US stocks open lower on tariff jitters; Tesla down on Musk's political plans
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South China Morning Post
5 hours ago
- South China Morning Post
Trump admin restricts foreign ownership of US farmland amid China tensions
The Trump administration is tightening its grip on foreign ownership of farmland amid continuing concerns over Chinese investment in America's heartland. Advertisement The US Department of Agriculture will work with state lawmakers to end farmland purchases 'by nationals for countries of concern or other foreign adversaries', according to a press event on Tuesday. The USDA is also partnering with the US Treasury Department's Committee on Foreign Investment in the United States, or CFIUS, to review foreign purchases involving the farming industry. US farms are 'under threat from criminals, from political adversaries and from hostile regimes that understand our way of life as a profound and existential threat to themselves', Agriculture Secretary Brooke Rollins said at the event. Rollins said she is officially part of CFIUS as of Tuesday. US Agriculture Secretary Brooke Rollins peaks during a news conference to roll out the USDA'S National Farm Security Action Plan in Washington on Tuesday. Photo: AP The move comes as US-China tensions have reverberated across state and local politics in Middle America in recent years, sowing angst about Chinese investment.
South China Morning Post
6 hours ago
- South China Morning Post
Trump confirms August 1 deadline for tariffs on US trading partners with ‘no extensions'
President Donald Trump said on Tuesday that he would not extend an August 1 deadline for higher US tariffs to take effect on dozens of economies, a day after he appeared to signal flexibility on the date. While Trump imposed a sweeping 10 per cent tariff on goods from almost all trading partners in April, higher rates customised to dozens of economies were unveiled, then halted until July 9. But the US president this week again delayed their reimposition, pushing it back to August 1. Trump insisted that there would be no further delay in the tariffs. 'There will be no change,' he posted on social media. He added that levies would start being paid on August 1, in line with letters now being sent out to trading partners. 'No extensions will be granted,' Trump said.
The Standard
7 hours ago
- The Standard
Mandatory Provident Fund's first-half gains hit eight-year high
The average MPF account holder reportedly saw a paper profit of HK$24,213 between January and June. SING TAO
