Djuro Macut takes the oath of office at the Serbian Parliament building in Belgrade, Serbia, on April 16, 2025. [Photo/Xinhua]
The National Assembly of Serbia on Wednesday elected a new government led by endocrinologist Djuro Macut.
A total of 153 members of parliament voted in favor, 46 opposed, while 51 lawmakers were absent from the session. The new cabinet will comprise 31 members.
Macut presented his government’s program and cabinet lineup on Tuesday, the first day of the special session of the National Assembly, outlining the key priorities of his administration.
Macut emphasized that his government would focus on domestic stabilization and strategic foreign policy. In response to ongoing youth-led protests and institutional disruptions, he pledged to uphold the rule of law and encourage open dialogue while safeguarding the rights of all citizens.
“Protests and expressions of discontent are natural for the youth,” Macut stated, “but blockades and the denial of others’ rights to work, study, or live normally are unacceptable.”
He announced the formation of a Council for Youth and Talents, which he will personally oversee. The council aims to nurture young talent and harness their potential for the country’s development.
On international affairs, Macut reaffirmed Serbia’s sovereign and balanced approach. While underscoring Serbia’s commitment to the European Union (EU) accession process, he emphasized the country’s independence in policymaking.
“Serbia does not approach the EU from a position of pleading, but from one of conviction. This relationship is a partnership founded on mutual respect, not asymmetry,” he said.
He also stressed that domestic reforms are guided by national priorities rather than external demands. “Our reforms are not a response to EU requirements. They are a response to the needs of our citizens,” Macut added.
Furthermore, he reaffirmed Serbia’s dedication to broad international cooperation, stating that the country will “extend hands of cooperation to all.”
Macut also addressed the Kosovo issue, calling it the highest national priority. “We do not abandon our principles, but we do not reject dialogue. Peace is impossible without justice,” he asserted.
Macut’s nomination follows the resignation of former Prime Minister Milos Vucevic, who stepped down on Jan. 28 amid mounting tensions following the deadly canopy collapse at the Novi Sad railway station in November 2024, which resulted in 16 fatalities. The National Assembly officially confirmed Vucevic’s resignation on March 19.
The Chinese embassy in Britain on Wednesday urged the British government to follow the principles of fairness, impartiality and non-discrimination in dealing with the issue of British Steel to make sure that the legitimate rights and interests of Chinese companies in Britain are protected.
The anti-China rhetoric of some individual British politicians regarding the issue of British Steel is “extremely absurd,” a spokesperson for the Chinese embassy in Britain said in a statement.
The spokesperson made the remarks as several politicians attacked Chinese companies and the Chinese government following the British government’s recent takeover of British Steel from private Chinese enterprise Jingye Group, which has owned the company since 2020.
The attacks by some individual British politicians reflected “their arrogance, ignorance and twisted mindset,” said the spokesperson.
The spokesperson stressed that the Jingye Group is a private Chinese enterprise that makes business investments in Britain on the basis of market principles and conducts operation on its own.
British Steel had been losing money for many years before its acquisition by Jingye and actually went into compulsory liquidation in 2019, noted the spokesperson.
“After taking over, Jingye put in substantial funding to keep the company afloat to this day. Had it not been for the involvement of this Chinese company, British Steel workers might have already faced the risk of unemployment,” said the spokesperson.
It is understood that, under the British government’s net-zero strategy, steel companies that use iron ore to produce steel must achieve net-zero emissions by 2035. To that end, British steel companies including British Steel have all negotiated with the government to find a path to decarbonization transition. Among them, the Port Talbot Steelworks in Wales closed its blast furnace in July 2024.
“British Steel’s plan to close its blast furnaces and build electric arc furnaces is a normal decision, and it is understandable that the company conducted negotiations with the government on investment for the transition,” said the spokesperson.
Generally speaking, Chinese companies in Britain have operated in compliance with the law and achieved steady progress, and have made positive contributions to the local economy, the spokesperson said. According to statistics available, Chinese companies in Britain have contributed over 115 billion pounds (152.6 billion U.S. dollars) to the British economy and created nearly 60,000 jobs.
Any words or deeds that politicize or maliciously hype up business issues will undermine the confidence of Chinese business investors in Britain and damage China-Britain economic and trade cooperation, said the spokesperson.
“It is hoped that the British government will continue to engage in consultations and negotiations with Jingye to actively seek a solution acceptable to all parties,” said the spokesperson.
A Chinese foreign ministry spokesperson said on Thursday that the United States’ 245 percent tariff on certain products from China no longer makes economic sense.
The White House issued a Fact Sheet about Section 232 investigation on its website on April 15, saying that China faces up to a 245 percent tariff on imports to the United States as a result of its retaliatory actions.
In response to a relevant query, the spokesperson pointed out that China has made it very clear that the United States’ extortionate tariff hikes on China have become a numbers game, which economically does not make much actual difference anymore, except further demonstrating how the United States weaponizes tariff to coerce and bully others.
“China does not want to fight those wars but neither are we afraid of them,” said the spokesperson, noting that tariff and trade wars have no winners.
“If the United States continues to play this numbers game with tariffs, it will simply be ignored. But if the United States continues to inflict actual damage on China’s rights and interests, China will respond with resolute countermeasures and will stand our ground to the end,” the spokesperson said.
Chinese President Xi Jinping, Malaysian King Sultan Ibrahim Sultan Iskandar, and Malaysian Prime Minister Anwar Ibrahim pose for a group photo in Kuala Lumpur, Malaysia, April 16, 2025. [Photo/Xinhua]
Chinese President Xi Jinping’s ongoing state visit to Malaysia marks a significant step in strengthening China-Malaysia all-round cooperation as the two sides have agreed to work together to build a high-level strategic China-Malaysia community with a shared future.
On Wednesday, Xi met with Malaysian King Sultan Ibrahim Sultan Iskandar and Prime Minister Anwar Ibrahim, respectively. Both sides emphasized their commitment to enhancing economic cooperation within the framework of the Belt and Road Initiative, and developing future industries such as artificial intelligence, digital economy and green economy.
High-level exchanges
When meeting the king, Xi said that China is ready to work with the Malaysian side to build a high-level strategic China-Malaysia community with a shared future, so as to usher in new “Golden 50 Years” for bilateral ties.
China and Malaysia are good neighbors, good friends and good partners who visit each other as often as family, Xi said, adding that bilateral relations have gone through a magnificent half-century and are embracing an even brighter future.
Xi called on the two sides to ensure good implementation of major projects such as the “Two Countries, Twin Parks” program and the East Coast Rail Link, and to actively foster cooperation in future industries such as artificial intelligence, digital economy and green economy.
China supports Malaysia in its role as the 2025 ASEAN chair and stands ready to work with the country to implement the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, Xi said.
For his part, King Sultan Ibrahim expressed his belief that Xi’s visit will comprehensively upgrade bilateral relations and promote vigorous development of cooperation in various fields, adding that China’s impressive development achievements are attributable to the foresight of President Xi and the hard work of the Chinese people.
Malaysia attaches great importance to its relations with China and will work with China toward win-win cooperation and promote the building of the high-level strategic China-Malaysia community with a shared future no matter how the international situation evolves, he said.
Malaysia values regional economic integration, firmly supports the Belt and Road Initiative, and stands ready to strengthen trade and investment cooperation with China, jointly stabilize industrial and supply chains, enhance connectivity and boost people-to-people and educational exchanges, said the king.
While meeting the prime minister, Xi urged joint efforts to resist decoupling, supply chain disruptions, “small yard with high fences” and arbitrary imposition of tariffs with openness, inclusiveness, unity and cooperation.
He also called for responding to the law of the jungle with Asian values of peace, cooperation, openness and inclusiveness, and responding to an unstable and uncertain world with a stable and certain Asia.
Thriving cooperation, flourishing ties
China-Malaysia ties run deep. From the voyages of renowned Chinese navigator Zheng He in the 15th century to the establishment of diplomatic relations in 1974, and to the building of a community with a shared future today, the two countries have long enjoyed cultural affinity and strategic trust.
During Xi’s 2013 visit, the two countries upgraded ties to a comprehensive strategic partnership. A decade later, the relationship was elevated again to a China-Malaysia community with a shared future.
In a signed article published in Malaysian media ahead of his arrival, Xi said the decision on building the China-Malaysia community with a shared future marked “a new milestone in the bilateral relations.”
“Our bilateral cooperation potential is being progressively realized in the digital economy, green development, industrial investment and transport infrastructure construction,” he wrote.
As a vital node along the ancient Maritime Silk Road, Malaysia is among the first to participate in Belt and Road cooperation. Thanks to joint efforts and Xi’s steadfast push, bilateral collaboration within the framework has achieved many results.
In 2024, China-Malaysia trade reached 212 billion U.S. dollars, nearly 1,000 times the level at the inception of diplomatic relations. China has been Malaysia’s largest trading partner for 16 consecutive years.
On top of that, bilateral initiatives like the “Two Countries, Twin Parks” program, which pairs industrial zones in Qinzhou and Kuantan, have emerged as a model for regional collaboration. This partnership has spurred the expansion of port collaboration and infrastructure connection.
A notable example is the East Coast Rail Link, a 665 km railway whose construction is in full swing. The railway, once completed, will bridge Malaysia’s less-developed east coast with its economic powerhouse on the west coast, enhancing connectivity and fostering balanced growth.
Samirul Ariff Othman, an economist at Malaysia’s Universiti Teknologi PETRONAS, said, “the flourishing economic ties between Malaysia and China demonstrate the resilience and mutual benefits of our bilateral relationship.”
“The continued expansion of investments in high-value sectors such as technology, green energy and manufacturing will further deepen our cooperation,” said Othman.
Multilateral collaboration
Experts believe that the significance of Xi’s visit goes beyond bilateral relations. “It will greatly impact ASEAN-China relations, injecting new momentum into regional development and stability,” said Ong Tee Keat, president of the Belt and Road Initiative Caucus for Asia Pacific.
In the signed article, Xi noted that China was the first ASEAN dialogue partner to accede to the Treaty of Amity and Cooperation in Southeast Asia, and the first to establish a free trade area and a comprehensive strategic partnership with ASEAN.
Bilateral cooperation between China and ASEAN is more robust than ever, he said, adding that in 2024, China-ASEAN trade exceeded 980 billion dollars, making the two sides each other’s largest trading partner for five consecutive years.
According to China’s General Administration of Customs, ASEAN remained China’s largest trading partner in the first two months of 2025. During this period, trade between China and ASEAN countries reached a total of 1.03 trillion yuan, or 15.8 percent of China’s overall trade value.
China fully supports Malaysia in its role as the ASEAN chair for 2025 and looks forward to Malaysia serving as a stronger bridge between the two sides as the country coordinator for China-ASEAN Dialogue Relations, Xi said.
China will work with Malaysia and other ASEAN countries to combat the undercurrents of geopolitical and camp-based confrontation, as well as the countercurrents of unilateralism and protectionism, said the Chinese leader.
“We must brave the waves ahead and advance the high-level strategic China-Malaysia community with a shared future, and jointly build a stronger China-ASEAN community with a shared future,” Xi said.
ER Report: Here is a summary of significant articles published on EveningReport.nz on April 17, 2025.
