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Trump's ASEAN visit yields critical minerals pacts
United States President Donald Trump signed trade and critical minerals agreements with Malaysia, Cambodia, Thailand and Vietnam at the 2025 ASEAN Summit in Kuala Lumpur, targeting supply chain diversification as China tightens rare earths export controls. The deals follow parallel negotiations with Chinese officials that produced a framework agreement to pause Trump's threatened 100% tariffs and delay Beijing's rare earth licensing regime by one year.ASEAN deal structureThe U.S. signed reciprocal trade deals with Malaysia and Cambodia, plus framework trade pacts with Thailand and Vietnam. Key terms:19% baseline tariff rate on Malaysian, Cambodian and Thai exports20% tariff rate on Vietnamese exportsZero tariffs on select goods categoriesVietnam commits to increasing U.S. product purchases to reduce US$123 billion trade surplusMalaysia agrees not to impose bans or quotas on critical minerals exports to the U.S.Separate critical minerals cooperation agreements were signed with Thailand and Malaysia to secure supply chains for semiconductors, electric vehicles and defence equipment. The Malaysia commitment comes as Chinese firms negotiate with Kuala Lumpur on rare earths processing facilities, with sovereign wealth fund Kha
Asia
Nepal's Prime Minister KP Sharma Oli forced to step down
Nepal’s Prime Minister, KP Sharma Oli, has resigned following the country’s worst unrest in decades due to public anger over the deaths of 19 anti-corruption protestors in a clash with police earlier this week. Following the deaths and more than 100 injuries, tens of thousands of protestors remained on the ground, blocking roads and setting fires to parliament and other government buildings. “In view of the adverse situation in the country, I have resigned effective today to facilitate the solution to the problem and to help resolve it politically in accordance with the constitution,” Oli wrote in his letter to President Ramchandra Paudel on Tuesday after his administration was blamed for the bloodiest outbreaks of unrest in a decade. The protests mainly consisted of young people over widespread allegations of corruption and a social media ban, which has since been withdrawn. The social media ban, which triggered the demonstrations, would have seen 26 social media sites banned, including WhatsApp, Instagram and Facebook, for failing to meet a deadline to register with Nepal’s Ministry of Communication and Information Technology. During the protests, Nepal's Minister for Communication Prithvi Subba told the BBC that
Asia
Pakistan dangles its rare earths to avoid Trump tariffs
Pakistan is courting the United States with a bold pitch that includes rare earths, bitcoin mining potential and political flattery, in a bid to avoid looming tariffs of up to 29% and secure deeper ties with Washington. Negotiators arrived in Washington this week for talks with U.S. Trade Representative Jamieson Greer, with officials saying any agreement could include commitments to purchase cotton and soybeans, along with a "strategic and investment" partnership in the mining sector. The trade war between the U.S. and China has put rare earths to the top of the Trump administration. That's because China has imposed export restrictions on seven rare earth elements as part of escalating economic warfare with Washington, squeezing supply to the West of minerals used in weapons, electronics and consumer goods. Pakistan's pitch is to become America's alternative rare earth supplier, dangling its estimated US$8-50 trillion mineral wealth before the Trump administration. The nation's mineral portfolio reads like a critical materials shopping list: copper, gold, lithium, antimony, chromite, and rare earth elements concentrated in Balochistan province - home to Barrick Mining's Reko Diq copper-gold project. "Pakistan has
Asia
Protesters demand the Thai PM’s resignation
UPDATED: It is being reported that the Constitutional Court of Thailand has suspended Prime Minister Paetongtarn Shinawatra pending a case for her dismissal. Thailand’s political volatility surged over the weekend as tens of thousands of protesters gathered in Bangkok demanding Prime Minister Paetongtarn Shinawatra's resignation. The unrest, triggered by a leaked phone call with former Cambodian leader Hun Sen, fractured the ruling coalition. It has sparked investigations by the Constitutional Court and the National Anti-Corruption Commission. Protesters, many aligned with royalist and nationalist factions, accused Paetongtarn (pictured above) of undermining Thai sovereignty during a border dispute that left one Cambodian soldier dead. The fallout has prompted the Bhumjaithai Party — once the coalition’s second-largest partner — to withdraw support, leaving the government with a razor-thin majority. For luxury investors, the political crisis presents renewed risk for Thailand’s high-end real estate and tourism sectors. The Thai Hotels Association and CBRE have warned that prolonged instability could delay stimulus packages, dampen consumer confidence, and stall foreign direct investment in luxury developments.
