Tag Archives: asia-pacific economic cooperation

Hegseth Revisits Vietnam and Korea, Sites of America’s Two Bloodiest Wars Since World War II

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Secretary Pete Hegseth is revisiting some of the scenes of America’s two bloodiest wars since World War II, buttressing defenses against the same enemies—the Chinese and the Russians—with whom Americans fought and died in Vietnam and Korea.

In South Korea, Mr. Hegseth is focusing on a highly sensitive topic: transferring operational control to the top Korean commander in time of war from the American general who commands U.S. Forces Korea as well as the Combined Forces Command and the UN Command. American and Korean negotiators are addressing the trickier aspects of this transfer, while the Americans press the South to increase defense spending and contribute more to the costs of keeping 28,500 American troops on bases there, as President Trump demanded in his first term.

Mr. Hegseth got a first-hand taste of the standoff on the Korean peninsula after spending two days in Vietnam discussing the shipment of heavy arms for the Vietnamese Communists, who fought the Americans and their South Vietnamese allies using Chinese and Soviet weapons between 1965 and the American withdrawal in 1973.

Just after flying to Osan Air Base, south of Seoul, from Hanoi, Mr. Hegseth headed to the Demilitarized Zone (DMZ) that has divided North and South Korea since the end of the Korean War. There, he was greeted by South Korea’s defense minister, Ahn Gyu-back, who escorted him to the Joint Security Area (JSA)—the site where the war truce was signed in July 1953.

Mr. Ahn noted that Mr. Hegseth had called the JSA “the frontline of division and a place of dialogue.” This carefully constructed remark acknowledged the importance of the JSA as the venue for negotiations when President Trump met North Korean leader Kim Jong-un for the third time in June 2019. It was also at the JSA that Mr. Kim met former South Korean president Moon Jae-in in 2018, during a period of hopeful North-South rapprochement.

For Mr. Hegseth, the visit to the DMZ was typical of visits made by thousands of sightseers, but it also symbolized the American-Korean alliance amid deepening North-South confrontation. Currently, Mr. Kim refuses to meet with anyone from the South, which he has declared the “enemy” while tightening his alliance with Russia’s president. North Korea has sent thousands of troops and steady shipments of arms to Russian forces in Ukraine.

Mr. Hegseth is urging South Korea to invest more in its own defense and possibly increase its share of the costs for American troops and bases, which currently stand at $1.1 billion a year under President Biden. During his first term, President Trump demanded $5 billion annually but has not repeated that figure during his second term. Trump also did not mention defense during his recent visit to Pusan, where he met President Xi Jinping ahead of the Asia-Pacific Economic Cooperation (APEC) conference in nearby Gyeongju.

After meeting other defense ministers in Kuala Lumpur on the sidelines of the Association of Southeast Asian Nations (ASEAN) summit, Mr. Hegseth flew to Hanoi. There, he discussed selling warplanes and other arms in meetings with Vietnam’s leader To Lam, general secretary of the ruling Communist Party, as well as with Vietnam’s president Luong Cuong and defense minister General Phan Van Giang.

Mr. Hegseth is believed to have discussed the sale of aircraft—including transport planes and helicopters—to a regime that has moved much closer to America in the 30 years since Hanoi established diplomatic relations with Washington, two decades after the Vietnam War ended in 1975.

During the Vietnam War, Russia supplied Hanoi with heavy ammunition, including short-range missiles that shot down numerous American warplanes, while China provided rifles and machine guns. The legacy of Vietnam weighed heavily on Mr. Hegseth’s visit.

As a symbol of regretful remembrance, he “returned” to Vietnam some souvenirs belonging to a deceased Communist soldier, including a belt, a knife, and a leather box. Mr. Pham, a Vietnamese official, in turn gave Mr. Hegseth identification cards of two American soldiers.

More significantly, they discussed measures to combat Agent Orange, which was sprayed over vast stretches of jungle, as well as ongoing efforts to search for missing American soldiers.
https://www.nysun.com/article/hegseth-revisits-vietnam-and-korea-sites-of-americas-two-bloodiest-wars-since-world-war-ii

Trump Criticizes Fed Chair Powell Over Interest Rate Policy

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**President Trump Criticizes Federal Reserve Chair Jerome Powell at Asia-Pacific Economic Cooperation Summit**

On October 29, 2025, President Donald Trump openly criticized Federal Reserve Chair Jerome Powell during the Asia-Pacific Economic Cooperation (APEC) summit held in South Korea. Trump ridiculed the Fed’s interest rate policies, highlighting ongoing tensions that could influence U.S. economic strategies and impact market confidence—particularly in interest-sensitive assets such as cryptocurrencies.

