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President Donald Trump said Wednesday he was willing to extend the deadline for countries to reach a trade deal with the United States, but he doesn’t think it will be necessary.

At the same time, he also indicated that in one to two weeks his administration would be sending out letters telling countries ‘what the deal is.’ 

Trump made the remarks ahead of a performance of ‘Les Misérables’ that he attended at the Kennedy Center in Washington with the first lady.

‘I would,’ Trump said when asked if he would be willing to extend the July 8 deadline for countries to negotiate a trade deal or else face steep tariffs. ‘But I don’t think we’re going to have that necessity,’ the president added, telling reporters ‘we’re rocking in terms of deals’ right now.

Shortly after announcing sweeping tariff policies on April 2 for virtually every U.S. trading partner, the Trump administration chose to institute a 90-day pause to give countries a chance to make a deal with the United States. 

Trump noted during the gaggle with reporters ahead of Wednesday’s Kennedy Center performance that the United States remains in talks with about 15 countries with whom it is still trying to cement a deal. But the president said that he intends to send letters to these partners setting unilateral tariff rates if a deal is not reached.   

‘We’re dealing with Japan. We’re dealing with South Korea. We’re dealing with a lot of them. We’re dealing with about 15 countries. But as you know, we have about 150-plus, and you can’t [make a deal with all of them]. So we’re going to be sending letters out in about a week and a half, two weeks, to countries and telling them what the deal is.’

‘At a certain point, we’re just going to send letters out … saying this is the deal, you can take it or leave it,’ Trump added.

Highly anticipated trade talks with China held in London this week led to a preliminary agreement between the world’s two biggest economic powers, but the ‘framework’ is still pending final approval from Chinese President Xi Jinping and Trump.

‘We made a great deal with China. We’re very happy with it,’ Trump told reporters at the Kennedy Center on Wednesday evening. ‘We have everything we need, and we’re going to do very well with it. And hopefully they are, too.’

This post appeared first on FOX NEWS

In a digital world where alliances can shift as quickly as a viral tweet, tech visionary Elon Musk found himself in an uncharacteristic position on Wednesday: expressing public regret.

The target of his digital mea culpa? None other than US President Donald Trump, a figure with whom Musk had, until very recently, shared a notably close and strategically significant partnership.

This rare admission of regret from the often-unflinching billionaire signaled a potential, if tentative, de-escalation in an explosive public feud that had captivated onlookers and rattled market nerves.

The preceding week had been nothing short of a political soap opera.

A once-tight bond, which saw Musk appointed to spearhead the ambitious, budget-slashing Department of Government Efficiency (DOGE) under Trump’s second term, had spectacularly imploded.

The fallout left investors and political commentators alike anxiously pondering the future trajectory of Musk’s sprawling empire, particularly his flagship companies, Tesla and SpaceX.

Then came Musk’s concise, yet loaded, statement on his X social media platform: “I regret some of my posts about President @realDonaldTrump last week. They went too far.”

The spark: a ‘disgusting abomination’ and White House retribution

The fuse for this public detonation was lit by Musk’s fiery denunciation of the Trump administration’s proposed spending bill.

This sprawling piece of legislation, a cornerstone of Trump’s domestic agenda, was met with Musk’s unvarnished scorn.

He didn’t just disagree; he labeled it a “disgusting abomination” and, in a move that many saw as crossing a political Rubicon, urged for political retribution against any Republican lawmakers who dared to support it.

Such a direct challenge, especially from a figure of Musk’s stature and influence, was never going to pass unnoticed within the fortified walls of the White House.

And notice, they did.

Following the heated drama, President Trump, who is never one to shy away from a public confrontation, delivered a stern counterpunch during an NBC News interview on Saturday.

He warned Musk of “very serious consequences” if the billionaire actually acted on his apparent threat to bankroll primary challengers against incumbent Republican lawmakers who had backed the contentious bill.

“He’ll have to pay very serious consequences if he does that,” Trump declared, his words carrying an air of ominous ambiguity as he declined to specify what form these consequences might take.

Any hope of a swift reconciliation was decisively quashed when the President added, with characteristic bluntness, “I have no intention of speaking to him.”

The acrimony was a dizzying reversal from the public bonhomie of just a week prior.

