Latest news with #Indo-Pacific
Nahar Net
5 hours ago
- Business
- Nahar Net
Trump says China trip 'not too distant' as trade tensions ease
by Naharnet Newsdesk 23 July 2025, 11:46 President Donald Trump on Tuesday said a trip to China might be "not too distant," raising prospects that the leaders of the world's two largest economies may meet soon to help reset relations after moving to climb down from a trade war. Trump made the remarks while hosting Philippine President Ferdinand Marcos Jr. at the White House, where he praised the "fantastic military relationship" with Manila as the U.S. looks to counter China's influence in the Indo-Pacific region. Yet, Trump still said the U.S. is "getting along with China very well. We have a very good relationship." He added that Beijing has resumed shipping to the U.S. "record numbers" of much-needed rare earth magnets, which are used in iPhones and other high-tech products like electric vehicles. Widely speculated about since Trump returned to the White House, a summit between Trump and Chinese President Xi Jinping would be expected to stabilize — even for a short while — a difficult relationship defined by mistrust and competition. Beijing believes a leader-level summit is necessary to steady U.S.-China relations and that Trump must be wooed because he has the final say on America's policy toward China, despite more hawkish voices in his Cabinet, observers say. The question, however, is when. Danny Russel, a distinguished fellow at the Asia Society Policy Institute, said Trump has consistently shown his hunger for a visit to China and that Beijing has used that to bolster leverage. "As soon as the leadership in Beijing is satisfied that Trump will be on his best behavior and will accept terms for a deal that they think are favorable, they will give a green light to the visit," Russel said. Sun Yun, director of the China program at the Washington-based think tank Stimson Center, said a visit "is in the making" with two sides likely to strike a trade deal. What Trump said might mean the visit would not be in September but "potentially November, but still depends on whether they play ball on trade and other things we want," Sun said. Trump's campaign to impose tariffs on other countries kicked off a high-stake trade war with Beijing. China raised tariffs on U.S. goods to 125% in response to Trump's hiking the tax on Chinese goods to 145%. Both sides also imposed on each other harsh trade restrictions on critical products: China on rare earths, and the U.S. on computing chips and jet engine technology. Trade tensions, however, eased following two rounds of high-level talks in Geneva and London, when the two sides agreed to lower tariffs — pending a more permanent deal by mid-August — and pull back on trade restrictions. Treasury Secretary Scott Bessent said Tuesday on Fox Business' "Mornings with Maria" that he will be meeting with his Chinese counterparts in Stockholm next week to work on "what is likely an extension" of the Aug. 12 deadline. "I think trade is in a very good place with China," Bessent told host Maria Bartiromo. "Hopefully, we can see the Chinese pull back on some of this glut of manufacturing that they're doing and concentrate on building a consumer economy." He said he also expects to bring up China's purchases of Russian and Iranian oil and Beijing's role in aiding Moscow in its war against Ukraine. Beijing has not announced any travel plans for Vice Premier He Lifeng, who led trade negotiations in both Geneva and London on behalf of the Chinese government, but it is not unusual for China to make such announcements closer to a travel date. In a possible friendly gesture, Beijing on Tuesday said it suspended an antitrust investigation into chemical maker DuPont's operations in China. China's State Administration for Market Regulation made the announcement in a one-line statement but gave no explanation for the decision. DuPont said in a statement that it is "pleased" with China's action. Chinese regulators launched the investigation in April against DuPont China Group, a subsidiary of the chemical giant, as part of Beijing's broad, retaliatory response to Trump's sky-high tariffs. Beijing also has agreed to approve export permits for rare earth elements and rare earth magnets that U.S. manufacturers need to build cars, robots, wind turbines and other high-tech products. The U.S. has eased restrictions on some advanced chips and other technologies.
The Independent
8 hours ago
- Business
- The Independent
Philippines president hails ‘significant achievement' after 19% tariff deal with Trump
Donald Trump announced that the US had reached a deal to levy a 19 per cent import tariff on the Philippines following what he described as a "beautiful visit" by president Ferdinand Marcos Jr to the White House. The tariff rate is just shy of the 20 per cent Mr Trump had threatened to impose on America's key Southeast Asian ally earlier this month but higher than the 17 per cent set when he first declared sweeping tariffs for dozens of countries in April. Mr Marcos Jr called the trade deal with the US a "significant achievement" but noted that some details were still to be worked out. The announcement of a loose framework of a deal comes as the two allies seek closer security and economic ties in the face of shifting geopolitics in the Indo-Pacific region. 'It was a beautiful visit, and we concluded our Trade Deal, whereby the Philippines is going OPEN MARKET with the United States, and ZERO Tariffs. The Philippines will pay a 19 per cent Tariff," Mr Trump wrote on his Truth Social platform. He called Mr Marcos Jr a "very good and tough negotiator'. Mr Marcos Jr, the first Southeast Asian leader to meet Mr Trump in his second term, told reporters at the start of his White House meeting that the US was his nation's 'strongest, closest, most reliable ally'. The Philippines is faced with China's assertive presence in the South China Sea where Manila and Beijing have clashed over the hotly contested Scarborough Shoal. Mr Trump said the "very big numbers" in the trade agreement would only grow larger. The US had a deficit of nearly $5bn (£3.7bn) with the Philippines last year on bilateral goods trade of $23.5bn (£17.3bn). The US president has upended global trade flows by levying tariffs on nearly every trading partner, with almost all nations slapped with a 10 per cent tariff in April and many facing steep additional levies from 1 August. Philippine officials had said Mr Marcos Jr intended to stress to Washington that Manila must become economically stronger if it was to serve as a truly robust US partner in the Indo-Pacific. Gregory Poling, a Southeast Asia expert at Washington's Center for Strategic and International Studies, told Reuters it was too early to say much about the Philippines trade deal since no details had been released, as was the case with similar pacts with Indonesia and Vietnam. "At the end of the day, I don't think the Philippine government is sweating the final number so long as it keeps Philippine-made goods competitive with those of its neighbors, which this does," Mr Poling said. Mr Trump previously announced a 19 per cent tariff for Indonesia and 20 per cent for Vietnam.
Times of Oman
10 hours ago
- Business
- Times of Oman
India, Japan discuss boosting maritime connectivity
Tokyo: India and Japan continued to deepen their partnership on maritime connectivity and regional cooperation in the Indo-Pacific region during a seminar titled "IPOI: India-Japan Partnership in Maritime Connectivity" held at the Indian Embassy in Tokyo on Tuesday (local time). Ambassador of India to Japan, Sibi George, delivered the inaugural remarks at the event, which featured special addresses by Japan's former Defence Minister and MP H.E. Mr. Minoru Kihara, India's Secretary (East) H.E. Mr. P. Kumaran, and H.E. Mr. Shingo Miyamoto, Director General at Japan's Ministry of Foreign Affairs (MOFA). The discussions focused on strengthening India-Japan cooperation on maritime linkages across the Indo-Pacific region. The Indian Embassy later shared highlights of the event in a post on social media platform X, "Glimpses of a seminar on "IPOI: India-Japan Partnership in Maritime Connectivity" held at the Embassy. Ambassador @AmbSibiGeorge delivered the inaugural remarks at the event, which also featured special remarks by H.E. Mr. Minoru Kihara, Hon'ble MP & former Defence Minister, H.E. Mr. P. Kumaran, Secretary (East), and H.E. Mr. Shingo Miyamoto, DG, MOFA. Discussions focused on deepening India-Japan cooperation in enhancing maritime connectivity in Indo-Pacific." On the sidelines of the seminar, Ambassador Sibi George held talks with top Japanese lawmakers. He met H.E. Yasutoshi Nishimura, Member of the House of Representatives, and discussed ways to further strengthen the India-Japan Special Strategic and Global Partnership. He also received H.E. Minoru Kihara, former Defence Minister of Japan and current MP, for a similar discussion on bilateral cooperation. Last month, Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, met Terada Yoshimichi, Japan's Vice Minister for International Affairs (MLITT), in Oslo. The meeting aimed to expand maritime ties between the two countries, including Japanese investment in Indian shipyards, cooperation in port digitisation, green initiatives, R&D, seafarer employment, and upskilling. The two sides also discussed Japan's possible collaboration in developing the Andaman & Nicobar Islands and the Lakshadweep Islands into smart, sustainable, and disaster-resilient islands. Sonowal said Japan's expertise in this area could help in deploying renewable energy, smart mobility, and digital infrastructure. In April 2025, following the terror attack in Pahalgam, Japanese Prime Minister Shigeru Ishiba also called Prime Minister Narendra Modi to express condolences. Prior to the call, both PM Ishiba and Japanese Foreign Minister Iwaya had issued public messages of sympathy. The India-Japan partnership has seen regular high-level interactions. In October 2024, PM Modi met with Prime Minister Ishiba in Vientiane, Laos, during the ASEAN summit. Both leaders discussed enhanced cooperation in infrastructure, connectivity, defence, and other key areas. India and Japan continue to maintain strategic engagement through structured dialogues. The 17th Foreign Ministers' Strategic Dialogue was held in New Delhi in August 2024, along with the 3rd round of the 2+2 Ministerial Meeting on the same day, reflecting the countries' commitment to regional peace, maritime security, and shared prosperity.
