Japanese Prime Minister Shigeru Ishiba hosted US Treasury Secretary Scott Bessent on Friday ahead of a Washington deadline to reach a trade deal or face new tariffs.

US President Donald Trump has said to impose a 25-percent tariff on all Japanese imports from August 1st, in addition to tough levies already imposed on vehicles, steel and aluminium. Ishiba said regarding the US tariffs, he told Scott Bessent to continue communicating with minister Akazawa so that they could reach an agreement beneficial for both countries.

mitv

Thai Deputy Prime Minister and Finance Minister Pichai Chunhavajira is optimistic about a U.S. customs duty rate near 20% for Thai products, aiming for parity with regional competitors.

This follows “Team Thailand’s” recent “win-win” video conference negotiations with the U.S. Trade Representative. Pichai said the detailed discussions were positive, and he anticipates results before the August 1 deadline.

While acknowledging not all initial goals may be met, he hopes for a balanced outcome benefiting Thai industries. Pichai also emphasized the need for Thailand to boost production efficiency to compete in open markets, stressing that increased imports should align with greater domestic manufacturing and exports. He added that the government must protect and support agricultural and SME sectors.

mitv

The French and German Finance Ministers on Wednesday urged the United States to hold "serious and targeted" talks to reach a fair agreement in the US-EU tariff dispute. Germany's Lars Klingbeil stated that "new threats or provocations every day" from the U.S. are unhelpful. During a joint press conference with French counterpart Eric Lombard, Lars Klingbeil stated that they continue to reach out, but will not accept just anything.

mitv

Nvidia CEO Jensen Huang attended an event with Alibaba's Cloud founder Wang Jian in Beijing on the sidelines of the China International Supply Chain Expo.

He told reporters at that expo that top officials, including Vice Premier He Lifeng, had assured him this week that China was "open and stable". Huang also noted he assured them that his firm was keen to serve the massive Chinese market for microchips needed in everything from mobile phones to electric vehicles.

mitv

US President Donald Trump said Tuesday that he had struck a trade pact with Indonesia resulting in significant purchase commitments from the Southeast Asian country, following negotiations to avoid steeper tariffs.

Donald Trump, US President said "So we made a deal with Indonesia. I spoke to their really great president. Very popular, very strong, smart. And we made the deal. We have full access to Indonesia. Everything. As you know, Indonesia is very strong on copper. But we have full access to everything. We will pay no tariffs. So they are giving us access into Indonesia, which we never had. That's probably the biggest part of the deal. And the other part is they are going to pay 19 percent. And we are going to pay nothing."

As part of the Agreement, Indonesia has committed to purchasing $15 Billion Dollars in US Energy, $4.5 Billion Dollars in American Agricultural Products, and 50 Boeing Jets" Trump wrote on his Social platform. 

mitv

During a joint press conference with the European Commission President in Brussels on Sunday, President Prabowo confirmed that Indonesia and the EU have reached a consensus on all aspects necessary to finalize the free trade agreement.

President Prabowo stated that Europe excels in science, technology, and finance, while Indonesia possesses key resources vital to industry. The EU partnership can bring positive impacts to the Southeast Asian region. Negotiations on the Indonesia–EU Comprehensive Economic Partnership Agreement began in 2016, the political agreement marks a significant step toward the completion of free trade agreement, targeted for September 2025.

mitv

Thailand has until August 1 to submit its revised trade proposal to the US for reconsideration, in an effort to avoid the 36% tariff, which the US administration intends to impose on imported Thai goods.

A negotiating team, led by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, held a meeting with representatives of the industrial sector, to discuss the impacts of a high US tariffs and remedial measures needed to address them.

A second meeting with the private sector is scheduled for Monday, to fine-tune the revised proposal before it is resubmitted to the US, said the finance minister, adding that his team is ready to return to Washington DC if necessary. He also said that the tariff will not be much higher than that imposed on other countries in the region, which, if it were, would make Thai products uncompetitive in the US market.

Pichai said he believes a broad resolution could be worked out with the US before the deadline, adding that more talks are expected later on.

mitv

Australian Prime Minister Anthony Albanese arrived in Shanghai Saturday to kick off his second visit to China as seeking to bolster recently stabilized trade ties. 

Anthony Albanese, Australian Prime Minister said "It's wonderful to be back here in Shanghai for my second visit to China as the prime minister of Australia. There are important meetings to be held this week and the fact that I am leading a very large business delegation speaks of the importance of the economic relationship between Australia and China. We know that one in four of Australia's jobs depends on exports and China is a major trading partner, with exports to China being worth more in value than the next four countries combined."

China hopes that through this visit, the two sides will strengthen communication, enhance mutual trust and expand practical cooperation.

mitv

The People’s Bank of China (PBOC), China’s central bank, said Friday that it signed a memorandum of understanding with the Central Bank of Egypt on Thursday, under which the two sides will strengthen bilateral financial cooperation, promote settlement in local currencies, and collaborate in the areas of central bank digital currencies and digital innovation.

Pan Gongsheng, governor of the PBOC, noted that financial and economic ties between China and Egypt are gathering pace, with bilateral trade rising steadily. Pan added that in the face of external uncertainties, the two central banks should continue to deepen practical collaboration in areas such as local-currency swaps and settlements, connectivity of payment and settlement systems, investment and financing in financial markets, and the establishment of financial institutions in each other’s countries.

mitv

US President Donald Trump targeted Mexico and the European Union with steep 30 percent tariffs, dramatically raising the stakes in already tense negotiations with two of the largest US trading partners. Both sets of duties will take effect August 1, Trump says in formal letters posted to his Truth Social platform. The president cites Mexico's role in illicit drugs flowing into the United States and a trade imbalance with the EU as meriting the tariff threat.

mitv