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Yahoo
14-07-2025
- Business
- Yahoo
Dem report: China to seize global advantage from Trump international spending cuts
China will seize influence on the global stage as a result of the Trump administration's major cuts to international spending, according to a report published Monday by the Democratic staff on the Senate Foreign Relations Committee. Sen. Jeanne Shaheen (N.H.), the panel's top Democrat, commissioned the report as a wake-up call to her colleagues over the damage she says will be wrought by President Trump's policies six months into his term. The report comes as the Senate is considering a Trump administration rescissions package that would cut hundreds of billions in foreign funding. It also comes as Congress moves toward appropriations season; the House Appropriations Committee on Monday proposed a 22 percent funding cut for national security, Department of State, and related programs. 'I can't imagine that anybody who has a thoughtful strategy for how to address what's happening in the world would have done the kinds of actions this administration has done,' Shaheen said in a call Monday previewing the report. The report is based on open-source research, official staff travel, meetings with the Trump administration, foreign government officials, U.S. companies and international nongovernmental organizations. 'In private, our allies tell us that Chinese officials are gleeful, characterizing the United States as unreliable,' Shaheen wrote in the opening letter of the report. 'In some cases, China is filling the void we have left behind, buying up now-vacant radio frequencies to broadcast its propaganda to millions. But in many cases, Beijing is doubling down on its own long-term investments — in overseas infrastructure, critical minerals exploitation and exchange programs that bring foreign talent to Chinese universities — all while America withdraws.' The 91-page report covers cuts to foreign aid, economic assistance, democracy initiatives, free media and law enforcement. One case study includes U.S. budget cuts toward Africa and how they will impact efforts to develop the continent's exports of critical minerals. Trump has put a spotlight on Africa in the first six months of his term, brokering a peace agreement between the Democratic Republic of Congo and Rwanda that could provide access to that region's critical minerals; touting $2.5 billion in deals and commitments at the recent U.S.-Africa Business Summit in June; and hosting five West African leaders at the White House in July. But the Democratic report says the Trump administration's gutting of the U.S. Agency for International Development has disrupted tens of millions of dollars in funding for projects complementing the development of infrastructure surrounding critical mineral extraction. It highlighted the Lobito Corridor project, a railway that brings critical minerals from Congo and Rwanda to Angola for shipment across the Atlantic Ocean. China is working on a similar project called the TAZARA Railway, which would connect Tanzania and Zambia and allow for exports of critical minerals across the Indian Ocean. The TAZARA Railway 'includes Chinese political training and other soft power initiatives to export the Chinese Communist Party's authoritarian style of government. Whichever project is successful will dictate whether critical minerals flow towards the Atlantic Ocean and the United States or towards the Indian Ocean and China,' the report warns. The report also highlights the Trump administration's halting of funds for the Millennium Challenge Corporation (MCC) and specifically a $649 million infrastructure project in Indonesia, a Muslim-majority nation and regional leader that maintains ties with both the U.S. and China. The MCC funds projects in poor but stable countries to help drive new investment opportunities for American businesses. While the MCC funds were reinstated, the initial pause 'delayed the launching, opening, evaluation and signing of bids for significant procurements,' the report notes. 'Following consultations with Indonesian counterparts, Senate Foreign Relations Committee Minority Staff also concluded that the pause has damaged America's standing and credibility with leadership in Jakarta,' the report read. Shaheen, a centrist Democrat who has worked with Republicans in the past, is using the report to push GOP colleagues to help reverse cuts or save bipartisan initiatives that are on the chopping block with the Trump administration's rescissions request. 'I think there are some aspects of the report that we talk about where there's a real interest in seeing them continue — the Millennial Challenge Corporation is one of those, again, a Bush initiative that has been very effective,' Shaheen said in response to a question of whether any GOP lawmakers would get behind the report's recommendations. Shaheen also pointed out the Trump administration's request to cut 91 percent of funding for U.S.-led international narcotics and law enforcement programs as standing in direct opposition to the president's commitment to combat the opioid epidemic and proliferation of fentanyl. The report also highlights the administration's termination of funding for international law enforcement to target cyber crime emanating from Southeast Asia. In 2024, Americans suffered $13.7 billion in losses from cyber-related scams, a 66 percent increase from 2023, the report notes. 'I can't imagine that there's any serious strategy that eliminates that kind of international law enforcement activity if you're really serious about addressing what the PRC is doing,' Shaheen said, referring to the People's Republic of China (PRC). Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
14-07-2025
- Business
- The Hill
China to seize global advantage from Trump international cuts, say Dem report
China will seize influence on the global stage as a result of the Trump administration's major cuts to international spending, according to a report published Monday by the Democratic staff on the Senate Foreign Relations Committee. Sen. Jeanne Shaheen (N.H.), the panel's top Democrat, commissioned the report as a wake-up call to her colleagues over the damage she says will be wrought by President Trump's policies six months into his term. The report comes as the Senate is considering a Trump administration rescissions package that would cut hundreds of billions in foreign funding. It also comes as Congress moves toward appropriations season; the House Appropriations Committee on Monday proposed a 22 percent funding cut for National Security, Department of State, and Related Programs. 'I can't imagine that anybody who has a thoughtful strategy for how to address what's happening in the world would have done the kinds of actions this administration has done,' Shaheen said in a call Monday previewing the report. The report is based on open source research, official staff travel, meetings with the Trump administration, foreign government officials, U.S. companies and international non-governmental organizations. 'In private, our allies tell us that Chinese officials are gleeful, characterizing the United States as unreliable,' Shaheen wrote in the opening letter of the report. 'In some cases, China is filling the void we have left behind, buying up now-vacant radio frequencies to broadcast its propaganda to millions. But in many cases, Beijing is doubling down on its own long-term investments-in overseas infrastructure, critical minerals exploitation and exchange programs that bring foreign talent to Chinese universities-all while America withdraws.' The 91-page report covers cuts to foreign aid, economic assistance, democracy initiatives, free media and law enforcement. One case study includes U.S. budget cuts toward Africa and how that will impact efforts to develop the continent's exports of critical minerals. Trump has put a spotlight on Africa in the first six months of his term, brokering a peace agreement between the Democratic Republic of Congo and Rwanda that could provide access to that region's critical minerals; touting $2.5 billion in deals and commitments at the recent U.S.-Africa Business Summit in June; and hosting five West African leaders at the White House in July. But the Democratic report says the Trump administration's gutting of the U.S. Agency for International Development has disrupted tens of millions of dollars in funding for projects complimenting the development of infrastructure surrounding critical mineral extraction. It highlighted the Lobito Corridor project, a railway that brings critical minerals from DRC and Rwanda to Angola for shipment across the Atlantic Ocean. China is working on a similar project called the Tanzania-Zambia (TAZARA) railway that would allow for export of critical minerals across the Indian Ocean. The TAZARA project 'includes Chinese political training and other soft power initiatives to export the Chinese Communist Party's authoritarian style of government. Whichever project is successful will dictate whether critical minerals flow towards the Atlantic Ocean and the United States or towards the Indian Ocean and China,' the report warns. The report also highlights the Trump administration's halting of funds for the Millenium Challenge Corporation (MCC) and specifically a $649 million infrastructure project in Indonesia, a Muslim-majority nation and regional leader that maintains ties with both the U.S. and China. The MCC funds projects in poor but stable countries to help drive new investment opportunities for American businesses. While the MCC funds were reinstated, the initial pause 'delayed the launching, opening, evaluation and signing of bids for significant procurements,' the report notes. 'Following consultations with Indonesian counterparts, Senate Foreign Relations Committee Minority Staff also concluded that the pause has damaged America's standing and credibility with leadership in Jakarta,' the report read. Shaheen, a centrist Democrat who has worked with Republicans in the past, is using the report to push GOP colleagues to help reverse, or at least try and save some bipartisan initiatives that are on the chopping block with the Trump administration's budget cuts. 'I think there are some aspects of the report that we talk about where there's a real interest in seeing them continue – the Millennial Challenge Corporation is one of those, again, a Bush initiative that has been very effective,' Shaheen said in response to a question of whether any GOP lawmakers would get behind the report's recommendations. Shaheen also pointed out the Trump administration's request to cut 91 percent of funding for U.S.-led international narcotics and law enforcement programs as in direct opposition to the president's commitment to combat the opioid epidemic and proliferation of fentanyl. The report also highlights the administration's termination of funding for international law enforcement to target cyber crime emanating from Southeast Asia. In 2024, Americans suffered $13.7 billion in losses from cyber-related scams, a 66 percent increase from 2023, the report notes. 'I can't imagine that there's any serious strategy that eliminates that kind of international law enforcement activity if you're really serious about addressing what the PRC is doing,' Shaheen said.
