Still trying to crack the Chinese 'glass ceiling'
Malays on one side and non-Malays on the other.
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Malaysia Sun
4 minutes ago
- Malaysia Sun
China turns to BRICS partner for coffee
Beijing fast-tracked authorization for nearly 200 Brazilian firms after the US slapped massive tariffs on the countrys products Beijing has authorized nearly 200 Brazilian companies to export coffee to the Chinese market amid escalating trade tensions between the South American nation and the US, according to the Chinese embassy in Brazil. The greenlight follows Washington's decision to impose a hefty tariff on Brazilian coffee and other goods. The 50% tariff, which took effect in late July, targets coffee and meat - two key sectors of Brazil's economy. The move comes amid the broader trade war launched by US President Donald Trump against multiple countries. "China has approved the authorization of 183 new Brazilian coffee companies to export to the Chinese market," the embassy said Saturday in a post, adding that the measure took effect on July 30 and will remain valid for five years. Brazil's Ministry of Industry and Foreign Trade has estimated that 35.9% of exports to the US will be affected by the tariffs, warning that annual losses could reach up to $14.5 billion. During the 2024/2025 crop year, Brazil exported 7.468 million bags of coffee to the US, making it the largest destination for Brazilian coffee exports, according to the Brazilian Coffee Exporters Council. The US accounted for 16.4% of Brazil's total coffee exports. In monetary terms, that amounted to $1.9 billion in coffee exports, along with $1.35 billion worth of meat. READ MORE: The BRICS hit back: Trumps old tricks meet new world China's growing appetite for coffee appears to align with its latest move to expand imports from Brazil. According to data from the International Coffee Organization, coffee consumption in China grew by 15% in the latest season. At the same time, the number of branded coffee shops in the country surged by 58% over the past 12 months, reaching 49,691 outlets, according to market intelligence firm Alegra Group. The rapid expansion signals China's emergence as a key growth market for global coffee producers. Trump has defended the steep tariffs on Brazilian goods, citing what he called a "witch hunt" against former President Jair Bolsonaro, despite the fact that the US ran a $6.8 billion trade surplus with Brazil in 2024. Trump had previously justified his trade policies by claims that he intended to correct trade imbalances. (
Free Malaysia Today
an hour ago
- Free Malaysia Today
Muhyiddin denies defending subsidies for foreigners
PN chairman Muhyiddin Yassin said the coalition's fundamental policy on subsidies has always been that they should be for Malaysians, not foreigners. PETALING JAYA : Perikatan Nasional chairman Muhyiddin Yassin has denied defending the distribution of government subsidies to foreigners, urging Prime Minister Anwar Ibrahim to furnish proof he had ever made such a statement. In a video posted on Facebook, Muhyiddin said Anwar's claim that he had made such a remark was slanderous. 'I have never said such a thing. From the beginning, our fundamental policy on subsidies has been that they are meant for Malaysians, not foreigners. 'I want to ask where Anwar read or heard that (purported statement), because there's definitely none. 'What was the source, and was it genuine or fake?' asked the Bersatu president. Earlier today, Sinar Harian quoted Anwar as saying that Muhyiddin had questioned the government for burdening foreigners when they had also made significant contributions to the country. The prime minister said the government had decided on targeted subsidies for electricity and RON95 petrol so that they could continue helping Malaysians while reducing the nation's fiscal deficit.
The Star
2 hours ago
- The Star
Malaysia, Philippines to strengthen strategic cooperation for Asean's future, says Anwar
KUALA LUMPUR: Malaysia and the Philippines are committed to strengthening strategic cooperation to ensure a more peaceful and united future for Asean, says Prime Minister Datuk Seri Anwar Ibrahim. In a Facebook post, Anwar said the commitment was among the matters discussed during a phone conversation with Philippine President Ferdinand Romualdez Marcos Jr on Wednesday (Aug 6). "The discussion also touched on peace and harmony in international waters and border areas, which are our shared priorities for regional stability," he said. Anwar said he also shared positive developments regarding the border negotiations between Thailand and Cambodia, which are expected to be finalised this Thursday through the consensus of the two countries' defence ministers during the Extraordinary General Border Committee (GBC) meeting here. The Prime Minister said the development marked another step forward in realising Asean's aspirations of becoming a peaceful, stable and prosperous region. Cambodian Defence Minister General Tea Seiha and acting Thai Defence Minister General Natthaphon Narkphanit, along with armed forces chiefs and government representatives of both countries, are expected to attend the GBC meeting. Thailand and Cambodia had agreed to implement a ceasefire effective midnight on July 28 following a special meeting chaired by Anwar at the Seri Perdana Complex in Putrajaya. – Bernama
