Latest news with #supplychain
Yahoo
6 hours ago
- Business
- Yahoo
Government Contracting Symposium to be held at Vibrant Arena, Moline
The Iowa-Illinois Chapter of the National Defense Industrial Association (NDIA) will host the 16th Annual Midwest Government Contracting Symposium on Tuesday, June 3 and Wednesday, June 4 at the Vibrant Arena in Moline, according to a news release. This year's event focuses on examining the recent current events throughout the world and how the Defense Department will sustain and grow the U.S. Industry Base, Supply Chain, and Mission Command. This year's symposium will give attendees insight into the latest information in governmentcontracting and Army Doctrine, as well as allow them to take advantage of the chance to interact with key government and industry experts. 'This symposium offers two, jam-packed days of valuable content you won't want to miss,' says President of the IA-IL NDIA Chapter Natalie Linville-Mass. To register, visit here. Within the Quad Cities region, there are thousands of individuals and businesses contracting with organizations on the Rock Island Arsenal. The Quad Cities is ranked as the third most industrially diverse area in the United States, making this event crucial to its attendees and sponsors. The symposium grants these groups the opportunity to gather once a year and work to advance the goals of The Defense Department in this area. About the Iowa/Illinois Chapter of National Defense Industrial Association (NDIA) The National Defense Industrial Association is America's leading Defense Industry Association promoting national security. It is a non-partisan, non-profit association headquartered in Arlington, Virginia. The Iowa Illinois Chapter was founded in 1945 as an arm of the national association. It provides geographic coverage for Iowa and the western 1/3 of Illinois, furthering the national objectives and policies. Its mission is to champion issues contributing to the strength, resiliency, and capacity of the industrial base; build a vigorous, responsive. and collaborative community in support of defense and national security; and convene legal and ethical forums for an exchange of ideas, information, viewpoints, and capabilities. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Japan Times
19 hours ago
- Automotive
- Japan Times
Carmakers warn China's rare-earth curbs could halt production
Global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China — used in everything from windshield-wiper motors to anti-lock braking sensors — that could force the closure of car factories within weeks. In a previously unreported May 9 letter to Trump administration officials, the head of the trade group representing General Motors, Toyota, Volkswagen, Hyundai and other major automakers raised urgent concerns. "Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras," the Alliance for Automotive Innovation wrote the Trump administration. The letter, which also was signed by MEMA, The Vehicle Suppliers Association, added that, without those essential automotive components, it would only be a matter of time before U.S. vehicle factories are disrupted. "In severe cases, this could include the need for reduced production volumes or even a shutdown of vehicle assembly lines," the groups said. Both Alliance CEO John Bozzella and MEMA CEO Bill Long said on Friday the situation was not resolved and remained a concern. They expressed gratitude for the Trump administration's high-level engagement to prevent disruption to U.S. auto production and the supply chain. Bozzella noted that the automotive issue was on the agenda during Treasury Secretary Scott Bessent and U.S. Trade Rep. Jamieson Greer's talks with their Chinese counterparts in Geneva earlier this month. Greer told CNBC on Friday that China had agreed to lift restrictions on the exports of rare-earth magnets to U.S. companies and was not moving fast enough to grant access for key U.S. industries. "We haven't seen the flow of some of those critical minerals as they were supposed to be doing." China — which controls over 90% of global processing capacity for the magnets used in everything from automobiles and fighter jets to home appliances — imposed restrictions in early April requiring exporters to obtain licenses from Beijing. Rare-earth magnet exports from China halved in April as companies grappled with an opaque application process for permits that sometimes require hundreds of pages of documents. In a social-media post Friday, President Donald Trump accused China of violating terms of a deal reached this month to temporarily dial back tariffs and other trade restrictions. "China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH U.S.," Trump said in a post on his Truth Social platform. China's embassy in Washington responded by saying it was the U.S. that was abusing export controls in the semiconductor sector. A U.S. official with knowledge of the talks said that only tariffs and Chinese non-tariff countermeasures were covered in Geneva talks, and that U.S. export controls were not part of the deal. The official also expressed frustration that Beijing appeared to be moving slowly on promises to issue rare-earth export licenses, which could kick start export control retaliation by Washington if automakers vulnerable to shortages of the minerals are forced to halt production. While a handful of licenses have been granted, including to some Volkswagen suppliers, Indian automakers say they still have received none and will have to stop production in early June. German auto parts maker Bosch said this week that its suppliers have been bogged down by China's more-rigorous procedures to receive export licenses. A Bosch spokesperson described the process as "complex and time-consuming, partly due to the need to collect and provide a lot of information."