Most bees nest in the ground. Offering rocks and gravel is a simple way to help them thrive Source: The Conversation (Au and NZ) – By Freya Marie Jackson, PhD Candidate, School of Veterinary and Life Sciences, Murdoch University _Lasioglossum dotatum_ kerrysturat/iNaturalist, CC BY-NC-ND Of the more than 20,000 bee species in the world, 70% nest in the ground. And like many of their counterparts that nest above ground, these bees are facing
Thailand’s fragile democracy takes another hit with arrest of US academic Source: The Conversation (Au and NZ) – By Adam Simpson, Senior Lecturer, International Studies, University of South Australia Despite the challenges faced by local democratic activists, Thailand has often been an oasis of relative liberalism compared with neighbouring countries such as Myanmar, Laos and Cambodia. Westerners, in particular, have been largely welcomed and provided with
In the trade war, China has moved to curb supply of critical minerals. Can Australia seize the moment? Source: The Conversation (Au and NZ) – By Marina Yue Zhang, Associate Professor, Technology and Innovation, University of Technology Sydney China has placed curbs on exports of rare germanium and gallium which are critical in manufacturing. Shutterstock In the escalating trade war between the United States and China, one notable exception stood out: 31 critical
‘The pay is not worth the stress’: research finds 10% of lawyers plan to quit within a year Source: The Conversation (Au and NZ) – By Vivien Holmes, Emerita Professor, Australian National University Momentum studio/Shutterstock No one goes into the legal profession thinking it is going to be easy. Long working hours are fairly standard, work is often completed to tight external deadlines, and 24/7 availability to clients is widely understood to be
Contemporary television is rarely as good as The Narrow Road to the Deep North Source: The Conversation (Au and NZ) – By Stephen Gaunson, Associate Professor in Cinema Studies, RMIT University Prime The Narrow Road to the Deep North stands as some of the most visceral and moving television produced in Australia in recent memory. Marking a new accessibility and confidence to director Justin Kurzel, it reunites him with
NZ’s over-reliance on roads for freight means natural disasters hit even harder. But there is a fix Source: The Conversation (Au and NZ) – By Cécile L’Hermitte, Senior Lecturer in Logistics and Supply Chain Management, University of Waikato In the aftermath of Cyclone Gabrielle, the driving time between Napier and Wairoa stretched from 90 minutes to over six hours, causing major supply chain delays. Retail prices rose and shoppers faced empty shelves.
‘They are like my children’: research reveals 4 types of indoor plant owners. Which one are you? Source: The Conversation (Au and NZ) – By Brianna Le Busque, Lecturer in Environmental Science, University of South Australia maramorosz/Shutterstock Walk into any home or workplace today, and you’re likely to find an array of indoor plants. The global market for indoor plants is growing fast – projected to reach more than US$28 billion (A$44
Cracks in social cohesion – the major parties must commit to reinvigorating multiculturalism Source: The Conversation (Au and NZ) – By Andrew Jakubowicz, Emeritus Professor of Sociology, University of Technology Sydney In the run up to the May 3 election, questions are being raised about the value of multiculturalism as a public policy in Australia. They’ve been prompted by community tensions arising from the Israeli/Palestinian conflict and the
State of the states: six experts on how the campaign is playing out around Australia Source: The Conversation (Au and NZ) – By David Clune, Honorary Associate, Government and International Relations, University of Sydney The federal election campaign has passed the halfway mark, with politicians zig-zagging across the country to spruik their policies and achievements. Where politicians choose to visit (and not visit) give us some insight into their electoral
People are ‘microdosing’ weight-loss drugs. A GP explains what to watch out for Source: The Conversation (Au and NZ) – By Natasha Yates, General Practitioner, PhD Candidate, Bond University MillaF/Shutterstock Injectable medications originally developed for the treatment of diabetes are also effective for weight loss, and have surged in popularity for this purpose around the world. In Australia, Ozempic is approved for the treatment of type 2 diabetes,
With the end of Flybuys NZ, what happens to the personal data of nearly 3 million Kiwis? Source: The Conversation (Au and NZ) – By Lisa M. Katerina Asher, Doctoral Candidate, Business School, University of Sydney JuSun/Getty Images After almost three decades in New Zealand, loyalty programme Flybuys announced it would be closing in 2024. The company behind the scheme, Loyalty New Zealand, has since entered liquidation, leaving the future of one
New Aussie film The Correspondent is an extraordinary retelling of Peter Greste’s story Source: The Conversation (Au and NZ) – By Andrea Jean Baker, Senior Lecturer in Journalism, Monash University Maslow Entertainment The Correspondent is a film every journalist should see. There are no spoiler alerts. It is based on the globally-publicised jailing in Cairo in 2013 of Australian journalist Peter Greste (played by Richard Roxburgh) and his
Fiji defence minister draws flak for six-week trip to meet peacekeepers RNZ Pacific Fiji’s Minister for Defence and Veteran Affairs is facing a backlash after announcing that he was undertaking a multi-country, six-week “official travel overseas” to visit Fijian peacekeepers in the Middle East. Pio Tikoduadua’s supporters say he should “disregard critics” for his commitment to Fijian peacekeepers, which “highlights a profound dedication to duty and
Election Diary: there were a couple of ‘moments’ in second Albanese-Dutton encounter Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Two “moments” stuck out in Wednesday’s leaders’ debate, the second head-to-head of the campaign. Peter Dutton cut his losses over his faux pas this week when he wrongly named Indonesian president Prabowo Subianto as having said there had been a
Second leaders’ debate is a tame affair befitting a ‘deeply uninspiring’ campaign Source: The Conversation (Au and NZ) – By Andy Marks, Vice-President, Public Affairs and Partnerships, Western Sydney University Prime Minister Anthony Albanese and Opposition Leader Peter Dutton have had their second showdown of the 2025 federal election campaign. The debate, hosted by the ABC, was moderated by David Speers in the national broadcaster’s studios in
Poll shows Australians hate Trump policies and have lost trust in US, but still strongly believe in alliance Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Australians strongly disagree with key policies of US President Donald Trump, and have overwhelmingly lost trust in the United States to act responsibly in the world, according to the Lowy Institute’s 2025 poll. Despite this, 80% of people say the
We compared the Labor and Coalition’s income tax proposals to see who benefits most Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra Shutterstock We now have the competing bids for our votes by the alternative governments on income tax policy. From Labor, future cuts to the lowest marginal tax rate and new standard deductions for
Half of Australian landlords sell their investments after 2 years, adding to renters’ insecurity Source: The Conversation (Au and NZ) – By Ranjodh B. Singh, Senior Economics and Finance Lecturer, Curtin University Marc Bruxelle/Shutterstock Australia’s renters have to battle rising rents and a lack of available properties. They also face ongoing instability. Our new research suggests half of all landlords sell their investment properties after only two years, adding
Labor and the Greens likely to gain Senate seats at the election Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne As well as the election for the full House of Representatives, there will be an election on May 3 for 40 of the 76 senators. The 72
Foreign monks and officials visit an exhibition on the reincarnation system of Living Buddhas in Beijing on Monday, gaining insights into the centuries-old spiritual succession system in Tibetan Buddhism. [Photo/China Daily] Foreign Buddhist practitioners and religious affairs officials said visits to key Tibetan sites and research institutions in China this week have deepened their understanding of the reincarnation system of Living Buddhas and the development of Tibetan Buddhism in the country. More than 20 monks and officials from 12 countries visited the Lama Temple and the China Tibetology Research Center in Beijing, as well as the Sera Monastery, Potala Palace, Jokhang Temple and Tibet University in Lhasa, capital of the Xizang autonomous region, from Monday to Wednesday. At the Lama Temple, monks expressed strong interest in the Discourse of Lama, an inscription carved in Manchu, Han, Mongolian and Tibetan. Written by Emperor Qianlong of the Qing Dynasty (1644-1911), the piece outlines the policy of selecting reincarnated Living Buddhas through a lot-drawing process using a golden urn. Emperor Qianlong granted two golden urns in 1792, placing one at the Lama Temple in Beijing and the other at the Jokhang Temple in Lhasa. The current procedure for identifying reincarnated Living Buddhas in China has been standardized and legalized based on historical practice, according to Hu Xuefeng, abbot of the Lama Temple. “According to the procedure, the reincarnation of a Living Buddha must be carried out in China and approved by the central government,” Hu said during a briefing on the temple’s history and development. Lharkyal Lama, vice-chairman of Nepal’s Lumbini Development Trust, said Living Buddhas play a vital role in promoting Tibetan Buddhism and that their reincarnation has a long and rich history. After viewing an exhibition on the reincarnation of Living Buddhas — including the Dalai Lama and Panchen Lama — at the Museum of Tibetan Culture at the China Tibetology Research Center, Penh Vibol, a member of the Secretariat of the Supreme Sangha Council of Cambodia, said the visit helped him better understand the background of the reincarnation tradition in China. “I think it’s a very good lesson and experience for us to come here and learn about the reincarnation story,” Vibol said. Monks said they were also pleased to see that Buddhist heritage sites and relics are well protected and that Buddhism remains vibrant in China. “The Lama Temple is a symbol of cultural connection between many different places,” said Lharkyal Lama. “You can see scriptures in different languages, including Tibetan and Chinese, and the architecture and relics have been beautifully preserved.” Phra Sophonvachirabhorn, assistant abbot of Wat Arun Ratchawararam in Thailand, said he was surprised to see so many young people worshiping at the Lama Temple. Hu, the abbot, said the temple receives an average of 20,000 visitors and worshipers daily — a sign that religious freedom is fully protected in the country. Nguyen Van Tan, a member of the General Buddhist Association of Vietnam, said he was impressed by the grandeur of the Sera Monastery in Lhasa. “I’m glad to have the opportunity to visit it for the first time. There are so many worshipers here, which shows that Buddhism has been well promoted,” he said. Mendbayar Demberel, an abbot from Mongolia, said he had in-depth exchanges with local Buddhist practitioners during visits to the Sera Monastery, Potala Palace and Jokhang Temple, which he described as both pleasant and fruitful. Jampa Choipel, a monk from the Sera Monastery, said the number of visitors from both China and abroad has grown in recent years. “Such exchanges have boosted understanding of Buddhism among practitioners from different parts of the world,” he said. “Together, we can contribute more to the harmonious development of local communities.”
Announcement on Open Market Operations No.73 [2025]
(Open Market Operations Office, April 17, 2025)
The People’s Bank of China conducted reverse repo operations in the amount of RMB245.5 billion through quantity bidding at a fixed interest rate on April 17, 2025.
Source: People’s Republic of China – State Council News
Xi calls for joint efforts to steadily build China-Cambodia community with shared future in new era
PHNOM PENH, April 17 — Chinese President Xi Jinping said China and Cambodia must work together to promote the steady and sustained progress in building the China-Cambodia community with a shared future in the new era.
Xi made the remarks in a signed article titled “Together We Strive, Together We Thrive: Toward a Stable and Sustainable China-Cambodia Community with a Shared Future in the New Era” published Thursday in Cambodian media outlets Khmer Times, Jian Hua Daily and Fresh News ahead of his arrival in Cambodia for a state visit.
Xi said that China and Cambodia should bring the mutual political trust to a higher level, and expand the mutually beneficial cooperation of higher quality.
Xi urged the two countries to forge greater synergy between the Belt and Road Initiative and the Pentagonal Strategy, and advance the development of the Industrial and Technological Corridor and the Fish and Rice Corridor.