Trump had then been lauding Musk’s service as the head of DOGE, an advisory body conceived to inject a dose of Musk’s famed efficiency into the sprawling federal bureaucracy.

But Musk had abruptly stepped down, citing deep-seated disagreements over the fundamental direction of government spending.

It was a move that, in retrospect, served as the prelude to his open, scathing criticism of the President’s signature legislation.

Musk’s initial critical posts online had triggered an immediate and forceful pushback from the administration.

This further culminated in Trump accusing his former ally of ingratitude and, perhaps more alarmingly for Musk’s shareholders, threatening a review of lucrative federal contracts awarded to his companies.

The Epstein gambit: an incendiary claim, a swift deletion, and lingering questions

The already white-hot tensions between the two titans then escalated to a near inferno.

Musk, in a series of posts that sent shockwaves across the internet, directly linked President Trump to the deceased and disgraced financier Jeffrey Epstein, who had died by suicide in federal custody in 2019 while awaiting trial on sex trafficking charges.

“Time to drop the really big bomb: (Trump) is in the Epstein files,” Musk typed into the digital ether, alluding to unreleased government documents rumored to detail Epstein’s extensive network of high-profile associates.

He didn’t stop there.

Musk further alleged that these supposed documents were being deliberately suppressed, hinting that they might contain politically damaging information about the President himself.

Musk offered no shred of evidence to back this explosive claim, nor did he specify which “files” he was referencing.

In a tantalizing follow-up, he urged his millions of followers to “mark this post for the future,” cryptically adding, “The truth will come out.”

The digital bombshell, however, had a remarkably short fuse.

By Saturday morning, both incendiary posts had vanished from Musk’s X account, deleted without a word of explanation, leaving a void filled with speculation and unanswered questions.

President Trump, when confronted with Musk’s allegations by NBC, brushed them aside as “old news.”

“Even Epstein’s lawyer said I had nothing to do with it,” he retorted.

It’s a matter of public record that President Trump has acknowledged knowing Epstein socially in the past, but he has consistently and vehemently denied ever visiting Epstein’s notorious private island or participating in any illegal activity.

Crucially, publicly released documents pertaining to the Epstein case do not accuse the President of any wrongdoing.

Musk’s subsequent deletion of the posts, followed by his midweek expression of regret, now suggests a calculated attempt to dial back the intensity of the confrontation.

Whether this signals a genuine desire for rapprochement, a strategic retreat in the face of presidential power, or simply Muskian unpredictability, remains to be seen.

The digital dust may be settling, but the underlying rifts in this high-stakes relationship may well linger, casting a long shadow over the intersection of tech, politics, and power.

The post After Epstein ‘bomb’ & Trump’s wrath, Elon Musk admits he ‘went too far’ in feud appeared first on Invezz

Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces May 2025 sales volumes and an operational update, including results from our 183-D4 well. Based on cased hole logs and logs while drilling, the well encountered 61 metres total vertical depth (‘TVD’) potential net natural gas pay in the Caruaçu Formation 106 metres updip of our 183-A3 well.

President & CEO, Corey C. Ruttan commented:

‘May sales included the first full month of production from our first two wells drilled in Western Canada averaging 346 bopd gross (173 bopd net), exceeding our pre-farmin expectations and we are looking forward to drilling our next two wells here starting this summer. We are also encouraged by our 183-D4 results and expect to have this well on production in Q3 to fuel continued production growth in Brazil .’

May Sales Volumes

Natural gas, NGLs and crude oil sales:

May

2025

April

2025

Q1

2025

Brazil:

Natural gas (Mcfpd), by field:

Caburé

10,800

12,636

11,710

Murucututu

1,500

844

2,093

Total natural gas (Mcfpd)

12,300

13,480

13,803

NGLs (bopd)

111

126

135

Oil (bopd)

10

Total (boepd) – Brazil

2,161

2,373

2,446

Canada:

Oil (bopd) – Canada

173

90

Total Company – boepd (1)

2,334

2,463

2,446

(1)

Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes.

May sales volumes in Brazil averaged 2,161 boepd, including natural gas sales of 12.3 MMcfpd and associated natural gas liquids sales from condensate of 111 bopd, based on field estimates. Sales volumes decreased 9% compared to April due to turnarounds at both Alvopetro facilities and Bahiagás end user plants, which impacted demand in the month. In Canada , with a full month of production in May, Alvopetro’s net 50% share of oil sales volumes increased to 173 bopd, bringing the Company’s total sales to 2,334 boepd, based on field estimates.

Operational Update

183-D4 Well Results

We have now completed the sidetrack and drilling of our 183-D4 well on our 100% Murucututu natural gas field. The well was drilled to a total measured depth of 3,072 metres and has been cased and cemented. The well encountered the Caruaçu Member of the Maracangalha Formation 106 metres structurally updip of our 183-A3 success.

Based on cased-hole gamma ray logs and normalized gas while drilling, the well encountered potential natural gas pay in the Caruaçu Member of the Maracangalha Formation, with an aggregate 61 metres of potential natural gas pay between 2,439 and 2,838 meters TVD.

Based on these drilling results, we plan to complete the well in up to 5 intervals and expect the well to be on production to the field production facility in the third quarter.

Caburé Unit Development Drilling Program

Our planned Caburé Unit development drilling program has commenced. The first well has now been spud and we expect to have four wells drilled by the end of the third quarter.

Western Canadian Capital Plan

In Western Canada , well pad construction for our next two wells has commenced and we expect the wells to be drilled in the third quarter.

Annual General Meeting

Alvopetro’s annual general and special meeting (the ‘Meeting’) will be held on Wednesday, June 18, 2025 at the offices of Torys LLP (Suite 4600, 525 8 th SW, Calgary, Alberta ) beginning at 9:30 a.m. Mountain time. The management information circular and all related materials are available on our website and www.sedarplus.ca .

All interested parties are invited to attend the Meeting. We will also be broadcasting the meeting via live webcast for the interest of all shareholders. Please be advised that shareholders will not be able to vote any shares through this webcast format. Details for joining the event are as follows:

DATE: June 18, 2025
TIME : 9:30 AM Mountain/ 11:30 AM Eastern
LINK: https://us06web.zoom.us/j/89512204386
DIAL-IN NUMBERS:
https://us06web.zoom.us/u/kenh5nLlte
WEBINAR ID   : 895 1220 4386

Corporate Presentation

Alvopetro’s updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .

Social   Media

Follow Alvopetro on our social media channels at the following links:

Twitter – https://twitter.com/AlvopetroEnergy
Instagram – https://www.instagram.com/alvopetro/
LinkedIn – https://www.linkedin.com/company/alvopetro-energy-ltd

Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro’s organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are   building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Abbreviations:

boepd

=

barrels of oil equivalent (‘boe’) per day

bopd

=

barrels of oil and/or natural gas liquids (condensate) per day

BRL

=

Brazilian Real

Mcf

=

thousand cubic feet

Mcfpd

=

thousand cubic feet per day

MMcf

=

million cubic feet

MMcfpd

=

million cubic feet per day

NGLs

=

natural gas liquids (condensate)

BOE Disclosure

The term barrels of oil equivalent (‘boe’) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6 Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

Well Results

Data obtained from the 183-D4 well identified in this press release, including hydrocarbon shows, cased-hole logging data, and potential net pay should be considered preliminary until testing, detailed analysis and interpretation has been completed. Hydrocarbon shows can be seen during the drilling of a well in numerous circumstances and do not necessarily indicate a commercial discovery or the presence of commercial hydrocarbons in a well. There is no representation by Alvopetro that the data relating to the 183-D4 well contained in this press release is necessarily indicative of long-term performance or ultimate recovery. The reader is cautioned not to unduly rely on such data as such data may not be indicative of future performance of the well or of expected production or operational results for Alvopetro in the future.

Forward-Looking Statements and Cautionary Language

This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘may’, ‘believe’, ‘estimate’, ‘forecast’, ‘anticipate’, ‘should’ and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking statements concerning potential net natural gas pay in the 183-D4 well and expectations regarding future completion plans for the well as well as timing of production commencement from the well, future production and sales volumes, plans relating to the Company’s operational activities, and other exploration and development activities in both Canada and Brazil and the timing for such activities. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro’s SEDAR+ profile at www.sedarplus.ca . The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE Alvopetro Energy Ltd.

View original content: http://www.newswire.ca/en/releases/archive/June2025/10/c2914.html

News Provided by Canada Newswire via QuoteMedia

This post appeared first on investingnews.com

Chipotle Mexican Grill is hoping that Americans’ love for ranch will boost its sales.

