U.S., China reach rare earths, tariff pause for Trump and Xi to consider
Top U.S. and Chinese officials on Sunday agreed on a trade deal framework for Presidents Trump and Xi to finalise this week, pausing new U.S. tariffs ...
Chinese automaker Chery has denied an industry-ministry audit that disqualified more than $53 million in state incentives for thousands of its electric and hybrid vehicles, insisting it followed official guidance and committed no fraud.
Chery said on Saturday it had “truthfully reported” difficulties obtaining end-sale certificates for cars sold more than five years ago and had applied for the incentives only after regulators advised it to submit the paperwork for verification.
China’s Ministry of Industry and Information Technology (MIIT) last month ruled that 21,725 vehicles declared by several manufacturers did not qualify for new-energy subsidies between 2016 and 2020 because of missing documents or unmet mileage targets. The decision covered 7,663 Chery vehicles and 14,062 produced by rivals including BYD, disqualifying funding worth about $53 million in total—almost 60 % of all contested claims.
MIIT did not allege fraud, nor did it outline penalties, although Beijing has previously required companies to repay subsidies when mileage rules are breached. Chery said the audit involved applications that had not yet been paid, so no reimbursement would be necessary.
BYD, China’s largest electric-vehicle maker, did not respond to Reuters questions.
Beijing’s subsidy scheme, which ran until 2022, helped make China the world’s biggest electric-car market; the country accounted for more than 60 % of global EV sales last year, according to the International Energy Agency. Regulators have since stepped up compliance checks amid concerns about abuse of public funds.
Industry analysts said the latest findings could tighten scrutiny of manufacturers’ reporting but were unlikely to dent consumer demand in a market where battery-powered cars now make up more than one in three new registrations.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
Top U.S. and Chinese officials on Sunday agreed on a trade deal framework for Presidents Trump and Xi to finalise this week, pausing new U.S. tariffs and China’s rare earth restrictions while resuming U.S. soybean exports.
Brazilian President Luiz Inácio Lula da Silva said on Sunday that he had a productive meeting with U.S. President Donald Trump, and both sides agreed to begin immediate discussions on tariffs and other trade-related issues.
Kosovo’s parliament failed to elect Albin Kurti as prime minister on Sunday, raising the likelihood of a snap election to resolve the political stalemate that has persisted since the inconclusive parliamentary vote in February.
At least two workers were killed in a fire that broke out on an oil pipeline at Iraq’s Zubair oilfield on Sunday, according to oilfield officials.
Hurricane Melissa has intensified into a Category 4 storm, the U.S. National Hurricane Center (NHC) announced on Sunday, with maximum sustained winds reaching 140 mph (220 km/h).
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