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Major stock markets on Monday largely shrugged off US President Donald Trump’s latest tariffs threat to hit the EU and Mexico with 30 percent levies.Analysts said investors viewed the warning as yet another negotiating ploy against America’s trading partners rather than a genuine move — although lingering uncertainty weighed on oil prices.US shares initially dipped on Trump’s threat — which is due to take effect at the start of August — but then pushed higher, with the Nasdaq edging to a fresh record.”The market is betting that by August 1st these tariffs are not going to be implemented at these levels,” said Peter Cardillo of Spartan Capital Securities. “And so the market continues to rally.”European indices finished largely down, but with no sign of panic selling. London’s FTSE climbed.Many Asian markets closed lower, but not Shanghai and Hong Kong.Markets believe the latest threat of 30-percent tariffs on the EU, the United States’ biggest trading partner, was “Trump-style brinkmanship — sound and fury meant to shake down concessions before the August 1 deadline,” explained Stephen Innes, managing partner at SPI Asset Management.”Financial markets are acting like the 30-percent rate is a mere tactic from Donald Trump, rather than a reality,” agreed Kathleen Brooks, research director at XTB.Yet some, including Kim Heuacker, an associate consultant at Camarco, noted “there remains the genuine risk that, to save face, he (Trump) may activate the high tariffs.”The European Union, stung by Trump’s unexpected raising of the stakes amid trade negotiations, is looking at targeting 72 billion euros’ ($84 billion) worth of US imports if talks with Washington fail, its trade chief, Commissioner Maros Sefcovic, said.With Trump’s threat being discounted, bandwidth was given to other news.Bitcoin struck a record high above $123,000, fueled by possible regulatory changes for crypto assets in the United States.Attention was also focused on Trump on Monday vowing “very severe tariffs” on Russia’s trade partners if Moscow did not resolve its war in Ukraine within 50 days.Oil traders initially saw those sanctions constricting supply, and they pushed crude prices higher — before selling off under the cloud of a possible broader trade war that would depress global demand.Besides tariffs, markets are looking ahead to earnings from JPMorgan Chase, Bank of America and other banks that will offer updates on the state of US consumers and on the health of the companies’ trading and investment businesses.Markets are also awaiting US government reports on consumer pricing and retail sales for June, which will inform expectations on the likelihood and timing of Federal Reserve interest rate changes. Futures markets are betting on a Fed interest rate cut in September.- Key figures at around 2030 GMT -New York – Dow: UP 0.2 percent at 44,459.65 (close)New York – S&P 500: UP 0.1 percent at at 6,268.56 (close)New York – Nasdaq Composite: UP 0.3 percent at 20,640.33 (close)London – FTSE 100: UP 0.6 percent at 8,998.06Paris – CAC 40: DOWN 0.3 percent at 7,808.17 Frankfurt – DAX: DOWN 0.4 percent at 24,160.64Tokyo – Nikkei 225: DOWN 0.3 percent at 39,459.62 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 24,203.32 (close)Shanghai – Composite: UP 0.3 percent at 3,519.65 (close)Euro/dollar: DOWN at $1.1670 from $1.1689Pound/dollar: DOWN at $1.3428 from $1.3493Dollar/yen: UP at 147.77 yen from 147.43 yenEuro/pound: UP at 86.88 pence from 86.64 penceBrent North Sea Crude: DOWN 1.6 percent at $69.21 per barrelWest Texas Intermediate: DOWN 2.2 percent at $66.98 per barrel

The European Union is seeking “fair competition” with China and not a race to the bottom in wages and environmental standards, the bloc’s vice president for the clean transition told AFP in Beijing on Monday.Deep frictions exist over economic relations between the 27-nation bloc and China.Brussels is worried that a manufacturing glut propelled by massive state subsidies could add to a yawning trade deficit and result in a flood of cheap Chinese goods undercutting European firms.Speaking during a visit to Beijing ahead of a major EU-China summit in the city this month, Teresa Ribera dismissed China’s claims that the bloc was engaging in “protectionism”.”We Europeans don’t want to go down a race towards low incomes, lower labour rights or lower environmental standards,” said Ribera, who also serves as the bloc’s competition chief.”It is obvious that we could not be in a good position if there could be an… over-flooding in our markets that could undermine us with prices that do not reflect the real cost,” she said.The EU imposed extra import taxes of up to 35 percent on Chinese electric vehicle imports in October and has investigated Chinese-owned solar panel manufacturers.Asked whether EU moves against Chinese green energy firms could harm the global transition to renewables, Ribera said she accepted that “it is fair to say that, yes, we may benefit in the very short term” from cheaper imports.However, she also warned “it could kill the possibility” of long-term investment in the bloc’s future.