as the region grapples with impacts of climate change and disruption from the malevolent use of artificial intelligence and other unregulated technologies, Mohamad said, adding that ASEAN's centrality will be tested by external pressure, including a superpower rivalry. "External pressures are rising, and the scope of challenges has never had higher stakes," he said. "It is therefore crucial that we reinforce the ties that bind us, so as to not unravel under external pressures. For ASEAN, unity is now more important than ever." ASEAN remained committed to help war-torn Myanmar, which is recovering from a March earthquake that killed more than 3700 people, Mohamad said. Myanmar's military leaders were barred from attending ASEAN meetings after refusing to comply with ASEAN's peace plan, which includes negotiations and delivery of humanitarian aid. Southeast Asian nations must accelerate regional economic integration, diversify their markets and stay united to tackle the fallout from global trade disruptions resulting from sweeping US tariff hikes. Malaysian Foreign Minister Mohamad Hasan's call for a united front came in his opening speech at a meeting of foreign ministers from the Association of Southeast Asian Nations (ASEAN) in Kuala Lumpur on Sunday. He also reiterated the bloc's call to warring parties in Myanmar to end hostilities in a deadly civil war that has killed thousands and displaced millions of people since a 2021 government takeover by the military. "ASEAN nations are among those most heavily affected by the US-imposed tariffs," he said. The US–China trade war is dramatically disrupting production and trade patterns worldwide. "A global economic slowdown is likely to happen," Mohamad said. "We must seize this moment to deepen regional economic integration, so that we can better shield our region from external shocks." ASEAN countries, many of which rely on exports to the US, are reeling from tariffs imposed by the Trump administration ranging from 10 per cent to 49 per cent. Six of the association's 10 member nations were among the worst-hit with tariffs ranging from 32 per cent to 49 per cent. ASEAN unsuccessfully sought an initial meeting with the US as a bloc. When US President Donald Trump last month announced a 90-day pause on the tariffs, countries including Malaysia, Indonesia, Thailand and Vietnam swiftly began trade negotiations with Washington. The meeting of foreign ministers preceded a planned ASEAN leaders' summit Monday in Malaysia, the bloc's current chair. A summit is expected to follow on Tuesday with Chinese Premier Li Qiang and leaders from the Gulf Co-operation Council comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. ASEAN's unity is crucial as the region grapples with impacts of climate change and disruption from the malevolent use of artificial intelligence and other unregulated technologies, Mohamad said, adding that ASEAN's centrality will be tested by external pressure, including a superpower rivalry. "External pressures are rising, and the scope of challenges has never had higher stakes," he said. "It is therefore crucial that we reinforce the ties that bind us, so as to not unravel under external pressures. For ASEAN, unity is now more important than ever." ASEAN remained committed to help war-torn Myanmar, which is recovering from a March earthquake that killed more than 3700 people, Mohamad said. Myanmar's military leaders were barred from attending ASEAN meetings after refusing to comply with ASEAN's peace plan, which includes negotiations and delivery of humanitarian aid. Southeast Asian nations must accelerate regional economic integration, diversify their markets and stay united to tackle the fallout from global trade disruptions resulting from sweeping US tariff hikes. Malaysian Foreign Minister Mohamad Hasan's call for a united front came in his opening speech at a meeting of foreign ministers from the Association of Southeast Asian Nations (ASEAN) in Kuala Lumpur on Sunday. He also reiterated the bloc's call to warring parties in Myanmar to end hostilities in a deadly civil war that has killed thousands and displaced millions of people since a 2021 government takeover by the military. "ASEAN nations are among those most heavily affected by the US-imposed tariffs," he said. The US–China trade war is dramatically disrupting production and trade patterns worldwide. "A global economic slowdown is likely to happen," Mohamad said. "We must seize this moment to deepen regional economic integration, so that we can better shield our region from external shocks." ASEAN countries, many of which rely on exports to the US, are reeling from tariffs imposed by the Trump administration ranging from 10 per cent to 49 per cent. Six of the association's 10 member nations were among the worst-hit with tariffs ranging from 32 per cent to 49 per cent. ASEAN unsuccessfully sought an initial meeting with the US as a bloc. When US President Donald Trump last month announced a 90-day pause on the tariffs, countries including Malaysia, Indonesia, Thailand and Vietnam swiftly began trade negotiations with Washington. The meeting of foreign ministers preceded a planned ASEAN leaders' summit Monday in Malaysia, the bloc's current chair. A summit is expected to follow on Tuesday with Chinese Premier Li Qiang and leaders from the Gulf Co-operation Council comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. ASEAN's unity is crucial as the region grapples with impacts of climate change and disruption from the malevolent use of artificial intelligence and other unregulated technologies, Mohamad said, adding that ASEAN's centrality will be tested by external pressure, including a superpower rivalry. "External pressures are rising, and the scope of challenges has never had higher stakes," he said. "It is therefore crucial that we reinforce the ties that bind us, so as to not unravel under external pressures. For ASEAN, unity is now more important than ever." ASEAN remained committed to help war-torn Myanmar, which is recovering from a March earthquake that killed more than 3700 people, Mohamad said. Myanmar's military leaders were barred from attending ASEAN meetings after refusing to comply with ASEAN's peace plan, which includes negotiations and delivery of humanitarian aid.
