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Fed adds video tour footage to building renovation information page on website

Fed adds video tour footage to building renovation information page on website

The Standard5 days ago
The Federal Reserve building is seen as it goes under construction on July 17, 2025 in Washington, DC. U.S. AFP
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Africa looks to China as ‘beneficial partner' while US imposes tariffs, aid and visa cuts
Africa looks to China as ‘beneficial partner' while US imposes tariffs, aid and visa cuts

South China Morning Post

time38 minutes ago

  • South China Morning Post

Africa looks to China as ‘beneficial partner' while US imposes tariffs, aid and visa cuts

The United States is losing ground to China for influence in Africa , according to analysts, as Beijing's expansive trade policies and economic engagement outpace Washington's increasingly restrictive approach. Advertisement The assessment came after China announced last month it would expand duty-free access for all taxable products for 53 African countries – all except Eswatini. Beijing's move stands in stark contrast to Washington's levying of trade tariffs, aid cuts and restrictive visa measures. The policy comes amid US threats to cut foreign aid by closing down USAID and imposing visa restrictions on countries including Cameroon, Ethiopia, Ghana, Nigeria and Somalia. From August 1, the US also plans to impose higher reciprocal tariffs on imports from nations such as Algeria, Libya, South Africa and Tunisia. Observers said the duty-free plan was a major narrative win for China. The move is likely to further endear Beijing to African nations, which are increasingly viewing China as a more reliable and beneficial partner. Cameron Hudson, a former US official and senior associate with the Africa programme at the Centre for Strategic and International Studies in Washington, said what was more troubling was that Washington had long believed its aid and humanitarian help to Africa would buy it the goodwill to be able to pursue whatever policies it wanted, no matter the consequences. Advertisement But this had not been the case for a long time, he noted.

Nasa to slash workforce by one-fifth amid efficiency drive
Nasa to slash workforce by one-fifth amid efficiency drive

South China Morning Post

time4 hours ago

  • South China Morning Post

Nasa to slash workforce by one-fifth amid efficiency drive

About 20 per cent of Nasa 's employees are set to depart the US space agency. Advertisement The National Aeronautics and Space Administration said in a statement on Friday that around 3,870 people were expected to depart. The remaining number of employees at the agency would be around 14,000, it said. The voluntary resignation programme is part of a broad push from President Donald Trump 's administration to reduce the United States ' federal workforce. The numbers were subject to change as Nasa reviews applications, including if an employee withdrew from the programme or a resignation was not approved, the space agency said in its statement on Friday. Advertisement 'Safety remains a top priority for our agency as we balance the need to become a more streamlined and more efficient organisation and work to ensure we remain fully capable of pursuing a Golden Era of exploration and innovation, including to the moon and Mars,' Nasa said.

In Trump's tariff deals with Southeast Asia, will there be any winners?
In Trump's tariff deals with Southeast Asia, will there be any winners?

South China Morning Post

time5 hours ago

  • South China Morning Post

In Trump's tariff deals with Southeast Asia, will there be any winners?

Now that Donald Trump's arbitrary July 9 deadline for negotiations on 'reciprocal' tariffs has come and gone, what are the implications for Southeast Asia? To date, Vietnam, Indonesia and the Philippines are the only countries in the region to have secured so-called deals. Other countries are left with the previously announced April tariffs intact, although the negotiating deadline has been extended for three weeks to August 1. As things stand, there remain few winners in Southeast Asia in the ongoing saga. Details on the agreement with Vietnam are sparse, but it seems Hanoi has managed to get its initial 'reciprocal' tariff rate of 46 per cent reduced to 20 per cent. A 40 per cent tariff will be applied on transshipped products – without an exact definition of exactly what constitutes 'transshipment'. Trump posted on social media that Vietnam had granted the US 'TOTAL ACCESS' to its market, which seems to amount to a duty waiver on US products entering Vietnam. An artisan works on a pair of leather boots in Indonesia. Indonesian goods entering the US will face a 19 per cent tariff. Photo: AFP

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