On June 17, the burrito chain is launching Adobo Ranch, a spicier take on the iconic condiment that has transcended salads to adorn pizza, chicken wings and chips. The menu item is Chipotle’s first new dip since queso blanco, which launched in 2020.

The debut comes as Chipotle tries to recover from a rough start to the year. In the first quarter, the company reported its first same-store sales decline since 2020. Executives cited a pullback from consumers who had become more concerned about the economy.

The company also lowered the top end of its outlook for full-year same-store sales growth and said traffic wouldn’t grow until the second half of the year.

Shares of Chipotle have fallen 12% this year, dragging its market cap down to $71 billion.

But Adobo Ranch could help to boost the company’s sales if it draws cautious diners back to the chain’s restaurants.

The dipping sauce is made with adobo peppers, sour cream and herbs and spices, according to the company. Adding Adobo Ranch to an order will cost an extra 75 cents.

Ranch outsells ketchup, although NIQ retail sales data shows that mayo still holds the top spot as the favorite condiment of U.S. consumers.

This post appeared first on NBC NEWS

The majority of House Democrats voted in favor of allowing non-citizens to participate in Washington, D.C. elections on Tuesday.

The House of Representatives passed a bill led by Rep. August Pfluger, R-Texas, to prohibit non-U.S. citizens from voting in elections in the nation’s capital.

It passed 266 to 148, with 56 Democrats joining Republicans in passing the measure. One Democrat voted ‘present,’ while 148 voted against the bill.

‘I believe strongly in not having federal overreach, but we have jurisdiction, Congress has jurisdiction over Washington, District of Columbia…and we don’t like to utilize our jurisdiction and our authority, but in this case, they’ve gone too far,’ Pfluger told Fox News Digital in an interview before the vote.

D.C.’s progressive city council passed the Local Resident Voting Rights Amendment Act in 2022, granting non-U.S. citizens the ability to vote in local elections if they’ve lived in the district for at least 30 days.

Noncitizens can also hold local elected office in the D.C. government.

The local measure has been a frequent target of GOP attacks, with Republican national security hawks raising alarms about the possibility of hostile foreign agents participating in D.C. elections.

But progressive Democrats like Rep. Maxwell Frost, D-Fla., who spoke out against the bill on Tuesday afternoon, have dismissed that as an implausible scenario. 

‘Republicans claim that Congress has a constitutional duty to legislate on local D.C. matters, but this is historically and legally incorrect. Republicans legislate on local D.C. matters only when they think they can score political points, such as by demonizing immigrants,’ Frost said during debate on the House floor.

‘They only bring it up to the floor when they think they can score political points, taking away the democratic rights of people here in D.C. and home rule.’

Frost also argued that it was ‘highly unlikely’ foreign officials would vote in those elections, claiming they would have to ‘renounce their right to vote in their home country’ and because ‘D.C. has no authority in federal matters.’

But Pfluger, who spoke with Fox News Digital before the vote, was optimistic that it would get at least some Democratic support.

He noted that 52 Democrats voted for the bill when it passed the House in the previous Congress. It was never taken up in the formerly Democrat-controlled Senate, however.

‘It’s hard to go back to your district as a Democrat and say, yeah, I want foreign agents to be able to vote in our elections – ‘Oh yeah, it’s not federal elections,’ some may say. But it has an impact on the way the city is run,’ Pfluger said.

‘This could be Russian embassy personnel, they could be Chinese embassy personnel – a number of folks. It’s just wrong. It goes against the fabric of our society,’ he added.

Another bill receiving a vote on Tuesday is legislation that would grant D.C. police the ability to negotiate punishments via collective bargaining, and would help shield the capital’s police force from at least some liability by installing a statute of limitations against the Metropolitan Police Department. 

That legislation was introduced by New York Republican Rep. Andrew Garbarino.

This post appeared first on FOX NEWS

European stock markets started Tuesday’s session with a mixed and somewhat cautious tone, as investors kept a close watch on ongoing trade talks between the United States and China in London.

While major indices showed slight variations, a notable feature was the broad decline in European defense stocks, potentially linked to the discussions around critical mineral exports.

Meanwhile, fresh UK labor market data provided new insights into the country’s economic health.

