Kazakhstan, Afghanistan to build new railway link connecting Central Asia and South Asia
Kazakhstan's Ministry of Transport and Afghanistan's Ministry of Public Works have reached an agreement on the construction of a new railway line to c...
Japan is set to engage in crucial tariff negotiations with the United States on Wednesday, marking one of the first tests of President Donald Trump’s willingness to adjust the sweeping import duties that have sent shockwaves through global markets and stoked fears of an impending recession.
Trump announced that he would personally attend the high-level talks, which will be focused on several key issues, including tariffs, military support costs, and "trade fairness." The meeting will involve Japan’s top trade negotiator, Ryosei Akazawa, along with U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer. Trump expressed optimism on Truth Social, stating, "Hopefully something can be worked out which is good (GREAT!) for Japan and the USA!"
Japan has been subject to a 24% tariff on its exports to the U.S., though these duties have been paused for 90 days. A 10% universal tariff remains in place, alongside a 25% levy on cars, a key product for Japan’s export-driven economy. This situation has created significant friction as Japan seeks to protect its vital industries while addressing Trump's concerns over the trade deficit and unfair trade practices.
In the lead-up to the talks, Japanese Prime Minister Shigeru Ishiba emphasized that Japan would not rush to make concessions and would not consider countermeasures to U.S. tariffs at this stage. "The difficulty for the Japanese team is that the United States has created a huge amount of leverage for itself, unilaterally," said Kurt Tong, managing partner at The Asia Group. "Japan feels like it's being asked to offer a lot of carrots while receiving no guarantees from the U.S."
The Trump administration has long criticized the U.S. trade deficit with Japan and other countries, accusing them of engaging in trade practices that benefit their economies at the expense of American businesses. In this context, the U.S. has pushed for a deal that includes not just tariffs, but also issues such as exchange rates and non-tariff barriers. However, Japan has lobbied to keep exchange rate discussions separate from tariff talks.
Japan is also hoping to make headway in the discussions by offering to increase investments in the United States, including a potential multi-billion-dollar gas project in Alaska. Akazawa has said that Japan hopes this investment pledge will help convince the U.S. that a mutually beneficial, tariff-free agreement is possible.
In addition to trade, the discussions will also touch on Japan’s contribution to the cost of hosting U.S. troops in the country, which represents the largest U.S. military deployment abroad.
The outcome of these negotiations will have significant implications for global trade dynamics, as the U.S. seeks to recalibrate its relationships with major trade partners. The talks come amid similar negotiations with other countries, including Vietnam and South Korea, as the Trump administration looks to reshape the global trade landscape.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
On July 4, Azerbaijani President Ilham Aliyev met with Turkish President Recep Tayyip Erdoğan in Khankendi, reaffirming the deep-rooted alliance between the two nations.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
France recorded over 100 drowning deaths in just one month — a 58% rise from last year — as unusually high temperatures drove more people to water, public health officials say.
Migration offset natural decline for the fourth consecutive year, pushing the European Union’s population to an historic high of 450.4 million in 2024, according to Eurostat figures released on Friday.
Germany’s public debt is projected to climb from 62.5% to 74% of GDP by 2030, driven by record defence and infrastructure spending, according to a report by the European rating agency Scope.
The global oil market may be tighter than headline supply-demand figures suggest, the International Energy Agency (IEA) said Friday, citing rising refinery activity and seasonal summer demand as key drivers of short-term market pressure.
China’s exports are expected to have grown 5% in June as manufacturers hurried goods abroad ahead of a 12 August deadline that could see the U.S. restore punitive tariffs, a Reuters survey of economists indicates.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment