The US has reached framework agreements with eight major trading partners on trade and investment concessions, reducing basic tariff rates. The EU, Japan, and South Korea will see their rates lowered to 15%, while Britain's rate is set at 10%. Vietnam, Indonesia, Pakistan, and the Philippines have agreed to rates of up to 19% or 20%.
Apple's Shares Rise with $100B US Investment Commitment
8.7.25
Apple's shares rose 1.6% in Frankfurt trade after committing an additional $100 billion in US investments, easing concerns about the impact of Washington's tariffs on semiconductor imports. President Donald Trump announced a new 100% tariff rate that would not apply to companies like Apple that have made a commitment to manufacture in the US. Citi analysts stated that concerns over incremental tariff impact on Apple have eased.
Cambodia and Thailand have agreed to end their border dispute after a five-day conflict that resulted in at least 43 deaths and displaced over 300,000 people. The two countries' top defence officials met in Malaysia to establish guidelines for resolving future disputes, restoring trust between their military forces, and agreeing on ceasefire measures. US President Donald Trump had previously threatened to halt tariff negotiations unless there was peace, but reduced the proposed tariff from 49% to 19%. Cambodia's deputy prime minister welcomed the reduction as a gesture of goodwill. The agreement comes after Pakistan nominated Trump for the Nobel Peace Prize in June, and Israeli Prime Minister Benjamin Netanyahu also nominated him last month.
Senator Mohammad Ishaq Dar, Pakistan's Deputy Prime Minister and Foreign Minister, chaired a meeting to review the country's Emigration, Overseas Employment and TVET policy. The ministry presented an overview of diaspora trends and emerging opportunities for skilled labor exports globally. Dar emphasized the need to invest in quality skill development, explore new sectors and destinations, and align Pakistan's human capital with global market demands. The meeting aimed to boost remittances, expand employment opportunities abroad, and enhance Pakistan's global competitiveness, while prioritizing the welfare of the diaspora as a policy pillar.
The production of single-use plastic products is a major contributor to global plastic pollution. According to Thompson, only 9% of plastic produced globally is recycled, and he advocates for a treaty that limits plastic production, reduces the use of chemicals, and promotes a circular economy of reuse. Graham Forbes, head of Greenpeace's delegation to treaty negotiations, warns that uncontrolled plastic production is catastrophic, and world leaders must take action in Geneva to address the issue and create a healthier future.
India Resists US Overreach with Pragmatic Partnerships
8.7.25
India's foreign policy autonomy is likely to be strengthened by the recent tariffs imposed by the US, as New Delhi seeks to resist what it perceives as US overreach. This may lead to pragmatic cooperation with Russia and China, but not an alliance of shared values. India remains committed to its strategic partnership with the US in areas like defense interoperability and technology transfer, but is making clear that this partnership cannot be based on obedience. The US-India relationship is bounded by structural competition, with differing visions for global order. India's efforts to build sovereign technology stacks and resist foreign data colonialism may accelerate its determination to shape global rules, potentially leading to a more multipolar world where India asserts its priorities and demands equal footing.
Indonesia is set to finalize trade agreements with Canada and the Eurasian Economic Union by the end of 2025. The country also expects to sign a Comprehensive Economic Partnership Agreement with the European Union in September, following high-level political discussions between Indonesia's government and the European Commission. Indonesian Minister Santoso aims to complete several trade agreements this year, hoping they will boost exports and expand global reach. President Boluarte is scheduled to visit Indonesia next week, following a reciprocal visit by President Prabowo Subianto to Peru in November 2024, where cooperation was discussed on economic partnership and drug eradication.
Malaysia's Foreign Minister Mohamad Hasan emphasized the importance of using the term "Sulawesi Sea" to describe the maritime area in dispute with Indonesia, which Malaysia claims as part of its sovereignty. The International Court of Justice's 2002 ruling on the Sipadan and Ligitan Islands has strengthened Malaysia's claim over the area, located near North Kalimantan and Sabah. Despite this, Hasan stressed commitment to bilateral cooperation with Indonesia to address the dispute, citing a shared goal of finding a mutually beneficial resolution. Malaysian Prime Minister Anwar Ibrahim and Indonesian President Prabowo have previously expressed support for joint economic cooperation in the disputed zone, aiming to establish a joint development scheme while awaiting legal resolution.
Indian Prime Minister Narendra Modi stated that the country's imports are driven by market dynamics to ensure energy security for its 1.4 billion citizens, as reported by MS Swaminathan. This comes amid a backdrop of international tensions, including a US Foreign Affairs chairman threatening to hold Secretary of State Antony Blinken in contempt over the Afghanistan withdrawal.