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The Star
7 days ago
- Business
- The Star
Reaction to U.S. trade deal with Japan
FILE PHOTO: Containers on a cargo ship are pictured at an industrial port in Tokyo, Japan, July 2, 2025. REUTERS/Kim Kyung-Hoon/File Photo (Reuters) -President Donald Trump on Tuesday said the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the country. In a post on Truth Social, Trump said the deal would include $550 billion of Japanese investments in the United States. COMMENTS HIROFUMI SUZUKI, CHIEF CURRENCY STRATEGIST, SMBC, TOKYO: "This is good news for the Japanese economy. However, it alone will not prompt the Bank of Japan to raise interest rates, and the pressure to buy yen will likely be limited. If anything, political instability is having more of an impact on the market, and the pressure for yen depreciation is likely to continue." (Reporting by Reuters Asia bureaus; Compiled and edited by Subhranshu Sahu)
The Star
7 days ago
- Automotive
- The Star
Trump says trade deal struck with Japan includes 15% tariff
Containers are pictured at an industrial port in Tokyo, Japan, July 2, 2025. REUTERS/Kim Kyung-Hoon/File Photo WASHINGTON (Reuters) -President Donald Trump on Tuesday said the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the country. In a post on Truth Social, Trump said the deal would include $550 billion of Japanese investments in the United States. He also said that Japan would increase market access to American producers of cars, trucks, rice and certain agricultural products, among other items. Trump's post made no mention of easing tariffs on Japanese automobiles, which account for more than a quarter of all the country's exports to the United States and are subject to a 25% tariff. Reuters could not immediately confirm the elements of the deal announced by Trump, and details were scant. The White House did not immediately respond to a request for additional details, while the Japanese foreign ministry did not immediately respond to a request for comment on Trump's announcement. "This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan," Trump said. Trump's announcement follows a meeting with Japan's top tariff negotiator, Ryosei Akazawa, at the White House on Tuesday, according to a person familiar with the matter. (Reporting by Trevor Hunnicutt and Jasper Ward; Editing by Lincoln Feast.)
Hindustan Times
20-07-2025
- Automotive
- Hindustan Times
Honda and Nissan to co-develop car software platform: Report
Since August 2024, Nissan and Honda have been investing in research for next-generation automotive software. The new strategy extends beyond the infotainment systems, aiming for an all-encompassing digital platform that will form the foundation for next-generation models of both brands. (REUTERS/Kim Kyung-Hoon) Check Offers Earlier this year, merger discussions between Japanese auto giants Nissan and Honda collapsed, halting what could have been one of the most significant consolidations in the global auto industry. While that ambitious plan has now been shelved, both companies are opting for a more focused, less dramatic collaboration, a report by Nikkei Asia The new strategy focuses on co-developing software platforms for next-generation vehicles — a strategic shift designed to position itself as relevant in an age rapidly driven by software-defined vehicles and connected mobility. This union, if not quite an alliance, indicates an increased sense of urgency to rethink the manufacturing of and experience with vehicles. Evidence of this collaboration first may be seen in production cars later in this decade as it begins a transition away from mechanical hardware and toward software ecosystems as the new turf of competitiveness. Building a shared software core Since August 2024, Nissan and Honda have been investing in research for next-generation automotive software. The new strategy extends beyond the infotainment systems, aiming for an all-encompassing digital platform that will form the foundation for next-generation models of both brands. At the heart of this initiative is the ambition to standardize elements like electric motors and semiconductors — technologies that will form the heart of their common architecture. Also Read : 2026 Nissan Patrol Nismo unveiled as the most powerful version ever. Check details One of the primary benefits of this internal strategy is ownership of data. Instead of depending on external suppliers of digital systems, Honda and Nissan desire to own the user data created through vehicle systems — an asset that's ever-more valuable in the future automotive economy. This would facilitate more nimble development, enhance product feedback loops, and enable future monetization via software-based services. But the project does not come cheap. Development of this shared software architecture could cost more than $10 billion, estimates say. The long-term payoff, however, might be in the form of repeat business, as brands move toward charging for software updates and upgrades — a model some EV makers already follow. Responding to China's digital push This shift toward a common digital future is also underscored by a more immediate threat: the increasing prominence of Chinese EV brands in vehicle software and connectivity. Among some of the cheapest Chinese electric models are now digital systems that are competitive — and in some instances, superior — to those in premium offerings by traditional automakers. For Nissan and Honda, it is not about software but survival. The emergence of