Business Insider
06-07-2025
- Business
- Business Insider
U.S. firm to build $1.5B power line linking Angola, DRC
U.S.-based energy company HYDRO-LINK has announced plans to construct a 1,150-kilometre electricity transmission line connecting Angola and the Democratic Republic of the Congo (DRC), in a step toward regional energy integration. HYDRO-LINK announced plans to construct a 1,150 km electricity transmission line between Angola and the DRC. The $1.5 billion project aims to alleviate power shortages in the DRC's Copperbelt mining region. The project is expected to be completed by 2029, also creating regional industrial and employment opportunities. The project, valued at $1.5 billion, addresses persistent power shortages in the DRC's southeastern Copperbelt region, which hosts critical mineral mines. With Angola enjoying a surplus of energy at its hydropower sites, the line will connect those sites to the DRC's energy-hungry mining areas. According to HYDRO-LINK, the transmission line is scheduled for completion by 2029. While it is primarily designed to power mining operations, the line will also connect to load centres in both Angola and the DRC, supplying much-needed electricity for public use. 'The transmission line will promote regional energy integration, provide energy security to the DRC, support the development of industrial hubs for local manufacturing and mineral processing, and create thousands of local construction jobs,' said Paul Hinks, CEO and Chairman of HYDRO-LINK. The project has taken a major step forward with the signing of a Memorandum of Understanding (MoU) with the Government of Angola. HYDRO-LINK also signed an MoU with the Swiss-based Mitrelli Group, which joins as a major investor and partner, and another with U.S.-based Sargent & Lundy, which will provide engineering services for the project. All three agreements were signed in Luanda during the U.S.-Africa Business Summit. According to HYDRO-LINK, the project will serve African and American strategic interests. Other strategic project partners HYDRO-LINK signed a memorandum of understanding with the Swiss-based Mitrelli Group, which has decades of operational experience in Angola and joins the project as a major investor and partner. Additionally, the company formalized an agreement with Sargent & Lundy, a U.S.-based architecture, engineering, and design firm, which will provide engineering services for the transmission line.
The Hill
01-07-2025
- Business
- The Hill
African leaders torn over Trump 2.0
LUANDA, Angola — African leaders are torn in their dealings with the Trump administration, seeking to balance their desperate need for investment with deep frustrations over the U.S. president's rhetoric and actions toward the continent. That was the prevailing sentiment in Luanda, Angola, last week among the 3,000 attendees and 12 heads of state at the 17th annual U.S.-Africa Business Summit, hosted by the Corporate Council on Africa, an association of U.S. businesses. The record attendance and promotion plastered across the city — with billboards hyping the summit from the airport to the city's popular waterfront promenade — pointed to the bright side in U.S.-African economic ties, linking the world's fastest-growing continent with its largest source of capital. 'Bring us those deals,' Troy Fitrell, senior official for the Bureau of African Affairs, said to reporters at the conference, summing up the administration's message at the conference. The mutual excitement over dealmaking at the summit was tempered by frustrations with the Trump administration's immigration and trade policies, which threaten to undermine closer private-sector ties with the United States. 'We cannot accept visa bans, we cannot accept unfortunate tariffs with nothing to do with rules and regulations with the World Trade Organization,' African Union Commission Chair Mahmoud Ali Youssouf, the former foreign minister of Djibouti, said to loud applause in the opening session of the conference. Angola, which hosted the summit, has long been a focus of U.S. investment and Washington's attention. The port city of Lobito is the entry and exit point of a transcontinental railway bringing minerals from the Democratic Republic of the Congo and Zambia to the Atlantic coast. The Biden administration promised a $600 million loan to develop the so-called Lobito Corridor, but that money has yet to materialize, and it's unclear whether President Trump will follow through with the planned support. Still, Trump officials joined the Angolan government and multinational business executives in promoting their visions for expanded economic opportunities afforded by the rail line. Trump during his second term has increasingly sought to use America's economic leverage as both a carrot and stick in its attempts to influence African countries: promising profitable partnerships if conflicts come to an end, while rattling the saber of harsh tariffs if countries don't yield to U.S. pressure. Trump on Friday hosted the foreign ministers of Rwanda and the Democratic Republic of the Congo for the initial signing of a peace agreement — after Congo saw an opportunity to entice American mediation in exchange for access to the country's rich stores of critical minerals. Massad Boulos, father-in-law to Trump's daughter and the president's senior adviser for African affairs, tied the themes together during his speech to the conference. 