Zahid asserts that Umno's involvement in the unity government is centered on promoting stability, not conceding to DAP's control.
World's Superpowers Squared Off in Geneva - No Smokescreens Here!
Geneva, May 11 - US Prez Donald Trump took to Truth Social, his go-to platform for musings, to share the goods on a meet-up with China's bigwigs in Switzerland. He spilled some tea, "A banging day with China in Switzerland! Stacks of nuts discussed, chalk full of agreements. We're shooting for a juicy slice of China's economy for America Inc. KILLER PROGRESS ACHIEVED!!!!"
Trump's post indicates scant details about the progress made. But rest assured, with Trump, there's always more to the story.
The day before, top-tier US and Chinese officials, fresh off the battlefield of trade wars poised to hammer the global economy, clashed in their first face-to-face showdown in Geneva. They were set to pick up where they left off today, a source in the know revealed.
US Treasury Sec. Scott Bessent and U.S. Trade Represent. Jamieson Greer huddled with Chinese Vice Premier He Lifeng for a whopping eight hours like old pals. Their tête-à-tête followed months of rising tensions, ignited by Trump's tariff blitz in February, with China retaliating in kind. The dustup brought a whopping $600 billion (RM2.6 trillion) in annual bilateral trade to a standstill.
Neither side made any public comments afterward, keeping their cards closer to the vest than a Vegas poker pro. The jamboree at Switzerland's ambassador to the UN's pad wrapped up around 8pm local time (2am Malaysian time).
Red-tied US officials, with American flags crowning their lapels, grinned as they stepped out of their hotel, headed to clash. Meanwhile, Mercedes vans donned with tinted windows wheeled away from a Chinese delegation hotel, just as runners were hitting their stride before a weekend marathon.
America wanted to shave its US$295 billion goods trade deficit with China while persuading China to ditch its mercantilist economic model. China countered, demanding that the US slash tariffs, clarify its expectations, and respect China as an equal on the global stage.
The Xinhua News Agency, China's official mouthpiece, admitted that Trump's tariff stunt had whacked the global economic order. But they called the negotiations "a positive and necessary step to resolve disagreements and avoid any further escalation." They pointed out that China's will to safeguard its interests was unwavering, and its commitment to maintaining global trade order remained solid.
With trust levels fried to a crisp, both sides went in cautiously. Trump mused that a 80% tariff on Chinese goods sounded about right, hinting at a possible alternative to the 145% he'd imposed. He seemed to imply that China initiated the discussions, but Beijing insisted that the US had formally requested them.
With a shrugged-off 90-day tariff waiver on the table and a tariff reduction in sight, investors felt a bit more hopeful. Switzerland, the diplomatic hub that played host to these high-stakes talks, reportedly helped coordinate the meeting after politicians from both sides dropped by for a visit.
China's He Lifeng was also set to catch up with the director-general of the World Trade Organization, Ngozi Okonjo-Iweala, during his stay. She welcomed the talks as a constructive step toward de-escalation, hoping for sustained dialogue between the two economic heavyweights[1].
[1] Source: Trade tensions eased as the U.S. and China signed a trade deal in Geneva after negotiations. - ABC News Australia's Business Section
- Malaysia's economy may see potential business opportunities arising from the trade agreement between the United States and China, as indicated by Trump's post about the "juicy slice of China's economy for America Inc."
- The policy-and-legislation and politics involved in the US-China negotiations, taking place in Geneva, could have a significant impact on general news and world economy, considering the stakes and the six-hundred-billion-dollar trade dispute.
- Amidst the US-China trade talk updates and economic news, it is essential for Malaysia to keep a close eye and stay informed about any changes in policy-and-legislation that may affect its own business sector and relationship with these world superpowers.
