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Int'l Business Times
02-07-2025
- Business
- Int'l Business Times
Trump Says Vietnam To Face 20% Tariff Under 'Great' Deal
President Donald Trump announced Wednesday that he had struck a trade deal with Vietnam under which the country would face a minimum 20 percent tariff and open its market to US products. The deal comes less than a week before Trump's self-imposed July 9 deadline for steeper tariffs on US trade partners to take effect if agreements are not reached. Shares in clothing companies and sport equipment manufacturers -- which have a large footprint in Vietnam -- rose on the news, but later declined sharply after the president released details including the continued tariffs, which were higher than expected. If confirmed, the terms of the agreement will significantly increase the price of shoes and clothing that Vietnam exports to the United States, but Hanoi escapes the threat of the more severe 46 percent tariff threatened by Trump in April. "It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam," Trump wrote on his Truth Social platform. He said that under the "Great Deal of Cooperation," imports of Vietnamese goods will face a 20 percent US tariff, while goods that pass through Vietnam to circumvent steeper trade barriers -- so-called "transshipping" -- will see a 40 percent tariff. Trump's trade advisor Peter Navarro has called Vietnam a "colony of China," saying that one third of Vietnamese products are in fact relabelled Chinese goods. Trump said that "in return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade," he said. "In other words, they will 'OPEN THEIR MARKET TO THE UNITED STATES,' meaning that we will be able to sell our product into Vietnam at ZERO Tariff." The president said he believed US-made SUVs, "which do so well in the United States, will be a wonderful addition to the various product lines within Vietnam." In a government statement, Vietnam confirmed that negotiating teams had come to an agreement to address the reciprocal tariff issue, but did not detail any tariff terms. Trump "affirmed that the US will significantly reduce reciprocal taxes for many Vietnamese export goods and will continue to cooperate with Vietnam in resolving difficulties affecting bilateral trade relations, especially in areas prioritized by both sides," the statement said. Trump's announcement comes a week before the threatened US reimposition of steep tariffs on dozens of economies, including the European Union and Japan, many of which are still scrambling to reach deals that would protect them from the measures. Those higher tariffs are part of a package Trump initially imposed in April, citing a lack of "reciprocity" in trading relationships, before announcing a temporary lowering to 10 percent. Without a deal, Vietnam's "reciprocal tariff" would have risen from the baseline 10 percent to 46 percent. Since April, Washington had so far only announced a pact with Britain and a deal to temporarily lower retaliatory duties with China. Both involve the United States maintaining some of Trump's tariffs on the trading partners. The terms of the UK deal are more narrowly focused than those announced by Trump with Vietnam, with London and Washington agreeing to cut US tariffs on cars from 27.5 percent to 10 percent, with a limit of 100,000 vehicles a year. It also fully eliminated the 10 percent tariff on goods such as engines and aircraft parts. In return, Britain agreed to further open its market to US ethanol and beef. US President Donald Trump says Vietnam is taking the unprecedented step of giving exports from the United States 'total access' to the Asian country's markets AFP
Japan Today
25-06-2025
- Business
- Japan Today
Trump says China can buy Iranian oil, but urges it to purchase US crude
An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS/File Photo By Timothy Gardner U.S. President Donald Trump said on Tuesday that China can continue to purchase Iranian oil after Israel and Iran agreed to a ceasefire, a move that the White House clarified did not indicate a relaxation of U.S. sanctions. "China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the U.S., also," Trump said in a post on Truth Social, just days after he ordered U.S. bombings of three Iranian nuclear sites. Trump was drawing attention to no attempts by Iran so far to close the Strait of Hormuz to oil tankers, as a closure would have been hard for China, the world's top importer of Iranian oil, a senior White House official told Reuters. "The president continues to call on China and all countries to import our state-of-the-art oil rather than import Iranian oil in violation of U.S. sanctions," the official said. After the ceasefire announcement, Trump's comments on China were another bearish signal for oil prices, which fell nearly 