US producer prices rise 2.6% annually with slight 0.1% monthly increase in May
US producer prices rose 2.6% annually in May, matching market expectations, with a modest 0.1% increase from April, the US Bureau of Labor Statistics reported.
China announced on Tuesday it would extend its investigation into European Union pork imports by six months, just days before a final decision was expected. The move comes as Beijing and Brussels edge closer to resolving a dispute over EU tariffs on Chinese electric vehicles (EVs).
The anti-dumping probe, which began in June 2024, affects over $2 billion worth of EU pork exports — primarily from Spain, the Netherlands, and Denmark — and is widely seen as retaliation for the EU’s restrictions on Chinese EVs.
In a statement, China’s Commerce Ministry cited the "complexity" of the case as the reason for extending the review period until December 16.
The decision signals potential coordination with broader trade negotiations. China recently expanded market access for Spanish cherries and pork products and promised faster export licensing for rare earth magnets, suggesting a willingness to ease trade tensions.
Much of the EU's pork exports to China consist of offal — pig ears, noses, and feet — which are considered delicacies in Chinese cuisine but have limited value in European markets.
In 2024, China imported $4.8 billion in pork products, with more than half coming from the EU. Spain remains the top European supplier by volume.
Analysts view the delay as a tactical step by Beijing, giving more time for trade talks while maintaining pressure on Brussels amid sensitive economic and diplomatic negotiations.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
A 30-year-old woman was shot by police in Munich on Saturday evening after stabbing two people at Theresienwiese, a central park best known for hosting Oktoberfest.
Kazakhstan and the UK are strengthening defense ties with a new Military Cooperation Plan, focusing on peacekeeping and military education.
Mexican President Claudia Sheinbaum has condemned U.S. immigration raids and National Guard deployment in Los Angeles, calling for reforms instead of enforcement.
U.S. President Donald Trump has announced plans to issue a new executive order aimed at addressing labor shortages in the agriculture and tourism sectors, which have been affected by his administration’s stricter immigration policies.
Within the framework of the international event on energy efficiency held in Brussels, Azerbaijan’s Minister of Energy, Parviz Shahbazov, met with the Executive Director of the International Energy Agency (IEA), Fatih Birol.
Azerbaijan is advancing its green energy agenda, with bold targets and regional projects discussed at the IEA’s global energy efficiency conference.
Kazakhstan and the European Union are bolstering their economic partnership, with a recent high-level meeting paving the way for expanded collaboration in trade, investment, and sustainable development.
Kazakh Tourism National Company has introduced a draft concept to transform the historic Baikonur cosmodrome into a future-focused destination for scientific and industrial tourism. The plan aims to attract visitors year-round, beyond just the times of rocket launches.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment