Trump Says Nations Aligning With BRICS' 'Anti-American Policies' Will Face Additional 10 Pct Tariff
"There will be no exceptions to this policy," he wrote on his Truth Social platform.
In another post, he announced that US tariff letters and/or agreements with various countries across the world "will be delivered starting 12:00 P.M. (Eastern) (1600GMT), Monday, July 7th."
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The Star
29 minutes ago
- The Star
Some Walmart garment orders from Bangladesh on hold due to US tariff threat
FILE PHOTO: A Walmart store is shown in Oceanside, California, U.S., May 15, 2025. Dhaka-based garment factory owner said an importer with whom he was negotiating a spring 2026 order of trousers for Walmart asked him to wait a week before the order would be confirmed due to the tariff risk. - Reuters LONDON/NEW YORK: Suppliers to Walmart have delayed or put on hold some orders from garment manufacturers in Bangladesh, according to three factory owners and correspondence from a supplier seen by Reuters, as US President Donald Trump's threat of a 35 per cent tariff on the textile hub disrupts business. Bangladesh is the third-largest exporter of apparel to the United States, and it relies on the garment sector for 80 per cent of its export earnings and ten per cent of its GDP. The factory owners all said they expected orders to fall if the August 1 tariffs go into effect, as they are unable to absorb that 35 per cent rate. Iqbal Hossain, managing director of garment manufacturer Patriot Eco Apparel Ltd, told Reuters an order for nearly one million swim shorts for Walmart was put on hold on Thursday (July 10) due to the tariff threat. "As we discussed please hold all below Spring season orders we are discussing here due to heavy Tariff per cent imposed for USA imports," Faruk Saikat, assistant merchandising manager at Classic Fashion, wrote in an email to Hossain and others seen by Reuters. Classic Fashion is a supplier and buying agent that places orders for retailers. "As per our management instruction we are holding Bangladesh production for time being and IN case Tariff issues settled then we will continue as we planned here." The hold was not decided by Walmart, Saikat told Reuters, but by Classic Fashion itself. Walmart did not respond to a request for comment. Bangladesh is currently in talks with the United States in Washington to try to negotiate a lower tariff. Trump in recent days has revived threats of higher levies on numerous nations. "If the 35 per cent tariff remains for Bangladesh, that will be very tough to sustain, honestly speaking, and there will not be as many orders as we have now," said Mohiuddin Rubel, managing director at jeans manufacturer Denim Expert Ltd in Dhaka. Rubel, whose company produces jeans for H&M and other retailers, said he expects clients will ask him to absorb part of the tariff, but added this would not be possible financially. Manufacturers have already absorbed part of the blanket ten per cent tariff imposed by the US on April 2. "Only probably the big, big companies can a little bit sustain (tariffs) but not the small and medium companies," he said. Retailers have front-loaded orders since Trump returned to the White House, anticipating higher tariffs. Jeans maker Levi's, which imports from Bangladesh, said on Thursday it has 60 per cent of the inventory it needs for the rest of 2025. US clothing imports from Bangladesh totaled US$3.38 billion in the first five months of 2025, up 21 per cent from the year-earlier period, according to US International Trade Commission data. Another Dhaka-based garment factory owner said an importer with whom he was negotiating a spring 2026 order of trousers for Walmart asked him on Thursday to wait a week before the order would be confirmed due to the tariff risk. Hossain said he may look for more orders from European clients to make up for lost orders if the US 35 per cent tariff gets implemented, even if he has to cut prices to stimulate demand. - Reuters


Malaysian Reserve
an hour ago
- Malaysian Reserve
3D forest mapping system can enhance Sarawak's carbon trading capacity
A cutting-edge three-dimensional (3D) forest mapping system developed by the Forest Department Sarawak (FDS) could strengthen the state's carbon trading capacity by identifying forest segments with high carbon sequestration potential. Sarawak Premier Tan Sri Abang Johari Tun Openg (picture) said he was impressed by the system, which provides essential data on a forest's capacity to absorb carbon—an important element in carbon trading. 'If we have the data, as I saw in the 3D (forest mapping system), we can determine the aggregate absorption capacity of our forests. Because the price of carbon is determined by the open market, we now have data that could support the imposition of a levy or carbon tax based on our forests' carbon absorption capacity,' he said. Speaking at the Sarawak-level International Day of Forests celebration here today, he said the state must continue developing new technologies to advance its green economy agenda, where development must not come at the expense of the environment. 'Our policy, which I want to share with you, is that the Sarawak government prioritises our natural resources. These resources must be managed prudently, and that will drive economic development through the opportunities created by our environmental conservation efforts,' he said. Abang Johari said the Sarawak government is also integrating circular economy principles into its green economy initiatives, including promoting recycling processes, particularly from palm oil mills and livestock waste, to produce green energy sources such as hydrogen and methane. He said Sarawak's circular economy model was among the topics highlighted in his keynote address at the ASEAN Summit in Kuala Lumpur in May, where his phrase 'don't waste the wastes, monetise the wastes' drew the attention of attending economists. Abang Johari said that the state circular economy approach was one of the matters that he highlighted in his keynote address at the ASEAN Summit in Kuala Lumpur recently, to which his phrase of 'don't waste the wastes, monetise the wastes' attracted the attention of economists attending the event. 'I mentioned this because our policy takes into account how we can sustain the environment while developing our state,' he said. According to him, Sarawak's green economy initiative was also acknowledged at the World Asia Hydrogen Conference 2025 in Tokyo, where he delivered a keynote address last Thursday. He also revealed that he has been invited to deliver a similar address at the World Economic Forum in Davos, Switzerland. 'I was informed that they will invite me to share our policy at the World Economic Forum in Davos. That means the world has acknowledged us,' he added. — BERNAMA


The Sun
an hour ago
- The Sun
Sarawak's 3D forest mapping boosts carbon trading potential
KUCHING: A state-of-the-art 3D forest mapping system developed by the Forest Department Sarawak (FDS) could significantly improve the state's carbon trading capabilities by pinpointing forest areas with high carbon sequestration potential. Sarawak Premier Tan Sri Abang Johari Tun Openg praised the system for providing crucial data on forest carbon absorption, a key factor in carbon trading. 'If we have the data, as I saw in the 3D forest mapping system, we can determine the aggregate absorption capacity of our forests,' he said. Speaking at the Sarawak-level International Day of Forests celebration, Abang Johari emphasised the need for technological advancements to support the state's green economy agenda. He stressed that development must not compromise environmental sustainability. 'Our policy is that the Sarawak government prioritises natural resources. These must be managed prudently to drive economic growth through environmental conservation,' he added. The state is also adopting circular economy principles, including recycling waste from palm oil mills and livestock to produce green energy sources like hydrogen and methane. Abang Johari highlighted this approach during his keynote at the ASEAN Summit in Kuala Lumpur, where his phrase 'don't waste the wastes, monetise the wastes' resonated with economists. Sarawak's green initiatives have gained global recognition, including at the World Asia Hydrogen Conference 2025 in Tokyo. The Premier revealed he has been invited to speak at the World Economic Forum in Davos, Switzerland. 'The world has acknowledged us,' he said. - Bernama