Japan scraps US meeting after Washington demands more defense spending -FT
WASHINGTON (Reuters) -Japan has canceled a regular high-level meeting with its key ally the United States after the Trump administration demanded it spend more on defense, the Financial Times reported on Friday.
U.S. Secretary of State Marco Rubio and Defense Secretary Pete Hegseth had been expected to meet their Japanese counterparts in Washington on July 1 for annual 2+2 security talks.
But Tokyo scrapped the meeting after the U.S. side asked Japan to boost defense spending to 3.5 per cent of GDP, higher than an earlier request of 3 per cent, the paper cited unnamed sources familiar with the matter, including two officials in Tokyo, as saying.
A U.S. official who did not want to be identified confirmed Japan had "postponed" the talks but said the decision was made several weeks ago. The source did not cite a reason. A non-government source familiar with the issue said he had also heard Japan had pulled out of the meeting, but not the reason for it doing so.
U.S. State Department spokesperson Tammy Bruce said she had no comment on the FT report when asked about it at regular briefing, and the Pentagon also had no immediate comment.
Japan's embassy in Washington did not respond to a request for comment.
The Financial Times said the new higher spending demand was made in recent weeks by Elbridge Colby, the third-most senior Pentagon official, who has also recently upset another key U.S. ally in the Indo-Pacific by launching a review of a project to provide Australia with nuclear-powered submarines.
In March, Japanese Prime Minister Shigeru Ishiba said that other nations do not decide Japan's defense budget after Colby called in his nomination hearing to be under secretary of defense for policy for Tokyo to spend more to counter China.
Japan and other U.S. allies have been engaged in difficult trade talks with the United States over U.S. President Donald Trump's worldwide tariff offensive.
The FT said the decision to cancel the July 1 meeting was also related to Japan's July 20 Upper House elections, at which the ruling Liberal Democratic Party is expected to suffer a loss of seats.
It comes ahead of a meeting of the U.S.-led NATO alliance in Europe next week, at which Trump is expected to press his demand that European allies boost their defense spending to 5 percent of GDP.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Yahoo
19 minutes ago
- Yahoo
YXT.com Announces Changes in Board of Directors and Management
SUZHOU, China, June 30, 2025 (GLOBE NEWSWIRE) -- Group Holding Limited (NASDAQ: YXT) (' or the 'Company'), a provider of AI-enabled enterprise productivity solutions, today announced that Mr. Pun Leung Liu has notified the board of directors of the Company (the 'Board') of his decision to resign from his position as a Director and Chief Financial Officer ('CFO') of the Company, effective June 30, 2025, due to personal reasons. Mr. Liu's resignation did not result from any disagreement or dispute with the Company, the Board, or the Company's management regarding any matter relating to the Company's operations, policies, or practices. Following Mr. Liu's resignation, the Board has appointed Mr. Yazhou Wu, the Company's Chief Operating Officer and Chief Technology Officer, as the new Director. The Board has also appointed Mr. Shen Cao, the current Vice President of Investment Relations, as the new CFO. Mr. Shen Cao joined the Company in May 2025 as Vice President of Investment Relations. Prior to joining Mr. Cao served as the Deputy Chairman of the Board in Topsperity Securities Asset Management Co., Ltd. from June 2023 to April 2025. Mr. Cao holds a Bachelor's and Master's degree in Civil Engineering from Tsinghua University. About (NASDAQ: YXT) is a technology company focusing on enterprise productivity solutions. With a mission to "Empower people and organization development through technology," The Company strives to become the supreme provider in building and boosting enterprise productivity by combining over a decade of experience in tech-enabled talent learning and development and with AI-augmented task copilots and unleashing the power of knowledge and synergy. Since its inception, has supported and received recognition from numerous Global and China Fortune 500 companies. operates its business in China through "Jiangsu Radnova Intelligence Technology Co., Ltd.," formerly known as "Jiangsu Yunxuetang Network Technology Co., Ltd.". has established an entity in Singapore to serve as a headquarter for its overseas business to be conducted in the future, with the "Radnova" trademark to serve international markets. Safe Harbor StatementThis press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'target,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to', or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. ContactRobin YangICR, (646) 405-4883

25 minutes ago
Families affected by cartels urge Trump admin to classify more as terrorist organizations
A group of Americans who have lost family members to violence perpetrated by drug cartels is urging the Trump administration to designate additional criminal groups as terrorist organizations, according to a letter exclusively obtained by ABC News. The letter, which was sent to Secretary of State Marco Rubio on Monday, was authored by members of a newly formed coalition--American Families Against Cartel Terrorism--and calls for the Juárez Cartel and its armed wing, La Línea, to be added to the State Department's list of Foreign Terrorist Organizations, or FTOs. "As grieving United States citizens—parents, spouses, siblings, children, and survivors—we write to you carrying the excruciating pain of losing loved ones to the brutal violence of Mexican drug cartels," the letter begins. "This is not just about our families, it is about keeping Americans safe and getting justice for all American victims and ensuring that no American is left behind," it continues. "We want to prevent our fellow citizens from ever experiencing the pain and loss we have faced." An FTO label criminalizes the provision of any material support to the designated organization and automatically bars members of the group who do not hold American citizenship from entering the country. It also allows victims of the organization's attacks and their survivors to sue for compensation. Traditionally, the U.S. government has used the tool against extremist groups, but the Trump administration has already shown a willingness to broaden the interpretation of FTO criteria, designating eight drug cartels operating in Latin America earlier this year, as well as two Haitian gangs. However, critics of the administration's policies have argued the designations don't significantly change the U.S. government's ability to investigate and prosecute cartels. "We are grateful for the strong actions you have already taken to combat drug cartels. We ask you to designate the Juárez Cartel and its armed wing La Línea as FTOs, and keep sending a clear message that the United States will not tolerate the murder of innocent Americans or the terrorization of our communities," the letter to Rubio states. Members of American Families Against Cartel Terrorism (AmFact) shared their personal memories of loss in statements provided to ABC News. "On November 4, 2019, I came face to face with the Juárez Cartel and its armed wing La Línea, as they sprayed our family with thousands of bullets," said Devin Langford, a survivor of a brutal cartel massacre who lost his mother, Dawna Langford, and two younger brothers, Trevor, 11, and Rogan, 2, in the horrific attack. "I can never bring back my mother and siblings, but I can speak out so that no American should have to fear Mexican drug cartel violence," he said. The president of American Families Against Drug Terrorism, Adriana Jones, lost her sister when she was shot and burned to death alongside four of her children in the same violent incident. "Mexican cartels are criminal organizations that traffic in death and destruction, and they threaten the safety of families across the United States," she said. "AmFACT is giving survivors and families a voice, so no one else has to endure the pain, terror, and heartbreak that we've lived through."
