US-China trade tensions are affecting the toy industry, with 80% of toys sold in the US made in China. The Port of Long Beach's chief operating officer, Noel Hacegaba, hopes a meeting between the two nations will ease tensions and encourage shippers to adjust their sourcing and routing. However, retailers like Basic Fun are already feeling the impact, with seven containers of toys sent back to China due to the 145% levy. Retail expert Gerald Storch notes that retailers have become less panicked about finding domestic sources, citing a change in behavior after the White House meeting.
https://nypost.com/2025/05/08/business/us-weighs-plan-to-slash-china-tariffs-to-as-low-as-50-as-soon-as-next-week-sources/Ukraine is open to a 30-day ceasefire proposed by the US, while Russia has suggested a three-day truce coinciding with World War II's 80th anniversary. US President Trump has stated that if the ceasefire isn't respected, the US will impose further sanctions. Vice-President JD Vance has criticized Russia's initial offer, saying it is not in their strategic interests.
https://globalnews.ca/news/11171365/ukraine-russia-ceasefire-zelenskyy-trump-sanctions/Chinese leader Xi Jinping and Russian President Vladimir Putin pledged to deepen their cooperation, calling themselves "friends of steel" as they sought to counter US influence. They vowed to strengthen military ties and coordination to resist "dual containment" by the US, aiming to establish a new world order not dominated by Washington.
https://www.japantimes.co.jp/news/2025/05/09/world/politics/xi-putin-russia-china-talks/Chinese President Xi Jinping emphasized the importance of common global security and urged all countries to take seriously each other's legitimate concerns. He expressed support for a peaceful resolution to the Ukraine crisis, welcoming efforts that promote dialogue among all parties involved. Russian President Putin commended China's impartial stance on the crisis, stating Russia's willingness to engage in peace talks without preconditions.
https://www.globaltimes.cn/page/202505/1333645.shtmlUkrainian President Volodymyr Zelensky sought to dispel perceptions that he is an obstacle to peace after being berated by former US President Donald Trump and Vice President JD Vance at a White House meeting. The issue arose from the cancellation of a minerals deal with the US, which Ukraine's parliament has since ratified, despite not including security guarantees.
https://www.victoriaadvocate.com/news/nation/trump-presses-russia-for-unconditional-30-day-ukraine-ceasefire/article_4f11b064-3035-5eae-bd3e-9c274305a7e6.htmlIn an exclusive interview with RFE/RL correspondent Todd Prince, Ukrainian President Volodymyr Zelenskyy discussed potential implications for NATO under a second Trump term, suggesting that the US president's foreign policy doctrine could lead to increased tensions in Europe. Zelenskyy emphasized the need for European governments to work together to support Ukraine and end the war, citing Germany's role as a key player in this effort.
https://www.rferl.org/a/fiona-hill-foreign-policy-trump-ukraine/33400410.htmlUkraine and the US have signed an agreement to establish a Reconstruction Investment Fund, with First Deputy Prime Minister Yuliia Svyrydenko and US Treasury Secretary Scott Bessent signing the document. The move is seen as part of efforts to gain leverage over Russia in peace talks, following a minerals agreement reportedly signed by President Donald Trump last week.
https://www.ukrinform.net/rubric-polytics/3990575-us-treasury-chief-tells-congress-he-sees-putin-as-war-criminal.htmlIndonesia's Finance Minister Sri Mulyani has highlighted Japan's experience in dealing with the US trade war in the 1980s as a valuable reference for shaping future steps. She noted that Indonesia received a positive response from the US government, having been one of the first countries to proactively negotiate tariffs. As part of negotiations, Indonesia has prepared a comprehensive policy package addressing tariff and non-tariff barriers, including tracking the US trade deficit. Sri Mulyani emphasized Indonesia's neutral position in tensions between the US and China over reciprocal tariffs, citing its stable economic performance as a bargaining power that must be maintained. The Indonesian government and the Office of the US Trade Representatives have signed a non-disclosure agreement, marking the start of technical discussions set to take place in two weeks.
https://en.antaranews.com/news/354117/indonesia-japan-discuss-us-tariff-policy-challenges?utm_source=antaranews&utm_medium=desktop&utm_campaign=popular_rightDr Shamshad Akhtar, former Finance Minister, emphasized China's model for scalable global growth, urging alignment of the Belt and Road Initiative with national strategies. She praised China's poverty alleviation efforts, advancements in solar and AI technologies, and peaceful foreign policy. Dr Akhtar noted that BRI is the world's largest international development platform with over $1 trillion invested across 149 countries. Former Senator Mushahid Hussain Syed highlighted China's support for Pakistan during crises, while Prof Gao Jian argued that China's vision of a Community of Shared Future offers an alternative to Western modernization models rooted in harmony and inclusiveness.
https://www.thenews.com.pk/print/1309375-bri-alignment-with-national-strategies-crucial-for-inclusive-growth