As the import volume of post-consumer recycled plastic (PCR) surges, recyclers claim that this move is harming the American plastic recycling system, and there are allegations that some imported resins may not be genuine recycled materials. A bill currently being advanced in California requires beverage container manufacturers to report the origin of all PCR in their products. Senate Bill 633 (SB 633) will add third-party PCR verification and origin requirements to the regular reporting that producers are required to submit under the state's container deposit system. These reports must be submitted to the California Department of Resources Recycling and Recovery (CalRecycle). The bill was introduced in February by Democratic Senator Catherine Blakespear, who represents parts of San Diego and Orange County. After passing the state Senate in early June, it is now entering the review stage in the state Assembly. At the hearing of the House Natural Resources Committee on July 14, Blakespear elaborated on California's beverage container recycling content regulations, which require that by 2025, PCR accounts for 25% of containers, and by 2030, it reaches 50%. "These goals have driven up the demand for recycled plastics, and currently, most recycled plastics come from out-of-state and international recyclers," Blakespear said. "According to reports, last year saw a record high in imports. However, there is currently no system in place to verify the authenticity of the recycled content claimed by beverage manufacturers." "In fact, recycled plastic, after being processed into pellets or sheets by recyclers, is indistinguishable from new plastic," Blakespear continued, "Recent reports have found that at least some of the plastic imported into the state has new plastic masquerading as recycled plastic." Blakespear pointed out that California already has similar third-party verification requirements for manufacturers using recycled plastic in reusable shopping bags, and at the time this requirement came into effect, most bag manufacturers were unable to prove that their bags were made from recycled materials. "This indicates that we also need a 'trust but verify' model for the recycled plastic in the bottles," she said. The Association of Plastic Recyclers (APR) is the main supporter of the legislation. APR has under its umbrella Resource Recycling, Inc., which is the publisher of Plastics Recycling Update. APR state government relations manager Allison Kustic testified that manufacturers sourcing PCR from overseas is harming recyclers within the state. "California recyclers are indeed struggling to maintain operations because they cannot sell their recycled plastic," she said. Kustic is discussing the necessity of the packaging producer responsibility extension system established by Bill 54 (SB 54). "These policies will collect thousands of pounds of recyclable materials, but if California recyclers cannot sell their products, there will be no businesses left to recycle the materials collected in California, which is a big problem," Kustic added. The American Beverage Association testified against the measure, stating that while the organization supports a recycling component verification system, the origin requirements are concerning. "As long as the resin is certified, its origin is essentially irrelevant to the discussion," said Dennis Albiani, representing the American Beverage Association. He added that the bill places the responsibility for origin information on manufacturers, who "may not have direct knowledge of the source of the materials—we are not bottle manufacturers, we are just companies that fill beverages into bottles." The committee passed the bill with 9 votes in favor and 4 votes against, and the bill has been submitted to the appropriations committee for further review.

On July 15 local time, the U.S. Department of Commerce announced its final affirmative ruling on the anti-dumping (AD) and countervailing duty (CVD) investigation into Chinese hexamine. Maximum 825.92% exorbitant tariff The final ruling sets the anti-dumping duty rate for Chinese producers/exporters at 405.19% (with the margin adjusted to 394.65% after offsetting subsidies), and this rate is a uniform national rate for China. The subsidy tax rate for Chinese producers/exporters is 420.73%, which is also the national uniform rate in China. The combined rate of the anti-dumping tax and the subsidy tax rate reaches as high as 825.92%. According to the relevant legal procedures announced by the U.S. Department of Commerce, the U.S. International Trade Commission (ITC) will make a final ruling on anti-dumping industry damage on August 28, 2025. In addition, on July 14, the U.S. Department of Commerce announced a preliminary anti-dumping ruling on erythritol imported from China, with a preliminary determination that the dumping margin for Chinese producers/exporters is 371.62% (the adjusted margin after offsetting subsidies is 371.53%), and the national unified tax rate for China is 450.64% (the adjusted margin after offsetting subsidies is 450.64%). Trump: Continue sending tariff letters On July 15, U.S. President Trump stated that he plans to impose tariffs of more than 10% on smaller countries, including those in Africa and the Caribbean. On that day, Trump gave an interview to the media at Andrews Air Force Base, saying, "For this segment of the population, every country will be the same." These countries "are not major powers and have a small trade volume with us." He indicated that he might impose tariffs "slightly above 10%" on goods from at least 100 countries. On the same day, U.S. President Trump announced on social media that the United States would impose a 19% tariff on all imports from Indonesia, while exports from the U.S. to Indonesia would enjoy tariff-free and non-tariff barrier treatment. According to reports, Trump stated that after talks with Indonesian President Prabowo, both sides reached an important agreement. Under this "milestone agreement," Indonesia "opens its entire market to the United States for the first time." Trump recently sent letters to the leaders of more than 20 trading partners, stating that starting from August 1, he will impose tariffs ranging from 20% to 50% on these trading partners. Tariff revenue exceeds 100 billion USD. On July 11, according to data from the U.S. Treasury, the government recorded a fiscal surplus of over $27 billion in June, in sharp contrast to the $316 billion deficit in May. This is the first fiscal surplus for the U.S. government in June since 2017. Nevertheless, the cumulative deficit for the fiscal year so far still stands at $1.34 trillion. This transformation is mainly due to the sharp increase in fiscal revenue, especially from tariff income. In June, the total customs tariff reached approximately 27 billion USD, an increase of 17% compared to 23 billion USD in May, and a staggering 301% increase compared to the same period last year. So far this fiscal year, tariff revenue has reached 113 billion USD, an 86% increase compared to the same period last year, setting a record high for a single fiscal year. During a cabinet meeting earlier this week, Treasury Secretary Becerra stated that tariff revenue in the United States is expected to reach $300 billion in the calendar year 2025. This forecast is based on the strong performance of tariff revenue so far this year and the ongoing trade protection policies implemented by the Trump administration.

International News Digest:   Raw Material News - Ocean Conservancy Report Claims Most States Lagging in Plastic Pollution Efforts Automotive News - Renault Appoints Interim CEO and Lowers 2025 Profit Forecast Electronics News - Researchers Develop Breakthrough Heat - Conductive Plastic to Help Prevent Overheating in Advanced Electronic Devices Medical News - Medical Disposables Manufacturer Reshores Operations to North Carolina Macro News - AMD Announces Resumption of AI Chip Exports to China Price Information - RMB/USD Central Parity Rate Reported at 7.1526, Down 28 Pips   Details of International News:   Ocean Conservancy Report Claims Most States Lagging in Plastic Pollution Efforts The Washington-based Ocean Conservancy has released a new report, "United States of Plastics," that analyzes state-level efforts to combat plastic pollution on a five-star scale. According to the report, on average, U.S. states scored 1.5 stars, or “needs improvement,” with 44 out of 50 states and Washington D.C. scoring below three stars.“Overall, the results are disappointing,” Ocean Conservancy Director of Plastics Policy Anja Brandon says. “Four in five Americans consider plastic pollution to be the most pressing issue facing our ocean, yet only six states ranked as ‘good’ or above in our study. We hope that the 'United States of Plastics' report inspires policy change and gives a benchmark for states to measure their progress in combating plastic pollution in the years to come.” Anya, Plastic Policy Director of the Ocean ConservancyBrandon stated, "Overall, the results are disappointing. Four out of five Americans believe plastic pollution is the most urgent issue facing the oceans; however, in our study, only six states were rated 'good' or above. We hope the 'State of Plastic in America' report can drive policy change and provide a benchmark for states to measure their progress in addressing plastic pollution in the coming years." Stratasys Unveils 'True' Silicone 3D-printing Material The new P3 Silicone 25A is a high-performance material developed in a strategic collaboration with Shin-Etsu and designed exclusively for the Stratasys Origin DLP platform. It can be used to produce a range of products, including suction cups.   Medical Disposables Manufacturer Reshores Operations to North Carolina A manufacturer of medical disposables headquartered in Hauppauge, NY, with manufacturing operations in China, GMAX Industries Inc. has chosen to locate its base of manufacturing operations in Winston-Salem, NC, according to a news report from Greater Winston Salem Inc. The decision is described as a strategic initiative to relocate manufacturing in the United States. Researchers Develop Breakthrough Heat - Conductive Plastic to Help Prevent Overheating in Advanced Electronic Devices Anyone who has left a phone in a hot car knows that electronic devices shut down when they overheat. According to foreign media reports, researchers at Northeastern University have developed a new type of lightweight plastic - ceramic composite material that can conduct heat and more effectively cool advanced electronic devices. "Heat management is a huge challenge for devices such as power electronics and radar antennas," said Professor Randall Erb, head of Northeastern University's Directed Assembly of Particles and Suspensions (DAPS) Laboratory and lead researcher on the project. "When electronic devices overheat, you either have to slow them down or shut them off. That might be okay for a phone, but not for critical systems like radar." In collaboration with the U.S. Army Research Laboratory, researchers at Northeastern University have developed a material that combines ceramics, polymers, and additives to form a 3D - printable plastic composite. It has a unique nanoscale ordered internal structure that allows heat to pass through easily. Renault Appoints Interim CEO and Lowers 2025 Profit Forecast Following the unexpected departure of the former Chief Executive Officer (CEO) of French automaker Renault, the company has lowered its 2025 profit forecast and appointed its current Chief Financial Officer, Duncan Minto, as interim CEO. Duncan Minto will replace Luca de Meo, who is set to become CEO of Kering. On July 15, Renault stated that it is actively searching for a long - term CEO. According to people familiar with the matter, potential candidates include Denis Le Vot, head of the Dacia brand; Francois Provost, Renault's purchasing director; and former Stellantis executive Maxime Picat.   Overseas Macro Market Information:   【U.S. Treasury Secretary Explains Export of H20 Chips to China: China Has Developed Chips with Equivalent Performance, So We Can Sell Them】 According to Reference News, on July 15 local time, U.S. Treasury Secretary Bessent said in an interview with Bloomberg Television when talking about Nvidia's approval to export H20 chips that China has developed chips with performance equivalent to H20 chips, so there is no problem with Nvidia selling H20 chips. 【U.S. Proposes South Korea to Refer to Japan's Example: Establish a Sovereign Fund to Lend to South Korean Enterprises for U.S. Factory Construction】 According to South Korea's Chosun Ilbo, South Korean government officials familiar with relevant trade negotiations revealed that the U.S. has asked South Korea to take the lead in setting up a multi - billion - dollar investment fund aimed at boosting U.S. manufacturing. The fund, tentatively named the "Manufacturing Cooperation Promotion Fund", will provide financing support for South Korean enterprises to build factories, expand plants, or invest in local partners in the U.S. This request, confirmed on July 15, marks a significant shift from the U.S.'s previous focus on easing trade barriers in the agricultural and digital data sectors. 【AMD Announces Resumption of AI Chip Exports to China】 According to Singapore's Lianhe Zaobao website on July 16, U.S. chip company Advanced Micro Devices (AMD) said that it plans to resume exports of its MI308 chips to China after the U.S. announced it would approve the sales. Previously, the U.S. made a similar decision regarding a Nvidia chip. 【Trump Says Pharmaceutical Tariffs May Be Introduced Before August 1, Downplaying the Possibility of Reaching More Trade Agreements】 U.S. President Donald Trump said he could impose tariffs on pharmaceuticals as early as the end of this month and may soon impose tariffs on semiconductors, suggesting that these import taxes could be implemented along with the broad "reciprocal" tariffs set to take effect on August 1.   Price information:   【RMB/USD Central Parity Rate】 The RMB/USD central parity rate was reported at 7.1526, down 28 pips; the central parity rate of the previous trading day was 7.1498, the official closing price of the previous trading day was 7.1734, and the night session closing price of the previous day was 7.1810. 【Upstream Raw Material USD Market Prices】 Ethylene Asia: CFR Northeast Asia at 820 USD/ton; CFR Southeast Asia at 830 USD/ton. Propylene Northeast Asia: FOB South Korea average at 740 USD/ton; CFR China average at 775 USD/ton. North Asia frozen cargo CIF price: Propane at 521 - 523 USD/ton; Butane at 491 - 493 USD/ton. South China frozen cargo CIF price for early August: Propane at 558 - 568 USD/ton; Butane at 529 - 537 USD/ton. Taiwan region frozen cargo CIF price: Propane at 536 - 538 USD/ton; Butane at 491 - 493 USD/ton. 【LLDPE USD Market Prices】 Film: 875 - 910 USD/ton (CFR Huangpu); Injection Molding: 950 USD/ton (CFR Dongguan). 【HDPE USD Market Prices】 Film: 920 USD/ton (CFR Huangpu); Blow Molding: 855 - 860 USD/ton (CFR Huangpu). 【LDPE USD Market Prices】 Film: 1070 - 1110 USD/ton (CFR Huangpu); Coating: 1350 USD/ton (CFR Huangpu). 【PP USD Market Prices】 Homopolymer: 935 - 965 USD/ton (CFR Huangpu); Copolymer: 965 - 995 USD/ton (CFR Huangpu); Film Grade: 1000 USD/ton (CFR Huangpu); Transparent Grade: 1085 USD/ton (CFR Huangpu); Pipe Grade: 1160 USD/ton (CFR Shanghai).

International News Digest: Raw Materials - Dow Launches INNATE™ TF 220 Resin to Enable Recyclable BOPE Film Innovation Circular Economy - Toyobo and DMC Biotechnologies to use biotech to make plastic raw materials Automotive - Elton Manufacturing buys U.S.-based Decatur Plastic Products Additives - Songwon To Highlight Stabilizer Technologies and Performance Additives at K2025 Macro - Trump: "Major Announcement" on Russia Coming Next Monday Price - USD/CNY Central Parity at 7.1475, Up 35 Pips   the Details of International News: 1.Dow Launches INNATE™ TF 220 Resin to Enable Recyclable BOPE Film Innovation Dow Inc. announced a major technological breakthrough with INNATE™ TF 220 resin, offering a high-performance, recyclable-design biaxially oriented polyethylene (BOPE) film solution for flexible packaging. From material design to end-of-life recycling, Dow is collaborating with partners across the packaging value chain to develop scalable sustainable solutions, translating environmental vision into commercial practice. 2. Toyobo and DMC Biotechnologies to use biotech to make plastic raw materials Toyobo recently signed a joint research and development contract related to biomanufacturing with DMC Biotechnologies, a U.S. biotech venture company based in Colorado. The two companies aim to develop and commercialize sustainable key chemical compounds to be used as raw materials for general-purpose plastics by applying synthetic biology technologies to microorganisms. 3. Elton Manufacturing buys U.S.-based Decatur Plastic Products The acquisition is Mississauga, Ont.-based Elton's first major expansion into the American market.In a move that marks its first major expansion into the U.S., Elton Manufacturing, a Mississauga, Ont.-based supplier of weatherstripping and windows for garage and entry doors, has acquired weatherstripping and door window supplier Decatur Plastic Products Inc. (DPP), of North Vernon, Ind. 4. Avient Launches Oxygen Scavenger to Enhance PET Packaging Recyclability Avient has launched an oxygen-scavenging additive designed specifically to enhance the recyclability of polyethylene terephthalate (PET) packaging while extending product shelf life. ColorMatrix Amosorb Oxyloop-1 is the first grade in Avient's new Oxyloop portfolio of oxygen scavengers. 5.TEAM Technologies Announces Acquisition of Duke Empirical TEAM Technologies, a provider of end-to-end outsourcing manufacturing services for critical medical devices, announced the acquisition of Duke Empirical. Duke Empirical is a designer, developer, and manufacturer of innovative medical devices, specializing in high-end catheters and minimally invasive delivery systems. The acquisition further expands TEAM’s capabilities in the minimally invasive medical, cardiology, and interventional therapy markets. 6. EU Adopts New Auto Circular Economy Rules to Drive Lifecycle Green Transition The European Parliament’s Committee on the Environment (ENVI) and Committee on the Internal Market (IMCO) recently voted to adopt new regulations aimed at comprehensively transforming Europe’s automotive industry toward a circular economy. Covering the entire lifecycle of vehicles from design, production to end-of-life treatment, the regulations include several specific requirements. Under the draft, automakers must design new models with easily detachable components, ensuring authorized treatment facilities (ATFs) can reuse, remanufacture, refurbish, or recycle parts (where technically feasible). Additionally, software restrictions that hinder the replacement or removal of individual components are prohibited. 7.Songwon To Highlight Stabilizer Technologies and Performance Additives at K2025 Songwon Industrial highlights its commitment to the industry and customers at K 2025. As the chemical industry grows more regulated and competitive, customers face pressure to improve performance, focus on sustainability, adapt quickly to changing requirements and maintain continuity. 8.Braskem to expand PE plant capacity in Duque de Caxias Braskem launches Transforma Rio project to expand the polyethylene (PE) p Braskem to expand PE plant capacity in Duque de Caxias.Braskem launches Transforma Rio project to expand the polyethylene (PE) plant in Duque de Caxias. The project was announced at the official ceremony hosted by Petrobras in Rio de Janeiro.   Overseas Macro Updates: Houthi Rebels Continue to Ban Israeli-Related Vessels Reports indicate that Houthi leader Abdul-Malik al-Houthi stated on July 10 that the group will continue to ban Israeli-related ships from passing through the Red Sea, Gulf of Aden, and Arabian Sea as long as Israel continues its aggression and blockade of Gaza. No one is allowed to transport Israeli-related goods through these waters. Within a week, Yemeni Houthi rebels sank two cargo ships in the Red Sea. The UN Secretary-General’s Special Envoy for Yemen emphasized the need to ensure freedom of navigation in the Red Sea, protect civilian infrastructure, and prevent Yemen from being drawn into a larger regional conflict. Trump: "Major Announcement" on Russia Coming Next Monday U.S. President Trump revealed on July 10 local time that he will make a "major announcement" on Russia next Monday (July 14 local time). In a phone interview with U.S. media, Trump stated that the current Russian airstrikes on Ukraine have intensified, adding that he is "disappointed" with Russian President Putin and describing Putin as "polite in words but without substance." Second Round of China-Switzerland FTA Upgrade Negotiations Held in Switzerland From July 7 to 10, the second round of negotiations on upgrading the China-Switzerland Free Trade Agreement was held in Geneva, Switzerland. The two sides held in-depth discussions on issues including trade in goods, trade in services, investment, rules of origin, trade facilitation, competition, environment and trade, and economic and technological cooperation, achieving positive progress.   Price information:   USD/CNY Central Parity 7.1475, up 35 pips; previous trading day’s central parity 7.1510, previous trading day’s official closing price 7.1776, overnight closing price 7.1780.  Raw Materials USD Market Prices Ethylene Asia: CFR Northeast Asia $820/tonne; CFR Southeast Asia $830/tonne. Propylene Northeast Asia: FOB Korea average price $740/tonne; CFR China average price $775/tonne. North Asia frozen cargo CIF price: propane $538-540/tonne; butane $508-510/tonne. South China frozen cargo for first half of August CIF price: propane $567-574/tonne; butane $537-544/tonne. Taiwan region frozen cargo CIF price: propane $538-540/tonne; butane $508-510/tonne. LLDPE USD Market Prices Film: $875-910/tonne (CFR Huangpu); Injection molding: $950/tonne (CFR Dongguan). HDPE USD Market Prices Film: $920/tonne (CFR Huangpu); Hollow: $855-860/tonne (CFR Huangpu). LDPE USD Market Prices Film: $1,070-1,110/tonne (CFR Huangpu); Coating: $1,350/tonne (CFR Huangpu). PP USD Market Prices Homopolymer: $935-980/tonne (CFR Huangpu); Copolymer: $965-995/tonne (CFR Huangpu); Film material: $1,000/tonne (CFR Huangpu); Transparent: $1,085/tonne (CFR Huangpu); Pipe material: $1,160/tonne (CFR Shanghai).

Saint-Léonard, Que.-based film and flexible packaging maker Balcan Innovations has completed installation of their new Windmoller & Hoelscher (W&H) printing press in Terrebonne, Que., in what’s being described as the first in a series of major investments in new extrusion, printing, and bag-making machinery for their Wisconsin and Quebec-based facilities. Artist’s rendering of the 15,250-square-foot expansion at Balcan’s factory in Pleasant Prairie, Wis. Image Credit: Balcan Innovations In a June 2 news release, Balcan officials said the company’s newly launched capital expenditure plan represents a $200-million commitment aimed at significantly expanding their U.S. operations with eight co-extrusion lines, one printing press, one tuber, and two bag-making machines, set to be installed in Pleasant Prairie, Wis., in 2025 through 2027 – an investment that will increase the plant’s film capacity by more than 700 per cent to meet the growing demands of their U.S. customers. Balcan has also received municipal government approval to expand their 215,000 square-foot factory in Pleasant Prairie by 15,250-square-feet to accommodate the incoming assets. Additional infrastructure investments include the installation of exterior rail spurs for direct resin delivery, electrical upgrades, companywide training tools, and an expansion of their engineering and maintenance workforce across all sites. To complement their planned U.S. growth, the now-operational 10-colour Miraflex II press in Terrebonne “represents a portion of Balcan’s commitment to reinforcing their expansive Canadian roots,” the statement said. The press will be followed by a five-layer W&H co-extrusion line in Terrebonne, set to be operational in early 2026, along with numerous machinery optimization projects already underway across their Montreal and Laval plants. “We’re continuing to invest in the best equipment and the best processes to serve our customers where they want to be served, whether that be in Canada or the U.S.,” said André Desroches, Balcan’s chief operating officer. “This is about creating manufacturing redundancies and positioning ourselves for what’s next, both for our company and the future of the flexible packaging industry.” Balcan manufactures high-performance polyethylene films, flexible packaging, and reflective insulation with five brands at their core: Balcan Packaging, Plastixx FFS Technologies, NELMAR Security Packaging Systems, rFoil, and Reflectix.