- ‘Lack of ambition’ -Ribera also met with China’s Vice Premier Ding Xuexiang on Monday for a roundtable discussion.She warned in opening remarks that “the possible lack of ambition by major emitters is a concern to the international community and to our citizens” and called for great action.Ding, in turn, hailed China’s “participation in global environmental governance”.And at a later news conference, Ribera praised the “deep and positive conversation” with Chinese officials.But, she added, there was “great room for improvement”.”In order to improve, we need to identify what are the points of concerns coming from each side,” she said.A solution to trade tensions sparked by Brussels’s concerns of Chinese industrial overcapacity “will come”, she added — but “not today”.- Global disruption -Ribera’s visit comes as China seeks to improve relations with the EU as a counterweight to superpower rival the United States, whose President Donald Trump has disrupted the global order and pulled Washington out of international climate accords.”I don’t think that we have witnessed many occasions in the past where a big economy, a big country, decides to isolate in such a relevant manner,” Ribera told AFP.”It is a pity… The Chinese may think that the United States has given them a great opportunity to be much more relevant in the international arena.”The visit also comes as the bloc and the United States wrangle over a trade deal. Trump threw months of negotiations into disarray on Saturday by threatening sweeping tariffs on the bloc if no agreement was reached by August 1.Ribera vowed on Monday that the EU would “defend the interests of our companies, our society, our business”.Asked if a deal was in sight, she said: “Who knows? We’ll do our best.”However, she insisted that EU digital competition rules — frequently condemned by Trump as “non-tariff barriers” to trade — were not on the table.”It’s a question of sovereignty,” Ribera said.”We are not going to compromise on the way we… defend our citizens and our society, our values and our market.”

Hundreds of rowdy spectators, many heavily tattooed, roared Monday at a Tokyo arena usually reserved for boxing — except the contestants were not athletes, but barbers.A dozen Japanese and foreign contestants were taking part in the World Barber Classic, showing off their hairdressing skills surrounded by national flags and the blare of hip-hop tunes.The event is part of a bid by Japan’s struggling barber industry to attract young male clients lost in recent years to hair salons, which are popular for their high-quality services.”In many countries, men getting their hair cut by barbers is an established culture,” whereas in Japan young men favour salons, competition organiser Sho Yokota told AFP.”What we’re trying to achieve is to elevate a men’s cut, or barbering, as a culture for men.”Popular culture in Japan driven by boy-band idols and young male actors steers men towards longer coiffures instead of the shaved, cropped or slicked-back styles usually associated with barbers. A TV trend at the turn of the century which made top hairdressers into fashion icons also increased the popularity of salons over traditional barber shops.  There are around 110,000 barber shops currently open in Japan, but twice as many salons.Most Japanese barbers are elderly but a new generation has emerged, armed with social media savvy.Among them is contestant Shoma Sugimura, who made it to the final three on Monday.”Our haircuts are often manly,” the 29-year-old, whose neck and shaved head were covered in tattoos, told AFP. The competing barbers were tested on their self-expression Monday, with each given a minute to woo the audience with a speech. Barbers in Japan are renowned for their skill, organiser Yokota said, but were often viewed as lacking showmanship.”I think hair is more than just hair,” judge Giancarlo Burgos, from Los Angeles, told AFP. “It’s a way of communicating yourself, but also connecting people. It’s a language that anybody can understand.” Another contestant Takumasa Suzuki, 32, told AFP he was trying to emulate American barber culture to bring business back and keep the barber trade alive.”In Japan, people just go for trendy haircuts,” but in the racially diverse United States, “they want their haircuts to encapsulate their own culture and heritage,” he said.”If barbershops in Japan can become a place where we can help customers express who they are, then I don’t think we will vanish.”