Wall Street Journal
20 hours ago
- Business
- Wall Street Journal
Bristol CEO: Pharma Tariffs Must Not Jeopardize Medicine Supplies
Bristol-Myers Squibb Chief Executive Chris Boerner said at The Wall Street Journal's Future of Everything festival on Thursday that potential tariffs targeting the drug industry from the Trump administration must not create supply constraints. Bristol and other drugmakers are bracing for tariffs targeting pharmaceuticals shipped to the U.S. from other countries. The administration has been conducting an investigation into such levies, and analysts expect them to be announced in coming weeks. 'The most important thing we've been doing on this topic is engaging with the administration to educate them on how if you're going to do tariffs—it may not be the policy we would have preferred—but if you're going to do it, do it without messing things up,' he said.
CNN
a day ago
- Business
- CNN
Rampaging raccoons add to Airbus factory headaches
A family of raccoons recently broke into an Airbus factory in Canada, adding an unusual headache to the planemaker's more familiar troubles with parts shortages and supply chain snags. Five of the baby mammals were found inside the plant near Montreal, which produces A220 airliners, sources told Reuters, after their mother was spotted climbing the landing gear of a jet being produced for a European airline. 'A guy came face to face with the raccoon, after having entered the plane,' a factory worker said. A second source said damage included urine and chewed wires. Workers on the overstretched assembly line had to be pulled off normal jobs to undertake the time-consuming task of quarantining the first jet and inspecting for damage from the furry intruders, which are known for foraging in trash cans for food. Airbus confirmed the discovery of a family of raccoons on one plane but declined to say whether they had further delayed production or caused any damage. 'The aircraft is pursuing its assembly process,' a spokesperson said, adding measures had been put in place to ensure safety and quality. While the incident is only a temporary headache, it comes as Airbus is scrambling to speed up production, having warned airlines that it faces another three years of delivery delays as it works through a backlog of supply-chain problems. Recent snags include missing engines, late arrivals of components and delayed interiors, Airbus has said. But rarely have its contingency plans had to deal with stray omnivores at the rural plant. 'We had to open everything back up to inspect,' explained the second source. Airbus said the animals had been removed to a safe location.
Reuters
a day ago
- Automotive
- Reuters
Exclusive: China magnet pinch threatens car production, automakers warn
WASHINGTON, May 30 (Reuters) - U.S. auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks. In a previously unreported May 9 letter to Trump administration officials, the head of the trade group representing General Motors (GM.N), opens new tab, Toyota (7203.T), opens new tab, Volkswagen ( opens new tab, Hyundai ( opens new tab and other major automakers raised urgent concerns. "Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras," the Alliance for Automotive Innovation wrote the Trump administration. The letter, which also was signed by MEMA, The Vehicle Suppliers Association, added that, without those essential automotive components, it would only be a matter of time before U.S. vehicle factories are disrupted. "In severe cases, this could include the need for reduced production volumes or even a shutdown of vehicle assembly lines," the groups said. Both Alliance CEO John Bozzella and MEMA CEO Bill Long told Reuters on Friday the situation was not resolved and remained a concern. They expressed gratitude for the Trump administration's high-level engagement to prevent disruption to U.S. auto production and the supply chain. Bozzella noted that the automotive issue was on the agenda during Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer's talks with their Chinese counterparts in Geneva earlier this month. Greer told CNBC on Friday that China had agreed to lift restrictions on the exports of rare-earth magnets to U.S. companies and was not moving fast enough to grant access for key U.S. industries. "We haven't seen the flow of some of those critical minerals as they were supposed to be doing." China - which controls over 90% of global processing capacity for the magnets used in everything from automobiles and fighter jets to home appliances - imposed restrictions in early April requiring exporters to obtain licenses from Beijing. Rare-earth magnet exports from China halved in April as companies grappled with an opaque application process for permits that sometimes require hundreds of pages of documents. While a handful of licenses have been granted, including to some Volkswagen suppliers, Indian automakers say they still have received none and will have to stop production in early June. German auto-parts maker Bosch said this week that its suppliers have been bogged down by China's more-rigorous procedures to receive export licenses. A Bosch spokesperson described the process as "complex and time-consuming, partly due to the need to collect and provide a lot of information."