Yahoo
an hour ago
- Yahoo
3 High-Quality Oil Stocks to Buy as Middle East Tensions Linger
Middle East tensions brought a shock to the oil (CLQ25) markets, and oil prices remain slightly elevated despite the announced ceasefire between Israel and Iran. The conventional wisdom that caused oil prices to soar beyond $70 was that the '12-Day War' would morph into a regional conflict, one that would last for months or years. Although that has not happened, many investors are still closely watching the region for any signs of tensions bubbling back up. 3 High-Quality Oil Stocks to Buy as Middle East Tensions Linger Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! That's why August crude oil futures are still above $65 at the moment. High-quality oil stocks stand to benefit from these elevated prices. For investors looking to buy in now, here are three oil stocks that analysts love for their cash flow headroom here. Inpex (IPXHY) is a Japanese energy company that produces and sells oil and natural gas (NGQ25). It also invests in and lends money to other energy companies and has recently been more involved in solar and geothermal power generation. The analysts who compiled this list of high-quality oil stocks were looking for companies that were included the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) or the iShares Global Energy ETF (IXC). From there, stocks were screened to focus on ones that had a debt-equity ratio below 70% and were in the top 20 for free cash flow headroom based on FCF estimates. Inpex has 12.3% in estimated FCF headroom. It's hard to think about a big negative here, since the company has very solid financials, and it also trades at very cheap multiples. You can grab the stock for just over 6 times trailing earnings. Last year, Inpex's net cash flow grew 635% to $267.5 million, and net income grew 24.34% to $2.8 billion. However, investors should note that due to lower oil and gas sales in the first quarter, its revenue and operating profit fell. The good news appears to be that management is still planning to hike its dividend later in 2025. Devon Energy (DVN) is an oil and natural gas company in the United States. Any more Middle East conflict would lead to a sharp rise in both natural gas and oil prices in the U.S., as a fifth of all shipments in both of those energy categories go through regional arteries. The U.S. has considerable domestic energy production, so such a price increase would directly benefit companies like Devon Energy. But even if such a crisis never happens, the financials here are strong. DVN stock is trading nearly 60% below its 3-year high at the moment, and the stock seems significantly undervalued at 6.6 times trailing earnings. With oil prices holding higher and a more aggressive drilling policy in place under President Donald Trump, the stock has stabilized in the $30 to $35 band. Plus, analysts see 9.4% in FCF headroom for Devon Energy. Last year, operating cash flow was at $6.6 billion, up slightly from 2023. This level is also quite substantial for a company with a market capitalization of less than $21 billion. You can make use of the 3% dividend yield as you wait for it to recover. The dividend payout ratio is just 22%. SM Energy (SM) is an energy company that produces oil and natural gas. It is also in the U.S., and its production is based around the Permian Basin and the Uinta Basin. This stock trades at just 3.5 times trailing earnings and its dividend yields 3.1%. In the first quarter SM Energy announced that it had completed the integration of its assets in the Uinta Basin, which allowed it to push oil production to the high end of its guided range. Net income of $182.3 million was up significantly from $131.2 million in the year-ago period, and total revenue of $844.5 million was up 50% year-over-year. The company reported adjusted free cash flow of $73.8 million. And, looking ahead, analysts see SM Energy having FCF headroom of 10.6%. For the full year, SM is guiding for growth in total production and in oil production specifically. Despite a ceasefire easing fears of prolonged conflict in the Middle East, oil prices remain elevated, providing a tailwind for energy stocks. With solid financials, attractive valuations, and strong free cash flow potential, Inpex, Devon Energy, and SM Energy stand out as compelling plays for investors seeking exposure to the current oil market. On the date of publication, Omor Ibne Ehsan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio