Thank you for joining us. From our studio in Tokyo, this is NHK Newsline.
Trump Heads to China for Summit with Xi
US President Donald Trump is heading to China for a summit with his Chinese counterpart Xi Jinping.
The two leaders are set to meet on Thursday morning.
They're expected to discuss trade and economic issues, as well as Taiwan and the Iran conflict.
00:00:31 話者 2
I think you're going to see that good things are going to happen.
This is going to be a very exciting trip.
A lot of good things are going to happen.
00:00:39 話者 1
Trump is slated to arrive in Beijing on Wednesday night and stay through Friday.
Key Events in US–China Relations During Trump’s 2nd Term
The high-level meeting between the US and China comes after months of growing bilateral tension between the two nations.
We take a look at the key events that unfolded between the two since President Trump began his second term.
00:01:01 話者 3
At the start of last year, the US triggered what would ultimately be a tit-for-tat tariff war with China.
The reason was an alleged inflow of drugs, such as fentanyl, into the US.
00:01:14 話者 2
The country should not be allowing those drugs to come into the United States of America, and we're not going to allow it to happen.
00:01:21 話者 3
In the following weeks, the US imposed a combined 145 percent in additional tariffs on China. China, in turn, hit back with extra tariffs totaling 125 percent.
00:01:37 話者 2
These countermeasures against American bullying are to protect our legitimate rights and interests, to safeguard international rules and orders, and to protect common interests around the globe.
00:01:51 話者 3
China also moved to tighten export controls on rare earths, which are essential for high-tech industries.
It was at that point the two countries sought a path toward dialogue.
After a series of senior-level talks and a phone call between the two leaders, Trump and Xi met face-to-face at the APIC summit last October.
The two agreed on a trade truce, easing tariffs and partially pausing China's export restrictions on critical minerals.
However, the relationship would face another hurdle weeks later when the US approved an $11 billion arms sale to Taiwan.
China appeared to push back, and in the following days, its military conducted live-fire drills in waters and skies around Taiwan.
US-China relations were again tested at the start of this year when US military operations unfolded in Iran, a major trading partner with China.
China said the operation was a violation of international law and called for an immediate ceasefire.
More recently, the US applied sanctions on Chinese firms it believes are supporting Iran.
And a senior White House official has said the president will apply pressure on China over the issue in the coming meeting.
This high-stakes meeting will be Trump's first in Beijing since 2017.
He was originally scheduled to visit in late March, but had to postpone due to the ongoing conflict in Iran.
Analysis: Expectations for the US–China Summit
00:03:28 話者 1
Given the rocky relationship between these two superpowers, this summit will be closely watched around the world.
For more on what to expect, NHK World's Sekiya Satochi spoke with Professor Stephen Nagy.
He's an expert on US-China relations from the International Christian University in Tokyo.
00:03:47 話者 2
What issues do you think the United States will place the greatest emphasis on in the negotiations?
So I think the best way to understand the priorities of the United States is to look at who's been driving the agenda for the summit.
It's been Scott Pesant, the Treasury Secretary in the United States, and the equivalent on the Chinese side.
This means that economics and trade are the priorities for the United States and China, not security issues, cyber issues, or even trying to deal with AI regulation.
In that context, the order of priority for both sides will be trade, dealing with tariffs,
stabilizing the bilateral trade relations, I likely see that the United States is going to press China on stabilizing rare earth materials, ensuring that rare earth materials and the supply chains associated with those rare earth materials remain stable, predictable, and frankly not weaponized.
On the other hand, Nagi points out that China's top priorities include the economy, as well as issues such as Taiwan.
So as I think about the position of the Chinese today, their economy has many, many, many downward pressures.
The property bubble has burst.
There's high youth unemployment.
Domestic consumption continues to lag.
And many young people are really not getting involved in the economy.
We call the Taipin movement where people are laying down.
So, Xi Jinping is very much interested in getting tariff relief so that the economy can start to work for ordinary Chinese people.
Second, and I think very importantly for Xi Jinping and any Chinese administration moving forward, is the Taiwan issue.
Xi Jinping is going to push for the United States to have an explicit statement on their position of Taiwan.
If they can, they're going to push the United States to stop defensive equipment transfers to Taiwan, to explicitly say that they don't support independence of Taiwan, and that they perhaps will not be involved in some kind of Taiwan contingency.
Although Nagi foresees short-term stability in bilateral relations, he believes this is a long-term competition.
He says technological advances in AI and quantum computing will change how economies and societies work.
And whichever country wins that race could determine the rules for the global economy over the next several decades.
The competition between the United States and China will not end here today.
This is, you know, it's what we would call in ice hockey, this is the intermission.
And what we're going to see is another period of competition and another period of competition.
And we're going to move into overtime and many overtime periods.
And, you know, I say that because, again, these two countries are competing for global influence.