Major stock markets diverged and the dollar largely steadied Monday after President Donald Trump’s latest trade war salvos that saw him threaten to hit the European Union and Mexico with 30 percent tariffs.Trump’s move followed his warnings last week of potential 50 percent levies on copper and Brazilian goods, 35 percent on Canadian goods, and a possible 200 percent charge on pharmaceuticals.While observers warn the measures could deal a hefty blow to the global economy, investors are largely optimistic that governments will hammer out agreements before the White House’s August 1 deadline.Eurozone stock markets declined in midday trading Monday after leading Asian indices closed mixed. London climbed with Britain no longer part of the European Union, while comments from Bank of England governor Andrew Bailey hinting at more cuts to UK interest rates boosted sentiment.”Investors are lurching from hopes that Trump’s (tariff) threats are just a big negotiating tactic, to fears that his impatience will turn more vengeful and big hikes will come into force in August,” noted Susannah Streeter, head of money and markets at Hargreaves Lansdown.Traders were awaiting news following Trump’s meeting due Monday with NATO chief Mark Rutte in Washington after the president teased a “major statement” on Russia’s war in Ukraine, with senior Republicans preparing an arsenal of sanctions against Moscow. The prospect of additional sanctions on Russian crude sent oil prices climbing 1.5 percent.Meanwhile bitcoin struck a record-high above $123,000.- Tariffs reaction -Regarding tariffs, Trump on Saturday cited Mexico’s role in illicit drugs flowing into the United States and a trade imbalance with the European Union.The move threw months of painstaking talks with Brussels into disarray.European Commission chief Ursula von der Leyen has insisted the bloc still wants to reach an accord — and on Sunday delayed retaliation over separate US duties on steel and aluminium as a sign of goodwill.EU officials threatened in May to impose tariffs on US goods worth around 100 billion euros ($117 billion), including cars and planes, should talks fail.Heading into Brussels talks with EU trade ministers Monday, the bloc’s trade chief Maros Sefcovic said despite Trump’s latest threat he “felt” Washington was ready to continue negotiating — and he planned to speak with his US counterparts later in the day.Analysts pointed out that the levies against Mexico and Canada come even after Trump agreed a trade deal with the two during his first administration.Tensions, meanwhile, have eased between the United States and China.Official data Monday showed Chinese exports jumped more than expected in June after Washington and Beijing agreed a tentative deal to lower swingeing levies on each other.That included a 32.4 percent surge in shipments to the United States, having dropped in May.Traders are also keeping a nervous eye on the Federal Reserve as Trump continues to berate boss Jerome Powell for not cutting interest rates soon enough, saying Sunday “I hope he quits”, and adding “He should quit”.Reports also said the president’s allies were targeting the Fed chief over his handling of an expensive renovation at the bank’s headquarters, with some suggesting they were building a case to have him removed over it.However, strategists warned that such a move would bring the independence of the central bank into question and send US Treasury yields soaring and the dollar plunging.- Key figures at around 1045 GMT -London – FTSE 100: UP 0.4 percent at 8,977.21 pointsParis – CAC 40: DOWN 0.5 percent at 7,793.51 Frankfurt – DAX: DOWN 0.9 percent at 24,028.60Tokyo – Nikkei 225: DOWN 0.3 percent at 39,459.62 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 24,203.32 (close)Shanghai – Composite: UP 0.3 percent at 3,519.65 (close)New York – Dow: DOWN 0.6 percent at 44,371.51 (close)Euro/dollar: UP at $1.1692 from $1.1690 on ThursdayPound/dollar: DOWN at $1.3489 from $1.3497Dollar/yen: DOWN at 147.24 yen from 147.38 yenEuro/pound: UP at 86.69 pence from 86.59 penceBrent North Sea Crude: UP 1.4 percent at $71.37 per barrelWest Texas Intermediate: UP 1.5 percent at $69.47 per barrel

