Latest news with #KatiaDmitrieva
Bloomberg
2 days ago
- Business
- Bloomberg
Trump Says He'll Notify 150+ Countries About 10-15% Rate
President Donald Trump said he would send letters to more than 150 countries notifying them their tariff rates could be 10% or 15% as he forges ahead with his trade agenda. 'We'll have well over 150 countries that we're just going to send a notice of payment out, and the notice of payment is going to say what the tariff' rate will be, Trump told reporters on Wednesday at the White House. Bloomberg's Katia Dmitrieva reports. (Source: Bloomberg)
Bloomberg
11-07-2025
- Business
- Bloomberg
America Can't Seem to Shake Reliance on China as Factory Floor
I'm Katia Dmitrieva, Asia economics correspondent in Hong Kong. Today we're looking at China's hold over global supply chains. Send us feedback and tips to ecodaily@ And if you aren't yet signed up to receive this newsletter, you can do so here. There's a common notion that since Trump's initial round of China tariffs in his first administration, the US has become drastically less reliant on the Asian nation. Headline data certainly suggests that, with the US share of imports from China falling in just a few years to about 13% in 2024 from nearly 22% in 2017.
The Star
06-06-2025
- Automotive
- The Star
Burning ship abandoned in Pacific carried several Chinese car brands
Ship carrying about 3,000 cars, including 800 EVs, has been abandoned in the middle of the Pacific Ocean after catching fire. - Reuters EAST ASIA (Bloomberg): A cargo ship that was abandoned in the middle of the Pacific Ocean after catching fire Tuesday was carrying cars from several Chinese automakers, according to people familiar with the matter. The Morning Midas was shipping around 3,000 cars from a range of manufacturers including Chery Automobile Co. and Great Wall Motor Co. to Mexico. It's unclear at this stage which brand's electric vehicle caught fire, the people said, who asked not to be identified discussing preliminary findings. The eastern Chinese city of Yantai, the port where the ship originated, also has a SAIC Motor Corp.-GM plant that produces the Buick Envision model, while the charterer of the vessel has been reported by local media to be Anji Logistics, a subsidiary of SAIC. Smoke was first seen coming from a deck of the vessel on Tuesday, whose cargo included about 800 EVs. The crew initiated firefighting procedures but the blaze couldn't be brought under control. Responders were deployed to support salvage and firefighting operations, the ship's manager Zodiac Maritime said in a statement. The US Coast Guard, which said the fire aboard the ship occurred approximately 300 miles south of Adak Island in Alaska, evacuated all 22 crew members and transferred them to a nearby merchant ship. Great Wall Motor had about 140 cars on the ship, although none of them were battery EVs and were not located at the deck where the fire started, one of the people said. A representative from Chery declined to comment. Great Wall Motor didn't immediately respond to a request for comment. Calls and an email to Anji Logistics weren't answered. --With assistance from Sarah Chen and Katia Dmitrieva. ©2025 Bloomberg L.P.
Mint
05-06-2025
- Automotive
- Mint
Burning Ship Bound for Mexico Carried Several Chinese Car Brands
(Bloomberg) -- A cargo ship that was abandoned in the middle of the Pacific Ocean after catching fire Tuesday was carrying cars from several Chinese automakers, according to people familiar with the matter. The Morning Midas was shipping around 3,000 cars from a range of manufacturers including Chery Automobile Co. and Great Wall Motor Co. to Mexico. It's unclear at this stage which brand's electric vehicle caught fire, the people said, who asked not to be identified discussing preliminary findings. The eastern Chinese city of Yantai, the port where the ship originated, also has a SAIC Motor Corp.-GM plant that produces the Buick Envision model, while the charterer of the vessel has been reported by local media to be Anji Logistics, a subsidiary of SAIC. Smoke was first seen coming from a deck of the vessel on Tuesday, whose cargo included about 800 EVs. The crew initiated firefighting procedures but the blaze couldn't be brought under control. Responders were deployed to support salvage and firefighting operations, the ship's manager Zodiac Maritime said in a statement. The US Coast Guard, which said the fire aboard the ship occurred approximately 300 miles south of Adak Island in Alaska, evacuated all 22 crew members and transferred them to a nearby merchant ship. Great Wall Motor had about 140 cars on the ship, although none of them were battery EVs and were not located at the deck where the fire started, one of the people said. A representative from Chery declined to comment. Great Wall Motor didn't immediately respond to a request for comment. Calls and an email to Anji Logistics weren't answered. --With assistance from Sarah Chen and Katia Dmitrieva. More stories like this are available on
Bloomberg
30-05-2025
- Business
- Bloomberg
US-China Trade Truce Spurs Rush to Beat Tariffs
A big shift in regional trade is underway following US President Donald Trump's announcement – and temporary pause – of the so called 'Liberation Day' tariffs. Exports from Southeast Asia are surging, as companies around the world frontload and reroute shipments of parts and final goods such as toys and smartphones. Which countries are benefiting the most from this demand and the intensifying strategy of 'China+1', how long will these high export levels be maintained, and what are the risks for consumers and companies? Katia Dmitrieva speaks with Robert Subbaraman, head of global macro research at Nomura, about the latest on the trade front.
