Latest news with #economic security
Bloomberg
13 hours ago
- Business
- Bloomberg
US, China Start Second Day of Talks for Tariff Truce Extension
US and Chinese officials started a second day of talks aimed at extending their tariff truce beyond a 90-day period that expires in two weeks and discussing ways to maintain trade ties while safeguarding economic security. Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent arrived before 10:30 a.m. in Stockholm for their third round of meetings in less than three months. The agenda includes giving more time for negotiations on issues including export controls and US levies tied to fentanyl trafficking, as well as Chinese purchases of sanctioned oil from Russia and Iran.
Japan Times
18 hours ago
- Business
- Japan Times
Foreign Ministry to set up economic security division
The Foreign Ministry said Tuesday that it will implement a large-scale organizational reform on Friday, including the establishment of an economic security division under the Economic Affairs Bureau. Through the new division, the ministry aims to better respond to issues related to economic security, such as the strengthening of supply chains for key minerals amid heightening U.S.-China tensions. Currently, the economic security policy office under the Foreign Policy Bureau's National Security Policy Division is in charge of economic security-related affairs. At the Economic Affairs Bureau, a general affairs division, which will take charge of comprehensive coordination concerning economic diplomacy, and an economic diplomacy strategy division, tasked with handling emerging issues, such as those linked to digital technologies and artificial intelligence, will also be established. The Western Europe Division and the Central and South Eastern Europe Division at the European Affairs Bureau will be reorganized into the first Europe division and the second Europe division. The second Europe division will have an office handling policies associated with Ukraine, Poland, the three Baltic states and three other nations so that issues pertaining to Russia's invasion of Ukraine are dealt with intensively. As part of efforts to better protect Japanese nationals abroad, the ministry will revamp the Japanese Nationals Overseas Safety Division under the Consular Affairs Bureau. Cases requiring emergency response, such as terrorist attacks and natural disasters, will be handled by a new division on emergency situations, while other cases involving the protection of Japanese expatriates will be dealt with by a new office for safety support. It will be the first time in 19 years for the ministry to carry out a large-scale organizational reform involving multiple bureaus. "At a time when the international community is going through changes, we hope to create an organizational structure capable of strategically and flexibly coping with medium- to long-term diplomatic issues," a ministry official said.
NHK
3 days ago
- Business
- NHK
Japan's trade negotiator to urge Trump to sign executive orders to cut tariffs
Japan's top negotiator for trade talks with the United States says the government intends to urge President Donald Trump to sign executive orders necessary to cut tariffs on Japanese imports at an early date. Economic Revitalization Minister Akazawa Ryosei made the remarks in an NHK news program on Saturday. Akazawa referred to the latest meeting in which Japan and the US reached an agreement on trade and tariffs. He said Trump is skilled at making deals with a style that presses for an answer. He said if Japan fell silent, that would be the end of it. So Akazawa raised his hand dozens of times, saying, "Mr. President, may I ask one more?" Akazawa stressed the significance of the agreement, saying Japan successfully lowered tariffs by 10 percentage points from the rate that had been scheduled to kick in on August 1. He said about 10 trillion yen in losses have been avoided. He also referred to a plan in which up to 550 billion dollars, or about 80 trillion yen, would be offered through government-affiliated financial institutions, including the Japan Bank for International Cooperation, for bilateral cooperation in economic security. The funds will be included in the category of investment, loans and loan guarantees. He said investment is expected to account for 1 or 2 percent of the total and that the Japanese government plans to accumulate the funds during Trump's term of office. Akazawa noted that what the government should do now is urge Trump to issue executive orders to lower the tariffs, not to draw up joint documents.
NHK
6 days ago
- Business
- NHK
Japan, EU agree on cooperation in defense, economic security
Leaders from Japan and the European Union have agreed on cooperation in the defense industry, economic security and other areas. Japanese Prime Minister Ishiba Shigeru met with European Council President Antonio Costa and European Commission President Ursula von der Leyen in Tokyo for about an hour on Wednesday. During the summit, Ishiba said Japan and the EU are partners sharing strong aspirations, and that he wants to work closely with the EU to uphold multilateralism and the free and open international order based on the rule of law. Costa said Japan is the EU's closest partner in the Indo-Pacific region. He stressed they have strong relations, sharing values and interests. The two sides agreed that the security of Europe and the Indo-Pacific is inseparable and that they should work together in areas such as the defense industry and cybersecurity. In economic security, they confirmed cooperation in strengthening critical minerals supply chains, among other fields. Japan and the EU reaffirmed that they will continue support for Ukraine and sanctions against Russia. They strongly condemned Russia's military cooperation with North Korea. The Japanese and EU leaders issued a joint statement including those agreements.
Yahoo
17-07-2025
- Business
- Yahoo
The college degree ‘safety premium' is almost gone—but mainly because so many non-grads have given up looking for work
For decades, a college degree was seen as a near-guarantee of better job prospects and economic security. But new analysis from Goldman Sachs reveals a striking reversal: The labor market for recent college graduates has weakened to the point where their traditional edge over non-degree peers is at historic lows. The team led by Goldman's chief economist Jan Hatzius asked themselves: Are recent college graduates having a hard time finding jobs? Well, yes: 'Recent data suggests that the labor market for recent college graduates has weakened at a time when the broader labor market has appeared healthy.' The team was able to draw out three long-term trends by comparing college grads' job-market performance to non-college grads, with suggestive findings about the so-called 'safety premium' of higher education. The shrinking 'safety premium' of a college degree The Goldman team found a narrowing gap in unemployment rates between recent college graduates and young workers without a degree. In May 2025, the unemployment rate for native-born college graduates aged 22–27 stood at 3.8%, up from the typical 3.3% seen during periods of full employment. Over the past year, the 12-month average for this group rose to 4.6%. But the real story is in the comparison: The unemployment 'safety premium' for college grads—how much less likely they are to be unemployed compared to non-degree peers—has shrunk to just -2.8 percentage points, well below the -4.1 point average in previous strong labor markets. This means that, while college grads are still less likely to be unemployed than non-degree holders, the advantage is now marginal. The gap is the smallest it's been in decades, raising questions about the enduring value of a college education in today's economy. Weak job-finding rates for grads Another troubling trend is the decline in job-finding rates for recent graduates. Historically, college grads could expect to find work more quickly than their non-degree peers. But over the past decade, this gap has compressed dramatically. In 2025, the job-finding rate for college grads is just 0.9 percentage points higher than for non-degree holders—a far cry from the 8.3 point gap seen in previous full employment periods. This compression is partly cyclical, reflecting a strong post-pandemic recovery in low-skill sectors like construction, manufacturing, and retail. But it's also structural: Industries that typically hire college graduates—such as information services, finance, and professional/business services—have seen sluggish job growth, making it harder for new grads to land jobs. Labor force participation: a mixed picture While the unemployment gap has narrowed, the participation gap has widened. Since 1997, young workers without a college degree have become much less likely to even look for work, with their participation rate dropping by seven percentage points, compared to a two-point decline for college grads. A growing share of young people in both groups are out of the labor force because they are in school—a positive sign for long-term outcomes. But among non-degree holders, there's a worrying rise in those not working because they are 'unable to work' for reasons other than disability, illness, retirement, or childcare. This group has doubled over the past 30 years, indicating that some of the improvement in non-degree unemployment rates may be due to discouraged workers dropping out of the labor force entirely. For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing. This story was originally featured on Solve the daily Crossword
