Bad trade headline after another hit the market — but a key economic tracker is looking up
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
15 minutes ago
- Miami Herald
Tesla Won't Like EV Rival's Plan to Take Its Cars Global by 2027
Xiaomi, a Chinese technology company expanding its presence beyond products like smartphones into electric vehicles, has revealed that it's considering overseas sales as early as 2027. Lei Jun, Xiaomi's CEO, shared the news Wednesday following the automotive division receiving 200,000 orders in three minutes at the end of June for its upcoming YU7 SUV, directly competing with Tesla's Model Y. Tesla has been struggling to gain momentum in China, posting a 6.8% year-over-year decline during Q2 and having eight consecutive months of year-over-year sales declines before snapping the cold streak in June with a 0.83% annual increase. While BYD retained the largest market share in China among EV makers in May, Xiaomi's SU7 SUV was the country's leader in E-Segment (executive or full-size car) sales. While Xiaomi likely won't be making it to the U.S. anytime soon, its serious consideration of global expansion is among the last things Tesla wants to hear, especially as Elon Musk's company struggles this year in other markets, like much of Europe. Xiaomi Auto is one of China's fastest-growing EV makers, but it must overcome some significant challenges to pave a path toward global expansion. Backlogged orders are one of Xiaomi's primary roadblocks. Chinese consumers' interest in the company is promising for investors, but Xiaomi confirmed that drivers will have to wait over a year on average to receive an ordered YU7. Non-refundable YU7 orders reached 240,000 in the first 18 hours in late June. Xiaomi's CEO even suggested that those in urgent need of a vehicle who have pre-ordered a YU7 should consider purchasing an Xpeng G7, Li Auto i8, or Tesla Model Y, according to Yicai Global. Local publication Sina Technology reports that Xiaomi's Auto Phase II factory, which was completed in June, is urgently recruiting to ramp up YU7 production. The standard YU7 has wait times of up to 15 months, while the Max variant has the shortest wait time of about 9.5 months. The automaker also appears to have room for improvement in quality control, as its SU7 finished last in the 2025 Q1 China automobile quality ranking in the segment of large BEV sedans, according to CarNewsChina. Xiaomi appears to be taking this area seriously, with its CEO noting: "Knowing Xiaomi's cars would be scrutinized by millions of netizens, that every flaw would be magnified 10‑thousand‑fold, we prioritized quality above all from day one [for the YU7]," says Yicai Global. Once Xiaomi resolves its production bottlenecks, establishes a consistent track record of quality control, and delivers widespread customer satisfaction in China, international expansion challenges include, but aren't limited to, fulfilling countries' varying regulatory requirements and establishing reliable sales, distribution, and service networks. Xiaomi is one of the most promising up-and-coming Chinese EV makers, especially with its ability to turn cars into smart automotive platforms via its comprehensive digital ecosystem. However, Xiaomi must focus on optimizing its local presence in China before expanding globally, and the company's significant production delays make the prospect of going international by 2027 a challenging task. The YU7's rollout is a pivotal moment for Xiaomi, as it presents an opportunity to demonstrate quality control and production ramp-ups for a product that will directly compete with China's best-selling vehicle in 2024, Tesla's Model Y. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Washington Post
30 minutes ago
- Washington Post
Trump administration preparing to deport detainees to South Sudan
A federal judge in Boston on Friday rejected an 11th-hour plea to spare eight immigrants from imminent deportation to conflict-ridden South Sudan, saying the U.S. Supreme Court has cleared the way for the transfers. U.S. District Judge Brian E. Murphy's brief ruling followed frantic efforts from the migrants' lawyers to block the Trump administration from sending them to a nation that has been on the brink of civil war — and to which none of the men has citizenship. In May, Murphy had halted a U.S. government flight with the men headed to South Sudan, saying the administration could not send them to the African nation without giving them a chance to argue that they could face persecution there. Since then, the men have been marooned in a shipping container on a U.S. Naval base in the East Africa nation of Djibouti awaiting their fate. The Supreme Court last month cleared the way for Trump officials to deport immigrants to third countries where they do not have citizenship, when it temporarily blocked a decision by Murphy that said migrants must have a 'meaningful opportunity' to contest their removal. On Thursday, the court clarified that its order covers the detainees headed to South Sudan. The court's majority did not provide any reasons for their ruling, which is typical for emergency orders. Trina Realmuto, executive director of the National Immigration Litigation Alliance, which has helped represent the men in court, called the legal outcome 'deeply troubling' and said the Trump administration's move to send the men to South Sudan is 'unconstitutionally punitive' Murphy's ruling Friday capped an extraordinary legal saga that has stretched on for weeks and left the men in legal limbo. Though the Supreme Court appeared to settle the matter Thursday, lawyers for the men led a final attempt afterward that spilled over into the Fourth of July holiday to block their transfer to South Sudan by arguing in a federal court in Washington, D.C., that they would face imminent danger. The lawyers asked U.S. District Judge Randolph D. Moss to declare the deportations 'punitive' and block the deportations, arguing that federal law bars the United States from sending anyone — even criminals — to nations where they could have a reasonable fear that they could be tortured or killed. Moss, who held two hearings on the matter Friday, expressed concerns for the men's safety and transferred the case to Murphy, where it had begun in May. The eight men are not citizens of South Sudan and have no ties to that country, their lawyers said. They said the men come from Cuba, Vietnam, Laos, Myanmar, Sudan and Mexico. The Justice Department argued in court Friday that the detainees are among the 'worst of the worst,' most with convictions for violent crimes, including murder. 