They want to rewrite, I think, our international rules so that they reflect their respective interests.
Tehran Pushes Back Against US Pressure
00:07:11 話者 1
Meanwhile, Iranian officials touted their strong ties with Beijing ahead of Trump's visit.
They say China's stance toward them will not change, despite US pressure.
The Iranian ambassador to China says the two countries have built a strong relationship.
He says they share ancient civilizations and deep cultural bonds.
The spokesperson for the foreign ministry criticized US demands in negotiations as unjust.
He says the talks need to have a give-and-take.
00:07:44 話者 2
If you think that negotiations is 100 percent satisfaction one-sidedly, that's not negotiations.
That's imposition of your will.
And it will not happen in any case, at least as far as Iran is concerned.
00:08:01 話者 1
He warned that Iranian forces are prepared for every scenario, including a potential US
ground operation.
Trump told reporters he's going to make a good deal with Tehran.
And he says the ceasefire remains under review.
00:08:17 話者 4
We'll be thinking about it on the flight and we'll be thinking about it for the next little while, but we've beaten their militaries very soundly.
That's over with.
00:08:27 話者 1
He had previously described the ceasefire as being on life support and rejected Iran's response to the latest US proposal.
News side Axios says he's considering further military action.
It says he aims to pressure Tehran into making concessions over its nuclear program.
But it cites an official as saying he's unlikely to order any strikes during his trip.
A senior US defense official gave an estimate over the cost of the operation so far.
He says it's about 29 billion dollars.
That does not include the cost of repairing facilities damaged by Iranian attacks.
UK to Send Destroyer for Strait of Hormuz Mission
Now, Britain has announced plans for a multinational mission aimed at securing freedom of navigation in the Strait of Hormuz.
Defense Secretary John Healey spoke on Tuesday at a virtual meeting of defense chiefs from more than 40 countries, including Japan.
The talks were hosted by Britain and France.
Britain says it will send a destroyer to the Middle East.
It also plans to deploy autonomous equipment that can detect and disable mines, as well as dispatch fighter jets for air patrols.
British officials say other nations also announced their plans for the mission.
Japanese Defense Minister Koizumi Shinjiro spoke in the meeting.
He said that a lowering of threats in the waterway, as well as communication among the countries involved, are necessary for carrying out the mission.
But Koizumi did not commit to Japan joining the mission.
Iran Extends Operational Zone in Strait of Hormuz
Meanwhile, Iran's state-run media said Tuesday the Islamic Revolutionary Guard Corps has expanded the operational boundaries of the strategic waterway.
The change increases Iran's claim over the strait by more than tenfold.
It now extends 500 kilometers from the city of Jask on the coast to beyond Qashim island.
The IRGC says Iran is monitoring all activities in the region and will not allow any violations of its waters or interests.
South Korea Struggles with Oil Price Surge
The conflict has sent oil prices soaring around the globe,...
and that's also true in South Korea,...
where even some basic goods may soon be in short supply.
And HKRL's Kim Chan-joo joins us now from Seoul.
So Chan-joo, what impact are fuel prices having there?
00:11:07 話者 5
It's hard not to see the knock-on effects just about everywhere you look.
Well, take this parking lot I'm in now.
It's quite large, offering over 750 spaces right in the city center.
But not everyone is allowed to use it.
Well, that sign explains the lot's rotation system.
The last digit of your car's license plate dictates if you're allowed to park.
Today is Wednesday, so cars with plates that end in three or eight cannot come in.
It's not the only restriction in place.
The South Korean government is limiting how many of its own vehicles are allowed on the road.
See, there's another sign over here.
This one is for government cars.
On any given day, only half of them are allowed on the road.
On even days, it's cars with even plates.
But today is the 13th, so the sign says that today, it's odd plates only.
The goal is to spend less taxpayer money on gas.
But to give you an idea of how exceptional that is, the last time they had to take those kind of measures was back in the 2008 financial crisis.
And officials aren't the only ones trying to cut costs.
Everyone from small businesses to daily commuters is feeling the pinch.
We spoke with these two co-workers who live in the same neighborhood.
They've started carpooling to the office together.
Their company even offers incentives to convince employees to save energy.
Every day, they upload photos to prove their carpooling and get gift certificates as rewards.
They say they feel the difference in their wallets.
It was a bit too much for one person to cover the gas alone.
But by carpooling, you can split the cost in half, or even less if more people join in.
So it definitely helps reduce expenses.
But other things aren't so easy to replace.
Many say they're worried about their garbage bags.
They're government-regulated, so residents can't use an alternative.
It has some questioning how they'll trust their trash.
It's hard to buy garbage bags now.
00:13:43 話者 3
Really hard.
And they don't give you as many as they used to.
It used to be bundles of 10 or 20 sheets.
