US President Donald Trump stated that American car manufacturers, including Ford and General Motors, might soon start producing weapons for the US armed forces. This includes interceptor missiles for Patriot air defense systems and Tomahawk cruise missiles, utilizing excess production capacity.
Geely Auto plans to restructure assets to eliminate excess capacity and enhance global competitiveness in its battle with BYD. The company aims to become a stronger, larger automaker with improved systemic development, governance, and international presence.
Global steel overcapacity is set to increase significantly by 2028, driven by state subsidies and expansion outside OECD countries, particularly China. The OECD warns this trend threatens competition and the viability of domestic steel industries worldwide.
The US Trade Representative proposed a 12.5% tariff on exports from 54 countries, including India and China, citing failure to prohibit goods made with forced labor. India is engaged in discussions with the US regarding this and a framework agreement.
China urged the United States to drop its latest Section 301 investigations into alleged excess capacity, calling the probe legally flawed at a Washington hearing just days before a planned summit between Donald Trump and Xi Jinping. “[It] lacks sufficient statutory basis and supporting evidence” and “circumvents several established multilateral mechanisms”, Michelle Zang, speaking on behalf of the China Chamber of International Commerce (CCOIC), a state-backed trade body, told the hearing. The...
WASHINGTON, May 4 (Yonhap) -- The Office of the U.S. Trade Representative (USTR)...
Nabil Jaafar Al-Marsoumi emphasized that "it cannot be ruled out that this move by the UAE will undermine the efforts of OPEC and OPEC+ to control and regulate oil supplies and adjust production in line with global demand"