He called on both sides to work together to ensure greater security, have more frequent people-to-people exchanges, and strengthen strategic coordination of higher standards.
Source: People’s Republic of China – State Council News
Xi hopes Cambodia visit to spearhead progress in building China-Cambodia community with shared future
PHNOM PENH, April 17 — Chinese President Xi Jinping said he hopes his visit to Cambodia will spearhead progress in building a China-Cambodia community with a shared future.
Xi made the remarks in a signed article titled “Together We Strive, Together We Thrive: Toward a Stable and Sustainable China-Cambodia Community with a Shared Future in the New Era” published Thursday in Cambodian media outlets Khmer Times, Jian Hua Daily and Fresh News ahead of his arrival in Cambodia for a state visit.
Noting that a China-Cambodia community with a shared future is deeply rooted in the historic legacy of good-neighborly relations, Xi said that the two countries’ friendly exchange spans two millennia of their shared history, thanks to the geographical proximity.
A China-Cambodia community with a shared future is also defined by the two countries’ mutual commitment to friendship and righteousness, he said, recalling that the friendship was forged by Cambodia’s King Father Norodom Sihanouk and Chairman Mao Zedong, Premier Zhou Enlai among the elder generations of Chinese leaders.
Xi noted that a China-Cambodia community with a shared future is powered by equality and mutual benefit. For many years, China has been Cambodia’s largest trading partner and largest source of investment, and the industrial and supply chain cooperation between the two countries has continued to deepen, he said.
A China-Cambodia community with a shared future is founded upon inclusiveness and mutual learning, Xi said.
Over the past 30 years, China has sent many experts to Cambodia across diverse fields, including archaeology, geological exploration, cultural heritage, history, architecture and the arts. They have helped bring renewed splendor to the Angkor legacy, a gem of human civilizations, he added.
China has placed curbs on exports of rare germanium and gallium which are critical in manufacturing.Shutterstock
In the escalating trade war between the United States and China, one notable exception stood out: 31 critical minerals, including rare earth elements, were strategically exempted from tariffs.
This was not a gesture of goodwill. It was a tacit acknowledgment of the United States’ deep dependence on China for materials essential to its technological competitiveness, clean energy transition and national defence.
Beijing’s response was swift and calculated. China’s Ministry of Commerce announced expanded export controls and a shift in pricing principles. The move reflects China’s long-standing effort to shift rare earth pricing from market supply and demand to pricing based on their strategic value.
The impact was immediate. Rare earth exports from China effectively ground to a halt, as exporters awaited approvals under a new, opaque licensing regime.
The announcement prompted President Trump to issue a new executive order directing a review of national security risks stemming from the US reliance on imported, processed critical minerals.
As global supply chains reel from these disruptions, Australia finds itself in a unique strategic position. As a trusted US ally, it possesses the resources, partnerships and political capital to step into the breach. But can Australia seize this opportunity – or will it come with strings attached?
China’s new playbook
China’s latest restrictions target seven rare earths – such as dysprosium and terbium – crucial for electric vehicles, wind turbines, fighter jets and missile systems.
While stopping short of a full export ban, the policy functions as a chokepoint. It leverages China’s near-total global control of rare earth refining (around 90%) and its monopoly on heavy rare earth processing (98%).
Domestically, China’s rare earth sector is dominated by two state-owned giants which together control nearly 100% of national mining quotas.
These measures have exposed the vulnerability of Western supply chains. The US has only one operational rare earth mine – Mountain Pass in California – and minimal domestic refining capacity. A new processing facility in Texas owned by Australia’s Lynas is under development, but it will take years to establish a self-sufficient supply chain.
Rare earths have become a source of contention in the tariff war. Shutterstock
Europe faces similar challenges. While rare earths are vital to the EU’s green transition, domestic production remains limited. Efforts to diversify through partners like Australia and Canada show promise but are hindered by high production costs and continued reliance on Chinese technology.
China is also working to redefine how rare earths are priced. One proposal would tie the value of key elements like dysprosium to the price of gold, elevating them from industrial inputs to geopolitical assets. Another would settle rare earth transactions in yuan rather than US dollars, advancing Beijing’s broader ambition to internationalise its currency.
For China, this strategy goes beyond economics. It is a deliberate national resource policy comparable to OPEC’s management of oil, designed to link pricing to the strategic significance of critical minerals.
Australia’s window?
Investors
are closely watching Australian producers. Strategic deposits such as Mt Weld in Western Australia have drawn renewed interest from Japan, Europe and the US.
Industry observers argue Australia is better positioned than the US to develop secure supply chains, due to its rich geological endowment and transparent regulatory environment.
To seize this opportunity, the government has begun to act.
Under its Future Made in Australia initiative, the federal government is considering measures such as strategic stockpiling, production tax credits and expanded support for domestic processing. Iluka Resources has secured A$1.65 billion to build a rare earth refinery, due to be operational by 2026.
Emerging projects like Browns Range and Lynas’s Malaysian refinery already serve as alternative nodes in the global rare earth supply chain network.
However, structural barriers remain. The Western allies, including Australia, still lack key processing technologies and have potentially high environmental compliance costs. Lynas’s Texas plant was intended to expand allied capacity but has faced delays due to environmental approvals.
Walking a diplomatic tightrope
Geopolitical tensions add another layer of complexity. Australia’s dual role – as a major upstream supplier to China and a strategic ally of the US – places it on a diplomatic tightrope.
Aligning too closely with the US could invite Chinese retaliation. Appearing overly aligned with China may provoke scrutiny from Washington.
Ownership concerns are also rising. The government has blocked or forced divestment of Chinese stakes in rare earth and lithium companies including Northern Minerals.
Market volatility compounds these challenges. Prices are currently buoyed by geopolitical risk, but have been volatile. Moreover, China’s ability to undercut global prices could erode the competitiveness of Australian exports.
A strategic opportunity – but with strings attached
Australia stands at the centre of a rare strategic inflection point. It is both a beneficiary of China’s retreat and a potential casualty of intensifying great power competition.
In a world where resources confer influence, the question for Australia is not simply whether it has the mineral deposits but whether it has the strategy to match.
If the government can capitalise on this moment – diversifying partnerships, investing in capabilities, and navigating allies and rivals with strategic care – it could emerge as a leader in a more diverse critical minerals landscape.
In the era of mineral geopolitics, possessing the resources is no longer enough. The real test is whether Australia has the foresight and the will to lead.
Marina Yue Zhang does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Despite the challenges faced by local democratic activists, Thailand has often been an oasis of relative liberalism compared with neighbouring countries such as Myanmar, Laos and Cambodia.
Westerners, in particular, have been largely welcomed and provided with a measure of protection from harassment by the authorities. Thailand’s economy is extremely dependent on foreign tourism. Many Westerners also work in a variety of industries, including as academics at public and private universities.
That arrangement now seems under pressure. Earlier this month, Paul Chambers, an American political science lecturer at Naresuan University, was arrested on charges of violating the Computer Crimes Act and the lèse-majesté law under Section 112 of Thailand’s Criminal Code for allegedly insulting the monarchy.
Chambers’ visa has been revoked and he now faces a potential punishment of 15 years in jail.
The lèse-majesté law has become a common tool for silencing Thai activists. At least 272 people have been charged under the law since pro-democracy protests broke out in 2020, according to rights groups.
Its use against foreigners has, until now, been limited. No foreign academic has ever been charged with it. Because of the law, however, most academics in Thailand usually tread carefully in their critiques of the monarchy.
The decision to charge a foreign academic, therefore, suggests a hardening of views on dissent by conservative forces in the country. It represents a further deterioration in Thailand’s democratic credentials and provides little optimism for reform under the present government.
Thailand’s democratic deficit
Several other recent actions have also sparked concerns about democratic backsliding.
Following a visit by Prime Minister Paetongtarn Shinawatra to China in February, the government violated domestic and international law by forcibly returning 40 Uyghurs to China.
The Uyghurs had fled China a decade earlier to escape repression in the western Xinjiang region and had been held in detention in Thailand ever since. They now potentially face worse treatment by the Chinese authorities.
Then, in early April, Thailand welcomed the head of the Myanmar junta to a regional summit in Bangkok after a devastating earthquake struck his war-ravaged country.
Min Aung Hlaing has been shunned internationally since the junta launched a coup against the democratically elected government in Myanmar in 2021, sparking a devastating civil war. He has only visited Russia and China since then.
In addition, the military continues to dominate politics in Thailand. After a progressive party, Move Forward, won the 2023 parliamentary elections by committing to amend the lèse-majesté law, the military, the unelected Senate and other conservative forces in the country ignored the will of the people and denied its charismatic leader the prime ministership.
The party was then forcibly dissolved by the Constitutional Court and its leader banned from politics for ten years.
In February, Thailand’s National Anti-Corruption Commission criminally indicted 44 politicians from Move Forward for sponsoring a bill in parliament to reform the lèse-majesté law. They face lifetime bans from politics if they are found guilty of breaching “ethical standards”.
Even the powerful former prime minister, Thaksin Shinawatra, who is also the uncle of the current prime minister, is not immune from the lèse-majesté law.
He was indicted last year for allegedly insulting the monarchy almost two decades ago. His case is due to be heard in July.
This continued undermining of democratic norms is chipping away at Thailand’s international reputation. The country is now classified as a “flawed democracy” in the Economist Intelligence Unit’s Democracy Index, with its ranking falling two years in a row.
The lèse-majesté law has always represented something of a challenge to academic freedom in Thailand, as well as freedom of speech more generally. Campaigners against the law have paid a heavy price.
The US State Department has provided a statement of support for Chambers, urging the Thai government to “ensure that laws are not used to stifle permitted expression”. However, given the Trump administration’s attacks on US universities at the moment, this demand rings somewhat hollow.
Academic freedom is a hallmark of democracies compared with authoritarian regimes. With the US no longer so concerned with protecting academic freedom at home, there is little stopping flawed democracies around the world from stepping up pressure on academics to toe the line.
The undermining of democracy in the US is already having palpable impacts on democratic regression around the world.
With little international pressure to adhere to democratic norms, the current Thai government has taken a significant and deleterious step in arresting a foreign academic.
In the future, universities in Thailand, as in the US, will find it harder to attract international talent. Universities – and the broader society – in both countries will be worse off for it.
Adam Simpson does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
The Chinese and Egyptian air forces will conduct a joint training from mid-April to early May in Egypt, according to a statement released by the Chinese Ministry of National Defense on Wednesday. This will mark the first joint training between the two countries’ air forces, the statement noted, adding that it is of great significance for advancing practical cooperation and enhancing mutual trust and friendship between the two militaries.
Chinese Vice Premier Liu Guozhong, also a member of the Political Bureau of the Communist Party of China Central Committee, inspects the construction site of a comprehensive improvement project of the Yongding River in Shijingshan District of Beijing, capital of China, April 9, 2025. [Photo/Xinhua] Chinese Vice Premier Liu Guozhong has emphasized the need to improve the flood control and disaster reduction capacities of the Haihe River Basin, and the importance of strengthening spring agricultural production. Liu, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during a research trip to Beijing and Hebei. He stressed the importance of implementing the central authorities’ decisions and plans on accelerating the improvement of the flood control system in the Haihe River Basin, and the need to ensure the safety of major cities and infrastructure. Liu also called for improving the rain monitoring and forecast system, with strict control over the quality of the entire process, and supervision over the construction progress and use of funds. It is necessary to strengthen flood control management and eliminate various kinds of risks and hidden dangers in a timely manner, he said. During the tour, he stressed that solid work should be done in spring ploughing and related preparations, and in promoting high-quality summer grain production. He also required efforts to ensure there is no large-scale return to poverty.
