Business
Threatened by Trump tariffs, Japan walks a delicate tightrope between US and China
Finance Minister Katsunobu Kato arrives at the prime minister’s office on Nov 11, 2024, in Tokyo. (AP)
WASHINGTON, May 6, (AP): Just as Japan’s top trade negotiator traveled to Washington for another round of tariff talks last week, a bipartisan delegation bearing the name of “Japan-China Friendship” wrapped up a visit to Beijing. A week earlier, the head of the junior party in Japan’s ruling coalition was in Beijing delivering a letter from Japanese Prime Minister Shigeru Ishiba addressed to Chinese President Xi Jinping.
Details of the letter are unknown, but the two sides discussed U.S. tariffs in addition to bilateral issues. Among all US allies being wooed by Beijing in its tariff stare-down with Washington, Japan stands out. It is a peculiar case not only for its staunch commitment to its alliance with the United States but also for its complicated and uneasy history with the neighboring Asian giant – particularly the war history from the 20th century that still casts a shadow over the politics of today. “On one hand, they are neighbors and they are important economic partners.
There’s a lot that connects Japan and China,” said Matthew Goodman, director of the Greenberg Center for Geoeconomics at the Council on Foreign Relations. “But on the other hand, I think there are limits to how far they’re going to lean into China.” While Japan won’t walk away from its alliance with the United States, the linchpin of the Asian country’s diplomacy and security policies, “it’s also true that the tariffs and uncertainty that Trump has created for Japan is really shaking things up in Tokyo,” Goodman said.
Last month, President Donald Trump announced a 24% tariff on Japanese goods in a sweeping plan to levy duties on about 90 countries. The White House has since paused the tariffs but a 10% baseline duty on all countries except China, allowing time for negotiations. Still, Trump’s 25% tax on aluminum, steel and auto exports have gone into effect for Japan.
The tariff moves, as well as Trump’s “America First” agenda, have cast doubts among the Japanese if the United States is still a dependable ally, while China is rallying support from tariff-threatened countries – including Japan. When Tetsuo Saito led Japan’s Komeito Party delegation to Beijing in late April, China hinted at difficulty in its tariff dispute with the United States, signaling its willingness to improve ties with Tokyo.
An unnamed senior Chinese official said his country was “in trouble” when discussing Trump’s 145% tariff on Chinese products, according to Japanese reports. Saito’s visit was soon followed by that of the bipartisan delegation of Japan-China Friendship Parliamentarians’ Union. Zhao Leji, Beijing’s top legislator, told the delegation that China’s National People’s Congress would be “willing to carry out various forms of dialogue and exchanges.”
Kuwait enhances Stock Exchange access for emerging firms with amendments to listing rules.
KUWAIT CITY, July 1: Kuwait’s Capital Markets Authority (CMA) has officially launched a new regulatory environment to support the listing and trading of emerging companies on the Kuwait Stock Exchange (KSE), in cooperation with Boursa Kuwait. The initiative includes the creation of a dedicated platform for these companies, alongside key amendments to existing listing rules.
In a statement released on Tuesday, the CMA confirmed that the move is part of broader efforts to adopt international best practices, promote capital market development, diversify investment tools, and enhance both market competitiveness and transparency — all aimed at bolstering investor protection.
The approved amendments focus on strengthening listing standards by requiring companies to maintain certain conditions, including minimum thresholds for free float shares and their market value. These measures are designed to improve liquidity and ensure sustained compliance with regulatory obligations.
The Authority emphasized that supporting emerging companies is crucial to driving economic growth and aligns with Kuwait’s broader strategic vision. The newly launched market will offer an attractive financing environment for smaller and growing enterprises while providing investors with fresh opportunities governed by high transparency standards.
The regulatory framework is the result of a comprehensive study conducted by the CMA, which formed the basis for drafting specific rules to govern the emerging companies market. The platform is intended to serve as both a support system for these businesses and a dynamic investment space in line with global benchmarks.
The CMA also underscored the importance of continuously evolving the rules that govern listing conditions. This includes safeguarding investor interests by removing companies that fail to meet their obligations and ensuring adequate liquidity by enforcing minimum requirements for free float shares in both the primary and secondary market segments.
Additionally, the Authority reaffirmed its commitment to enhancing executive regulations that protect investors and empower small shareholders to actively participate in corporate decision-making processes.
This latest move is seen as a significant step toward further modernizing Kuwait’s financial sector and creating a more inclusive and diversified capital market landscape.
The Kuwait government approves tougher measures to tackle financial crimes.
KUWAIT CITY, June 30: Kuwait is intensifying efforts to combat money laundering and terrorist financing by enhancing its legislative framework, announced Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam on Monday.
The minister spoke in a statement issued by the Ministry of Finance following the publication of Decree Law No. (76) of 2025 in the official gazette, Kuwait Today. This decree introduces important amendments to Law No. (106) of 2013, reflecting Kuwait’s integrated government efforts to strengthen measures against financial crimes.
During the Cabinet meeting on June 17, the draft of the amended decree law was approved, underlining Kuwait’s commitment to raising the effectiveness of the national response to money laundering and terrorism financing. The amendments align with the requirements of the Financial Action Task Force (FATF) and relevant international standards.
The new decree law includes two significant amendments:
- Article One replaces Article (25) of Law No. (106) of 2013, empowering the Council of Ministers, upon the recommendation of the Minister of Foreign Affairs, to issue necessary decisions to implement United Nations Security Council resolutions related to terrorism, terrorism financing, and the proliferation of weapons of mass destruction under Chapter VII of the UN Charter. These decisions will take effect immediately upon issuance, consistent with Security Council Resolution No. 1373 of 2001. The executive regulations will define the rules for publishing these decisions, appealing them, authorizing the release of frozen funds for essential living expenses, and managing such assets.n
- Article Two adds a new Article (33 bis) to Law No. (106) of 2013, stating that any violation of decisions issued under Article (25) will result in fines ranging from 10,000 to 500,000 Kuwaiti dinars per violation. This penalty complements any additional sanctions imposed by regulatory authorities on financial institutions or designated non-financial businesses.n
The Ministry emphasized that these amendments support the National Committee for Combating Money Laundering and Terrorism Financing by broadening its powers to apply targeted financial sanctions in compliance with FATF standards. This includes the mandatory freezing of assets belonging to individuals and entities listed locally as terrorists, effective immediately upon decision issuance.
Furthermore, the amendments enable the Committee to impose fines on violators and require publishing the national list of designated terrorists on the Committee’s official website, enhancing transparency and meeting international obligations.
Minister Al-Fassam concluded that the updated legislative measures reaffirm Kuwait’s strong commitment to fighting financial crimes, safeguarding national security and stability, and fulfilling its global responsibilities.
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