China has issued temporary rare earth export licenses to suppliers working with major U.S. automakers, including General Motors $GM, Ford $F, and Stellantis, providing short-term relief as the electric vehicle (EV) industry navigates continued uncertainty in global supply chains.
The proposed $14.9 billion acquisition of U.S. Steel by Japan’s Nippon Steel Corp. has reached a critical juncture, as both the Japanese firm and the Trump administration jointly petitioned a U.S. appeals court to extend an ongoing judicial pause. This move comes as the parties seek more time to finalize a deal subject to national security scrutiny. The acquisition, first announced in late 2023, has since become a flashpoint for broader debates on foreign ownership of U.S. strategic assets.
The anticipated $14.9 billion acquisition of U.S. Steel $X by Japanese giant Nippon Steel Corporation $5401.T is moving closer to fruition, as Mexico’s antitrust regulator, Cofece, is expected to resume the review of the deal this Thursday. This development removes one of the final regulatory barriers to the merger, which was initially announced in December 2023. Nippon Steel’s acquisition aims to further consolidate the global steel industry amid shifting market dynamics and increasing pressures on supply chains.
Laopu Gold Co. $6181.HK has attracted significant attention in the financial community after its stock price skyrocketed to an unprecedented 1000 Hong Kong dollars (approximately USD 127). This rare and remarkable achievement underscores the growing allure of Chinese luxury brands but raises questions about sustainability in light of soaring prices that might deter smaller investors.
In a major shift in trade policy, the United States has officially doubled tariffs on imported steel and aluminum, raising rates from 25% to 50%. Spearheaded by former President Donald Trump, this decision is aimed at safeguarding U.S. manufacturing and addressing foreign dumping practices, citing national security as justification.
Recent export restrictions imposed by China on rare earth elements have put significant pressure on global supply chains—particularly in the automotive sector. These materials, vital for producing advanced components like electric motors and safety systems, have become a geopolitical flashpoint. Autoliv Inc. $ALV, the world’s largest manufacturer of automotive airbags and seatbelts, has responded to the crisis by launching a dedicated task force to manage risks. According to CEO Mikael Bratt, the company does not anticipate any production halts in the near term.
On Tuesday, gold futures prices fell during the U.S. trading session on the New York Mercantile Exchange’s COMEX division. August delivery contracts dropped to $3,377.05 per troy ounce, reflecting a decline of 0.59% from the previous close. This downturn highlights the ongoing pressure on the precious metals market, primarily driven by the strengthening U.S. dollar.
On Tuesday, the United States announced a significant exemption for the United Kingdom from increased tariffs on steel and aluminum imports. This move came shortly after the British government declared that both countries had reached a mutual understanding on the urgent need to finalize a trade agreement aimed at reducing tariffs. President Donald Trump signed the statement exempting UK metals from the scheduled tariff hike, set to double to 50% for other nations starting June 4. This exemption underscores evolving trade relations between the US and the UK amid heightened global tariff tensions.
Gold prices retreated on Tuesday, falling nearly 1% from a four-week high as the U.S. dollar (USD) gained strength and traders exercised caution ahead of a potential phone call between former U.S. President Donald Trump and Chinese President Xi Jinping. The renewed geopolitical focus, alongside currency dynamics, pressured the precious metal, traditionally viewed as a safe-haven asset during periods of uncertainty.
Donald Trump’s announcement to raise tariffs on steel and aluminum imports from 25% to 50% marks a significant escalation in US trade protectionism. Unveiled at United States Steel Corp. $X near Pittsburgh, the initiative targets overseas producers and aims to safeguard domestic manufacturing. Trump’s remarks directly connected the punitive measures to the interests of American workers, asserting that the increased levy would deter foreign rivals from undermining US industry. In his words, the shift from a 25% to a 50% barrier turns a figurative fence into “a wall”, raising the costs and complexity for foreign suppliers.
Gold prices slipped on Friday as the U.S. dollar (USD) strengthened and markets processed new trade-related headlines and macroeconomic signals. Despite a softer-than-expected inflation report in the United States, which bolstered hopes for potential interest rate cuts, gold failed to gain traction amid the rising greenback and cautious investor sentiment.
A dynamic shift is underway in the American ETF landscape as investments move away from gold-based funds toward Bitcoin $BTCUSD equivalents. Over the past five weeks, US-listed Bitcoin ETFs recorded net inflows exceeding USD 9 billion, with BlackRock Inc.’s iShares Bitcoin Trust ETF $IBIT attracting the lion’s share. Simultaneously, gold-backed ETFs experienced outflows surpassing USD 2.8 billion, underscoring changing asset preference among institutions and private investors.