Approximately ten minutes after the opening bell, the pan-European Stoxx 600 index was trading flat, indicating a general lack of strong directional conviction across the continent.

Looking at individual national markets, London’s FTSE 100 was up by a respectable 0.4%. In contrast, Germany’s DAX index was down by 0.2%, and France’s CAC 40 was last seen marginally higher.

A significant area of weakness this morning was the European defense sector. The regional Stoxx Aerospace and Defense index extended its recent losses, trading 0.8% lower.

This puts the index on track for its third consecutive day of declines. This downturn comes as investors monitor the US-China trade talks, which are set to continue in London on Tuesday.

A central point of these discussions revolves around critical minerals, on which China imposed export restrictions in April in response to US tariffs on Chinese exports.

These rare earth minerals are vital for the production of weaponry and other advanced defense technologies, making any developments in their trade a key concern for the sector.

Illustrating this pressure, shares in German defense giant Rheinmetall were last seen trading 3.4% lower.

Other German defense-related companies, Renk and Hensoldt, experienced even sharper falls, down 8% and 3.1%, respectively.

Currency and UK labor market: pound slips, job openings fall, wage growth cools

In currency markets, the British pound was down 0.5% against the US dollar on Tuesday morning, trading at around $1.35.

Despite this dip, sterling has still gained a notable 7.8% against the greenback so far this year.

New data from the UK’s Office for National Statistics (ONS) this morning provided a detailed snapshot of the labor market.

Job vacancies in the UK fell to 736,000 between March and May, a decline of 63,000 openings, or 7.9%, from the previous three-month period.

This marked the 35th consecutive decline in job openings, signaling a continued cooling in hiring demand.

Meanwhile, average earnings, including bonuses, saw a year-on-year increase of 5.3% for the period between February and April.

This indicates that while wage growth remains, it has steadily cooled since spiking to 6.1% in December.

Britain’s unemployment rate rose slightly to 4.6% in the three months to April, a figure that was in line with economist expectations.

In the previous three-month window to March, UK unemployment had stood at 4.5%.

The ONS data also showed that the UK’s economic inactivity rate—an estimate of those aged 16 to 64 who are out of work and either not seeking employment or unable to start work imminently—rose to 21.3% in the three months to April.

The post Europe markets open: FTSE 100 gains, Stoxx 600 flat; UK labor data, US-China talks eyed appeared first on Invezz

China has moved to ease its export chokehold on rare earths, with its Ministry of Commerce announcing over the weekend that it will establish a “green channel” to fast track rare earths export licenses to select EU firms.

The announcement follows high-level trade talks in Paris between Chinese Minister of Commerce Wang Wentao and European Commission Vice President and Trade Commissioner Maroš Šefčovič, CNBC reported.

A ministry spokesperson stated that China hopes the EU will take “reciprocal steps” to promote “compliant trade of high-tech products with China.” The diplomatic overture also extends to US firms.

According to Reuters, China has quietly granted export licenses to suppliers working with American auto giants General Motors (NYSE:GM), Ford (NYSE:F) and Stellantis (NYSE:STLA) — manufacturer of Jeep, Dodge, Fiat and Peugeot.

The rare earth sreprieve could not come soon enough for the auto industry. Following China’s April imposition of export restrictions on several critical rare earth elements — used in everything from electric motors to fuel injectors — industry groups warned that stockpiles were dwindling rapidly, with risks of assembly line stoppages looming.

Jonathan O’Riordan, international trade director at the European Automobile Manufacturers’ Association (ACEA), told CNBC on Monday (June 9), “We’re gradually coming into a very, very critical moment whereby those stocks are now being exhausted, and we are potentially going to see production stoppages.” The ACEA had expressed alarm over licensing delays, saying applications had been taking a “significant” amount of time to process since the April restrictions came into force.

The European Association of Automotive Suppliers echoed the same concerns last week, reporting that several plants had already shut down due to Beijing’s export controls, with more disruptions anticipated in the coming weeks.

A global leverage game

The backdrop to this rare earths standoff is China’s overwhelming dominance in the critical minerals supply chain.

The country produces roughly 60 percent of the world’s rare earth elements and accounts for about 70 percent of US rare earths imports. These minerals — used in smartphones, wind turbines, and even military fighter jets — are increasingly seen as geopolitical assets in the global transition to clean energy and high-tech manufacturing.

The leverage is already being felt in the numbers. According to data released by China’s General Administration of Customs, the value of rare earths exports in May plummeted 48.3 percent year-on-year to US$18.7 million.

Export volumes fell to 5,864.6 metric tons, down 5.67 percent compared to the same month last year.

That decline ended three consecutive months of year-on-year growth and showed the real-world effects of China’s tightening export controls, which have remained in place even after Beijing agreed during talks with Washington last month to “suspend or remove” non-tariff countermeasures imposed since April 2.

Still, total rare earths exports for the first five months of 2025 were up 2.3 percent compared to the same period last year, suggesting that while value has plummeted, some shipments are still getting through under stricter oversight.

The Ministry of Commerce reiterated that it has approved export applications for qualified entities and expressed willingness to “communicate over export controls with relevant countries to facilitate compliant trade,” hinting at a more conciliatory approach ahead of another round of US-China trade negotiations.

Supply diversification still key

Despite the temporary relief, western automakers and their governments face a more fundamental challenge: diversifying away from China’s stranglehold on rare earths. Europe in particular has recognized the urgency. EU policymakers have pushed to accelerate domestic mining projects and build up strategic reserves.

But such efforts are years away from producing material results, leaving automakers vulnerable in the short term.

With that in mind, industry leaders are warning that without rapid progress on alternative supply chains, future geopolitical shocks could cause even greater disruption.

For now, China’s “green channel” offers a pause — but not a solution.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

More than 100 Democrats voted against a House GOP-led resolution to condemn the accused terror attack in Boulder, Colorado.

It passed 280-113, with 75 Democrats joining Republicans to vote for the bill. Six lawmakers, five Democrats and one Republican, voted ‘present.’ 

The legislation was introduced by Rep. Gabe Evans, R-Colo., last week in response to the attack. But Democrat lawmakers made clear they were opposed to language in the resolution that they felt was politically charged.

In addition to condemning the attack, Evans’ resolution also appeared to rebuke blue-leaning sanctuary jurisdictions that were at odds with federal immigration authorities, and he condemned illegal immigrants who overstay their visas as well.

A second bill, led by Reps. Jeff Van Drew, R-N.J., and Joe Neguse, D-Colo., more broadly condemned the rise in antisemitic attacks in the U.S. That legislation netted much wider bipartisan support, passing 400-0, with just two lawmakers voting ‘present.’

But Evans’ resolution more specifically noted that the case of terror suspect Mohammed Sabry Soliman, who overstayed a tourist visa and a subsequent work authorization, ‘demonstrates the dangers of not removing from the country aliens who fail to comply with the terms of their visas.’

The Egyptian national is facing federal charges after allegedly attempting to set fire to peaceful demonstrators who were protesting Hamas’ continued possession of Israeli hostages in Gaza.

The Trump administration has vowed that he and his family will be deported from the U.S.

Evans’ resolution also ‘affirms that free and open communication between State and local law enforcement and their Federal counterparts remains the bedrock of public safety and is necessary in preventing terrorist attacks’ and it ‘expresses gratitude to law enforcement officers, including U.S. Immigration and Customs Enforcement personnel, for protecting the homeland.’

It comes as Democrat-controlled cities like Los Angeles and Nashville, Tennessee, have seen their leaders criticize the Trump administration’s ICE crackdown.

The Trump administration’s handling of anti-ICE riots in Los Angeles has spurred an outpouring of scorn from Democrat officials, particularly the decision to send National Guard troops in to break up the demonstrations.

House Minority Leader Hakeem Jeffries, D-N.Y., criticized Evans’ resolution in comments to reporters on Monday.

‘Who is this guy? He’s not seriously concerned with combating antisemitism in America. This is not a serious effort,’ Jeffries said. ‘Antisemitism is a scourge on America. It shouldn’t be weaponized politically.’

Jeffries also called Evans ‘a joke.’

Evans responded on X, ‘I served our nation in uniform in the Middle East, as a cop in Colorado, & now as a Congressman. This wildly offensive sentiment from Democrat’s Leader is why antisemitism persists. The Left is unserious about finding real solutions.’

Rep. Dan Goldman, D-N.Y., who is Jewish, also criticized Evans’ resolution.