Workers perform production tasks at Harbin Turbine Company Limited of Harbin Electric Corporation in Harbin, capital of northeast China’s Heilongjiang Province, April 10, 2023. [Photo/Xinhua] Chinese Vice Premier Zhang Guoqing has called for the deepened reform of state-owned enterprises (SOEs) and the accelerated establishment of regional emergency rescue centers. Zhang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an inspection tour in northeast China’s Heilongjiang province which began on Monday and ended on Wednesday. He stressed the resolute need to make SOEs stronger and better, as well as the importance of reinforcing the principal role of enterprises in scientific and technological innovation, making breakthroughs in key technologies and forging new advantages. Work must be done to efficiently allocate resources to principal businesses and important industries and sectors, strengthen core competitiveness, and make steady progress on the path of high-quality development, Zhang said. It is necessary to advance the establishment of regional emergency rescue centers to cope with flood and forest fire, he said, stressing the importance of coordinating with local governments, of quick reactions, and of cross-regional support. When inspecting local dairy firms, Zhang called for strengthened source management and full-chain oversight to improve food safety.
Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, inspects the Northwest Institute for Non-ferrous Metal Research during an inspection tour in northwest China’s Shaanxi Province on April 15, 2025. [Photo/Xinhua] Chinese Vice Premier Ding Xuexiang has called for the consolidation of development confidence and strengthened innovation-driven growth to enable steady progress in the country’s high-quality development. Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an inspection tour in northwest China’s Shaanxi province from Monday to Wednesday. He stressed the importance of promoting the integrated development of sci-tech innovation and industrial innovation, and of accelerating the development of a modern industrial system. Work must be done to maintain a fair, organized market order and prevent rat-race competition, Ding said, adding that basic research in the applied sciences should be enhanced. He urged more efforts to make breakthroughs in key and core technologies, and efforts to increase support for investment in startups. More should be done to improve vocational education and help graduates find suitable jobs quickly, he said. Opening to the outside world is a fundamental national policy for China, and the country is willing to deepen cooperation with all parties to achieve mutual benefits, Ding said. Shaanxi should be integrated more deeply into the process of the joint construction of the Belt and Road, and move faster to build a highland for inland reform and opening-up, he noted. At a symposium during the tour, Ding called for the effective implementation of central decisions and plans, and for the expansion of domestic demand on all fronts. He also stressed the need to help foreign trade enterprises overcome difficulties, and to make greater efforts to stabilize employment. Ding expressed the hope that Shaanxi will give full play to its advantages and strive to write its own chapter of Chinese modernization.
Source: People’s Republic of China – State Council News
Latest edition of Canton Fair shows resilience, vitality of China’s foreign trade
The 137th edition of the Canton Fair kicked off on Tuesday, with more than 30,000 export exhibitors attending and more than 200,000 preregistered overseas buyers. This edition features a special service robot zone for the first time!
A Chinese mainland spokesperson on Wednesday condemned the Democratic Progressive Party (DPP) authorities, led by Lai Ching-te, for what was described as “despicable” acts of kowtowing to the United States and selling out Taiwan’s interests. Zhu Fenglian, spokesperson for the State Council Taiwan Affairs Office, made the remarks at a press conference in response to a media query about chipmaker TSMC’s investment expansion in the United States, the U.S. imposition of a 32 percent tariff on Taiwan, and Lai Ching-te’s response to the entire issue which has drawn widespread criticism. The DPP authorities have willingly sold out the island’s core strategic industries in pursuit of “Taiwan independence,” but in return, Taiwan now faces high tariffs imposed by the United States, which has shattered the deliberately constructed illusion of a so-called solid U.S.-Taiwan relationship, according to Zhu. “In the face of the United States’ abuse of tariffs and its unilateral provocation of a global trade war, we took immediate and resolute countermeasures not only to protect our legitimate rights and interests, but also to safeguard international trade rules and international fairness and justice,” the spokesperson said. Noting the praise in Taiwan for the mainland’s courage and confidence, Zhu said that as long as peace is maintained across the Taiwan Strait and compatriots are united, the two sides of the Strait can jointly strengthen the economy of the Chinese nation, resist external risks and achieve the rejuvenation of the Chinese nation. On TSMC’s deal with Intel and growing concerns from the island over the United States draining Taiwan’s semiconductor industry, Zhu said TSMC has long been regarded as the DPP’s “pledge of allegiance” to the United States to seek independence, and it is only a matter of time before Lai “throws away” Taiwan’s semiconductor industry. If the DPP authorities are allowed to continue to “sell out” and “destroy” Taiwan, Taiwan’s industries and residents will lose not just jobs, but also future development opportunities, Zhu said.
Seniors of the First Social Welfare Home of Chongqing interact with eldercare robot Peipei in southwest China’s Chongqing Municipality, March 28, 2025. [Photo/Xinhua] China will push forward reforms in its elderly care services and improve its civil services, State Councilor Shen Yiqin said during a visit to south China’s Guangxi Zhuang Autonomous Region, which began on Sunday and ended on Wednesday. Shen urged efforts to improve the efficiency of elderly care services and build a comprehensive, three-tier service network that covers both urban and rural areas. Providing tailored, sustainable paid-meal services for the elderly was highlighted as a priority. Shen also stressed the importance of enforcing newly revised marriage registration regulations that aim to improve marriage services and ease registration pains. She called for enhanced dynamic monitoring and regular assistance for low-income groups, improved support for children in difficult situations, and reinforced social safety nets. Efforts should also be made to improve the social security system for people with disabilities, particularly care services for those with severe disabilities, she said.
Source: United States House of Representatives – Congressman Gregory W Meeks (5th District of New York)
Washington, DC – Representative Gregory W. Meeks, Ranking Member of the House Foreign Affairs Committee, today led 18Committee Democrats in sending a letter to Secretary of State Marco Rubio expressing alarm over the United States’ failure to respond effectively to the devastating earthquake in Burma on March 28.
The letter highlights how the administration’s unlawful shuttering of USAID and gutting of U.S. foreign assistance undermines the United States’ capacity to respond to crises, jeopardizes lives, and betrays American leadership and national security interests around the world. The lawmakers demand answers from Secretary Rubio about the administration’s response to the earthquake in Burma, including its firing of a three-person assessment team on the ground just days after their arrival.
Text of the letter can be found below. A PDF copy of the letter can be foundhere.
Dear Secretary Rubio:
We write to express our alarm at the United States’ failure to respond effectively to the devastating earthquake in Burma on March 28. We are further concerned that the Administration’s unlawful shuttering of USAID and gutting of U.S. foreign assistance programs has compromised America’s ability to respond to this crisis.
The United States has long been a leader in humanitarian assistance and disaster response globally, including in Asia after the 2005 Indian Ocean tsunami. These efforts have enhanced America’s reputation, bolstered our diplomatic influence, and strengthened our military-to-military cooperation and bilateral relationships with nations in the region. The Trump Administration’s disastrous response to the earthquake in Burma severely undercuts that leadership, and, unless corrected, will damage our influence and interests in the region.
The 7.7 magnitude earthquake near Mandalay damaged buildings as far away as Bangkok, Thailand. The Burmese government estimates more than 3,300 people have died and more than 4,800 were wounded, while the U.S. Geological Survey estimates the death toll could be higher than 10,000 people given the impact on heavily populated areas. Countless buildings, bridges and homes were destroyed in Burma, with hospitals overwhelmed. To make matters worse, the horrific Burmese military continued to bomb its citizens in the aftermath of the earthquake.
President Trump initially confirmed to reporters after the quake that the U.S. would be rushing assistance to the region. Instead, public reporting suggests that the United States has been missing in action. In stark contrast to USAID’s typical work to mobilize dozens of expert American first responders for early life-or-death recovery efforts, the Administration waited several days to send a small response team of three personnel to the region to assess the damage—and then dismissed them from their roles two days later. The United States initially agreed to send $2 million dollars in relief funding—later increasing it to $9 million after public criticism, but still a pittance compared to past U.S. humanitarian and disaster response efforts and the assistance pledged by other nations.
The United States’ scant and chaotic response to this crisis created a vacuum that other nations are exploiting to boost their own influence. The People’s Republic of China (PRC), in particular, has filled the gap by pledging $14 million for relief efforts and sending 600 rescue workers to the impacted region. So, instead of seeing American relief workers wearing the USAID logo, crisis-affected populations in Southeast Asia are seeing images and videos of PRC rescue workers pulling people out of rubble, helping the sick, providing life-saving food and medicine, and building credibility with local governments.
USAID’s Regional Development Mission for Asia was based in Bangkok and could have mobilized to lead the relief efforts if the Trump Administration had not unilaterally gutted it in the weeks prior. Tragically, many USAID staff who had been stationed in the region and could have rushed to the scene instead received termination notices on the day of the earthquake. The way they and the three members of the short-lived response team were treated is unprofessional and insulting and underscores the negligent way this Administration has handled this crisis and stewarded U.S. government personnel and resources.
Moreover, at a time when people in the affected region would ordinarily turn to Voice of America (VOA) Burmese and Radio Free Asia to get critical updates, the Administration’s dismantling of the U.S. Agency for Global Media have forced both to go silent. VOA Burmese was critical in getting information out during the 2009 Cyclone Nargis crisis, while RFA played a vital role in closely covering Cyclone Mocha and its devastating aftermath in 2023. Now, VOA staff are on administrative leave and RFA has furloughed of most of its journalists and staff.
If the Administration does not act quickly to turn things around on its response to the current disaster in Southeast Asia, U.S. credibility risks being severely damaged within ASEAN and the broader region. Your statement last week that “we are not the government of the world” and have “other needs” and “other priorities” burns friendships we have built and commitments we have made in the region—including with treaty allies and through bilateral security cooperation agreements that anchor humanitarian and disaster response as shared national security priorities. This will only encourage our partners and allies to look to and work with China instead.
Notwithstanding the gravity of this emergency, the State Department has provided little information to House Foreign Affairs Committee staff despite several requests. So, we reiterate here our request for the Administration to brief the Committee this month on its response to the Southeast Asia quake, and we request a written response from you by April 22 with answers to the following questions:
The U.S. response thus far has betrayed our moral leadership and U.S. national security interests. We seek answers to the questions above so that we can partner with you to remedy the damage and restore the U.S. foreign assistance tools we need to be a global leader.
The United States has been playing a meaningless tariff game and China will ignore it, a Chinese commerce ministry spokesperson said on Wednesday.
When replying to a question about the United States’ 245 percent tariff on certain products from China, the spokesperson said the United States has instrumentalized and weaponized tariffs to an irrational level.
China has repeatedly clarified its stance on U.S. “reciprocal tariffs,” and will ignore this meaningless game of tariffs, the spokesperson noted. However, should the United States persist in substantially undermining China’s interests, China will take firm countermeasures and fight to the end.
California governor Gavin Newsom announced on Wednesday that the western U.S. state which has the largest economy in the nation is suing the Trump administration over the President’s sweeping “unlawful tariffs” on international trading partners.