6% on Tuesday. Any relaxation of sanctions enforcement on Iran would mark a U.S. policy shift after Trump said in February he was re-imposing maximum pressure on Iran, aiming to drive its oil exports to zero, over its nuclear program and funding of militants across the Middle East. Trump imposed waves of Iran-related sanctions on several of China's independent "teapot" refineries and port terminal operators for purchases of Iranian oil. "President Trump's greenlight for China to keep buying Iranian oil reflects a return to lax enforcement standards," said Scott Modell, a former CIA officer, now CEO of Rapidan Energy Group. In addition to not enforcing sanctions, Trump could suspend or waive sanctions imposed by executive order or under authorities a president is granted in laws passed by Congress. Trump will likely not waive sanctions ahead of coming rounds of U.S.-Iran nuclear talks, Modell said. The measures provide leverage given Tehran's demand that any deal includes lifting them permanently. Jeremy Paner, a partner at law firm Hughes Hubbard & Reed, said if Trump chooses to suspend Iran oil-related sanctions, it would require lots of work between agencies. The U.S. Treasury would need to issue licenses, and the State Department would have to issue waivers, which require Congressional notification. Oil traders and analysts in Asia said they did not expect Trump's comments to have a near-term impact on Chinese purchases of oil from either Iran or the U.S. Iranian oil accounts for roughly 13.6% of China's oil purchases this year, with the discounted barrels providing a lifeline to margin-squeezed independent refineries. U.S. oil accounts for just 2% of China's imports, and Beijing's 10% tariffs on U.S. oil deter further purchases. PRESSURE ON CHINA China has long opposed what it has called Washington's "abuse of illegal unilateral sanctions." China's embassy in Washington did not immediately respond to a request for comment about Trump's post. Larger purchases of Iranian oil by China and other consumers could upset U.S. ally Saudi Arabia, the world's largest oil exporter. The impact of U.S. sanctions on Iran's exports, however, has been limited since Trump's first administration when he cracked down harder on Tehran. Trump has "flashed the Glock" this year with sanctions on Chinese trading companies and terminals, Modell said, referring to revealing a gun. But the results have been far more "minimum pressure" than maximum, Modell added. State Department spokesperson Tammy Bruce told reporters that Trump had signaled what he wanted to happen and that his administration is focused on delivering that. She would not say what the process would entail. "But clearly we are focused on making sure that (the) guiding hand of President Trump prevails and moves this government forward, so we will have to wait and see when it comes to what that ends up looking like," Bruce said. © Thomson Reuters 2025.
India Today
15-06-2025
- Politics
- India Today
Trump vetoed Israel's plan to assassinate Iran's Supreme Leader: Report
US President Donald Trump vetoed an Israeli plan to assassinate Iran's Supreme Leader Ayatollah Ali Khamenei, two US officials informed Reuters. One senior administration official was quoted saying, "Have the Iranians killed an American yet? No. Until they do, we're not even talking about going after the political leadership."When asked about the report, Israeli Prime Minister Benjamin Netanyahu declined to comment and said, "There's so many false reports of conversations that never happened, and I'm not going to get into that."advertisement"But I can tell you, I think that we do what we need to do, we'll do what we need to do. And I think the United States knows what is good for the United States," Netanyahu added. According to Reuters, top US officials said that Washington has been in constant contact with Israeli counterparts following Israel's large-scale assault on Iran aimed at halting its nuclear program. While it remains unclear whether Trump directly conveyed the decision, sources confirmed he has been in regular communication with PM Netanyahu throughout the a separate televised interview with Fox News, Netanyahu suggested that regime change in Iran could be a consequence of Israel's ongoing military campaign, which began Friday. He confirmed he had notified Trump ahead of the the worsening conflict, Trump struck a dual tone. On his social media platform Truth Social, he issued a stern warning to Tehran, vowing that 'the full strength and might of the US armed forces' would be unleashed if Iran targets American we are attacked in any way, shape, or form by Iran, the full strength and might of the US armed forces will come down on you at levels never seen before,' Trump warning to Iran came after Tehran reportedly threatened to target US, UK and French military bases