The lull is over and the fog is thickening. After a relatively placid summer, the trade conflict is shifting from rhetoric to realized costs just as the statistical lights are flickering. Because the steepest U.S. tariff hikes only began to bite in August, and a federal data blackout choked off fresh releases, markets are flying on instruments that are either lagging or dark.

The illusion of stability came from front-loaded imports and inventory padding to beat deadlines; now that cushion is thinning, and the policy stance is explicitly fluid, with tariff levels subject to abrupt executive adjustments.

In a striking display of ambition and economic transformation, Saudi Arabia’s business and political elite gathered last year to celebrate the assembly of the first electric cars by Lucid Group. This event, showcasing the kingdom’s venture into electric vehicle manufacturing, symbolized Crown…

China and Malaysia are circling an unusual bargain: Beijing would loosen its tight grip on rare-earths know-how in exchange for geography and ore. Khazanah Nasional, Malaysia’s sovereign fund, is exploring a joint refinery with a Chinese state firm that would process both light and heavy rare earths, an apparent carve-out from China’s longstanding ban on exporting key processing technology.

For Beijing, the calculation is straightforward. Export curbs on magnets and oxides have spooked global customers and energized rival supply chains; planting a Chinese-linked refinery inside ASEAN would preserve market share, blunt the rise of non-Chinese competitors such as Lynas, and keep crucial midstream capacity within its political orbit even as production footprint diversifies.