“President Trump’s unlawful tariffs are wreaking chaos on California families, businesses, and our economy – driving up prices and threatening jobs,” Newsom said in a statement, adding that “We’re standing up for American families who can’t afford to let the chaos continue.”
“Donald Trump does not have the authority to impose these destructive and chaotic tariffs. America stands to lose too much,” said the governor in a post on X platform.
“We’re taking him to court,” said the governor.
“California is the largest manufacturing state in our union, one of the largest trading partners around the globe. No state will be impacted more than the state of California as it relates to the unilateral authority that’s been asserted by the Trump administration to impose the largest tax increases in modern American history,” he noted.
Newsom pointed out that “In America, forty percent of goods movements in this country come through two ports of entry in California. About 50 percent of that from China itself.”
In the lawsuit, expected to be filed in the U.S. District Court for the Northern District of California, California officials will argue that the law, known as the International Emergency Economic Powers Act, which Trump cited to impose the tariffs, does not grant him the ability to unilaterally adopt those tariffs.
California, also the most populated U.S. state, is the first state in the nation to sue Trump administration on tariffs.
The Golden State is the largest importer among all U.S. states, with more than 675 billion U.S. dollars in two-way trade supporting millions of jobs throughout the state. Mexico, Canada and China are California’s top three export destinations, buying nearly 67 billion dollars in California exports, which was over one-third of the state’s 183 billion dollars in exported goods in 2024, according to the data released by the governor’s office.
Source: People’s Republic of China – State Council News
China’s ratification of Agreement on Port State Measures significant step in fighting illegal fishing
BEIJING, April 16 — China’s ratification of the United Nations Food and Agriculture Organization’s Agreement on Port State Measures marks a significant step forward in the country’s ongoing efforts to combat illegal fishing and protect marine fishery resources, according to the Ministry of Agriculture and Rural Affairs on Wednesday.
“Joining the agreement means China will assume greater international responsibilities in fisheries management,” Liu Xinzhong, an official with the ministry, told a press conference.
The ratification of the agreement, the first binding international agreement to specifically target illegal, unreported and unregulated fishing, takes effect on Wednesday.
Liu noted that joining the agreement enables China to deepen its involvement in global fisheries governance, strengthen efforts to combat illegal fishing, protect marine fishery resources, and elevate port management standards.
This move will help advance the modernization of the fisheries industry, and boost high-level opening-up, Liu added.
Source: People’s Republic of China – State Council News
China-Cambodia ties set model for building community with shared future — Chinese ambassador
PHNOM PENH, April 16 — The friendly and close cooperation between China and Cambodia has become a model for building a community with a shared future for mankind and a new type of international relations as well, Chinese Ambassador to Cambodia Wang Wenbin has said.
Under the strategic guidance of Chinese President Xi Jinping and Cambodian leaders, the building of a China-Cambodia community with a shared future has entered a new era of high quality, high level and high standard, Wang said in a written interview with Xinhua.
China and Cambodia established diplomatic relations in 1958, and their traditional friendship fostered by successive generations of Chinese and Cambodian leaders has been continuously advanced, becoming a model of mutual respect and equal treatment between countries with different social systems and different sizes, he said.
Recent years have seen steady growth in their friendly and practical cooperation under the strategic guidance of the top leaders of the two countries, said the Chinese ambassador.
The two sides, he said, have been working to implement a new action plan on building the China-Cambodia community with a shared future, not least by promoting the synergy between the China-proposed Belt and Road Initiative (BRI) and Cambodia’s Pentagonal Strategy, enriching the dimensions of the Diamond Hexagon cooperation framework and accelerating the building of the “industrial development corridor” and the “fish and rice corridor.”
The efforts have yielded fruitful results, Wang said.
First, two-way trade has expanded remarkably thanks to the Regional Comprehensive Economic Partnership (RCEP) free trade deal and the China-Cambodia Free Trade Agreement (FTA). China has been Cambodia’s largest trading partner for 13 consecutive years. And in 2024, two-way trade reached 17.83 billion U.S. dollars, up by 20.7 percent year-on-year.
The approval for high-quality Cambodian agricultural and fishery products such as rice, bananas, mangoes, longans, coconuts and basa fish to enter the Chinese market has not only graced the dining tables of Chinese consumers but also boosted the incomes of Cambodian people.
Second, investment cooperation has continued to deepen. China has remained Cambodia’s largest source of foreign investment for 13 consecutive years, with investments spanning a wide range of sectors, including transportation, power, agriculture, manufacturing, tourism, special economic zones, as well as information and communications technology, characterized by extensive coverage, large scale and strong results.
Take the power sector. By the end of 2024, Chinese companies had completed and put into operation 10 hydropower plants and two thermal power plants in Cambodia, with a total installed capacity accounting for over 60 percent of the country’s total. This has provided a robust guarantee for Cambodians to “access electricity” and “enjoy reliable electricity.”
Third, mutually beneficial cooperation has improved people’s livelihoods. Major China-Cambodia landmark projects of Belt and Road cooperation, such as the Sihanoukville Special Economic Zone, the Phnom Penh-Sihanoukville Expressway and the Siem Reap Angkor International Airport, have become key drivers of Cambodia’s economic and social development, creating tens of thousands of local jobs.
Additionally, China has helped Cambodia build or upgrade approximately 4,000 km of roads and construct over 10 mega bridges, and implemented multiple “small yet smart” public wellbeing projects, including rural roads and water supply systems, significantly improving the living conditions of local residents.
Wang said that China-Cambodia people-to-people exchanges, as a key pillar of China-Cambodia friendship and cooperation, were boosted by the China-Cambodia People-to-People Exchange Year 2024. Over the years, the medical cooperation programs including “Love Heart Journey,” “Bright Journey” and “Smile Journey” have provided quality healthcare service to grassroots populations in more than 20 Cambodian provinces and cities.
The envoy said he expects people-to-people exchanges to continue to expand under the guidance of the China-proposed Global Civilization Initiative, which, according to him, will benefit areas ranging from culture, youth, media, think tanks, tourism and technology, to healthcare and cultural relics restoration.
As history and reality have both proven, he said, China and Cambodia are good neighbors, good brothers, good friends and good partners who share weal and woe and stand together through thick and thin.
The friendship between the two countries is not a transactional relationship, nor a stopgap measure, still less a bloc confrontation, he said.
Rather, it is rooted in the practical needs of our respective national development and rejuvenation, serves the common interests of both nations and peoples, and aligns with the historical trend of solidarity, self-strengthening and shared development among Global South countries, Wang said.
Facing an international landscape of turbulence and transformation along with ever-emerging global challenges, both China and Cambodia are committed to advancing peace, development and progress in the world, he said.
China will continue working hand in hand with Cambodia to carry forward their everlasting friendship, enhance strategic mutual trust and deepen mutually beneficial cooperation so as to elevate their traditional friendship to new heights and make fresh contributions to promoting peace, stability, development and prosperity both regionally and globally, Wang added.
Source: People’s Republic of China – State Council News
GUANGZHOU, April 16 — Chinese Vice Premier He Lifeng called for the high-quality development of foreign trade and joint efforts to build an open global economy.
He, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when attending the 137th China Import and Export Fair, also known as the Canton Fair, on Tuesday and Wednesday.
More efforts will be made to bolster foreign trade, foster new growth drivers of foreign trade, and encourage broader international economic and trade cooperation, he said.
The vast market and huge consumption potential of China provide opportunities for the entry of quality products from the world, the vice premier said, noting that the country has always been a trustworthy trade partner.
He urged foreign trade enterprises to make good use of the Canton Fair and explore diversified markets, and encouraged foreign buyers to promote trade and investment between China and the world.
Source: People’s Republic of China – State Council News
Chinese vice premier stresses need to deepen SOE reform, build regional emergency rescue centers
HARBIN, April 16 — Chinese Vice Premier Zhang Guoqing has called for the deepened reform of state-owned enterprises (SOEs) and the accelerated establishment of regional emergency rescue centers.
Zhang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an inspection tour in northeast China’s Heilongjiang Province which began on Monday and ended on Wednesday.
He stressed the resolute need to make SOEs stronger and better, as well as the importance of reinforcing the principal role of enterprises in scientific and technological innovation, making breakthroughs in key technologies and forging new advantages.
Work must be done to efficiently allocate resources to principal businesses and important industries and sectors, strengthen core competitiveness, and make steady progress on the path of high-quality development, Zhang said.
It is necessary to advance the establishment of regional emergency rescue centers to cope with flood and forest fire, he said, stressing the importance of coordinating with local governments, of quick reactions, and of cross-regional support.
When inspecting local dairy firms, Zhang called for strengthened source management and full-chain oversight to improve food safety.
Microsoft maintains a continuous effort to protect its platforms and customers from fraud and abuse. From blocking imposters on Microsoft Azure and adding anti-scam features to Microsoft Edge, to fighting tech support fraud with new features in Windows Quick Assist, this edition of Cyber Signals takes you inside the work underway and important milestones achieved that protect customers.
Blocked about 1.6 million bot signup attempts per hour.
The evolution of AI-enhanced cyber scams
AI has started to lower the technical bar for fraud and cybercrime actors looking for their own productivity tools, making it easier and cheaper to generate believable content for cyberattacks at an increasingly rapid rate. AI software used in fraud attempts runs the gamut, from legitimate apps misused for malicious purposes to more fraud-oriented tools used by bad actors in the cybercrime underground.
AI tools can scan and scrape the web for company information, helping cyberattackers build detailed profiles of employees or other targets to create highly convincing social engineering lures. In some cases, bad actors are luring victims into increasingly complex fraud schemes using fake AI-enhanced product reviews and AI-generated storefronts, where scammers create entire websites and e-commerce brands, complete with fake business histories and customer testimonials. By using deepfakes, voice cloning, phishing emails, and authentic-looking fake websites, threat actors seek to appear legitimate at wider scale.
According to the Microsoft Anti-Fraud Team, AI-powered fraud attacks are happening globally, with much of the activity coming from China and Europe, specifically Germany due in part to Germany’s status as one of the largest e-commerce and online services markets in the European Union (EU). The larger a digital marketplace in any region, the more likely a proportional degree of attempted fraud will take place.
E-commerce fraud
Fraudulent e-commerce websites can be set up in minutes using AI and other tools requiring minimal technical knowledge. Previously, it would take threat actors days or weeks to stand up convincing websites. These fraudulent websites often mimic legitimate sites, making it challenging for consumers to identify them as fake.
Using AI-generated product descriptions, images, and customer reviews, customers are duped into believing they are interacting with a genuine merchant, exploiting consumer trust in familiar brands.
AI-powered customer service chatbots add another layer of deception by convincingly interacting with customers. These bots can delay chargebacks by stalling customers with scripted excuses and manipulating complaints with AI-generated responses that make scam sites appear professional.
In a multipronged approach, Microsoft has implemented robust defenses across our products and services to protect customers from AI-powered fraud. Microsoft Defender for Cloud provides comprehensive threat protection for Azure resources, including vulnerability assessments and threat detection for virtual machines, container images, and endpoints.
Microsoft Edge features website typo protection and domain impersonation protection using deep learning technology to help users avoid fraudulent websites. Edge has also implemented a machine learning-based Scareware Blocker to identify and block potential scam pages and deceptive pop-up screens with alarming warnings claiming a computer has been compromised. These attacks try to frighten users into calling fraudulent support numbers or downloading harmful software.
