logo
US, Japan, India, Australia pledge mineral cooperation on China jitters

US, Japan, India, Australia pledge mineral cooperation on China jitters

Business Times18 hours ago
[WASHINGTON] The United States, Japan, India and Australia pledged on Tuesday to work together to ensure a stable supply of critical minerals, as worries grow over China's dominance in resources vital to new technologies.
US Secretary of State Marco Rubio welcomed his counterparts from the so-called 'Quad' to Washington in a shift of focus to Asia, after spending much of his first six months on the wars in Ukraine and the Middle East and on President Donald Trump's domestic priorities such as migration.
The four countries said in a joint statement that they were establishing the Quad Critical Minerals Initiative, aimed at 'collaborating on securing and diversifying' supply chains.
They offered little detail but made clear the goal was to reduce reliance on China, which has used restrictions as leverage as the United States in turn curbs its access to semiconductors and as Trump threatens steep tariffs - including on Quad countries.
'Reliance on any one country for processing and refining critical minerals and derivative goods production exposes our industries to economic coercion, price manipulation and supply chain disruptions,' the statement said.
The ministers were careful not to mention China by name but voiced 'serious concerns regarding dangerous and provocative actions' in the South China Sea and East China Sea that 'threaten peace and stability in the region.'
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
China holds major reserves of several key minerals including the vast majority of the world's graphite, which is crucial for electric vehicles.
In brief remarks alongside the other ministers, Rubio said he has 'personally been very focused' on diversifying supply chains and wanted 'real progress.'
US refocus on Asia
The four-way partnership was first conceived by late Japanese prime minister Shinzo Abe, who saw an alliance of democracies surrounding China - which has repeatedly alleged that the Quad is a way to contain it.
Rubio had welcomed the Quad foreign ministers on January 21 in his first meeting after Trump's inauguration, seen as a sign the new administration would prioritise engagement with like-minded countries to counter China.
But to the surprise of many, China has not topped the early agenda of Trump, who has spoken respectfully about his counterpart Xi Jinping and reached a truce with Beijing to avoid a wider trade war between the world's two largest economies.
Trump is expected to travel to India later this year for a Quad summit.
Both the Indian and Japanese foreign ministers said that they wanted the Quad to focus on a 'free and open Indo-Pacific' - a phrasing that is a veiled allusion to opposing Chinese dominance in Asia.
'It is essential that nations of the Indo-Pacific have the freedom of choice, so essential to make right decisions on development and security,' Indian Foreign Minister Subrahmanyam Jaishankar said.
At Jaishankar's urging, the Quad condemned a May attack on the Indian side of Kashmir that killed mostly Hindu civilians and called for 'the perpetrators, organizers and financiers of this reprehensible act to be brought to justice without any delay.'
India in May launched air strikes in Pakistan, which it blamed for the attack. Pakistan denied responsibility and responded with its own attacks on the Indian military.
In a key concern for Japan, the Quad condemned North Korea for its 'destabilizing launches' of missiles and insisted on its 'complete denuclearisation.'
Trump, in one of the most startling moves of his first term, met with North Korea's reclusive leader Kim Jong Un, helping ease tensions but producing no lasting agreement.
Despite common ground on China, Quad members have differed on other hotspots, with the joint statement not mentioning Ukraine or Iran.
India has maintained its long relationship with Russia despite the invasion of Ukraine, while both India and Japan also have historically enjoyed cordial ties with Iran. AFP
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US judge blocks Trump asylum ban at US-Mexico border, says he exceeded authority
US judge blocks Trump asylum ban at US-Mexico border, says he exceeded authority

Straits Times

time44 minutes ago

  • Straits Times

US judge blocks Trump asylum ban at US-Mexico border, says he exceeded authority

Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: A drone view of the Rio Grande River between Mexico and the United States in Presidio County, Texas, U.S., February 24, 2025. REUTERS/Cheney Orr/File Photo WASHINGTON - A federal judge on Wednesday blocked President Donald Trump's asylum ban at the U.S.-Mexico border, saying Trump exceeded his authority when he issued a proclamation declaring illegal immigration an emergency and setting aside existing legal processes. U.S. District Judge Randolph Moss said in a 128-page opinion that Trump's January 20 proclamation blocking all migrants "engaged in the invasion across the southern border" from claiming asylum or other humanitarian protections went beyond his executive power. The ruling is a setback for Trump, a Republican who recaptured the White House promising a vast immigration crackdown. Since Trump took office, the number of migrants caught crossing illegally has plummeted to record lows. The American Civil Liberties Union brought the challenge to Trump's asylum ban in February, arguing it violated U.S. laws and international treaties. Trump's border restrictions went beyond a similar ban put in place by former President Joe Biden, a Democrat, in 2024. Key parts of the Biden ban were blocked by a separate federal judge in May in a lawsuit also led by the ACLU. Moss said he would stay the effective date of his order for 14 days to allow the Trump administration to appeal. REUTERS

IOI starts previews for 683-unit W Residences Marina View luxury project
IOI starts previews for 683-unit W Residences Marina View luxury project

Business Times

time2 hours ago

  • Business Times

IOI starts previews for 683-unit W Residences Marina View luxury project

[SINGAPORE] IOI Properties Group, which began marketing its luxury-branded residences project W Residences Marina View Singapore in late June, is expected to book sales on Jul 12. Located in Marina View, the 683-unit project will sit atop the 360-room W hotel, the Marriott group's second W hotel in Singapore after the one on Sentosa, called W Singapore Sentosa Cove. The project is next to the Shenton Way MRT on the Thomson-East Coast line. In response to queries from The Business Times, IOI said: 'The private preview for invitees presents a rare opportunity to experience first-hand the exceptional value this development brings to the branded residences market. This is achieved without compromising on quality, prime location or the exclusive privileges synonymous with the W brand, managed by Marriott International – the global leader in branded residences.' The marketing materials seen by BT indicate that the 99-year leasehold development comprises 171 one-bedroom units, 310 two-bedroom units, 103 three-bedroom units, 32 four-bedroom units, 64 five-bedroom units, two simplex penthouses and one duplex penthouse. Listings on PropertyGuru show that one-bedroom units, at 538 to 570 sq ft in size, start at over S$2.1 million. The two-bedroom units, at 710 to 850 sq ft, are expected to be priced from S$2.8 million, and the three-bedders, at 1,195 to 1,249 sq ft, from S$5.4 million. The four-bedders spanning 2,250 sq ft start at S$13 million, and the five-bedders, at 2,809 sq ft, are listed for sale from S$16 million. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up On a per-square-foot (psf) basis, prices are estimated to range from about S$3,800 to around S$6,000 psf. Prices are not available for the penthouses, but BT understands that each penthouse is above 5,000 sq ft in size. W Residences Marina View Singapore is expected to achieve its Temporary Occupation Permit in 2029. In 2021, IOI was the sole bidder for the white site, which it bought for S$1.508 billion or S$1,379 psf ppr, after triggering the release of the plot from the government land sales reserve list. IOI's bid was just S$101 more than the minimum price it committed to paying when it applied for the site. The site was estimated to be able to supply 905 private housing units and 540 hotel rooms. In June 2022, IOI received provisional permission for a 307-room hotel, 748 apartments for sale and 2,000 sq m in gross floor area of retail space on the land parcel. Market talk had it that in 2023, the developer tweaked plans for the project, reducing the number of apartments to 683, and raising the number of hotel rooms to 360. This followed the government's rolling out of a set of cooling measures in April that year, including sharply higher ABSD (Additional Buyer's Stamp Duty) rates for foreign buyers and investment buyers. Last year, IOI completed the Grade-A IOI Central Boulevard Towers, a mixed-use development in Marina Bay nearby, which comprises two Grade-A office towers and a seven-storey retail podium. One of Malaysia's largest property developers, IOI recently announced plans to acquire the remaining 50.1 per cent stake in the South Beach development it built with its joint venture partner, City Developments (CDL). IOI's portfolio of high-end residential properties also include Seascape and Cape Royale, condominium developments in Sentosa Cove which were developed in partnership with Ho Bee Land. The W Residences is the second residential project to be launched in the Marina area. In April 2025, One Marina Gardens in Marina South sold 353 units or about 38 per cent of its 937 units over its launch weekend, amid concerns about a trade war and potential global recession intensifying. The units were sold at an average selling price of S$2,953 psf. W Residences Marina View Singapore's launch comes in a month in which at least seven major projects are expected to come onto the market, several of which will also be in the Core Central Region (CCR). On Wednesday (Jul 2), Frasers Property and Sekisui House opened The Robertson Opus along Unity Street for a private preview. Prices there start at S$3,150 psf.

US senator urges bribery probe over Trump-Paramount settlement
US senator urges bribery probe over Trump-Paramount settlement

Straits Times

time3 hours ago

  • Straits Times

US senator urges bribery probe over Trump-Paramount settlement

Sign up now: Get ST's newsletters delivered to your inbox Massachusetts Senator Elizabeth Warren, a Democrat, has called for a full investigation into Paramount's reported US$16 million settlement with US President Donald Trump. WASHINGTON - A US senator renewed calls July 2 for a bribery probe into Paramount following its reported US$16 million (S$20 million) settlement with President Donald Trump over a lawsuit the entertainment giant initially described as meritless. The president had sued the CBS News parent company for US$20 billion, claiming its 60 Minutes programme had deceptively edited an interview with his 2024 election rival Kamala Harris in her favour. The suit is described by Mr Trump's critics as part of a broader assault on press freedom that has seen him bar the Associated Press from the Oval Office and sue other media organisations over their coverage. Paramount nevertheless entered into mediation in a bid to placate Mr Trump, as it seeks to close its US$8 billion merger with the entertainment company Skydance, which needs federal government approval. 'With Paramount folding to Donald Trump at the same time the company needs his administration's approval for its billion-dollar merger, this could be bribery in plain sight,' said Massachusetts Senator Elizabeth Warren, a Democrat. 'Paramount has refused to provide answers to a congressional inquiry, so I'm calling for a full investigation into whether or not any anti-bribery laws were broken.' Ms Warren was among three senators who wrote to Paramount Global chair Shari Redstone in May with bribery concerns over the company's efforts to settle the suit, and calling for a congressional probe. Top stories Swipe. Select. Stay informed. Singapore Singapore and Cambodia to expand collaboration in renewable energy, carbon markets and agri-trade World Trump announces Vietnam trade deal with 20% import tariff Singapore From camping to mentorship, Singapore Scouts mark 115th anniversary of the youth movement Singapore Ong Beng Seng's court hearing rescheduled one day before he was expected to plead guilty World Sean 'Diddy' Combs convicted on prostitution counts but cleared of more serious charges Singapore Teen, 17, to be charged with allegedly trespassing on MRT tracks Singapore Granddaughter of Hin Leong founder O.K. Lim fails to keep 3 insurance policies from creditors' reach Singapore Man on trial for raping drunken woman after offering to drive her and her friend home Republicans control both chambers of Congress, limiting the power of Democrats to investigate or compel answers from witnesses. The senators' letter came after CBS News head Wendy McMahon and 60 Minutes executive producer Bill Owens announced they were quitting over Paramount's handling of the showdown with Mr Trump. 'Paramount's surrender' The company – which did not immediately respond to AFP's request for comment – initially called the suit 'completely without merit' and had sought to have it dismissed. 'The Trump administration's level of sheer corruption is appalling and Paramount should be ashamed of putting its profits over independent journalism,' Ms Warren added. Mr Trump accuses CBS of airing two different snippets from the same answer that Ms Harris, then vice-president, gave about Israel, to help her in her election campaign. The Republican billionaire sued in October 2024, alleging that the interview violated a Texas consumer protection law. Legal experts have argued that the lawsuit would have been an easy victory in court for CBS, which made public an unedited transcript of the Harris interview. And media watchers have pointed out that Mr Trump routinely takes part in interviews that are edited for all manner of reasons, often in his favour. The US$16 million will go towards Mr Trump's future presidential library rather than to him personally, according to a Paramount statement published by the Los Angeles Times on July 1. ABC News, owned by Disney, agreed to donate a similar amount to the library in its own settlement with Mr Trump in late 2024. Mr Jameel Jaffer, executive director of the Knight First Amendment Institute at Columbia University, called the settlement 'a sad day for press freedom.' 'This was a frivolous lawsuit and the payment being described as a 'settlement' bears no relation to Paramount's actual legal exposure in the case, which was negligible,' he said in a statement. 'Paramount should have fought this extortionate lawsuit in court, and it would have prevailed. Now Trump's presidential library will be a permanent monument to Paramount's surrender, a continual reminder of its failure to defend freedoms that are essential to our democracy.' AFP

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store