### Trump Mocks Powell: Calls for Faster Rate Cuts

Speaking at the APEC summit, Trump labeled Jerome Powell as “Jerome ‘Too Late’ Powell,” a sharp critique of the Fed chair’s handling of interest rate cuts. His remarks drew laughter from the audience and underscored his frustration with what he perceives as the slow pace of monetary policy adjustments.

Trump emphasized his insistence that the Federal Reserve keep interest rates low despite inflation risks. He confidently predicted that the U.S. economy will achieve 4% growth in early 2026—a forecast significantly more optimistic than the median economist predictions.

“We will not let the Fed raise interest rates because they are worried about inflation three years from now,” Trump declared, reinforcing his stance against the Fed’s cautious approach.

### Crypto Markets Watch Fed Moves Amid Rate Debate

Historically, President Trump’s public criticisms of the Federal Reserve have triggered short-term market volatility and sparked debates regarding the stability of the U.S. dollar. Such debates have indirectly fueled interest in cryptocurrencies as alternative stores of value.

As of now, Bitcoin (BTC) is priced at $113,069.26, according to CoinMarketCap. The cryptocurrency boasts a market capitalization of $2.25 trillion and maintains a market dominance of 59.22%. With a maximum supply capped at 21 million and a circulating supply of approximately 19.94 million BTC, the digital asset experienced a slight decline of 0.51% in the last 24 hours.

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Stay tuned for more updates on how Federal Reserve policies and global economic developments continue to shape market dynamics and investor sentiment.
https://bitcoinethereumnews.com/tech/trump-criticizes-fed-chair-powell-over-interest-rate-policy/?utm_source=rss&utm_medium=rss&utm_campaign=trump-criticizes-fed-chair-powell-over-interest-rate-policy

Trump has begun Asia trip with major trade deal and openness to meeting Kim Jong Un

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Trump then traveled to Japan on Monday to finalize a trade deal. Upon arriving, he shook hands with Emperor Naruhito. He is expected to meet with Japan’s newly elected prime minister, Sanae Takaichi, later on. Committing to a trade deal with the U.S. would be a monumental moment for the start of her term.

Takaichi, a staunch conservative and the first female prime minister of Japan, has drawn comparisons to the late Prime Minister Shinzo Abe, who was a close friend of Trump during his first term. Reminiscing about his friendship with Abe, the president wished Takaichi well in her new job.

“I hear phenomenal things,” Trump told reporters on Air Force One. “She was a great ally and friend of Shinzo Abe, who was my friend.”

“I know they were very close, and I think philosophically they were close, which is good,” he said. “That really helps Japan and the United States. I think she’s going to be great.”

Trump will depart on Wednesday for South Korea, the last planned stop of his three-nation tour. While there, he will discuss the possibility of finalizing a trade deal with Chinese President Xi Jinping.

Their meeting, which comes one day before the start of the Asia-Pacific Economic Cooperation Summit, was previously expected to be scrapped after Trump threatened an additional 100% tariff by November 1 in response to China’s export controls on rare earth minerals.

Trump suggested he would skip the meeting, but once trade tensions eased, the meeting remained on schedule. Treasury Secretary Scott Bessent confirmed on Sunday that the U.S. and China are expected to agree on a trade deal “framework” that will avoid the 100% tariff.

Trump said he is optimistic the U.S. will “come away with a deal” following his meeting with Xi. He also hopes to visit Beijing in the near future and suggested Xi could visit Washington, D.C., or his Mar-a-Lago home in Florida.

Regarding the possibility of meeting with Kim Jong Un, Trump remains open to the idea, partly because it would be easy to add to his schedule, given that South Korea is his last stop.

“I’d love to meet with him, if he’d like to meet,” he said. “I got along great with Kim Jong Un. I liked him, he liked me.” The two have met three times in person.

**TRUMP INKS TRADE DEALS ON ASIA TRIP, WITH US-CHINA AGREEMENT CLOSE AHEAD OF XI MEETING**

At the beginning of his diplomatic tour, Trump made a pit stop in the Middle East and brought the emir of Qatar and the country’s prime minister onto Air Force One. Trump said it was a “great honor” to host the Qatari leaders.