'Meaningful economic growth can only take root in an environment defined by peace and stability,' he said. Speakers were not shy about their frustration over Trump's tariffs — with proposed import taxes ranging from 10 to 50 percent on countries across the continent — or travel bans on at least seven African countries and the elimination of hundreds of millions in aid dollars for health care, education and democracy building. African leaders also warned against the expiration of the African Growth and Opportunity Act (AGOA) in September, a preferential trade agreement with eligible sub-Saharan African countries. Other attendees brought up concerns about the Trump administration's plans to close embassies across the continent. Trump's disparaging remarks toward African nations have also been a concern. The president famously referred to 's—hole' countries in Africa during his first term, and he more recently referred to the tiny, landlocked nation of Lesotho as a place 'no one's ever heard of' in his address to Congress in March. The enthusiastic reception for the African Union Commission chair's fiery remarks reflected a broader disappointment with Trump's policies so far. 'The AU Commission chairperson, we elected him to speak his mind,' said former Ethiopian President Sahle-Work Zewde in a short interview on the sidelines of the conference. 'I believe he got a lot of applause because the way we see United States is really, we put it on a high pedestal. When sometimes you get some policy directives, you'd be very much surprised — why would a country that you very much revere, will consider some policy?' she said. But there was little appetite to roil relations with Washington. Most African leaders sought to avoid such direct criticism in their public comments, seeking to align themselves with Trump's desire to focus on investment. 'The role of the United States is inevitable given its unique role on a global scale,' said Angolan President João Lourenço in a keynote address opening the conference. Lourenço called for America's role to 'replace the logic of aid with the logic of ambition and private investment.' Trump invited Lourenço to visit Washington in July alongside the leaders of Congo and Rwanda for a signing ceremony in their peace agreement. Carla Sydney Stone, president of World Trade Center Delaware, has been coming to the summit for years. 'I would say that people here are very enthusiastic about doing business with Americans, Americans are well liked, from what I've seen,' she said in a proudly American booth, among dozens set up in air-conditioned tents at the summit. The gathering served as a counterpoint to the usual news about Africa, Stone added. 'There's not a lot of good information coming out of the press, it's a lot of negative, it doesn't talk about the economic opportunities here,' Stone told The Hill. Attendees networked while munching on pastries, fruit, fresh-squeezed juice and made-to-order espresso. Panels featured remarks from some of America's biggest brands, including Bank of America, Boeing, Mastercard and Coca Cola. Conversations flowed at long banquet tables facing Luanda's harbor, with overloaded platters fish, meat and desserts. 'It helps to have a trusted partner here, that's very important,' Stone said. 'Relationships matter not just in Africa, they matter all over the world. It's not a completely transactional society. American business tends to be more focused on the transaction rather than the longer term.' Still, the summit was largely about celebrating deals. To list a few: On hand for these signings was a U.S. delegation that included Fitrell and Boulos, along with Tamara Maxwell, acting senior vice president of small business for the Export-Import Bank of the U.S.; Thomas Hardy, director of policy and program management at the U.S. Trade and Development Agency; and Conor Coleman, head of investments at the U.S. International Development Finance Corporation. Haim Taib, founder and president of the Mitrelli Group, which is working on building a Lobito Corridor platform to take advantage of the rail line, said the U.S. delegation wasn't good enough. 'I expect a little bit more, at least some very high positions to come here. But it's OK,' Taib said. 'Businessmen, I saw a lot,' he said, but he argued U.S. policies toward Africa were throttling serious interest from American investors. 