
Impact analysis as tariff deadline looms
That is the last day of the 90-day reprieve Trump granted the world before implementing arbitrary tariffs.
Billed as RM9.73 for the 1st month then RM13.90 thereafters.
RM12.33/month
RM8.63/month
Billed as RM103.60 for the 1st year then RM148 thereafters.
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The Star
25 minutes ago
- The Star
China says BRICS not seeking 'confrontation' after Trump tariff threat
RIO DE JANEIRO: Prime Minister Datuk Seri Anwar Ibrahim attends the BRICS Leaders' Summit on Monday (July 7, 2025). - Photo: Bernama BEIJING (AFP): China said on Monday that BRICS, the grouping that also includes Brazil, Russia and India, was not seeking "confrontation" after US President Donald Trump vowed to impose an extra 10 per cent tariff on countries aligning with the bloc. "Regarding the imposition of tariffs, China has repeatedly stated its position that trade and tariff wars have no winners and protectionism offers no way forward," foreign ministry spokeswoman Mao Ning said. Trump said he would send the first tariff letters to various countries on Monday, days before his deadline for trading partners to reach a deal expires. He said on Sunday he would send a first batch of up to 15 letters, warning that US levies on imports would snap back to the high levels he set in April if countries failed to make agreements. And, in a post on his Truth Social network, he threatened a further 10 percent tariff on countries aligning themselves with the emerging BRICS nations, accusing them of "anti-Americanism" after they slammed his tariffs at a summit in Rio de Janeiro on Sunday. Conceived two decades ago as a forum for fast-growing economies, BRICS has come to be seen as a Chinese-driven counterbalance to US and western European power. However, Beijing defended the grouping on Monday as "an important platform for cooperation between emerging markets and developing countries". "It advocates openness, inclusivity and win-win cooperation," Mao said. "It does not engage in camp confrontation and is not targeted at any country," she said. - AFP


The Sun
29 minutes ago
- The Sun
Euro zone bond yields rise as U.S. tariff deadline looms
LONDON: Euro zone long-dated bond yields inched higher on Monday as investors turned their attention to the looming U.S. tariff deadline, with officials hinting at a possible delay beyond July 9. Germany's 10-year Bund yields rose 2 basis points to 2.584%, while U.S. 10-year Treasury yields remained steady at 4.3379%. President Donald Trump stated on Sunday that the U.S. is nearing final trade agreements and will announce higher tariff rates by July 9, set to take effect on August 1. This has kept markets on edge, anticipating potential volatility as details on trade policies emerge. German two-year yields, sensitive to interest rate expectations, edged up slightly to 1.82%, hovering near a three-week low. Meanwhile, Italian 10-year yields increased by 2.3 basis points to 3.493%, widening the spread over German Bunds to 90 basis points, according to LSEG data. In the UK, the 10-year gilt yield held steady at 4.56%, still elevated after last week's sharp sell-off triggered by a reversal in planned welfare spending cuts. On a positive note, German industrial production exceeded expectations in May, driven by strong performance in the automotive and energy sectors, as reported by the federal statistics office. Later in the day, European Central Bank policymakers Joachim Nagel and Robert Holzmann are scheduled to speak, potentially offering further insights into monetary policy direction. - Reuters


Malay Mail
38 minutes ago
- Malay Mail
Beijing rejects Trump's tariff warning, says Brics promotes ‘win-win cooperation'
BEIJING, July 7 — China said today that Brics, the grouping that also includes Brazil, Russia and India, was not seeking 'confrontation' after US President Donald Trump vowed to impose an extra 10 per cent tariff on countries aligning with the bloc. 'Regarding the imposition of tariffs, China has repeatedly stated its position that trade and tariff wars have no winners and protectionism offers no way forward,' foreign ministry spokeswoman Mao Ning said. Trump said he would send the first tariff letters to various countries on Monday, days before his deadline for trading partners to reach a deal expires. He said on Sunday he would send a first batch of up to 15 letters, warning that US levies on imports would snap back to the high levels he set in April if countries failed to make agreements. And, in a post on his Truth Social network, he threatened a further 10 per cent tariff on countries aligning themselves with the emerging Brics nations, accusing them of 'anti-Americanism' after they slammed his tariffs at a summit in Rio de Janeiro on Sunday. Conceived two decades ago as a forum for fast-growing economies, Brics has come to be seen as a Chinese-driven counterbalance to US and western European power. However, Beijing defended the grouping on Monday as 'an important platform for cooperation between emerging markets and developing countries'. 'It advocates openness, inclusivity and win-win cooperation,' Mao said. 'It does not engage in camp confrontation and is not targeted at any country,' she said. — AFP