Sterling, yen dragged by fiscal and political worries
The pound and the yen came under strain on Wednesday, weighed down by renewed investor concerns over global fiscal health and political uncertainty in...
U.S. President Donald Trump hosted Philippine President Ferdinand Marcos Jr. at the White House on Tuesday, announcing that the two countries were nearing completion of a significant trade agreement.
“We’re going to discuss trade today, and we’re very close to finalising a major deal,” Trump told reporters as the meeting began.
Marcos is the first Southeast Asian leader to visit Trump during his second term. The U.S. president has already secured trade agreements with Vietnam and Indonesia- key regional allies but has adopted a firm stance even with long-standing partners, amid intensifying strategic competition with China.
Last year, the United States recorded a nearly $5 billion trade deficit with the Philippines out of $23.5 billion in bilateral goods trade. Earlier this month, Trump increased proposed tariffs on Philippine imports from 17% to 20%, describing them as “reciprocal” measures.
Trump noted the scale of trade between the two countries, expressing surprise at what he described as “very big numbers” that he believes will increase further once a trade deal is signed.
Gregory Poling, a Southeast Asia analyst at the Center for Strategic and International Studies in Washington, suggested that Marcos may secure more favourable terms than those agreed by Vietnam (20% baseline tariff) and Indonesia (19%).
Trump also highlighted the strength of the U.S.-Philippine defence partnership, saying, “They’re a militarily important nation, and we’ve conducted some excellent joint exercises recently.”
Marcos, who arrived in Washington on Sunday, held talks at the Pentagon with U.S. Defense Secretary Pete Hegseth on Monday and later met Secretary of State Marco Rubio. He is also scheduled to meet with American business leaders interested in investing in the Philippines.
According to Philippine officials, Marcos intends to emphasise that economic resilience is essential for the country to play a meaningful role as a U.S. partner in the Indo-Pacific region.
Assistant Foreign Secretary Raquel Solano stated last week that Philippine trade negotiators have been working closely with U.S. counterparts to reach a “mutually acceptable and beneficial” agreement.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Ukraine’s air defence systems were activated in Kyiv on Wednesday as the capital came under a new Russian air attack. Authorities urged residents to remain in shelters during the strikes.
China launched its largest military parade on Wednesday, showcasing growing firepower as President Xi Jinping sought to project Beijing’s role on the global stage. Russian President Vladimir Putin and North Korean leader Kim Jong Un were among the leaders attending at Tiananmen Square.
China held its largest-ever military parade on Wednesday, showcasing its growing military power and geopolitical influence as President Xi Jinping positions Beijing as a custodian of the post-U.S. international order.
U.S. forces carried out a precision strike on a suspected transnational drug vessel in the southern Caribbean, killing all 11 people aboard, President Donald Trump and the Pentagon confirmed on Tuesday.
Moscow maintains that negotiations between Russia and Ukraine should continue, but stresses that progress is only possible if what it calls the “new territorial realities” are acknowledged.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment