The U.S. solar industry is on track to achieve significant growth in 2023, with an expected record addition of 32 gigawatts (GW) of production capacity. This represents a 53% increase over new capacity added in 2022.

China’s coal market is mired in a deepening glut, with prices sinking and producers under mounting strain despite the broader optimism spurred by Beijing’s recent trade truce with Washington. Domestic coal prices are locked in a downward spiral driven by excess supply and waning demand — a dynamic unlikely to reverse without meaningful intervention or a sharp spike in power usage.

The benchmark coal price at the major port of Qinhuangdao has fallen to a four-year low of 630 yuan ($87) per ton, down 17% since the beginning of the year. That drop has pushed prices near or even below production costs for many miners, slicing into profits and raising concerns over sustainability across the sector. Mining companies are facing pressure from local governments to maintain output in order to bolster regional tax revenues, even as inventories rise and buyers pull back.

The United States and its fellow Group of Seven (G7) nations have struck an understanding that will effectively shield U.S. firms from certain provisions of a global tax deal, according to a joint statement issued on Saturday by Canada, which currently holds the rotating G7 presidency.

Under this new arrangement, described by the bloc as a “side-by-side” system, Washington agreed to drop Section 899—a controversial retaliatory tax proposal embedded in President Donald Trump’s sprawling tax and spending package. In return, the G7 has crafted a mechanism that recognizes existing American minimum tax regulations and seeks to reinforce the stability of the international tax framework.