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On August 27th, the U.S. Customs and Border Protection (CBP) released a preliminary version of its announcement on additional tariffs on Indian goods, pursuant to an executive order signed by President Trump earlier this month. The announcement is scheduled to be officially released and take effect on the 27th. The announcement states that, effective at 12:01 a.m. Eastern Time on the 27th, the U.S. will impose an additional 25% ad valorem tariff on Indian goods imported for consumption or for withdrawal from storage for consumption. Combined with the additional tariffs announced on the 6th, the overall tariff rate for Indian goods exported to the U.S. will be 50%. Some Indian exporters have reported that many American customers have canceled their orders due to the U.S. governments tariff measures.Country Garden Services (06098.HK): Revenue in the first half of the year was RMB 23.19 billion, a year-on-year increase of 10.2%; net profit in the first half of the year was RMB 996.6 million, a year-on-year decrease of 30.8%.Trump: More than $1.5 billion has been raised through various forms and political entities since the 2024 election.ANTA Sports (02020.HK): First-half revenue reached 38.544 billion yuan, a year-on-year increase of 14.3%, compared to an estimated 38.09 billion yuan. Net profit reached 7.031 billion yuan, a year-on-year increase of 14.5%, compared to an estimated 6.93 billion yuan. The board of directors declared an interim dividend of HK$1.37 per ordinary share.Futures News, August 27th, Economies.com analysts latest view today: WTI crude oil futures prices fell in the previous trading day, attempting to find a rising low that could form a new upward base, thus strengthening the possibility of a rebound. With support from the EMA50, a short-term bullish corrective wave remains dominant. Meanwhile, the Relative Strength Index (RSI) reached a significantly oversold level, increasing the possibility of the beginning of a positive divergence. A bullish overlap signal also appeared, paving the way for a quick return to normal.

Two GM factories commence operations in South Korea

Charlie Brooks

Jul 26, 2022 11:01

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General Motors Co (NYSE:GMSouthKorean )'s subsidiary resumed production at its two plants in the country this week following a two-week production halt due to procurement difficulties, a GM Korea representative told Reuters on Tuesday.


Since mid-July, the U.S. automaker's Korea operations have suspended production of all vehicles at its Changwon and No. 2 Bupyeong factories after a local supplier refused to provide auto components after requesting a price rise.


ERAE AMS, which supplies components for automakers like Volkswagen AG (OTC:VWAGY), Hyundai Motor Co, and BYD, refused to provide parts to GM Korea's plants and demanded a price increase.


Neither GM Korea nor ERAE AMS were able to comment when contacted by Reuters.


According to the Korea Automobile Manufacturers Association, GM Korea's Changwon and No. 2 Bupyeong facilities have an annual manufacturing capacity of around 70,000 vehicles. This represents almost 30% of GM Korea's entire yearly manufacturing capacity.


According to GM Korea, production at the No. 1 Bupyeong plant that produces the Trailblazer sport utility vehicle (SUV) has not been interrupted.

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