June 3 NEWSROOM TOKYO Bangkok Live
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NHK
12 hours ago
- NHK
Thai firms rush to export to US before tariff deadline
As the end of the pause of what US President Donald Trump calls "reciprocal" tariffs is looming, businesses in Thailand are bracing for it. If the pause ends, Thailand will be slapped with 36 percent levies as Trump initially announced. Thailand's finance minister, Pichai Chunhavajira, met with US Trade Representative Jamieson Greer on Thursday in Washington. They have been continuing their discussions but have yet to reach an agreement. At one pet food company in Thailand, 30 percent of its sales come from exports to the US. Staff are scrambling to pack the products as orders pour in from the US. Clients are asking the firm to deliver the pet food by the tariff deadline. The volume of shipments is surging to nearly twice that of a normal year. The company's operating director, Chatchai Lertviwatkul, says it is difficult to find new costumers that could cover its export sales to the US. He says the company is cutting costs in a bid to mitigate the situation, such as automating production. Chatchai is hopeful the talks will make progress and result in a lower levy.
Japan Today
17 hours ago
- Japan Today
Where do trade talks stand in the rush to avert higher U.S. tariffs?
US President Donald Trump unveiled tariffs customized to dozens of trading partners in April, as the White House slammed a lack of 'reciprocity' in trade ties By Beiyi SEOW and Julien GIRAULT U.S. President Donald Trump has said he will send letters to select trade partners facing tariff hikes as early as Monday, piling pressure on countries to strike a deal with Washington before a new August 1 deadline. The White House announced sharp levies on dozens of economies in April, citing a lack of "reciprocity" in trade relations, which were set to kick in on Wednesday, July 9. Trump announced on Friday the levies' imposition would be pushed to August 1 to allow time for talks to wrap up, but said he signed 12 letters to inform some countries of rate hikes, which will likely be sent on Monday. With Treasury Secretary Scott Bessent saying the administration was "close to several deals," where do things stand for economies from Taiwan to the European Union? Japan: Rice, autos at stake Despite being a close U.S. ally and major source of foreign investment, Japan might not escape Trump's tariff hike. Tokyo's trade envoy Ryosei Akazawa has made numerous trips to Washington through the end of June. But Trump recently criticized what he described as Japan's reluctance to open up further to U.S. rice and auto exports. "I'm not sure we're going to make a deal," Trump said, adding that the country could pay a tariff of "30 percent, 35 percent, or whatever the number is that we determine." EU: 'Ready' for deal The European Union said it is "ready for a deal" with Washington, with the bloc's trade chief meeting his U.S. counterparts Thursday. European Commission President Ursula von der Leyen said the EU was targeting an "agreement in principle" when it came to the initial July 9 cutoff. Bessent said the European Union is "making very good progress" after a slow start. With no deal, the U.S. tariff on EU goods doubles from the "baseline" of 10 percent to 20 percent -- with Trump previously threatening a 50 percent level. Vietnam: A pact with uncertainties Washington and Hanoi unveiled a trade pact Wednesday with much fanfare and few details, but it allowed Vietnam to avoid Trump's initial 46 percent tariff. Under the agreement, Vietnamese goods face a minimum 20 percent tariff while products made elsewhere face a 40 percent levy -- a clause to restrict "transshipping" by Chinese groups. But there remain questions on how the higher levy would apply to products using foreign parts. There is also a risk that Beijing will adopt retaliatory measures, analysts warned. India: A good position Indian manufacturers and exporters want to believe they can avoid a 26 percent tariff. Negotiations between both countries have been going well for weeks, and Trump himself suggested at the end of June that a "very big" agreement was imminent. Ajay Sahai, director general of the Federation of Indian Export Organizations, said the feedback he received "suggests positive developments." But he maintained that the situation was fluid. Finance Minister Nirmala Sitharaman has stressed that agriculture and dairy products remain "very big red lines." South Korea: Muted optimism Seoul, which is already reeling from U.S. tariffs on steel and autos, wants to avert a sweeping 25 percent levy on its other exports. Cooperation in shipbuilding could be a bargaining chip, but "at this stage, both sides still haven't clearly defined what exactly they want," said new President Lee Jae Myung on Thursday. "I can't say with confidence that we'll be able to wrap everything up by July 8," he added. Indonesia, Thailand, Taiwan in the wings Other Asian economies including Indonesia, Thailand and Cambodia, which faces a 49 percent tariff, wait with bated breath. Indonesia has indicated willingness to boost energy, agriculture and merchandise imports from the United States. Bangladesh is proposing to buy Boeing planes and step up imports of U.S. agriculture products. Taiwan, for whom Washington is a vital security partner, faces a 32 percent duty without a pact. Although both sides have faced bumps along the way, Taiwanese Vice President Hsiao Bi-khim said "negotiators from both sides are working diligently" to find a path forward. Switzerland: Hope for delay Switzerland's government said Washington has acknowledged it was acting in good faith, and assumes its tariff level will remain at 10 percent on July 9 while negotiations continue. But without a decision by the president as of the end of June, Switzerland did not rule out that levies could still rise to a promised 31 percent. © 2025 AFP
Japan Times
20 hours ago
- Japan Times
Japan to export used destroyers to Philippines to deter China, report says
Japan will export used navy destroyers to the Philippines to strengthen its deterrence against China's maritime expansion, the Yomiuri newspaper reported on Sunday, as the two U.S. allies increase cooperation to counter Beijing. The export plan involves six Abukuma-class destroyer escorts in service with the Japan Maritime Self-Defense Force for more than three decades, the Japanese daily said, citing multiple unnamed government sources. Defense Ministers Gen Nakatani and Gilberto Teodoro agreed to the destroyer export when they met in Singapore last month, the Yomiuri said, adding that the Philippine military will inspect the ships this summer as part of the final preparations. A delegation of naval experts from the Philippines will conduct an in-depth assessment of the ships, the Philippine Navy said in a statement on Sunday, following an official invitation from Japan's Defense Ministry. "The outcome of this inspection will guide further deliberations on the potential acquisition and its alignment with the Philippine Navy's modernization efforts," it said, adding that the initiative reflects the deepening strategic partnership between the Philippines and Japan. A Japanese Defense Ministry spokesperson declined to comment on the report and China's Foreign Ministry did not immediately respond to requests for comment. Tokyo and Manila say they face challenges from Beijing's increasingly assertive moves in waters including the South China Sea for the Philippines and the East China Sea for Japan. Bilateral military cooperation has included joint exercises, a Japanese radar aid package and a high-level strategic dialogue. Last year they signed a reciprocal access agreement, the first such for Japan in Asia, allowing deployment of forces on each other's soil. To clear military equipment export restrictions for the destroyers under Japan's pacifist mandates, Tokyo will treat the installation of equipment and communication systems requested by Manila as a joint development project, the Yomiuri said. The Abukuma-class destroyer escort, a relatively small type of destroyer with a 2,000-ton standard displacement, is operated by a crew of about 120 and is armed with anti-submarine and anti-ship missiles, torpedo tubes and guns, according to a Japanese navy website. The Philippine Navy does not have destroyers, only frigates and corvettes, which are typically smaller and lighter armed.
