Chinese firms shift to Indonesia amid U.S. tariff pressure and local demand
Chinese companies are ramping up investment in Indonesia to avoid steep U.S. import tariffs and tap into Southeast Asia’s largest consumer market....
The United States and China have resolved disputes over rare earth mineral and magnet shipments, overcoming a key hurdle that had delayed a trade agreement reached in May.
China had suspended exports of critical minerals and magnets to the U.S. in retaliation against new American tariffs, disrupting supply chains vital to industries including automotive, aerospace, semiconductors, and defense. Though Beijing agreed in May during trade talks in Geneva to lift these restrictions, shipments did not resume as quickly as expected. This led the U.S. to implement countermeasures.
Following a phone call between Presidents Donald Trump and Xi Jinping and subsequent negotiations in London, both sides agreed on a framework to expedite shipments of these materials to the U.S. Treasury Secretary Bessent expressed confidence that magnet shipments would now flow as agreed.
While China's commerce ministry confirmed the framework's details and promised to approve export applications legally, rare earth exports remain subject to strict controls due to concerns over potential military use, slowing licensing processes.
The initial Geneva deal stalled because of China’s export curbs, prompting the U.S. to impose export controls on Chinese semiconductor design software, aircraft, and other goods. However, temporary licenses granted in early June helped ease supply chain issues, including to top U.S. automakers.
President Trump has also linked this trade progress to educational exchanges, noting the U.S. would continue allowing Chinese students in American institutions.
Despite these advances, the agreement highlights the challenges remaining before a comprehensive trade deal between the two global powers can be finalized.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
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.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A resumption of Iraq’s Kurdish oil exports is not expected in the near term, sources familiar with the matter said on Friday, despite an announcement by Iraq’s federal government a day earlier stating that shipments would resume immediately.
A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data.
U.S. Secretary of State Marco Rubio has revoked or restricted visas on Wednesday, for certain officials from Africa, the Caribbean, and Brazil tied to Cuba’s overseas medical worker program, citing concerns over forced labor and financial exploitation.
North Korea’s Kim Yo Jong, a senior official in the ruling Workers’ Party, said on Thursday that South Korea’s belief in Pyongyang’s response to peace overtures is a “pipedream.”
U.S. President Donald Trump warned of “severe consequences” if Russia’s Vladimir Putin refuses to agree to peace in Ukraine, while suggesting a follow-up meeting could include Ukrainian President Volodymyr Zelenskyy.
The U.S. Department of Energy announced on Wednesday that the Trump administration has unveiled a nearly $1 billion funding plan to boost U.S. production of critical minerals and materials, aiming to reduce reliance on foreign suppliers, particularly China.
The Philippine government reported that a Chinese jet fighter intercepted a Philippine Coast Guard (PCG) aircraft with journalists onboard during a patrol over the Scarborough Shoal on 13 August, further straining tensions in the South China Sea.
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