In the latest on President Donald Trump's trade-tariff onslaught, sources say the Malaysian government is seeking to lower tariffs to about 20% but is reluctant to meet some US demands around electric vehicles and foreign ownership. Japan's chief trade negotiator met with US Commerce Secretary Howard Lutnick in Washington yesterday for an eighth round of so-far fruitless talks since April. The Brazilian mining industry warned it could face as much as $1 billion in additional costs if the government retaliates against the threatened 50% levy starting Aug. 1. Ukraine's new prime minister, Yuliia Svyrydenko, said she's likely to seek more financing from the International Monetary Fund to shore up the nation's fiscal needs with no end in sight to Russia's war. In her first interview since taking office as Ukraine's second female premier, Svyrydenko, 39, said global donors have earmarked only half of the estimated $75 billion the budget requires over the next two years. Yuliia Svyrydenko. Photographer: Olga Ivashchenko/Bloomberg Leftist leaders attending a pro-democracy summit in Chile sought to avoid conflict with Trump by steering clear of any mention of US tariffs in a joint statement. Only when asked directly about the US leader did Brazil's Luiz Inácio Lula da Silva threaten a tariff war "if he doesn't change his mind," referring to Trump's threat to slap duties on the world's top coffee producer and his defense of former President Jair Bolsonaro. Trump issued an executive order in April expediting US licensing of seabed mining for rocks rich in electric-vehicle battery metals, departing from international law to unleash what the administration called a "gold rush" to "counter China's growing influence." Read our feature here on the race to harvest the planet's largest estimated reserves of minerals like cobalt and nickel in the form of black rocks called polymetallic nodules, which cover the Pacific Ocean floor by the billions. Greenpeace protesters hang a banner reading, "Don't Go to Sea With Trump" from a building in Delft, Netherlands, on July 3. Photographer: Marten van Dijl/Greenpeace South African President Cyril Ramaphosa ousted his embattled higher education minister, easing tensions within the governing alliance and clearing the path for the national budget to be approved. The dismissal of Nobuhle Nkabane, who faced allegations of lying to parliament, marks the second time this month Ramaphosa has acted against ministers from his African National Congress party who've faced accusations of wrongdoing. Turkey will seek a new deal with Iraq on an oil-export pipeline between the two countries that's been idled for more than two years in a payment dispute. WATCH: Patrick Sykes reports on the pipeline agreement on Bloomberg TV. The US State Department confirmed that a Patent and Trademark Office employee has been barred from leaving China following a report in the Washington Post of an apparent failure by the US citizen to disclose on a visa application that he worked for the government in Washington. Colombia's security firms and hospitals are warning of job cuts and surging costs as a knock-on effect of President Gustavo Petro's push to boost worker benefits. Ahead of top-level talks with Japan and China this week, European Union officials have high expectations for better defense and trade cooperation with Tokyo but limited hopes for the discussions in Beijing. |
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