00:13:50 話者 5
Now they only sell you two or three at a time.
00:13:54 話者 3
Some people I know bought a lot in advance, but I didn't.
So what am I supposed to do if I really can't throw things away?
00:14:02 話者 5
Store owners are also feeling the impact.
Supplies like plastic cups and lids are now in short supply.
It has small businesses, like this cafe, worried about what comes next.
00:14:18 話者 2
About 80% of our sales are take-out orders.
So if the cup supply is disrupted, it would be very difficult for us to continue operating.
00:14:31 話者 5
In a bid to help, the government started giving out some cash.
The vast majority of South Koreans, the bottom 70 percent of income earners, are eligible.
As of April, they can receive up to 600-thousand won, or about 400 dollars.
But it can only be spent at small businesses, like traditional markets or gas stations.
The hope is that the money can boost the local economy.
But merchants at this market say they clearly see people are spending less.
I do see three or four customers per day using the relief money, but still there's definitely less people than before.
The government is also taking other measures like extending fuel tax cuts and capping gas prices.
It's even dipping into its stockpiles to get more food on the market.
But the cost of everything is still going up.
Until the situation stabilizes, South Koreans will likely continue to be hit where it hurts: in their pocketbooks.
UN Breaks Ground on Nairobi Headquarters Expansion
00:15:48 話者 1
The United Nations held a groundbreaking ceremony in the Kenyan capital of Nairobi for a new 1,600-seat hall.
The space would be large enough to host the General Assembly.
The ceremony took place on Monday.
UN Secretary-General Antonio Guterres and Kenya's President William Ruto took part.
The work is part of a broader push to position Nairobi as the organization's third hub for operations, alongside New York and Geneva.
00:16:19 話者 4
The groundbreaking ceremony for the new assembly hall and the inauguration of new office buildings are symbols of our collective ambition.
And the reaffirmation of the central role that Africa, and Kenya in particular, play in the life and future of the United Nations.
00:16:39 話者 1
Rudo also welcomed the project's launch.
00:16:43 話者 4
Kenya stands steadfast with the international community in advancing peace, sustainable development, human dignity and shared prosperity for all nations and all peoples.
00:16:58 話者 1
The international body is advancing plans to relocate some functions to areas with lower costs.
The effort comes amid mounting pressure from the Trump administration, including calls to cut expenses.
The new assembly hall is slated for completion in 2029.
California Mayor Charged as Agent for China
A mayor in the US state of California has been charged with acting as an agent of the Chinese government without notifying the attorney general as required by law.
The US Department of Justice filed a charge against Arcadia Mayor Eileen Wang on Monday.
The DOJ says Wang is suspected of engaging in acts, including spreading propaganda, at the direction of members of the Chinese government.
The alleged activity occurred from late 2020 until 2022, before she became mayor.
Wang reportedly co-managed a news website for the local Chinese-American community.
According to the DOJ, she allegedly posted an essay on the site, written by a Chinese government official, that rejected claims of genocide and forced labor in the Xinjiang Uyghur Autonomous Region.
US federal law requires agents operating under the control of foreign governments or foreign officials other than diplomats to notify the attorney general ahead of time.
Wang has agreed to a plea bargain and is expected to plead guilty in court at a later date.
She could face a maximum sentence of 10 years in prison.
The city of Arcadia says Wang vacated her position as mayor on Monday.
BUSINESS
Now let's see what's happening in the world of business.
Here's Ramin Mellegard from our BizDesk.
00:18:47 話者 4
Thank you very much indeed.
Nikkei Hits Record Closing High Above 63,000
Now just have a look at the screen next to me.
Japan's Nikkei 225 stock index set a record closing high on Wednesday to finish above the 63,000 mark for the first time ever.
Now, Tokyo's benchmark index rose 0.8% to end the day at 63,272.
Market sources say investors place buy orders for firms whose earnings are likely to have limited impact from the Iran conflict.
And with Japan's corporate earnings season now in full swing, companies with strong results were also in demand.
But the sources say some semiconductor-related shares that have been
the Nikkei's gains were sold off, reflecting investor concern about the market overheating.
10-Year JGB Yield Reaches 29-Year High
Meanwhile, inflation concerns, stoked by higher oil prices, continued to push up Japanese government bond yields.
The yield on the benchmark 10-year JGB touched 2.6 percent on Wednesday.
Brokerage firm Japan Bond Trading says that's the highest level since June 1997.
crude oil futures have been trading around $100 per barrel amid uncertainty over ceasefire talks between the United States and Iran.
That's fueled concern among investors in Japan's bond market that this could lead to higher domestic commodity prices.
Market sources say a rise in long-term yields in the US on Tuesday also impacted Japan's bond market.
They say investors in US Treasuries took the view that the Federal Reserve is less
likely to cut rates after data showed inflation spiked in April.