European markets mostly fell Monday while Asia was mixed as investors digested Donald Trump’s latest trade war salvos that saw him threaten to hit the European Union and Mexico with 30 percent tariffs.The US president’s outburst came after a series of announcements last week including warnings of 50 percent levies on copper and Brazilian goods, 35 percent on Canadian goods, and a possible 200 percent charge on pharmaceuticals.While observers warn the measures could deal a hefty blow to the global economy, investors are largely optimistic that governments will hammer out agreements before the White House’s August 1 deadline.In announcing his latest measures on Saturday, Trump cited Mexico’s role in illicit drugs flowing into the United States and a trade imbalance with the European Union.The move threw months of painstaking talks with Brussels into disarray.European Commission chief Ursula von der Leyen has insisted the bloc still wants to reach an accord — and on Sunday delayed retaliation over separate US duties on steel and aluminium as a sign of goodwill.EU officials threatened in May to impose tariffs on US goods worth around 100 billion euros ($117 billion), including cars and planes, if talks fail.The bloc’s trade chief Maros Sefcovic said he planned to speak to his US counterparts Monday, adding that he “cannot imagine walking away without genuine effort”.French President Emmanuel Macron backed efforts to reach an agreement that “reflects the respect that trade partners such as the European Union and the United States owe each other”.But he urged the bloc to “step up the preparation of credible countermeasures” if the two sides fail to reach an agreement.Analysts also pointed out that the levies against Mexico and Canada come even after Trump agreed a trade deal with the two during his first administration.Shares fell in Frankfurt and Paris, though London ticked higher.In Asia, Hong Kong, Shanghai, Seoul, Singapore, Manila, Bangkok and Jakarta all rose, while Tokyo, Sydney, Taipei, Mumbai and Wellington edged down.Bitcoin hit a new record high of $123,205.”It is hard to say whether the muted market response over the week is best characterised by resilience or complacency,” said National Australia Bank’s Taylor Nugent.”But it is difficult to price the array of headlines purportedly defining where tariffs will sit from 1 August when negotiations are ongoing.”Data showed Chinese exports jumped more than expected in June after Washington and Beijing agreed a tentative deal to lower swingeing levies on each other.That included a 32.4 percent surge in shipments to the United States, having dropped in May.Traders are also keeping a nervous eye on the Federal Reserve as Trump continues to berate boss Jerome Powell for not cutting interest rates soon enough, saying Sunday “I hope he quits”, and adding “He should quit”.Reports also said the president’s allies were targeting the Fed chief over his handling of an expensive renovation at the bank’s headquarters, with some suggesting they were building a case to have him removed over it.However, strategists warned that such a move would bring the independence of the central bank into question and send US Treasury yields soaring and the dollar plunging.- Key figures at around 0810 GMT -Tokyo – Nikkei 225: DOWN 0.3 percent at 39,459.62 (close)Hong Kong – Hang Seng Index: UP 0.3 percent at 24,203.32 (close)Shanghai – Composite: UP 0.3 percent at 3,519.65 (close)London – FTSE 100: UP 0.2 percent at 8,961.25Euro/dollar: DOWN at $1.1685 from $1.1690 on ThursdayPound/dollar: DOWN at $1.3484 from $1.3497Dollar/yen: DOWN at 147.36 yen from 147.38 yenEuro/pound: UP at 86.61 pence from 86.59 penceWest Texas Intermediate: UP 1.2 percent at $69.29 per barrelBrent North Sea Crude: UP 1.2 percent at $71.18 per barrelNew York – Dow: DOWN 0.6 percent at 44,371.51 (close)

China’s exports rose more than expected in June, official data showed Monday, after Washington and Beijing agreed a tentative deal to lower swingeing tariffs on each other.Data from the General Administration of Customs said exports climbed 5.8 percent year-on-year, topping the five percent forecast in a Bloomberg survey of economists.Imports rose 1.1 percent, higher the 0.3 percent gain predicted and marking the first growth this year.China’s exports reached record highs in 2024 — a lifeline to its slowing economy as pressures elsewhere mounted.Beijing’s efforts to sustain growth have been hit by a bruising trade war with the United States, driven by President Donald Trump’s sweeping tariffs, though the two de-escalated their spat with a framework for a deal at talks in London last month.Monday’s customs figures showed Chinese exports to the United States surged 32.4 percent in June, having fallen the month before, according to an AFP calculation based on official data.”Growth in export values rebounded somewhat last month, helped by the US-China trade truce,” Zichun Huang, China economist at Capital Economics, said. “But tariffs are likely to remain high and Chinese manufacturers face growing constraints on their ability to rapidly expand global market share by slashing prices,” Huang said.”We therefore expect export growth to slow over the coming quarters, weighing on economic growth,” she added.Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, said the figures showed Chinese firms were still “frontloading” exports to the United States — accelerating shipments in anticipation of further tariffs to come. The strong export figures “help to partly offset the weak domestic demand and likely keep GDP growth around the government target of five percent in the second quarter”, Zhang said.”But the outlook for the second half of the year is unclear, as the frontloading of exports (to the United States) will fade out sometime,” he said.Customs official Wang Lingjun told a news conference on Monday that Beijing hoped “the US will continue to work together with China towards the same direction”, state broadcaster CCTV reported.The tariff truce was “hard won”, Wang said.”There is no way out through blackmail and coercion. Dialogue and cooperation are the right path,” he added.- Stuttering growth -Analysts say China’s economy is expected to have expanded more than five percent in the second quarter thanks to its strong exports. Official figures are due to be released on Tuesday.But they also warn Trump’s trade war could cause a sharp slowdown in the final six months of the year.Beijing is targeting an overall expansion of around five percent in 2025 — the same as last year but a figure considered ambitious by many experts.First-quarter growth came in at 5.4 percent, beating forecasts and putting the economy on a positive trajectory.Beijing has struggled to sustain growth since the pandemic as it battles a prolonged debt crisis in the property sector, chronically low consumption and high youth unemployment.Data released last week showed that consumer prices edged up in June, barely snapping a four-month deflationary dip, but factory gate prices dropped at their fastest clip in nearly two years.Many economists argue that China needs to shift towards a growth model propelled more by domestic consumption than the traditional key drivers of infrastructure investment, manufacturing and exports.Beijing has introduced a slew of measures since last year in a bid to boost spending, including a consumer goods trade-in subsidy scheme that briefly lifted retail activity.

China’s exports jumped in June, official data showed Monday, beating forecasts in a month when Washington and Beijing agreed a tentative deal to lower swingeing tariffs on each other.Data from the General Administration of Customs said exports rose 5.8 percent year-on-year, topping the five percent forecast in a Bloomberg survey of economists. Imports rose 1.1 percent — beating the predicted 0.3 percent gain.China’s exports reached record highs last year — a lifeline to its slowing economy as pressures elsewhere mounted.Beijing has struggled to sustain growth since the pandemic as it battles a prolonged debt crisis in the property sector, chronically low consumption and high youth unemployment.And a bruising trade war with the United States, driven by President Donald Trump’s policy of sweeping import tariffs, has made things more difficult for the world’s second-largest economy.Washington and Beijing have de-escalated their trade spat after reaching a framework for a deal at talks in London last month, but observers warn of lingering uncertainty.Customs official Wang Lingjun said at a news conference on Monday that Beijing “(hopes) that the US will continue to work together with China towards the same direction”, state broadcaster CCTV reported.The tariff truce was “hard won”, Wang said.”There is no way out through blackmail and coercion. Dialogue and cooperation are the right path,” he added.

Most Asian markets rose Monday as investors digested Donald Trump’s latest trade war salvos that saw him threaten to hit the European Union and Mexico with 30 percent tariffs.The US president’s outburst came after a series of announcements last week including warnings of 50 percent levies on copper and Brazilian goods, 35 percent on Canadian goods, and a possible 200 percent charge on pharmaceuticals.While observers warn the measures could deal a hefty blow to the global economy, investors are largely optimistic that governments will hammer out agreements before the White House’s August 1 deadline.In announcing his latest measures on Saturday, Trump cited Mexico’s role in illicit drugs flowing into the United States and a trade imbalance with the European Union.The move threw months of painstaking talks with Brussels into disarray.European Commission chief Ursula von der Leyen has insisted the bloc still wants to reach an accord — and on Sunday delayed retaliation over separate US duties on steel and aluminium as a sign of goodwill.EU officials threatened in May to impose tariffs on US goods worth around 100 billion euros ($117 billion), including cars and planes, if talks fail.French President Emmanuel Macron backed efforts to reach an agreement that “reflects the respect that trade partners such as the European Union and the United States owe each other”.But he urged the bloc to “step up the preparation of credible countermeasures” if the two sides fail to reach an agreement.Analysts also pointed out that the levies against Mexico and Canada come even after Trump agreed a trade deal with the two