'I think it's important to change the policy in favor of Africa, then it would give more confidence to American investors to come to Africa to invest. Today it's almost impossible to come here.' Corruption and lack of infrastructure are some of the most often cited barriers to entry for foreign investment, particularly from America. Taib is supportive of Trump's suspension of the Foreign Corrupt Practices Act, which sought to discourage extortion by making it illegal for U.S. businesses to pay bribes in foreign countries. But the executive said the administration should issue clearer, updated guidance that distinguishes between systematic misconduct and malign intent, or practices often seen as the price of doing business in Africa. Sukusu Souza Templar, director general of the clean energy company Ohm Watt Energies in Congo, said he wanted to see American promotion of anti-corruption efforts. 'To make it profitable to the people of [Congo], don't only send the aid or the funds without making sure that the funds will really benefit the people who really need it,' he said in an interview. 'Don't only bring us money, bring us knowledge, bring us expertise,' he said. 'Train the local people to be better, train the local people to transform their country, train the local people how to lead. Train local people in business, politics, in university. We can produce money as well, but we need knowledge to maintain money.' Historically, U.S. efforts to promote good governance, education, access to technology and professional training have been carried out by the U.S. Agency for International Development, which Trump has effectively shut down months into his second term. Yet Templar put a positive spin on those cuts and other controversial Trump policies. 'When he bans African countries to the U.S. we cannot only see it from the negative side. Let's look at it from the positive side,' he said, explaining that African leaders would be pressured to improve their countries, or 'make your home comfortable.' He pointed to Trump's efforts to resolve the war between Congo, Rwanda and the various armed groups embroiled in a three-decade conflict. 'If President Trump is bringing peace with his administration, who do you want us to see greater than him? No one.'
Straits Times
24-06-2025
- Business
- Straits Times
US envoy plays down Africa tariff, visa concerns, reaffirms Lobito rail commitment
LUANDA - The top U.S. diplomat for Africa on Tuesday dismissed allegations of unfair U.S. trade practices and said that funding delays would not derail a key railway project connecting Angola, Zambia and the Democratic Republic of Congo. African Union officials on Monday questioned how Africa could deepen trade ties with the United States under what they called "abusive" tariff proposals and tightening visa conditions largely targeting travellers from Africa. "There is no visitation ban," Ambassador Troy Fitrell said during a press conference at the U.S.-Africa Business Summit in Luanda. He said that U.S. consulates continue issuing visas regularly, although some now come with shorter validity periods due to concerns over overstays. Several African business and political leaders have raised concerns about a sharp drop in visa approvals, particularly for travellers from West Africa, since late 2023. Washington's tariff plans have also added to cooling diplomatic ties with African countries, as some economies — including Lesotho and Madagascar — warned that even a baseline 10% levy could threaten critical exports such as apparel and minerals. But Fitrell said that the proposed U.S. import tariffs were not yet implemented, and negotiations were ongoing to create a more reciprocal trading environment, including through the renewal of the African Growth and Opportunity Act (AGOA). The initiative grants qualifying African nations duty-free access to the U.S. market and is due to expire in September. Fitrell also reaffirmed his country's commitment to the Lobito Corridor railway project, which links Angola's coast to copper-rich Zambia and the Democratic Republic of Congo. "It's not at risk," he said of the initiative, describing it as a "win-win" for U.S. investors and African economies, and underscoring its significance for regional integration. The Trump administration has axed swaths of U.S. foreign aid for Africa, as part of a plan to curb spending it considers wasteful. Angolan President João Lourenço, addressing more than 2,000 government and business leaders at the summit, said U.S. companies should shift from aid to investment-driven partnerships. "It is time to replace the logic of aid with the logic of investment and trade," Lourenço said, urging diversification into sectors such as automotive manufacturing, shipbuilding, tourism, cement, and steel production. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