The appearance followed the signing of the peace deal between Israel and Hamas this month. Because Qatar played a mediating role in ending the conflict, Trump thanked the nation’s leaders.
https://www.washingtonexaminer.com/news/white-house/3864631/trump-begins-asia-trip-major-trade-deal-openness-meeting-kim-jong-un/

Asian shares gain as Trump says he expects a trade deal with China

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**Asian Shares Rally as U.S. Futures Jump; Japan’s Nikkei 225 Tops 50,000 for the First Time**

*BANGKOK (AP)* — Asian shares surged and U.S. futures climbed on Monday, buoyed by strong performances from Japan’s benchmark Nikkei 225, which surpassed the 50,000 mark for the first time in history. Positive developments in trade relations between the U.S., China, and other major trading partners contributed to the upbeat market sentiment.

U.S. President Donald Trump visited Malaysia for a summit with Southeast Asian nations, where he reached preliminary trade agreements with Malaysia, Thailand, Cambodia, and Vietnam. Meanwhile, a trade deal between the United States and China appeared closer to fruition. Officials from both of the world’s largest economies announced on Sunday that they had reached an initial consensus, setting the stage for Trump and Chinese leader Xi Jinping to work toward finalizing the deal during a high-stakes meeting later in the week.

“This isn’t just photo-op diplomacy. Behind the showmanship, Washington and Beijing’s top trade lieutenants have quietly mapped out a framework that might, just might, keep the world’s two largest economies from tearing up the field again,” said Stephen Innes of SPI Asset Management in a commentary.

Following Malaysia, Trump was scheduled to visit Japan before concluding his Asian tour in South Korea, where he is expected to meet Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation (APEC) forum.

A report released Monday by the APEC secretariat forecast that annual growth in the Pacific region will slow to 3% this year from 3.6% last year, partly due to trade restrictions and higher tariffs.

### Japan’s Market Rally

In Japan, newly installed Prime Minister Sanae Takaichi enjoys high levels of public support for her market-friendly policies. The Nikkei 225 index climbed 2.1% to 50,329.08, hitting record intraday highs. Takaichi, Japan’s first female prime minister, favors raising defense spending, boosting stocks of major defense contractors such as Kawasaki Heavy Industries, which rose 8.7%. Other defense-related companies also gained, with IHI Corp. up 2.6% and Hitachi increasing 2.7%.

Trump has frequently criticized Japan for restricting access to its auto market, citing it as one justification for imposing tariffs of 25%—later reduced to 15%—on Japan, one of America’s most vital Asian allies. In response, the Japanese government has proposed purchasing a fleet of Ford F-150 trucks for inspecting roads and infrastructure, signaling openness to U.S. products.

### Gains Across Asia-Pacific Markets

South Korea saw shares surge as well, with the Kospi rising 2% to a record 4,018.73. Investors are optimistic about a possible trade agreement with the United States. Chinese markets also posted solid gains: Hong Kong’s Hang Seng increased by 1% to 26,427.34, and the Shanghai Composite rose 1% to 3,991.35.

In Australia, the S&P/ASX 200 picked up 0.3% to 9,047.40, while Taiwan’s Taiex gained 2.1%, and India’s Sensex was up 0.5%.

### U.S. Stocks Hit Records

On Friday, U.S. stocks reached record highs after inflation data proved less severe than anticipated. The S&P 500 rose 0.8% to 6,791.69, surpassing its previous all-time high set earlier this month. The Dow Jones Industrial Average rallied 1% to 47,207.12, and the Nasdaq composite climbed 1.1% to a record 23,204.87.

The encouraging inflation figures suggest less financial strain for lower- and middle-income households grappling with high price increases. More importantly for Wall Street, the data may clear the way for the Federal Reserve to continue cutting interest rates to support a slowing job market.

The Fed cut its main interest rate last month for the first time this year but has so far been cautious about additional cuts due to concerns that lower rates might exacerbate inflation.

Most large U.S. companies reported stronger-than-expected profits last quarter, further raising hopes for steady economic growth.

### Commodities and Currency Movements

Early Monday trading saw U.S. benchmark crude oil rise 15 cents to $61.65 per barrel, while Brent crude, the international standard, increased 12 cents to $65.32 per barrel. The U.S. dollar strengthened against the Japanese yen to 153.15 from 152.85 yen. Conversely, the euro slipped to $1.1622 from $1.1636.
https://wtop.com/world/2025/10/asian-shares-gain-japans-nikkei-tops-50000-level-as-trump-seeks-trade-deals/

Trump says he expects to reach trade deal with China on his Asia trip

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President Trump is scheduled to arrive soon in Japan, where new Prime Minister Sanae Takaichi is banking on building a friendly personal relationship with the U.S. leader to ease trade tensions. The meeting is an early diplomatic test for Takaichi, the first woman to lead Japan. She took office only last week and has a tenuous coalition backing her.