during his first administration.Still, Asian investors brushed off Friday’s losses in New York and Europe, remaining hopeful that governments will strike deals with Washington and avoid the worst of the tariffs.Hong Kong, Shanghai, Sydney, Seoul, Singapore, Manila and Jakarta all rose, with Tokyo, Wellington and Taipei edging down.Bitcoin hit a new record high of $119,490.”It is hard to say whether the muted market response over the week is best characterised by resilience or complacency,” said National Australia Bank’s Taylor Nugent.”But it is difficult to price the array of headlines purportedly defining where tariffs will sit from 1 August when negotiations are ongoing.”Traders are also keeping a nervous eye on the Federal Reserve as Trump continues to berate boss Jerome Powell for not cutting interest rates soon enough, saying Sunday “I hope he quits”, and adding “He should quit”.Reports also said the president’s allies were targeting the Fed chief over his handling of an expensive renovation at the bank’s headquarters, with some suggesting they were building a case to have him removed over it.However, strategists warned that such a move would bring the independence of the central bank into question and send US Treasury yields soaring and the dollar plunging.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: DOWN 0.3 percent at 39,469.72 (break)Hong Kong – Hang Seng Index: UP 0.1 percent at 24,174.34Shanghai – Composite: UP 0.4 percent at 3,524.93Euro/dollar: UP at $1.1693 from $1.1690 on ThursdayPound/dollar: DOWN at $1.3496 from $1.3497Dollar/yen: DOWN at 147.01 yen from 147.38 yenEuro/pound: UP at 86.64 pence from 86.59 penceWest Texas Intermediate: UP 0.1 percent at $68.52 per barrelBrent North Sea Crude: UP 0.1 percent at $70.43 per barrelNew York – Dow: DOWN 0.6 percent at 44,371.51 (close)London – FTSE 100: DOWN 0.4 percent at 8,941.12 (close)

Rising from the muddy fields on the Mekong riverbank in Laos, a lotus tops a casino in a sprawling city which analysts decry as a centre for cybercrime.Shabby, mismatched facades –- including an Iberian-style plaza replete with a church tower, turrets and statues — stand alongside high-rise shells. The Golden Triangle Special Economic Zone (GTSEZ) is the most prominent of more than 90 such areas established across the Mekong region in recent years, often offering people reduced taxes or government regulation.Traffic signs in the GTSEZ are in Chinese script, while everything from cigarettes to jade and fake Christian Dior bags are sold in China’s yuan.Analysts say the towers are leased out as centres operating finance and romance scams online, a multibillion-dollar industry that shows no signs of abating despite Beijing-backed crackdowns in the region.The GTSEZ was set up in 2007, when the Laos government granted the Kings Romans Group a 99-year lease on the area.Ostensibly an urban development project to attract tourists with casinos and resorts, away from official oversight international authorities and analysts say it quickly became a centre for money laundering and trafficking.The city has now evolved, they say, into a cybercrime hub that can draw workers from around the world with better-paying jobs than back home.Laundry hung out to dry on the balconies of one high-rise building supposed to be a tourist hotel, while the wide and palm-lined boulevards were eerily quiet.It is a “juxtaposition of the grim and the bling”, according to Richard Horsey of the International Crisis Group.It gives the “impression of opulence, a sort of Las Vegas in Laos”, he said, but it is underpinned by the “grim reality” of a lucrative criminal ecosystem.- ‘Horrendous illicit activities’ -In the daytime a few gamblers placed their bets at the blackjack tables in the city’s centrepiece Kings Romans Casino, where a Rolls Royce was parked outside.”There are people from many different countries here,” said one driver offering golf buggy tours of the city, who requested anonymity for security reasons. “Indians, Filipinos, Russians and (people from) Africa.””The Chinese mostly own the businesses,” he added.Cyberfraud compounds have proliferated in special economic zones across Southeast Asia, according to the UN Office on Drugs and Crime.Kings Romans’ importance as a “storage, trafficking, deal-making, and laundering hub (is) likely to expand”, it said in a report last year, despite crackdowns on illegal activities.The founder of the Kings Romans Group and the GTSEZ is Zhao Wei, a Chinese businessman with close links to the Laos government, which has given him medals for his development projects. He and three associates, along with three of his companies, were sanctioned by the US Treasury in 2018 over what it called “an array of horrendous illicit activities” including human, drug and wildlife trafficking and child prostitution.Britain sanctioned him in 2023, saying he was responsible for