Australia seals $1.3B U.S. missile deal, rejects higher defence target
Australia has confirmed a $1.3 billion missile deal with the U.S., highlighting its defence priorities, while stopping short of committing to Washingt...
U.S. Treasury Secretary Scott Bessent left ongoing trade talks with China on Tuesday to return to Washington, D.C., where he is scheduled to testify before Congress.
Bessent said the negotiations, held at Lancaster House near Buckingham Palace in London, have been productive so far. He confirmed that Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer will stay in London to continue talks with the Chinese delegation.
The trade talks come at a sensitive time in the ongoing U.S.-China trade tensions. Key issues include easing U.S. export controls on China in exchange for Beijing opening up exports of rare earth minerals vital for tech industries.
China’s delegation includes Vice Premier He Lifeng, Commerce Minister Wang Wentao, and lead trade negotiator Li Chenggang. Both sides aim to reach an agreement that could ease trade frictions after recent tariff reductions agreed in Geneva.
Lutnick said earlier that both parties were “trying to finish” the talks by Tuesday evening, but discussions are continuing as needed.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
Australia has finalised a A$2 billion ($1.3 billion) purchase of U.S.-made supersonic missiles, reinforcing its commitment to defence investment while stopping short of U.S. calls to adopt a higher military spending target.
U.S. President Donald Trump has announced a reduced 20% tariff on many Vietnamese exports, down from a previously planned 46%, in what he described as a new trade framework with Hanoi.
China’s northern and western provinces are on high alert for flash floods and landslides as intense monsoon rains continue to overwhelm defences, killing at least seven and displacing communities across the country.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
Australia has confirmed a $1.3 billion missile deal with the U.S., highlighting its defence priorities, while stopping short of committing to Washington’s 3.5% GDP spending target.
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