West Australian
25-05-2025
- Business
- West Australian
ASEAN must stay united to fight US tariffs: Malaysia
Southeast Asian nations must accelerate regional economic integration, diversify their markets and stay united to tackle the fallout from global trade disruptions resulting from sweeping US tariff hikes. Malaysian Foreign Minister Mohamad Hasan's call for a united front came in his opening speech at a meeting of foreign ministers from the Association of Southeast Asian Nations (ASEAN) in Kuala Lumpur on Sunday. He also reiterated the bloc's call to warring parties in Myanmar to end hostilities in a deadly civil war that has killed thousands and displaced millions of people since a 2021 government takeover by the military. "ASEAN nations are among those most heavily affected by the US-imposed tariffs," he said. The US–China trade war is dramatically disrupting production and trade patterns worldwide. "A global economic slowdown is likely to happen," Mohamad said. "We must seize this moment to deepen regional economic integration, so that we can better shield our region from external shocks." ASEAN countries, many of which rely on exports to the US, are reeling from tariffs imposed by the Trump administration ranging from 10 per cent to 49 per cent. Six of the association's 10 member nations were among the worst-hit with tariffs ranging from 32 per cent to 49 per cent. ASEAN unsuccessfully sought an initial meeting with the US as a bloc. When US President Donald Trump last month announced a 90-day pause on the tariffs, countries including Malaysia, Indonesia, Thailand and Vietnam swiftly began trade negotiations with Washington. The meeting of foreign ministers preceded a planned ASEAN leaders' summit Monday in Malaysia, the bloc's current chair. A summit is expected to follow on Tuesday with Chinese Premier Li Qiang and leaders from the Gulf Co-operation Council comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. ASEAN's unity is crucial as the region grapples with impacts of climate change and disruption from the malevolent use of artificial intelligence and other unregulated technologies, Mohamad said, adding that ASEAN's centrality will be tested by external pressure, including a superpower rivalry. "External pressures are rising, and the scope of challenges has never had higher stakes," he said. "It is therefore crucial that we reinforce the ties that bind us, so as to not unravel under external pressures. For ASEAN, unity is now more important than ever." ASEAN remained committed to help war-torn Myanmar, which is recovering from a March earthquake that killed more than 3700 people, Mohamad said. Myanmar's military leaders were barred from attending ASEAN meetings after refusing to comply with ASEAN's peace plan, which includes negotiations and delivery of humanitarian aid.
Perth Now
25-05-2025
- Business
- Perth Now
ASEAN must stay united to fight US tariffs: Malaysia
Southeast Asian nations must accelerate regional economic integration, diversify their markets and stay united to tackle the fallout from global trade disruptions resulting from sweeping US tariff hikes. Malaysian Foreign Minister Mohamad Hasan's call for a united front came in his opening speech at a meeting of foreign ministers from the Association of Southeast Asian Nations (ASEAN) in Kuala Lumpur on Sunday. He also reiterated the bloc's call to warring parties in Myanmar to end hostilities in a deadly civil war that has killed thousands and displaced millions of people since a 2021 government takeover by the military. "ASEAN nations are among those most heavily affected by the US-imposed tariffs," he said. The US–China trade war is dramatically disrupting production and trade patterns worldwide. "A global economic slowdown is likely to happen," Mohamad said. "We must seize this moment to deepen regional economic integration, so that we can better shield our region from external shocks." ASEAN countries, many of which rely on exports to the US, are reeling from tariffs imposed by the Trump administration ranging from 10 per cent to 49 per cent. Six of the association's 10 member nations were among the worst-hit with tariffs ranging from 32 per cent to 49 per cent. ASEAN unsuccessfully sought an initial meeting with the US as a bloc. When US President Donald Trump last month announced a 90-day pause on the tariffs, countries including Malaysia, Indonesia, Thailand and Vietnam swiftly began trade negotiations with Washington. The meeting of foreign ministers preceded a planned ASEAN leaders' summit Monday in Malaysia, the bloc's current chair. A summit is expected to follow on Tuesday with Chinese Premier Li Qiang and leaders from the Gulf Co-operation Council comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. ASEAN's unity is crucial as the region grapples with impacts of climate change and disruption from the malevolent use of artificial intelligence and other unregulated technologies, Mohamad said, adding that ASEAN's centrality will be tested by external pressure, including a superpower rivalry. "External pressures are rising, and the scope of challenges has never had higher stakes," he said. "It is therefore crucial that we reinforce the ties that bind us, so as to not unravel under external pressures. For ASEAN, unity is now more important than ever." ASEAN remained committed to help war-torn Myanmar, which is recovering from a March earthquake that killed more than 3700 people, Mohamad said. Myanmar's military leaders were barred from attending ASEAN meetings after refusing to comply with ASEAN's peace plan, which includes negotiations and delivery of humanitarian aid.