‘You weren’t here, Mr. Evans, last term, but there were about 10 antisemitism resolutions that effectively said the same thing solely to score political points. We Jews are sick and tired of being used as pawns,’ Goldman said during debate on the bill.

But Van Drew, who is leading a bipartisan resolution that similarly condemns antisemitism but does not discuss immigration, defended Evans’ measure.

‘Yes, it is different than mine. Mine focused purely on antisemitism here in the world. But he brings up a valid point not only for Jews, but for many innocent victims. Whether it was Laken Riley, whether it was the women that were raped, the women and men that were killed, those that were beaten, those that were hurt, who were in law enforcement. Illegal immigration is not a good thing,’ Van Drew said.

The two lawmakers who voted ‘present’ on Van Drew’s resolution were Reps. Rashida Tlaib, D-Mich., and Marjorie Taylor Greene, R-Ga.

Greene wrote on X after the vote, ‘Antisemitic hate crimes are wrong, but so are all hate crimes. Yet Congress never votes on hate crimes committed against white people, Christians, men, the homeless, or countless others. Tonight, the House passed two more antisemitism-related resolutions, the 20th and 21st I’ve voted on since taking office. Meanwhile, Americans from every background are being murdered — even in the womb — and Congress stays silent.’

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The United States and China are set to reopen high-stakes trade negotiations in London on Monday, aiming to revive a fragile truce on tariffs and technology restrictions after weeks of recriminations.

The meeting follows a phone call last week between President Donald Trump and Chinese leader Xi Jinping that both sides described as constructive.

The renewed dialogue is focused on easing export controls and restoring the flow of critical materials, particularly rare-earth minerals, after a breakdown in talks that began in Geneva last month.

Since then, relations between the world’s two largest economies have soured, with the US accusing China of withholding key exports, and Beijing bristling at Washington’s clampdown on advanced technology.

Momentum builds after Trump-Xi call

Trump’s phone conversation with Xi last Thursday marked the first direct contact between the leaders since the trade war reignited in February.

The new round of negotiations came after Trump said his phone conversation with Xi on Thursday mainly focused on trade and had “resulted in a very positive conclusion for both countries”.

China, in turn, announced that Vice Premier He Lifeng would travel to the UK from June 8 to 13 for discussions under the “China-US economic and trade mechanism.”

Over the weekend, Beijing also approved certain applications for rare-earth exports, though it stopped short of disclosing details about the recipients.

Kevin Hassett, head of the National Economic Council, emphasized that the US wants a swift return to normal trade in rare earths.

“We want the rare earths, the magnets that are crucial for cell phones and everything else to flow just as they did before the beginning of April, and we don’t want any technical details slowing that down,” Kevin Hassett, head of the National Economic Council at the White House, said Sunday on CBS’s Face the Nation.

“And that’s clear to them.”

Stumbling blocks remain after Geneva deal falters

In May, both countries struck a tentative agreement in Geneva to temporarily lower tariffs that had risen to over 100%.

However, talks soon stalled, with each side accusing the other of backtracking.

The US was particularly alarmed by a drop in rare-earth magnet shipments used in electric vehicles and military hardware.

China, meanwhile, protested new American restrictions on AI chips, chip design software, and visa curbs affecting over 280,000 Chinese students.

Monday’s negotiations in London will bring together US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer.

Their Chinese counterparts will be led by Vice Premier He.

Observers note the presence of Lutnick — key architect of technology export curbs — as a sign the White House is open to revisiting measures that have rattled Beijing’s economic ambitions.

Uncertain path to progress as tariffs loom

Although Wall Street responded with guarded optimism following the Trump-Xi call, few expect a breakthrough.

Analysts at Bloomberg Economics cautioned that unlike the Geneva talks, there’s no urgency to reduce tariff levels and the talks are likely to be bogged down by thornier issues.

“This time around there’s no such low-hanging fruit,” Adam Farrar and Michael Deng of Bloomberg Economics wrote in a report ahead of the talks, the publication said.

“With more complex issues on the table, it will be harder for either side to walk away with meaningful new outcomes.”

The White House has hinted that if no deal materializes, Trump will reinstate higher tariffs in August.

That would mark a return to the more punitive duties announced in April, reversing the temporary reprieve granted after the Geneva framework.

