Tax hikes, troop deployments, and trade realignments dominate this afternoon’s global news cycle.

🇲🇾 Malaysia

FMM Slams ‘Highly Damaging’ SST Expansion

• The Federation of Malaysian Manufacturers warned that the July 1 SST changes could harm nearly all sectors.
  
• SST now affects leasing, logistics, healthcare, and construction.
  
• Businesses may face up to RM60,000 in new annual operating costs.
  
• FMM urges delay and review, citing inflation and operational disruptions.
  

🌍 International

US Marines Deployed to Los Angeles Amid Protests

• Trump sends 700 Marines to LA following immigration-related unrest.
  
• Protests have spread to New York, Chicago, and Texas.
  
• California files a lawsuit calling Trump’s action illegal and authoritarian.
  
• A federal court will review the legality of military involvement.
  

🌏 Asia

China and ECB Push Cooperation Amid Trade Turmoil

• Premier Li Qiang meets ECB’s Lagarde to discuss financial coordination.
  
• China seeks to reform global monetary systems and reduce dependence on U.S. ties.
  
• EU-China cooperation now includes EV tariffs, rare earth access, and anti-dumping talks.