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NEOM CEO: OXAGON Designed for Effectiveness in 4th Industrial Revolution Technologies

NEOM CEO Nadhmi Al-Nasr, Asharq Al-Awsat
NEOM CEO Nadhmi Al-Nasr, Asharq Al-Awsat
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NEOM CEO: OXAGON Designed for Effectiveness in 4th Industrial Revolution Technologies

NEOM CEO Nadhmi Al-Nasr, Asharq Al-Awsat
NEOM CEO Nadhmi Al-Nasr, Asharq Al-Awsat

NEOM Chief Executive Officer (CEO), Nadhmi Al-Nasr, has said that NEOM’s industrial city (OXAGON) was designed to be effective in the technologies of the Fourth Industrial Revolution by relying on the use of big data in a more efficient way to improve the performance of manufacturing operations at various stages.

Speaking to Asharq Al-Awsat, Al-Nasr clarified that OXAGON will be the gate to global trade markets for NEOM and Saudi Arabia. This is made possible by the floating industrial city’s strategic location on the Red Sea close to the Suez Canal, where around 13% of global trade passes.

Moreover, OXAGON enjoys an integrated system that combines its port and supply chains with modern technologies through a single digital platform. It is also connected to a global network.

“OXAGON is developing an integrated port and supply chain system connected to a global network that will feature one of the world’s most modern cargo transport facilities,” Al-Nasr told Asharq Al-Awsat.

“This will provide an enormous number of value-added services, in practice,” he affirmed.

Al-Nasr also indicated that OXAGON will demonstrate how industry and logistics, which operate with 100% clean energy, can reconfigure manufacturing processes using advanced technologies, optimized, innovative and clean investment for land and marine areas, protect nature, and thus provide exceptional life.

“OXAGON will redefine the concept and work of industrial cities by changing the stereotypical image of these cities and by creating an integrated sustainable environment in which people live near industrial complexes in perfect harmony with the preservation of natural resources,” said Al-Nasr.

When asked about the factors that make OXAGON unique on a global scale, Al-Nasr said that the industrial city is distinctive in so many ways that include its drive to boost economic growth and face climate change at the same time.

“We find that sustainability and the principles of circular economy are at the heart of the formation of the city,” said Al-Nasr, adding that “technology forms the backbone of OXAGON, which relies on a highly developed digital infrastructure.”

“The city will have the largest floating facility in the world, reinforcing its role in being an innovator in providing additional investment spaces instead of relying entirely on land,” noted Al-Nasr.

“OXAGON adopts a distinctive vision to build a circular economy supported by an industrial sector that keeps pace with the developments of the Fourth Industrial Revolution based on smart manufacturing,” he confirmed.

“OXAGON is working to be effective in the field of Fourth Industrial Revolution technologies, by relying on big data and using it in a more efficient way to improve the performance of manufacturing processes in its various stages,” added Al-Nasr.

“The city will provide an integrated ecosystem that brings together a port and supply chains powered by next-generation technologies on a single, globally connected digital platform,” he noted.

According to Al-Nasr, there are seven industrial sectors that will form the basis of industrial development at OXAGON.

These sectors include renewable energy, mobility solutions, innovation of water technologies, sustainable food production, health and well-being, technology and digital solutions, and modern construction.

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Trump Hits Back with Tariffs of 125%, after China Raises Its Tariff on US Goods to 84%

A general view shows the Huangpu River and the financial district in Shanghai on April 9, 2025. (AFP)
A general view shows the Huangpu River and the financial district in Shanghai on April 9, 2025. (AFP)
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Trump Hits Back with Tariffs of 125%, after China Raises Its Tariff on US Goods to 84%

A general view shows the Huangpu River and the financial district in Shanghai on April 9, 2025. (AFP)
A general view shows the Huangpu River and the financial district in Shanghai on April 9, 2025. (AFP)

President Donald Trump on Wednesday raised tariffs on China to 125%, hours after China boosted taxes on American imports to 84% and vowed to "fight to the end" in an escalating battle that threatens to disrupt trade between the world's two largest economies.

The new rate levied by Beijing, which has taken effect, comes in response to Trump's earlier move to raise the tariff on Chinese products to 104% as part of increases that hit US trading partners worldwide. Europe and Canada also hit back Wednesday with new tariffs on imports from America.

Citing lack of respect, Trump responded by raising tariffs on China to 125%, while pausing tariffs on most countries for 90 days.

The hikes are the latest in an ongoing trade war that threatens to raise prices for consumers in America and derail China's attempts to reinvigorate its sluggish economy. The response from the Chinese government signals its determination not to bend to Trump's pressure, despite the risks.

"If the US insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end," the Ministry of Commerce said before announcing its latest tariff hike.

Beijing also imposed restrictions on doing business with nearly a dozen American companies and said it was launching a new challenge to the American tariffs at the World Trade Organization.

China is a major exporter to US but no longer No. 1  

The United States sent a record $199 billion in exports to China last year, while China exported $463 billion in goods and services to the United States, third behind Mexico and Canada, according to the US Commerce Department.

China was the top source of US imports as recently as 2022 but it has lost ground to America’s neighbors amid heightened tensions with the United States.

The European Chamber of Commerce in China accused the US of rolling back many of the principles that have underpinned its approach to trade and investment. It said that Trump's tariffs would have a significant impact on European companies exporting from China to the US, forcing them to rethink their business models and supply chains.

"This will lead to a substantial increase in operational costs and inefficiencies, and ultimately higher prices for consumers," it said.

No ‘easy path’ to restarting US-China trade talks

Though the US and China may want to find a way back to the negotiating table, "this won’t be an easy path to navigate with both countries doubling down and bilateral engagement at a virtual standstill," said former US trade official Wendy Cutler, a vice president at the Asia Society Policy Institute.

China does not appear interested in bargaining, as some other countries have started doing.

"If the US truly wants to resolve issues through dialogue and negotiation, it should adopt an attitude of equality, respect and mutual benefit," Foreign Ministry spokesperson Lin Jian said.

The Chinese Ministry of Culture and Tourism issued a travel advisory asking its citizens to evaluate the risks of visiting the US as tourists and to exercise caution. The advisory, which came shortly after the announcement of the tariff hike, cited the deterioration in economic and trade relations as well as the "safety situation" in America.

China's response has gone from measured to tough 

Trump has now raised the tariff on Chinese goods five times since taking office in January. The first two hikes of 10% each were met with what analysts described as a measured response from China that left the door open for talks.

But after Trump announced an additional 34% tariff on Chinese goods last week, along with tariffs on other countries in his "Liberation Day," China matched that with a 34% tariff on imports from the US.

Trump then added a 50% tariff on goods from China, saying negotiations were terminated, and bringing the cumulative US tariff to 104%. China responded by raising the tariff on American products by the same amount, bringing its total rate to 84%.

China's latest measures include adding 11 American companies to an "unreliable entities" list that bars Chinese companies from selling them goods that could have military uses. Among the companies are American Photonics, and SYNEXXUS, which both work with the American military.

A Chinese position paper issued Wednesday said that the US has not honored the promises it made in an earlier "Phase One" trade deal concluded during Trump’s first term. As an example, it said a US law that would ban TikTok unless it is sold by its Chinese parent company violates a promise that neither would "pressure the other party to transfer technology to its own individuals."

Trump signed an order to keep TikTok running for another 75 days last week after a potential deal to sell the app to American owners was put on ice. Representatives from ByteDance, the parent company, told the White House that the Chinese government would no longer approve a deal until there could be talks on trade.

"History and facts have proven that the United States’ increase in tariffs will not solve its own problems," the Commerce Ministry said in a statement introducing the paper. "Instead, it will trigger sharp fluctuations in financial markets, push up US inflation pressure, weaken the US industrial base and increase the risk of a US economic recession, which will ultimately only backfire on itself."