Japan Posts Record Current Account Surplus for 3rd Year
And Japan posted a record current account surplus for the third straight year in fiscal 2025.
The main factor was the trade balance returning to the black.
Preliminary finance ministry figures show a surplus of 34.5 trillion yen, or $219 billion for the 12 months that ended in March, up 15% from a year earlier.
The current account is a key gauge of Japan's trade and investment with the rest of the world.
A rise in exports of semiconductor-related products was a major contributor to the trade surplus.
The value of imports declined due to lower energy prices before
the Iran conflict broke out toward the end of the fiscal year.
Meanwhile, the current account surplus in March stood at almost 4.7 trillion yen, marking the 14th consecutive month in the black.
Japan Can Procure 70% of June Crude Oil Target
Japan's Prime Minister Takaichi Sanae says the country is likely to obtain at least 70 percent of its June crude oil procurement target through diversified routes and sources.
The government held a meeting of relevant ministers on Tuesday to discuss the effects of the Iran conflict.
Given the promising outlook for June, we will not be releasing a third batch of crude oil from national reserves this month.
We'll continue to diversify procurement to secure the oil the country as a whole needs, while minimizing the reduction in the nation's reserves.
Meanwhile, leading Japanese oil wholesaler Idemitsu Kosan has expressed optimism about its ability to procure crude supplies.
The situation is not exactly the same as last year, but we're not in a position where we're having extreme difficulty securing supplies.
We believe we will be able to continue procurement even under the current circumstances.
Idemitsu President Sakai Noriaki explained there are alternative routes from the United Arab Emirates and Saudi Arabia that bypass the Strait of Hormuz.
Sakai said the company is also procuring crude from other parts of the world, such as North and South America.
Japan’s March Household Spending Falls for 4th Month
Now, for another gauge of consumption, Japan's household spending in March fell for the fourth straight month.
Government officials noted that consumer sentiment is worsening.
The Internal Affairs Ministry says the outlays by households of two or more people in the month dropped 2.9% from a year earlier, adjusted for inflation.
Now, the average stood at over 334,000 yen, or roughly 2,100 dollars.
Spending on food fell 2.9 percent.
Expenditures on fishery products, eggs, and other items shrank as their prices rose.
On the upside, spending on furniture and household goods jumped 5.5 percent as disbursements on food wrap and plastic film bags increased.
The ministry says consumers were likely stocking up on petroleum-derived products amid the Iran conflict.
MARKETS
Okay, let's get a check on the markets.
♪
And that's it for Business News.
WEATHER
00:24:52 話者 1
It's time for a check on the weather with our meteorologist, Jonathan Oh.
So, Jonathan, it was another summer-like day in many parts of Japan, but we're also seeing some storms popping up. What can you tell us?
00:25:04 話者 6
Hello, for many parts of Japan, we saw temperatures soaring back into the 20s for daytime highs, but especially during spring when we have some colder air higher up in the sky and you have sudden warmth on the surface that's bubbling up, that's leading to storms that fire up around the area.
I mean, looking at the satellite perspective here in the Kanto area, you see these white puffs popping up and that's where we're seeing some of the quick heavy rainfall taking place.
Here's a look at some video to give you an idea of the tale of two different weather scenarios today.
Even though it's spring, People in the Kanto region face summer like heat, and that's also bringing unstable weather to some places Tuesday.
The Japan Meteorological Agency reported that central Tokyo saw high up over 27 degrees, which is more likely late June.
But in Daiogo town, Ibaraki Prefecture, that summer like heat caused heavy rain to suddenly hit the area in the afternoon.
And according to the weather agency, the town received 28 millimeters of rain in just one hour, which is the heaviest.
On record for the month of May, and so, as long as we continue to have these June-like temperatures, we're going to see the possibility of the showers and some of the heavier rainfall popping up, and something that could also trigger some thunderstorms as well, as you go through the next few days.
Now, on top of that...
We're going to be seeing temperatures climbing up as we go toward the weekend.
Check this out.
Tokyo topping off at 28 by Saturday and Sunday, near 30 in Osaka.
So let me emphasize, for those of you who are visiting or even just living here, that the sun rising temperatures can cause some stress on the body.
So make sure you take frequent breaks, stay hydrated, get some shade, light loose clothing.
All these things are especially important with the sudden increase in temperatures.
It can really stress the body really quickly.
Quick note on North America.
We have low pressures across the Great Lakes pushing toward the northeastern portions of the United States and also impacting portions of Canada as well.
Thunderstorms into Toronto, rain into Washington, D.C., heat down toward the south.
Even Denver looking at some thunderstorms with a high of 33 as we go through Wednesday.
Hope you have a good day wherever you are.
00:27:40 話者 1
And
That's all for this edition of NHK News Live.
Thank you very much for staying with us.
NHK World
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