Mr. Trump spent Sunday in Malaysia, where he participated in a regional summit of Southeast Asian nations and reached preliminary trade agreements with Malaysia, Thailand, Cambodia, and Vietnam. While en route to Japan, he returned to the press cabin on Air Force One along with Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, and U.S. Trade Representative Jamieson Greer.

Mr. Trump said he would talk about the “great friendship” between the U.S. and Japan during his visit. “I hear phenomenal things” about Takaichi, he said, noting her closeness with former Prime Minister Shinzo Abe, with whom Mr. Trump had a good relationship during his first term. “It’s going to be very good,” he added. “That really helps Japan and the United States.”

Mr. Trump also expressed optimism about reaching a trade agreement with China. Officials from the world’s two largest economies said Sunday that they had reached an initial consensus for Mr. Trump and Chinese leader Xi Jinping to try to finalize during a high-stakes meeting later in the week.

“I have a lot of respect for President Xi,” Mr. Trump told reporters on Air Force One. “I think we’re going to come away with a deal,” he said. He added that he might sign a final deal on TikTok on Thursday. Treasury Secretary Bessent said on “Face the Nation with Margaret Brennan” that a TikTok deal announced last month is set to be finalized on Thursday during the Trump-Xi meeting.

After Japan, Trump’s Asian tour will conclude in South Korea, where he is expected to meet with Xi on the sidelines of the Pacific Rim summit, the Asia-Pacific Economic Cooperation (APEC) forum.

On other matters, Mr. Trump rejected the possibility of running for vice president as a way to get back to the presidency, saying, “I’d be allowed to do it” but wouldn’t because “it’s too cute.” Steve Bannon, a Trump ally, has repeatedly said the president could serve a third term despite a constitutional prohibition. Mr. Trump himself has flirted with the idea but said on Air Force One, “I haven’t really thought about it.”

He praised Rubio and Vance as potential future Republican candidates. “I’m not sure if anybody would run against those two. I think if they ever formed a group, it would be unstoppable,” Mr. Trump said.

Mr. Trump also said he would be willing to extend his trip if there was a chance to talk to reclusive North Korean leader Kim Jong Un. Since South Korea is the president’s last stop before returning to the U.S., “it’s pretty easy to do,” he noted.

Mr. Trump’s overtures to reconnect with Kim have gone unanswered. “If he wants to meet, I’ll be in South Korea,” Trump said.

There are many security issues in the region, including access to the South China Sea and the future of Taiwan. However, Mr. Trump’s focus has undoubtedly been on trade and his desire to realign the international economy under his vision of “America first.” For the most part, that means tariffs, or at least the threat of them.

Mr. Trump has frequently used taxes on imports from allies and adversaries alike in an effort to boost domestic manufacturing or seek more favorable terms. However, his unilateral power to enact tariffs remains contested. The president is awaiting a Supreme Court decision in a case that could solidify or limit his authority.

The president is flying to Tokyo from Kuala Lumpur, where he attended the annual summit of the Association of Southeast Asian Nations (ASEAN). He participated in a ceremonial signing of an expanded ceasefire between Thailand and Cambodia, which fought earlier this year. Trump helped pressure both countries to stop their conflict by threatening to withhold trade agreements.

The ASEAN summit wasn’t a guaranteed part of any president’s itinerary but served as an opportunity for Mr. Trump to reengage with a critical region for the first time since returning to office.

While on his way to Japan, Mr. Trump posted on Truth Social that Argentine President Javier Milei was “doing a wonderful job” as his party beat expectations in midterm elections. “Our confidence in him was justified by the People of Argentina,” Mr. Trump wrote.

Trump ally Milei essentially received a vote of confidence to pursue his policies aimed at breaking long-standing inflation and economic problems in Argentina. A libertarian seeking to unlock free-market forces, Milei has endeared himself to Mr. Trump’s “Make America Great Again” movement with an appearance this year at the Conservative Political Action Conference (CPAC) in the U.S.

The Trump administration provided a $20 billion credit swap line to bolster Milei ahead of the election and was looking to provide an additional $20 billion to support the value of Argentina’s peso.
https://www.cbsnews.com/news/trump-says-he-expects-to-reach-trade-deal-with-china-as-his-asia-trip-continues/