Job and employment fraud
The rapid advancement of generative AI has made it easier for scammers to create fake listings on various job platforms. They generate fake profiles with stolen credentials, fake job postings with auto-generated descriptions, and AI-powered email campaigns to phish job seekers. AI-powered interviews and automated emails enhance the credibility of job scams, making it harder for job seekers to identify fraudulent offers.
To prevent this, job platforms should introduce multifactor authentication for employer accounts to make it harder for bad actors to take over legitimate hirers’ listings and use available fraud-detection technologies to catch suspicious content.
Fraudsters often ask for personal information, such as resumes or even bank account details, under the guise of verifying the applicant’s information. Unsolicited text and email messages offering employment opportunities that promise high pay for minimal qualifications are typically an indicator of fraud.
Employment offers that include requests for payment, offers that seem too good to be true, unsolicited offers or interview requests over text message, and a lack of formal communication platforms can all be indicators of fraud.
Tech support scams
Tech support scams are a type of fraud where scammers trick victims into unnecessary technical support services to fix a device or software problems that don’t exist. The scammers may then gain remote access to a computer—which lets them access all information stored on it, and on any network connected to it or install malware that gives them access to the computer and sensitive data.
Tech support scams are a case where elevated fraud risks exist, even if AI does not play a role. For example, in mid-April 2024, Microsoft Threat Intelligence observed the financially motivated and ransomware-focused cybercriminal group Storm-1811 abusing Windows Quick Assist software by posing as IT support. Microsoft did not observe AI used in these attacks; Storm-1811 instead impersonated legitimate organizations through voice phishing (vishing) as a form of social engineering, convincing victims to grant them device access through Quick Assist.
Quick Assist is a tool that enables users to share their Windows or macOS device with another person over a remote connection. Tech support scammers often pretend to be legitimate IT support from well-known companies and use social engineering tactics to gain the trust of their targets. They then attempt to employ tools like Quick Assist to connect to the target’s device.
Quick Assist and Microsoft are not compromised in these cyberattack scenarios; however, the abuse of legitimate software presents risk Microsoft is focused on mitigating. Informed by Microsoft’s understanding of evolving cyberattack techniques, the company’s anti-fraud and product teams work closely together to improve transparency for users and enhance fraud detection techniques.
The Storm-1811 cyberattacks highlight the capability of social engineering to circumvent security defenses. Social engineering involves collecting relevant information about targeted victims and arranging it into credible lures delivered through phone, email, text, or other mediums. Various AI tools can quickly find, organize, and generate information, thus acting as productivity tools for cyberattackers. Although AI is a new development, enduring measures to counter social engineering attacks remain highly effective. These include increasing employee awareness of legitimate helpdesk contact and support procedures, and applying Zero Trust principles to enforce least privilege across employee accounts and devices, thereby limiting the impact of any compromised assets while they are being addressed.
Microsoft has taken action to mitigate attacks by Storm-1811 and other groups by suspending identified accounts and tenants associated with inauthentic behavior. If you receive an unsolicited tech support offer, it is likely a scam. Always reach out to trusted sources for tech support. If scammers claim to be from Microsoft, we encourage you to report it directly to us at https://www.microsoft.com/reportascam.
Building on the Secure Future Initiative (SFI), Microsoft is taking a proactive approach to ensuring our products and services are “Fraud-resistant by Design.” In January 2025, a new fraud prevention policy was introduced: Microsoft product teams must now perform fraud prevention assessments and implement fraud controls as part of their design process.
Recommendations
Strengthen employer authentication: Fraudsters often hijack legitimate company profiles or create fake recruiters to deceive job seekers. To prevent this, job platforms should introduce multifactor authentication and Verified ID as part of Microsoft Entra ID for employer accounts, making it harder for unauthorized users to gain control.
Monitor for AI-based recruitment scams: Companies should deploy deepfake detection algorithms to identify AI-generated interviews where facial expressions and speech patterns may not align naturally.
Be cautious of websites and job listings that seem too good to be true: Verify the legitimacy of websites by checking for secure connections (https) and using tools like Microsoft Edge’s typo protection.
Avoid providing personal information or payment details to unverified sources: Look for red flags in job listings, such as requests for payment or communication through informal platforms like text messages, WhatsApp, nonbusiness Gmail accounts, or requests to contact someone on a personal device for more information.
Using Microsoft’s security signal to combat fraud
Microsoft is actively working to stop fraud attempts using AI and other technologies by evolving large-scale detection models based on AI, such as machine learning, to play defense by learning from and mitigating fraud attempts. Machine learning is the process that helps a computer learn without direct instruction using algorithms to discover patterns in large datasets. Those patterns are then used to create a comprehensive AI model, allowing for predictions with high accuracy.
We have developed in-product safety controls that warn users about potential malicious activity and integrate rapid detection and prevention of new types of attacks.
Our fraud team has developed domain impersonation protection using deep-learning technology at the domain creation stage, to help protect against fraudulent e-commerce websites and fake job listings. Microsoft Edge has incorporated website typo protection, and we have developed AI-powered fake job detection systems for LinkedIn.
Microsoft Defender Smartscreen is a cloud-based security feature that aims to prevent unsafe browsing habits by analyzing websites, files, and applications based on their reputation and behavior. It is integrated into Windows and the Edge browser to help protect users from phishing attacks, malicious websites, and potentially harmful downloads.
Furthermore, Microsoft’s Digital Crimes Unit (DCU) partners with others in the private and public sector to disrupt the malicious infrastructure used by criminals perpetuating cyber-enabled fraud. The team’s longstanding collaboration with law enforcement around the world to respond to tech support fraud has resulted in hundreds of arrests and increasingly severe prison sentences worldwide. The DCU is applying key learnings from past actions to disrupt those who seek to abuse generative AI technology for malicious or fraudulent purposes.
Quick Assist features and remote help combat tech support fraud
To help combat tech support fraud, we have incorporated warning messages to alert users about possible tech support scams in Quick Assist before they grant access to someone approaching them purporting to be an authorized IT department or other support resource.
Windows users must read and click the box to acknowledge the security risk of granting remote access to the device.
Microsoft has significantly enhanced Quick Assist protection for Windows users by leveraging its security signal. In response to tech support scams and other threats, Microsoft now blocks an average of 4,415 suspicious Quick Assist connection attempts daily, accounting for approximately 5.46% of global connection attempts. These blocks target connections exhibiting suspicious attributes, such as associations with malicious actors or unverified connections.
Microsoft’s continual focus on advancing Quick Assist safeguards seeks to counter adaptive cybercriminals, who previously targeted individuals opportunistically with fraudulent connection attempts, but more recently have sought to target enterprises with more organized cybercrime campaigns that Microsoft’s actions have helped disrupt.
Our Digital Fingerprinting capability, which leverages AI and machine learning, drives these safeguards by providing fraud and risk signals to detect fraudulent activity. If our risk signals detect a possible scam, the Quick Assist session is automatically ended. Digital Fingerprinting works by collecting various signals to detect and prevent fraud.
For enterprises combating tech support fraud, Remote Help is another valuable resource for employees. Remote Help is designed for internal use within an organization and includes features that make it ideal for enterprises.
By reducing scams and fraud, Microsoft aims to enhance the overall security of its products and protect its users from malicious activities.
Consumer protection tips
Fraudsters exploit psychological triggers such as urgency, scarcity, and trust in social proof. Consumers should be cautious of:
Impulse buying—Scammers create a sense of urgency with “limited-time” deals and countdown timers.
Trusting fake social proof—AI generates fake reviews, influencer endorsements, and testimonials to appear legitimate.
Clicking on ads without verification—Many scam sites spread through AI-optimized social media ads. Consumers should cross-check domain names and reviews before purchasing.
Ignoring payment security—Avoid direct bank transfers or cryptocurrency payments, which lack fraud protections.
Job seekers should verify employer legitimacy, be on the lookout for common job scam red flags, and avoid sharing personal or financial information with unverified employers.
Verify employer legitimacy—Cross-check company details on LinkedIn, Glassdoor, and official websites to verify legitimacy.
Notice common job scam red flags—If a job requires upfront payments for training materials, certifications, or background checks, it is likely a scam. Unrealistic salaries or no-experience-required remote positions should be approached with skepticism. Emails from free domains (such as johndoehr@gmail.com instead of hr@company.com) are also typically indicators of fraudulent activity.
Be cautious of AI-generated interviews and communications—If a video interview seems unnatural, with lip-syncing delays, robotic speech, or odd facial expressions, it could be deepfake technology at work. Job seekers should always verify recruiter credentials through the company’s official website before engaging in any further discussions.
Avoid sharing personal or financial information—Under no circumstances should you provide a Social Security number, banking details, or passwords to an unverified employer.
Microsoft is also a member of the Global Anti-Scam Alliance (GASA), which aims to bring governments, law enforcement, consumer protection organizations, financial authorities and providers, brand protection agencies, social media, internet service providers, and cybersecurity companies together to share knowledge and protect consumers from getting scammed.
Recommendations
Remote Help: Microsoft recommends using Remote Help instead of Quick Assist for internal tech support. Remote Help is designed for internal use within an organization and incorporates several features designed to enhance security and minimize the risk of tech support hacks. It is engineered to be used only within an organization’s tenant, providing a safer alternative to Quick Assist.
Digital Fingerprinting: This identifies malicious behaviors and ties them back to specific individuals. This helps in monitoring and preventing unauthorized access.
Blocking full control requests: Quick Assist now includes warnings and requires users to check a box acknowledging the security implications of sharing their screen. This adds a layer of helpful “security friction” by prompting users who may be multitasking or preoccupied to pause to complete an authorization step.
Kelly Bissell: A cybersecurity pioneer combating fraud in the new era of AI
Kelly Bissell’s journey into cybersecurity began unexpectedly in 1990. Initially working in computer science, Kelly was involved in building software for healthcare patient accounting and operating systems at Medaphis and Bellsouth, now AT&T.
His interest in cybersecurity was sparked when he noticed someone logged into a phone switch attempting to get free long-distance calls and traced the intruder back to Romania. This incident marked the beginning of Kelly’s career in cybersecurity.
“I stayed in cybersecurity hunting for bad actors, integrating security controls for hundreds of companies, and helping shape the NIST security frameworks and regulations such as FFIEC, PCI, NERC-CIP,” he explains.
Currently, Kelly is Corporate Vice President of Anti-Fraud and Product Abuse within Microsoft Security. Microsoft’s fraud team employs machine learning and AI to build better detection code and understand fraud operations. They use AI-powered solutions to detect and prevent cyberthreats, leveraging advanced fraud detection frameworks that continuously learn and evolve.
“Cybercrime is a trillion-dollar problem, and it’s been going up every year for the past 30 years. I think we have an opportunity today to adopt AI faster so we can detect and close the gap of exposure quickly. Now we have AI that can make a difference at scale and help us build security and fraud protections into our products much faster.”
Previously Kelly managed the Microsoft Detection and Response Team (DART) and created the Global Hunting, Oversight, and Strategic Triage (GHOST) team that detected and responded to attackers such as Storm-0558 and Midnight Blizzard.
Prior to Microsoft, during his time at Accenture and Deloitte, Kelly collaborated with companies and worked extensively with government agencies like the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Bureau of Investigation, where he helped build security systems inside their operations.