and ships in the region if they attempted to block Iranian strikes on Israel, Reuters the same time, he expressed hope for diplomacy, saying, 'We can easily get a deal done between Iran and Israel and end this bloody conflict.'Amid the rising tensions, Trump again urged both Iran and Israel to 'make a deal', saying that diplomacy as a way forward. He also claimed that his past efforts had brought peace between several nations, though he lamented that he 'never got credit' for those also pointed to his administration's role in easing tensions between Serbia and Kosovo, as well as helping to foster peace between Egypt and Ethiopia over earlier Turkish President Recep Tayyip Erdogan, in a phone call with Trump on Sunday, offered Ankara's support as a mediator to help resolve the nuclear dispute fueling the crisis between Israel and Israel launched a third consecutive day of airstrikes on targets inside Iran, some of which reportedly bypassed air defense systems and struck central urban areas. Israel has threatened further to Washington-based Human Rights Activists, an NGO monitoring developments in Iran, at least 406 people have been killed and 654 wounded in the strikes so far. The Iranian government has not released official casualty figures. Diplomatic talks aimed at de-escalating the crisis and addressing Iran's nuclear program were reportedly canceled in light of the ongoing InMust Watch IN THIS STORY#United States of America
Winnipeg Free Press
20-05-2025
- Politics
- Winnipeg Free Press
Former FBI director James Comey calls controversy over Instagram post 'a bit of a distraction'
NEW YORK (AP) — Former FBI director James Comey says that he's still a bit bewildered over how a seemingly innocent Instagram shot of shells arranged in the sand led to allegations by Donald Trump among others that he was calling for the president's assassination and to an interview with the Secret Service. 'It's been a bit of a distraction, honestly,' Comey said with a weary laugh Monday night during an appearance at a Barnes & Noble on Manhattan's Upper West Side. Comey was promoting 'FDR Drive,' a crime novel coming out this week. One of the book's themes, ironically, is weighing the potential of speech to incite others to violence. Comey, whom Trump fired in 2017 amid an FBI investigation into potential ties between Russia and Trump's first presidential campaign, explained Monday that he and his wife, Patrice, had been returning from a walk on the beach last Thursday when they came upon some shells organized in a way that resembled numbers, including '86.' They speculated over whether it was a home address, or a political message. His wife noted that '86' in some restaurants means they had run out of an ingredient. Comey remembered it was slang for saying something was boring and should be 'ditched.' 'And she said, 'You should take a picture of it.' So I took a picture of it, and then we walk home and she said, 'You should really put that on Instagram. It's kind of a cool thing.' I said, 'You're right. It's a cool thing,'' he explained. To many viewers, the numbers seemed to spell out 86 and 47. Merriam-Webster, the dictionary used by The Associated Press, says 86 is slang meaning 'to throw out,' 'to get rid of' or 'to refuse service to.' It notes: 'Among the most recent senses adopted is a logical extension of the previous ones, with the meaning of 'to kill.'' Trump is the country's 47th president. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. 'Some hours later she (Patrice) said to me, 'You know, people on the internet are saying you're calling for the assassination of Donald Trump,' Comey explained. 'And I said, 'Well, if they're saying that, I'm taking it down because I don't want any part of violence.'' Comey quickly pulled the image, but it had already reached the attention of Trump and other administration officials, including Homeland Security Secretary Kristi Noem and FBI Director Kash Patel. Trump himself, interviewed on Friday on Fox News, said that Comey 'knew exactly what that meant. A child knows what that meant. If you're the FBI director and you don't know what that meant, that meant assassination. And it says it loud and clear.' Comey confirmed Monday that he received a call from the Secret Service later Thursday, spoke to them on the phone and agreed to meet with them in person. 'And so they gave me a ride to their headquarters, the Washington field office interviewed me,' he said. 'It seems like a year ago, but it was Friday, right? I told them what I just told you. And so I, it seems like a thing that I don't fully understand and maybe it'll go away now.' Comey has written several books since Trump fired him, including the million-selling memoir 'A Higher Loyalty.' More recently, he has taken up fiction, his previous novels including 'Central Park Drive' and 'Westport.'
