Trump on Trade Talks with Beijing: Ball in China's Court

White House Press Secretary Karoline Leavitt takes a question during a daily press briefing. (AFP)
White House Press Secretary Karoline Leavitt takes a question during a daily press briefing. (AFP)
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Trump on Trade Talks with Beijing: Ball in China's Court

White House Press Secretary Karoline Leavitt takes a question during a daily press briefing. (AFP)
White House Press Secretary Karoline Leavitt takes a question during a daily press briefing. (AFP)

US President Donald Trump believes it is up to China, not the United States, to come to the negotiating table on trade, the White House said Tuesday.

“The ball is in China's court. China needs to make a deal with us. We don't have to make a deal with them,” said a statement from Trump read out by Press Secretary Karoline Leavitt at a briefing.

“There's no difference between China and any other country except they are much larger,” she added.

While Leavitt maintained that Trump was open to a deal with Beijing, she stressed that it was China that needed to step forward first -- pointing to the strength of the US consumer market as leverage.

Trade tensions between Washington and Beijing have been flaring, and the situation has worsened since Trump took office in January.

Trump initially imposed tariffs on imports from China over its alleged role in the fentanyl supply chain -- and recently stepped up those levels sharply over trade practices that Washington deems unfair.

This year alone, Trump has imposed an additional 145% tariff on many goods from China, stacking atop duties from previous administrations.

This involved 20% over fentanyl and other illicit drugs, as well as 125% over trade practices.

Trump's administration has, however, allowed certain tech products like smartphones and laptops temporary reprieve from the latest levy.

Meanwhile, Leavitt said the Trump administration has been presented with offers from at least 15 nations for bespoke trade deals following the President’s announcement last week of a 90-day pause on reciprocal tariffs.

“We’ve had more than 15 deals, pieces of paper, put on the table — proposals that are actively being considered,” Leavitt said during her regular briefing.

She then clarified that no agreements had been finalized yet, but predicted deals should be happening “soon.”



Egypt Imposes Business Curfew to Counter Soaring Fuel Costs

Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz (File Photo)
Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz (File Photo)
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Egypt Imposes Business Curfew to Counter Soaring Fuel Costs

Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz (File Photo)
Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz (File Photo)

Egypt has ordered shops, restaurants and shopping malls to close from 9:00 pm from Saturday, hoping to curb energy bills that have more than doubled because of the Iran war.

Prime Minister Mostafa Madbouly announced the curfew and said it would last for a month initially.

"Shops, shopping centers, restaurants and cafes will all close at 9:00 pm on weekdays," he said, adding that on Thursdays and Fridays at the weekend they will be allowed to stay open until 10:00 pm, Reuters reported.

The premier said that before the war, Egypt's monthly energy bill was $560 million. Today, for the same quantity, he said Egypt is paying $1.650 billion.

Madbouly said Cairo must work on the "worst-case scenario" in the face of a war whose outcome is unpredictable.

Tourism Minister Sherif Fathy said the new restrictions "will not affect tourists" or flagship destinations, a statement from his office said.

At the beginning of March, Cairo was forced to raise fuel prices by more than 30 percent, after strikes on regional oil infrastructure and threats against the Strait of Hormuz, the crucial shipping route now virtually paralysed by the war.

Around a fifth of global crude oil and liquefied natural gas passes through the waterway in peacetime.

The rerouting of shipping away from the Suez Canal is also depriving Cairo of a vital source of foreign currency.


Turkish Central Bank Forex Sales since Start of Iran War Close to $45 Billion

Turkish Central Bank (official website)
Turkish Central Bank (official website)
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Turkish Central Bank Forex Sales since Start of Iran War Close to $45 Billion

Turkish Central Bank (official website)
Turkish Central Bank (official website)

The Turkish Central Bank's balance sheet for this week will show foreign exchange sales amounting to near $20 billion, bringing the total forex sales since the beginning of the Iran war to nearly $45 billion, bankers said, Reuters reported.

According to calculations made by four bankers, based on preliminary data for the first part of the week and their estimates for the rest of the week, the central bank's balance sheet will show $18-21 billion in foreign exchange sales.

Bankers said that although $8 billion of the total $20 billion was made before a public holiday last week, this figure will be reflected in the balance sheet on the first day of this week.

The central bank sold $26 billion in foreign exchange in the first three weeks of the war, using its gold reserves as well, resulting in a $35 billion decrease in its net reserves.


Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port

Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port
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Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port

Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port

The Saudi Ports Authority (Mawani) has announced the addition of the RSX service by Marsa Ocean Shipping to Jeddah Islamic Port, featuring a capacity of up to 372 TEUs and connecting Jeddah with the regional ports of Aden, Hodeidah, and Djibouti, SPA reported.

This expansion aligns with the National Transport and Logistics Strategy, aiming to enhance the Kingdom’s operational efficiency and its ranking in global performance indicators.

As a primary gateway, Jeddah Islamic Port utilizes its 62 multipurpose berths and specialized terminals to support a total capacity of 130 million tons, reinforcing Saudi Arabia’s position as a global logistics hub connecting three continents.