China’s official tone has softened, with a Xinhua commentary urging the US to abandon its “security lens” on economic issues.

Still, it acknowledged that both nations share “extensive common interests” and called the economic relationship one of “mutual benefit and win-win results.”

Economic pressures on both sides

Behind the negotiating table, domestic pressures weigh on both leaders.

Trump, seeking re-election, is eager to show progress on trade.

Xi, facing economic headwinds ranging from deflation to youth unemployment, also has incentives to stabilize relations.

Despite tightening rare-earth exports, China appears open to engagement, with Xi reportedly telling Trump that he hopes to see the US “withdraw the negative measures it has taken.”

After their call, China’s foreign ministry said Trump extended a welcome to Chinese students — a gesture seen as symbolic amid broader tensions.

“It would be my honor to welcome them,” Trump later said.

Still, as the London talks begin, seasoned observers remain cautious.

“The US and China “just want to get back to where they were in Switzerland with a few more agreements down on paper to actually understand what is gonna be licensed, what gets permitted, what doesn’t,” said Josh Lipsky of the Atlantic Council.

Whether that clarity emerges in London remains to be seen.

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President Donald Trump has escalated his sudden rupture with Elon Musk by implying the government could sever ties with the tech titan’s businesses.

‘The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it,’ Trump wrote Thursday on Truth Social.

Various estimates have been put forward about just how much Musk’s firms, primarily SpaceX and Tesla, benefit from U.S. government contracts and subsidies. The Washington Post has put the figure at $38 billion, with SpaceX President and COO Gwynne Shotwell estimating that company alone benefits from $22 billion in federal spending. Reuters has reported that the true figure is classified because of the nature of many of the contracts Musk’s firms are under.

NASA relies on SpaceX to ferry astronauts to and from the International Space Station. The agency’s only other option at the moment is to pay around $90 million for a seat aboard Russia’s Soyuz capsule.

Last year, SpaceX was selected to develop a vehicle capable of safely de-orbiting the International Space Station in 2030, when NASA and its partner space agencies agreed to end operation of the orbiting laboratory. SpaceX is also expected to play a major role in NASA’s efforts to return astronauts to the moon and eventually travel beyond to Mars.

Later Thursday afternoon, Musk posted that he would begin ‘decommissioning’ SpaceX’s Dragon spacecraft, which regularly flies astronauts and cargo to the ISS, in response to Trump’s threat.

NASA spokesperson Bethany Stevens said the agency ‘will continue to execute upon the President’s vision for the future of space.’

‘We will continue to work with our industry partners to ensure the President’s objectives in space are met,’ she said in a statement on X.

Tesla, meanwhile, has benefited from approximately $11.4 billion in total regulatory credits aimed at boosting electric-vehicle purchases, though that figure also includes state-level subsidies. Musk has claimed he no longer needs the credit, which he says now primarily benefits rivals.

Following Trump’s threat, shares in Tesla, which had already fallen 8% on Thursday as the tit-for-tat escalated on social media, declined as much as 15% following Trump’s post. SpaceX is privately held and its shares do not trade on the open market.

Trump’s warning came as part of a stunning exchange with Musk — who spent more than $250 million to help him get elected — that erupted into public view.

Earlier in the day, president told reporters in the Oval Office that he was disappointed in Musk’s criticism of the Republican policy bill that is making its way through Congress. Musk has blasted the bill, calling it a ‘disgusting abomination,’ amid concerns it would worsen the U.S. fiscal deficit.

Musk, who officially left his White House role last week to spend more time on his companies, spent much of Thursday launching into a tirade on X, his social media platform, where he posted a variety of critiques of Trump, the bill and other Republican politicians.

A make-good on Trump’s threat would come at a sensitive time for Tesla, which has seen global sales plunge partly in response to Musk’s very involvement with the Trump campaign. Year to date, its shares are down some 25%.

Trump’s warning also raises the specter that Trump could resurface pending government investigations into Musk’s firms. According to a report in April from Democratic staff of the Senate Homeland Security Permanent Subcommittee on Investigations, Musk’s firms were facing $2.37 billion in potential federal liabilities when Trump took office in January.

Since then, many of those actions have been paused or outright dismissed alongside the rise of the previously Musk-helmed Department of Government Efficiency, which gutted many of the agencies looking into Musk’s businesses.

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