logo
China says Australian PM Albanese to visit this week

China says Australian PM Albanese to visit this week

The Star14 hours ago
BEIJING: Australian Prime Minister Anthony Albanese (pic) will begin a six-day visit to China on Saturday (July 12), his office and Beijing said.
China lifted a ban on Australian rock lobster in December, the last barrier in a broader, multibillion-dollar trade war that erupted under a previous conservative government in Canberra.
Albanese's office hailed a return to free-flowing trade and said on Tuesday he would hold an annual meeting with Premier Li Qiang to broach global politics, trade and tourism during his visit.
He will also see President Xi Jinping, it said.
"China remains Australia's largest trading partner, accounting for almost one third of our total trade, and will remain so for the foreseeable future," Albanese said.
"Trade is now flowing freely, to the benefit of both countries and to people and businesses on both sides."
Beijing said on Tuesday that "under the guidance of the two countries' leaders and joint efforts by both sides, China-Australia relations have continuously improved and developed".
"China is willing to take this visit as an opportunity to strengthen communication, enhance mutual trust, expand practical cooperation and promote the development of the China-Australia comprehensive strategic partnership," foreign ministry spokeswoman Mao Ning said. - AFP
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Dollar gains against yen as Trump's trade war intensifies
Dollar gains against yen as Trump's trade war intensifies

New Straits Times

time23 minutes ago

  • New Straits Times

Dollar gains against yen as Trump's trade war intensifies

TOKYO: The dollar rose for a third day against the yen on Wednesday as US President Donald Trump pledged more trade-related proclamations after announcing 25 per cent tariffs on Japan and other trade partners. The greenback advanced against major peers on Tuesday after Trump began telling trade counterparts that sharply higher US tariffs will start on August 1, but he later said he was open to extensions if countries made proposals. Trump said on social media that there would be announcements on Wednesday regarding "a minimum of 7 countries having to do with trade," without specifying whether he would be announcing new deals or tariff letters. Multiple rounds of talks have failed to result in a breakthrough between the US and Japan, where policymakers are now increasingly focused on a critical upper house election this month. "Talks appear to be stalled over Japan's rice market protections and it's hard to see the Japanese bending on this one," IG analyst Tony Sycamore wrote in a client note. "The (currency) pair's rise was also supported by a fifth day of gains in US yields and a sharp rise in JGB yields on fiscal concerns ahead of Japanese elections on July 20." The dollar climbed 0.2 per cent to 146.85 yen, after touching a more than two-week high on the previous day. The euro was little changed at US$1.1720. The dollar index, which tracks the US currency against a basket of six major peers, was steady at 97.582 after a two-day climb. Sterling traded at US$1.35795, down 0.1 per cent in early trading. Bank of Japan board member Junko Koeda said she was keeping a close eye on possible second-round effects on underlying inflation from recent rises in the price of rice, Bloomberg News reported on Wednesday. The European Union will not receive a tariff letter and could secure exemptions from the US baseline rate of 10 per cent, EU sources familiar with the matter told Reuters on Monday. Trump on Tuesday said he would impose a 50 per cent tariff on imported copper and will soon introduce long-threatened levies on semiconductors and pharmaceuticals. US Treasury Secretary Scott Bessent will skip a Group of 20 finance officials meeting in South Africa next week, sources familiar with his plans told Reuters, but will attend the World Expo 2025 in Osaka, Japan, according to a Treasury spokesperson. The Australian dollar fetched US$0.6526, down 0.07 per cent after Tuesday's 0.6 per cent jump. New Zealand's kiwi dollar traded at US$0.5993, down 0.1 per cent.

Trump's tariffs on Asean may drive Southeast Asia's trade with China, India
Trump's tariffs on Asean may drive Southeast Asia's trade with China, India

Sinar Daily

time30 minutes ago

  • Sinar Daily

Trump's tariffs on Asean may drive Southeast Asia's trade with China, India

On Monday, Trump began sending out trade letters to foreign countries, outlining tariff rates on imports to the US. 09 Jul 2025 09:05am A cargo ship arrives at the international cargo terminal at the port of Tokyo on July 8, 2025. (Photo by Kazuhiro NOGI / AFP) MOSCOW - Tariffs imposed by US President Donald Trump on imports from ASEAN member countries are likely to strengthen their trade ties with other nations, such as China and India. They will undermine the United States' credibility as a reliable economic partner in the region, according to Khoo Ying Hooi, Associate Professor of International Relations and Human Rights at the University of Malaya in Kuala Lumpur, in an interview with RIA Novosti. A cargo ship docks at the quay of the international cargo terminal at the port of Tokyo on July 8, 2025. (Photo by Kazuhiro NOGI / AFP) On Monday, Trump began sending out trade letters to foreign countries, outlining tariff rates on imports to the US. Among ASEAN states, Indonesia was subjected to a 32 per cent tariff, Thailand and Cambodia faced a 36 per cent tariff, while Malaysia will pay the tariff of 25 per cent. The highest tariff rate of 40 per cent was introduced for Laos and Myanmar. "In many ways, this process [of reorienting ASEAN exports to countries other than the US] has already begun. We've seen ASEAN countries deepen trade ties with other partners through multilateral arrangements, such as RCEP [Regional Comprehensive Economic Partnership] and CPTPP [Comprehensive and Progressive Agreement for Trans-Pacific Partnership]. "China is likely to emerge as a major substitute for ASEAN exports affected by the tariffs, although this comes with its own geopolitical complications. India is another potential partner, given its large market and regional ambitions," Khoo said. Moreover, the bloc's trade strategy has long been "about diversification and hedging," and the US tariffs are expected to accelerate that trend, the expert added. "In the long run, [the tariffs] may undermine US influence in the region by pushing ASEAN further toward other economic poles ... They will strain US-ASEAN economic ties and may drive Southeast Asia further into the orbit of China and other alternative partners. In the long term, the US risks losing its credibility as a stable and predictable economic partner in the region," the professor said. At the same time, while the upcoming ASEAN summit in Malaysia may provide a "quiet platform for discussion," any renegotiation is unlikely at this stage, as "Trump's tariffs are often politically driven and intended to appeal to domestic constituencies," Khoo noted, adding that there will be "little incentive" for the US president to reverse trade course unless he is influenced by allied lawmakers or domestic businesses. "Countries like Malaysia, Vietnam, and Thailand, who have strategic dialogues with the US, might use bilateral meetings on the sidelines to voice concern and seek clarifications. But ASEAN as a bloc doesn't have much leverage over US trade policy, particularly under an administration that prefers unilateral action over multilateral negotiation," the expert said. After returning to the White House, Trump began to tighten trade policy: he introduced duties on imports from Mexico and Canada, raised them for China, and then announced tariffs on steel, aluminum, and cars. The culmination was the announcement on April 2 of a 10 per cent base import rate and increased "reciprocal" duties for individual countries. However, a week later, tariff increases were put on hold, and the US began trade negotiations with many trading partners. Earlier on Tuesday, the US president extended the suspension of increased tariffs on foreign goods until August 1. - BERNAMA-SPUTNIK/RIA NOVOSTI More Like This

Rubio's first Asia trip as US Secretary of State includes KL stop, with tariffs high on agenda
Rubio's first Asia trip as US Secretary of State includes KL stop, with tariffs high on agenda

Malay Mail

timean hour ago

  • Malay Mail

Rubio's first Asia trip as US Secretary of State includes KL stop, with tariffs high on agenda

WASHINGTON, July 9 — US Secretary of State Marco Rubio departed for Malaysia yesterday for meetings with Asean allies, a trip that has been overshadowed by fears of a trade war. The brief trip to Kuala Lumpur is intended to allow Rubio, who is also President Donald Trump's national security advisor, to focus on US policy in Asia after months of Washington concentrating on conflicts in Ukraine and the Middle East. "In his first trip to Asia as Secretary of State, Secretary Rubio is focused on reaffirming the United States' commitment to advancing a free, open, and secure Indo-Pacific region," spokeswoman Tammy Bruce said in a statement, using Washington's traditional wording on curbing China's growing influence in the region. A senior State Department official told reporters that prioritizing and reaffirming Washington's commitment to East Asia and Southeast Asia "is in America's interest." "I think there's been a lot of outreach, a lot of engagements, and I wouldn't judge the level of interest and priority based solely on how many physical trips there have been," the official said on condition of anonymity. As with any trip to Asia by a US official, China will be the elephant in the room amid concerns over its expansionist behavior in the South China Sea, which the United States deems to be provocative. 'Rebalance' trade relationships But this visit also comes as many countries around the world fear the imposition of punitive tariffs. Sweeping levies Trump announced in April were mostly suspended, as Washington engages in negotiations with friends and foes alike. On Monday, Trump said he would impose 25 per cent tariffs on key US allies Japan and South Korea and a handful of others, including Southeast Asian nations Malaysia (25 per cent) and Laos (40 per cent), as of August 1. Export-dependent Vietnam, which like Malaysia and Laos is a member of the Association of Southeast Asian Nations (Asean), is one of the few countries to already reach a tentative agreement with Washington that spares it the high level of levies that Trump had threatened. At a summit in late May, Southeast Asian leaders expressed their deep concern at Trump's protectionist offensive. The senior US official said the issue was expected to be raised, and that Rubio would likely tell Asean that the United States wants to "rebalance" its trade relationships. Rubio's visit to Kuala Lumpur Thursday and Friday coincides with that of his Russian and Chinese counterparts, Sergei Lavrov and Wang Yi. While there, Rubio is scheduled to attend a meeting with his counterparts from Asean and with a gathering of both Asean and East Asian foreign ministers. Last week, Rubio welcomed foreign ministers from Australia, India and Japan to Washington, where they pledged to work together to ensure a stable supply of critical minerals. China's domination of such resources -- essential to new technologies -- is causing increasing concern in western Europe and the United States. — 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