Yahoo
20-05-2025
- Business
- Yahoo
UK now best placed country on trade
The UK is now in a better place on trade "than any other country in the world", the chancellor has claimed. Rachel Reeves said Britain's economic growth was on course to be upgraded as a result of the country's recent three trade deals agreed with the US, India and the EU. Reeves suggested the government wanted to go further on its new agreement with the EU but told the BBC a trade pact with countries in the Gulf, including Saudi Arabia and Qatar, would be the "next deal". She told the BBC the UK was "not looking to have trade negotiations with China", despite previously saying she wanted a long-term relationship with the country. On Monday, the UK and the EU struck a deal across several areas including fishing, trade, defence and energy, which marked the biggest agreement between the parties since the UK left the trading bloc in 2020 following the Brexit vote. The summit in London came after the government reached a trade deal with India to make it easier for UK firms to export whisky, cars and other products to the country, and cut taxes on India's clothing and footwear exports. The government has also secured an agreement with US President Donald Trump to reduce tariffs on some goods traded between the nations. Reeves described the recent trade deals as having "come along like buses" and hinted at expectations of an upgrade to UK economic growth forecasts as a result. "Britain is in a better place than any other country in the world in terms of deals with those countries," she said. "The first deal and the best deal so far with the US, we've got the best deal with the EU for any country outside the EU, and we've got the best trade agreement with India," Reeves added. "Not only are these important in their own right, but it also shows that Britain now is the place for investment and business, because we've got preferential deals with the biggest economies around the world." The chancellor told the BBC another deal with Gulf nations was the "next deal", with the government closing in on a pact with the six-member Gulf Co-operation Council including Saudi Arabia, the UAE and Qatar. The new UK-EU deal at a glance UK and India agree trade deal after three years of talks What is in the UK-US tariff deal? It appears the government had the EU, the UK's largest trading partner, in mind during its talks with the US and India. As part of the deal with the EU, in return for extending current fishing rules, checks have been reduced on UK food exports. Reeves said UK officials had made it clear to the Trump administration and India that food standards were not up for negotiation in their deals. "We increased the quota for the import of beef from the US, it was all still on the high standards that we pride ourselves in, and in part because standards matter to us, but also because we wanted to secure this agreement with the EU, which is by far the biggest market for UK agriculture and fishing," the chancellor said. But while the government has hailed recent trade agreements as triumphs, some opposition parties have criticised Reeves and Prime Minister Sir Keir Starmer for some of the concessions offered in return. Conservative leader Kemi Badenoch said the latest EU deal took the UK "backwards" and previously said the country had been "shafted" in the America tariff pact. The chancellor received a boost last week when the latest official figures revealed the UK economy had grown by 0.7% in the first three months of the year. The growth was bigger than expected but is not forecast to last. The government has made growing the economy its main priority in order to boost living standards. A higher growth rate usually means people are getting paid a little bit more, can spend more and more jobs are created by businesses investing. Reeves suggested UK growth forecasts could be boosted because of the better figures, but economists have warned US tariffs and the chancellor's decision to raise National Insurance for employers could hit the economy. "We are forecasting growth of 1% this year, and we had 0.7% in Q1 and they'll take into account the new trade deals that have been secured," she said.
STV News
15-05-2025
- Politics
- STV News
Trump meets Syria's former-insurgent-turned-leader in Saudi Arabia
US President Donald Trump has met interim Syrian president Ahmad al-Sharaa in Saudi Arabia, the first encounter between the two nations' leaders in 25 years and one that could mark a turning point for Syria as it struggles to emerge from decades of international isolation. The meeting, on the sidelines of Trump's get-together with the leaders of the Gulf Co-operation Council (GCC), marks a major turn of events for a Syria still adjusting to life after the more than 50-year, iron-gripped rule of the Assad family. Trump praised Sharaa when speaking to reporters after the meeting on Air Force One, saying he was a 'young, attractive guy. Tough guy. Strong past. Very strong past. Fighter'. Under the nom de guerre Abu Mohammed al-Golani, Sharaa had ties to al Qaida and joined insurgents battling US forces in Iraq before entering the Syrian war. He was even imprisoned by US troops there for several years. 'He's got a real shot at holding it together,' Trump said. PA Media US President Donald Trump, left, Saudi Arabia's Crown Prince Mohammed bin Salman, centre, and Syria's interim president Ahmad al-Sharaa in Riyadh, Saudi Arabia 'He's a real leader. He led a charge and he's pretty amazing.' The US president had announced the day before as he kicked off his three-nation Middle East tour in Riyadh that he would also move to lift US sanctions imposed on Syria under the deposed autocrat Bashar Assad. People across Syria cheered in the streets and set off fireworks on Tuesday night to celebrate, hopeful their nation – locked out of credit cards and global finance – might rejoin the world's economy when they need investments the most. The meeting came even after Israeli Prime Minister Benjamin Netanyahu had earlier asked Mr Trump not to lift sanctions on Syria, again underscoring a growing discontent between the White House and the Israeli government as its war on Hamas in the Gaza Strip rages on. I am 'ordering the cessation of sanctions against Syria to give them a fresh start', Trump told the GCC after his meeting with Sharaa. 'It gives them a chance for greatness. The sanctions were really crippling, very powerful.' Trump said Sharaa had agreed to join the Abraham Accords and recognise Israel at some point, telling reporters: 'I think they have to get themselves straightened up. I told him, 'I hope you're going to join when it's straightened out.' He said, 'Yes.' But they have a lot of work to do.' Trump said on Tuesday that he would meet Sharaa, who had flown in to the Saudi capital for the face-to-face meeting. Even before its ruinous civil war that began in 2011, Syria struggled under a tightly controlled socialist economy and under sanctions by the US as a state-sponsor of terror since 1979. The Trump-al-Sharaa meeting took place behind closed doors and reporters were not permitted to witness the engagement. The White House later said it ran for just over 30 minutes, making Sharaa the first Syrian leader to meet an American president since Hafez Assad met Bill Clinton in Geneva in 2000. Turkish President Recep Tayyip Erdogan joined the meeting between Trump, Saudi Crown Prince Mohammed bin Salman and Sharaa via a phone call. Turkey was a main backer to Sharaa and his rebel faction. 'I felt very strongly that this would give them a chance,' Trump said of Syria. 'It's not going to be easy anyway, so gives them a good strong chance. And it was my honour to do so.' He added: 'We made a speech last night and that was the thing that got the biggest applause from the room.' Trump cited the intervention of Saudi Prince Mohammed as key to his decision. 'We commend the decision made yesterday by President Trump to lift the sanctions on the brotherly Syrian Arab Republic, which will alleviate the suffering of the Syrian people,' he said in a speech to the GCC. White House press secretary Karoline Leavitt said in a statement that Trump urged Sharaa to diplomatically recognise Israel, 'tell all foreign terrorists to leave Syria' and help the US stop any resurgence of the so-called Islamic State group. Trump also asked for the Syrian government to 'assume responsibility' for more than a dozen detention centres holding some 9,000 suspected members of IS, Ms Leavitt added. The prisons are run by the US-backed and Kurdish-led forces that spearheaded the military campaign against the extremists and controlled the last sliver of land they once held in March 2019. As part of a deal reached in March between the Syrian government and the Kurdish-led forces, all border crossings with Iraq and Turkey, airports and oil fields in the north east would be brought under the central government's control by the end of the year. Trump's desire for Syria to take over the prisons also signals the potential of a full American military withdrawal from Syria. Syria's Foreign Ministry said Trump and Sharaa discussed the Syrian-US partnership in fighting terror and armed groups such as IS standing in the way of stability. Sharaa was named interim president of Syria in January, a month after a stunning offensive by insurgent groups led by Sharaa's Hayat Tahrir al-Sham (HTS) that stormed Damascus, ending the 54-year rule of the Assad family. Many Gulf Arab leaders have rallied behind the new government in Damascus and want Trump to follow, believing it is a bulwark against Iran's return to influence in Syria, where it had helped prop up Assad's government during a decade-long civil war. But longtime US ally Israel has been deeply sceptical of Sharaa's extremist past and cautioned against swift recognition of the new government. The request came during Netanyahu's visit to Washington last month, according to an Israeli official. Israel was concerned that a cross-border attack similar to Hamas's October 7 2023, assault could come from Syria. Israel also fears Sharaa and his Islamist past could pose a threat on its northern border. Syrians cheered the announcement by Trump that the US will move to lift sanctions on the beleaguered Middle Eastern nation. The state-run SANA news agency published video and photographs of Syrians cheering in Umayyad Square, the largest in the country's capital Damascus. Others honked their car horns or waved the new Syrian flag in celebration. People whistled and cheered as fireworks lit the night sky. A statement from Syria's Foreign Ministry on Tuesday night called the announcement 'a pivotal turning point for the Syrian people as we seek to emerge from a long and painful chapter of war'. 'The removal of these sanctions offers a vital opportunity for Syria to pursue stability, self-sufficiency and meaningful national reconstruction, led by and for the Syrian people,' the statement added. 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