His time as Chief Information Security Officer (CISO) at a bank exposed him to addressing both cybersecurity and fraud, leading to his involvement in shaping regulatory guidelines to protect banks and eventually Microsoft.
Kelly has also played a significant role in shaping regulations around the National Institute of Standards and Technology (NIST) and Payment Card Industry (PCI) compliance, which helps ensure the security of businesses’ credit card transactions, among others.
Internationally, Kelly played a crucial role in helping establish agencies and improve cybersecurity measures. As a consultant in London, he helped stand up the United Kingdom’s National Cyber Security Centre (NCSC), which is part of the Government Communications Headquarters (GCHQ), the equivalent of CISA. Kelly’s efforts in content moderation with several social media companies, including YouTube, were instrumental in removing harmful content.
That’s why he’s excited about Microsoft’s partnership with GASA. GASA brings together governments, law enforcement, consumer protection organizations, financial authorities, internet service providers, cybersecurity companies, and others to share knowledge and define joint actions to protect consumers from getting scammed.
“If I protect Microsoft, that’s good, but it’s not sufficient. In the same way, if Apple does their thing, and Google does their thing, but if we’re not working together, we’ve all missed the bigger opportunity. We must share cybercrime information with each other and educate the public. If we can have a three-pronged approach of tech companies building security and fraud protection into their products, public awareness, and sharing cybercrime and fraudster information with law enforcement, I think we can make a big difference,” he says.
Next steps with Microsoft Security
To learn more about Microsoft Security solutions, visit our website. Bookmark the Security blog to keep up with our expert coverage on security matters. Also, follow us on LinkedIn (Microsoft Security) and X (@MSFTSecurity) for the latest news and updates on cybersecurity.
Methodology: Microsoft platforms and services, including Azure, Microsoft Defender for Office, Microsoft Threat Intelligence, and Microsoft Digital Crimes Unit (DCU), provided anonymized data on threat actor activity and trends. Additionally, Microsoft Entra ID provided anonymized data on threat activity, such as malicious email accounts, phishing emails, and attacker movement within networks. Additional insights are from the daily security signals gained across Microsoft, including the cloud, endpoints, the intelligent edge, and telemetry from Microsoft platforms and services. The $4 billion figure represents an aggregated total of fraud and scam attempts against Microsoft and our customers in consumer and enterprise segments (in 12 months).
KUALA LUMPUR, Malaysia, April 16, 2025 (GLOBE NEWSWIRE) — CBL International Limited (NASDAQ: BANL) (the “Company” or “CBL”), the listing vehicle of Banle Group (“Banle” or “the Group”), a leading marine fuel logistic company in the Asia-Pacific region, today announced its annual financial results for the year ended December 31, 2024.
Financial Performance Overview
The company reported consolidated revenue of $592.52 million for the year ended December 31, 2024, marking a 35.9% increase from $435.90 million in 2023. This growth was primarily driven by a 38.1% increase in sales volume, supported by the addition of new customers during the year, expansion of our supply network to cover more ports, and a broader customer base that now includes bulk carriers and oil and gas tankers in addition to container liner operators.
Due to challenging market conditions, the Company reported a net loss of $3.87 million in 2024, compared to a net income of $1.13 million in 2023, mainly attributed to a 25.5% decrease in gross profit to $5.37 million in 2024 from $7.21 million in 2023 and a 56.8% rise in operating expenses to $8.70 million in 2024 from $5.55 million in 2023. The Company adopted a volume-driven growth strategy that involved offering more competitive pricing in a market characterized by intensified competition and pricing pressure. While this approach supported increased sales volume and market share, it also contributed to narrower profit margins.
In addition to reduced gross margins, the net loss was impacted by increased expenses for business expansion, biofuel operation, additional expenses to enhance ESG, and a rise in interest expenses. These were partially offset by a reduction in income tax expenses. The financial outcome reflects both the dynamic nature of the bunkering industry and the Company’s ongoing investment in client base development and geographic growth, which are expected to enhance long-term positioning as market conditions normalize.
Earnings per share (EPS) reflected this, decreasing to $(0.136) in 2024 from $0.045 in 2023. Cash and cash equivalents increased by 8.3% to $8.02 million as of December 31, 2024 from $7.40 million as of December 31, 2023.
Business Expansion in Challenging Times
CBL International’s operational expansion was a key focus in 2024, particularly in a challenging industry environment marked by geopolitical tensions, such as the Red Sea crisis and broader Middle East tensions. The company grew its service network from 36 ports at the time of its IPO in March 2023 to over 60 ports by year-end 2024, covering Asia Pacific, Europe, Africa, and Central America. Revenue growth year-on-year was notable across China, Hong Kong, Malaysia, Singapore, and South Korea.
Key new ports included Mauritius, Panama, and India, enhancing its global reach. This expansion was supported by servicing nine of the world’s top 12 container shipping lines, representing nearly 60% of global container fleet capacity. The Company’s European expansion focused on strengthening cross-regional service offerings for Euro–Asia trade routes. Growth was supported by a stronger presence in the Amsterdam-Rotterdam-Antwerp (ARA) region and a new Ireland office established in late 2023, enhancing local sourcing capabilities.
Customer diversification was another priority, with the share of non-container liners in total revenue increased, and sales concentration among the top five customers declined in fiscal year 2024.
A significant highlight was the company’s push towards sustainability, with biofuel sales surging by 628.8% and volume by 603.0%. The introduction of B24 biofuel (76% fossil fuel, 24% used cooking oil methyl ester) in Hong Kong, China, and Malaysia reduced greenhouse gas emissions by 20%, supported by ISCC EU and ISCC Plus certifications secured in 2023. This aligns with global trends towards greener shipping solutions and positions CBL as a leader in sustainable fuel logistics.
Strategically, CBL enhanced its IT systems, implementing real-time order tracking, data analytics, and workflow automation to improve efficiency. Credit risk management was strengthened, and working capital management improved with increased factoring facilities and a cash balance rise, navigating macroeconomic challenges through pricing strategies and port network adjustments. Additionally, CBL expanded its funding sources by accessing capital markets, such as private placement, increasing financial flexibility to support growth initiatives.
Bullish Outlook and Customer Loyalty Strategy
Despite the net loss, CBL’s management remains optimistic about the future, viewing current industry challenges as an opportunity to build resilience and enhance customer loyalty. While prudently evaluating the impact of the latest U.S. tariff policy, among other macro incidents such as geopolitical tensions, regulatory changes, and shifting global trade dynamics, on the economy and the bunkering sector, CBL believes its broad global network, primarily focused on intra-Asia and Euro-Asia trade routes, helps mitigate potential adverse effects. Since the Company has no operation on U.S. ports, the impact of such policies may be limited in the near future.
The Company’s strategic expansion of ports, diversification of its client base, and commitment to sustainable initiatives are designed to position it for growth when market conditions improve. By investing in new ports and expanding relationships with key industry players, CBL aims to secure long-term partnerships that will strengthen its market position as global trade stabilizes and profitability improves.
Management Commentary and Future Outlook
Dr. Teck Lim Chia, Chairman and CEO of CBL International Limited, stated, “We are confident in our strategy to expand our service network, maximize sales volume and explore sustainable offerings, even in these challenging times. Our investments in new ports, diversified clients, and sustainable fuels are building a foundation for future growth. We believe that by demonstrating our capabilities at present, we will earn customer loyalty that will yield substantial benefits as the market recovers, positioning CBL International for significant success in the years ahead.”
Looking ahead, CBL remains focused on expanding its market presence, particularly in biofuels, and enhancing its global supply network. The company is committed to driving operational efficiency and delivering sustainable growth.
Webcast Details
CBL International Limited (Nasdaq: BANL) cordially invites you to participate in a webcast to discuss its financial results for the year ended December 31, 2024.
About the Banle Group
CBL International Limited (Nasdaq: BANL) is the listing vehicle of Banle Group, a reputable marine fuel logistic company based in the Asia Pacific region that was established in 2015. We are committed to providing customers with one-stop solution for vessel refueling, which is referred to as bunkering facilitator in the bunkering industry. We facilitate vessel refueling mainly through local physical suppliers in over 60 major ports covering Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Panama, the Philippines, Singapore, Taiwan, Thailand, Turkey and Vietnam, as of 16 April, 2025. The Group actively promotes the use of sustainable fuels and is awarded with the ISCC EU and ISCC Plus certifications.
Certain statements in this announcement are not historical facts but are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan,” “should,” “would,” “plan,” “future,” “outlook,” “potential,” “project” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and projections of market opportunity. They involve known and unknown risks and uncertainties and are based on various assumptions, whether or not identified in this press release and on current expectations of BANL’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of BANL. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, fuel prices and tariffs, market, financial, political and legal conditions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
CBL INTERNATIONAL LIMITED (Incorporated in Cayman Islands with limited liabilities)
Source: United States Senator for Washington Maria Cantwell
04.16.25
Cantwell Joins WA Small Business Owners at Port of Seattle to Explain Harms of Trump Trade Wars
Trump’s chaotic tariffs drive up costs for local companies and threatens to put them out of business; “Congress needs to get back in the game,” says Cantwell; her bipartisan bill would reassert Congressional role in U.S. trade policy
SEATTLE – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, joined nine local business owners and leaders at the Port of Seattle to push back against the Trump administration’s tariffs-first trade policy.
“These businesses here today are reminding us what we already should know: that this kind of tariff policy disrupts an integrated economy, hurts small businesses, and basically disrupts what is an important opportunity for the United States to grow more jobs for the future,” said Sen. Cantwell. “Building alliances and [strengthening] our innovation economy is what we should be doing.”
“In my 32 years of designing and manufacturing KAVU has survived tough times, but nothing close to this,” said Barry Barr, CEO of KAVU. “Due to the extreme spikes in prices, we are expecting that many if not all of our 2,000 independent outdoor retailers … will cancel their orders, leaving us with no sales and at the precipice of shutting down.”
“I never thought geopolitics would get in the way of making delicious pizza, yet here were are,” said Joe Fugere, CEO of Tutta Bella. “People in the United States should not have to travel overseas to enjoy the religious experience of great Italian pizza. We can have it right here at home. But only if we’re smart about how we unlock access to the world’s best products.”
“Last month we brought in a container with a value of about $200,000, and we had to pay an extra $20,000 to bring that in with the 10% [tariff],” said Jeff Demir, COO of SwaddleDesigns. “This month we’re bringing in another container, that container will cost us an extra $40,000 because the China tariffs went from 10% to 20%. … We have a container that’s right now sitting in China ready to ship, that container would cost us $300,000 of extra tariffs given the 145% [tariff]. Obviously that container is going to stay in China and it’s not going to be brought over here. Our company will have to operate with the product that we have until this gets resolved.”
Also appearing at today’s event were: Northwest Seaport Alliance and Northwest Seaport Alliance Co-Chair and Port of Tacoma Commissioner John McCarthy; Port of Seattle Commissioner Sam Cho; Gordon Bluechel, CEO of Access Laser; Chris Stone, Deputy Director of the Washington State Wine Commission; Blas Alfaro, Partner at Fulcrum Coffee Roasters; and Molly Neitzel, CEO of Molly Moon’s.
