live Trump, Vance and Iranian parliament speaker sign U.S.-Iran memorandum
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump...
Indonesia is redirecting shrimp exports to China after new U.S. tariffs of 19% froze orders from its top buyer, risking a 30% drop in sales and one million jobs. The $1.7 billion industry faces steep losses as exporters scramble to find alternative markets.
The United States previously accounted for 60% of Indonesia’s shrimp exports, but the sudden tariff hike in July forced importers to pause shipments. Farmers say new orders have stalled, expansion plans have been shelved, and confidence in the U.S. market has collapsed.
China, the world’s largest shrimp importer, had sourced only 2% of its supply from Indonesia before the tariff decision. Now, Indonesian trade officials are touring southern Chinese cities to meet buyers, restaurant chains, and seafood platforms.
“Imagine if we could take just 20% of China’s import market,” said Andi Tamsil of the Indonesian shrimp farmers’ association, referencing China’s annual imports of one million tonnes. “That would be a massive boost for us.”
Indonesia is also exploring growth in other regions, including the Middle East, Taiwan, South Korea, and the European Union. A free trade agreement with Brussels is reportedly near completion, which industry leaders hope will open new long-term opportunities.
Still, the outlook remains cautious. “The new tariff puts us at a disadvantage compared to exporters like Ecuador, which faces a lower 15% rate,” said Budhi Wibowo, head of Indonesia’s seafood exporters’ association.
West Java shrimp farmer Denny Leonardo said his company was preparing to scale back investment.
“I am optimistic that my company could survive because there will still be supply and demand. But for growth, I am not that optimistic.”
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf.
Israeli Prime Minister Benjamin Netanyahu has told U.S. President Donald Trump that Israel does not consider itself bound by a Lebanon-related provision in an emerging agreement with Iran, according to Israeli officials.
Switzerland on Sunday rejected a referendum proposal to cap its population at 10 million, a projection showed, as voters prioritised economic stability and the country's ties with the European Union over immigration concerns.
One month after Ebola cases were confirmed in eastern Democratic Republic of the Congo, health officials and aid organisations say the true extent of the outbreak remains unclear because of major gaps in testing, reporting and disease surveillance.
Firefighters and workers were clearing debris on Monday after what Ukraine described as a deliberate Russian strike severely damaged a nearly 1,000-year-old cathedral in Kyiv, one of the country's most important religious and cultural landmarks.
Pakistan's political leadership on Monday welcomed a breakthrough agreement between the U.S. and Iran aimed at ending more than three months of conflict, with Prime Minister Shehbaz Sharif describing it as a major diplomatic success and a victory for peace.
Spain has received around 900,000 applications from undocumented migrants seeking legal status under a government regularisation programme. The influx has far exceeded initial expectations, the Migration Ministry said on Monday.
A Ukrainian man has been found guilty of carrying out a series of arson attacks on properties linked to British Prime Minister Keir Starmer after being recruited by a mystery figure known only as "EL Money".
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