software-led automotive design has taken many established players by surprise, and both Japanese manufacturers have accepted that they must speed up their digital revolution. Consumer demands are changing fast, and convenient user experiences and connected services have become the minimum requirements instead of niceties. Also Read : Honda City Hybrid gets a price cut, more affordable by ₹ 1 lakh A collaborative step toward catching up In the short-term, Nissan and Honda will continue working on their respective software platforms for future models. Eventually, however, it looks like the goal is to introduce a shared core system, topped with brand-specific interfaces. This would be similar to the tactics adopted in the smartphone sector, where ordinary operating systems still provide bespoke user experiences. Rather than competing on past strengths, both brands agree that there will need to be a focus on building smarter cars from scratch. Whether this software partnership provides the margin of innovation required to keep pace with fast-moving competitors — especially from China — remains to be seen, but it is a needed directional correction in an era where digital leadership more than ever determines brand significance. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 20 Jul 2025, 11:00 am IST
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First Post
15-07-2025
- Business
- First Post
China beats forecast with 5.2% growth in April-June quarter, experts decode what it means
Even as China beat expectations to grow 5.2% in the April-June quarter, experts pointed out that retail sales and investment remained lower than expected, but industrial output was surprisingly positive. They said the economy's future trajectory is now up to Chinese policy support and developments in the tariff war. read more People make their way at Ameyoko shopping district in Tokyo, Japan, May 20, 2022. REUTERS/Kim Kyung-Hoon/ File China's economy grew at a slightly faster pace than expected in the second quarter, showing resilience in the face of US tariffs, though analysts warn of intensifying headwinds that will ramp up pressure on policymakers to roll out more stimulus. Data on Tuesday showed China's gross domestic product (GDP) grew 5.2 per cent in the April-June quarter from a year earlier, slowing from 5.4 per cent in the first quarter, but just ahead of analysts' expectations in a Reuters poll for a rise of 5.1 per cent. STORY CONTINUES BELOW THIS AD Key points Q2 GDP +5.2 per cent year on year (forecast +5.1 per cent, Q1 +5.4 per cent) Q2 GDP +1.1 per cent quarter on quarter (forecast +0.9 per cent, Q1 +1.2 per cent) June industrial output +6.8 per cent year on year (forecast +5.7 per cent, May +5.8 per cent) June retail sales +4.8 per cent year on year (forecast +5.4 per cent, May +6.4 per cent) H1 fixed asset investment +2.8 per cent year on year (forecast +3.6 per cent, Jan-May +3.7 per cent) H1 property investment -11.2 per cent year on year (Jan-May -10.7 per cent) Market Reaction China's blue-chip CSI300 Index reversed course to trade flat, while Hong Kong's benchmark Hang Seng cut gains after the data came in. The CSI 300 index was down 0.1 per cent, while the Hang Seng was up 0.7 per cent. Ben Bennett, Head of Investment Strategy for Asia, L&G Asset Management, Hong Kong 'Retail sales and investment were lower than expected, but industrial output surprised positively, so policymakers will likely be happy with the overall outcome. Some investors might be disappointed that this doesn't signal the need for more immediate stimulus. U.S. tariffs remain a major headwind, but Chinese policymakers won't feel the need to offset this if economic growth remains strong.' More from World Just weeks before Air India crash, UK regulator flagged fuel switch issues in Boeing jets: Report Lisheng Wang, China Economist, Goldman Sachs, Hong Kong 'With H1 real GDP growth averaging 5.3% y/y, we do not think policymakers have the urgency to launch broad-based, significant stimulus at the July Politburo meeting. Instead, we expect incremental, targeted easing to help stem the property downturn and mitigate labour market pressures in H2.' Alex Loo, Macro Strategist, TD Securities, Singapore 'Market reaction was more muted as it was a mixed slate of data… Focus now shifts to the July Politburo meeting which will convene on economic issues. We expect the discussion to be centred on the property sector after a string of poor housing data and different onshore media leaks that revolved around potential property stimulus. 'We doubt new fiscal stimulus is on the agenda given the remarkable economic growth in H1 and officials will likely prefer to be on a wait-and-see mode and monitor trade developments after the August U.S.-China truce deadline.' Shane Oliver, Chief Economist, AMP, Sydney 'Overall, it's OK, it's just enough to keep the economy growing around the target pace of 5%. The economy is growing, but it's not fantastic, but it's still growing and I think from a policy point of view, authorities will continue to do just enough to keep it ticking over and will not do more.' STORY CONTINUES BELOW THIS AD Tony Sycamore, Analyst, IG, Sydney 'It's not a bad number. I mean it's a lot better than where we thought things were gonna be back in April, but in terms of retail sales, just a little bit of a miss there. Combined with the CPI number we saw last week and the balance of trade, it's probably not going to upturn the apple cart too greatly today. 'Probably it looks like the Chinese economy is still muddling through. And I like the fact that the deflationary spiral last week looks like ended with that better inflation data that we saw.' Christopher Wong, Currency Strategist, OCBC, Singapore 'The Chinese economic and growth data was mixed, with industrial production surprising to the upside despite persistent property sector weakness. There was only modest impact on the yuan, partly reflecting policymakers' intent to pursue stability in the yuan. The focus next will be on details of China's policy support and tariff developments.' STORY CONTINUES BELOW THIS AD Dan Wang, China Director, Eurasia Group, Singapore 'Industrial production remains the key growth driver, but it's highly automated and doesn't generate jobs. Q3 growth is at risk without stronger fiscal stimulus. Consumption is weaker than expected — momentum from the trade-in programme has faded, and housing remains a drag with low transaction volumes. '(U.S. President Donald) Trump's tariffs hit exporters hard, triggering SME bankruptcies and damaging sentiment. Both consumers and businesses have turned more cautious, while exporters are increasingly looking overseas for growth.' Jeff Ng, Head of Asia Macro Strategy, SMBC, Singapore 'The market reaction was quite muted because of the fact that expectations were already there for China to grow by more than 5%. 'Growth has been supported by front-loading… (but) I think we're still staring at a slowdown once the tariffs come into fruition. 'The domestic economy and retail sales, of course, it'll still be dragged by concerns. The sentiment isn't that great, but at least I see some signs of it bottoming out.' STORY CONTINUES BELOW THIS AD Background US. President Donald Trump's global trade war has added a significant new layer of risk for China's economy, which has been struggling to mount a solid recovery due to a prolonged property crisis, deflationary pressures and low consumer confidence. The world's second-biggest economy has so far avoided a sharp slowdown this year due partly to a fragile U.S.-China trade truce and policy support measures. China's exports regained some momentum in June while imports rebounded, as firms rushed out shipments to capitalise on the tariff truce between Beijing and Washington ahead of a looming August deadline. Beijing has ramped up infrastructure spending and consumer subsidies, alongside steady monetary easing. In May, the central bank cut interest rates and injected liquidity as part of broader efforts to cushion the economy from Trump's trade tariffs. But analysts say stimulus alone may not be enough to tackle entrenched deflationary pressures, with producer prices in June falling at their fastest pace in nearly two years. China has set an ambitious 2025 growth target of 'around 5%', though the trade war with the United States has already prompted many analysts to sharply downgrade their GDP forecasts for this year. For the whole of 2025, China's GDP growth is forecast to cool to 4.6% - falling short of the official goal - from last year's 5.0% and ease further to 4.2% in 2026, according to a Reuters poll. (This is an agency copy. Except for the headline, the copy has not been edited by Firstpost staff.)
Straits Times
06-06-2025
- Politics
- Straits Times
US military's logistics drill aims to burnish East Asia crisis response
U.S. Navy aircraft carrier USS George Washington is pictured during Freedom Edge trilateral exercise among United States, Japan and South Korea in the East China Sea, south of the Korean peninsula and west of Japan's main islands November 14, 2024. REUTERS/Kim Kyung-Hoon/File Photo TAIPEI - Drills in East Asia this summer by the U.S. military body charged with moving munitions and equipment will help it better coordinate and communicate with allies in response to a crisis, its commander said on Friday. Alarmed by growing Chinese assertiveness, whether in the disputed South China Sea or around Chinese-claimed Taiwan, Washington and its friends in the region have been drilling together regularly. The U.S. Transportation Command, or TRANSCOM, is responsible not only for coordinating the pre-positioning of weapons and other equipment around the world by land, air and sea, but also for resupply in the event of conflict. On a visit to East Asia, TRASNCOM Commander Randall Reed, told reporters it was essential to maintain and expand ties in the region so as to ensure a swift U.S. response to disasters and counter threats to peace and security. "We're going to have a series of exercises and will test the current logistics architecture and infrastructure which provides sustained freedom of manoeuvre," he said on a teleconference, without giving further details of location or timing. "We're seeking to demonstrate our ability to rapidly mobilise, then deploy forces from within the United States to locations throughout the region here," Reed added, describing the aim of one exercise, Mobility Guardian. The tasks will permit testing of tactics, techniques and procedures with allies and partners and enhance connectivity, he said. "It will help us deepen relationships and work together even more closely than we already are to bolster regional security." On his trip, Reed has visited Japan and the Philippines and will go to South Korea, all treaty allies of the United States. The militaries of the Philippines and the United States have sailed together in the South China Sea for a seventh time to boost interoperability between the two sides, Manila's armed forces said on Thursday. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
