Good morning

🇺🇦 Ukraine parliament votes to restore anti-corruption agencies

This story is just breaking at the time of writing. Read more on Al Jazeera

🇸🇩 Sudan Camp Children Die From Hunger

Thirteen children died last month from severe food shortages at Lagawa displacement camp in Sudan's East Darfur state, medics reported, as famine spreads through the war-torn region. The Sudan Doctors Network documented "deteriorating humanitarian conditions" and widespread malnutrition at the camp housing 7,000 people, which has faced repeated attacks by armed groups. The deaths highlight Sudan's deepening humanitarian crisis after 27 months of civil war between the army and paramilitary Rapid Support Forces, with nearly a million people now in famine conditions and cholera outbreaks spreading in Darfur. More - BBC

🇺🇸 Trump's Tariff Deadline Frenzy

President Trump unleashed a series of last-minute tariff deals and demands on the eve of his Friday deadline, imposing 15% tariffs on South Korea and a punitive 25% rate on India while criticizing Modi's Russian energy purchases. Trump shocked copper markets by exempting widely-traded forms from 50% tariffs, while announcing deals are pending for Thailand and Cambodia following their ceasefire and Taiwan after reaching "consensus." The flurry comes as most countries lack trade deals ahead of Trump's August 1 deadline for reciprocal levies ranging from 15-50%, with South Korea and Japan both securing $350 billion investment funds where 90% of profits flow back to the US. More - Bloomberg

Note - significant uncertainty remains over the details of many of these deals and the sector-specific tariffs so, despite the flurry of tariff letters, Q3 and 4 are likely to remain volatile as the details of each arrangement become clear.

Asia Stability Ratings and News Summary

More Unstable

🇦🇫 Afghanistan, 🇦🇲 Armenia, 🇧🇩 Bangladesh, 🇧🇹 Bhutan, 🇰🇭 Cambodia, 🇬🇪 Georgia, 🇮🇩 Indonesia, 🇯🇵 Japan, 🇰🇬 Kyrgyzstan, 🇱🇦 Laos, 🇲🇾 Malaysia, 🇲🇲 Myanmar, 🇳🇵 Nepal, 🇰🇵 North Korea, 🇵🇰 Pakistan, 🇵🇭 Philippines, 🇰🇷 South Korea, 🇱🇰 Sri Lanka, 🇹🇼 Taiwan, 🇹🇯 Tajikistan, 🇹🇭 Thailand, 🇹🇲 Turkmenistan

More Stable

No countries were more stable over this period

Unchanged

🇦🇿 Azerbaijan, 🇧🇳 Brunei, 🇨🇳 China, 🇹🇱 East Timor, 🇮🇳 India, 🇰🇿 Kazakhstan, 🇲🇻 Maldives, 🇲🇳 Mongolia, 🇸🇬 Singapore, 🇺🇿 Uzbekistan, 🇻🇳 Vietnam

Regional News Summary

In the realm of international relations, tensions have escalated between Thailand and Cambodia, with armed clashes reported along their shared border. This conflict has resulted in civilian casualties and the displacement of thousands, prompting international calls for restraint and mediation. The United States has offered to assist in resolving the dispute, while Malaysia has facilitated ceasefire talks between the two nations. Following negotiations, both countries have agreed to a ceasefire, although accusations of violations have persisted, leaving the situation precarious [SOURCE - BBC].

Meanwhile, India has made strides in strengthening its ties with the Maldives. Prime Minister Narendra Modi's recent visit marked a significant reset in relations, culminating in the signing of eight key agreements, including a Free Trade Agreement and a credit line of Rs 4,850 crore to bolster the Maldivian economy. Modi's participation as the chief guest at the Maldives' 60th Independence Day celebrations underscores India's commitment to supporting its neighbor's sovereignty and development [SOURCE - Livemint].