【International News Digest】 Raw Materials - The new plastic is completely soluble in seawater — no micro-particles Automotive - Syensqo Unveils Bright Orange Flame-Retardant PPA for EV Safety Applications Corporate - Sulzer inaugurates biopolymer engineering and scale-up center Macro - Trump Team Considers Meeting with Iran This Week Price - USD/CNY Central Parity Rate at 7.1746, Up 43 Pips International News Details The new plastic is completely soluble in seawater — no micro-particles Japanese scientists from the The Center for Research on New Materials (RIKEN) was established a new type of plastic, is a recyclable material that dissolves in seawater, leaving no residue behind. The plastic, called alkyl SP2 has high strength, can be molded at temperatures above 120°C, and can be transformed into anything from hard shells to soft films. At the same time, unlike most biodegradable plastics, this material does not leave behind any microplastic particles. It can completely dissolve in seawater within 2-3 hours. Syensqo Unveils Bright Orange Flame-Retardant PPA for EV Safety Applications Belgian materials giant Syensqo has launched Amodel PPA HFFR-4133 Orange (OR), a flame-retardant polyphthalamide designed for electric vehicle (EV) safety applications.This advanced material features a stable, vibrant orange hue that retains brightness even after prolonged high-temperature exposure, addressing growing industry demands for safety and visibility in critical EV components like connectors and busbars. Sika launches PU adhesive for primerless auto glass replacement Sika launches Sikaflex® P2G Premium, a high-performance solution designed to complement their primerless auto glass replacement (AGR) product line. Sikaflex® P2G Premium offers a 3-hour minimum drive-away time (MDAT), optimized performance at elevated temperatures, short cut-off string, plus excellent decking and glass-slip properties. Sulzer Inaugurates Biopolymer Engineering and Scale-Up Center Sulzer Ltd. (Winterthur, Switzerland) opened its fourth location in Switzerland. The Innovation Technology Hub (InTecH) in Winterthur Töss will further enhance Sulzer’s research and development capabilities in advanced biopolymer engineering and recycling. With 3,150 m2 of laboratory and research space, this strategic investment is part of the company’s ongoing commitment to sustainable innovation. Syensqo and Fairmat enter collaboration for carbon-fiber recycling SyensqoS.A. (Brussels, Belgium) and Fairmat S.A.S., a French company that turns carbon fiber into scalable, high-performance recycled materials, have entered into a collaboration agreement. Under this agreement, Fairmat will recycle Syensqo’s U.K. carbon fiber prepreg waste, transforming it into valuable resources for the production of new products in the sports, energy, mobility, and electronics markets.  OMAN：Government support fuels growth of plastics processing sector Two years ago, Oman and its state-owned petrochemicals group OQ launched the Labayn incentive programme – a scheme designed to encourage plastics processing companies to set up operations in the Gulf state. The initiative appears to be bearing fruit. So far, 18 companies from Europe, the Middle East, India, China, and Southeast Asia have committed to investing, said Abdul Rahman Al-Tamtami, OQ’s vice-president of global marketing, speaking at a press conference in Rotterdam in the Netherlands.   Overseas Macro Market Updates   BOJ Maintains Rates, Plans Slower Bond Tapering Next Year: The Bank of Japan kept its benchmark interest rate at 0.5% and will slow bond purchase tapering to ¥200 billion per quarter from next fiscal year (current pace: ¥400 billion/month), in line with market expectations. Trump Team Considers This Week’s Iran Talks: Axios reported the White House is weighing talks with Iran this week on the nuclear deal and Israel ceasefire. A U.S. official confirmed discussions on the proposal, with the U.S. reportedly using potential supply of bunker-busting bombs to Israel as a bargaining chip. Lagarde Urges Action to Boost Euro’s Global Role: ECB President Christine Lagarde called for decisive steps to strengthen the euro’s role in the international monetary system, emphasizing Europe must solidify geopolitical credibility, economic resilience, and institutional frameworks.   Price Information   【USD/CNY Central Parity Rate】The central parity rate of the Chinese yuan against the U.S. dollar was set at 7.1746, up 43 pips from the previous trading day. The previous day's central parity rate was 7.1789, the official closing price was 7.1802, and the overnight closing price was 7.1818. 【Raw Materials - USD Market Prices】 Ethylene (Asia): CFR Northeast Asia: $800/ton, up $10/ton CFR Southeast Asia: $850/ton Propylene (Northeast Asia): FOB Korea average: $710/ton, down $10/ton CFR China average: $760/ton North Asia LPG (CIF): Propane: $581-583/ton Butane: $551-553/ton South China LPG (July arrival, CIF): Propane: $593-603/ton Butane: $540-550/ton Taiwan LPG (CIF): Propane: $581-583/ton Butane: $551-553/ton 【LLDPE - USD Market Prices (CFR)】 Film grade: $915/ton (Huangpu) Injection molding grade: $960/ton (Dongguan) 【HDPE - USD Market Prices (CFR)】 Film grade: $910-915/ton (Huangpu), up $10/ton Hollow grade: $860/ton (Huangpu), down $5/ton 【LDPE - USD Market Prices (CFR)】 Film grade: $1,035/ton (Xiamen) 【PP - USD Market Prices (CFR)】 Homopolymer: $885-935/ton (Huangpu) Copolymer: $955-1,040/ton (Huangpu) Film grade: $1,025-1,090/ton (Huangpu) Transparent grade: $1,065/ton (Huangpu), down $20/ton Pipe grade: $1,160/ton (Shanghai)

Canadian Plastics Recycling Sustainability The collaboration, spearheaded by the Vinyl Institute of Canada, aims to divert vinyl and glass from landfills for recycling. Photo Credit: Adobe Stock/Marina Gordejeva The Vinyl Institute of Canada (VIC) has announced Project Win-Finity, a national pilot program stewarded by the association and aimed at recycling post-consumer polyvinyl chloride (PVC) windows. The program, created in partnership with Formosa Plastics Corp. USA, the National Research Council of Canada (NRC), and Vision Extrusions Group, is designed to help establish a circular recycling system for vinyl windows across Canada. The project is also supported by Fenestration Canada, Strategic Materials Inc., the Municipal Waste Association of Ontario, the Siding and Window Dealers Association of Canada, Viking Recyclers Inc., and EPL Plastics Inc. In a June 5 statement, VIC officials said the pilot is expected to be in full operation by Sept. 19, 2025, aligning with World Clean Up Day, which addresses the global solid waste problem and marine debris. The project is designed to evaluate a recycled-content model for vinyl windows and set the stage for broader recycling systems. Collection and processing of post-consumer windows will be focused within the Greater Toronto Area, organized by the Win-Finity Task Group, from the removal of windows to their reuse in new products. The VIC is headquartered in Niagara Falls, Ont.

International News Digest: Raw Material News-Eastman loses $375M DOE grant for Texas plastics recycling facility； Auto News-Asahi Kasei launches new series of Sunfort™ dry film photoresist； Packaging News- KHS Partnership with Husky to launch lightweight PET bottle ； Macro News-Institution: The growth rate of the global smartphone market has declined for three consecutive quarters.； Price information-The central parity rate of the RMB against the US dollar was reported at 7.1869, up 21 points.   The following is an international news update: 1. Eastman loses $375M DOE grant for Texas plastics recycling facility； After a U.S. Department of Energy (DOE) nreview, specialty materials company Eastman has lost a $375 million grant it had been awarded in March 2024 to help cover the costs of building its second molecular recycling facility for plastics in the country—a $1.2 billion project—in Longview, Texas, where the company has maintained an operational presence for decades. 2. KHS Partnership with Husky to launch lightweight PET bottle German packaging machinery specialist KHS , in close collaboration with Canadian injection moulding machine manufacturer Husky , has unveiled an ultra-lightweight PET bottle for still beverages.Currently knows as Factor 101, the bottle weighs just 5.89 g while holding 591 ml – a 30% material reduction compared to standard lightweight bottles on the US market, the company said. 3. Sulzer to supply proprietary equipment to Emirates Biotech for PLA facility in UAE Sulzer to supply proprietary equipment to Emirates Biotech for PLA facility in UAESulzer has recently signed a supply contract with Emirates Biotech to provide the proprietary equipment that will serve as the technological core of the world-scale Polylactic Acid (PLA) production facility being built by Emirates Biotech in the United Arab Emirates. This follows a licensing agreement signed in December 2024, reinforcing the strategic partnership between the two companies. 4. Asahi Kasei Launches New Sunfort™ Dry Film Photoresist Series According to foreign media reports, Asahi Kasei Corporation (Asahi Kasei has developed the Sunfort™ dry film photoresist TA series, aimed at meeting the growing demand in the advanced semiconductor packaging field for applications such as artificial intelligence (AI) servers. This product is positioned as a strategic product within Asahi Kasei's materials division, aiming to enhance its influence in the rapidly growing next-generation chip packaging market. The dry film utilizes traditional step exposure systems and laser direct imaging (LDI) systems, providing ultra-high resolution that helps transfer circuit patterns onto substrates during the packaging process, thereby improving the performance and precision of back-end processes.  5. BASF launches €6B sale of coatings business BASF SE has launched the previously announced sale of its coatings business, with the potential deal valued at about €6 billion, according to a Bloomberg report May 30. In recent weeks, the company has sent information on the business to potential bidders, the report said. 6. EUROPEN launches interactive guidebook to help businesses navigate EU PPWR EUROPEN has released a new interactive guidebook designed to help businesses navigate the evolving requirements of the EU Packaging and Packaging Waste Regulation (PPWR).   The following is overseas macro market information: Overseas macro market information: 【Minutes of the Federal Reserve 's May Monetary Policy Meeting.】 tend to act cautiously and predictably in terms of policy easing. He believes that it is not the time to shift policy to an expansionary stance. The policy is in a favorable position and can respond decisively when necessary. Lowering the cash rate is an appropriate response to global risks. The reason for the interest rate cut of 25 basis points is higher than that of 50 basis points. He believes that policy is ' somewhat restrictive ' at the current interest rate level. 【Goldman Sachs : Aluminium prices may fall to $ 2,100 a tonne due to accelerating Indonesian supply.】 Goldman Sachs said it expects aluminium prices to fall to a low of $ 2,100 a tonne by early 2026, a level that would suspend overinvestment in Indonesian smelting capacity. Three 500,000 tonnes smelters in Indonesia will be operational by mid-2026, earlier than expected, according to Goldman Sachs. The increase in production will lead to a million tons of excess supply in 2026, the largest excess since 2020. 【Bank of Japan Governor 's dovish remarks push the yen lower in early trading.】The yen weakened against most other G10 and Asian currencies in early trading due to dovish signs of earlier remarks by Bank of Japan Governor Takeda and Masahiro. Ueda said that uncertainty, including the prospect of trade policy, is still high, and this uncertainty may continue even if the tariffs are determined. The Bank of Japan will not pre-set interest rate policy, nor will it promote interest rate hikes in order to make room for future interest rate cuts. The US dollar rose 0.3 % against the Japanese yen in early trading, the euro rose 0.1 % against the Japanese yen, and the New York dollar rose 0.2 % against the Japanese yen. 【Institution: The growth rate of the global smartphone market has declined for three consecutive quarters.】 The latest research from Canalys shows that in the first quarter of 2025, the global smartphone market achieved only 0.2% growth, with shipments reaching 296.9 million units. As the phased peak of device replacements comes to an end and manufacturers seek healthier inventory levels, the growth rate of the global smartphone market has declined for three consecutive quarters. Samsung ranked first, with shipments reaching 60.5 million units; Apple ranked second, with shipments of 55 million units, capturing a 19% market share; Xiaomi remained in third place, with shipments of 41.8 million units and a market share of 14%. Vivo and OPPO ranked fourth and fifth, respectively, with shipments of 22.9 million units and 22.7 million units. 【Trump says Iran will not be allowed to conduct any uranium enrichment activities.】According to U.S. media reports on June 2, U.S. Middle East envoy Wittekov proposed a new plan regarding the Iran nuclear issue on May 31, which would allow Iran to conduct limited low-concentration uranium enrichment activities for a certain period of time. However, U.S. President Trump later denied this statement, stating that no uranium enrichment activities would be allowed for Iran. 【Japan 's 10-year bond auction is in hot demand, and Thursday 's 30-year auction is the next test.】 In this JPY 2.6 trillion 10-year bond auction, the bidding multiple jumped from 2.54 last month to 3.66, far exceeding the average level of the past year. Investors pay close attention to Thursday 's 30-year auction, which will determine whether the market is ready to meet the pain of normalization after the Bank of Japan withdraws from the ultra-loose policy. 【OECD once again lowered its global economic growth forecast, which is expected to be 2.9 % this year and next. 】 OECD lowered its global economic growth forecast for 2025 from 3.1 % to 2.9 %. The forecast for global economic growth in 2026 is lowered from 3 % to 2.9 %. The U.S. economic growth forecast for 2025 was lowered from 2.2 % to 1.6 %. Japan 's economy is expected to grow by 0.7 % in 2025 and 0.4 % in 2026. The UK 's economy is expected to grow by 1.3 % in 2025 and 1 % in 2026. Germany 's economy is expected to grow by 0.4 % in 2025 and 1.2 % in 2026. OECD said that easing trade tensions is the focus of global policy. Protectionism exacerbates inflationary pressure. The OECD stated that easing trade tensions is a global policy priority. Protectionism has exacerbated inflationary pressures. Price Information: 【Central parity rate of RMB vs USD】 The RMB's central parity rate against the US dollar is set at7.1869, up by 21 points; the previous trading day's midpoint was 7.1848, the previous trading day's official closing price was 7.1991, and the overnight session closed at 7.1972. 【Upstream raw material USD market prices】 Ethylene Asia:CFR Northeast Asia $780/ton; CFR Southeast Asia $850/ton. Propylene Northeast Asia:The average FOB price in South Korea is 745 USD/ton, down 5 USD/ton; the average CFR price in China is 775 USD/ton, down 10 USD/ton. North Asia frozen cargo CIF, Propane550-552 USD/ton; Butane 520-522 USD/ton. South China frozen goods CIF prices in early July: Propane at $602-612/ton; Butane at $537-547/ton. Taiwan region frozen cargo landed price, propane550-552 USD/ton; butane 520-522 USD/ton. 【LLDPE USD market price】 Film:$875/ton (CFR Huangpu), down $5/ton. Injection molding:USD 970/ton (CFR Dongguan) 【HDPE USD market price】 Thin film:$900-920/ton (CFR Huangpu), down $5/ton. Hollow:865-870 USD/ton (CFR Huangpu); 【LDPE USD market price】 Film: (Note: The word "" translates directly to "film" in English, but without additional context, it's not clear if this is referring to a specific type of film or if there should be more to the sentence. Therefore, only "Film" is provided as a direct translation.) 1025-1035 USD/ton (CFR Huangpu), down by 5 USD/ton; 【PP USD market price】 Uniform aggregation:$890-950/ton (CFR Huangpu), down $15/ton. Copolymerization:955-1060 USD/ton (CFR Huangpu); Membrane material:1025-1090 USD/ton (CFR Huangpu); Transparent: USD 1085/ton (CFR Huangpu), down USD 10/ton. Pipes:1160 USD/ton (CFR Shanghai).  

International News Digest: Raw Material News - Mitsui Chemicals Considers Splitting off Basic & Green Materials Business Auto News-China's auto export value in April reached $19.39 billion, up 6.9% month-on-month and 5.3% year-on-year Electronics and Electrical News- Sony Moves Manufacturing of High-End Xperia Phones to Third-Party OEMs Toy News - Pop Mart Suspends Labubu Sales in the UK Macroeconomic News - Trump team considers “Plan B”as reciprocal tariffs are blocked Price information - CFR Northeast Asia $780/ton; CFR Southeast Asia $850/ton   The following is the detailed international news:    1. Tariffs, a major variable! U.S. Court of Appeals: Approved! According to the CCTV News, on May 29th local time, the U.S. Court of Appeals for the Federal Circuit approved the request from the Trump administration to temporarily suspend the previous ruling made by the U.S. Court of International Trade, which prohibited the execution of the Trump administration's executive order to impose tariff measures on many countries based on the International Emergency Economic Powers Act. The U.S. Court of Appeals for the Federal Circuit also ordered both parties to submit written arguments on the issue of blocking the imposition of tariffs, with relevant documents to be submitted by early next month. The court will then decide on the next steps. U.S. government data released Thursday showed that U.S. economic activity contracted at a 0.2% annual rate in the first quarter of this year, marking its first decline in three years, disrupted by the trade war initiated by former President Trump. Additionally, affected by tariffs, an increasing number of U.S. retailers are planning to raise prices. A survey report released by Germany's Allianz Group shows that 54% of American companies are addressing the cost increases caused by U.S. tariff policies by raising prices.   2. Mitsui Chemicals Considers Splitting off Basic & Green Materials Business Mitsui Chemicals, Inc.  has begun to consider splitting off its Basic & Green Materials business ("B&GM"), which is primarily engaged in petrochemicals, in order to transition to a more robust business structure and promote the shift to green society, with a view to pursuing collaboration with other companies as well as integration and transformation. Scope of the consideration：Phenols, Industrial Chemicals, Sustainable Feedstocks, Licensing, Prime Polymer Co., Ltd. (Polyolefins), Polyurethanes While we will strive to realize the ideal vision as early as possible, we will split off B&GM and establish the business entity—which will serve as a core in future integration and transformation—by around 2027.    3. ExxonMobil to sell French subsidiary Esso S.A.F.  ExxonMobil France Holding has entered into exclusive negotiations with North Atlantic France SAS for both the proposed sale of its 82.89% majority shareholder interest in Esso Société Anonyme Française SA (Esso S.A.F.), as well as the proposed sale of ExxonMobil Chemical France SAS.With the exception of those part of the previously announced redundancy plan, all of the approximately 1,350 employees in France will be retained and remain on the same employment terms and conditions.   4. The production of the rubber and plastics industry in Russia decreased by 1.6% year-on-year from January to April, with a drop of 4.7% in April alone According to the data from the Federal State Statistics Service of Russia (Rosstat), the production of rubber and plastic products in Russia decreased by 1.6% year-on-year from January to April 2025. The industrial production index in April 2025 increased by 1.5% compared to the same period in 2024, and the cumulative index from January to April 2025 was 101.2% (a year-on-year increase of 1.2%). Compared to March 2025, the industrial production index fell by 4.2% month-on-month, dropping to 95.8%. Business managers pointed out that the shortage of personnel is still one of the main factors hindering the completion of production plans. The negative evaluations are dominant in the mining industry (-24.1%) and processing and manufacturing industry (-18.3%). Nevertheless, most managers are neutral, showing a cautious attitude towards the current business situation, demand, and production growth potential.   5. Star Plastics® offers PC/ABS FR compounds as a cost-effective alternative to ABS FR Star Plastics® is helping manufacturers navigate ongoing supply chain disruptions and cost volatility associated with ABS flame retardant (FR) materials. In response to the scarcity and rising prices of antimony – a key component in ABS FR – Star Plastics is offering its high-performance PC/ABS FR compounds as a dependable and cost-effective alternative.   6. Sony Moves Manufacturing of High-End Xperia Phones to Third-Party OEMs Sony already uses third-party manufacturers to produce its phones. This has been a strategy adopted for the mid-range smartphones so far. However, a new report indicates that the brand will now expand the strategy to its high-end devices. According to a Japanese news outlet, this is not a temporary move. It is likely a long-term strategy. You can no longer find “smartphones” on the list at Sony’s production sites in Thailand. Historically, three manufacturing sites were involved in Sony’s smartphone production. Two are in Thailand and one is in China. None of them lists “smartphones” anymore. This means that the company is completely obliterating the smartphone production of its sites. This does not mean an end, as it is now relying on third-party OEMs for such a process.   7 China's auto export value reached 19.39 billion US dollars in April, increased by 6.9% month-on-month and 5.3% year-on-year. According to data from the General Administration of Customs compiled by the China Association of Automobile Manufacturers, in April 2025, the total value of automobile imports and exports was $23.09 billion, up 6.8% month-over-month and down 2.2% year-over-year. Among these, the import amount was $3.7 billion, up 6.3% month-over-month and down 28.6% year-over-year; the export amount was $19.39 billion, up 6.9% month-over-month and up 5.3% year-over-year. From January to April 2025, the cumulative value of national automobile imports and exports was $81.88 billion, down 5.2% year-over-year. Among these, the import amount was $13.27 billion, down 34.5% year-over-year; the export amount was $68.61 billion, up 3.7% year-over-year.   8. Pop Mart suspends Labubu sales in the UK Recently, Pop Mart's latest LABUBU 3.0 series has sparked a buying frenzy in various global locations such as the United States, the United Kingdom, and Italy. Amidst the intense demand, a "major brawl" reportedly broke out at the Westfield Stratford shopping center in London. To prevent the situation from escalating, Pop Mart announced that, out of safety concerns, the Labubu series products will be temporarily removed from all UK stores.   Overseas macro market information:   【The Japanese government announced the lifting of partial sanctions on Syria】On May 30, Japan's Chief Cabinet Secretary Yoshimasa Hayashi stated that the Japanese government has lifted some sanctions on Syria. Currently, there are no detailed announcements regarding the specifics of the lifted sanctions on the official websites of various Japanese government departments. 【The United States plans to increase arms sales to Taiwan】 According to Reuters, the United States plans to increase arms sales to Taiwan, and Trump focuses on arms sales to Taiwan beyond his first term. 【Iranian Foreign Minister: Iran "Not Sure" About Approaching Deal with US】In response to recent media speculation about an upcoming agreement between Iran and the US, Iranian Foreign Minister Araghchi said on the 29th that Iran was "not sure if we have reached that point." Araghchi posted on social media that day, stating that Iran sincerely seeks a diplomatic solution that benefits all parties. However, achieving this goal requires an agreement that comprehensively lifts all sanctions against Iran and safeguards Iran's nuclear rights, including uranium enrichment. The path to reaching an agreement lies at the negotiating table, not in the media. 【Trump team considers “Plan B”as reciprocal tariffs are blocked】This plan may proceed in two steps: in the short term, the administration could invoke Section 122 of the Trade Act of 1974 to impose a maximum 15% tariff on a wide range of global economies for a period of 150 days. The second step would involve using Section 301 of the same law to establish customized tariffs for each major trading partner within those 150 days. 【Delta Air Lines to Resume Direct Flights Between Shanghai and Los Angeles】Bringing Weekly China-US Flights to 17 Delta Air Lines announced today that it will resume direct flights between Shanghai and Los Angeles starting June 2, operating three times a week. This will increase Delta’s weekly China-US flights to 17. Currently, the recovery of China-US routes is slow, with the number of flights restored being less than 30% of pre-pandemic levels. 【China-US shipping is recovering, but signs of a slowdown in container booking volumes are emerging】 This is attributed to the mutual tariff reductions that began earlier this month. The shipping price for a standard 40-foot container from Shanghai to Los Angeles has increased by nearly 17% to $3,738, marking the largest weekly relative increase this year. As of the week ending May 29, the shipping rate per container is still nearly one-third lower than the peak value in January of this year, but higher than the low point of $2,487 before Trump announced the "liberation day" tariffs at the end of March. However, the volume of container bookings has declined somewhat. Data from Vizion and Dun & Bradstreet show that the total bookings for the first three days of this week equated to approximately 106,000 twenty-foot equivalent units (TEUs). This is a decrease from 137,000 TEUs during the same period last week. Globally, the week starting May 19th was the highest booking week of the year so far. 【Volkswagen CEO stated that the company is in direct negotiations with the U.S. government regarding tariff issues】 According to reports, Volkswagen CEO Oliver Blume mentioned in an interview that the company is directly consulting with the U.S. government to resolve the tariff dispute. Blume stated that if the tariff dispute is resolved, Volkswagen is willing to make "additional, large-scale" investments based on its existing investments in the U.S.   Price information: 【Central parity rate of RMB against USD】 The central parity rate of the renminbi against the US dollar was reported at 7.1848, up 59 points; the previous trading day's central parity rate was 7.1907, the previous official closing price was 7.1916, and the overnight closing price was 7.1865. 【 Upstream raw material US dollar market prices】 Ethylene Asia: CFR Northeast Asia $780/ton; CFR Southeast Asia $850/ton. Acrylic Northeast Asia: FOB Korea average price 750 USD/ton; CFR China average price 785 USD/ton. North Asia cryogenic cargo, propane at $550.5-$552.5 per ton; butane at $520.5-$522.5 per ton. South China frozen cargo CIF prices for June: Propane 623-633 USD/ton; Butane 563-573 USD/ton. The CIF price for frozen goods in Taiwan is propane $550.5-$552.5/ton; butane $520.5-$522.5/ton. 【LLDPE US Dollar Market Price】 Film: $880/ton (CFR Huangpu); Injection molding: 970 USD/ton (CFR Dongguan); 【HDPE USD market price】 Film: $905-925 per ton (CFR Huangpu). Hollow: USD 865-870 per ton (CFR Huangpu); 【 LDPE USD market price】 Film: 1025-1040 USD/ton (CFR Huangpu); 【PP USD market price】 Homopolymer: $905-$950/ton (CFR Huangpu); Copolymer: $955-$1060/ton (CFR Huangpu); Material: $1025-$1090/ton (CFR Huangpu); Transparent: $1095/ton (CFR Huangpu) Pipe material: 1160 USD/ton (CFR Shanghai).  

International News Digest: Raw Material News-DOMO Chemicals offers its ISCC PLUS certified mass balanced PA6 resins Automotive News-Sumitomo Chemical's glass fiber reinforced PP materials are seeingin sales scale in Europe Packaging News-Danish recycler launches recycled PET lid for hot beverages Macro News-Turkey Initiates Anti-Dumping Investigation on Sodium Gluconate from China Price Information - The central parity rate of the RMB against the US dollar was reported at 7.1876, down by 43 points.   The following is the detailed international news: 1.DOMO Chemicals offers its ISCC PLUS certified mass balanced PA6 resins In line with DOMO Chemicals' corporate mission to develop polyamide solutions that contribute to a more sustainable world, the company has adopted the mass balance approach with the aim of providing bio-based raw materials to the customers.The entire portfolio of DOMAMID® PA6 base polymers is now available with the ISCC PLUS certification, offering increased customer choice while maintaining high quality standards.   2. Sumitomo Chemical's glass fiber reinforced PP material continues to expand its sales scale in Europe. Sumitomo Chemical showcased its "glass-based transparent display," glass fiber-reinforced polypropylene (PP) automotive-grade material "THERMOFIL HP," and glass fiber-reinforced recycled PP material "THERMOFIL CIRCLE" at the recently concluded Human & Automotive Technology Expo 2025 Yokohama in Japan. The THERMOFIL series represents specialty plastics that integrate PP with glass fibers through exclusive compounding technology. Notably, THERMOFIL HP containing 50% glass fiber content has entered global commercial distribution, demonstrating superior strength compared to engineering plastics like polyamide (PA) 66 and PA6 with 30% glass fiber reinforcement, while maintaining a lighter weight advantage. 3. Danish recycler launches recycled PET lid for hot beverages Rigid food packaging manufacturer and recycler Faerch (Holstebro, Denmark) has introduced a hot drinking lid made from recycled PET. According to the company, the new lid is made from 85% rPET and is fully recyclable back into food-grade packaging. 4.Borealis invests €100M to expand PP capacity in Germany Borealis is investing over €100 million in a new line to produce High Melt Strength polypropylene (HMS PP) at its Burghausen plant in Germany, the Austria-based polymer manufacturer announced at its pre-K online event. 5.Global first:D3O Unveils Non-Newtonian Motorcycle Helmet Technology​ Technology media Newatlas published a blog post yesterday (May 26) reporting that the world's first non-Newtonian material motorcycle helmet has been developed and is expected to be available for sale by 2027. Developed by D3O, the helmet leverages a groundbreaking material whose viscosity dynamically adapts to external forces. During normal use, it remains soft and fluid-like for comfortable wear, but instantly hardens into a rigid, protective shell upon violent impact—delivering unmatched safety without compromising comfort. 6. Healthcare TPE Advancing Innovation in Loop Recorder Monitoring Technology KRAIBURG TPE Healthcare TPE Advancing Innovation in Loop Recorder Monitoring Technology.Detecting heart rhythm irregularities early can be life-saving. Loop recorder monitoring devices improve long-term cardiac care by continuously tracking irregular heart rhythms and storing data for diagnosis. These devices must meet strict safety, biocompatibility, and durability standards. Overseas macro market information: 【Turkey Initiates Anti-Dumping Investigation on Sodium Gluconate from China】On May 25, the Turkish Ministry of Trade issued Announcement No. 2025/9, stating that, at the request of Turkish producers, an anti-dumping investigation has been initiated against sodium gluconate originating from China. The investigation period for dumping is from January 1, 2024, to December 31, 2024, and the injury investigation period is from January 1, 2022, to December 31, 2024. 【Tariffs Accelerate Sustained Surge in US Used Car Market​】 Auto service enterprisesCox Automotive's data shows that at the beginning of May, dealers' used car inventory was only enough to last 43 days. Over the past two months, the average price of the 50 best-selling used cars in the U.S. has been increasing every week, approaching $29,000. In contrast, the average price of new cars exceeds $48,000. 【The Japanese cabinet approved388 billion yen in reserve funds to counter U.S. tariff measures】On the 27th local time, the Japanese government decided in a cabinet meeting to use 388 billion yen from the reserve fund as part of an emergency response plan to address the tariff measures implemented by the U.S. government. Among this, 288 billion yen will be used to subsidize summer electricity and gas costs, and 100 billion yen will be allocated for "key support for local delivery funds," which local governments can utilize based on specific circumstances. 【Japanese Finance Minister: Will Closely Monitor Developments in the Bond Market】Japanese Finance Minister Shunichi Kato stated that interest rates are influenced by multiple factors, but the market generally believes that rising rates reflect concerns about the country's fiscal conditions. He emphasized that the government will closely monitor the bond market situation, including the ultra-long-term bond sector, and will continue to maintain close dialogue with bond investors and market participants. 【Korean Issuance20-year Treasury bond】South Korea issues 20-year government bonds with a yield of 2.715%. 【Canalys: Africa's smartphone market is expected to achieve a moderate growth of 3% by 2025.The African smartphone market got off to a good start in 2025, with regional shipments growing for the eighth consecutive quarter. The latest data from Canalys shows that in the first quarter of 2025, shipments increased by 6% year-on-year, reaching 19.4 million units. Canalys predicts that constrained by slow infrastructure development, rising sovereign debt, and macroeconomic instability, the African smartphone market is expected to see a moderate growth of 3% in 2025. 【The Japanese Ministry of Finance is considering reducing the issuance of ultra-long-term bonds and issuing more short-term bonds.】 Sources said that the Japanese Ministry of Finance will consider adjustments untilThe composition of the bond program for the fiscal year ending March 2026. It may involve reducing the issuance of ultra-long-term bonds and issuing more shorter-term bonds; the total issuance volume will remain unchanged. The Ministry of Finance will decide on the relevant changes after meeting with market participants in mid to late June. This move caused the yield on Japan's 20-year government bonds to plummet by 17.5 basis points during the trading day. 【Japan's government advisory group warns that rising bond yields will impact the fiscal situation.】  A Japanese government advisory panel has urged authorities to intensify fiscal consolidation efforts, as the Bank of Japan's sustained monetary tightening actions exacerbate the risk of rising debt repayment costs for Japan. According to a recommendation submitted on Tuesday to Katsunobu Kato, Japan's Finance Minister, the Fiscal System Council warned that the BOJ's interest rate hikes and reduction in bond purchases are causing a steady rise in government bond yields, necessitating more attention to Japan's fiscal situation. The council stated,"We must manage the fiscal situation with a high sense of urgency to prevent rising debt costs from crowding out necessary policy spending." 【Nomura Securities: If the government reduces issuanceThe ultra-long-term Japanese government bond market may further stabilize.】Nomura Securities said that the ultra-long Japanese government bond market could continue to stabilize in the future if the Japanese government decides to reduce the issuance. "Personally, I think the Ministry of Finance may start to shift to short-term borrowing from the third quarter, reducing the issuance of ultra-long bonds and increasing the issuance of short-term bonds," said Jin Moteki, a strategist at Nomura Securities. "This expectation seems to have led to a bull flattening of the Japanese government bond yield curve today." It is necessary to closely watch the results of the Japanese government bond primary dealer meeting, which is scheduled to be held on June 20. Price Information: 【 Central parity rate of RMB against USD】 The central parity rate of the yuan against the US dollar was set at7.1876, down 43 points; the previous trading day's midpoint was 7.1833, the previous trading day's official close was 7.1843, and the overnight closing was 7.1870. 【Upstream raw material USD market price】 Ethylene Asia:CFR Northeast Asia $780/ton; CFR Southeast Asia $850/ton. Propylene Northeast Asia:FOB Korea average price was $750 per ton, down $10 per ton; CFR China average price was $785 per ton, down $10 per ton. North Asia Frozen Cargo CIF Propane542-544 USD/ton; Butane 515-517 USD/ton. South China Frozen Goods CIF price in June, Propane 618-628 USD/ton; Butane 563-573 USD/ton. Taiwan region frozen cargo delivered price, propane$542-544/ton; Butane $515-517/ton. 【LLDPE USD market price Film:900 USD/ton (CFR Huangpu); Injection molding $990/ton (Dongguan Bonded Area spot); 【HDPE USD market price Film: The translation provided may be a partial one as the original Chinese text '' translates fully to 'Thin film' in English. Please provide the complete phrase or sentence for accurate translation.910-930 USD/ton (CFR Huangpu); Hollow:$865-870/ton (CFR Huangpu) 【LDPE USD market price】  Thin film:1035-1040 USD/ton (CFR Huangpu); 【PP USD market price Homopolymerization:905-950 USD/ton (spot); Copolymerization:$955-1060/ton (CFR Huangpu), down $25/ton; Membrane material:$1025-1090/ton (CFR Huangpu) Transparent1095 USD/ton (CFR Huangpu); Tubing:$1160/ton (CFR Shanghai). Edit:Canoe  

