logo
Reuters NEXT Asia: Global leaders address challenges and opportunities

Reuters NEXT Asia: Global leaders address challenges and opportunities

Reuters11 hours ago
21:15 EDT
Video
On Wednesday, Reuters journalists will speak to policymakers and business leaders about some of the greatest challenges and opportunities facing the world, at the annual Reuters NEXT Asia summit in Singapore.
The event will feature exclusive interviews with:
Philippines Secretary of National Defense Gilberto Teodoro
Pony.ai Co-Founder and Chief Technology Officer Lou Tiancheng
Singapore's Coordinating Minister for National Security & Minister for Home Affairs K Shanmugam
Malaysia's Minister of Investment, Trade and Industry Tengku Zafrul Aziz
Among the topics of discussion will be trade and tariffs, artificial intelligence and how Asia is preparing for an ageing population.
The event begins at 8:45 a.m. SGT (0045 GMT).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump warns countries with ‘anti-American policies' will see tariffs rise
Trump warns countries with ‘anti-American policies' will see tariffs rise

The Independent

time2 hours ago

  • The Independent

Trump warns countries with ‘anti-American policies' will see tariffs rise

Donald Trump threatened to impose an additional 10 per cent tariff on any nation aligning with the 'Anti-American policies' of the Brics group. The threat was issued via a Truth Social post during the Brics annual gathering in Brazil, where leaders had warned against rising tariffs and protectionism. The Brics group, which includes Brazil, Russia, India, China, and South Africa, has expanded its membership and represents over half the world's population and 40 per cent of its economic output. China responded by stating it opposes tariffs as a tool of coercion, while South Africa argued it is not anti-American and is seeking a trade deal with the US. Trump's administration is reportedly aiming to finalise numerous trade deals before a 9 July deadline for imposing significant 'retaliatory tariffs'.

European shares subdued as investors brace for Trump's tariff deadline
European shares subdued as investors brace for Trump's tariff deadline

Reuters

time2 hours ago

  • Reuters

European shares subdued as investors brace for Trump's tariff deadline

July 7 (Reuters) - European shares were subdued on Monday, with investors on the lookout for any trade-related headlines in the countdown to U.S. President Donald Trump's tariff deadline. The pan-European STOXX 600 index (.STOXX), opens new tab was flat at 541.15 points, as of 0835 GMT. Other major regional indexes were mixed, with Germany's DAX (.GDAXI), opens new tab up 0.4%, while France's CAC 40 (.FCHI), opens new tab, Spain's IBEX (.IBEX), opens new tab, and the UK's FTSE 100 (.FTSE), opens new tab each fell 0.1%. President Trump said on Sunday, the U.S. is close to finalising several trade agreements in the coming days and will notify other countries of higher tariff rates by July 9. The new rates are set to take effect from August 1. He also said the U.S. will send letters to 12 countries on Monday, detailing the different tariff levels they will face on goods they export to the U.S. "Trade deals have taken years to the U.S. is trying to negotiate so many deals in three months. It will be surprising if they get proper long-lasting deals signed very quickly", said Andrew Lapping, Chief Investment Officer at Ranmore Fund Management. Meanwhile, Trump threatened an extra 10% tariff on countries aligning themselves with the "anti-American policies" of the BRICS group of developing nations. He added to the confusion by mentioning that some tariffs could reach up to 70% levels far higher than the 10%-50% range he announced in April. "Trump is in a teasing mood, hinting that more deals will be inked in the coming are bracing for another burst of volatility, as another cloud of unpredictability descends.", said Susannah Streeter, head of money and markets, Hargreaves Lansdown in a note. Meanwhile, a White House official said on Friday that U.S. trade talks with the European Union were ongoing, and there was optimism that an agreement could be reached in the near future. European energy (.SXEP), opens new tab stocks fell 1.6%, tracking lower oil prices —meanwhile, insurance (.SXIP), opens new tab stocks were up 0.8%. Among individual stocks, Shell fell 3% after the energy major trimmed its second-quarter gas, LNG output outlook and guided for weaker trading results in a quarterly update ahead of full results. Capgemini ( opens new tab fell 4.1% after the French IT services firm agreed to buy technology outsourcing company WNS (WNS.N), opens new tab for a cash payment of $3.3 billion. China's finance ministry said on Sunday it would restrict government purchases of medical devices from the EU that exceed 45 million yuan ($6.3 million) in value, in retaliation for Brussels' curbs last month. Carl Zeiss Meditec ( opens new tab and Merck Kgaa ( opens new tab fell 1.7% and 2.1%, respectively, following China's reciprocal curbs on EU medical devices.

Trump seeks to pressure trading partners to make deals before tariffs deadline
Trump seeks to pressure trading partners to make deals before tariffs deadline

BreakingNews.ie

time2 hours ago

  • BreakingNews.ie

Trump seeks to pressure trading partners to make deals before tariffs deadline

The Trump administration is stepping up pressure on trading partners to make new deals before a Wednesday deadline, with plans for the US to start sending letters warning countries that higher tariffs could begin on August 1. That furthers the uncertainty for businesses, consumers and America's trading partners, and questions remain about which countries will be notified, whether anything will change in the days ahead and whether President Donald Trump will once more delay imposing the rates. Advertisement Mr Trump and his top trade advisers say he could extend the time for deal-making but they insist the administration is applying maximum pressure on other nations. Kevin Hassett, director of the White House National Economic Council, told CBS's Face The Nation on Sunday that Mr Trump would decide when it was time to give up on negotiations. 'The United States is always willing to talk to everybody about everything,' Mr Hassett said. 'There are deadlines, and there are things that are close, so maybe things will push back past the deadline or maybe they won't. In the end the president is going to make that judgment.' Stephen Miran, the chairman of the White House Council of Economic Advisers, likewise said countries negotiating in good faith and making concessions could 'sort of, get the date rolled'. Advertisement The steeper tariffs that Mr Trump announced on April 2 threatened to overhaul the global economy and lead to broader trade wars. A week later, after the financial markets had panicked, his administration suspended for 90 days most of the higher taxes on imports just as they were to take effect. The negotiating window until July 9 has led to announced deals only with the United Kingdom and Vietnam. Mr Trump imposed elevated tariff rates on dozens of nations that run meaningful trade surpluses with the US, and a 10% baseline tax on imports from all countries in response to what he called an economic emergency. There are separate 50% tariffs on steel and aluminium and a 25% tariff on vehicles. Since April, few foreign governments have set new trade terms with Washington as the Republican president demanded. Advertisement Mr Trump told reporters on Friday that his administration might be sending out letters as early as Saturday to countries spelling out their tariff rates if they did not reach a deal, but that the US would not start collecting those taxes until August 1. On Sunday, he said he would send out letters starting Monday — 'could be 12, could be 15' — to foreign governments reflecting planned tariffs for each. 'We've made deals also,' Mr Trump told reporters before heading back to the White House from his home in New Jersey. 'So we'll get to have a combination of letters, and some deals have been made.' He and his advisers have declined to say which countries would receive the letters. Advertisement Treasury Secretary Scott Bessent rejected the idea that August 1 was a new deadline and declined to say what might happen on Wednesday. 'We'll see,' Mr Bessent said on CNN's State Of The Union. 'I'm not going to give away the playbook.' He said the US was 'close to several deals' and predicted several big announcements over the next few days. He gave no details. 'I think we're going to see a lot of deals very quickly,' Mr Bessent said. Advertisement

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