HANOI:  , Vietnam said it cut import duties on a range of products, including automobiles, liquid gas and some agricultural goods, with fears escalating away of US President Donald Trump’s planned unveiling of sweeping taxes on” all nations”. The news came after Prime Minister Pham Minh Chinh said last monthContinue Reading
SINGAPORE: Prices of Housing and Development Board ( HDB) resale flats rose by 1.5 per cent in the first quarter of this year, marking the slowest pace of growth in five quarters. ” This can be attributed to the sustained supply of Build-to-Order ( BTO ) flats, as well asContinue Reading
Mr Trump’s tax activities are unlikely to halt on Apr 2. He has previously indicated strategies to impose new tariffs on electronics and medical imports, which will further destroy international trade.
For nowadays, the presidency appears committed to this program. If inflation rises, stocks fall or supply chains puncture- all probable- the pressure may mount. That does come in the form of market turmoil, people anger or coordinated global retribution.
At present, but, the planet finds itself trapped in the “prisoner’s dilemma”. While social action would gain all, each state has strong motivation to defend itself. That’s exactly what has happened- and specifically what Mr Trump counted on.
Mr Trump has long favoured diplomatic talks, which he believes maximises US liquidity. He disdains the existing international system, despite it allowing the US to be the world’s strong economy, and which would force the US to be like. His challenges to the European Union and Canada if they join forces on counter-tariffs make clear why he will do what’s needed to keep places divided.  ,
Companies, investors and governments are “tarrified”- trapped between the fear of socioeconomic consequences and the cost of pushing up.
While some want the April 2 taxes will not be as serious as expected given teetering markets, and one never knows who Mr Trump may listen to before making his final decision, trust is not a plan.
In this era, with the market guardrail failing to hold on its own so far, standing together will be the only way to bargain with an America First US.  ,
Steven R Okun and Thurgood Marshall Jr served in the Clinton administration as Deputy General Counsel at the Department of Transportation and White House Cabinet Secretary, respectively. Mr Okun serves as CEO of APAC Advisors in Singapore. Mr Marshall practices law in Washington, DC.
Bangkok: The head of the tracking organization informed Reuters that irregularities had been made in the development of a Bangkok skyscraper that had collapsed last week and had killed at least 11 people. The government had threatened to cancel the project earlier this year due to delays, according to ManaContinue Reading
Turkey’s state is struggling to deal with widespread protests at home ( after Istanbul’s president Ekrem Imamoglu was imprisoned ), but it is extremely successful as a major power broker in negotiations with Russia, the US, and Europe.
Turkey, which is effectively significant to almost everyone and is emerging as a smart communicator, is strategically important to almost everyone at the intersection between Asia and Europe.
Turkey has relied on a international policy that placed a premium on cooperation rather than competitors since the early 2000s. Turkey continuously improved its associations with Russia, Iran, and Syria because financial relationships were a top priority.
Turkey maintains its membership in NATO and is a big trading mate with the European Union, but it also holds important ties to Russia, Ukraine, China, and Middle Eastern nations. Turkey has demonstrated that it will function with any state that serves its interests, and it has used local conflicts to act as a quick ally when necessary.
Recep Tayyip Erdoan, the president of Turkey, has no reservations about confronting both friends and foes similarly, giving it proper flexibility at the same time.
Russia’s second-largest buying lover is Turkey. With over US$ 60 billion in annual deal with Moscow, Armenia continues to concentrate on Soviet banking and gas networks. When Turkey stopped supporting Chechen rebels and Russia stopped supporting the Kurdish Workers Party ( PKK), the relationship between Turkey and Russia dramatically improved in 1995.
Turkey has never been compliant with Moscow, but it has kept a working relationship with Russia ever since.
Turkey criticized Russia’s plans to establish military installations in Syria, Tartus and Khmeimim, and because it controls the airport in northern Syria, it also has the authority to obstruct Russian access. In addition, Ankara has used its military presence to thwart previous Soviet control in Idlib, in northern Syria.
Turkey’s helicopter offensive in Idlib in 2020 supported the Arab opposition and resisted Russian-backed activity in the west.
