Oil hits five-month high after US attacks key Iranian nuclear sites
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
an hour ago
- South China Morning Post
Vietnam hails US pact a boost for business as firms await deal details
Vietnam hailed a long-awaited trade deal with the United States as a breakthrough on Thursday and said negotiators were working to finalise details, as business groups awaited clarity on the finer points to assess the impact of the new tariffs. Advertisement The agreement, announced by US President Donald Trump on Wednesday, would place a lower-than-expected 20 per cent tariff on many Vietnamese exports and a 40 per cent rate for transshipments through Vietnam from third countries. The agreement follows months of talks and a raft of concessions by regional manufacturing powerhouse Vietnam to negotiate a reduction in tariffs that were initially set at 46 per cent, triggering alarm in the export-dependent, Communist-ruled nation. 'This is an important negotiation result, creating hope and expectations for businesses,' Finance Minister Nguyen Van Thang told a cabinet meeting, adding Vietnam would also expand 'harmonious and sustainable' trade relations with other countries. The announcement followed a phone conversation between Trump and Vietnamese President To Lam on Wednesday. Foreign ministry spokesperson Pham Thu Hang said To Lam 'highly values President Donald Trump's attention to Vietnam'. 08:13 After Vietnam threatened with 46% US tariffs, how will Hanoi strike a deal with Washington? After Vietnam threatened with 46% US tariffs, how will Hanoi strike a deal with Washington? The United States is Vietnam's largest export market and the two countries' growing economic, diplomatic and military ties are a hedge against Washington's biggest strategic rival, China, a top source of imports for Hanoi. The United States recorded a trade deficit of US$123 billion with Vietnam last year, one of its highest globally.
The Standard
2 hours ago
- The Standard
Chinese club Changchun Xidu fined for using superstitious charms to unnerve opponents
As trade war truce with China holds, US lifts curbs for chip design software and ethane
RTHK
5 hours ago
- RTHK
US court pushed to back 737 Max non-prosecution deal
US court pushed to back 737 Max non-prosecution deal Boeing 737 Max aircraft are assembled at the company's plant in Renton, Washington. File photo: Reuters Boeing and the US Justice Department have asked a judge to approve an agreement that allows the company to avoid prosecution despite objections from relatives of some of the 346 people killed in two 737 Max crashes in 2018 and 2019. The deal enables Boeing to avoid being branded a convicted felon and to escape oversight from an independent monitor for three years that was part of a plea deal struck in 2024 to a criminal fraud charge that it misled US regulators about a crucial flight control system on the 737 Max, its best-selling jet. Boeing argued the executive branch solely has the power to decide whether to bring or maintain a prosecution. "Because it is entirely within the government's discretion whether to pursue a criminal prosecution, an agreement not-to-prosecute does not require court approval," Boeing said, asking a judge to reject objections filed by the families and grant the government's motion to dismiss the charge. "Disputing the government's considered assessment of litigation risk, the calculation of the maximum fine, or the appropriate mechanism for compliance oversight, do not demonstrate – even remotely – that the government was clearly motivated by considerations contrary to the public interest." The Justice Department said in a court filing it acted in good faith and in accordance with the law, agreeing to dismiss the case for an agreement "that secures a significant fine, compliance improvements, and a substantial victim compensation fund". The families cited Judge Reed O'Connor's statement in 2023 that "Boeing's crime may properly be considered the deadliest corporate crime in US history". They argue dismissal is not in the public interest and obligations imposed on Boeing are not enforceable. If the government declined to move forward with the prosecution even if the court rejected the deal, O'Connor should appoint a special prosecutor, the families said. Under the deal, Boeing agreed to pay an additional US$444.5 million into a crash victims fund to be divided evenly per crash victim, on top of a new US$243.6 million fine. Boeing agreed last July to plead guilty to a criminal fraud conspiracy charge after the two fatal 737 Max crashes in Indonesia and Ethiopia. Under the non-prosecution agreement, Boeing will pay US$1.1 billion in total, including the fine, compensation to families and more than US$455 million to strengthen the company's compliance, safety and quality programs. The vast majority of the families have settled civil suits with Boeing and collectively have been "paid several billion dollars", the Justice Department said. (AFP)