News Headlines: Raw Materials News - $380 Million! PPG to Build New Aerospace Coatings Plant in the United States Automotive News - FF Officially Receives Factory and Operation Center in Ras Al Khaimah, UAE Packaging News-PepsiCo moves its sustainability goal posts Electronics and Electrical News-PLASTPOL Poland Exhibition ongoing! KINGFA responds to European market demands with new materials. Macroeconomic News- South Korea may hold a third round of trade negotiations with the U.S. after the election. Price InformationEthylene Asia: CFR Northeast Asia $780/ton; CFR Southeast Asia $870/ton   The following are details of international news: 1、 $380 million! PPG to build new aerospace coatings factory in the USA Recently,PPG will invest $380 million to build a new aerospace coatings and sealants production facility in Shelby, North Carolina, USA. The construction project of this 62-acre plant will initially include production and warehousing units, with plans to start construction in October 2025 and expected completion in the first half of 2027. 2、FF officially receives the factory and operation center in Ras Al Khaimah, UAE. On May 23, Faraday Future (FF) announced that it had officially taken over the Ras Al Khaimah factory and operations center in the UAE. This factory will be used to support the production of both FF and FX models. Previously, on May 21, 2025, during the "Made in UAE 2025" summit, the Ras Al Khaimah Economic Zone (RAKEZ) officially announced the cooperation project. FF’s wholly-owned subsidiary, Faraday Future Middle East FZ-LLC, signed the relevant agreement with RAKEZ on the spot. 3、Acquisition of SL Recycling site in Germany As expansion opportunities for German recycler Thees Kunststoffverarbeitung are limited at its headquarters location in the long term, the company plans to acquire an additional site in the neighbouring town of Bakum.According to Thees, the site already fulfils the requirements of a plastics recycler and offers enough space to efficiently organise and automate operations. By the end of 2025, Thees intends to install at least three recycling lines in Bakum and employ 10 to 15 people. The site is expected to focus primarily on the treatment of post-consumer waste, though the firm also recycles industrial waste. 4、Yizumi Turkey Subsidiary Opens: Leveraging the Asia-Europe Hub to Propel a New Global Landscape Local timeOn May 21, Yizumi Turkey Precision Machinery Co., Ltd. (hereinafter referred to as: Turkey Subsidiary) held a grand opening ceremony and open day event in Istanbul's Silivri. Industry experts, representatives from agency companies, and client representatives attended the celebration. At the event, Mr. Zhang Tao, Director and Deputy General Manager of Yizumi, General Manager of the Injection Molding Machine Division, and General Manager of the International Business Division, delivered a speech. He pointed out that the establishment of the Turkey subsidiary is not only an important milestone in Yizumi's globalization journey, marking substantial progress in the company's strategic layout to deepen its presence in the Middle East and Africa markets, but also symbolizes a key step in Yizumi's commitment to localizing its strategy and building a new pattern of coordinated development between the Asian and European markets. 5、PepsiCo moves its sustainability goal posts PepsiCo. Inc. is cutting some key environmental goals related to plastic packaging and extending its timeline to achieve those new targets.The Purchase, N.Y.based beverage and snack food giant is replacing a previous goal of using 50 percent recycled content in plastic packaging by 2030 to with a new target of "40 percent or greater recycled content in our plastic packaging by 2035 or sooner," the company said. 6、Researchers to develop a process to remove pollutants from plastic production Researchers at the University of Minnesota are developing a process to remove pollutants from plastic production with selective combustion.The process involves engineering certain materials to only react to one molecule found in a mixture of hydrogen and carbon atoms, called hydrocarbons, and effectively removing toxic pollutants found in different plastics. 7、PLASTPOL in Poland is ongoing! KINGFA responds to European market demands with new materials. The 2025 PLASTPOL Poland Exhibition has grandly opened! At Pavilion 5, B21, KINGFA is fully demonstrating to the European market how our innovative materials empower industries and contribute to the achievement of sustainable development goals..Focusing on the Three Core Highlights of the KINGFA Booth：1、The Charm of Biobased Materials；"Turning waste into treasure"Recycled plastic(PCR)；3、Driving performance upgrades"Hardcore" Special Engineering Plastics(SEP)。 8、Packaging company must pay £476,995 after fraud conviction A company and its director have been ordered to pay £476,995 at Birmingham Crown Court following an investigation into the fraudulent entry of waste packaging data.At Birmingham Crown Court, Shaobo Qin, a director of EDU Case Ltd, pleaded guilty to fraud by false representation and was handed a 2-year prison sentence suspended for 18 months. Overseas macro market information: 【Surging higherJapan's rice price rose by 98.4% in April, marking the highest increase since 1971. The Ministry of Internal Affairs and Communications of Japan announced that the data shows,In April, Japan's consumer price index excluding fresh food was 110.9, up 3.5% year-on-year. Among this, the rice category surged by 98.4% compared to the same period last year. This marks the largest increase since comparable data became available in 1971 and represents the seventh consecutive month of record-breaking growth. 【The EU will cancel the tariff-free policy for Ukrainian agricultural products.】  The spokesperson for the European CommissionOn the 22nd, it was stated that the EU will not extend the wartime "autonomous trade measures" implemented since 2022, which exempted Ukrainian agricultural products from tariffs. The EU spokesperson said that the current tariff-free policy for Ukraine will expire on June 5th, and from June 6th, agricultural trade between the EU and Ukraine will be carried out under the framework of the trade agreement signed by both parties in 2017. 【The European Parliament passes bill imposing tariffs on Russian and Belarussian fertilizers and agricultural products.】  Local timeOn the 22nd, the European Parliament voted to pass a new tariff bill imposing tariffs on fertilizers and some agricultural products from Russia and Belarus. Specific measures include a basic tariff of 6.5% on fertilizers imported from Russia and Belarus, with an additional tax of 40 to 45 euros per ton to be added during the period from 2025 to 2026. Regarding agricultural products, it was decided to impose a 50% tariff on agricultural products from Russia and Belarus that have not yet been subject to additional tariffs. 【To avoid uncertainty in trade policy, American importers are rushing to build up inventory. "Bonded warehouse" stockpiling Chinese goods Facing the abuse of export control measures by the US, American importers are accelerating the construction of bonded warehouses to stockpile Chinese goods, demonstrating the high degree of integration between the Chinese and American economies. According to ReutersOn the 21st, it was reported that importers in the United States, from clothing to auto parts, are rushing to build bonded warehouses for all kinds of Chinese imported goods. According to a previous CNN report, bonded warehouses can store imported goods for up to five years. These companies plan to use bonded warehouses to avoid tariffs and the uncertainty brought about by the US government's chaotic trade policies, waiting until the situation becomes clear before taking out the goods and paying tariffs at the latest rate. 【 Korea may hold a third round of trade talks with the U.S. after the general election】  According to Yonhap News Agency, South Korea may hold a third round of trade talks with the United States after the general election. 【Report: The U.S. Trade Representative will inform the EU.Their proposal is not good enough. The British Financial Times reported that, according to the information obtained by the US Trade Representative's Office, People familiar with Lille's thinking revealed that Griel is preparing to tell EU counterpartsMaroš Šefčovič, the EU's proposal for trade negotiations did not meet U.S. expectations. The U.S. was dissatisfied with the EU's offer to only mutually reduce tariffs rather than commit to independently lowering them. 【European Central Bank Governing Council member Stournaras: Expected There will be an interest rate cut in June. European Central Bank Governing Council member Stournaras said that he expects Interest rates will be cut in June and then remain stable.   Price information: 【Central parity rate of RMB against USD】 The central parity rate of the yuan against the dollar is reported.7.1919, down 16 points; the previous trading day's midpoint was 7.1903, the previous trading day's official closing price was 7.2040, and the previous night session closed at 7.2060. 【 Upstream raw material US dollar market prices】 Ethylene Asia:CFR Northeast Asia $780/ton; CFR Southeast Asia $870/ton. Propylene Northeast Asia: FOB Korea average price $760/ton; CFR China average price $795/ton. North Asia frozen cargo, propane FAS price540.5-542.5 USD/ton; Butane 514.5-516.5 USD/ton. South China Frozen Goods June CIF prices: Propane 617-627 USD/ton; Butane 567-577 USD/ton. Taiwan region frozen cargo CIF price, propane540.5-542.5 USD/ton; Butane 514.5-516.5 USD/ton. 【LLDPE USD market price】 Film:900 USD/ton (CFR Huangpu); Injection molding: $990/ton (Dongguan Bonded Area spot); 【HDPE USD market price】 Thin film:910-930 USD/ton (CFR Huangpu) The void: It seems there might have been a misunderstanding in the original request as "" translates directly to "middle air" or "center hollow", not "The void". If you meant something else, please provide more context.$865-880 per ton (CFR Huangpu) 【LDPE USD market price】 Film:1040-1060 USD/ton (CFR Huangpu) 【PP USD market price】 Uniform aggregation:970-985 USD/ton (spot); Copolymerization:980-1060 USD/ton (CFR Huangpu); Membrane material:1025-1090 USD/ton (CFR Huangpu); Transparent:1030-1100 USD/ton (CFR Huangpu), an increase of 15 USD/ton; Pipe materials:1,160 USD/ton (CFR Shanghai).  

Siemens Healthineers has just announced plans to move part of Varian's manufacturing operations from Mexico to the United States. The company plans to transfer Varian's manufacturing operations in Baja California, Mexico, to Palo Alto, California, which is expected to add about 50 manufacturing jobs. Not only that, the company also plans to invest $150 million in new projects to expand production scale, create job opportunities, and better serve American customers.   01 Set up additional warehouses in the US Build Experience Center Against the current backdrop, many healthcare technology companies are seeking to improve their domestic infrastructure in the U.S. to mitigate the impact of potential tariff policies that may be implemented by the Trump administration. Siemens Healthineers’ move is in line with this trend. Siemens Healthineers' recent investment in the U.S. is built on its annual R&D spending of $900 million in the country. Since 2019, Siemens Healthineers has also invested $1 billion in the U.S. through facility expansions, acquisitions, and strategic partnerships. In addition to migrating Varian's manufacturing operations, Siemens Healthineers also plans to enhance the resilience of its supply chain by opening two new large supply warehouses. These warehouses, located in Dayton, New Jersey, and Manteca, California, are expected to increase the availability of parts supply by nearly a third, thereby enhancing the flexibility of the supply chain. Additionally, the company plans to build a 60,000-square-foot experience center in Charlotte, North Carolina, to help healthcare providers achieve digital and healthcare transformation. Siemens Healthineers expects that this business migration will streamline supply chain processes and enhance its ability to meet the demand for radiotherapy solutions. John Kowal, President and Head of Siemens Healthineers Americas, said, "We have a large workforce and broad innovative portfolio in the U.S. and are making important contributions to the U.S. healthcare system. With this new investment, we are further demonstrating our long-term commitment and dedication to growing with the U.S. economy."   02 Roche Group has been "backstabbed" Siemens Healthineers: Remain Cautious Recently, Jochen Schmitz, the Chief Financial Officer of Siemens Healthineers, stated that the current 10% basic tariff imposed by the U.S. accounts for over 50% of the company's tariff costs. The Trump administration's goal was to use tariffs as leverage to force companies to bring production jobs back to the U.S. in order to reduce their product costs. Siemens Healthineers allocates its business in various countries roughly according to the regional sales volume. Therefore, the United States has about 30% of Siemens Healthineers' employees, Europe 40%, Asia 20%, and China 10%. From the above personnel allocation, it is evident that the US market stands second only to Europe in importance. Bernd Montag, CEO of Siemens Healthineers, stated that the US market will account for approximately 36% of the company's revenue in 2024. Bernd Montag said that the company can shift production, but only if it sees "economic justification." That means we do have a strong business base in the US, and we believe we have the ability to adapt to any tariff environment going forward. But these kinds of decisions don’t get made overnight, and the situation is still fluid. For long-term investment like this, you need clarity. As for making adjustments to our production footprint to accommodate a bigger structural shift, it’s too early to say. But let me be clear: in the medium term, we’re confident that with our global manufacturing footprint, we can mitigate any potential impact from tariffs,” Montag said. Bernd Montag's remarks reflect a certain level of uncertainty and a wait-and-see attitude among some businesses regarding the unpredictable environment created by the frequent policy changes of the Trump administration. For example, recently, diagnostics giant Roche was betrayed. In April, Roche announced that it will invest $50 billion in the United States over the next five years, creating more than 12,000 jobs, with a focus on the medical device sector. On May 12, Roche announced plans to invest up to $550 million (nearly 4 billion RMB) to expand its continuous glucose monitoring (CGM) manufacturing center in the United States. On that day, U.S. President Trump signed an executive order at a press conference in the White House aimed at significantly reducing domestic drug prices in the United States to align them with the lowest drug prices in the world. Trump anticipated that this move would lead to a substantial decrease in prescription drug and medication prices in the U.S., with reductions of up to 59% to 90%. He referred to this initiative as "one of the most influential executive orders in American history."   It is important to note that the U.S. market may contribute more than 60% of the global revenue and over 70% of the profits in the innovative drug sector. This policy undoubtedly strikes at the heart of pharmaceutical companies.   On May 14th, Swiss pharmaceutical company Roche responded urgently that if U.S. President Donald Trump implements an executive order to cut the cost of prescription drugs, the company will need to reconsider its planned investments in the United States. Roche expects that this executive order will not affect its business this year, but it stated that it would undermine America’s position as a world-leading pharmaceutical and healthcare ecosystem, hinder U.S. economic growth, and lead to unemployment.   Compared with Roche Group's aggressive investment in the United States, Siemens Healthineers' supply chain adjustments are currently more cautious. Schmitz said that Siemens Healthineers might first make some minor adjustments to its supply chain to mitigate the impact of tariffs, or consider adjusting its pricing strategy. The company may also more closely examine its corporate costs and expenditures, and make cuts if necessary to offset the costs brought by increased tariffs. He said that so far, Siemens Healthineers has been cautious about raising prices to mitigate the impact of tariffs.   03 The impact of tariffs in the fourth quarter may significantly intensify. On May 7th, Siemens Healthineers released its second-quarter financial report. Despite the impact of tariffs, the financial results remained strong. However, Siemens Healthineers indicated that the impact of tariffs could significantly intensify in the coming months, and the company expects to invest between $227 million and $340 million in tariff mitigation measures. Siemens Healthineers' revenue for the second quarter of 2025 reached $6.7 billion, a 25% increase compared to the second quarter of 2024. New orders grew strongly in the second quarter. The imaging business segment experienced the fastest growth, with an increase of nearly 9%; Varian's radiation therapy business segment saw a 13% growth in orders; advanced therapy business grew by 4%; and the diagnostics business is expected to achieve a 6.3% growth. In the second quarter, revenue for the imaging business segment grew by 8.7% to nearly $3.7 billion. Particularly strong performance was seen in molecular imaging, where novel tracers used for theranostics drove volumes in the U.S. PETNET business as well as in the computed tomography (CT) business. The CT business also delivered strong results. At the 2024 Radiological Society of North America (RSNA), Siemens unveiled a new range of photon-counting CT systems at different price points, with orders set to begin in 2025. From a regional perspective, the imaging business in the Americas has seen significant growth. The positive performance in North America is largely attributed to an 8-year, $600 million partnership agreement reached with Alberta, Canada. This agreement aims to enhance the province's capacity to provide medical services to an increasing number of patients by introducing new imaging and radiation therapy systems. Siemens stated that the agreement involves the sale of a large number of new imaging and treatment systems. In addition, revenue in the Asia-Pacific region has seen slight growth. Meanwhile, due to ongoing delays in customer orders, revenue in China has experienced a slight decline. In the Europe, Middle East, and Africa region, revenue has decreased compared to the strong growth seen in the same period last year. For the fiscal year 2025, Siemens Healthineers still expects revenue to grow by 5% to 6% year over year. Excluding the factors of tariffs and the uncertainties brought about by the U.S. trade war, the financial results would have been more positive. The company will closely monitor the fourth quarter, as it is typically the period with the most orders. At that time, the U.S. is expected to impose a higher tariff of 20% on goods from Europe, which will have the maximum impact on increasing volumes of import and export trade. — Trump's capriciousness has had a significant impact on the healthcare sector. His tariff policies have led to increased costs for medical supplies and equipment, disrupting supply chain stability andAt the same time, his "Most Favored Nation" drug pricing policy, although aimed at lowering drug prices, has faced significant challenges in implementation and has already sparked strong backlash from the pharmaceutical industry. These policy uncertainties pose challenges for the healthcare industry, prompting companies to reassess their market positioning and strategies. They also accelerate the overseas expansion of medical products and domestic substitution in China, driving the reconfiguration of the global healthcare value chain.

On April 16, 2025, Illumina announced through an internal email a global workforce reduction of approximately 3.5% to advance its $100 million cost-cutting target. Based on the employee count of 8,970 at the end of 2024, this layoff affects over 300 people. Illumina's layoffs are not an isolated incident, but part of a series of adjustments made in recent years. Since 2022, the company has implemented several layoff plans. In 2022, Inmune announced a large-scale layoff, reducing approximately 500 employees globally, accounting for 5% of its total workforce. This layoff is seen as an important measure for Inmune to cope with cost pressures and changes in the industry. 2023 Multiple rounds of layoffs: Due to continued optimization of personnel structure at Meina, the specific number of layoffs has not been disclosed, but it involves multiple departments and regions. In 2024, California Layoffs: Illumina terminated the positions of approximately 50 employees in California, signaling further adjustments in its U.S. domestic market. In February 2025, 96 employees were laid off, mainly at the headquarters in San Diego, indicating that Illumina is still continuously optimizing its internal resource allocation. This round of layoffs is Illumina's second layoff action after the major layoffs in February this year, but details such as specific layoff regions have not been disclosed yet. It remains unclear whether the layoffs are related to the business reduction caused by being included in the unreliable entity list by China's Ministry of Commerce. On April 15, Jacob Thaysen, CEO of Illumina, stated during an interview at the 2025 Abu Dhabi Global Health Week that China remains a very significant market force, and they are exploring ways to bring gene sequencers back to China. Jacob Thaysen emphasized in the above interview, "Our products are currently on the unreliable list, which means we cannot sell instruments to China. However, we will continue to provide consumables support to all our Chinese customers, especially Chinese patients who need high-quality sequencing to receive the right treatment." Due to its long-term monopoly in the global gene sequencing market, Illumina is also known as the "Google" of the genetic technology industry. Public information shows that Illumina was founded in 1998 and is headquartered in the United States. As a leading company in the global gene sequencing field, its business covers oncology, genetics and infectious diseases, reproductive health, and other areas, with core products including high-throughput gene sequencers and gene chips. Since entering the Chinese market in 2005, Illumina has held a significant position in China's gene sequencing instrument market. According to financial report data, in 2024, Illumina's revenue in China reached 2.2 billion yuan, with instrument revenue accounting for 20%-30% of the total. On February 4, China's Ministry of Commerce announced in a statement that Illumina was included in the "Unreliable Entities List" due to its violation of normal market transaction principles, interruption of normal transactions with Chinese enterprises, and discriminatory measures against Chinese enterprises, which severely harmed the legitimate rights and interests of Chinese enterprises. It was also revealed by industry insiders that Meina suddenly interrupted cooperation with several Chinese biopharmaceutical companies under the pretext of "supply chain security review," even seizing already paid orders, which caused dozens of domestic cancer early screening and genetic disease research projects to be forced to halt. The day after being included in the list, Illumina issued a statement saying that the company was "conducting a detailed assessment of the impact of the relevant matters and actively seeking solutions," while emphasizing that it "always adheres to market-oriented and rule-of-law principles in its global operations." On March 4, the Chinese Ministry of Commerce announced the inclusion of the American company Illumina on the unreliable entity list and prohibited it from exporting gene sequencing instruments to China. This decision takes effect immediately upon announcement. On March 11, Illumina responded to the aforementioned announcement, stating that it fully respects the decision of China's Ministry of Commerce and will continue to operate globally in accordance with market-oriented and legal principles, strictly complying with the laws and regulations of all countries or regions where it operates, including China. In addition, Ankur Dhingra, the Chief Financial Officer of Mena, stated, "Our new guidance for fiscal year 2025 indicates that revenue contributions from China will be relatively limited, and we expect the current macro trends to persist." In addition, Inmune has revealed that the company is developing an incremental cost reduction plan of about $100 million for the fiscal year 2025. These savings will help mitigate the impact of various potential scenarios related to the decline in revenue and associated operating income from its Greater China business. On April 8, the 91st China International Medical Equipment Fair (CMEF) grandly opened at the National Exhibition and Convention Center (Shanghai), but Illumina did not attend the exhibition. It is widely believed that Illumina's absence may be related to its inclusion on the "Unreliable Entity List." On the other hand, the industry generally believes that the ban on Illumina's export of gene sequencers to China is expected to accelerate the domestication process of China's gene sequencer market. A pharmaceutical researcher told the media in an interview that leading domestic companies such as MGI Tech and Genemind Biotech will benefit from this. For BGI Genomics, the ban on high-end products imported from the United States makes it easier for domestic equipment to enter the market, boosting performance recovery, while also buying time for the research and development of a new generation of high-throughput sequencing devices. According to media reports, in fact, some customers of Illumina have begun to switch to choose domestic options. Peking Union Medical College Hospital announced in April 2025 that it would suspend its collaboration with Illumina on a rare disease genomic program and instead adopt the BGI Genomics DNBSEQ-T20 sequencing platform. The contraction of Illumina's business in the Chinese market had already become evident in previous years. According to financial reports, Illumina's market share in China's gene sequencing instrument and consumables market, calculated by annual revenue, has declined from 64.50% in 2021 to 54.2% in 2023. Additionally, according to data from CIC, in 2023, MGI's market share in China has reached 47.3%, breaking Illumina's domestic monopoly.

On April 15th, U.S. time, the White House website reiterated that due to China's retaliatory measures, goods exported from China to the U.S. are now facing tariffs of up to 245%. As early as April 11, a spokesperson for China's Ministry of Commerce stated that the U.S. imposition of excessively high tariffs on China has turned into a numbers game, holding no practical economic significance. If the U.S. continues with this tariff numbers game, China will not pay it any heed. Actually, the latest statement from the White House "China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions." That is, the maximum (up to) tariff that goods going from China to the United States might face could be 245%, not all goods. The number is not a newly imposed tariff, but the result of adding the 100% tariff on some goods (such as syringes, needles) during the 2018 trade war to the additional 145% tariff in 2025. For instance, The New York Times previously illustrated that the tariffs on certain medical products could reach up to 245% due to the==== rule. Attached figure.

The White House announced on April 15 local time that due to (China's) retaliatory measures, Chinese goods exported to the U.S. now face tariffs as high as 245%.

BOLSTERING AMERICA’S CRITICAL MINERALS FUTURE: Today, President Donald J. Trump signed an Executive Order launching an investigation into the national security risks posed by U.S. reliance on imported processed critical minerals and their derivative products. The Order directs the Secretary of Commerce to initiate a Section 232 investigation under the Trade Expansion Act of 1962 to evaluate the impact of imports of these materials on America’s security and resilience. This investigation will assess vulnerabilities in supply chains, the economic impact of foreign market distortions, and potential trade remedies to ensure a secure and sustainable domestic supply of these essential materials. The investigation will culminate in a report detailing risks and providing recommendations to strengthen domestic production, reduce dependence on foreign suppliers, and enhance economic and national security. If the Secretary of Commerce submits a report finding that imports of critical-mineral articles threaten to impair national security and the President decides to impose tariffs, any resulting tariff rate imposed under Section 232 would take the place of the current reciprocal tariff rate, pursuant to President Trump’s April 2 order. COUNTERING THREATS TO NATIONAL SECURITY AND ECONOMIC STABILITY: President Trump recognizes that an overreliance on foreign critical minerals and their derivative products could jeopardize U.S. defense capabilities, infrastructure development, and technological innovation. Critical minerals, including rare earth elements, are essential for national security and economic resilience. Processed critical minerals and their derivative products are key building blocks of our defense industrial base and integral to applications such as jet engines, missile guidance systems, advanced computing, radar systems, advanced optics, and secure communications equipment. The United States remains heavily dependent on foreign sources, particularly adversarial nations, for these essential materials, exposing the economy and defense sector to supply chain disruptions and economic coercion. Foreign producers have engaged in price manipulation, overcapacity, and arbitrary export restrictions, using their supply chain dominance as a tool for geopolitical and economic leverage over the United States. A few months ago, China banned exports to the United States of gallium, germanium, antimony, and other key high-tech materials with potential military applications.   Just this week, China suspended exports of six heavy rare earth metals, as well as rare earth magnets, in order to choke off supplies of components central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. STRENGTHENING AMERICAN INDUSTRY: This Executive Order builds on previous actions taken by the Trump Administration to ensure U.S. trade policy serves the nation’s long-term interests. On Day One, President Trump initiated his America First Trade Policy to make America’s economy great again. On Liberation Day, President Trump imposed a 10% tariff on all countries and individualized reciprocal higher tariffs on nations with which the U.S. has the largest trade deficits in order to level the playing field and protect America’s national security. More than 75 countries have already reached out to discuss new trade deals. As a result, the individualized higher tariffs are currently paused amid these discussions, except for China, which retaliated. China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions.   President Trump signed proclamations to close existing loopholes and exemptions to restore a true 25% tariff on steel and elevate the tariff to 25% on aluminum. President Trump unveiled the “Fair and Reciprocal Plan” on trade to restore fairness in U.S. trade relationships and counter non-reciprocal trade agreements.    President Trump signed a memorandum to safeguard American innovation, including the consideration of tariffs to combat digital service taxes (DSTs), fines, practices, and policies that foreign governments levy on American companies. President Trump signed similar Executive Orders launching investigations into how imports of copper and imports of timber, lumber, and their derivative products threaten America’s national security and economic stability.