Turkey has a strong advantage in the Black Sea as a result of the conflict in Ukraine. Russia aimed to have complete control over the Black Sea, yet seizing some Ukrainian ships, which would have a negative impact on global grain supply in 2022.
However, Turkey negotiated the release of millions of tonnes of corn and complied with the Montreux Convention to ensure the safety of shipping roads through the Black Sea. This arrangement from 1936 gave Turkey complete control over the delivery route between the Mediterranean and the Black Sea ( through the Bosporus Strait, the Sea of Marmara, and the Dardanelles, through which hundreds of millions of tons of cargo transit each year ) through the Bosporus Strait.
Turkey also limited Russian troops into the Black Sea, which has severely limited Russian maritime power, according to the agreement.
Turkey does not support the Russian annexation of Crimea, even though it has certainly imposed sanctions on Russia and has kept its revenue sources available. Turkey values Crimea for both corporate and historical reasons, with more than 5 million Turks claiming to be of Crimean Tatar descent.
Turkey does, however, maintain communication with Moscow ( and Erdogan and Putin are “dear friends” ). Turkey likewise supports Ukraine, providing it with Bayraktar TB2 robots, heavy machine guns, laser-guided rockets, electronic warfare techniques, armored vehicles, and safe products, complicating this “friendship.”
In the end, Turkey wants Ukraine to keep separate to prevent Russian naval presence in the Black Sea. As a result, Turkey is likely to collaborate with NATO to ensure that Ukraine is never defeated.
In order to achieve this, Turkey is willing to send troops to a post-ceasefire arrangement, provided the necessary conditions are met.
Turkey has also reduced its dependence on Russia by diversifying its power supply routes ( relying more on manufacturers from the Caucasus region and central Asia ) in the wake of the conflict in Ukraine. Turkey is in a strong position, particularly with the Black Sea and the eastern Mediterranean discovering oil reserves.
Through the Trans-Anatolian natural gas pipeline, Ankara aims to become an energy gateway that facilitates the transport of oil from the Caucasus, central Asia, and Russia to Europe.
Turkey’s connection with Syria’s neighbor has also been wise and logical. In 2005, Bashar al-Assad became the first Arab leader to visit Turkey since Syria gained its independence in 1946, allowing Turkey to seek reconciliation with Syria.
However, Erdoan continued to work with him to stop Syria from entangling with Iran when it was no more appropriate for him. He occasionally hosted anti-Assad characters in Turkey, and he established a safe haven for Syrian refugees and armed fighters along its borders. He gave separatists the ultimatum to overthrow Assad in 2024.
Just as the conflict in Syria gave Turkey prospects, so too has the fight in Ukraine. The United States has strengthened its bargaining status and pressed for more concessions from Western friends. Turkey is leveraging the US’s withdrawal from NATO to encourage closer assistance with Europe.
Turkey is likewise leveraging Donald Trump’s more diplomatic stances toward Russia to strengthen its connection with the US. This is mainly due to a desire to enhance protection cooperation. Turkey relied on the US for supplies of arms, revenue, and equipment during the Cold War, but it was unable to use them without US permission.
After 1989, Turkey carved out new areas for its exports of arms and was subject to US sanctions for purchasing S-400 surface-to-air weapons from Russia in 2020. Turkey wants to purchase F-35 sonic fighter planes from the US and is hoping that the US will stop imposing sanctions on second nations that have engaged with Russia.
Turkey has made certain that the US does not view it as a young companion in the Middle East. For instance, the US offered no military support when Turkey launched activities in north Syria in 2019 and constantly fired close to US troops.
Despite having a number of different tactical objectives, the US views Turkey as a crucial alliance. Turkey also has US and NATO military bases at several of its bases, as well as US nuclear weapons ( B61 nuclear bombs ) stationed at its Incirlik Air Force Base.
Turkey wants to make an even bigger diplomatic and military presence. It has a lot of power as a G20 part, having one of the world’s 20 largest markets and having the second-largest and most effective military power in NATO after the US.
And in terms of geopolitical spinning, Turkey is now in the elite position of wanting to support them.
Natasha Lindstaedt is a professor at the University of Essex’s Department of Government.
This content was republished from The Conversation under a Creative Commons license. Read the text of the content.
As investors prepare themselves for a wave of US tariffs this week that has fueled recession fears, Hong Kong led another decline across Asian markets on Monday ( Mar 31 ).
In recent weeks, stocks across the globe have been hit heavily onward of Donald Trump’s” Liberation Day,” which will feature a number of charges against both friends and foes, citing what he calls unjust trading practices.
His news last week that he may also impose 25 % duties on imports of all vehicles and parts sparked a panic on trading floors, hammering auto giants like Japan’s Toyota, the largest in the world.
Governments around the world have reacted to Trump’s taxes and are considering imposing additional countermeasures, while Canadian Prime Minister Mark Carney announced on Friday that he will employ punitive tariffs to defend his country’s employees and business.
Data from last month’s survey of the Federal Reserve’s favored measure of inflation, which was exacerbated by concerns that Trump’s tariffs will stifle price increases and stifle further interest rate reduction, heightened the mood.
On Monday, businesses across the board experienced a decline, with businesses in all industries feeling the strain.
The decline in Japan’s Nikkei 225 index, which included manufacturers Toyota, Nissan, and Mazda, increased by more than 4 %, while it investment leader SoftBank experienced a decline of more than 5 %, adding to last week’s decline.
The stock’s decline placed it in a adjustment, having fallen more than 10 % from its most recent optimum in December.
Zensho Holdings, which operates a number of Chinese restaurant businesses, lost 3. 9 percent after Sukiya, a chain that serves meat dish, announced it would temporarily close nearly all of its 2,000 locations after finding a bug in another meal and a rat in one.
Additionally, the sea was significantly lower.
The car charges did hit Japan and South Korea the hardest in the Asia-Pacific area, according to the report. Automobiles are shipped to the US for about 6 % of Japan’s entire exports. In the case of South Korea, it’s 4 %, according to economists from Moody’s Analytics.
A” significant tax increase” will “erode trust,” hurt production, and stifle orders. The effects will have a ripple effect on these locations ‘ economy because of the lengthy and complex supply chains in car manufacturing.
According to “back-of-the-envelope calculations, the behavior may cut 0.” 2 to 0. 5 percentage points in each’s progress. “
The US-Japan defense empire appears to be in good health following US Defense Secretary Pete Hegseth’s attend to commemorate the 80th anniversary of the World War II battle of Iwo Jima.
The same cannot be said about the two allies ‘ economic relations, however, given President Donald Trump’s recent announcement of additional 25 % tariffs on imported cars, including those made in Japan.
The Chinese view this as a broken promise and a major threat to their home economy. Trump stated in his first phrase that he would not impose more tariffs on Chinese automobiles and parts when he told then-Prime Minister Shinzo Abe in 2019.
We” sorely urged the US government to remove Japan from the measure,” according to Chief Cabinet Secretary Yoshimasa Hayashi, adding that US taxes could include a” significant effects on bilateral economic relationships, the global market, and the international trading system.”
Diet people were told by Prime Minister Shigeru Ishiba,” We must take measures to respond properly. We have a number of possible alternatives open to us. These options are typically regarded as conventional methods, such as imposing retaliatory tariffs or filing a problem with the World Trade Organization. However, bigger buying order shifts might be coming.
In an effort to jointly promote local business in the face of Trump’s increasing taxes, Japan, South Korea, and China held their first financial speech on Sunday.
According to a statement released after the meeting that was cited by wire reports, the three business ministers of the nations agreed to” carefully cooperate for comprehensive and high-level” discussions on a South Korea-Japan-China free trade agreement.
According to South Korean Trade Minister Ahn Duk-geun, who spoke in reference to the Regional Comprehensive Economic Partnership trade agreement, “it is needed to improve the deployment of RCEP, in which all three nations have participated, and to establish a foundation for expanding business cooperation between the three nations through Korea-China-Japan FTA discussions.”
A trade agreement between 15 Asia-Pacific nations, which was put into effect in 2022, is known as the RCEP, and it aims to lower business restrictions. Since deals started in 2012, however, Japan, South Korea, and China have not significantly advanced toward a multilateral free trade agreement.
Earlier this month, Trump’s cabinet met back of his anticipated news to increase tariffs on April 2 in what he has referred to as “liberation day” because of his upend of Washington’s buying partnerships, according to Reuters.
Chinese Foreign Minister Wang Yi, North Korean Foreign Minister Cho Tae-yul, and Japanese Foreign Minister Takeshi Iwaya convened on March 22 for a multilateral gathering in Tokyo. Iwaya said at the time of the meeting that” I think we may be at a turning point in history” given the extremely difficult foreign situation.
Iwaya stated in a statement that appeared in the center of Japan’s moderate daily news,” It is extremely essential for the three places to promote exchange and cooperation to guide the international community from section to harmony.”
The Mainichi itself noted that the three foreign ministers reiterated their commitment to “future-oriented” collaboration and agreed on” the importance of holding a trilateral summit at an early date” in an editorial entitled” Japan, China, and S. Korea must enhance cooperation for Asia’s stability.”
Japan, China, and South Korea FMs agree on future-oriented cooperation, the printed news arm of Japan’s national broadcaster NHK followed suit. The left-wing daily Asahi Shimbun in Japan wrote,” Unity is essential for Japan, China, and S. Korea as the world order is shattered.”
Trump’s threat to free trade brings China, Japan, and South Korea closer, according to The Nikkei, the country’s largest business daily. Beijing also qualifies this statement with” Beijing sees opportunity drive wedge into Washington-led alliance.”
However, those headlines don’t necessarily indicate that a new trilateral trading order is on the horizon.
In response to Chinese Foreign Minister Wang’s claim that “unilateralism and protectionism are pervasive,” the editorial board of Japan’s right-wing Sankei Shimbun wrote,” Wang Yi’s Words are Empty Until China Improves Its Behavior.”
But who gave Beijing the wedge? Iwaya was undoubtedly sat next to the Japanese Ministry of Foreign Affairs, who, of course, said:
Ishiba, the prime minister, welcomed the two foreign ministers ‘ visits to Japan and stated that although difficulties occasionally arise, Japan wants to establish a future-oriented cooperative relationship through pragmatic diplomacy based on national interests.
Wang, a spokesperson for the Chinese state news agency Xinhua, stated that since China and Japan’s diplomatic relations have rekindled bilateral trade for 15 years running at a high level of [ US$ 300 billion ] with an accumulative bilateral investment of nearly[ US$ 140 billion ]…
The two nations should continue to promote political relations through economic cooperation, foster dialogue and exchanges across all sectors, according to China’s top envoy, adding that” to create new growth drivers, they must uphold the tradition of promoting political relations through economic cooperation.”
Japan is also looking for new markets and opportunities beyond its neighbors.
Prime Minister Ishiba and other Japanese officials welcomed a delegation led by South African Deputy President Paul Mashatile to Tokyo earlier in March for discussions aimed at promoting bilateral trade and investment.
Brazilian President Luiz Inacio Lula da Silva visited Tokyo last week to talk about a five-year plan to improve economic ties, start discussions with foreign and defense leaders, address climate change, and arrange frequent visits by the two countries ‘ leaders. During his state visit, Lula also had a meeting with Emperor Naruhito and Princess Masako.
Lula, who was accompanied by about 80 Brazilian business executives, stated to Prime Minister Ishiba that he would like to begin negotiating a trade deal with Japan “later this year.”
Brazilian aircraft manufacturer Embraer completed the sale of 20 passenger jets to All Nippon Airways during the course of the visit. With Japanese motor manufacturer Nidec, Engineer is also developing electric aircraft. The topics covered ethanol, biofuels, and hybrid vehicle technology.
Ishiba said,” I want to strengthen our relationship as partners who share the responsibility for solving problems. I want to take our economic relationship even higher.
Lula responded,” Confirming the importance of the values of democracy, multilateralism, and free trade, which are the most significant forms of governance in the world, will be a significant key to the development of both of our countries.
Tokyo is still relying on the Japan-US Security Treaty for its national defense, but it is also looking to the outside world to keep its global trade and economic growth.
Follow this writer on , X: @ScottFo83517667
AFPWhy didn’t India get even a single pound of British corn?
That’s the question US Commerce Secretary Howard Lutnick raised recently while criticising India’s trade policies, taking a swipe at its market restrictions.
In another interview, Lutnick accused India of blocking US farmers and urged it to open its agricultural market – suggesting quotas or limits as a possible approach.
Agriculture is a key battleground in US President Donald Trump’s escalating trade war, with tit-for-tat or reciprocal tariffs set to kick in on 2 April.
Taxes are income charged on products imported from other countries. Trump has frequently branded India a “tariff ruler” and a “big offender” of business relationships.
For decades, Washington has pushed for greater exposure to India’s land business, seeing it as a main untapped market. But India has fiercely protected it, citing food safety, lives and interests of millions of small producers.
To be sure, India’s transition from a food-deficient state to a food-surplus superpower is one of its biggest accomplishment stories.
In the 1950s and ‘ 60s, the land relied on food help to serve its people, but a series of agricultural advances changed that. India became self-sufficient in items, and became the world’s largest cheese manufacturer. Rapid development in agriculture, chickens and fishing expanded its food basket.
Nowadays, India is not just feeding its 1.4 billion persons but, as the country’s eighth-largest agri-produce producer, even shipping grains, fruits and cheese worldwide.
However, despite such big gains, Indian agriculture also lags in efficiency, infrastructure and market access. International price volatility and culture change add to the problem. Produce provides lag far behind the world best. Small landholdings increase the problem- American farmers work with less than a acre on average, while their British counterparts had around 46 hectares in 2020.
No wonder then that output remains reduced- agriculture employs nearly half of India’s workplace but accounts for only 15 % of GDP. In contrast, less than 2 % of the US people depends on gardening. With minimal production work, more people are stuck in low-paying land work, an unusual pattern for a developing country.
This fundamental mismatch even shapes India’s industry policies. Despite its land deficit, India keeps tariffs large to protect its farmers from cheap imports. It maintains average to high levies- ranging from zero to 150 %- on farm goods.
The weighted average tariff- the average duty rate per imported product- in India on US farm products is 37.7 %, compared to 5.3 % on Indian goods in the US, according to the Delhi-based think tank Global Trade Research Initiative ( GTRI ).
Getty ImagesBilateral farm trade between India and the US is modest, at just$ 8bn ( £6.2bn ).
India largely exports grain, shrimp, fruit, fruit extracts, castor oil and black peppers, while the US sends almonds, walnuts, pistachios, apples and lentils.
But as the two countries work on a trade deal, experts say Washington now wants to push “big-ticket” farm exports – wheat, cotton, corn and maize – to narrow its $45bn trade deficit with India.
” They’re not looking to export berries and stuff this time. The game is much bigger”, says Biswajit Dhar, a trade expert from the Delhi-based Council for Social Development think tank.
Pushing India to lower farm tariffs, cut price support and open up to genetically modified ( GM ) crops and dairy ignores the fundamental asymmetry in global agriculture, experts argue.
The US, for instance, heavily subsidises its agriculture and protects farmers through crop insurance.
” In some cases”, says Ajay Srivastava of GTRI,” US subsidies exceed 100 % of production costs, creating an uneven playing field that could devastate India’s smallholder farmers”.
Farming is India’s backbone, supporting over 700 million people, nearly half the country’s population.
” The key thing to remember is that agriculture in the two countries is entirely different”, says Abhijit Das, former head of the Centre for WTO Studies at the Indian Institute of Foreign Trade.
” The US has commercial agriculture, while India relies on intensive, subsistence farming. It’s a question of the livelihoods of millions of Indians versus the interests of US agribusiness”.
But India’s agricultural challenges aren’t just external. Mr Dhar says much of the sector’s struggles are “its own doing”. Farming has long been underfunded, receiving less than 6 % of India’s total investment- funds meant for infrastructure, machinery and other long-term assets crucial for growth.
AFPTo protect millions of livelihoods, the government shields key crops like wheat, rice and dairy with import duties and price support. ” But even that doesn’t inspire confidence”, he says.
