Chinese Lithium Prices and Shares Rise After Zangge Mining Halt
Zangge Mining Co. said a fully owned unit received a notice on Wednesday from the government in Haixi in the western province of Qinghai to immediately stop illegal mining activities, and to adhere to the rules that govern lithium resources.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Trump says no imminent plans to penalize China for buying Russian oil
WASHINGTON (Reuters) -U.S. President Donald Trump said on Friday he did not immediately need to consider retaliatory tariffs on countries such as China for buying Russian oil but might have to "in two or three weeks." Trump has threatened sanctions on Moscow and secondary sanctions on countries that buy its oil if no moves are made to end the war in Ukraine. China and India are the top two buyers of Russian oil. The president last week imposed an additional 25% tariff on Indian goods, citing its continued imports of Russian oil. However, Trump has not taken similar action against China. He was asked by Fox News' Sean Hannity if he was now considering such action against Beijing after he and Russian President Vladimir Putin failed to produce an agreement to resolve or pause Moscow's war in Ukraine. "Well, because of what happened today, I think I don't have to think about that," Trump said after his summit with Putin in Alaska. "Now, I may have to think about it in two weeks or three weeks or something, but we don't have to think about that right now. I think, you know, the meeting went very well." Chinese President Xi Jinping's slowing economy will suffer if Trump follows through on a promise to ramp up Russia-related sanctions and tariffs. Xi and Trump are working on a trade deal that could lower tensions - and import taxes - between the world's two biggest economies. But China could be the biggest remaining target, outside of Russia, if Trump ramps up punitive measures. Solve the daily Crossword
Yahoo
2 hours ago
- Yahoo
Air Cargo Capacity ‘Correction' in Play as Tariff Deadlines Come and Go
Airlines are downsizing cargo capacity now that the tariff deadlines for U.S. trade partners have passed, with third-party logistics (3PL) provider C.H. Robinson signaling a correction in the air freight market. In July, cargo airlines had positioned additional flights and capacity to the U.S. to handle front-loading demand up until the Aug. 1, 2025 negotiation deadline to set country-specific tariffs. But with the deadline coming and going, and the separate Aug. 12 China tariff deadline getting extended 90 days, the extra capacity no longer has shippers concerned about rushing goods into the U.S. More from Sourcing Journal PPI Jumps in July, Underscoring Growing Costs for US Manufacturers-And Likely Future Price Hikes for Consumers Port of LA Handles Record Volumes, but Imports 'May Have Just Peaked' Here's Why Consumers Keep Spending Despite Tariffs 'With most importers having completed inventory buildup in July, carriers now face the challenge of right-sizing capacity to match new demand levels,' said the C.H. Robinson report. 'The correction is particularly evident in markets where tariff-related inventory rushing created temporary capacity shortages earlier this year. Carriers are implementing flight cancellations and route diversions to fill remaining services and maintain profitability.' Data suggests that the air freight market hasn't collapsed, but has remained stagnant over the past month. According to air cargo market intelligence firm WorldACD, the two-week stretch from July 21 to Aug. 3, capacity remained flat from the two-week stretch prior from July 7 to July 20. On a year-over-year basis, capacity numbers are still up 5 percent, the company said. Demand, measured by chargeable weight, dropped 2 percent in the two-week-over-two-week timeline. 'The fundamental challenge has been one of timing: With new demand in July, carriers increased capacity. But importers completed inventory building earlier than expected, leaving airlines with excess capacity they must now remove to maintain profitability,' said C.H. Robinson in the update. 'Asian carriers are particularly affected as the traditional peak season for electronics and consumer goods shipments to U.S. and European markets has been disrupted by the front-loading cycle, forcing airlines to reassess capacity allocation across their networks.' Although the International Air Transportation Association (IATA) hasn't released its July capacity and demand data yet, previous months suggested that the air freight market has continued to be bogged down by the usual market-leading Asia-to-North America trade lane. That lane was impacted not just by the on-and-off tariffs starting in April, but also the closure of the de minimis trade exemption for Chinese goods on May 2. In May, cargo tonne-kilometers (CTK) declined 10.7 percent in the weeks after the duty-free provision was closed. The next month, cargo demand dipped 4.7 percent. Although the Trump administration is expanding the de minimis ban to packages from all countries as of Aug. 29, roughly 60 percent of the eligible imports came from China, so any front-loading efforts related to the provision are expected to have less of an impact on demand and capacity. Izzy Rosenzweig, CEO of e-commerce fulfillment specialist Portless, said in a recent webinar that countries like Vietnam and India were 'still in the early days' when it came to direct-to-U.S. supply chains, with their de minimis-eligible freight often going to warehouses in Canada and Mexico. 'They were the biggest users outside of China using de minimis, so they kept using it post May 2,' Rosenzweig said, noting that cross-border trucking was taking more of a demand hit than air freight. 'I don't expect a massive shift in air cargo after Aug. 29. We're already past that,' said Rosenzweig. 'Aircraft shifted more to where dollars are being spent from the big spenders, which is more into Europe.' According to C.H. Robinson, peak season surcharges are being implemented on key trade lanes out of Asia where capacity is still tight, particularly for high-technology and time-sensitive cargo requiring premium handling. Obtaining spot space for time-sensitive cargo now requires lead times of more than one week, normalizing from the immediate space availability earlier this year when the front-loading began. However, the jury is still out on expectations for capacity and demand, particularly until China and the U.S. officially finalize a trade deal. 'For air cargo, the U.S.-China tariff extension could mean some air cargo front-loading in late October and early November if no agreement is in place by then, as the Nov. 10 expiration would kick in just as the typical air cargo peak season would normally begin,' said Judah Levine, head of research at Freightos, in a Thursday morning update. Levine noted that additional U.S. tariff decisions on semiconductors and pharmaceuticals are expected soon, and 'depending on the details, could have implications for air cargo volume timing and levels for these sectors as well.'
Yahoo
2 hours ago
- Yahoo
Consumers Stand to Pay Up to 40% More for Shoes, Apparel Due to Tariffs
Consumers are facing the highest tariffs since the Great Depression, and they stand to lose an average of $2,400 in household income this year due to the effects of trade turmoil. That's according to Friday's Yale Budget Lab State of U.S. Tariffs report, which indicated that consumers currently face on overall average tariff rate of 18.3 percent (the highest since 1934), and after consumption shifts, that rate will stand at 17.3 percent, the highest since 1935. More from Sourcing Journal Trump Threatens EU With 35% Tariffs if Trade Bloc Forgoes $600B US Investment 76% of UK Retailers Probing New Export Markets Due to Tariff Turbulence EU Delays Duties on US, While India and China Negotiations are Snarled by Russia Conflict President Donald Trump's 2025 tariff regime disproportionately impacts fashion products, with shoppers facing 40 percent higher footwear and accessories prices and 38 percent higher apparel prices in the short term, according to the Budget Lab's analysis of commodity prices. The researchers surmised that shoes and clothing stand to remain elevated in price, at 19 percent and 17 percent, respectively, for the long haul. The price levels resulting from the 2025 tariffs will rise by an average of 1.8 percent in the short run, assuming that the Federal Reserve declines to react to the new duty rates. Meanwhile, the U.S. gross domestic product (GDP) growth over this year and next year will be 0.5 percentage points lower each year. Over time, the country's economy will shrink by 0.4 percent (or the equivalent of $120 billion annually in 2024). According to the researchers, 'In the long-run, tariffs present a trade-off' for U.S. GDP. On one hand, American manufacturing output stands to grow by 2.1 percent, 'but these gains are more than crowded out' by contractions in other sectors, like construction output (slated to contract by 3.5 percent) and agriculture (expected to decline by 0.9 percent). All tariffs issued to date this year will raise $2.7 trillion between 2026 and 2035, but there stand to be negative dynamic revenue effects—like reduced consumer spending and tariff retaliation from trade partners—that bring down that revenue to $2.2 trillion, a loss of $466 billion. Thursday evening's tariff shakeup informed these projections, when the Trump administration released a new list of 'reciprocal' duty rates—some higher, and some lower—than those announced in April. The implementation of the rates—aside from 35-percent duties on Canada, effective on Friday—will be delayed until Aug. 7. Notably, negotiations with certain key apparel sourcing partners are still in flux. Trump announced last week that Mexico and the U.S. plan to extend their current deal (by which the country to the South pays 25-percent tariffs on goods not covered by the free trade agreement), by three months to leave breathing room for further talks. Meanwhile, the expiration of the bilateral pause on retaliatory duties between the U.S. and China ends Aug. 12, though trade officials from both nations have been heavily engaged in discussions about whether to extend the pause or broker a new agreement. While most of the tariff rates announced last week are higher than those announced by the president on 'Liberation Day,' burgeoning apparel sourcing destinations like Bangladesh, Cambodia, Malaysia, Sri Lanka and Thailand will now see lower rates than previously threatened. Sign in to access your portfolio
