Trump Says Deal with Xi ‘Extremely Hard’ as Steel Tariffs Double

US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. (Reuters)
US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. (Reuters)
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Trump Says Deal with Xi ‘Extremely Hard’ as Steel Tariffs Double

US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. (Reuters)
US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. (Reuters)

Donald Trump said Wednesday it was "extremely hard" to reach a deal with China, but EU and US officials touted progress in their own trade talks despite the US president doubling his metal tariffs. 

Trump's latest salvos came as ministers from Organization for Economic Cooperation and Development (OECD) countries gathered in Paris to discuss the outlook for the world economy in light of the trade war. 

Trump's sweeping tariffs on allies and adversaries have strained ties with trading partners and sparked a flurry of negotiations to avoid the duties. 

The White House has suggested that Trump will speak to Chinese President Xi Jinping this week, raising hopes they can soothe tensions and speed up a trade deal between the world's two biggest economies. 

However, early on Wednesday, Trump appeared to dampen hopes for a quick deal.  

"I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!" he posted on his Truth Social platform.  

Asked about the remarks during a regular press briefing, Chinese foreign ministry spokesman Lin Jian said Beijing's "principles and stance on developing Sino-US relations are consistent."  

China was the main target of Trump's April tariff blitz, hit with levies of 145 percent on its goods and triggering tit-for-tat tariffs of 125 percent on US imports.  

Both sides agreed to temporarily de-escalate in May, after Trump delayed most sweeping measures on other countries until July 9.  

- US-EU talks 'advancing quickly' -  

Trump's latest remarks came hours after he increased his tariffs on aluminium and steel from 25 percent to 50 percent, raising temperatures with various partners while exempting Britain from the higher levy.  

In addition, EU goods will be hit with 50-percent tariffs on July 9 unless the 27-nation bloc reaches a deal with Washington. The EU has vowed to retaliate.  

US Trade Representative Jamieson Greer said after talks with EU counterpart Maros Sefcovic in Paris that the negotiations were "advancing quickly."  

Greer said the meeting was "very constructive and indicates a willingness by the EU to work with us to find a concrete way forward to achieve reciprocal trade."  

Sefcovic said the doubling of metal tariffs "doesn't help the negotiations" but the two sides were nonetheless "making progress" in their negotiations.  

"We did very much focus on these negotiations, and I still believe in them," Sefcovic said at a news conference after meeting Greer on the sidelines of the OECD gathering in Paris.  

He said he was optimistic that a "positive result" could be reached.  

The US-EU meeting took place a day after the OECD cut its forecast for global economic growth, blaming Trump's tariff blitz for the downgrade. 

"We have to keep our cool and always show that the introduction of these tariffs is in no one's interest," French trade minister Laurent Saint-Martin said.  

After talks between UK Trade Secretary Jonathan Reynolds and Greer on Tuesday, London said that imports from the UK would remain at 25 percent for now. Both sides needed to work out duties and quotas in line with the terms of a recently signed trade pact.  

"We're pleased that as a result of our agreement with the US, UK steel will not be subject to these additional tariffs," a British government spokesperson said.  

- White House wants offers -  

Mexico will request an exemption from the higher tariff, Economy Minister Marcelo Ebrard said, arguing that it was unfair because the United States exports more steel to its southern neighbor than it imports.  

"It makes no sense to put a tariff on a product in which you have a surplus," Ebrard said.  

Mexico is highly vulnerable to Trump's trade wars because 80 percent of its exports go to the United States, its main partner.  

While some of Trump's most sweeping levies face legal challenges, they have been allowed to remain in place for now as an appeals process takes place.  

White House press secretary Karoline Leavitt confirmed on Tuesday that the Trump administration sent letters to governments pushing for offers by Wednesday as the July 9 deadline approaches. 



Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
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Third ‘Mirkaz AlBalad AlAmeen Platform’ to Open in Makkah on Sunday 

A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)
A street in the holy city of Makkah is decorated with Ramadan lights. (SPA)

The third edition of the “Mirkaz ABalad AlAmeen”, a leading platform for exchanging opportunities in Makkah, will kick off on Sunday, under the theme “Makkah Inspires the World.”

The platform, organized by the Holy Makkah Municipality, will feature 15 exceptional Ramadan evenings focused on dialogue, knowledge exchange, and cross-sector engagement.

Makkah Mayor Musad Aldaood said the platform redefines development from Makkah, where faith meets inspiration and values are transformed into a comprehensive civilizational experience.

He noted that the initiative reflects the ambitions of Saudi Vision 2030 and showcases Makkah to the world as a living model of creativity, leadership, and innovation.

The upcoming edition will host more than 65 speakers, including executive leaders and decision-makers from across all three sectors, alongside futurists, entrepreneurs, and leading voices in culture and inspiration from artists, writers, media professionals, and innovators.

The program targets 12 key sectors: technology and digital transformation, financial investment, communications and media, real estate development, transport and logistics, banking services, youth and sports, tourism and culture, hospitality and catering, Hajj and Umrah, the third sector, and healthcare.


Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
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Saudi Arabia’s Mawani Grants Unified License to Global Shipping Line 

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)
The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector. (Mawani)

The Saudi Ports Authority (Mawani) granted on Thursday a unified license to international shipping line Global Shipping Line (PIL), officially recognizing it as an authorized foreign investor to operate maritime agencies in the Kingdom's ports, reported the Saudi Press Agency.

The license is issued in accordance with the regulations outlined in the Maritime Agency Services, reflecting Mawani's commitment to boosting the efficiency of the maritime sector and improving the quality of operational services provided at ports.

It aims to attract global expertise and facilitate knowledge transfer within the Kingdom, aligning with international best practices in the maritime transport industry.

The initiative is part of Mawani's ongoing efforts to develop the maritime business environment, enable international companies to invest in the Saudi market, and increase competitiveness within the maritime sector.

PIL, which operates from its regional headquarters in Riyadh, manages operations in 29 countries.

The move strengthens the Kingdom's position as a crucial logistics hub, in line with the National Transport and Logistics Strategy, while attracting more international shipping lines. It reinforces Saudi Arabia's role as a key link among three continents.


IMF: Restoring Lebanon's Economic Growth Will Require Comprehensive Reforms

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
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IMF: Restoring Lebanon's Economic Growth Will Require Comprehensive Reforms

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo

Lebanon's economy has shown resilience despite conflicts in the region, with tourism fueling a bit of a rebound, but restoring growth will require comprehensive reforms, the International Monetary Fund said on Thursday.

IMF spokeswoman Julie Kozack said the global lender remains engaged in complex discussions with Lebanese ‌authorities following their ‌request for an IMF-supported ‌program ⁠in March 2025. The ⁠IMF sent a staff mission to Beirut earlier this month, said Reuters.

The talks have been focused on two big issues, she said, citing the need for banking sector restructuring and a medium-term fiscal ⁠strategy. "The economy has shown resilience ‌despite the impact ‌of conflicts in the region. It has had ‌a bit of a rebound ‌on the back of tourism from the strong diaspora," Kozack said.

"But at the same time, really restoring strong and sustainable growth will ‌require a comprehensive set of reforms to tackle some of the ⁠structural ⁠weaknesses that have really hampered Lebanon's economic performance for many years," she said. Reforms also are needed to attract international support to help Lebanon address its substantial reconstruction needs.

Kozack said Lebanon needs an updated medium-term fiscal framework that includes concrete measures to mobilize additional revenues for much-needed capital spending, as well as a sovereign debt restructuring to restore debt sustainability.