'We have planes that are imminently going to go,' Justice Department lawyer Hashim Mooppan told Moss during an afternoon hearing. Lawyers for the migrants said it is illegal and immoral for the U.S. government to deport people to places where they could be killed. Most of the men cannot speak the language in South Sudan, their lawyers said, and the Trump administration has publicized the men's names and photos — potentially putting them in greater jeopardy. The men had served criminal sentences in the United States for their crimes and were being deported by the Department of Homeland Security under civil immigration laws. The State Department has urged people not to travel to South Sudan because of the risk of 'crime, kidnapping, and armed conflict.' 'The idea of sending human beings into a place where they may be tortured and harmed … cannot be sustained,' said Mary Sameera Van Houten, an attorney representing the detainees. 'That can't possibly be the law in this country.' Mooppan said the South Sudan government has agreed to accept the detainees temporarily, and he added that he does not expect them to be incarcerated. He said they are expected to be granted an immigration status with permission to stay temporarily in the country. 'We certainly haven't asked for them to be detained,' he said. The case centers on one of the most sacred provisions in federal immigration law: the principle that the U.S. government will not deport people to nations where they might face persecution. But the Trump administration has been frustrated in its attempts to ramp up deportations, in part by countries that delay or refuse to accept the return of their citizens deported from the United States. In the case of the eight migrants being sent to South Sudan, Mexico has said it would accept the return of the man from that country. Murphy, the judge in Massachusetts, had ruled in April that the government could not deport immigrants to countries other than their own without giving them a meaningful opportunity to challenge it based on their fears of persecution. But the absence of an explanation left judges and lawyers grasping for direction from the highest court on what lawyers for the immigrants consider a life-and-death issue. DHS spokeswoman Tricia McLaughlin said Thursday that the eight men had been convicted of violent offenses — including homicide, attempted murder and sexual assault. At least one has a lesser conviction of robbery and other offenses. 'These sickos will be in South Sudan by Independence Day,' McLaughlin said in a statement Thursday. She called it a 'win for the rule of law, safety and security of the American people.' Jennie Pasquarella, a lawyer for the immigrants, told Moss on Friday that what set the case apart is that the men could face dangerous consequences — even death — if they are sent to South Sudan. Deportation is not supposed to be punitive, the lawyers argued. Moss agreed, temporarily halting the deportations and then transferring the case to the Boston court, saying that was the proper venue. Moss said that based on State Department's warnings, 'it does appear that placing people in South Sudan does pose or could pose significant risks to their physical safety' and that it would 'shock the conscience' to send even criminals to a country where they might be harmed or killed. He said even people convicted of a 'terrible crime' cannot be punished after they have served their sentences. But Moss ruled that the men's lawyers had filed in the wrong court. Moss gave the men's lawyers until 4:30 p.m. — less than 90 minutes from his ruling — to contact the judge in Boston and ask the court to halt the removals. Murphy denied the request a few hours later. Ann E. Marimow contributed to this report.
Yahoo
an hour ago
- Yahoo
China's Trade Collapse Sparks a New Asian Power Shift--Investors Are Watching Closely
China's grip on U.S. imports just hit a new low. According to the latest U.S. Census Bureau data, China's share of total U.S. imports dropped to 7.1% in Maythe weakest showing since 2001. That's down 4.3 percentage points from the same time last year and less than half the 14.8% peak reached in September 2024, before Donald Trump reentered the White House and doubled down on tariffs. While this trend has been building since Trump's first term, it appears to be picking up speedand investors are watching where that demand is now heading. One answer? Taiwan. Its share of U.S. goods imports has nearly doubled in a year, reaching close to 6%just 1.2 percentage points behind China. That rise is no coincidence. AI demand is still red hot, and Taiwan's dominance in semiconductor manufacturing puts it at the center of that boom. Companies like Taiwan Semiconductor Manufacturing (NYSE:TSM) could be quietly gaining even more strategic importance as supply chains reroute away from the mainland. Vietnam's also moving up the ladder. Matching Taiwan's near-6% import share, Vietnam is benefiting from a mix of locally made products and rerouted Chinese goods. But the story isn't all upside. Earlier this week, the U.S. slapped a 40% tariff on certain Vietnam-origin products tied to Chinese componentsintroducing a new layer of friction. For investors, this trade reshuffling could signal opportunity in the region's manufacturing hubsbut it comes with complexity that can't be ignored. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