trafficking people to the economic zone.”They were forced to work as scammers targeting English-speaking individuals and subject to physical abuse and further cruel, inhuman and degrading treatment or punishment,” Britain’s Treasury said.The same year and again last August, authorities in China and Laos cracked down on cyberfraud operations in the GTSEZ, raiding offices and arresting hundreds of suspects. – ‘Violence doesn’t always pay’ -With public anger in China mounting, over both scamming itself and alleged kidnappings, Beijing instigated raids this year on centres in Myanmar and Cambodia. The operations primarily targeted Chinese workers, thousands of whom were released and repatriated, along with hundreds of other foreigners.Some say they are trafficking victims or were tricked and forced to scam people online, but some authorities say they are there voluntarily.Scammers have adapted by shifting their locations and targets, specialists say, and Horsey explained that trafficking and abuses have reduced as the business model has developed. “If you’re trying to scale and produce a huge business… violence doesn’t always pay,” he said.”It’s better to have motivated workers who aren’t scared, who aren’t looking over their shoulder, who are actually free to… do their job.”Beijing realises it cannot completely stop criminality in the region, so prefers to manage it, he added.Chinese authorities can “pick up the phone” to Zhao and tell him: “Don’t do this, limit this, don’t target Chinese people”, he said.That “is actually more valuable for China than trying to eradicate it everywhere and just lose all influence over it”.The United States Institute for Peace estimated in 2024 that Mekong-based criminal syndicates were probably stealing more than $43.8 billion annually.Representatives of both the GTSEZ and Kings Romans did not respond to AFP’s repeated requests for comment, while Zhao could not be reached.The Laos government could not be reached for comment, but the official Lao News Agency said after last year’s busts that the country was “committed to decisively addressing and eliminating cyber-scam” activity.

US senators on Sunday touted a bipartisan bill that would arm President Donald Trump with “sledgehammer” sanctions to use against Russia, ahead of a visit by the US special envoy to Ukraine.Trump has indicated he would be open to the sanctions bill as relations with Russian counterpart Vladimir Putin grow increasingly frosty.US special envoy Keith Kellogg is due to begin his latest visit to Ukraine while Trump said he would make a “major statement… on Russia” on Monday.Republican Senator Lindsey Graham said he had majority backing in the Senate for his bill, which was gaining momentum as Washington-led peace efforts in Ukraine have struggled to make headway.The bill would allow Trump “to go after Putin’s economy, and all those countries who prop up the Putin war machine,” Graham told broadcaster CBS news.Trump, who has repeatedly said he is “disappointed” with Putin as Moscow unleashed deadly barrages of missiles against Kyiv, has hinted he might finally be ready to toughen sanctions.Trump held off for the past six months while he tried to persuade Putin to end the war. But the Republican president’s patience appears to be wearing thin, telling reporters during a cabinet meeting at the White House Tuesday that Putin was talking “a lot of bullshit” on Ukraine.Last week, Trump also agreed to send Zelensky more weapons, including through a deal with NATO which would involve the alliance purchasing US weapons to send to Ukraine.On Thursday, Trump appeared to back the bill without detailing whether he would use it to slap sanctions on Moscow.”They’re going to pass a very major and very biting sanctions bill, but it’s up to the president as to whether or not he wants to exercise it,” Trump told broadcaster NBC.Asked during a cabinet meeting about his interest in the bill, Trump said: “I’m looking at it very strongly.””This congressional package that we’re looking at would give President Trump the ability to impose 500% tariffs on any country that helps Russia,” said Graham, adding that those could include economies that purchase Russian goods like China, India or Brazil.”This is truly a sledgehammer available to President Trump to end this war,” said Graham.”Without a doubt, this is exactly the kind of leverage that can bring peace closer and make sure diplomacy is not empty,” the Ukrainian leader said about the proposed bill in an X post.Graham and Democratic Senator Richard Blumenthal were to meet NATO Secretary General Mark Rutte on Monday night.Blumenthal told CBS news they would also discuss the legally thorny issue of unlocking frozen Russian assets in Europe and the United States for access by Ukraine.”The $5 billion that the United States has also could be accessed, and I think it’s time to do it,” said Blumenthal.