Asia
Thailand's Prime Minister blocks Cambodian border
Increasing border restrictions are being enforced for travellers crossing Thailand to Cambodia, blocking tourists from crossing by land. The restrictions were announced by Thailand's prime minister as tensions continue to escalate between the countries amid a border dispute. This is following an armed confrontation on 28 May where a Cambodian soldier was killed. Despite the two countries agreeing to de-escalate the dispute they continue to implement or threaten measures that keep tensions high. On Monday, Thailand’s Prime Minister Paetongtarn Shinawatra said the country would boost screening at land borders and block departing tourists. Only students, medical patients and others who need to purchase essential goods can enter or leave Thailand. She said the measures were aimed at those heading to Cambodia’s lucrative casinos but all tourists appear blocked. The Thai army said it had implemented the measures at every land border checkpoint between Thailand and Cambodia in five provinces. It would stop anyone crossing for non-essential purposes. Cambodia has also blocked internet services, electricity and fuel supplies from Thailand in retaliation for the border dispute. This could cause economic unrest in both coun

Asia
South Korea elects Lee Jae-myung as president
Centre-left opposition candidate Lee Jae-myung has been elected South Korea’s next president in the snap election called after its December martial law crisis. Lee, a former Democratic Party leader and a leading voice against impeached president Yoon Suk Yeol, won 49.42% of yesterday’s vote, while conservative rival and Yoon ally Kim Moon-soo won 41.15%. Lee was sworn in as president at 6:21 am local time (7:21 am AEST) today, as snap elections do not offer candidates a transition period. “Let us build a true democratic republic where all the power of the state is devoted entirely to the people. Let us move beyond small differences, recognise and respect one another, and together move toward a Korea where the people are the owners, where the people are happy — a true Republic of Korea,” Lee said in his inauguration speech. In his victory speech yesterday, Lee said he would prioritise “recovering democracy”, boosting the economy, public safety, and peaceful dialogue with North Korea. Lee is set to begin announcing cabinet appointments in the coming hours, after a brief inauguration ceremony was held at 11 am local time (12 pm AEST). He has reportedly chosen Kim Min-seok, a top campaign advisor and National Assembly memb
Asia
Philippines: Duterte wins mayoral election from prison
Former Philippine President Rodrigo Duterte has won the mayoral election in his home city despite being held in detention at the International Criminal Court (ICC) on charges of murder as a crime against humanity. According to results released by the Commission on Elections, he won in a landslide with 405,000 votes compared to his nearest competitor's 49,000. He was brought to the Hague in March over his bloody war on drugs that killed thousands and landed him in jail. Duterte won greatly due to his influence in the southern city and his reputation as a crime-buster. His daughter, Vice President Sara Durete, was widely expected to run for president, but could be blocked from politics should a jury made up of the country’s Senate vote to impeach her. Asked on Monday about her father's likely victory, she said "he will not be here. Our expectation is that the vice mayor (Sebastian) will be the acting mayor". But she added that plans would be made for him to be sworn in as mayor. "The ICC lawyer said once we get proclamation papers, we will discuss how he can take oath," she said. Related contentDuterte elected mayor of home city from Hague prison
Asia
The Philippines heads to the polls for midterm elections
The Philippines nation is heading to the polls for their midterm elections, as a feud continues between two political dynasties. This election also marks the first time the nation will be allowed to vote online, meaning a smoother process for a massive overseas population to cast their ballots. Voting runs for 12 hours from 07:00 am local time (9:00 AEST), with early results expected soon after. The midterms will see a battle between candidates backed by President Ferdinand "Bongbong" Marcos Jr. and those supported by his Vice-President Sara Duterte. Duterte is the daughter of the nation's former president Rodrigo Duterte, who is currently awaiting trial in The Hague for crimes against humanity, over his "war on drugs". Duterte and Marcos ran together in the 2022 general election and won by a landslide, but their heavyweight political relationship has fallen apart since then. There are almost 69 million eligible voters who will decide the result of the 24-seat Senate, which will oversee Duterte's impeachment trial. The trial could see her barred from political office for life, ahead of her own presidential ambitions for 2028. If Marcos' Senate choices win more seats, it increases his chances of successfully
Asia
People's Action Party retains power in Singapore
Singapore's general election has again been won by the People's Action Party. The PAP have ruled the self-proclaimed democratic nation since 1959, when self-rule was handed over from Britain. Prime Minister Lawrence Wong was given the role in December by Lee Hsien Loong, who served for two decades. Wong and his party now expect to retain their huge parliamentary majority, despite growing opposition.Credit: pmo.gov.sgThis opposition mainly comes in the form of the Worker's Party, who won their highest result in history at the last election in 2020, scoring 10 out of 93 parliamentary seats. At a PAP rally last week, ahead of voting, Wong hit back at the WP, saying "they only want, as they say, more seats in parliament, more seats, but not more responsibility.” “It's a vote to weaken the PAP team, the team that is truly working for you.” Following the election results, he took to social media to write that he was “humbled and grateful” for the faith of people's votes. "Singaporeans have given the PAP a clear and strong mandate to govern,” Wong wrote. "I am humbled by and grateful for the faith you have placed in me and my team."