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US-Saudi Business Council Hosts High-Level Investment Event

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat
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US-Saudi Business Council Hosts High-Level Investment Event

The Saudi flag. Asharq Al-Awsat
The Saudi flag. Asharq Al-Awsat

The US-Saudi Business Council, in collaboration with the White House and the US Department of Commerce, hosted a high-level investment event on Friday in Washington.
The event was held in preparation for the upcoming visit of US President Donald Trump to the Kingdom of Saudi Arabia as part of ongoing efforts to strengthen the economic partnership between the two countries, the Saudi Press Agency said Saturday.
The event was attended by senior executives from more than 50 American companies, alongside a high-level Saudi delegation that included officials from over 10 ministries, government agencies, and private-sector companies. The gathering provided a valuable opportunity for dialogue and the exchange of perspectives on the prospects for bilateral cooperation.
Representatives from the US Department of Commerce and the US-Saudi Business Council presented strategic visions and key topics focused on supporting trade and investment relations between both sides.
Participants discussed cooperation opportunities in sectors vital to both economies, including digitalization and artificial intelligence, mining and minerals, innovation in the energy sector, and the development of cross-border trade and investment.
Bilateral meetings between representatives of American companies and the Saudi delegation offered platforms to explore market trends and strengthen direct business relations.
The event reflected the shared commitment of both countries to advance economic cooperation to deeper levels and highlights the pivotal role of the US-Saudi Business Council in building bridges between the public and private sectors in both Saudi Arabia and the United States.

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China Slaps Anti-dumping Duties on Plastics from US, EU, Japan, Taiwan

Motorists commute on a road in the Sanlitun business district in Beijing on May 14, 2025. (AFP)
Motorists commute on a road in the Sanlitun business district in Beijing on May 14, 2025. (AFP)
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China Slaps Anti-dumping Duties on Plastics from US, EU, Japan, Taiwan

Motorists commute on a road in the Sanlitun business district in Beijing on May 14, 2025. (AFP)
Motorists commute on a road in the Sanlitun business district in Beijing on May 14, 2025. (AFP)

China on Sunday announced anti-dumping duties as high as 74.9% on imports of POM copolymers, a type of engineering plastic, from the United States, the European Union, Japan and Taiwan.

The commerce ministry's findings conclude a probe launched in May 2024, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports.

POM copolymers can partially replace metals such as copper and zinc and have various applications including in auto parts, electronics and medical equipment, the ministry has said.

In January the ministry said initial investigations had determined that dumping was taking place, and implemented preliminary anti-dumping measures in the form of a deposit starting from January 24.

According to Sunday's announcement, the highest anti-dumping rates of 74.9% were levied on imports from the United States, while European shipments will face 34.5% duties.

China slapped 35.5% duties on Japanese imports, except for Asahi Kasei Corp, which received a company-specific rate of 24.5%.

General duties of 32.6% were placed on imports from Taiwan, while Formosa Plastics received a 4% tariff and Polyplastics Taiwan 3.8%.

Hopes have risen that the US-China trade war is easing after the two sides said on Monday they had agreed to slash reciprocal tariffs in a 90-day truce, a deal that state mouthpiece the Global Times said on Friday should be extended.

The Asia-Pacific Economic Cooperation group of nations warned of "fundamental challenges" facing the global trading system in a communique on Friday after a meeting in South Korea.