CNN
01-05-2025
- Health
- CNN
Worldwide protests on May Day
Worldwide protests on May Day Thousands of people across the country and around the world are demonstrating in the streets to celebrate May Day for various political reasons. Video shows protests turn violent in Paris. 01:03 - Source: CNN Automated CNN Shorts 11 videos Worldwide protests on May Day Thousands of people across the country and around the world are demonstrating in the streets to celebrate May Day for various political reasons. Video shows protests turn violent in Paris. 01:03 - Source: CNN Hundreds of dachshunds gather in Hungary in record breaking attempt In Hungary, dachshunds and their owners gathered in an attempt to break the record of biggest ever dog walk – a record previously set at 897 by the German city of Regensburg. The Hungarian Records of Association tallied the dogs as they walked through the street with their owners. 00:41 - Source: CNN Professor says Trump missing one major instrument of power Harvard professor emeritus Joseph Nye Jr. joins CNN's Jim Sciutto to discuss soft power, a term Nye uses to describe the measure of a nation's strength beyond force and money to persuade others, and how President Trump is missing this major instrument of power. 00:52 - Source: CNN Measles questions answered: When should my child be vaccinated? As The Trump administration marks its first hundred days it is facing a deadly measles outbreak across multiple US states. Dr. Sanjay Gupta answers your questions about how to protect young infants and when is the best time to have your child vaccinated against the disease. 02:08 - Source: CNN HHS releases controversial report on transgender children The US Department of Health and Human Services has released a 400-page review of treatment for gender dysphoria in children but did not disclose who authored or reviewed the report. CNN's Ben Hunte explains. 00:57 - Source: CNN State Dept. official appears caught off-guard by Cabinet shakeup State Department spokesperson Tammy Bruce appeared caught off-guard by the news of the appointment of Secretary of State Marco Rubio as interim national security adviser after CNN's Kylie Atwood informed her that President Trump had nominated Mike Waltz to be US ambassador to the United Nations. 01:12 - Source: CNN Detainees signal 'SOS' at immigrant detention center Detainees created an SOS message at the Bluebonnet Detention Center in Texas. The detention center houses detainees including migrants accused of being gang members and facing deportation under the 1798 Alien Enemies Act before the Supreme Court issued a temporary block in April. 00:32 - Source: CNN Why Mike Waltz is expected to exit Trump's admin. National security adviser Mike Waltz is expected to depart from the administration in the coming days, two sources familiar with the matter told CNN. CNN's Kaitlan Collins reports. 01:23 - Source: CNN What the US-Ukraine minerals deal actually means The United States and Ukraine have signed an 'economic partnership agreement' that will give Washington access to Kyiv's mineral resources in exchange for establishing an investment fund in Ukraine. CNN's Nick Paton Walsh explains what the deal could mean for the possibility of ending the war. 01:24 - Source: CNN How rich is the Ivy League? The Trump Administration has frozen billions of dollars in federal funding to Ivy League schools. These same institutions have endowments bigger than the GDPs of some small countries. So why do these universities need money from the federal government and what's at stake if they lose it? 02:49 - Source: CNN Geoscientists discover magma cap beneath Yellowstone Geoscientists have discovered a magma cap beneath Yellowstone National Park, providing new insights into one of the world's largest active volcanic systems. CNN's Nick Valencia explains how the cap acts like a natural pressure-release valve. 00:49 - Source: CNN