Sen. Cantwell recently introduced the bipartisan Trade Review Act of 2025 to reaffirm Congress’ key role in setting and approving U.S. trade policy, and reestablish limits on the president’s ability to impose unilateral tariffs. Since the introduction, Sen. Cantwell has appeared on CNN International, CNBC , CBS’s Face the Nation, MSNBC’s All In with Chris Hayes, MSNBC’s The Last Word with Lawrence O’Donnell, to discuss the bill.
Sen. Cantwell’s bill has since picked up 12 additional cosponsors – an equal mix of Republicans and Democrats – and been endorsed by multiple major U.S. business organizations, including the National Retail Federation, which is the largest retail trade association in the world. Last week, a bipartisan House companion bill was introduced.
In Washington state, two out of every five jobs are tied to trade and trade-related industries. More information about how those tariffs will affect consumers and businesses in the State of Washington can be found HERE.
For the past three months, President Trump has been sowing economic chaos across the country with unpredictable and ever-changing tariff announcements. His back-and-forth announcements and actions, which have whipsawed American businesses and consumers, as well as close neighbors and allies, include:
On January 31 — citing punishment for failing to crack down on fentanyl trafficking — the Trump administration announced plans to impose a 25% tax on many goods imported into the U.S. from Canada and Mexico and a 10% tax on goods imported from China, then abruptly postponed those tariffs.
In February, he doubled down, announcing an additional 25% tax on all steel and aluminum imports.
At 12:01 a.m. ET on March 4, President Trump’s long-promised 25% tariffs on goods from Mexico and Canada and 10% tariff increase on goods from China took effect, causing stock prices in the United States to plummet.
Then, on March 5, he announced that automobiles from Canada and Mexico would be exempt from his tariffs for one month.
The morning of March 6, he announced that he would suspend the tariffs for some products from Mexico. Then, later that same afternoon, he announced he was suspending most new tariffs on products from both Mexico and Canada until April 2.
On March 11, Trump threatened to double tariffs on Canadian steel and aluminum – increasing them to 50% – before reversing himself later the same day.
On March 13, he threatened 200% tariffs on alcoholic products from the European Union, including all wine and Champagne.
On March 27, he announced plans to impose a 25% tax on all imported sedans, SUVs, crossovers, minivans, cargo vans, and light trucks, as well as some auto parts, beginning on April 2.
On March 29, President Trump said, “I couldn’t care less,” if automakers raise the price of cars in response to his tariffs.
On April 2, he announced a “National Economic Emergency,” and signed an executive order declaring a 10% minimum baseline tariff on all countries as well as additional tariffs on nearly 60 countries.
On April 7, he threatened to impose an additional 50% tariff on China.
On April 9, he announced a rollback of his April 2 tariffs down to the 10% baseline across the board, with the exception of China, which he increased to 125%.
On April 11, the administration announced that electronics, including smartphones and laptops, would be exempt from the 125% rate.
Video of today’s press conference is HERE; photos are HERE; video of Sen. Cantwell’s remarks is HERE; audio of Sen. Cantwell’s remarks is HERE; and a transcript of Sen. Cantwell’s remarks is HERE.
Source: United States Senator Tommy Tuberville (Alabama)
AUBURN – U.S. Senator Tommy Tuberville (R-AL) penned an op-ed in Newsweek about how President Trump’s “Liberation Day” tariffs are already delivering results for Alabama manufacturers, businesses, workers, and producers.
Read excerpts from the piece below or read the full piece here.
“It’s been two weeks since President Donald Trump announced tariffs on more than 180 countries and territories that have been ripping us off for decades. A full-blown meltdown followed that day. But those of us who have been following President Trump for a long time knew better than to panic. The president is a master negotiator—and if there’s one thing he understands, it’s how to create leverage.
That leverage is clearly working, as more than 75 countries have come crawling to the United States begging to negotiate better trade deals in exchange for the president lowering tariffs. Only Democrats and their friends in the media would find a reason to be upset about that. Sadly, I’m convinced that many Democrats and woke media would rather see America fail than watch us succeed with President Trump. It’s clear that the president is using tariffs as a bargaining chip to level the playing field with our trade partners. Trump is a skilled dealmaker, and his strategy is already delivering results for the American people.
President Trump understands that America boasts the strongest economy in the world—and other countries would fall apart without trade deals with the United States. But President Trump also, like me, believes that America has been taken advantage of by unfair trade deals for decades.
The truth is, the international trade system has been stacked against the United States for years. Since 1976, $20 trillion of American wealth has been transferred into foreign hands. That’s more than 60 percent of the U.S. GDP in 2024. Can you believe that? This country is getting robbed in broad daylight.
Countries like Vietnam and India are prime examples of ‘trade partners’ who have been ripping us off. In Alabama, we have seen some of the effects firsthand. For years, Vietnamese and Indian exporters have been adulterating honey with cane, rice, and corn sweeteners before dumping it on the U.S. domestic market. Additionally, Vietnam has been dumping billions of dollars’ worth of catfish from sewage-polluted water into U.S. markets, while India is doing the same with shrimp—flooding the markets and driving down prices for our high-quality domestic products. Alabama’s honey, catfish, and shrimp producers have had a hard time competing as a result.
With simply the threat of President Trump imposing various tariff rates, Vietnam and India are crawling to the negotiating table. The end result will hopefully give Alabama producers a fair shot to compete. Vietnam and India aren’t the only countries caving to President Trump, however. More than 75 have announced their intention to negotiate with the U.S., leading President Trump to announce a 90-day pause on most tariffs, with a 10 percent blanket duty on almost all U.S. imports. The president’s plan is unfolding just as he expected.
China is a different beast. When President Trump levied heavy tariffs on China, he made it clear that if Beijing retaliated, the tariffs will escalate. Predictably, China didn’t back down—it imposed steep retaliatory tariffs on the U.S. But if China thinks it can intimidate President Trump, it should think again. China has a choice here—it can either renegotiate a fair trade deal, or it can pay the piper. My money is on President Trump to win in the end.”
MORE:
Tuberville Celebrates President Trump’s “Liberation Day” on Senate Floor
ICYMI: Tuberville Joins Kudlow to Discuss How President Trump’s Tariffs Strategy is Working for Alabama
Yellowhammer News: Tuberville says tariffs will help Alabama’s catfish farmers
ICYMI: Tuberville in Yellowhammer: President Trump’s tariffs are Making America Great Again
Tuberville Praises President Trump for Making Tariffs Great Again
Newsmax: Sen. Tuberville: Cut Spending, Boost Manufacturing to Cut Debt
Tuberville Speaks on Importance of Boosting U.S. Economy to Help Struggling Seniors
1819 News: ‘A big relief’: Tuberville claims victory, says Alabama’s catfish industry safe from Biden administration proposal
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.
Michael McMahon, a Retired New York City Police Department (NYPD) Sergeant, and Two Co-Conspirators Were First Defendants Convicted After a U.S. Trial in Connection with Repatriation Program ‘Operation Fox Hunt’
Today, in federal court in Brooklyn, New York, Michael McMahon, 57, of Mahwah, New Jersey, was sentenced to 18 months in prison and ordered to pay an $11,000 fine for acting as an illegal agent of the government of the People’s Republic of China (PRC) and interstate stalking and conspiracy to commit the same, for his participation in a scheme to coerce repatriation of a U.S. resident to the PRC as part of its international repatriation effort known as “Operation Fox Hunt.” McMahon and co-defendants Zhu Yong, 68, of East Elmhurst, New York, and Congying Zheng, 29, of Brooklyn, were convicted by a federal jury in June 2023 following a three-week trial. In January 2025, Zhu and Zheng were sentenced respectively to 24 months and 16 months in prison.
As proven at trial, between approximately 2016 and 2019, the defendants and their co-conspirators participated in an international campaign to threaten, harass, surveil, and intimidate John Doe #1 and his family in order to force him and his wife, Jane Doe #1, to return to the PRC to face purported corruption charges. Beginning in 2012, John Doe #1 and Jane Doe #1 had been targeted for repatriation as part of the PRC’s transnational repression programs known as “Operation Fox Hunt” and “Operation Sky Net.” John Doe #1 and his family had accordingly sought to keep their address out of public records.
Zhu hired McMahon, a retired NYPD sergeant working as a private investigator, to locate John Doe #1. McMahon obtained sensitive information about John Doe #1, which he then reported back to Zhu and others, including a PRC police officer. McMahon also conducted surveillance outside the New Jersey home of John Doe #1’s relative and provided Zhu and PRC officials with detailed reports of what he observed. The operation was supervised and directed by several PRC officials, including a PRC police officer and a PRC prosecutor.
As McMahon knew, the operation was intended not only to locate John Doe #1, but to coerce him to return to the PRC by exerting pressure on his family members. In April 2017, PRC officials threatened to jail John Doe #1’s sister, who lived in the PRC, in order to coerce John Doe #1’s then-82-year-old father to travel from the PRC to their relative’s home in New Jersey. John Doe #1’s father, who had recently suffered a brain hemorrhage, was so frail that a doctor accompanied him for the trip. McMahon followed John Doe #1’s father from the relative’s New Jersey home, and, by doing so, was able to learn John Doe #1’s address. McMahon immediately provided this information to a PRC operative.
On Sept. 4, 2018, Zheng and another co-conspirator drove to the New Jersey residence of John Doe #1 and Jane Doe #1 – at the address that McMahon had provided – where they pounded on the front door, attempted to enter the house, and then peered through the windows in the back of the home. They left a note on the front door informing John Doe #1 that his “wife and children will be okay” if John Doe #1 surrendered himself to face a ten-year prison term in the PRC.
McMahon knew that the subjects of his investigation were wanted by the PRC government, a fact that he texted about with another investigator he contracted to help him. Following his arrest, McMahon acknowledged knowing that his employers wanted to get the victim back to China “so they could prosecute him.” After providing the victims’ address, McMahon told his surveillance partner that he was “waiting for a call” to find out what to do next. McMahon’s partner responded, “Yeah. From NJ State Police about an abduction,” to which McMahon responded “Lol.” McMahon later suggested to a PRC co-conspirator that they “harass” John Doe #1 by “[p]ark[ing] outside his home and let[ting] him know we are there.” McMahon took other investigative steps designed to harass the victims, such as researching their daughter’s university residence and college major. McMahon was paid more than $19,000 in total for his role in the illegal repatriation scheme. In an apparent attempt to conceal the source, McMahon deposited payments from his PRC clients into his son’s bank account, the only time he had done so with client payments.
Previously, three co-defendants pleaded guilty in connection with their roles in the PRC-directed harassment and intimidation campaign. They are awaiting sentencing.
Sue J. Bai, head of the Justice Department’s National Security Division, U.S. Attorney John J. Durham for the Eastern District of New York, and Assistant Director Roman Rozhavsky of the FBI’s Counterintelligence Division made the announcement.
The FBI New York Field Office investigated the case, with valuable assistance provided by the Department of State’s Diplomatic Security Service.
Assistant U.S. Attorneys Meredith A. Arfa and Irisa Chen for the Eastern District of New York and Trial Attorney Christine A. Bonomo of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case. Paralegal Specialist Rebecca Roth for the Eastern District of New York provided valuable assistance.
The FBI has created a website for victims to report efforts by foreign governments to stalk, intimidate, or assault people in the United States. If you believe that you are or have been a victim of transnational repression, please visit the FBI’s website.