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Associated Press
21 minutes ago
- Associated Press
Can his golf course 'further' US-UK relations? Trump will use meeting with prime minister to try
EDINBURGH, Scotland (AP) — President Donald Trump once suggested his golf course in Scotland 'furthers' the U.S.-U.K. relationship. Now he's getting the chance to prove it. British Prime Minister Keir Starmer is meeting Monday with Trump at a golf property owned by the president's family near Turnberry in southwestern Scotland — then later traveling to Abderdeen, on the country's northeast coast, where there's another Trump golf course and a third is opening soon. During his first term in 2019, Trump posted of his Turnberry property, 'Very proud of perhaps the greatest golf course anywhere in the world. Also, furthers U.K. relationship!' Starmer is not a golfer, but toggling between Trump's Scottish courses shows the outsized influence the president puts on properties bearing his name — and on golf's ability to shape geopolitics. While China initially responded to Trump's tariff threats by retaliating with high import taxes of its own on U.S. goods but has since begun negotiating easing trade tensions, Starmer and his country have taken a far softer approach. He's gone out of his way to work with Trump, flattering the president repeatedly during a February visit to the White House, and teaming up to announce a joint trade framework on tariffs for some key products in May. Starmer and Trump then signed a trade agreement during the G7 summit in Canada that freed the U.K.'s aerospace sector from U.S. tariffs and used quotas to reduce them on auto-related industries from 25% to 10% while increasing the amount of U.S. beef it pledged to import. The prime minister's office says Monday's meeting will also touch on Israel's war with Hamas in Gaza, and that it hopes to welcome the Trump administration working with officials in Qatar and Egypt to bring about a ceasefire. Starmer plans to stress the urgent need to cease the fighting and work to end starvation and other suffering occurring amid increasingly desperate circumstances in Gaza. Also on the agenda, according to Starmer's office, are efforts to promote a possible peace deal to end fighting in Russia's war with Ukraine — particularly efforts at forcing Russian President Vladimir Putin to the negotiating table in the next 50 days. Protesters, meanwhile, have planned a demonstration in Balmedie, near Trump's existing course, after demonstrators took to the streets on Saturday to decry the president's visit. Discussions with Starmer follow Trump meeting Sunday with European Commission chief Ursula von der Leyen at his Turnberry course. They announced a trade framework that will put 15% tariffs on most goods from both countries — though many major details remain pending. On Tuesday, Trump will be at the site of his new course near Aberdeen for an official ribbon cutting. It opens to the public on Aug. 13 and tee times are already for sale — with the course betting that a presidential visit can help boost sales. There are still lingering U.S.-Britain trade issues that need fine-tuning after the previous agreements, including the tariff rates Washington imposes on steel imported from the U.K. Even as some trade details linger and both leaders grapple with increasingly difficult choices in Gaza and Ukraine, however, Starmer's attempts to stay on Trump's good side appears to be working. 'The U.K. is very well-protected. You know why? Because I like them — that's their ultimate protection,' Trump said during the G7. Also likely to improve Trump's mood is the fact that the U.S. ran an $11.4 billion trade surplus with Britain last year, meaning it exported more to the U.K. than it imported. Census Bureau figures this year indicate that the surplus could grow. The president has for months railed against yawning U.S. trade deficits with key allies and sees tariffs as a way to try and close them in hurry. Trump is set to return to Britain in September for an unprecedented second state visit. Trump will be hosted then by King Charles III and Queen Camilla at Windsor Castle.
Bloomberg
an hour ago
- Bloomberg
Namibia's Oil Riches May Finally Start to Flow
The world's hottest postcode for oil exploration is Namibia, attracting a who's who of the petroleum industry. So far, the African nation has generated lots of promise, but little in barrels or dollars. That's beginning to change: The contours of its prize are now taking shape. To understand the excitement, let's start on the other side of the Atlantic. Back in 2015, the country attracting everyone's attention was Guyana. Within a few short years, the Latin American nation delivered a gusher for Exxon Mobil Corp. and its partners: Oil production climbed from almost zero in 2019 to 700,000 barrels a day this year. By 2027, Guyana is expected to surpass 1 million barrels a day, putting it on a par with OPEC+ member countries such as Libya.
Yahoo
2 hours ago
- Yahoo
Hong Kong's CK Hutchison seeks Chinese investor to join Panama Ports deal
HONG KONG (AP) — A Hong Kong conglomerate that's selling ports at the Panama Canal said Monday it may seek a Chinese investor to join a consortium of buyers, a move that could please Beijing but bring more U.S. scrutiny to the geopolitically fraught deal. CK Hutchison Holdings' initial plan to sell its port assets to a group that includes U.S. investment firm BlackRock Inc. pleased President Donald Trump, who has alleged that China interferes with the critical shipping lane's operations in Panama. However, they apparently angered Beijing and drew a review from Chinese anti-monopoly authorities. A Beijing-backed newspaper posted scathing commentaries about the deal, with one describing it as a betrayal of all Chinese. Beijing's offices overseeing Hong Kong affairs have reposted some of these commentaries, widely seen as an indication of Chinese leaders' stance. A Hutchison subsidiary has operated ports at both ends of the Panama Canal since 1997. After months of uncertainty brought by tensions between Washington and Beijing, Hutchison said in a statement that the exclusive negotiations period with the consortium has expired. However, it added 'the Group remains in discussions with members of the consortium with a view to inviting major strategic investor from the PRC to join as a significant member of the consortium,' referring to the People's Republic of China. It said they needed to change the membership of the consortium and the structure of the transaction for the deal to be able to pass reviews by 'all relevant authorities." The awkward position Hutchison found itself in for months highlights the challenges Hong Kong business elites face in navigating Beijing's expectations of national loyalty, especially when relations between China and the United States are strained. Hong Kong has overhauled its electoral system to ensure the city is run by 'patriots.' CK Hutchison is owned by the family of Hong Kong's richest man, Li Ka-shing. It announced March 4 that it would sell all its shares in Hutchison Port Holdings and in Hutchison Port Group Holdings to the consortium that also includes BlackRock subsidiary Global Infrastructure Partners and Terminal Investment Limited, a subsidiary of the Mediterranean Shipping Company. In May, Hutchinson co-managing director, Dominic Lai told shareholders that Terminal Investment was the main investor. Its parent company is led by Italian shipping scion Diego Aponte, whose family reportedly has a longstanding relationship with Li's. The initial deal, valued at nearly $23 billion including $5 billion in debt, would have given the consortium control over 43 ports in 23 countries, including the ports of Balboa and Cristobal, located at either end of the canal. That agreement also required approval from Panama's government. The deadline for their exclusive negotiation period ended on July 27. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
