Japan is considering revising its response to a US proposal for swift negotiations on tariffs, following South Korea's plan to intensify talks and potentially extend a grace period on implementing reciprocal tariffs. The US has proposed an August 1 deadline, while South Africa's President Cyril Ramaphosa has criticized the 30% tariff rate as unjustified given that most US goods enter South Africa with no tariffs.
https://www.tbsnews.net/worldbiz/usa/japan-south-korea-face-25-tariffs-trump-ramps-trade-war-letters-leaders-1183226Japan's chief tariff negotiator Ryosei Akazawa stated that he feels no relief after US President Donald Trump announced a 25% tariff on Japanese goods starting August 1. Akazawa spoke with US Commerce Secretary Howard Lutnick over the phone, indicating that negotiations will be challenging due to Trump's tough leadership style. Japan is seeking an agreement acceptable to both countries, but did not repeat its previous demand for the US to eliminate all existing tariffs as a precondition.
https://www.japantimes.co.jp/business/2025/07/08/economy/japan-stands-ground-us-tariff/Japan plans to intensify negotiations with the US over a comprehensive trade agreement, aiming for a package deal that could alleviate tensions between the two nations. Taro Kono, Japan's Trade Minister, is set to meet with his US counterpart, Katherine Tai, to discuss key issues such as tariffs and agricultural products. The talks are expected to focus on finding mutually beneficial solutions to resolve outstanding disputes and pave the way for a more substantial trade pact.
https://mainichi.jp/english/articles/20250708/p2g/00m/0na/042000cLeaders from Brazil, Russia, India, China, South Africa, Indonesia, Iran, Egypt, Ethiopia, the United Arab Emirates, Saudi Arabia, Belarus, Cuba, and Vietnam gathered to discuss global health, climate challenges, and COP30 in Brazil. Brazilian President Luiz Inácio Lula da Silva warned that denial and unilateralism are hindering progress on these issues, citing accelerated global warming and its impact on tropical forests. He emphasized the need for emerging economies to access and develop technologies to participate in value chains, highlighting health inequalities that disproportionately affect low-income countries.
https://africanews.com/2025/07/08/brics-summit-ends-on-health-issues-and-role-of-global-south-countries/Deputy Chairman of the Russian Security Council Dmitry Medvedev has expressed concerns about the growing influence of BRICS (Brazil, Russia, India, China, and South Africa) in light of US President Donald Trump's threat to impose a 10% tariff on countries that support the association.
https://www.fakti.bg/en/world/984332-dmitry-medvedev-after-trump-s-threats-we-are-on-the-right-trackPakistan's Ambassador Iftikhar emphasized the need for concrete actions against terrorist groups operating on Afghan soil, citing Afghanistan as a serious threat to regional peace and security. The ambassador highlighted that groups like Daesh, Al-Qaeda, TTP, and Baloch militant groups pose a significant risk, with TTP being the largest UN-designated terrorist group in Afghanistan, boasting around 6,000 fighters.
https://www.thenews.com.pk/latest/1327095-afghanistan-must-not-become-breeding-ground-for-terrorists-pakistan-tells-unSouth Korean Ambassador Park hopes for continued cooperation with Japan under President Lee Jae-myung, who took office last month. He advocates for more frequent "shuttle diplomacy" between leaders to strengthen ties. Chief Cabinet Secretary Yoshimasa Hayashi emphasized the importance of Japan and South Korea working together as partners in addressing global challenges.
https://www.japantimes.co.jp/news/2025/07/08/japan/politics/ishiba-south-korea-gratitude/Russian President Putin urged BRICS member countries to expand the use of national currencies in bilateral transactions to strengthen economic sovereignty. The combined GDP of BRICS has reached $77 trillion, with China contributing over 60% of the group's total economic power. Putin participated in the BRICS summit via video link due to an arrest warrant from the International Criminal Court regarding allegations of war crimes in Ukraine. The Russian delegation was led by Foreign Minister Sergey Lavrov, and the forum marked the first after BRICS expanded its membership to include Egypt, Ethiopia, Iran, the UAE, and Indonesia.
https://en.tempo.co/read/2025863/putin-says-liberal-globalization-model-is-obsoleteThe UAE and the Eurasian Economic Union (EEU) have agreed to reduce customs duties on over 85% of goods, lowering protection rates for Union products in Emirati markets from 5% to 0.6% and vice versa. The agreement benefits the EEU with wider access to the UAE market in strategic categories such as polymers and consumer products, while the UAE gains access to the EEU's large market of over 180 million people. The Comprehensive Economic Partnership Agreement (CEPA) aims to strengthen economic ties, remove trade barriers, and stimulate investment in key sectors like agriculture and industry.
https://www.gulftoday.ae/business/2025/07/08/uae-among-top-ten-global-trading-partners-for-eurasian-economic-union