Latest news for 30 April 2025

US

Trump eases tariff pressure on carmakers.

On Tuesday, the US president signed an executive order that exempts car makers from additional import duties and sets up a reimbursement scheme to soften the blow from 25% tariffs on imported cars and car parts. The relief came after local car manufacturers warned they would need more time to shift their supply chain to the US. (Reuters)

Comment: The changes coincided with Trump’s visit to Michigan, home of the Detroit Three carmakers - Ford, GM, and Stellantis.

CHINA

China’s manufacturing activity shrinks.

China’s manufacturing activity fell in April, as the trade war with the US began to hit China’s economy. The Purchasing Managers’ Index (PMI), which is used to track output, fell to 49, the lowest score since late 2023. (The Guardian)

Comment: Several international financial institutions, including the IMF, have recently lowered their growth forecast for China below Beijing’s official 5% target.

BRAZIL

BRICS ministers fail to agree on joint communique.

A two-day foreign ministers’ meeting for the BRICS bloc ended without a joint communique due to disagreements over plans to reform the UN Security Council. Newcomers Egypt and Ethiopia opposed a previously approved plan to back South Africa for a permanent seat at the SC. (SCMP$)

NORTH KOREA

Pyongyang tests weapons from new warship.

Just days after Pyongyang unveiled its newest naval warship in state media, Kim Jong Un oversaw weapons testing on the destroyer alongside his daughter, and likely successor, Kim Ju Ae. The naval unveiling comes amid reports that Washington is considering restarting talks with North Korea, despite the country’s continued development of nuclear weapons. (Straits Times)

SOMALIA

Taipei caught in the crosshairs of East African politics.

Somalia has banned Taiwanese passport holders from entering the country in a move Mogadishu says is in line with a 1971 UN resolution recognising the ‘One China’ principle. (Reuters)

Comment: In reality, Somalia is unhappy that Taiwan is boosting ties with Somaliland, a breakaway region that Somalia claims as its own. The Chinese Embassy in Mogadishu was no doubt closely involved here.

MALTA

Valletta’s citizenship scheme rejected by EU court.

The Court of Justice of the EU struck down Malta’s “golden passport,” which allowed people to buy Maltese citizenship. The passport scheme has been widely criticized as an avenue for bad actors to evade sanctions and enter the bloc. (Politico.eu)

CANADA

Seabed mining interest grows in the private sector.

The Metals Company, a Canadian mining company, applied to the US government to mine the seabed for cobalt and nickel yesterday. The application follows President Trump’s executive order last week calling for the acceleration of seabed mining. It’s the first time a private company has applied for commercial seabed mining exploration licenses. (AP)