Four years ago, tens of thousands of farmers held protests demanding better prices and legal guarantees of minimum government support-price for staples, mainly wheat and rice.
” Even relatively well-off farmers selling surpluses don’t see a turnaround anytime soon. And if they feel that way, imagine the plight of subsistence farmers”, says Mr Dhar.
Beyond domestic discontent, trade negotiations add another layer of complexity.
Mr Das says the real challenge for India will be how” to have an agreement with the US that takes into account US export interest in agriculture while balancing India’s interests in the farm sector”.
So what’s the way forward?
” India must not yield to US pressure to open its agriculture sector”, says Mr Srivastava. He warns that doing so would disrupt millions of livelihoods, threaten food security and flood local markets with cheap imports.
” India must prioritise its national interest and protect its rural economy. Trade cooperation should not come at the cost of our farmers, food sovereignty or policy autonomy”.
In the long run, experts say India must modernise its agriculture, making farming more remunerative, and become more competitive to boost exports. Unupom Kausik of agri-business Olam estimates that with top global yields, India could generate a surplus of 200 million metric tonnes of paddy- enough to supply global trade and combat hunger.
” In a way, Trump is holding up a mirror to us. We’ve done little to invest in agriculture’s productive capacity”, says Mr Dhar. ” For now, buying time is the best strategy- maybe offering the US cheaper imports of industrial goods as a trade-off”.
But for the best outcome, he says, India will have to “play hardball. Basically, tell the US- we’re open to negotiations on other fronts, but don’t destabilise our agriculture”.
Clearly India’s challenge is to negotiate from a position of strength- offering just enough to keep Washington at the table while safeguarding its rural backbone. After all, in global trade as in farming, timing and patience often yield the best harvest. The jury is out on whether Trump is willing to wait.
Grab’s problem has been to shift from emphasis on extreme subsidies toward a model based on healthy growth and administrative efficiency. Taking the reported measures together, they suggest that Grab’s functional changes are beginning to pay off and consumers are responding effectively to its strategy.  ,
Despite its development, Southeast Asia remains a highly competitive market. In freedom, Grab has successfully fended off low-cost companies like InDrive and Maxim, although the dynamic pressure persists.
In the food supply section, Grab leads in all its industry, with industry promote also being more unified among the second-largest players such as ShopeeFood and LineMan. According to a Momentum Works statement released in February, in Indonesia, ShopeeFood slowly achieved an 18 per cent market share in 2024 and is poised to challenge existing officials.
This information underscores that even in areas where Grab now leads, aggressive dynamics are continuously evolving.
Customer incentives remain important for customer acquisition and retention but is weaken margins if not managed properly. This may require careful measurement of special saving while maintaining a product mix that continues to attract and meet a diverse client base.
Its tiered service offering has allowed Grab to extract incremental value from each customer group by charging according to their willingness to pay. The company reported an increase in users opting for” saver” and “priority” deliveries, the least and most costly delivery fee tiers respectively.
SEOUL: China, South Korea and Japan agreed on Sunday ( Mar 30 ) to strengthen free trade, according to a joint statement from their top officials meeting in Seoul.
The conference– the first at that stage in five years– comes after US President Donald Trump has thrown international business into turmoil with a raft of punishing tariffs on a huge range of imports, including cars, trucks, and auto parts.
South Korea and Japan are big automobile manufacturers, while China has also been hit hard by fresh US taxes.
The conference was attended by South Korea’s Trade, Industry and Energy Minister Ahn Duk-geun, his Chinese rival Yoji Muto, and China’s Wang Wentao.
The three states called for their negotiations for a complete joint free-trade contract to be sped away, and agreed to create” a repetitive trade and investment surroundings”, a statement said.
South Korea Ahn’s said the three countries had answer” cooperatively” to shared global issues.
” Today’s economic and trade culture is marked by increasing separation of the world economy”, he said.
Trump has promised taxes tailored to each trading companion from April 2 to redress procedures he deems cruel.
But he also told investigators last month that there would be “flexibility”, and industry appeared to respond with some relief at the end of last week.