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Business Standard
11 hours ago
- Business
- Business Standard
China trip 'not too distant', says Trump amid easing trade tensions
President Donald Trump on Tuesday said a trip to China might be not too distant, raising prospects that the leaders of the world's two largest economies may meet soon to help reset relations after moving to climb down from a trade war. Trump made the remarks while hosting Philippine President Ferdinand Marcos Jr. at the White House, where he praised the fantastic military relationship with Manila as the US looks to counter China's influence in the Indo-Pacific region. Yet, Trump still said the US is getting along with China very well. We have a very good relationship." He added that Beijing has resumed shipping to the US record numbers of much-needed rare earth magnets, which are used in iPhones and other high-tech products like electric vehicles. Widely speculated about since Trump returned to the White House, a summit between Trump and Chinese President Xi Jinping would be expected to stabilise even for a short while a difficult relationship defined by mistrust and competition. Beijing believes a leader-level summit is necessary to steady US-China relations and that Trump must be wooed because he has the final say on America's policy toward China, despite more hawkish voices in his Cabinet, observers say. The question, however, is when. Danny Russel, a distinguished fellow at the Asia Society Policy Institute, said Trump has consistently shown his hunger for a visit to China and that Beijing has used that to bolster leverage. As soon as the leadership in Beijing is satisfied that Trump will be on his best behavior and will accept terms for a deal that they think are favorable, they will give a green light to the visit, Russel said. Sun Yun, director of the China program at the Washington-based think tank Stimson Center, said a visit is in the making with two sides likely to strike a trade deal. What Trump said might mean the visit would not be in September but "potentially November, but still depends on whether they play ball on trade and other things we want," Sun said. Trump's campaign to impose tariffs on other countries kicked off a high-stake trade war with Beijing. China raised tariffs on US goods to 125% in response to Trump's hiking the tax on Chinese goods to 145%. Both sides also imposed on each other harsh trade restrictions on critical products: China on rare earths, and the US on computing chips and jet engine technology. Trade tensions, however, eased following two rounds of high-level talks in Geneva and London, when the two sides agreed to lower tariffs pending a more permanent deal by mid-August and pull back on trade restrictions. Treasury Secretary Scott Bessent said Tuesday on Fox Business' Mornings with Maria that he will be meeting with his Chinese counterparts in Stockholm next week to work on what is likely an extension of the Aug. 12 deadline. I think trade is in a very good place with China," Bessent told host Maria Bartiromo. Hopefully, we can see the Chinese pull back on some of this glut of manufacturing that they're doing and concentrate on building a consumer economy. He said he also expects to bring up China's purchases of Russian and Iranian oil and Beijing's role in aiding Moscow in its war against Ukraine. Beijing has not announced any travel plans for Vice Premier He Lifeng, who led trade negotiations in both Geneva and London on behalf of the Chinese government, but it is not unusual for China to make such announcements closer to a travel date. In a possible friendly gesture, Beijing on Tuesday said it suspended an antitrust investigation into chemical maker DuPont's operations in China. China's State Administration for Market Regulation made the announcement in a one-line statement but gave no explanation for the decision. DuPont said in a statement that it is pleased" with China's action. Chinese regulators launched the investigation in April against DuPont China Group, a subsidiary of the chemical giant, as part of Beijing's broad, retaliatory response to Trump's sky-high tariffs. Beijing also has agreed to approve export permits for rare earth elements and rare earth magnets that US manufacturers need to build cars, robots, wind turbines and other high-tech products. The US has eased restrictions on some advanced chips and other technologies.
Korea Herald
12 hours ago
- Business
- Korea Herald
Trump says China trip is 'not too distant' as trade tensions ease
WASHINGTON (AP) — President Donald Trump on Tuesday said a trip to China might be 'not too distant,' raising prospects that the leaders of the world's two largest economies may meet soon to help reset relations after moving to climb down from a trade war. Trump made the remarks while hosting Philippine President Ferdinand Marcos Jr. at the White House, where he praised the 'fantastic military relationship' with Manila as the US looks to counter China's influence in the Indo-Pacific region. Yet, Trump still said the US is 'getting along with China very well. We have a very good relationship.' He added that Beijing has resumed shipping to the US 'record numbers' of much-needed rare earth magnets, which are used in iPhones and other high-tech products like electric vehicles. Widely speculated about since Trump returned to the White House, a summit between Trump and Chinese President Xi Jinping would be expected to stabilize — even for a short while — a difficult relationship defined by mistrust and competition. Beijing believes a leader-level summit is necessary to steady US-China relations and that Trump must be wooed because he has the final say on America's policy toward China, despite more hawkish voices in his Cabinet, observers say. The question, however, is when. Danny Russel, a distinguished fellow at the Asia Society Policy Institute, said Trump has consistently shown his hunger for a visit to China and that Beijing has used that to bolster leverage. 'As soon as the leadership in Beijing is satisfied that Trump will be on his best behavior and will accept terms for a deal that they think are favorable, they will give a green light to the visit,' Russel said. Sun Yun, director of the China program at the Washington-based think tank Stimson Center, said a visit 'is in the making' with two sides likely to strike a trade deal. What Trump said might mean the visit would not be in September but 'potentially November, but still depends on whether they play ball on trade and other things we want,' Sun said. Trump's campaign to impose tariffs on other countries kicked off a high-stake trade war with Beijing. China raised tariffs on US goods to 125 percent in response to Trump's hiking the tax on Chinese goods to 145 percent. Both sides also imposed on each other harsh trade restrictions on critical products: China on rare earths, and the US on computing chips and jet engine technology. Trade tensions, however, eased following two rounds of high-level talks in Geneva and London, when the two sides agreed to lower tariffs — pending a more permanent deal by mid-August — and pull back on trade restrictions. Treasury Secretary Scott Bessent said Tuesday on Fox Business' 'Mornings with Maria' that he will be meeting with his Chinese counterparts in Stockholm next week to work on 'what is likely an extension' of the Aug. 12 deadline. 'I think trade is in a very good place with China,' Bessent told host Maria Bartiromo. 'Hopefully, we can see the Chinese pull back on some of this glut of manufacturing that they're doing and concentrate on building a consumer economy.' He said he also expects to bring up China's purchases of Russian and Iranian oil and Beijing's role in aiding Moscow in its war against Ukraine. Beijing has not announced any travel plans for Vice Premier He Lifeng, who led trade negotiations in both Geneva and London on behalf of the Chinese government, but it is not unusual for China to make such announcements closer to a travel date. In a possible friendly gesture, Beijing on Tuesday said it suspended an antitrust investigation into chemical maker DuPont's operations in China. China's State Administration for Market Regulation made the announcement in a one-line statement but gave no explanation for the decision. DuPont said in a statement that it is 'pleased' with China's action. Chinese regulators launched the investigation in April against DuPont China Group, a subsidiary of the chemical giant, as part of Beijing's broad, retaliatory response to Trump's sky-high tariffs. Beijing also has agreed to approve export permits for rare earth elements and rare earth magnets that US manufacturers need to build cars, robots, wind turbines and other high-tech products. The US has eased restrictions on some advanced chips and other technologies.