In the economic sphere, Vietnam is poised to benefit from reduced tariffs as part of a trade deal with the UK, which is expected to enhance its export capabilities. Additionally, India is looking to emulate Vietnam's approach in its trade negotiations with the US, emphasizing the need for written agreements before finalizing deals [SOURCE - Times of India].

US and Chinese officials have engaged in discussions in Stockholm to extend a tariff truce, aiming to ease trade tensions that have characterized their relationship [SOURCE - BBC].

On the technological front, Vietnam has launched a national blockchain platform, NDAChain, aimed at enhancing its digital infrastructure by 2026. This initiative is part of Vietnam's broader strategy to accelerate its technological capabilities and foster innovation [SOURCE - The Manila Times].

In the face of natural disasters, the Philippines has been grappling with severe flooding caused by Typhoon Co-May, which has resulted in significant loss of life and displacement. The government has halted schools and flights as the situation worsens, highlighting the ongoing challenges posed by climate-related events in the region [SOURCE - Malay Mail]. 

Oceania Stability Ratings and News Summary

More Unstable

🇫🇯 Fiji, 🇰🇮 Kiribati, 🇳🇷 Nauru, 🇳🇿 New Zealand, 🇵🇬 Papua New Guinea, 🇼🇸 Samoa, 🇸🇧 Solomon Islands, 🇹🇴 Tonga, 🇹🇻 Tuvalu, 🇻🇺 Vanuatu

More Stable

No countries were more stable over this period

Unchanged

🇦🇺 Australia, 🇫🇲 Federated States of Micronesia, 🇲🇭 Marshall Islands, 🇵🇼 Palau

Regional News Summary

Australia and the United States have recently made strides in their trade relations, as Australia has lifted its ban on importing US beef. This move is perceived as a victory for President Donald Trump, although economists remain skeptical about the potential for a significant increase in US beef exports to Australia. They argue that the Australian market is unlikely to be flooded with US beef despite the lifting of these trade restrictions. Nonetheless, this development is seen as a crucial step in bolstering Australia-US trade ties, particularly as Australia seeks to enhance its beef trade with the US amid uncertainties surrounding American commitments in the region [SOURCE - Michael West].

In a related context, Australia and the UK are poised to deepen their defence partnership through a 50-year treaty on nuclear-powered submarines under the AUKUS pact. This agreement comes at a time of increasing concern regarding the US's reliability as a security partner in the Indo-Pacific region. The treaty signifies a long-term commitment between Australia and the UK to collaborate closely on defence and security matters, reinforcing their strategic alliance [SOURCE - ABC News].

Meanwhile, New Zealand is grappling with significant challenges on multiple fronts. The Climate Change Commission has issued a stark warning that the country is at risk of missing its 2050 climate target due to a slowdown in efforts to reduce greenhouse gas emissions. This situation is compounded by a surge in insurance disputes, which has raised concerns about the economic implications and the need for reforms within the insurance industry [SOURCE - RNZ] [SOURCE - RNZ].

In a troubling development, alarming levels of poverty and hardship have been reported in New Zealand, with many families struggling to make ends meet. This economic strain is further highlighted by the ongoing discussions surrounding a bill aimed at criminalizing the exploitation of migrant workers, which seeks to protect vulnerable populations from abuse [SOURCE - RNZ].

Fiji is currently facing a governance crisis, with its top prosecutor in self-imposed exile in New Zealand while continuing to receive a substantial salary. This situation raises serious questions about accountability and the rule of law in the country. [SOURCE - Radio New Zealand].

In a significant ruling, the International Court of Justice has declared that climate change poses a threat to all life on Earth, establishing that countries have a legal obligation to address it. This landmark decision could have profound implications for Vanuatu, a nation particularly vulnerable to climate-related disasters. The ruling emphasizes that climate change is not only an environmental issue but also a human rights concern, potentially paving the way for legal actions against countries that fail to take adequate measures to combat climate change [SOURCE - The Conversation]

Carpe tomorrow!