In a significant move to bolster its economy and address trade tensions, the European Commission (EC) has prioritized two Belgian germanium metal projects as part of its strategy to secure vital material supplies. This decision, announced on March 26, 2025, underscores the EU's growing reliance on domestic production amid shifting global trade dynamics.
According to a recent study by the Belgian Planning Bureau, released on December 11, 2024, Belgium's economy is increasingly dependent on the United States for strategic imports, surpassing its reliance on China. This finding reflects a broader trend in which Western nations are reassessing their trade relationships in light of geopolitical tensions.
As part of its energy strategy, Belgium is also focusing on enhancing its power infrastructure. The completion of an additional capacitor installation project on the Northern power grid is expected to add over 1,000 megawatts of capacity before the summer heat arrives in 2025. This initiative is crucial for ensuring a stable energy supply during peak demand periods.
In the tech sector, Google has reported a robust performance in its core advertising revenue, which accounted for nearly three-quarters of its total revenue in the first quarter of 2025. The tech giant's revenue increased by 8.5%, reaching $66.89 billion. This growth highlights the ongoing strength of digital advertising, even amid economic uncertainties.
Meanwhile, a major project at Viet Tri Chemical in Vietnam has also made headlines. On April 25, 2025, the company announced an upgrade to its capacity, targeting an output of 100,000 tons per year. This project was celebrated as part of the preparations for the upcoming Fourth Congress of the Vietnam Chemical Group.
As the global energy landscape shifts, Masan Group has launched its "Go Digital" initiative, aiming to optimize its entire value chain through comprehensive digitalization and automation. This strategic move reflects a growing trend among companies to embrace technology for improved efficiency.
In the automotive sector, Chinese electric vehicles (EVs) are gaining traction in European markets, thanks to their appealing prices, attractive designs, and advanced technological features. As European consumers increasingly turn to EVs, this shift could reshape the automotive landscape on the continent.
However, the oil and gas industry faces challenges, particularly with fluctuating global oil prices. PVOIL, a leading company in this sector, is exploring strategies to achieve a 30% profit growth target in 2025 despite these uncertainties.
At the annual general meeting of shareholders for Petrolimex, held on April 25, 2025, Chairman Pham Van Thanh emphasized the company's commitment to transitioning its energy strategy in line with evolving market conditions.
Turning to commodities, the Dalian Commodity Exchange reported a 1.87% drop in the most traded September iron ore contract, closing at 709 yuan (approximately $97.30 USD) per ton. Despite this decline, the contract still saw a weekly increase of 0.35%. On the Singapore Exchange, the May futures contract fell by 0.85% to $98.6 USD per ton, although it managed a weekly gain of 1.08%.
According to Hexun Futures, short-term demand for iron ore remains strong as steel manufacturers ramp up raw material reserves ahead of the International Labor Day holiday on May 1st. Hot metal production in April rose by 42,300 tons compared to March, reaching a total of 2.4435 million tons, which is an increase of 156,300 tons from the same month last year. Meanwhile, iron ore inventory at Chinese ports increased slightly by 1.56%, totaling 147.81 million tons.
Despite a somewhat softer tone from Washington regarding its stance towards Beijing, uncertainties persist in the trade relationship between the two nations. President Trump confirmed on April 25 that trade negotiations with China are ongoing, contradicting Chinese assertions that discussions have stalled. This conflicting messaging adds to the volatility in global markets.
In a related development, China is contemplating exempting certain imported goods from the US from a hefty 125% tariff, prompting domestic businesses to identify which products could qualify for tax relief. This potential shift could have significant implications for trade flows between the two countries.
On the steel front, the Shanghai Futures Exchange reported a general weakening of steel products, with rebar declining by nearly 0.5%, hot-rolled coil down by 0.31%, wire rod falling by 1.17%, and stainless steel decreasing by 0.59%.
As the EU grapples with these complex trade dynamics, IMF Director for Europe Alfred Kammer stressed the need for the US and the EU to "cool tensions" and engage in negotiations to stimulate growth, which has lagged behind the US in recent years. He noted that while the EU maintains a current account surplus, it faces challenges related to productivity, particularly in labor.
EU Commissioner Valdis Dombrovskis echoed these sentiments, stating that significant work remains to be done to secure a trade agreement before the 90-day reciprocal tax exemption period expires in early July 2025. He expressed concerns about the disproportionate taxes imposed by the US and the potential for a significant shift in trade flows from China, given the high tariffs currently in place.
In summary, as the EU and the US navigate these turbulent waters, the stakes are high. Both sides are under pressure to reach a consensus that could stabilize their economic relationship and foster growth. The coming months will be critical in determining how these negotiations unfold and what impact they will have on global markets.
