Latest news with #ChineseEmbinUS
See - Sada Elbalad
3 days ago
- Business
- See - Sada Elbalad
Trump Announces New Round of US-China Trade Talks
Taarek Refaat Beijing said that US President Donald Trump had a phone call with Chinese President Xi Jinping on Thursday. According to the Chinese Foreign Ministry and the Chinese Embassy in the United States, Trump initiated the call. US stocks opened higher on Thursday, buoyed by investor hopes that a phone call between Presidents Donald Trump and Xi Jinping would break the deadlock in trade talks between the two countries. However, those gains quickly faded as traders awaited more details about the call. 🇨🇳🇺🇸Chinese President Xi Jinping on Thursday held phone talks with U.S. President Donald Trump at the latter's request. #china #US — Chinese Embassy in US (@ChineseEmbinUS) June 5, 2025 This deadlock between the world's two largest economies—which have traded nearly $600 billion in 2024—is weighing on Trump's broader tariff policy, which is already having tangible effects. Trump was reportedly eager to speak with Xi, given the rapid deterioration in trade relations between the two countries over the past week. Although the two sides agreed, after constructive talks in Switzerland last month, to a temporary reduction in tariffs, this fragile agreement has recently been threatened. The Trump administration has publicly accused Beijing of dragging its feet in implementing its pledge to approve more exports of strategic minerals, a key provision reached during the Geneva negotiations. China has expressed strong dissatisfaction with a recent US decision to impose additional restrictions on Chinese student visas and accused the Trump administration of undermining progress on trade by issuing a warning to US industry against using Chinese semiconductors. The Trump administration has also imposed additional restrictions on microchip exports, a move the White House says is necessary to protect national security, while Beijing considers a purely punitive measure. Thursday's call between the two presidents is their second direct contact this year. They previously spoke by phone on January 17, just before Trump's inauguration. Prior to the recent call, Trump posted a message on social media praising President Xi, but also revealing some of his frustration. He wrote on Wednesday morning: "I like President Xi, always have and always will, but he is very tough and very difficult to make a deal with!!!" China is the primary target of Trump's efforts to use high, unilateral tariffs, ostensibly to rebalance America's trade relations with the rest of the world. Trump raised general tariffs on Chinese imports to 145% last April, while temporarily reducing tariffs on most other countries to 10%. Beijing responded with retaliatory tariffs of 125% on American goods. These measures led to a near-trade embargo between the two sides. However, the stalemate began to unravel in mid-May, following talks in Geneva that both sides described as "successful and constructive." read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream
News18
05-05-2025
- Automotive
- News18
BYD Shenzhen Becomes Largest Vehicle Carrier Ever, Aims For Global EV Market Domination
Last Updated: The BYD 'Shenzhen,' which is transporting a record supply of new energy vehicles, has started its first journey to Brazil. A major milestone has been reached as the BYD 'Shenzhen" officially sets sail on its first journey. It can carry 9,200 vehicles, which is the size of 20 football fields, making it the largest car transport vessel in the world. The Shenzhen, which departed on April 27, is presently travelling to Brazil with more than 7,000 new energy vehicles (NEVs), including a combination of plug-in hybrid electric cars (PHEVs) and electric vehicles (EVs). This is the fourth vehicle carrier that BYD has launched since launching its first, Explorer No. 1, in January 2024. Shenzhen joins an outstanding fleet as the company continues to broaden its worldwide reach. 🚢 WORLD'S LARGEST car carrier sets sail!China's homegrown #BYDShenzhen (9,200-vehicle capacity) departed Taicang Port, loaded with 7,000+ #NEVs ⚡🚗, beginning its 30+ day ocean voyage 🌊 to #Brazil 's Itajaí Port! #madeInChina #Chinatech — Chinese Embassy in US (@ChineseEmbinUS) April 28, 2025 The Changzhou and Hefei, which can both carry 7,000 vehicles, were launched later, while the Explorer No. 1 has already made many trips to markets in Germany, Spain, and now Brazil. By early 2026, two more ships are anticipated to be put into service, according to Softonic. Built by China Merchants Group, the new BYD Shenzhen is the largest roll-on, roll-off (RORO) ship in the world and is named after the city where BYD is headquartered. Just a week ago, it was put into operation. Having 16 decks, it is 219.9 meters long and 37.7 meters wide. 19 knots is its peak speed. It uses liquid natural gas in addition to regular marine fuel to lower pollution and increase efficiency. Special paint has been applied to lessen the drag's impact. Its battery energy storage technology, which BYD has installed, can further lessen its impact on the environment by supplying power while docked. The Shenzhen highlights BYD's dedication to global expansion and shows the company's willingness to support sustainable development in Brazil as it aims to take a sizable portion of the market. As per Softonic, BYD has experienced tremendous success in the first quarter of 2025, selling over 206,000 NEVs overseas, more than double the quantity sold in the same time frame the previous year. Vehicles in the company's Brazilian portfolio include the reasonably priced Dolphin Mini, which starts at about $20,000 (around Rs 14 lakh), and the recently introduced hybrid pickup truck, the Shark, which costs $66,900 (about Rs 56 lakh). With the impending launches of the Changsha and Xi'an, BYD intends to accelerate its global expansion soon, focusing on important markets in Europe, Southeast Asia, and beyond. BYD hopes to considerably increase its footprint in the global automobile market with this bold plan. First Published: May 05, 2025, 16:12 IST