The Trump administration promoted a trade investigation led by the Department of Commerce.Semiconductors and pharmaceuticalsThe plan to impose import tariffs. The measures announced on Monday in the Federal Register are a prelude to the imposition of tariffs and could potentially expand Trump's global trade war. The Ministry of Commerce stated in two notices that it has initiated an investigation"Semiconductor and semiconductor manufacturing equipment" "Medicines and pharmaceutical ingredients, including finished pharmaceutical products"The impact of imports on U.S. national security. These investigations, which began on April 1st, were ordered under Section 232 of the Trade Expansion Act and may last for months. According to the law, the Secretary of Commerce should submit the investigation results within 270 days, but Trump and other officials have indicated that these tasks might be concluded more quickly. Trump has long condemned the national security threat posed by foreign-made pharmaceuticals and chips and has threatened tariffs on imports to revive U.S. manufacturing of these products. But these tariffs also have the potential to seriously disrupt supply chains and raise costs for Americans. From cars to airplanes, from mobile phones to consumer electronics, these products all rely on semiconductors, with global semiconductor sales exceeding $600 billion. Currently, the supply chain is still feeling the chaotic effects caused by the COVID-19 pandemic and may now face new impacts from U.S. tariffs. Trump's frequent shifts in his comprehensive tariff plans have sent mixed signals to the markets, businesses, and trade partners, who are striving to negotiate with the White House to reach dozens of new agreements aimed at reducing trade imbalances. Trump said on Monday that he expects to impose tariffs on imported drugs “sooner rather than later.” Trump said to the reporter:"Listen, I'm a very flexible person. I don't change my mind, but I am very flexible." "I've been helping Tim Cook and the whole business recently," he continued, referring to the CEO of Apple Inc."I don't want to hurt anyone. But the end result is that our country will achieve greatness."However, Trump said last weekend that the exemption on tariffs for technology products (seen as a boon for tech giants like Apple and Nvidia) would be temporary, adding that these imports would eventually face different, industry-specific tariffs. The Ministry of Commerce's investigation into semiconductors has a wide scope, as it aims to assess the import situation of both traditional chips and advanced chips sought after for artificial intelligence applications. According to government notifications, this investigation will cover all semiconductors, equipment used to manufacture semiconductors, and electronic products that contain these components. The imposition of tariffs on the semiconductor industry could affect numerous companies that export billions of dollars worth of microprocessors and related products to the United States each year. These measures could also increase the cost of Trump’s vision for expanding domestic semiconductor production, especially if import duties are levied on chip manufacturing equipment from companies such as ASML Holding NV. Based in the Netherlands, ASML is a leading supplier of advanced lithography machines, which are used to produce the smallest computer chips utilized in artificial intelligence and other sensitive applications. Analysts warn that bringing chip manufacturing to the US will require years of arduous effort. Separate drug investigations will examine imports of all drugs, including generics and generic finished products as well as materials used to make those drugs. Investigators will also look into imports of key pharmaceutical inputs. Tariffs will also hit global pharmaceutical giants like Merck & Co. and Eli Lilly & Co., which have dozens of production bases around the world. Before tariffs may be imposed in the U.S., pharmaceutical companies have announced significant investments in the United States. Recently, Swiss pharmaceutical company Novartis AG announced plans to invest $23 billion in the United States over the next five years, following similar commitments from Eli Lilly, Merck, and Johnson & Johnson. However, experts warn that this is likely not enough to mitigate the impact of tariffs. Leerink Partners analyst David Risinger said in a note to clients ahead of the announcement, "We believe the companies impacted cannot quickly fix the problem. Reregistration would take years and be very costly." In this already the most expensive market in the world, pharmaceutical companies will face two choices: either absorb the costs brought by potential tariffs or raise drug prices. Trump has repeatedly criticized American pharmaceutical companies for their reliance on overseas production, and he is breaking with tradition that has lasted for decades. For many years, the pharmaceutical industry has managed to avoid trade wars and has been protected by international agreements, which largely shield medicines from tariffs on humanitarian grounds.    

Global energy and chemical industry market information service agencies recently stated that American chemical companies are facing profit contraction due to fluctuations in oil and natural gas prices, while also dealing with issues related to tariffs and economic uncertainty. Analyst Koze Olko stated that the key driving factor behind the rise in U.S. gas prices is the surge in liquefied natural gas (LNG) demand from Europe and the Asia-Pacific region. Due to the strong growth in electricity demand from data centers, U.S. natural gas supply may tighten further. In contrast, oil demand is expected to decline due to accelerated supply growth from non-OPEC producers such as the U.S., Brazil, and Guyana, the rapid adoption of electric vehicles, and a slowdown in economic growth, which may lead to a drop in oil prices. It is estimated that the average price of Brent crude oil will drop by 6.7% in 2025 and by another 7.4% in 2026; the average price of WTI will also drop by 6.7% in 2025 and by another 7.9% in 2026. The cost of chemical raw materials in the United States, especially ethane, will fluctuate with the rise and fall of gas prices. It is estimated that the average price of natural gas in the United States will increase by 66.8% in 2025 and by another 3.9% in 2026. The trends of both will inevitably squeeze the profit margins of U.S. ethylene producers. However, the demand for ethylene is declining. Tariffs have increased the import costs of raw materials used to make catalysts and plastic additives, and the EU and Canada may impose retaliatory tariffs on polyethylene exported from the United States. Peter Huntsman, CEO of U.S. chemical producer Huntsman Corporation, expects that the rebound in the U.S. real estate market may be delayed due to uncertainties over tariffs and mortgage interest rates, and the demand for ethylene from the construction industry will continue to be weak, further exacerbating the instability in the ethylene market.

According to CCTV News, on April 8th local time, US President Trump announced in a speech that the United States will impose tariffs on pharmaceuticals. Trump stated that the United States does not produce its own medications and other health-improving products. The prices paid for drugs in the U.S. are often many times higher than those in countries that produce pharmaceuticals. Trump believes that once tariffs are imposed on medications, pharmaceutical companies will establish factories in the U.S. because it is the "largest market." European pharmaceutical companies warned at a meeting with the President of the European Commission on the 8th local time that US tariffs will accelerate the trend of the industry moving from Europe to the US. EFPIA, a pharmaceutical industry trade lobbying group whose members include European pharmaceutical giants Bayer, Novartis, and Novo Nordisk, said that it has called on the EU President to push for "rapid and fundamental action" to mitigate the risk of an exodus to the US.

While the Trump administration was wielding the tariff baton, American toy giants were not only diversifying their production bases but also quietly launching a "cost revolution"! The "American Girl" dolls from Mattel's American Girl brand are on display at the American Girl Place in Manhattan, New York. The Trump administration escalated the trade war: imposing a 10% base tariff on almost all countries and adding heavy taxes on dozens of countries including China and Vietnam. As the two pillars of U.S. toy imports, Chinese products face a 54% overall tax rate (with an additional 34%), while Vietnamese toys are hit with a 46% tariff. According to the U.S. Toy Association, 77% of imported toys in the U.S. come from China, with Vietnam following Mexico in third place. Industry experts warn that tax rates far exceeding expectations will lead to a surge in toy prices, with the initial impact likely coinciding with the back-to-school season this fall. "The entire industry is in chaos," said Greg Ahearn, president of the Toy Association. "This will have a huge negative impact on both consumers and the industry." The Dilemma of Enterprises in Supply Chain Earthquakes Toy giants Hasbro and Mattel had predicted in 2025 that the impact of a 20% tariff on China would be included in their plans to shift production to Vietnam, Indonesia, and India. However, the new tariff policy has resulted in rates of 46%, 32%, and 26% for these three countries, respectively. Eric Handler, an analyst at Roth Capital, pointed out: "The transfer of production has lost financial feasibility, and consumers will soon see price increases." "Hey Buddy Hey Pal" company's "Magic Egg Decorator" relies on the Asian supply chain. However, in reality, China announced on Friday that it will impose a 34% retaliatory tariff on the US, exacerbating trade tensions. The capital market "votes with its feet" in advance. The tariff shockwave has swept through Wall Street: Mattel's stock plummeted 16.5% on Thursday, Hasbro dropped 12%, and Funko plunged 18%. Analysts predict that toy giants releasing quarterly reports this month may lower their profit guidance. This tariff storm is reshaping the global toy industry landscape. After Mattel and Hasbro transferred part of their production capacity to Vietnam in two years, production in China has significantly decreased, while new factories in Vietnam hesitate due to tariffs. US toy giant's strategy of diversifying manufacturing locations Mattel has also been diversifying its manufacturing operations away from China, currently sourcing products from seven countries. China accounts for about 40% of its procurement volume, down from the previous 50%. Due to the United States accounting for about half of the global toy sales, China's tariff risks are about 20% of the global cost of goods sold. UBS says this means that according to a 10% China tariff, Mattel's gross margin will be affected by 100 basis points, equivalent to about 12 cents per share. Mattel said that by 2027, the output of any country will not exceed 25% of its total output. Hasbro has been expanding its manufacturing operations to countries like Vietnam and India to reduce its dependence on China. The company's management has indicated that Indonesia may be the next stop. Hasbro, headquartered in Pawtucket, Rhode Island, currently sources products from eight countries, with China accounting for 50%, down from the previous 60%. The company aims to reduce this proportion to 40% by 2026. In comparison, the average for the entire toy industry is 80% to 85% of revenue coming from China. Mexico also imposes tariffs on certain goods, representing 2% of Hasbro's production. The company does not source any products from Canada. Reduce manufacturing costs Despite efforts by companies to reduce costs through renegotiating supplier contracts and simplifying packaging (such as Basic Fun’s release of trayless packages), Basic Fun********: "The 54% tariff could lead to a direct price increase of 50% at the consumer level, especially for toy products with single-digit profit margins. Cost passthrough is inevitable." Behind the hustle and bustle of the New York Toy Fair, buyers are frantically seeking alternatives. An unnamed Guangdong OEM factory manager revealed: "Walmart has asked us to reduce the thickness of plastic parts by 0.2 millimeters, but this can only offset 3% of the cost." Battery-free electronics, minimalist packaging toys, self-assembled daily necessities... These seemingly regressive consumer trends are actually the wisdom of businesses surviving in the global trade war. In the workshop of Abacus Brands, a Los Angeles-based educational toy company, CEO Steve Rad is showcasing a new matte packaging box: replacing the 30-cent plastic liner with a cardboard that costs only 7 cents. "Saving 3-4 cents at each spot can accumulate to offset the $10 increase in retail price," the company also plans to reduce the thickness of the paper used in the instruction manual, and expects to complete the supply chain adjustments this fall. Steve Rad, who designs science kits and other educational toys for older kids, is showcasing a newly improved matte box (left), which will replace its black molded plastic packaging with an improved cardboard material to help offset the cost of future tariffs. The plush toy giant Aurora World has tapped into the color economy. "Reducing the number of paint colors not only cuts material costs but also simplifies the labor process," admitted Gabriel Horikawa, general manager of the toy division. While these changes may not fully offset the impact of tariffs, they serve as a necessary buffer. Aurora was founded in Korea in the 1980s, and by going green, it has saved more than 3 million pounds of recycled plastic. Packaging Slimming: A Win-Win for Environmental Protection and Cost The classic toy brand Basic Fun has designed three packaging options for Tonka trucks: a traditional box with a display window, a tray without a box, and a minimalist paper price tag. The latter two options can save costs of $1.25 and $1.75 respectively, but CEO Jay Foreman admits, "This will reduce the product's appeal and is far from offsetting the tariffs on goods from China." The Art of Survival in the Fog of Policy Michael Matthias, CFO of American Eagle Outfitters, revealed that the company plans to reduce the production capacity ratio in China and Vietnam from 15%-20% each to single digits. CEO Jay Schottenstein admitted, "We faced similar challenges eight years ago, and we must remain flexible— you never know where the next round of tariffs will be aimed." Facing policy uncertainty, Peter Baum of Baum Essex in New York lamented, "This is the beginning of a global depression. An 80-year-old business run by five generations could be ruined." The company, which relocated its production capacity from China in 2019, is now facing another****in several Southeast Asian countries. In this trade war without gunpowder, enterprises are adopting meticulous "subtraction strategies" to find a niche in the tariff storm. When innovation becomes a forced choice, the evolution of consumption patterns may reshape the commercial landscape in the post-tariff era.